New York S 4450: Grants retroactive tier IV membership in the NY state and local employees' retirement system for Maureen Sullivan Nasca

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S04450 Summary:

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Relates to granting retroactive Tier IV membership in the New York state and local employees' retirement system for Maureen Sullivan Nasca.

Go to top S04450 Actions:

BILL NOS04450 

&nbsp

02/05/2025REFERRED TO CIVIL SERVICE AND PENSIONS

Go to topS04450 Committee&nbspVotes:

Go to topS04450 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04450 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4450

 2025-2026 Regular Sessions

 IN SENATE

 February 5, 2025
 ___________

 Introduced by Sen. S. RYAN -- read twice and ordered printed, and when
 printed to be committed to the Committee on Civil Service and Pensions

 AN ACT granting retroactive tier IV membership in the New York state and
 local employees' retirement system to Maureen Sullivan Nasca

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Notwithstanding any other provision of law to the contrary,
 2 Maureen Sullivan Nasca, an employee of the Erie County Medical Center
 3 and a member of the New York state and local employees' retirement
 4 system, who was a full-time employee at the Roswell Park Comprehensive
 5 Cancer Center from December 7, 1995 to December 22, 2013, and who, for
 6 reasons not ascribable to her own negligence, failed to become a member
 7 of such retirement system during such employment with the Roswell Park
 8 Comprehensive Cancer Center in 1995, shall be deemed to have joined the
 9 New York state and local employees' retirement system on the date of
 10 December 7, 1995 and shall be granted Tier IV status in such retirement
 11 system if, within one year of the effective date of this act, she shall
 12 file a written request with the state comptroller.
 13 § 2. No contributions made to the New York state and local employees'
 14 retirement system by Maureen Sullivan Nasca shall be refunded or
 15 returned to her pursuant to this act.
 16 § 3. All past service costs of implementing the provisions of this act
 17 shall be borne by the state of New York.
 18 § 4. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 This bill would provide Maureen Sullivan Nasca with a date of member-
 ship of December 7, 1995, resulting in Tier 4 status in the New York
 State and Local Employees' Retirement System. Maureen Sullivan Nasca is
 currently a Tier 6 member employed by Erie County Medical Center. There
 will be no refund of member contributions.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04253-02-5

 S. 4450 2

 If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate that there will be an increase of approximately $68,000 in the
 annual contributions of the Erie County Medical Center for the fiscal
 year ending March 31, 2026. In future years this cost will vary as the
 billing rates and salary of Maureen Sullivan Nasca change.
 In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $1.74 million which will
 be borne by the State of New York as a one-time payment. This estimate
 assumes that payment will be made on March 1, 2026.
 Summary of relevant resources:
 Membership data as of March 31, 2024 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2024 actuari-
 al valuation. Distributions and other statistics can be found in the
 2024 Report of the Actuary and the 2024 Annual Comprehensive Financial
 Report. The actuarial assumptions and methods used are described in the
 2024 Annual Report to the Comptroller on Actuarial Assumptions, and the
 Codes, Rules and Regulations of the State of New York: Audit and
 Control. The Market Assets and GASB Disclosures are found in the March
 31, 2024 New York State and Local Retirement System Financial Statements
 and Supplementary Information.
 This fiscal note does not constitute a legal opinion on the viability
 of the proposed change nor is it intended to serve as a substitute for
 the