Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to governmental employees |
Apr 05, 2011 |
referred to governmental employees |
Assembly Bill A6847
2011-2012 Legislative Session
Sponsored By
ABBATE
Archive: Last Bill Status - In Assembly 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
Actions
2011-A6847 (ACTIVE) - Details
- Current Committee:
- Assembly Governmental Employees
- Law Section:
- Education Law
- Laws Affected:
- Rpld §535 sub 6, Ed L
2011-A6847 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6847 2011-2012 Regular Sessions I N A S S E M B L Y April 5, 2011 ___________ Introduced by M. of A. ABBATE -- read once and referred to the Committee on Governmental Employees AN ACT to repeal subdivision 6 of section 535 of the education law relating to the maximum retirement benefit limitation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 6 of section 535 of the education law is REPEALED. S 2. This act shall take effect immediately except that if this act shall have become a law on or after June 30, 2011 this act shall take effect immediately but shall be deemed to have been in full force and effect on and after June 30, 2011. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would repeal subdivision 6 of section 535 of the Education Law. The benefit cap of 75% of final average salary for Tier 1 and Tier 2 members of the New York State Teachers' Retirement System would be removed. The annual cost to the employers of members of the New York State Teachers' Retirement System for this benefit is estimated to be $20.3 million or .13% of payroll if this bill is enacted. The source of this estimate is Fiscal Note 2011-23 dated March 16, 2011 prepared by the Actuary of the New York State Teachers' Retirement System and is intended for use only during the 2011 Legislative Session. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10576-01-1
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