Assembly Bill A9095

2009-2010 Legislative Session

Grants James DeMarco Tier I status

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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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Bill Amendments

2009-A9095 - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Retirement

2009-A9095 - Sponsor Memo

2009-A9095 - Bill Text download pdf 

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

                                  9095

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             August 17, 2009
                               ___________

Introduced by M. of A. CORWIN -- read once and referred to the Committee
  on Governmental Employees

AN  ACT  granting  retroactive  membership with tier I status in the New
  York teachers' retirement system to James J. DeMarco

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

  Section  1.  Notwithstanding  any  other law to the contrary, James J.
DeMarco, who was employed as a seasonal employee with the New York power
authority with a start date of July 17, 1969, and  who  is  currently  a
retired  member  of  the New York state teachers' retirement system, who
through no fault of his own did not become a  member  of  the  New  York
state and local employees' retirement system on July 17, 1969 when first
employed by the New York power authority shall be deemed to have  been a
member  of  the New York state and local employees' retirement system on
such date he commenced his  employment  and  shall  be  granted  Tier  I
status,  provided  that an application is filed with the head of the New
York state teachers' retirement system within one year from  the  effec-
tive date of this act.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would allow James J. DeMarco, a retired Tier 2 member of the
New York State Teachers' Retirement System, to be reclassified as a Tier
I member. His date of membership would be changed based upon his employ-
ment  as  a  seasonal employee in 1969 for the New York Power Authority.
Additionally, Mr. DeMarco's pension would be recalculated with  retroac-
tive  adjustment to payments made since his date of retirement of Decem-
ber 7, 2007.
  The cost of this benefit is equal to the increase in the present value
of liabilities, which is estimated to be $306,000.
  The source of this estimate is Fiscal Note 2009-81 dated June 17, 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.

2009-A9095A (ACTIVE) - Details

Current Committee:
Assembly Governmental Employees
Law Section:
Retirement

2009-A9095A (ACTIVE) - Sponsor Memo

2009-A9095A (ACTIVE) - Bill Text download pdf 

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

                                 9095--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             August 17, 2009
                               ___________

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

AN  ACT  granting  retroactive  membership with tier I status in the New
  York teachers' retirement system to James J. DeMarco

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

  Section  1.  Notwithstanding  any  other law to the contrary, James J.
DeMarco, who was employed as a seasonal employee with the New York power
authority with a start date of July 17, 1969, and  who  is  currently  a
retired  member  of  the New York state teachers' retirement system, who
through no fault of his own did not become a  member  of  the  New  York
state and local employees' retirement system on July 17, 1969 when first
employed by the New York power authority shall be deemed to have  been a
member  of  the New York state and local employees' retirement system on
such date he commenced his  employment  and  shall  be  granted  Tier  I
status,  provided  that an application is filed with the head of the New
York state teachers' retirement system within one year from  the  effec-
tive date of this act.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would allow James J. DeMarco, a retired Tier 2 member of the
New York State Teachers' Retirement System, to be reclassified as a Tier
1 member. His date of membership would be changed based upon his employ-
ment  as  a  seasonal employee in 1969 for the New York Power Authority.
Additionally, Mr. DeMarco's pension would be recalculated with  retroac-
tive  adjustment to payments made since his date of retirement of Decem-
ber 7, 2007.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11174-05-0

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