S T A T E O F N E W Y O R K
2015-2016 Regular Sessions
I N S E N A T E
May 29, 2015
Introduced by Sen. MARTINS -- 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 Eric Zausner tier IV status in 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 any other provision of law, Eric Zausner,
2 who is a member of the New York state and local employees' retirement
3 system having tier V status, and who, is employed by the Nassau county
4 board of elections and has been so employed since January 20, 2011, and
5 who, prior to his current employment, was employed by the Nassau county
6 board of elections on a continuous part-time basis for the period begin-
7 ning June 25, 2003 and ending July 6, 2005, and who, for reasons not
8 ascribable to his own negligence, failed to become a member of the New
9 York state and local employees' retirement system on June 25, 2003,
10 shall be deemed to have been a member of such retirement system on June
11 25, 2003, having tier IV status with every right, benefit and privilege
12 which would have been available to him on such date, if, on or before
13 December 31, 2015, he shall file a written request to that effect with
14 the state comptroller.
15 S 2. No contributions made to the New York state and local employees'
16 retirement system by Eric Zausner shall be returned or refunded to him
17 pursuant to this act.
18 S 3. All past service costs associated with the implementation of this
19 act shall be borne by the county of Nassau.
20 S 4. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will grant Tier 4 status in the New York State and Local
Employees' Retirement System to Eric Zausner, a current Tier 5 member
employed by Nassau County, by changing his date of membership to June
25, 2003. There will be no refund of member contributions.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 5711 2
If this legislation is enacted during the 2015 legislative session, we
anticipate that there will be an increase of approximately $2,800 in the
annual contributions of the State of New York for the fiscal year ending
March 31, 2016. In future years, this cost will vary as the billing
rates and salary of Eric Zausner change.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $9,520 which will be
borne by Nassau County as a one-time payment. This estimate is based on
the assumption that payment will be made February 1, 2016.
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, 2014 actuarial valu-
ation. Distributions and other statistics can be found in the 2014
Report of the Actuary and the 2014 Comprehensive Annual Financial
The actuarial assumptions and methods used are described in the 2010,
2011, 2012, 2013 and 2014 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, 2014
New York State and Local Retirement System Financial Statements and
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 28, 2015 and intended for use only during the
2015 Legislative Session, is Fiscal Note No. 2015-113, prepared by the
Actuary for the New York State and Local Employees' Retirement System.