What's happening
This bill grants Christine Verkey retroactive Tier I status in the New York State and Local Employees' Retirement System.
Why it matters
Sets a precedent for retroactive pension adjustments. if passed, this bill could encourage other public employees in similar situations to seek retroactive changes to their retirement tier, potentially increasing future requests and legislative actions.
Tier I status provides more generous retirement benefits. Christine Verkey would move from Tier 4 (with higher employee contributions, later retirement ages, and less favorable pension calculations) to Tier 1, which offers better benefits and lower contributions.
Direct fiscal impact on state finances. the bill creates an immediate cost of about $39,200 and an ongoing annual increase of roughly $4,000 in state pension contributions, highlighting how individual exceptions can affect public budgets.
Highlights the importance of administrative errors and their correction. the bill addresses a mistake outside the employee’s control, showing the impact administrative oversights can have on lifelong retirement security and the role of legislative remedies.
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Who cares
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Grant Tier 1 Retirement
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to civil service and pensions
- Referred to civil service and pensions
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Grant Tier 1 Retirement Status
In Assembly Committee · Governmental Employees · Sponsor Brian Manktelow
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
951
2019-2020 Regular Sessions
IN SENATE
January 9, 2019
Introduced by Sen. HELMING -- 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 Tier I status in the New York state and local employees' retirement system to Christine Verkey
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, Christine Verkey, who was an employee of the Newark central school district commencing in 1971 and was thereby eligible to participate in the New York state and local employees' retirement system, who through no fault of her own did not become a member of the New York state and local employees' retirement system when she was first employed by the Newark central school district, shall be granted retroactive membership in the New York state and local employees' retirement system with Tier I status, if within one year from the effective date of this act she shall make a written application to that effect, duly executed and filed with such retirement system.
§ 2. No contributions made to the New York state and local employees' retirement system by Christine Verkey shall be returned or refunded to her pursuant to this act.
§ 3. All costs associated with the implementation of this act shall be borne by the state of New York.
§ 4. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will grant Tier 1 status in the New York State and Local
Employees' Retirement System to Christine L. Verkey, a current Tier 4
member employed by the State of New York, by changing her date of
membership to her first date of employment with the Newark Central
School District in 1971. There will be no refund of member contrib-
utions.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06554-01-9
S. 951 2
If this legislation is enacted during the 2019 legislative session, we
anticipate that there will be an increase of approximately $4,000 in the
annual contributions of the State of New York for the fiscal year ending
March 31, 2020. In future years, this cost will vary as the billing rate
and salary of Christine L. Verkey change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $39,200 which will be
borne by the State of New York as a one-time payment. This estimate is
based on the assumption that payment will be made on March 1, 2020.
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, 2018 actuarial valu-
ation. Distributions and other statistics can be found in the 2018
Report of the Actuary and the 2018 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2015,
2016, 2017, and 2018 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, 2018
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 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 January 3, 2019, and intended for use only during
the 2019 Legislative Session, is Fiscal Note No. 2019-11, 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.
Sponsor's memo
Title of bill
An act in relation to granting Tier I status in the New York state and local employees' retirement system to Christine Verkey
Purpose
To grant retroactive membership in the New York State and Local retire- ment system with Tier 1 status.
Summary of specific provisions
To correct Christine Verkey's tier status in the New York State Retire- ment Local System so that it accurately reflects her service employment record by including her employment with the New York State Courts which commenced in 1971.
Justification
Christine Verkey is currently a member of the New York state Local retirement system, Tier 4 who through no fault of her own did not become a member of the New York Local Retirement System when she was employed by the fourth judicial department of the New York State Court system in 1971. Such employment would entitle her to Tier 1 status.
Prior legislative history
S.7739-Referred to Civil Service and Pensions
Fiscal implications
See fiscal note.
Effective date
This act will take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.