senate Bill S3989A

Assigns the late John Francis Covell to Tier IV status in the New York state teachers' retirement system as of the date of his death

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 11 / Mar / 2011
    • REFERRED TO CIVIL SERVICE AND PENSIONS
  • 04 / Jan / 2012
    • REFERRED TO CIVIL SERVICE AND PENSIONS
  • 09 / May / 2012
    • AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS
  • 09 / May / 2012
    • PRINT NUMBER 3989A

Summary

Assigns the late John Francis Covell to tier 4 status in the New York state teachers' retirement system as of the date of his death.

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Bill Details

Versions:
S3989
S3989A
Legislative Cycle:
2011-2012
Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement
Versions Introduced in 2009-2010 Legislative Cycle:
S3448

Sponsor Memo

BILL NUMBER:S3989A

TITLE OF BILL:
An act to assign the late John Francis Covell to tier 4 status in the
New York state teachers' retirement system as of the date of his death

PURPOSE:
This bill would allow Mrs. Florence M. Covell, widow of member John F.
Covell who died in active service, to receive a Tier 4 active member
death benefit. Mrs. Covell received the lesser Tier 1 death benefit
because her husband was a Tier 1 member of the New York State Retirement
System at the time of his death. He had recently completed a tier rein-
statement from Tier 4 to Tier 1.

SUMMARY OF PROVISIONS:
See the Purpose section above.

JUSTIFICATION:
It seems that near the time of death of Mr. Covell, that Mr. Covell
mistakenly filled out his retirement forms to transfer to Tier 1 status
when that would not have been in the best interests of himself or his
family. The bill corrects that misfortune due to the confusion of all
parties at the time of Mr. Covell's death.

LEGISLATIVE HISTORY:
S.4294A of 2008, S.3839A of 2006, S.4294A of 2007/2008, S.3448 of
2009/2010

FISCAL IMPLICATIONS:
See attached fiscal note.

EFFECTIVE DATE:
This act shall take effect immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3989--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             March 11, 2011
                               ___________

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

AN  ACT  to  assign the late John Francis Covell to tier 4 status in the
  New York state teachers' retirement system as of the date of his death

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Notwithstanding  any  inconsistent provision of law, John
Francis Covell, a deceased  member  of  the  New  York  state  teachers'
retirement system, shall be deemed to have had tier 4 status as a member
of  said  system on the date of his death. Said system shall recalculate
the benefits payable on account of his death and shall pay such benefits
to his beneficiary as otherwise provided, less  any  amount  already  so
paid.
  S  2.  All  costs  attributable  to the operation of this act shall be
borne by the employers of  members  of  the  New  York  state  teachers'
retirement system.
  S 3. This act shall take effect immediately.
  FISCAL  NOTE.--This  bill would allow Florence M. Covell, the widow of
member John F.  Covell who died in active service, to receive the Tier 4
active member death benefit. Ms. Covell received the lesser Tier 1 death
benefit because her husband was a Tier 1 member of the  New  York  State
Teachers'  Retirement  System at the time of his death.  He had recently
completed a tier reinstatement from Tier 4 to Tier 1.
  The cost for this benefit is equal to  the  increase  in  the  present
value of benefits, which is estimated to be $94,000.
  The  source  of this estimate is Fiscal Note 2012-26 dated May 1, 2012
prepared by the Actuary of  the  New  York  State  Teachers'  Retirement

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03688-04-2

S. 3989--A                          2

System and is intended for use only during the 2012 Legislative Session.
I,  Richard  A.  Young,  am the Actuary for the New York State Teachers'
Retirement System. I am a member of the American  Academy  of  Actuaries
and  I meet the Qualification Standards of the American Academy of Actu-
aries to render the actuarial opinion contained herein.

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