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Assembly Bill A8719

2009-2010 Legislative Session

Authorizes Antonia Keesler to change her retirement option

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2009-A8719 - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Retirement

2009-A8719 - Sponsor Memo

2009-A8719 - Bill Text download pdf 

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

                                  8719

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              June 4, 2009
                               ___________

Introduced  by M. of A. GUNTHER -- read once and referred to the Commit-
  tee on Governmental Employees

AN ACT authorizing Antonia Keesler to change her retirement option

  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 contrary,
Antonia  Keesler,  who was employed by the Sullivan County BOCES and who
retired from the New York State Teachers'  Retirement  System  effective
April  23,  2008,  and for reasons not ascribable to her own negligence,
failed to change her retirement option selection prior to the expiration
of thirty days following the date of payability of her retirement allow-
ance, shall be deemed to have retired pursuant to the terms of the Maxi-
mum Option.
  S 2. The costs of implementing the provisions of  this  act  shall  be
borne  by  the  employers  of  members  of  the New York state teachers'
retirement system.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--This bill would allow Antonia Keesler, a retired  member
of  the  New  York  State  Teachers' Retirement System, to retroactively
change her optional form of benefit to the Maximum Option.  Ms.  Keesler
retired  April  23, 2008 under the Largest Lump Sum Option and failed to
change her retirement option selection prior to the  expiration  of  the
thirty  day  period following the date of retirement benefit as required
by statute.
  The cost of this benefit is equal to the increase in the present value
of the liability, which is estimated to be $8,000.
  The source of this estimate is Fiscal Note 2009-71 dated June 2,  2009
prepared  by  the  Actuary  of  the  New York State Teachers' Retirement
System and is intended for use only during the 2009 Legislative Session.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10173-02-9

2009-A8719A (ACTIVE) - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Retirement

2009-A8719A (ACTIVE) - Sponsor Memo

2009-A8719A (ACTIVE) - Bill Text download pdf 

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

                                 8719--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              June 4, 2009
                               ___________

Introduced  by M. of A. GUNTHER -- read once and referred to the Commit-
  tee on Governmental Employees  --  recommitted  to  the  Committee  on
  Governmental  Employees  in accordance with Assembly Rule 3, sec. 2 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN ACT authorizing Antonia Keesler to change her retirement option

  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 contrary,
Antonia Keesler, who was employed by the Sullivan County BOCES  and  who
retired  from  the  New York State Teachers' Retirement System effective
April 23, 2008, and for reasons not ascribable to  her  own  negligence,
failed to change her retirement option selection prior to the expiration
of thirty days following the date of payability of her retirement allow-
ance, shall be deemed to have retired pursuant to the terms of the Maxi-
mum Option.
  S  2.  The  costs  of implementing the provisions of this act shall be
borne by the employers of  members  of  the  New  York  State  Teachers'
Retirement System.
  S 3. This act shall take effect immediately.
  FISCAL  NOTE.--This bill would allow Antonia Keesler, a retired member
of the New York State  Teachers'  Retirement  System,  to  retroactively
change  her  optional form of benefit to the Maximum Option. Ms. Keesler
retired April 23, 2008 under the Largest Lump Sum Option and  failed  to
change  her  retirement  option selection prior to the expiration of the
thirty day period following the date of retirement benefit  as  required
by statute.
  The cost of this benefit is equal to the increase in the present value
of the liability, which is estimated to be $14,000.
  The  source  of  this  estimate is Fiscal Note 2010-41 dated April 26,
2010 prepared by the Actuary of the New York State Teachers'  Retirement
System and is intended for use only during the 2010 Legislative Session.

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

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