Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 07, 2012 |
referred to civil service and pensions |
Senate Bill S7610
2011-2012 Legislative Session
Sponsored By
(D, IP) Senate District
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
Actions
2011-S7610 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10612
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Amd §§514 & 610, R & SS L; amd §539, Ed L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
A6759
2015-2016: A7008
2011-S7610 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7610 TITLE OF BILL: An act to amend the retirement and social security law and the education law, in relation to permitting certain retired members of the New York State Teachers' Retirement System or the New York City Teachers' Retirement System to change their retirement options with the consent of the nominated survivor beneficiary PURPOSE: Allows a change in the retirement options for retired members of the New York State Teachers' Retirement System (NYSTRS) or the New York City Teachers' Retirement System (NYCTRS) with the consent of the nominated survivor beneficiary. SUMMARY OF PROVISIONS: §1- Amends §514 of the Retirement and Social Security Law by adding a new subdivision e to provide for the option of post-retirement beneficiary changes with nominated survivors consent for members of NYCTRS. §2- Amends §610 of the Retirement and Social Security Law by adding a
2011-S7610 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7610 I N S E N A T E June 7, 2012 ___________ Introduced by Sen. SAVINO -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT to amend the retirement and social security law and the education law, in relation to permitting certain retired members of the New York State Teachers' Retirement System or the New York City Teachers' Retirement System to change their retirement options with the consent of the nominated survivor beneficiary THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 514 of the retirement and social security law is amended by adding a new subdivision e to read as follow: E. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, WHERE A RETIRED MEMBER OF THE NEW YORK CITY TEACHERS' RETIREMENT SYSTEM HAS NOMINATED HIS OR HER SPOUSE AS THE SURVIVOR BENEFICIARY UNDER OPTION ONE, TWO OR FIVE PROVIDED FOR IN SUBDIVISION A OF THIS SECTION, AND SUCH PERSON SO NOMI- NATED CEASES BY CAUSES OTHER THAN DEATH TO BE HIS OR HER SPOUSE OR IS SEPARATED FROM HIM OR HER, OR IF SUCH OPTION WAS SELECTED IN CONTEM- PLATION OF MARRIAGE WHICH HAS NOT TAKEN PLACE, THEN THE BOARD OF TRUS- TEES OF SUCH RETIREMENT SYSTEM SHALL HAVE THE AUTHORITY TO PERMIT THE CHANGE OF SUCH OPTION TO THE MAXIMUM BENEFIT THAT IS THE ACTUARIAL EQUIVALENT BY AND WITH THE CONSENT OF ALL PARTIES. S 2. Section 610 of the retirement and social security law is amended by adding a new subdivision g to read as follows: G. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, WHERE A RETIRED MEMBER OF THE NEW YORK CITY TEACHERS' RETIREMENT SYSTEM HAS NOMINATED HIS OR HER SPOUSE AS THE SURVIVOR BENEFICIARY UNDER OPTION ONE, TWO OR FIVE PROVIDED FOR IN SUBDIVISION A OF THIS SECTION, AND SUCH PERSON SO NOMI- NATED CEASES BY CAUSES OTHER THAN DEATH TO BE HIS OR HER SPOUSE OR IS SEPARATED FROM HIM OR HER, OR IF SUCH OPTION WAS SELECTED IN CONTEM- PLATION OF MARRIAGE WHICH HAS NOT TAKEN PLACE, THEN THE BOARD OF TRUS- TEES OF SUCH RETIREMENT SYSTEM SHALL HAVE THE AUTHORITY TO PERMIT THE CHANGE OF SUCH OPTION TO THE MAXIMUM BENEFIT THAT IS THE ACTUARIAL EQUIVALENT BY AND WITH THE CONSENT OF ALL PARTIES. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16074-01-2
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