NY State Senate Bill 2017-S6441A

Senate Bill S6441A

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 Senate Committee Civil Service And Pensions 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 08, 2018	print number 6441a
May 08, 2018	amend and recommit to civil service and pensions
Jan 03, 2018	referred to civil service and pensions
May 19, 2017	referred to civil service and pensions

Bill Amendments

Original

A (Active)

2017-S6441 - Details

See Assembly Version of this Bill:: A8044
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement

2017-S6441 - Summary

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

2017-S6441 - Sponsor Memo

2017-S6441 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6441
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 19, 2017
                                ___________
 
 Introduced  by  Sen.  O'MARA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 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

 S. 6441                             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-S6441A (ACTIVE) - Details

See Assembly Version of this Bill:: A8044
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement

2017-S6441A (ACTIVE) - Summary

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

2017-S6441A (ACTIVE) - Sponsor Memo

2017-S6441A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6441--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 19, 2017
                                ___________
 
 Introduced  by  Sen.  O'MARA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
   -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
   accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 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:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09966-05-8

 S. 6441--A                          2
 
   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 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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