S 10329 NY

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Bill No.: Summary Actions Committee&nbspVotes Floor&nbspVotes Memo Text LFIN Chamber&nbspVideo/Transcript S10329 Summary: BILL NO S10329 &nbsp SAME AS SAME AS A10472

&nbsp SPONSOR SANDERS &nbsp COSPNSR &nbsp MLTSPNSR &nbsp

&nbsp Authorizes Tier IV status in the New York state and local employees' retirement system for P'nina Gluck.

Go to top S10329 Text:

STATE OF NEW YORK ________________________________________________________________________

10329

IN SENATE

May 14, 2026 ___________

Introduced by Sen. SANDERS -- 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 Tier IV status in the New York state and local employees' retirement system for P'nina Gluck

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 the law to the 2 contrary, P'nina Gluck, an employee of the New York state assembly and a 3 member the New York state and local employees' retirement system, who 4 was employed on January 1, 2004 who for reasons not ascribable to her 5 own negligence, failed to become a member of such retirement system in 6 2004, shall be deemed to have joined the New York state and local 7 employees' retirement system on the date January 1, 2004 and shall be 8 granted Tier IV status in such retirement system, if, within one year of 9 the effective date of this act, she shall file a written request with 10 the state comptroller. 11 § 2. No contributions made to the New York state and local employees' 12 retirement system by P'nina Gluck shall be returned or refunded to her 13 pursuant to this act. 14 § 3. All past service costs of implementing the provision of this act 15 shall be borne by the state of New York. 16 § 4. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would grant Tier 4 status in the New York State and Local Employees' Retirement System to P'nina Gluck, a current Tier 6 member employed by the New York state assembly, by changing their date of membership to January 1, 2004. There will be no refund of member contributions. We estimate that New York state's annual contributions will increase $9,700 beginning FYE 2027. Annual costs will vary as the billing rates and salary of P'nina Gluck change. In addition, there will be an immediate past service cost of $9,200 borne by New York state as a one-time payment. This cost assumes that payment will be made on March 1, 2027.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14778-02-6

S. 10329 2

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 the GASB disclosures can be found in the 2025 Finan- cial Statements and Supplementary Information. Assumptions, demographics, and 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 February 23, 2026, and intended for use only during the 2026 Legislative Session, is Fiscal Note Number 2026-127. 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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