senate Bill S6735

Signed By Governor
2011-2012 Legislative Session

Relates to persons joining certain public retirement systems after April 1, 2012

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 16, 2012 signed chap.18
Mar 15, 2012 delivered to governor
returned to senate
passed assembly
message of necessity - 3 day message
ordered to third reading rules cal.20
substituted for a9558
referred to ways and means
Mar 14, 2012 delivered to assembly
passed senate
message of necessity - 3 day message
ordered to third reading cal.368
referred to rules

S6735 - Details

See Assembly Version of this Bill:
A9558
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd R & SS L, generally; amd §§182, 390, 392 & 6252, Ed L; amd §§13-101 & 13-638.4, NYC Ad Cd; amd §63-c, Exec L

S6735 - Summary

Relates to persons joining certain public retirement systems after April 1, 2012.

S6735 - Sponsor Memo

S6735 - Bill Text download pdf

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

    S. 6735                                                  A. 9558

                      S E N A T E - A S S E M B L Y

                             March 15, 2012
                               ___________

IN  SENATE  --  Introduced  by  COMMITTEE ON RULES -- (at request of the
  Governor) -- read twice and ordered printed, and when  printed  to  be
  committed to the Committee on Rules

IN  ASSEMBLY  --  Introduced by COMMITTEE ON RULES -- (at request of the
  Governor) -- read once and referred to the Committee on Ways and Means

AN ACT to amend the retirement and social security  law,  the  education
  law  and  the administrative code of the city of New York, in relation
  to persons joining the New York state and local employees'  retirement
  system,  the  New  York  state  and  local  police and fire retirement
  system, the New York state teachers' retirement system, the  New  York
  city employees' retirement system, the New York city teachers' retire-
  ment  system,  the New York city board of education retirement system,
  the New York city police pension fund,  or  the  New  York  city  fire
  pension fund on or after April 1, 2012; to amend the executive law, in
  relation to action by the people for illegal receipt or disposition of
  public funds or other property; and to amend the retirement and social
  security law, in relation to benefit enhancements

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

  Section 1. Legislative findings and intent. The legislature finds that
the state's current pension system is financially unsustainable  result-
ing  in  fiscal  instability for the state, local governments and school
districts. Most alarmingly, the dramatic growth  in  pension  costs  has
resulted in a greater stress on the already overburdened taxpayer.
  Moreover,  there is a significant state interest to reform the city of
New York's pension system. Rapid and unsustainable growth of the city of
New York's pension costs has a deleterious effect on the  city,  but  as
importantly,  on  the  financial  security  of  the entire state. As the
financial capital of the world, the entire state relies heavily  on  the
fiscal stability and growth of the city of New York. The ever-increasing
and  dramatic increases in pension costs in the city of New York, howev-
er, are destabilizing the fiscal and economic stability of the  city  of
New  York  and  therefore the state. Thus, rapidly growing New York city

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

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