Assembly Bill A8295A

Vetoed By Governor
2019-2020 Legislative Session

Relates to retirement benefits calculation for Katherine Sweeney

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Archive: Last Bill Status - Vetoed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Vetoed By Governor
  • Signed By Governor

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Bill Amendments

2019-A8295 - Details

See Senate Version of this Bill:
S6420
Law Section:
Retirement

2019-A8295 - Summary

Relates to the miscalculation of benefits paid to Katherine Sweeney.

2019-A8295 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8295
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 13, 2019
                                ___________
 
 Introduced  by M. of A. SALKA -- read once and referred to the Committee
   on Governmental Employees
 
 AN ACT relating to the miscalculation  of  benefits  paid  to  Katherine
   Sweeney
 
   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 to the contrary,
 Katherine Sweeney, a member of the New York state  teachers'  retirement
 system  from  June  24,  1968  through  June 30, 2004, shall continue to
 receive the revised benefit amount as determined by the New  York  state
 teachers' retirement system on November 1, 2018.
   §  2.  The  New  York  state teachers' retirement system shall pay all
 costs associated with the overpayment to Katherine Sweeney in the amount
 of $49,911.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would allow Katherine Sweeney, a retired member of  the  New
 York  State Teachers' Retirement System (NYSTRS), to continue to receive
 the revised benefit amount as determined by NYSTRS on November 1,  2018.
 Furthermore  NYSTRS  will  pay  the cost associated with the overpayment
 made to Ms. Sweeney in the amount of $49,911.
   The cost of this benefit is equal to the overpayment amount of $49,911
 required to be paid by NYSTRS on Ms. Sweeney's behalf. This cost  is  to
 be borne by the employers of members of the NYSTRS.
   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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

2019-A8295A (ACTIVE) - Details

See Senate Version of this Bill:
S6420
Law Section:
Retirement

2019-A8295A (ACTIVE) - Summary

Relates to the miscalculation of benefits paid to Katherine Sweeney.

2019-A8295A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8295--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 13, 2019
                                ___________
 
 Introduced  by M. of A. SALKA -- read once and referred to the Committee
   on Governmental Employees -- recommitted to the Committee  on  Govern-
   mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
   tee  discharged, bill amended, ordered reprinted as amended and recom-
   mitted to said committee

 AN ACT relating to the miscalculation  of  benefits  paid  to  Katherine
   Sweeney
 
   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 to the contrary,
 Katherine Sweeney, a member of the New York state  teachers'  retirement
 system  from  June  24,  1968  through  June 30, 2004, shall continue to
 receive the revised benefit amount as determined by the New  York  state
 teachers'  retirement  system  that took effect with her benefit payment
 dated August 31, 2019.
   § 2. The New York state teachers'  retirement  system  shall  pay  all
 costs associated with the overpayment to Katherine Sweeney in the amount
 of $64,275.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would allow Katherine Sweeney, a retired member of the New
 York State Teachers' Retirement System (NYSTRS), to continue to  receive
 her revised benefit amount as determined by NYSTRS that took effect with
 her  benefit  payment  dated  August  31, 2019. Furthermore, NYSTRS will
 absorb the $64,275 in overpayments made to Ms. Sweeney since her date of
 retirement.
   The cost of this benefit is equal to the overpayment amount of $64,275
 to be absorbed by NYSTRS on Ms.  Sweeney's behalf. This cost  is  to  be
 borne by the employers of members of the NYSTRS.
   Member  data  is  from  the  System's  most recent actuarial valuation
 files, consisting of data provided by the employers  to  the  Retirement
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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