senate Bill S5354

2013-2014 Legislative Session

Creates other post-employment benefit reserve funds; repealer

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to local government
May 16, 2013 referred to local government

S5354 - Details

See Assembly Version of this Bill:
A6436
Law Section:
General Municipal Law
Laws Affected:
Add §6-t, rpld §6-p subs 10 & 11, Gen Muni L; amd §1950, Ed L

S5354 - Summary

Creates other post-employment benefit reserve funds; defines terms.

S5354 - Sponsor Memo

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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