Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 20, 2011 |
signed chap.180 |
Jul 08, 2011 |
delivered to governor |
Jun 16, 2011 |
returned to assembly passed senate 3rd reading cal.1131 substituted for s5485 |
Jun 16, 2011 |
substituted by a8012 |
Jun 14, 2011 |
advanced to third reading |
Jun 13, 2011 |
2nd report cal. |
Jun 07, 2011 |
1st report cal.1131 |
May 25, 2011 |
referred to cities |
Senate Bill S5485
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A8012 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2011-S5485 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8012
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Amd ยง13-638.2, NYC Ad Cd
2011-S5485 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5485 TITLE OF BILL: An act to amend the administrative code of the city of New York, in relation to the rate of regular interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, subchapter two, the fire department pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems SUMMARY OF PROVISIONS: This bill would extend for the one-year period ending on June 30, 2012 the current 8% per annum statutory rate of interest used by the Chief Actuary for the New York City Employees' Retirement System, Teachers' Retirement System, Board of Education Retirement System, Police Pension Fund and Fire Department Pension Fund ("City retirement systems") in valuing retirement system liabilities for the purpose of computing the amount of employer contributions to those systems. The bill also would extend for that same period of time the current rates of supplementary interest,
2011-S5485 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5485 2011-2012 Regular Sessions I N S E N A T E May 25, 2011 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the administrative code of the city of New York, in relation to the rate of regular interest used in the actuarial valu- ation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, subchapter two, the fire department pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 2 of subdivision b of section 13-638.2 of the administrative code of the city of New York, as amended by chapter 265 of the laws of 2010, is amended to read as follows: (2) With respect to each retirement system, such rate of interest shall be as hereinafter set forth in this paragraph: First day and last day of Rate of interest fiscal year or per centum per series of fiscal Retirement annum, compounded years for which System annually rate is effective ________________________________________________________________________ NYCERS 8% July 1, 2004 to June 30, [2011] 2012 NYCTRS 8% July 1, 2004 to EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11552-01-1
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