Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 01, 2018 |
signed chap.100 |
Jun 28, 2018 |
delivered to governor |
Jun 13, 2018 |
returned to assembly passed senate 3rd reading cal.1443 substituted for s8557a |
Jun 13, 2018 |
substituted by a10676 |
Jun 05, 2018 |
advanced to third reading |
Jun 04, 2018 |
2nd report cal. |
May 31, 2018 |
1st report cal.1443 |
May 14, 2018 |
print number 8557a |
May 14, 2018 |
amend and recommit to cities |
May 10, 2018 |
referred to cities |
Senate Bill S8557A
Signed By Governor2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A10676 - Signed by Governor
- 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
Actions
Votes
Bill Amendments
2017-S8557 - Details
- See Assembly Version of this Bill:
- A10676
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Amd §13-638.2, NYC Ad Cd
2017-S8557 - Summary
Relates to the rate of interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, the fire department pension fund and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems.
2017-S8557 - Sponsor Memo
BILL NUMBER: S8557 SPONSOR: GOLDEN TITLE OF BILL: An act to amend the administrative code of the city of New York, in relation to the rate of interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teach- ers' retirement system, the police pension fund, subchapter two, the fire department pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems SUMMARY OF PROVISIONS: This bill would extend for one Fiscal year, until June 30, 2019, the current 7% per annum statutory rate of interest used by the Chief Actu- ary for the New York City Employees' Retirement System, Teachers' Retirement System, Board of Education Retirement System, Police Pension Fund and Fire Department Pension Fund ("City retirement systems") in
2017-S8557 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8557 I N S E N A T E May 10, 2018 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the administrative code of the city of New York, in relation to the rate of interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, subchapter two, the fire department pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary inter- est on the funds of such retirement systems THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 2 of subdivision b of section 13-638.2 of the administrative code of the city of New York, as amended by chapter 71 of the laws of 2017, is amended to read as follows: (2) With respect to each retirement system, such rate of interest shall be as hereinafter set forth in this paragraph: First day and last day of Rate of interest fiscal year or per centum per series of fiscal Retirement annum, compounded years for which System annually rate is effective ________________________________________________________________________ NYCERS 7% July 1, 2011 to June 30, [2018] 2019 NYCTRS 7% July 1, 2011 to June 30, [2018] 2019 PPF 7% July 1, 2011 to June 30, [2018] 2019 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
2017-S8557A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10676
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Amd §13-638.2, NYC Ad Cd
2017-S8557A (ACTIVE) - Summary
Relates to the rate of interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, the fire department pension fund and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems.
2017-S8557A (ACTIVE) - Sponsor Memo
BILL NUMBER: S8557A SPONSOR: GOLDEN TITLE OF BILL: An act to amend the administrative code of the city of New York, in relation to the rate of interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retire- ment system, the police pension fund, subchapter two, the fire depart- ment pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary interest on the funds of such retirement systems SUMMARY OF PROVISIONS: This bill would extend for one Fiscal year, until June 30, 2019, the current 7% per annum statutory rate of interest used by the Chief Actu- ary for the New York City Employees' Retirement System, Teachers'
2017-S8557A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8557--A I N S E N A T E May 10, 2018 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Cities -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the administrative code of the city of New York, in relation to the rate of interest used in the actuarial valuation of liabilities for the purpose of calculating contributions to the New York city employees' retirement system, the New York city teachers' retirement system, the police pension fund, subchapter two, the fire department pension fund, subchapter two and the board of education retirement system of such city by public employers and other obligors required to make employer contributions to such retirement systems, the crediting of special interest and additional interest to members of such retirement systems, and the allowance of supplementary inter- est on the funds of such retirement systems THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 2 of subdivision b of section 13-638.2 of the administrative code of the city of New York, as amended by chapter 71 of the laws of 2017, is amended to read as follows: (2) With respect to each retirement system, such rate of interest shall be as hereinafter set forth in this paragraph: First day and last day of Rate of interest fiscal year or per centum per series of fiscal Retirement annum, compounded years for which System annually rate is effective ________________________________________________________________________ NYCERS 7% July 1, 2011 to June 30, [2018] 2019 NYCTRS 7% July 1, 2011 to June 30, [2018] 2019 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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