Assembly Bill A9466

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

                                  9466

                          I N  A S S E M B L Y

                               May 1, 2014
                               ___________

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

AN ACT to amend the education law, in relation  to  the  appointment  of
  members  to  the  New  York state teachers' retirement system board of
  directors

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

  Section  1.  The  opening paragraph of subdivision 2 of section 504 of
the education law, as amended by chapter 873 of the  laws  of  1984,  is
amended and a new paragraph g is added to read as follows:
  The retirement board shall consist of [ten] ELEVEN members as follows.
  G.  ONE  MEMBER,  WHO MUST BE AN ACTIVE SCHOOL BUILDING ADMINISTRATOR,
APPOINTED BY THE COMMISSIONER, TO SERVE A TERM OF THREE YEARS.
  S 2. This act shall take effect immediately; provided,  however,  that
the  appointment of an active school building administrator, made pursu-
ant to the provisions of this act, shall occur upon the first expiration
of the term of a member appointed pursuant to paragraph e of subdivision
2 of section 504 of the education law.
  FISCAL NOTE.--Pursuant to Legislative Law,  Section  50:    This  bill
would  amend  subdivision  2  of  Section  504  of  the Education Law to
increase the number of members on the Retirement Board of the  New  York
State  Teachers'  Retirement System (NYSTRS) from ten to eleven with the
addition of an active school building administrator (i.e. principal)  to
the  Board.  This Board member would be appointed by the Commissioner of
Education to serve a term of three years. The appointment of  an  active
school  building  administrator shall occur upon the first expiration of
the three year term of one of the three members on the Retirement  Board
elected from among the members of NYSTRS.
  The  annual  cost  to  the  employers of members of the New York State
Teachers' Retirement System is estimated to be negligible if  this  bill
is enacted. There would be minor administrative costs associated with an
additional  member  of  the  Retirement  Board such as reimbursement for
travel, etc.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14701-01-4
              

A. 9466                             2

  The source of this estimate is Fiscal Note 2014-6  dated  January  15,
2014  prepared by the Actuary of the New York State Teachers' Retirement
System and is intended for use only during the 2014 Legislative Session.
I, Richard A. Young, am the Actuary for the  New  York  State  Teachers'
Retirement  System.  I  am a member of the American Academy of Actuaries
and I meet the Qualification Standards of the American Academy of  Actu-
aries to render the actuarial opinion contained herein.