Assembly Bill A7784A

2013-2014 Legislative Session

Relates to the form of payment of retirement benefits for certain public retirees and beneficiaries

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Archive: Last Bill Status - In Assembly Committee


  • 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

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Bill Amendments

2013-A7784 - Details

See Senate Version of this Bill:
S5608
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§100 & 400, R & SS L
Versions Introduced in 2015-2016 Legislative Session:
A5055

2013-A7784 - Summary

Relates to the form of payment of retirement benefits for certain public retirees and beneficiaries; requires the payment of retirement benefits by the New York state and local employees' retirement system and the New York state and local police and fire retirement system by direct deposit or debit card.

2013-A7784 - Bill Text download pdf

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

                                  7784

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              June 4, 2013
                               ___________

Introduced  by  M. of A. ABBATE -- (at request of the State Comptroller)
  -- read once and referred to the Committee on Governmental Employees

AN ACT to amend the retirement and social security law, in  relation  to
  the form of payment of retirement benefits for certain public retirees
  and beneficiaries

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

  Section 1. Section 100 of the retirement and social  security  law  is
amended to read as follows:
  S  100.  Payment  of retirement allowances.   A. Retirement allowances
shall be payable on the first day of each and every month  beginning  on
the  first  day of the month following the effective date of retirement.
Upon the death of a retired member, however,  the  retirement  allowance
due  for  that part of the month prior to his OR HER death shall be paid
forthwith.
  B. 1. BEGINNING ON A DATE TO BE DETERMINED BY THE COMPTROLLER, BUT  NO
SOONER  THAN JANUARY FIRST, TWO THOUSAND SIXTEEN, ANY RETIREMENT BENEFIT
PAID IN REGULAR PERIODIC INSTALLMENTS TO A PERSON WHO IS  A  RETIREE  OR
BENEFICIARY OF THE RETIREMENT SYSTEM PRIOR TO, ON OR AFTER THE EFFECTIVE
DATE  OF THIS SUBDIVISION SHALL BE MADE BY DIRECT DEPOSIT OR DEBIT CARD,
AS ELECTED BY SUCH RETIREE OR BENEFICIARY,  AND  ADMINISTERED  ELECTRON-
ICALLY,  IN  ACCORDANCE  WITH SUCH GUIDELINES AS MAY BE SET FORTH BY THE
RETIREMENT SYSTEM. THE RETIREMENT SYSTEM SHALL NOTIFY ANY OF  ITS  RETI-
REES AND BENEFICIARIES THAT ARE CURRENTLY NOT RECEIVING THEIR RETIREMENT
PAYMENT  BY  DIRECT DEPOSIT OF THE PROVISIONS OF THIS PARAGRAPH PRIOR TO
SUCH PARAGRAPH BEING IMPLEMENTED.
  2. A RETIREE OR BENEFICIARY MAY SUBMIT A REQUEST  FOR  EXEMPTION  FROM
PARAGRAPH  ONE  OF THIS SUBDIVISION ON A FORM PROVIDED BY THE RETIREMENT
SYSTEM. THE RETIREMENT SYSTEM MAY APPROVE SUCH REQUEST PURSUANT TO REGU-
LATIONS PROMULGATED BY THE COMPTROLLER UPON A DEMONSTRATION OF HARDSHIP.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09754-06-3

              

2013-A7784A (ACTIVE) - Details

See Senate Version of this Bill:
S5608
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §§100 & 400, R & SS L
Versions Introduced in 2015-2016 Legislative Session:
A5055

2013-A7784A (ACTIVE) - Summary

Relates to the form of payment of retirement benefits for certain public retirees and beneficiaries; requires the payment of retirement benefits by the New York state and local employees' retirement system and the New York state and local police and fire retirement system by direct deposit or debit card.

2013-A7784A (ACTIVE) - Bill Text download pdf

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

                                 7784--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              June 4, 2013
                               ___________

Introduced  by  M. of A. ABBATE -- (at request of the State Comptroller)
  -- read once and referred to the Committee on  Governmental  Employees
  --  recommitted  to the Committee on Governmental Employees in accord-
  ance with Assembly Rule  3,  sec.  2  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the retirement and social security law, in  relation  to
  the form of payment of retirement benefits for certain public retirees
  and beneficiaries

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

  Section 1. Section 100 of the retirement and social  security  law  is
amended to read as follows:
  S  100.  Payment  of retirement allowances.   A. Retirement allowances
shall be payable on the first day of each and every month  beginning  on
the  first  day of the month following the effective date of retirement.
Upon the death of a retired member, however,  the  retirement  allowance
due  for  that part of the month prior to his OR HER death shall be paid
forthwith.
  B. 1. BEGINNING ON A DATE TO BE DETERMINED BY THE COMPTROLLER, BUT  NO
SOONER  THAN JANUARY FIRST, TWO THOUSAND SIXTEEN, ANY RETIREMENT BENEFIT
PAID IN REGULAR PERIODIC INSTALLMENTS TO A PERSON WHO IS  A  RETIREE  OR
BENEFICIARY OF THE RETIREMENT SYSTEM PRIOR TO, ON OR AFTER THE EFFECTIVE
DATE  OF THIS SUBDIVISION SHALL BE MADE BY DIRECT DEPOSIT OR DEBIT CARD,
AS ELECTED BY SUCH RETIREE OR BENEFICIARY,  AND  ADMINISTERED  ELECTRON-
ICALLY,  IN  ACCORDANCE  WITH SUCH GUIDELINES AS MAY BE SET FORTH BY THE
RETIREMENT SYSTEM. THE RETIREMENT SYSTEM SHALL NOTIFY ANY OF  ITS  RETI-
REES AND BENEFICIARIES THAT ARE CURRENTLY NOT RECEIVING THEIR RETIREMENT
PAYMENT  BY  DIRECT DEPOSIT OF THE PROVISIONS OF THIS PARAGRAPH PRIOR TO
SUCH PARAGRAPH BEING IMPLEMENTED.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09754-08-3

              

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