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Senate Bill S1029

2009-2010 Legislative Session

Allows discontinued members to be a New York city police pension fund beneficiary for purposes of eligibility to receive supplemental benefits

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

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2009-S1029 (ACTIVE) - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
New York City Administrative Code
Laws Affected:
Amd ยงยง13-268, 13-270 & 13-271, NYC Ad Cd
Versions Introduced in 2011-2012 Legislative Session:
S2133

2009-S1029 (ACTIVE) - Summary

Allows any discontinued member of the NYC Police Pension Fund to be a pension fund beneficiary for purposes of eligibility to receive supplemental benefits from the police officers supplements fund for any time period for which the discontinued member received payments of a deferred retirement allowance under the pension fund's original plan or improved benefits plan; specifies that the date of retirement of the discontinued member for determining benefit eligibility will be deemed to be the first day of the period for which the discontinued member first began receiving such deferred retirement allowance payments.

2009-S1029 (ACTIVE) - Sponsor Memo

2009-S1029 (ACTIVE) - Bill Text download pdf 

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

                                  1029

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            January 22, 2009
                               ___________

Introduced  by  Sen.  KRUGER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions

AN ACT to amend the administrative code of the  city  of  New  York,  in
  relation  to  the  benefits  payable  by the police officer's variable
  supplements fund provided for in such code

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

  Section  1. Subdivision 5 of section 13-268 of the administrative code
of the city of New York, as amended by chapter 247 of the laws of  1988,
is amended to read as follows:
  5. "Pension fund beneficiary". [Any] EXCEPT AS PROVIDED IN SUBDIVISION
F  OF  SECTION  13-271  OF  THIS  SUBCHAPTER,  ANY person who receives a
retirement allowance by reason of having retired, on  or  after  October
first, nineteen hundred sixty-eight, for service (with credit for twenty
or  more  years  of  service  creditable toward the minimum period) as a
member of pension fund, subchapter one or pension fund,  subchapter  two
and as a police officer.
  S 2. Paragraph 2 of subdivision e of section 13-270 of the administra-
tive  code  of the city of New York, as added by chapter 247 of the laws
of 1988, is amended to read as follows:
  (2) The actuary shall base such annual valuation of  liabilities  only
(A)  upon  the  persons who, as of each such June thirtieth, are pension
fund beneficiaries OR PERSONS ELIGIBLE TO RECEIVE SUPPLEMENTAL  BENEFITS
PURSUANT  TO  SUBDIVISION F OF SECTION 13-271 OF THIS SUBCHAPTER and (B)
upon the persons who, being police officers in service as of  such  June
thirtieth,  may  be  actuarially expected to retire thereafter as police
officers for service with twenty or more  years  of  service  creditable
toward the minimum period.
  S 3. Section 13-271 of the administrative code of the city of New York
is amended by adding a new subdivision f to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06802-01-9

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