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Assembly Bill A5842

2013-2014 Legislative Session

Allows public employers to establish reserve funds to defray contributions to the New York State Teachers' Retirement System

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Archive: Last Bill Status - In Assembly Committee

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2013-A5842 (ACTIVE) - Details

Current Committee:
Assembly Governmental Employees
Law Section:
General Municipal Law
Laws Affected:
Amd ยง6-r, Gen Muni L

2013-A5842 (ACTIVE) - Summary

Allows public employers to establish reserve funds to defray contributions to the New York State Teachers' Retirement System.

2013-A5842 (ACTIVE) - Bill Text download pdf 

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

                                  5842

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              March 7, 2013
                               ___________

Introduced  by M. of A. NOLAN -- read once and referred to the Committee
  on Governmental Employees

AN ACT to amend the general  municipal  law,  in  relation  to  allowing
  public employers to establish reserve funds to defray contributions 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. Paragraphs b and c of subdivision 1 of section 6-r  of  the
general  municipal law, as added by chapter 260 of the laws of 2004, are
amended to read as follows:
  b. "Participating employer" means a participating employer as  defined
in  subdivision twenty of section two of the retirement and social secu-
rity law or in subdivision twenty of section three hundred two  of  such
law,  OR,  FOR  PURPOSES  OF ESTABLISHING RESERVE FUNDS FOR THE NEW YORK
STATE TEACHERS' RETIREMENT  SYSTEM,  SHALL  HAVE  THE  SAME  MEANING  AS
"EMPLOYER"  AS  DEFINED IN SUBDIVISION THREE OF SECTION FIVE HUNDRED ONE
OF THE EDUCATION LAW.
  c. "Retirement contribution" shall mean all  or  any  portion  of  the
amount payable by a municipal corporation to [either] the New York state
and  local  employees' retirement system or the New York state and local
police and fire retirement system pursuant to section seventeen or three
hundred seventeen of the retirement and social security law OR  THE  NEW
YORK STATE TEACHERS' RETIREMENT SYSTEM FOR PUBLIC SCHOOL TEACHERS PURSU-
ANT TO SECTION FIVE HUNDRED TWENTY-ONE OF THE EDUCATION LAW.
  S  2.  This act shall take effect immediately; provided, however, that
the commissioner of education, state comptroller, and the board  of  the
New  York state teachers' retirement system shall agree on a fiscal year
in which employers may begin to establish the reserve funds  allowed  by
this act.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09598-01-3

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