Bill > S09993

This bill grants Joshua David Olsen, a current member of the New York State and Local Employees' Retirement System (NYSLERS) who is employed by the NYS Office for People with Developmental Disabilities, retroactive membership in Tier IV of that system, which is a different and generally more beneficial tier than his current Tier VI status. This change is being made because Olsen, for reasons not his fault, failed to join the retirement system earlier despite being employed in positions that would have qualified him for membership in 1999 and 2002. If he applies within one year of the bill's enactment, he will be considered to have joined NYSLERS on January 1, 1999, and will receive all the rights and benefits of Tier IV membership. The state of New York will cover all past service costs associated with this change, estimated at $78,000 as a one-time payment, and an additional $14,000 in annual contributions starting in fiscal year 2027, with no refund of Olsen's existing contributions.