NY State Assembly Bill 2017-A8044A

Assembly Bill A8044A

2017-2018 Legislative Session

Authorizes Alan Gregory to apply for past service credit in the New York state teachers' retirement system

download bill text pdf

Archive: Last Bill Status - In Assembly Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 15, 2018	held for consideration in governmental employees
May 07, 2018	print number 8044a
May 07, 2018	amend and recommit to governmental employees
Jan 03, 2018	referred to governmental employees
May 25, 2017	referred to governmental employees

Bill Amendments

Original

A (Active)

2017-A8044 - Details

See Senate Version of this Bill:: S6441
Current Committee:: Assembly Governmental Employees
Law Section:: Retirement

2017-A8044 - Summary

Authorizes Alan Gregory to apply for past service credit in the New York state teachers' retirement system.

2017-A8044 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8044
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 25, 2017
                                ___________
 
 Introduced  by  M.  of  A.  PALMESANO  --  read once and referred to the
   Committee on Governmental Employees
 
 AN ACT to authorize Alan Gregory to apply for past service credit in 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.  Notwithstanding any other provision of law, Alan Gregory,
 who retired on January 22, 2014 from  employment  by  the  Watkins  Glen
 school  district and receives benefits from the New York state teachers'
 retirement system, and who commenced employment with the New York  state
 office of fire prevention and control as a part-time New York state fire
 instructor  on  June  27, 2000, a participating employer in the New York
 state and local employees' retirement system, and who, for  reasons  not
 ascribable  to  his  own  negligence, did not become a member of the New
 York state and local employees' retirement system for  such  employment,
 shall  be  allowed  to  include his wages earned with the New York state
 office of fire prevention and control in his final average salary calcu-
 lation if, on or before the thirty-first of December next succeeding the
 effective date of this act, he shall file  a  written  request  therefor
 with the head of the New York state teachers' retirement system.
   § 2. Any past service costs incurred in implementing the provisions of
 this  act,  shall  be  borne by the employers of members of the New York
 state teachers' retirement system.
   § 3. This act  shall  take  effect  immediately  and  shall  apply  to
 payments made on or after the effective date of this act.
   FISCAL  NOTE.--This  bill  would  allow Alan Gregory, a retired Tier 3
 member of the New York State Teachers' Retirement System, to include his
 wages earned from his part-time  employment  with  the  New  York  State
 Office of Fire Prevention and Control in his final average salary calcu-
 lation.  This bill would only apply to payments due to Mr. Gregory on or
 after the effective date of this act. Mr. Gregory must  file  a  written
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD09966-03-7

 A. 8044                             2
 
 request  with the head of the New York State Teachers' Retirement System
 on or before the thirty-first of December next succeeding the  effective
 date of this act.
   The cost of this benefit is equal to the increase in the present value
 of  liabilities,  which  is  estimated to be $85,000. This cost is to be
 borne by the employers of  members  of  the  New  York  State  Teachers'
 Retirement System.
   Employee  data  is  from  the System's most recent actuarial valuation
 flies, consisting of data provided by the employers  to  the  Retirement
 System.  Data  distributions and statistics can be found in the System's
 Comprehensive Annual Financial  Report  (CAFR).  System  assets  are  as
 reported  in the System's financial statements, and can also be found in
 the CAFR. Actuarial assumptions and methods are provided in the System's
 Actuarial Valuation Report.
   The source of this estimate is Fiscal Note 2017-26 dated May 17,  2017
 prepared  by  the  Actuary  of  the  New York State Teachers' Retirement
 System and is intended for use only during the 2017 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.

2017-A8044A (ACTIVE) - Details

See Senate Version of this Bill:: S6441
Current Committee:: Assembly Governmental Employees
Law Section:: Retirement

2017-A8044A (ACTIVE) - Summary

Authorizes Alan Gregory to apply for past service credit in the New York state teachers' retirement system.

2017-A8044A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8044--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 25, 2017
                                ___________
 
 Introduced  by  M.  of  A.  PALMESANO  --  read once and referred to the
   Committee on Governmental Employees -- recommitted to the Committee on
   Governmental Employees in accordance with Assembly Rule 3, sec.  2  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee

 AN ACT to authorize Alan Gregory to apply for past service credit in 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.  Notwithstanding any other provision of law, Alan Gregory,
 who retired on January 22, 2014 from  employment  by  the  Watkins  Glen
 school  district and receives benefits from the New York state teachers'
 retirement system, and who commenced employment with the New York  state
 office of fire prevention and control as a part-time New York state fire
 instructor  on  June  27, 2000, a participating employer in the New York
 state and local employees' retirement system, and who, for  reasons  not
 ascribable  to  his  own  negligence, did not become a member of the New
 York state and local employees' retirement system for  such  employment,
 shall  be  allowed  to  include his wages earned with the New York state
 office of fire prevention and control in his final average salary calcu-
 lation if, on or before the thirty-first of December next succeeding the
 effective date of this act, he shall file  a  written  request  therefor
 with the head of the New York state teachers' retirement system.
   § 2. Any past service costs incurred in implementing the provisions of
 this  act,  shall  be  borne by the employers of members of the New York
 state teachers' retirement system.
   § 3. This act  shall  take  effect  immediately  and  shall  apply  to
 payments made on or after the effective date of this act.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would allow Alan Gregory, a retired Tier 3 member of the New
 York State Teachers' Retirement System, to include his wages earned from
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD09966-04-8

 A. 8044--A                          2
 
 his  part-time  employment  with  the  New  York  State  Office  of Fire
 Prevention and Control in his final  average  salary  calculation.  This
 bill  would  only  apply  to payments due to Mr. Gregory on or after the
 effective date of this act. Mr. Gregory must file a written request with
 the  head of the New York State Teachers' Retirement System on or before
 the thirty-first of December next succeeding the effective date of  this
 act.
   The cost of this benefit is equal to the increase in the present value
 of  liabilities,  which  is  estimated to be $86,000. This cost is to be
 borne by the employers of  members  of  the  New  York  State  Teachers'
 Retirement System.
   Member  data  is  from  the  System's  most recent actuarial valuation
 files, consisting of data provided by the employers  to  the  Retirement
 System.   Data distributions and statistics can be found in the system's
 Comprehensive Annual Financial  Report  (CAFR).  System  assets  are  as
 reported  in the System's financial statements, and can also be found in
 the CAFR. Actuarial assumptions and methods are provided in the System's
 Actuarial Valuation Report.
   The source of this estimate is Fiscal Note 2018-21 dated May  3,  2018
 prepared  by  the  Actuary  of  the  New York State Teachers' Retirement
 System and is intended for use only during the 2018 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.

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