senate Bill S4755

Signed By Governor
2013-2014 Legislative Session

Allows the annual convention of the New York state teachers' retirement system to be held in either the month of October or November

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Archive: Last Bill Status Via A4982 - Signed by Governor


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 23, 2013 signed chap.436
Oct 11, 2013 delivered to governor
May 20, 2013 returned to assembly
passed senate
3rd reading cal.532
substituted for s4755
May 20, 2013 substituted by a4982
May 08, 2013 advanced to third reading
May 07, 2013 2nd report cal.
May 06, 2013 1st report cal.532
Apr 22, 2013 referred to civil service and pensions

Votes

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S4755 - Bill Details

See Assembly Version of this Bill:
A4982
Law Section:
Education Law
Laws Affected:
Amd ยง505, Ed L

S4755 - Bill Texts

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Allows the annual convention of the New York state teachers' retirement system to be held in either the month of October or November.

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BILL NUMBER:S4755

TITLE OF BILL: An act to amend the education law, in relation to
allowing the annual convention of the New York state teachers'
retirement system to be held in either the month of October or
November

Purpose of the Bill:

This bill would allow the Retirement Board of the New York State
Teachers' Retirement System to hold the annual convention of members,
which elects the active teacher members of the Board, in either the
month of October or November.

Summary and Justification:

Under Section 505 of the Education Law, the active teacher members of
the Retirement Board of the New York State Teachers' Retirement System
are elected on a rotating basis at an annual convention of delegates
representing the active members of the System. Under the statute, the
convention needs to be held during the month of November. This bill
would amend subdivision 1 of Section 505 of the Education Law to allow
the Retirement Board to hold the annual convention during either
October or November.

Making this change would afford greater flexibility to the Retirement
Board in scheduling the annual convention on a date convenient to
delegates, as well as the Retirement Board and System staff. Such
flexibility would also mitigate difficulties associated with
scheduling the convention around the numerous holidays in November.
Finally, a convention scheduled in October may afford better weather
for delegates who are traveling to the convention from all parts of
New York.

Effective Date of the Bill:

This bill would take effect immediately.

Other Agencies to Whom the Bill May Be of Interest:

Division of the Budget, State Education Department and the State
University of New York.

Budgetary Implications of the Bill: The Actuary of the New York State
Teachers' Retirement System has estimated that there would be no
annual cost to the employers of members of the New York State
Teachers' Retirement System if this bill is enacted.

NOTE: This bill was prepared under the direction of the New York State
Teachers' Retirement Board and was introduced at its request.

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

                                  4755

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             April 22, 2013
                               ___________

Introduced by Sen. GOLDEN -- (at request of the New York State Teachers'
  Retirement System) -- read twice and ordered printed, and when printed
  to be committed to the Committee on Civil Service and Pensions

AN  ACT  to  amend the education law, in relation to allowing the annual
  convention of the New York state teachers'  retirement  system  to  be
  held in either the month of October or November

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

  Section 1.  Subdivision 1 of section 505 of the    education  law,  as
amended  by  chapter  623  of  the  laws  of 1997, is amended to read as
follows:
  1.  An annual convention of the members of the retirement system shall
be held within the state of New York during  the  month  of  OCTOBER  OR
November,  at an hour and place set by the retirement board on or before
May first of each year, for the  purpose  of  electing  members  of  the
retirement board.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  would  amend subdivision 1 of section 505 of the Education
Law to permit the annual convention of  the  New  York  State  Teachers'
Retirement System (NYSTRS) to be held either during the month of October
or November. Currently, the annual convention of the NYSTRS must be held
during the month of November.
  It  is estimated that there will be no annual cost to the employers of
members of the New York State Teachers' Retirement System if  this  bill
is enacted.
  The  source of this estimate is Fiscal Note 2013-3 dated September 19,
2012 prepared by the Actuary of the New York State Teachers'  Retirement
System and is intended for use only during the 2013 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08979-01-3

S. 4755                             2

and  I meet the Qualification Standards of the American Academy of Actu-
aries to render the actuarial opinion contained herein.
  NOTE: This bill was prepared under the direction of the New York State
Teachers' Retirement Board and was introduced at its request.

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