Authorizes the county of Tompkins to offer an optional twenty year retirement plan to Bryan Jolly, a deputy sheriff employed by such county, the official text

S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7848
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                May 9, 2025
                                ___________
 
 Introduced  by  Sen.  WEBB  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT to authorize the county of Tompkins to offer an  optional  twenty
   year retirement plan to Bryan Jolly, a deputy sheriff employed by such
   county

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Notwithstanding any other provision of law to the contrary,
 Bryan Jolly, a member of the optional twenty-five year  retirement  plan
 for  certain  sheriffs,  undersheriffs,  deputy  sheriffs and correction
 officers pursuant to section 89-p of the retirement and social  security
 law, who was employed by Tompkins county as a deputy sheriff as of March
 12,  2018,  and who through no fault of his own, failed to file a timely
 application to participate in the special twenty  year  retirement  plan
 contained  in sections 552 and 553 of the retirement and social security
 law at the time of his promotion to  deputy  sheriff  resulting  in  the
 crediting  of  his service with the county of Tompkins in the retirement
 plan contained in section 89-p of such law, shall be given  full  credit
 in the sections 552 and 553 twenty year retirement plan for such service
 as  a  deputy  sheriff  upon  the  election of the county of Tompkins to
 assume the additional cost of such service and his election  to  partic-
 ipate  in such plan. The county of Tompkins may so elect within one year
 of the effective date of this act, by filing with the state  comptroller
 a  resolution  of its local legislative body together with certification
 that such member did not bar himself from participation in such  retire-
 ment plan as a result of his own negligence.
   §  2. Such deputy sheriff may elect to be covered by the provisions of
 sections 552 and 553 of the retirement and social security law and shall
 be entitled to the full rights and  benefits  associated  with  coverage
 under  such  section  by  filing a request to that effect with the state
 comptroller within eighteen months of the effective date of this act.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02475-03-5
 S. 7848                             2
 
   § 3. All employer past service costs associated with  the  implementa-
 tion of this act shall be borne by Tompkins county, and may be amortized
 over a period of five years.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  allow Bryan Jolly, a current member of the New York
 State and Local Employees' Retirement System employed as a deputy  sher-
 iff  by Tompkins County and covered under the 25-year retirement plan of
 §89-p of the Retirement and Social Security Law (RSSL), to elect  to  be
 covered under the 20-year plan of §552 and §553 of the RSSL.
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate  that  there  will  be  an increase of approximately $8,900 in the
 annual contributions of Tompkins County for the fiscal year ending March
 31, 2026. In future years this cost will vary as the billing  rates  and
 salary of Bryan Jolly change.
   In addition to the annual contributions discussed above, there will be
 an  immediate  past  service cost of approximately $69,300 which will be
 borne by Tompkins County as a one-time payment.  This  estimate  assumes
 that payment will be made on February 1, 2026. If Tompkins County elects
 to  amortize  this  cost over a five-year period, the cost for each year
 including interest would be $15,500.
   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 professional judgment of an attorney.
   This estimate, dated March 27, 2025, and intended for use only  during
 the  2025  Legislative  Session,  is  Fiscal Note No. 2025-114. As Chief
 Actuary of the New York State and  Local  Retirement  System,  I,  Aaron
 Schottin Young, hereby certify that this analysis complies with applica-
 ble  Actuarial Standards of Practice as well as the Code of Professional
 Conduct and Qualification Standards for Actuaries Issuing Statements  of
 Actuarial  Opinion of the American Academy of Actuaries, of which I am a
 member.