Assembly Bill A8672

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8672
 
                           I N  A S S E M B L Y
 
                             January 10, 2022
                                ___________
 
 Introduced by M. of A. CAHILL -- read once and referred to the Committee
   on Governmental Employees
 
 AN  ACT  to amend the retirement and social security law, in relation to
   employment of certain retired members of the New York state  teachers'
   retirement  system;  and  providing  for the repeal of such provisions
   upon expiration thereof

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision 1 of section 211 of the retirement and social
 security law, as amended by chapter 640 of the laws of 2008, is  amended
 to read as follows:
   1.  Notwithstanding  the  provisions  of sections one hundred one, two
 hundred twelve and four hundred one of  this  chapter  or  section  five
 hundred  three  of the education law, or the provisions of any local law
 or charter, a retired person may be employed and earn compensation in  a
 position  or  positions in the public service, without any effect on his
 or her status as retired and without suspension or diminution of his  or
 her retirement allowance subject to one of the following: (a) His or her
 total  compensation  in such position or positions in any calendar year,
 including compensation earned under other provisions  of  this  article,
 shall  not  exceed the multiple of five hundred dollars next higher than
 the difference between (1) the sum  of  his  or  her  annual  retirement
 allowance  computed  without  optional  modification plus annual supple-
 mental retirement payments, if any, and (2) the salary on which  his  or
 her  retirement allowance is based or his or her final salary, whichever
 is greater; or (b) The position in which he or she is employed is not  a
 position  in  the  service  of  a former employer; OR (C) HE OR SHE IS A
 MEMBER OF THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM UNDER  THE  AGE
 OF  SIXTY-FIVE  AND IS SUBSTITUTE TEACHING IN A SCHOOL DISTRICT THAT HAS
 DETERMINED THAT THERE ARE NO REASONABLY  AVAILABLE  NON-RETIRED  PERSONS
 QUALIFIED TO FILL VACANT SUBSTITUTE TEACHER POSITIONS.
   § 2. Subdivision 1 of section 212 of the retirement and social securi-
 ty  law,  as  amended  by chapter 640 of the laws of 2008, is amended to
 read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD13467-06-1
 A. 8672                             2
 
   1. Notwithstanding the provisions of  section  one  hundred  one,  two
 hundred  eleven  or  four hundred one of this chapter or of section five
 hundred three of the education law, or the provisions of any  local  law
 or  charter,  any  retired  person  may continue as retired and, without
 loss,  suspension or diminution of his or her retirement allowance, earn
 in a position or positions in public service in  any  calendar  year  an
 amount  not  exceeding  the amount set forth in the table in subdivision
 two of this section provided such retired  person  employed  under  this
 section duly executes and files with the retirement system from which he
 or  she  is  receiving a retirement allowance a statement that he OR SHE
 elects to have the provisions of this section apply to  him  or  her.  A
 statement of election executed and filed pursuant to this section may be
 withdrawn  by  a  retired  person  at  any time by a statement similarly
 executed and filed. However, there shall be no earning limitations under
 the provisions of this section: (A) on or after  the  calendar  year  in
 which  any retired person attains age sixty-five; AND (B) FOR MEMBERS OF
 THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM UNDER THE AGE  OF  SIXTY-
 FIVE  WHO  ARE  SUBSTITUTE TEACHING IN A SCHOOL DISTRICT THAT HAS DETER-
 MINED THAT THERE ARE NO REASONABLY AVAILABLE NON-RETIRED PERSONS  QUALI-
 FIED  TO FILL VACANT SUBSTITUTE TEACHER POSITIONS.  The retirement board
 of the New York state teachers' retirement system is authorized to adopt
 rules and regulations which would  allow  retired  persons  receiving  a
 retirement  allowance  from such system to make such statements of earn-
 ings from a position or positions in public service as such board  shall
 determine necessary to enforce the provisions of this section in lieu of
 the foregoing statement of election.
   §  3.  This  act shall take effect immediately and shall expire and be
 deemed repealed two years after such effective date.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would amend Section 211 and Section 212  of  the  Retirement
 and  Social  Security  Law  to waive the earnings limitation for retired
 members of the New York State Teachers' Retirement System who are  under
 the  age  of sixty-five and are substitute teaching in a school district
 that has  determined  there  are  no  reasonably  available  non-retired
 persons  qualified to fill vacant substitute teacher positions. This act
 shall be effective for the calendar year containing the date  of  enact-
 ment,  and  the  following year, and shall be deemed repealed after that
 time.
   It is estimated that there will be no additional annual  cost  to  the
 employers  of  members of the New York State Teachers' Retirement System
 if this bill is enacted.
   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
 Annual  Report.  System assets are as reported in the System's financial
 statements, and can also be found in the System's Annual Report.   Actu-
 arial  assumptions  and  methods  are provided in the System's Actuarial
 Valuation Report.
   The source of this estimate is Fiscal Note 2022-4  dated  December  9,
 2021  prepared by the Actuary of the New York State Teachers' Retirement
 System and is intended for use only during the 2022 Legislative Session.
 I, Richard A. Young, am the Chief Actuary for the New York State  Teach-
 ers' Retirement System. I am a member of the American Academy of Actuar-
 ies  and  I  meet the Qualification Standards of the American Academy of
 Actuaries to render the actuarial opinion contained herein.