S T A T E O F N E W Y O R K
2011-2012 Regular Sessions
I N S E N A T E
May 6, 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-
AN ACT to authorize Kim F. Salinovich to purchase service credit in the
New York state teachers' retirement system for certain employment as a
high school equivalency instructor
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Notwithstanding any other provision of law, Kim F. Salino-
vich, a retired member of the New York state teachers' retirement
system, who was employed as a high school equivalency instructor by the
Hudson Valley Opportunities Industrialization Center from November 1979
through August 1981 and November 1982 through August 1987, and such if
it had been performed for an employer defined in subdivision 3 of
section 501 of the education law would constitute service as a teacher,
shall be authorized to purchase service credit in such retirement system
for her employment by the Hudson Valley Opportunities Industrialization
Center if, within 180 days of the effective date of this act, she
applies to the head of the New York state teachers' retirement system.
Ms. Salinovich shall be required to pay to the New York state teach-
ers' retirement system an amount equal to three percent of the salary
she received for the period of service being claimed, with regular
interest thereon, from the school years in which the service was
rendered to the date of purchase.
S 2. All costs attributable to the implementation of this act, other
than the costs to be borne by Kim F. Salinovich pursuant to section one
of this act, shall be borne by the employers of members of the New York
state teachers' retirement system.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
S. 5330--A 2
S 3. This act shall take effect immediately.
FISCAL NOTE.--This bill would allow Kim F. Salinovich, a retired
member of the New York State Teachers' Retirement System, to purchase
service credit for time worked as a high school equivalency instructor
at Hudson Valley Opportunities Industrialization Center, Inc. from
November 1979 through August 1981 and November 1982 through August 1987.
The service credit will be granted as if the service was performed for a
participating employer defined in subdivision 3 of section 501 of the
Education Law. Ms. Salinovich will be required to pay three percent of
salary received for the period of service being claimed with regular
interest thereon. Ms. Salinovich's pension would be recalculated with
retroactive adjustment to payments made since her date of retirement of
July 1, 2011. Ms. Salinovich must file a written request with the head
of the New York State Teachers' Retirement System within 180 days of the
effective date of this bill.
The cost of this benefit is equal to the increase in the present value
of liabilities, which is estimated to be $303,000.
The source of this estimate is Fiscal Note 2012-27 dated May 1, 2012
prepared by the Actuary of the New York State Teachers' Retirement
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.