Section 16-B. Notice of change

(1) The comptroller, on or before the
  fifteenth day of October of each year, shall submit to the  director  of
  the  division  of  the  budget  and  the  chairmen of the senate finance
  committee and the assembly ways and means committee  written  notice  of
  any  proposed material change in the annual actuarial valuation provided
  for in this article or any  other  material  change,  other  than  those
  provided  by  legislation  or  resolution,  affecting the state's or any
  other participating employer's estimated or actual  obligations  to  the
  pension  accumulation fund and the New York state public employees group
  life insurance plan for the succeeding fiscal year.
    (2) Notwithstanding any provision of law to the contrary,  for  fiscal
  years  commencing  April  first,  nineteen  hundred  eighty-eight, April
  first, nineteen hundred eighty-nine and April  first,  nineteen  hundred
  ninety  the actuarial value of assets shall be calculated using the five
  year smoothing method that was used for the fiscal year commencing April
  first, nineteen hundred eighty-seven which method has been determined to
  be actuarially sound.