Relates to granting retroactive tier II membership in the NY state and local police and fire retirement system for Giuseppe T. Rosini, the official text

S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7854
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                May 9, 2025
                                ___________
 
 Introduced  by  Sen. PALUMBO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT in relation to granting retroactive Tier II membership in the New
   York state and local police and fire retirement system to Giuseppe  T.
   Rosini

   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,  Giuseppe  T.
 Rosini, a member of the New York state and local police and fire retire-
 ment  system,  who  was  employed by the Wading River Fire District from
 October 2004 through December 2008, who, for reasons not  ascribable  to
 his  own  negligence,  and as acknowledged as an error or mistake by the
 Wading River Fire Department in failing to notify Giuseppe T. Rosini  of
 his  eligibility to enroll or providing an opportunity to enroll in such
 retirement system based on his  part-time  employment  with  the  Wading
 River  Fire Department, did not file a membership application in the New
 York state and local police  and  fire  retirement  system  during  such
 employment  with the Wading River Fire District, and who would have been
 eligible to enroll as a member in the New York State  and  Local  Police
 and Fire Retirement System as a Tier II status member at the time of his
 employment  with  the  Wading  River  Fire  Department, did not become a
 member of the New York state and local police and fire retirement system
 until December 15, 2014, which gave him Tier VI status instead  of  Tier
 II status.
   §  2.  Notwithstanding any other provision of law, Giuseppe T. Rosini,
 who is currently employed by the town of Riverhead,  may  be  deemed  to
 have  become  a  member  of the New York state and local police and fire
 retirement system on October 25, 2004  if,  within  six  months  of  the
 effective  date  of this act, he shall file with the state comptroller a
 written request to that effect. Upon the granting  of  such  retroactive
 membership,  Giuseppe  T.  Rosini  shall  not be granted a refund of any
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04421-04-5
 S. 7854                             2
 
 employee contribution made by him to the New York state and local police
 and fire retirement system and any and all such contributions  shall  be
 credited  toward and used to pay costs and outstanding contributions due
 and  owing  to  the  New York state and local police and fire retirement
 system associated with the implementation of this act.
   § 3. All past service costs associated with the implementation of this
 act that are related to Giuseppe T. Rosini's employment with the  Wading
 River Fire District shall be borne by the Wading River Fire District.
   §  4.  All other past service costs associated with the implementation
 of this act shall be borne by the town of Riverhead.
   § 5. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would grant Tier 2 status in the New York  State  and  Local
 Police  and Fire Retirement System to Giuseppe T. Rosini, a current Tier
 6 member employed by the Town of Riverhead, by changing  their  date  of
 membership  to  October  25,  2004,  their first date of employment with
 Wading River Fire District. There will be no refund of  member  contrib-
 utions.
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate  that  there  will  be an increase of approximately $18,000 in the
 annual contributions of the Town of Riverhead for the fiscal year ending
 March 31, 2026. In future years this cost will vary as the billing rates
 and salary of Giuseppe T. Rosini change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately  $2,880  which  will  be
 borne  by the Town of Riverhead. This estimate assumes that payment will
 be made on February 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 professional judgment of an attorney.
   This estimate, dated May 5, 2025, and intended for use only during the
 2025  Legislative Session, is Fiscal Note No. 2025-154. As Chief Actuary
 of the New York State and Local Retirement  System,  I,  Aaron  Schottin
 Young,  hereby certify that this analysis complies with applicable Actu-
 arial Standards of Practice as well as the Code of Professional  Conduct
 and Qualification Standards for Actuaries Issuing Statements of Actuari-
 al Opinion of the American Academy of Actuaries, of which I am a member.