New York A 8622: Establishes the exemplary district mentorship program

Bill Text

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A08622 Summary:

BILL NOA08622 

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SAME ASNo Same As

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SPONSORBenedetto

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COSPNSR

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MLTSPNSR

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Grants retroactive tier IV membership in the New York state and local employees' retirement system to Richard J. Vogt, III.

Go to top A08622 Actions:

BILL NOA08622 

&nbsp

05/22/2025referred to governmental employees

01/07/2026referred to governmental employees

Go to topA08622 Committee&nbspVotes:

Go to topA08622 Floor&nbspVotes:

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

Go to topA08622 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8622

 2025-2026 Regular Sessions

 IN ASSEMBLY

 May 22, 2025
 ___________

 Introduced by M. of A. BENEDETTO -- read once and referred to the
 Committee on Governmental Employees

 AN ACT in relation to granting retroactive tier IV membership in the New
 York state and local employees' retirement system to Richard J. Vogt,
 III

 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 Richard J. Vogt, III, a tier VI member of the New York city employees'
 3 retirement system employed by the New York city department of environ-
 4 mental protection as a sewage treatment worker and who was employed as a
 5 full-time employee with the state university of New York maritime
 6 college from May 1, 2000 through August 30, 2000 and who, through no
 7 fault of his own, did not become a member of the New York state and
 8 local employees' retirement system on May 1, 2000 when he became eligi-
 9 ble for membership in such system, shall be deemed to have a date of
 10 membership with the New York state and local employees' retirement
 11 system of May 1, 2000 if he shall file an application therefore with the
 12 state comptroller within one year of the effective date of this act.
 13 Upon the receipt of such application, Richard J. Vogt, III shall be
 14 granted tier IV status in the New York state and local employees'
 15 retirement system and shall be eligible for all the rights and benefits
 16 thereof.
 17 § 2. All past service costs of implementing the provisions of this act
 18 shall be borne by the state university of New York maritime college, and
 19 there shall be no refund of member contributions to Richard J. Vogt,
 20 III.
 21 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 SUMMARY: This proposed legislation would permit Richard J. Vogt III,
 an active Tier 6 member of the New York City Employees' Retirement

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13096-01-5

 A. 8622 2

 System (NYCERS), to elect, by filing an application with NYCERS within
 one year of the effective date, retroactive membership in the Tier 4
 NYCERS Age 57 Retirement Plan (57/5).

 EXPECTED INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS
 by Fiscal Year for the first 25 years ($)

 Year NYCERS
 2026 0
 2027 7,200
 2028 7,200
 2029 7,300
 2030 7,300
 2031 7,300
 2032 7,400
 2033 7,500
 2034 7,500
 2035 7,600
 2036 7,700
 2037 7,900
 2038 8,000
 2039 8,100
 2040 8,200
 2041 8,100
 2042 6,600
 2043 6,500
 2044 6,400
 2045 6,100
 2046 5,800
 2047 5,100
 2048 4,400
 2049 3,800
 2050 3,200
 Employer Contribution impact beyond Fiscal Year 2050 is not shown.

 The entire increase in employer contributions will be allocated to New
 York City.
 PRESENT VALUE OF BENEFITS: The Present Value of Benefits is the
 discounted expected value of benefits paid to current members if all
 assumptions are met, including future service accrual and pay increases.
 Future new hires are not included in this present value.

 INITIAL INCREASE (DECREASE) IN ACTUARIAL PRESENT VALUES
 as of June 30, 2025 ($)

 Present Value (PV) NYCERS
 (1) PV of Employer Contributions: 82,000
 (2) PV of Employee Contributions: (29,000)
 Total PV of Benefits (1) + (2): 53,000

 UNFUNDED ACCRUED LIABILITY (UAL): Actuarial Accrued Liabilities are
 the portion of the Present Value of Benefits allocated to past service.
 Changes in UAL were amortized over the expected remaining working life-
 time of those impacted using level dollar payments.

 AMORTIZATION OF UNFU