Senate Bill S3448

2009-2010 Legislative Session

Assigns the late John Francis Covell to Tier 4 status in the New York state teachers' retirement system as of the date of his death

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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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2009-S3448 (ACTIVE) - Details

See Assembly Version of this Bill:
A7025
Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement
Versions Introduced in Other Legislative Sessions:
2011-2012: S3989, A6303
2013-2014: S5334, A7330

2009-S3448 (ACTIVE) - Summary

Assigns the late John Francis Covell to tier 4 status in the New York state teachers' retirement system as of the date of his death.

2009-S3448 (ACTIVE) - Sponsor Memo

2009-S3448 (ACTIVE) - Bill Text download pdf 

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

                                  3448

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 19, 2009
                               ___________

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

AN ACT to assign the late John Francis Covell to tier 4  status  in  the
  New York state teachers' retirement system as of the date of his death

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

  Section 1. Notwithstanding any inconsistent  provision  of  law,  John
Francis  Covell,  a  deceased  member  of  the  New York state teachers'
retirement system, shall be deemed to have had tier 4 status as a member
of said system on the date of his death. Said system  shall  recalculate
the benefits payable on account of his death and shall pay such benefits
to  his  beneficiary  as  otherwise provided, less any amount already so
paid.
  S 2. All costs attributable to the operation  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.--Pursuant to Legislative Law, Section 50:
  This bill would allow Florence M. Covell, the widow of member John  F.
Covell  who  died in active service, to receive the Tier 4 active member
death benefit. Ms. Covell received  the  lesser  Tier  1  death  benefit
because  her husband was a Tier 1 member of the New York State Teachers'
Retirement System at the time of his death. He had recently completed  a
tier reinstatement from Tier 4 to Tier 1.
  The  cost  for  this  benefit  is equal to the increase in the present
value of benefits, which is estimated to be $94,000.
  The source of this estimate is Fiscal Note 2009-23 dated March 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.
                                                           LBD05796-02-9

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