Senate Bill S6746

2015-2016 Legislative Session

Relates to the minimum retirement allowance

download bill text pdf

Sponsored By

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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2015-S6746 (ACTIVE) - Details

See Assembly Version of this Bill:
A6867
Current Committee:
Assembly Ways And Means
Law Section:
Education Law
Laws Affected:
Amd ยง532, Ed L
Versions Introduced in 2013-2014 Legislative Session:
S4496

2015-S6746 (ACTIVE) - Summary

Relates to the minimum retirement allowance for certain pensioners who retired prior to July 1, 1980.

2015-S6746 (ACTIVE) - Sponsor Memo

2015-S6746 (ACTIVE) - Bill Text download pdf

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

                                  6746

                            I N  S E N A T E

                            February 12, 2016
                               ___________

Introduced by Sen. FARLEY -- (at request of the New York State Teachers'
  Retirement System) -- read twice and ordered printed, and when printed
  to be committed to the Committee on Civil Service and Pensions

AN ACT to amend the education law, in relation to the minimum retirement
  allowance  for  members  of  the  New  York state teachers' retirement
  system who retired prior to July 1, 1980

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

  Section  1.  Paragraph 1 of subdivision e of section 532 of the educa-
tion law, as amended by chapter 580 of the laws of 2001, is  amended  to
read as follows:
  1.  Each  pensioner  of  the retirement system who retired before July
first, nineteen hundred [seventy] EIGHTY shall be paid, commencing  with
a  payment  for  the  month  of  July two thousand [one] SIXTEEN a basic
supplemental pension, the total of which when added to his OR HER yearly
retirement allowance computed without optional modification, but exclud-
ing any annuity derived from contributions made by members  pursuant  to
paragraphs a and b of subdivision three of section five hundred sixteen,
section  five  hundred  twenty-eight,  section five hundred twenty-nine,
section five hundred  thirty,  section  five  hundred  thirty-three  and
section five hundred thirty-five of this article, shall equal the lesser
of [seventeen thousand five hundred] NINETEEN THOUSAND TWO HUNDRED FIFTY
dollars  or  the  sum  of  five  hundred FIFTY dollars multiplied by the
number of years of full-time New York state service not to exceed  thir-
ty-five  years  with  which he OR SHE was credited at the time of his OR
HER retirement.
  S 2. This act shall take effect June 30, 2016, except that if this act
shall have become a law on or after June 30, 2016, this act  shall  take
effect  immediately  and  shall be deemed to have been in full force and
effect on and after June 30, 2016.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would extend the minimum retirement  benefit  provision  for
retirees  of the New York State Teachers' Retirement System contained in
Section 532(e) of the Education Law to members who retired  before  July

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

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