Senate Bill S5936

2009-2010 Legislative Session

Grants James DeMarco tier I status

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Sponsored By

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions 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-S5936 - Details

See Assembly Version of this Bill:
A9095
Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement

2009-S5936 - Sponsor Memo

2009-S5936 - Bill Text download pdf 

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

                                  5936

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              June 19, 2009
                               ___________

Introduced  by  Sen.  VOLKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

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-S5936A (ACTIVE) - Details

See Assembly Version of this Bill:
A9095
Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement

2009-S5936A (ACTIVE) - Sponsor Memo

2009-S5936A (ACTIVE) - Bill Text download pdf 

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

                                 5936--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                              June 19, 2009
                               ___________

Introduced  by  Sen.  VOLKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules  --  recommitted  to
  the  Committee on Civil Service and Pensions in accordance with Senate
  Rule  6,  sec.  8  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted 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.
                                                           LBD11174-04-0

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