New York S 9554: Grants retroactive membership with Tier IV status in the New York state and local employees' retirement system to William Kerr

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S09554 Summary:

BILL NOS09554 

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SAME ASSAME AS A09532

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SPONSORTEDISCO

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COSPNSR

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MLTSPNSR

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Grants retroactive membership with Tier IV status in the New York state and local employees' retirement system to William Kerr.

Go to top S09554 Actions:

BILL NOS09554 

&nbsp

03/24/2026REFERRED TO CIVIL SERVICE AND PENSIONS

Go to topS09554 Committee&nbspVotes:

Go to topS09554 Floor&nbspVotes:

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

Go to topS09554 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9554

 IN SENATE

 March 24, 2026
 ___________

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

 AN ACT granting retroactive membership with Tier IV status in the New
 York state and local employees' retirement system to William Kerr

 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 William Kerr, who was employed by the village of Cooperstown with a
 3 start date of August 24, 1984, and who is currently a member of the New
 4 York state and local employees' retirement system, who through no fault
 5 of his own did not become a member of the New York state and local
 6 employees' retirement system on August 24, 1984 when he first became
 7 eligible for membership in such system, shall be deemed to have been a
 8 member of the New York state and local employees' retirement system on
 9 such date when he commenced employment and shall be granted Tier IV
 10 status, provided that an application is filed with the head of the New
 11 York state and local employees' retirement system within one year from
 12 the effective date of this act. Upon granting of such retroactive
 13 membership, William Kerr shall not be granted a refund of any employee
 14 contribution made by him to the New York state and local employees'
 15 retirement system.
 16 § 2. All past service costs associated with the implementation of this
 17 act shall be borne by the village of Cooperstown.
 18 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 This bill would grant Tier 4 status in the New York State and Local
 Employees' Retirement System (NYSLERS) to William Kerr, a current Tier 6
 member employed by the Department of Health, by changing their date of
 membership to August 24, 1984. There will be no refund of member
 contributions.
 We estimate that the Department of Health's annual contributions will
 increase $12,000 beginning FYE 2027. Annual costs will vary as the bill-
 ing rates and salary of William Kerr change.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14065-02-6

 S. 9554 2

 In addition, there will be an immediate past service cost of $66,300
 borne by the village of Cooperstown as a one-time payment. This cost
 assumes that payment will be made on February 1, 2027.
 Summary of relevant resources:
 Membership data as of March 31, 2025 was used to measure the impact of
 the bill, the same data used in the Actuarial Valuations dated April 1,
 2025. Distributions and other statistics can be found in the 2025 Report
 of the Actuary and the 2025 Annual Comprehensive Financial Report. The
 actuarial assumptions and methods used are described in the 2025 Annual
 Report to the Comptroller on Actuarial Assumptions, and the Codes, Rules
 and Regulations of the State of New York: Audit and Control. The fair
 value of assets and GASB disclosures can be found in the 2025 Financial
 Statements and Supplementary Information.
 Assumptions, demographics, and other considerations may have been
 modified to better reflect specific provisions of any proposed benefit
 change(s).
 This fiscal note does not constitute a legal opinion on the viability
 of the bill, nor is it intended to serve as a substitute for the profes-
 sional judgment of an attorney.
 This estimate, dated January 5, 2026, and intended for use only during
 the 2026 Legislative Session, is Fiscal Note Number 2026-10. As Chief
 Actuary of the New York State and Local Retirement System (NYSLRS),