|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to local government|
|May 16, 2013||referred to local government|
senate Bill S5354
Archive: Last Bill Status -
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S5354 - Details
- See Assembly Version of this Bill:
- Law Section:
- General Municipal Law
- Laws Affected:
- Add §6-t, rpld §6-p subs 10 & 11, Gen Muni L; amd §1950, Ed L
S5354 - Sponsor Memo
BILL NUMBER:S5354 TITLE OF BILL: An act to amend the general municipal law and the education law, in relation to the creation and funding of other post-employment benefit reserve funds; and to repeal certain provisions of the general municipal law relating thereto PURPOSE: This bill authorizes boards of cooperative educational services (BOCES) to establish other-post employment benefit (OPEB) reserve funds. SUMMARY OF PROVISIONS: Section 1: Adds a new section 6-t to the general municipal law for the establishment of other post-employment benefit (OPEB) reserve funds. Section 2: Provides the authority for the transfer of funds into the other post-employment benefit reserve fund. Section 3: Repeals subdivisions 10 and 11 of section 6-p of the general municipal law. Section 4: Amends paragraph b of subdivision 5 of section 1950 of the education law. Section 5: Sets forth an immediate effective date.
S5354 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5354 2013-2014 Regular Sessions I N S E N A T E May 16, 2013 ___________ Introduced by Sen. FLANAGAN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law and the education law, in relation to the creation and funding of other post-employment benefit reserve funds; and to repeal certain provisions of the general munici- pal law relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general municipal law is amended by adding a new section 6-t to read as follows: S 6-T. OTHER POST-EMPLOYMENT BENEFIT RESERVE FUNDS. 1. AS USED IN THIS SECTION, (A) "MUNICIPAL CORPORATION" MEANS A SCHOOL DISTRICT (EXCEPT A SCHOOL DISTRICT IN A CITY WITH A POPULATION OF ONE HUNDRED TWENTY-FIVE THOUSAND OR MORE) OR A BOARD OF COOPERATIVE EDUCATIONAL SERVICES. (B) "OTHER POST-EMPLOYMENT BENEFIT" MEANS ANY BENEFIT OTHER THAN A PENSION BENEFIT THAT A MUNICIPAL CORPORATION IS OBLIGATED BY CONTRACT, LOCAL LAW, OR STATUTE TO PAY TO, OR ON BEHALF OF, AN INDIVIDUAL ON ACCOUNT OF THAT INDIVIDUAL'S PRIOR EMPLOYMENT BY THE MUNICIPAL CORPO- RATION, INCLUDING POST-EMPLOYMENT HEALTHCARE BENEFITS, REGARDLESS OF THE TYPE OF PLAN THAT PROVIDES THEM, BUT EXCLUDING TERMINATION BENEFITS SUCH AS THOSE DESCRIBED IN SECTION SIX-P OF THIS ARTICLE. (C) "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. 2. THE GOVERNING BOARD OF ANY MUNICIPAL CORPORATION WHICH IS ALSO A PARTICIPATING EMPLOYER MAY ESTABLISH BY RESOLUTION A RESERVE FUND FOR THE PURPOSE OF FINANCING OTHER POST-EMPLOYMENT BENEFITS. 3. THERE MAY BE PAID INTO AN OTHER POST-EMPLOYMENT BENEFIT RESERVE FUND: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09633-02-3
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