S 8094 NY

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Bill No.: Summary Actions Committee&nbspVotes Floor&nbspVotes Memo Text LFIN Chamber&nbspVideo/Transcript S08094 Summary: BILL NO S08094B &nbsp SAME AS SAME AS A08941-A

&nbsp SPONSOR JACKSON &nbsp COSPNSR &nbsp MLTSPNSR &nbsp Amd §609, R & SS L &nbsp Provides for retirement credit to fire protection inspector members for a child care leave of absence.

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STATE OF NEW YORK ________________________________________________________________________

8094--B

2025-2026 Regular Sessions

IN SENATE

May 15, 2025 ___________

Introduced by Sen. JACKSON -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Civil Service and Pensions in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee

AN ACT to amend the retirement and social security law, in relation to providing retirement credit to fire protection inspector members for a child care leave of absence

The People of the State of New York, represented in Senate and Assem- bly, do enact as follows:

1 Section 1. Section 609 of the retirement and social security law is 2 amended by adding a new subdivision i to read as follows: 3 i. 1. Notwithstanding any other law or code provision that prohibits a 4 member from receiving retirement credit for any period during which the 5 member was absent on leave without pay, including but not limited to, 6 subdivision c of this section, any fire protection inspector member, as 7 defined in paragraph two of this subdivision, who is absent without pay 8 for a child care leave of absence pursuant to the terms of a collective 9 bargaining agreement covering the fire protection inspector member shall 10 be eligible for credit for such period of child care leave provided such 11 member files a claim for such service credit with the pension fund by 12 December thirty-first, two thousand twenty-six or within ninety days 13 following termination of the child care leave, whichever is later, and 14 contributes to the pension fund an amount which such member would have 15 contributed during the period of such child care leave, together with 16 interest thereon. Service credit provided pursuant to this subdivision 17 shall not exceed one year of credit for each period of authorized child 18 care leave.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11197-07-6

S. 8094--B 2

1 2. For purposes of this subdivision, the term "fire protection inspec- 2 tor member" shall mean a member of the New York city employees' retire- 3 ment system who is employed by the city of New York or by the New York 4 city fire department in a title whose duties are those of a fire 5 protection inspector or associate fire protection inspector, or in a 6 title whose duties require the supervision of employees whose duties are 7 those of a fire protection inspector or associate fire protection 8 inspector. 9 § 2. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: SUMMARY: This proposed legislation would permit Fire Protection Inspectors of the New York City Employees' Retirement System (NYCERS) to apply for and purchase up to one year of service credit for each period of authorized unpaid childcare leave.

ILLUSTRATION - INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS by Fiscal Year for the first 25 years ($) Year One Year of One Year of Service Service Purchased Purchased Per Year 2027 1,200 1,200 2028 1,200 2,500 2029 1,200 3,700 2030 1,200 5,100 2031 1,200 6,400 2032 1,200 7,800 2033 1,200 9,300 2034 1,200 10,800 2035 1,200 12,300 2036 1,200 13,900 2037 1,200 15,500 2038 1,200 17,200 2039 1,200 18,900 2040 1,200 20,700 2041 0 21,300 2042 0 22,000 2043 0 22,600 2044 0 23,300 2045 0 24,000 2046 0 24,700 2047 0 25,500 2048 0 26,200 2049 0 27,000 2050 0 27,800 2051 0 28,700 Employer contribution impact beyond Fiscal Year 2051 is not shown.

The potential increases in employer contributions will be allocated to New York City. PRESENT VALUE OF BENEFITS: The Present Value of Benefits is the discounted expected value of benefits paid to current members if all assumptions are met, including future service accrual and pay increases. Future new hires are not included in this present value.

INITIAL INCREASE (DECREASE) IN ACTUARIAL PRESENT VALUES as of June 30, 2025 ($)

S. 8094--B 3

Present Value (PV) Per Year of Service

(1) PV of Employer Contributions: 10,200 (2) PV of Employee Contributions: 4,100 Total PV of Benefits (1) + (2): 14,300

UNFUNDED ACCRUED LIABILITY (UAL): Actuarial Accrued Liabilities are the portion of the Present Value of Benefits allocated to past service. Changes in UAL per incident would be recognized as ongoing gain/loss.

AMORTIZATION OF UNFUNDED ACCRUED LIABILITY Recognized as Ongoing Gain/Loss Per Year of Service Increase (Decrease) in UAL: 10,200 Number of Payments: 14 Amortization Payment: 1,200

CENSUS DATA: The number of members who will benefit in the future from this proposed legislation is unknown. The estimates presented herein are based on preliminary census data collected as of June 30, 2025. The census data for the potentially impacted population used to develop the average costs is summarized below.

NYCERS Active Members - Number Count: 362 - Average Age: 48.1 - Average Service (before purchase): 11.2 - Average Salary: 91,900

IMPACT ON MEMBER BENEFITS: Currently, Fire Protection Inspector members of NYCERS are not able to purchase service credit for periods while on authorized unpaid childcare leave. Under the proposed legislation, Fire Protection Inspector members would be eligible to purchase up to one year of service credit for each period of authorized unpaid childcare leave, provided that they file a claim within 90 days of the termination of such leave (or by December 31, 2026, if later) and pay the amount that would have been contributed during such leave, with interest. ASSUMPTIONS AND METHODS: The estimates presented herein have been calculated based on the Revised 2021 Actuarial Assumptions and Methods of the impacted retirement systems. The number of members who will benefit from this proposed legislation is unknown. The cost of this proposed legislation could vary greatly depending on the number of future members who benefit and on their length of service, age, and salary history. RISK AND UNCERTAINTY: The costs presented in this Fiscal Note depend highly on the actuarial assumptions, methods, and models used, demo- graphics of the impacted population, and other factors such as invest- ment, contribution, and other risks. If actual experience deviates from actuarial assumptions, the actual costs could differ from those presented herein. Quantifying these risks is beyond the scope of this Fiscal Note. This Fiscal Note is intended to measure pension-related impacts and does not include other potential costs (e.g., administrative and Other Postemployment Benefits). This Fiscal Note does not reflect any chapter laws that may have been enacted during the current legislative session.

S. 8094--B 4

STATEMENT OF ACTUARIAL OPINION: Marek Tyszkiewicz and Gregory Zelikov- sky are members of the Society of Actuaries and the American Academy of Actuaries. We are members of NYCERS, but do not believe it impairs our objectivity, and we meet the Qualification Standards of the American Academy of Actuaries to render the actuarial opinion contained herein. To the best of our knowledge, the results contained herein have been prepared in accordance with generally accepted actuarial principles and procedures and with the Actuarial Standards of Practice issued by the Actuarial Standards Board. FISCAL NOTE IDENTIFICATION: This Fiscal Note 2026-82 dated May 8, 2026 was prepared by the Chief Actuary for the New York City Retirement Systems and Pension Funds and is intended for use only during the 2026 Legislative Session.

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