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S T A T E O F N E W Y O R K
________________________________________________________________________
8735
2025-2026 Regular Sessions
I N A S S E M B L Y
June 2, 2025
___________
Introduced by M. of A. SLATER -- read once and referred to the Committee
on Governmental Employees
AN ACT authorizing Breanne M. Smith to receive a refund of certain accu-
mulated contributions paid to the New York state and local employees'
retirement system
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Notwithstanding the provisions of subdivision b of section
2 902 of the retirement and social security law, Breanne M. Smith, a Tier
3 4 member of the New York state and local employees' retirement system,
4 who was formerly a Tier 4 member of the New York city employee retire-
5 ment system with six years and five months of service credit who then
6 paid contributions as a Tier 6 member of the New York state and local
7 employees' retirement system employee employed at the Putnam County
8 district attorney's office during the period of January, 2016 through
9 March 8, 2023 and initiated a tier reinstatement on July 12, 2019, shall
10 be entitled to a refund of the accumulated contributions paid to the New
11 York state and local employees' retirement system for the period in
12 which the tier reinstatement was not initiated and a cessation date was
13 not established, if an application is filed within one year of the
14 effective date of this act.
15 § 2. Notwithstanding any other provision of law to the contrary, none
16 of the provisions of this act shall be subject to section 25 of the
17 retirement and social security law.
18 § 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would authorize the return of member contributions made
during the period of January 13, 2016 through July 12, 2019 to Breanne
Smith, a current member of the New York State and Local Employees'
Retirement System (NYSLERS) employed by Putnam County.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11148-03-5
A. 8735 2
If this bill is enacted during the 2025 Legislative Session, we antic-
ipate that there will be an immediate past service cost of approximately
$17,800 as of February 1, 2026, which would be shared by the State of
New York and the local participating employers in NYSLERS. This bill
will not increase the future annual contributions of Putnam County.
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 22, 2025, and intended for use only during
the 2025 Legislative Session, is Fiscal Note No. 2025-133. 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.