What's happening
This bill grants Mario C. Donofrio additional retirement credit for his Korean conflict military service upon payment and request.
Why it matters
Sets a precedent for individual retroactive retirement credit. Allowing a single named retiree to claim additional military service credit after retirement—if they pay a portion of the cost—could open the door for similar bills for others, affecting how exceptions to retirement rules are handled.
Introduces shared fiscal responsibility. While Mr. Donofrio pays part of the cost ($5,200), the majority ($13,700) is absorbed by the State and all participating employers, distributing the financial impact beyond the individual and potentially raising concerns about fairness and budget implications.
Recognizes military service in retirement benefits. By crediting Korean conflict service retroactively, the bill reinforces the value placed on military service, which could influence broader policy discussions about veterans’ benefits and recognition within public retirement systems.
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Who cares
Headline styles
Buy Military Retirement Credit
Plain English, a few words. Used as the page title.
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History
- Referred to governmental employees
- Referred to governmental employees
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7806
2017-2018 Regular Sessions
IN ASSEMBLY
May 15, 2017
Introduced by M. of A. SOLAGES -- read once and referred to the Committee on Governmental Employees
AN ACT to grant retirement credit to Mario C. Donofrio for military service during the Korean conflict
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Notwithstanding any other provision of law, Mario C. Donofrio, a retired member of the New York state and local employees' retirement system, having retired on December 31, 1997, who served in the United States military during the Korean conflict, shall be entitled to receive service credit in such retirement system for his time of Korean conflict service if, on or before December 31, 2017 he: (1) shall file a request to such effect with the head of the New York state and local employees' retirement system; and (2) shall pay to the New York state and local employees' retirement system an amount equal to the product of the number of years of military service being claimed and three percent of his final average salary.
§ 2. This act shall take effect immediately and the increase in retirement benefits shall begin on and after such effective date.
FISCAL NOTE.--This bill would grand additional service credit to Mario
C. Donofrio, a retired member of the New York State and Local Employees'
Retirement System, for service rendered in the Korean Conflict.
If this bill is enacted, there will be an immediate past service cost
of approximately $18,900. Of this amount, Mr. Donofrio will be required
to pay $5,200, and the remaining $13,700 will be shared by the State of
New York and all the participating employers in the New York State and
Local Employees' Retirement System.
Summary of relevant resources:
The membership data used in measuring the impact of the proposed
change was the same as that used in the March 31, 2016 actuarial valu-
ation. Distributions and other statistics can be found in the 2016
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04565-02-7
A. 7806 2
Report of the Actuary and the 2016 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2015
and 2016 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, 2016
New York State and Local Retirement System Financial Statements and
Supplementary Information.
I am a member of the American Academy of Actuaries and meet the Quali-
fication Standards to render the actuarial opinion contained herein.
This estimate, dated May 11, 2017, and intended for use only during
the 2017 Legislative Session, is Fiscal Note No. 2017-94, prepared by
the Actuary for the New York State and Local Retirement System.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.