senate Bill S7089

Authorizes persons rendering services to certain development corporations or centers to continue to receive credit in the State and Local Employees Retirement System

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Bill Status


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

  • 27 / Apr / 2012
    • REFERRED TO CIVIL SERVICE AND PENSIONS
  • 04 / Jun / 2012
    • 1ST REPORT CAL.1010
  • 05 / Jun / 2012
    • 2ND REPORT CAL.
  • 06 / Jun / 2012
    • ADVANCED TO THIRD READING
  • 21 / Jun / 2012
    • COMMITTED TO RULES

Summary

Authorizes persons who are members or retirees of the New York State and Local Employees' Retirement System pursuant to administrative agreements between the Jefferson County Industrial Development Agency and certain development corporations or centers to continue to receive credit for service.

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Bill Details

Versions:
S7089
Legislative Cycle:
2011-2012
Current Committee:
Senate Rules
Law Section:
Retirement

Votes

12
0
12
Aye
0
Nay
0
aye with reservations
0
absent
0
excused
0
abstained
show Civil Service and Pensions committee vote details

Sponsor Memo

BILL NUMBER:S7089

TITLE OF BILL:
An act
to authorize
persons who are members or retirees of the New York State and Local
Employees' Retirement System pursuant to administrative agreements
between the Jefferson County Industrial Development Agency and certain
development corporations or centers to continue to receive credit for
service

PURPOSE:
This bill authorizes persons rendering services to certain development
corporations in Jefferson County to receive credit in the State and
Local Employees Retirement System

SUMMARY:
Section 1 authorizes persons who are rendering, or have rendered
services to certain development corporations in Jefferson County to
receive retirement credit for all such service rendered prior to
January 1, 2013 provided that all required employer and employee
contributions are made to the New York State and Local Employees'
Retirement System.

Section 2 states that this act shall take effective immediately.

JUSTIFICATION:
Pursuant to a recent ruling from the Comptroller, employees who, in
good faith believed they were working for the Jefferson County
Industrial Development Authority, and who were contributing to the
state pension system - for as much as 13 years in some cases, were
determined to be employees of local development corporations and
therefore not entitled to retirement credit.

Not only have these individuals have been making contributions to the
retirement system in good faith, they have received regular
notifications that they were a part of the system, and it is only
fair that they should be allowed to keep the pension credits they
believed, in good faith they were earning, until the end of 2012. Had
these employees not been led to believe they
were members of the state retirement system, they would likely have
been contributing members of their local retirement system, an option
which they cannot now retroactively take advantage of. Restoring the
retirement credits of these employees through 2012 is the just and
fair action to take.

HISTORY:
New bill.

FISCAL IMPACT:
None

EFFECTIVE DATE:
This act shall take effective immediately.


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

                                  7089

                            I N  S E N A T E

                             April 27, 2012
                               ___________

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

AN ACT to authorize persons who are members or retirees of the New  York
  State  and  Local Employees' Retirement System pursuant to administra-
  tive agreements between the Jefferson  County  Industrial  Development
  Agency  and certain development corporations or centers to continue to
  receive credit for service

  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 to the contra-
ry, any person who is or has been a member of the  New  York  State  and
Local  Employees'  Retirement  System  and  is  rendering service or has
rendered service to the Jefferson County  Job  Development  Corporation,
the Jefferson County Local Development Corporation, the Jefferson County
Agricultural  Development  Corporation,  the Watertown Industrial Center
Local Development Corporation, the Watertown  Local  Development  Corpo-
ration, The Economic Development Corporation of the Village of Carthage,
or  The Carthage Industrial Development Corporation pursuant to adminis-
trative service agreements, contract or other arrangements entered  into
between  the  Jefferson  County  Industrial  Development Agency and such
development corporation shall be eligible to receive and  retain  credit
for  service  previously  granted  by the retirement system for all such
service rendered prior to January 1, 2013, provided, however,  that  the
Jefferson  County  Industrial  Development  Agency and the person who is
rendering or has rendered service to the Jefferson County  Job  Develop-
ment  Corporation,  the  Jefferson County Local Development Corporation,
the Jefferson County Agricultural Development Corporation, the Watertown
Industrial Center Local Development  Corporation,  the  Watertown  Local
Development  Corporation,  The  Economic  Development Corporation of the
Village of Carthage, or The Carthage Industrial Development  Corporation
shall  make  all required employer and employee contributions to the New
York State and Local Employees' Retirement System.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15233-04-2

S. 7089                             2

  FISCAL NOTE.--This bill will allow current and  retired  employees  of
the  Jefferson  County  Industrial  Development Agency (JCIDA) to retain
service credit and membership status and obtain additional service cred-
it through December 31, 2012 in the New York State and Local  Employees'
Retirement  System  (ERS)  based upon services rendered to the Jefferson
County Job Development Corporation, the Jefferson County Local  Develop-
ment  Corporation,  the Jefferson County Agricultural Development Corpo-
ration, the Watertown Industrial Center Local  Development  Corporation,
the  Watertown  Local  Development Corporation, The Economic Development
Corporation of the Village of Carthage or The Carthage Industrial Devel-
opment Corporation pursuant to arrangements entered into with the JCIDA.
The JCIDA has paid into the ERS for all such service on behalf of  these
individuals.
  If this bill is enacted, there would be no additional annual costs.
  Summary of relevant resources:
  Data:  March  31,  2011  Actuarial Year End File with distributions of
membership and other statistics displayed in  the  2011  Report  of  the
Actuary and 2011 Comprehensive Annual Financial Report.
  Assumptions  and  Methods:  2010  and  2011 Annual Report to the Comp-
troller on Actuarial Assumptions, Codes Rules  and  Regulations  of  the
State of New York: Audit and Control.
  Market  Assets and GASB Disclosures: March 31, 2011 New York State and
Local Retirement System Financial Statements and Supplementary  Informa-
tion.
  Valuations  of Benefit Liabilities and Actuarial Assets: summarized in
the 2011 Actuarial Valuations report.
  I am a member of the American Academy of Actuaries and meet the Quali-
fication Standards to render the actuarial opinion contained herein.
  This estimate, dated April 25, 2012, and intended for use only  during
the  2012  Legislative Session, is Fiscal Note No. 2012-137, prepared by
the Actuary for the New  York  State  and  Local  Employees'  Retirement
System.

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