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Senate Bill S8142

2017-2018 Legislative Session

Relates to providing an application process for opting out of the pop up retirement option

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee

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2017-S8142 (ACTIVE) - Details

Current Committee:
Senate Civil Service And Pensions
Law Section:
Education Law
Laws Affected:
Add §514-a, Ed L

2017-S8142 (ACTIVE) - Summary

Relates to providing an application process for opting out of the pop-up retirement option; requires a member to show a valid change of circumstances.

2017-S8142 (ACTIVE) - Sponsor Memo

2017-S8142 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8142
 
                             I N  S E N A T E
 
                               April 6, 2018
                                ___________
 
 Introduced  by Sen. PHILLIPS -- 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 providing an  applica-
   tion process for opting out of the pop-up retirement option
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The education law is amended by adding a new section  514-a
 to read as follows:
   § 514-A. APPLICATION TO RESCIND OPTIONAL ELECTION. NOTWITHSTANDING ANY
 OTHER  PROVISION  OF  LAW,  ANY MEMBER WHO ELECTS TO RECEIVE THE "POP-UP
 OPTION" ALLOWANCE DEFINED IN PART 5014.2 OF TITLE 21  OF  THE  NEW  YORK
 CODES,  RULES  AND  REGULATIONS  SHALL  BE  ELIGIBLE TO SUBMIT A WRITTEN
 APPLICATION TO THE BOARD TO RESCIND  SUCH  OPTIONAL  ALLOWANCE  ELECTION
 AFTER  THE  PRESCRIBED THIRTY-DAY WINDOW, UPON SHOWING A VALID CHANGE OF
 CIRCUMSTANCE. A VALID CHANGE OF CIRCUMSTANCE MAY  INCLUDE,  BUT  IS  NOT
 LIMITED  TO, SIGNIFICANT FINANCIAL HARDSHIP, CONTINUING MEDICAL EXPENSES
 OR CHANGE IN MARITAL STATUS. THE APPLICATION SHALL BE  APPROVED  BY  THE
 SOLE DISCRETION OF THE BOARD.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13978-01-7

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