BILL NUMBER:A10035
TITLE OF BILL: An act relating to retirement options for certain
members of the New York city employees' retirement system
Purpose Or General Idea Of Bill: The purpose of this bill is to
modify retirement application filing requirements for present
employees of the off-track betting corporation who are members of the
New York City employees' retirement system.
Summary Of Specific Provisions: This bill would allow an individual
who, as of the effective date, is both an employee of the off-track
betting corporation established by article VI of the racing,
pari-mutuel wagering and breeding law and a member of the New York
city employees' retirement system to file a written application for
retirement up to the day before the effective date of the retirement.
Justification: The bankruptcy and potential closure of the New York
City Off-Track Betting (NYC OTB) corporation has threatened the layoff
of hundreds of employees, many of whom are presently eligible for
retirement. Some of these employees are members of a retirement tier
that requires a 30-day filing period to apply for retirement benefits.
The modification of the application filing requirement is intended to
provide relief to affected employees while pending NYC OTB solvency
issues are resolved.
S T A T E O F N E W Y O R K
________________________________________________________________________
10035
I N A S S E M B L Y
February 25, 2010
___________
Introduced by M. of A. SILVER, PRETLOW, BRODSKY, ABBATE -- read once and
referred to the Committee on Governmental Employees
AN ACT relating to retirement options for certain members of the New
York city employees' retirement system
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Notwithstanding the provisions of any other general,
special or local law to the contrary, a member of the New York city
employees' retirement system who is employed by the off-track betting
corporation established by article 6 of the racing, pari-mutuel wagering
and breeding law as of the effective date of this act and otherwise
eligible for retirement pursuant to the applicable retirement tier that
such employee is a member of, may retire upon the filing of a written
application with the New York city employees' retirement system board of
trustees up to the day prior to the day he or she desires to be the
effective date of retirement.
S 2. This act shall take effect March 1, 2010; provided, however, if
this act shall become a law after such date it shall take effect imme-
diately and shall be deemed to have been in full force and effect on and
after March 1, 2010.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16160-02-0
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