senate Bill S5895

2019-2020 Legislative Session

Increases the number of years of service that a participant in a defined contribution plan or defined benefit plan service award program may receive a contribution

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Sponsored By

Current Bill Status - Passed Senate


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

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Actions

view actions (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 19, 2019 referred to local governments
delivered to assembly
passed senate
Jun 03, 2019 advanced to third reading
May 30, 2019 2nd report cal.
May 29, 2019 1st report cal.946
May 16, 2019 referred to local government

S5895 (ACTIVE) - Details

See Assembly Version of this Bill:
A7276
Law Section:
General Municipal Law
Laws Affected:
Amd §§218 & 219, Gen Muni L

S5895 (ACTIVE) - Summary

Increases the number of years of service that a participant in a defined contribution plan service award program or defined benefit plan service award program may receive a contribution from 40 to 50 years.

S5895 (ACTIVE) - Sponsor Memo

S5895 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5895

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              May 16, 2019
                               ___________

Introduced  by Sen. GAUGHRAN -- 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, in relation to increasing the
  number of years of service that a participant in  a  defined  contrib-
  ution  plan  service  award  program or a defined benefit plan service
  award program may receive a contribution

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision  (b)  of section 218 of the general municipal
law, as amended by chapter 452 of the laws of 2004, is amended  to  read
as follows:
  (b) The sponsor of a defined contribution plan shall contribute to the
plan a fixed amount of money, as determined by the sponsor, on behalf of
each participant who is credited with a year of service. The minimum and
maximum  contribution  requirements  for  a defined contribution service
award program shall be as follows. The minimum contribution shall be one
hundred twenty dollars per year of  service.  The  maximum  contribution
shall  be  seven hundred dollars per year of service. The maximum number
of years of service for which a participant may receive  a  contribution
shall  be [forty] FIFTY years. The sponsor shall appropriate annually an
amount sufficient to pay the contributions.
  § 2. Subdivision (b) of section 219 of the general municipal  law,  as
amended  by  chapter  452  of  the  laws  of 2004, is amended to read as
follows:
  (b) The minimum and maximum  retirement  benefit  requirements  for  a
service award program that is a defined benefit plan shall be defined as
follows.  Each participating active volunteer firefighter shall be enti-
tled to a minimum service award benefit of five dollars  per  month  for
each  year  of  firefighting  service  completed  after  satisfying  the
program's  eligibility  requirement  and  after  establishment  of   the
program.  The  maximum  benefit amount payable to a participating active

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

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