S 10207 NY

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Bill No.: Summary Actions Committee&nbspVotes Floor&nbspVotes Memo Text LFIN Chamber&nbspVideo/Transcript S10207 Summary: BILL NO S10207 &nbsp SAME AS SAME AS A11241

&nbsp SPONSOR WEBER &nbsp COSPNSR &nbsp MLTSPNSR &nbsp

&nbsp Authorizes George Orfanoudakis to receive certain retroactive membership in the New York state and local police and fire retirement system.

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STATE OF NEW YORK ________________________________________________________________________

10207

IN SENATE

May 5, 2026 ___________

Introduced by Sen. WEBER -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions

AN ACT in relation to authorizing George Orfanoudakis to receive certain retroactive membership in the New York state and local police and fire 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 to the contrary, 2 George Orfanoudakis, currently a member of the New York state and local 3 police and fire retirement system, who was employed by the North Rock- 4 land Central School District on June 25, 2005 who, for reasons not 5 ascribable to his own negligence, failed to become a member of the New 6 York state and local employees' retirement system during his employment 7 with the North Rockland Central School District, shall be deemed to have 8 joined the New York state and local police and fire retirement system on 9 the date June 25, 2005 and shall be granted Tier II status in such 10 retirement system, if within one year of the effective date of this act, 11 he shall file a written request with the state comptroller to such 12 effect. Upon the granting of such retroactive membership, George Orfa- 13 noudakis shall not be granted a refund of any employee contributions 14 made by him to the New York state and local police and fire retirement 15 system. 16 § 2. All past service costs associated with the implementation of this 17 act shall be borne by the state of New York. 18 § 3. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would grant Tier 2 status in the New York State and Local Police and Fire Retirement System to George Orfanoudakis, a current Tier 5 member employed by the Division of State Police, by changing their date of membership to June 25, 2005. There will be no refund of member contributions. We estimate that the state of New York's annual contributions will increase $12,000 beginning FYE 2027. Annual costs will vary as the bill- ing rates and salary of George Orfanoudakis change.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15339-03-6

S. 10207 2

In addition, there will be an immediate past service cost of $300 borne by the state of New York as a one-time payment. This cost assumes that payment will be made on March 1, 2027. Summary of relevant resources: Membership data as of March 31, 2025 was used to measure the impact of the bill, the same data used in the Actuarial Valuations dated April 1, 2025. Distributions and other statistics can be found in the 2025 Report of the Actuary and the 2025 Annual Comprehensive Financial Report. The actuarial assumptions and methods used are described in the 2025 Annual Report to the Comptroller on Actuarial Assumptions, and the Codes, Rules and Regulations of the State of New York: Audit and Control. The fair value of assets and GASB disclosures can be found in the 2025 Financial Statements and Supplementary Information. Assumptions, demographics, and other considerations may have been modified to better reflect specific provisions of any proposed benefit change(s). This fiscal note does not constitute a legal opinion on the viability of the bill, nor is it intended to serve as a substitute for the profes- sional judgment of an attorney. This estimate, dated April 24, 2026, and intended for use only during the 2026 Legislative Session, is Fiscal Note Number 2026-172 REVISED. As Chief Actuary of the New York State and Local Retirement System (NYSLRS), I, Aaron Schottin Young, hereby certify that this analysis complies with applicable 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 Actu- aries, of which I am a member. I am a member of NYSLRS but do not believe it impairs my objectivity.

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