Senate Bill S4735

2009-2010 Legislative Session

Authorizes Walter M. Callahan, a retiree of the New York state and local employees' retirement system to transfer his membership to the New York state teachers' retirement system

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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-S4735 (ACTIVE) - Details

See Assembly Version of this Bill:
A8002
Current Committee:
Senate Civil Service And Pensions
Law Section:
Retirement
Versions Introduced in 2011-2012 Legislative Session:
S3990

2009-S4735 (ACTIVE) - Summary

Authorizes Walter M. Callahan, a retiree of the New York state and local employees' retirement system receiving retirement benefits, to transfer his membership to the New York state teachers' retirement system based upon subsequent employment as a business administrator by a school district.

2009-S4735 (ACTIVE) - Sponsor Memo

2009-S4735 (ACTIVE) - Bill Text download pdf

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

                                  4735

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 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 authorize Walter M. Callahan,  a  retiree  receiving  benefits
  from  the  New  York  state and local employees' retirement system, to
  retroactively terminate his retirement and transfer his membership  in
  such retirement to the New York state teachers' retirement system

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

  Section 1. Notwithstanding any  provision  of  law  to  the  contrary,
Walter  M.  Callahan,  a  retired member of the New York state and local
employees' retirement system who has been receiving enhanced  retirement
benefits  pursuant to the retirement incentive enacted pursuant to chap-
ter 86 of the laws of 2000 since his retirement on November 4, 2000, who
on August 30, 2006 was appointed as a business administrator employed by
a school district, and who upon  assuming  such  business  administrator
position  became  a  member  of  the New York state teachers' retirement
system, shall be entitled to elect to be deemed  retroactively  to  have
transferred  his  membership  in the New York state and local employees'
retirement system to the New  York  state  teachers'  retirement  system
pursuant  to  section 43 of the retirement and social security law as of
November 3, 2000, provided that upon retirement from the New York  state
teachers'  retirement  system,  his  retirement  allowance  shall be (a)
recalculated taking into account the forfeiture of his enhanced  retire-
ment  benefits  by  reason  of  his return to public service pursuant to
section 11 of chapter 41 of the laws of 1997, and  (b)  reduced  by  the
actuarial  equivalent  of  the retirement benefits received by Walter M.
Callahan prior to his election pursuant to this  section;  and  further,
provided,  that  Walter  M.  Callahan  shall not be required to make any
employee contribution to the New York state teachers' retirement  system
and upon retirement from the New York state teachers' retirement system,
his  retirement allowance shall be increased by the actuarial equivalent
of the employee contributions he has made to the New York  state  teach-
ers' retirement system between August 30, 2006 and his election pursuant
to  this  section. In order to effect such retroactive transfer pursuant

              

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