Assembly Actions -
Senate Actions - UPPERCASE
|Jan 25, 2022||
reported and committed to finance
|Jan 05, 2022||
referred to civil service and pensions
|Jun 10, 2021||
committed to rules
|Mar 24, 2021||
advanced to third reading
|Mar 23, 2021||
2nd report cal.
|Mar 22, 2021||
1st report cal.611
|Jan 14, 2021||
referred to civil service and pensions
Senate Bill S1754
2021-2022 Legislative Session
Archive: Last Bill Status - In Senate Committee Finance Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2021-S1754 (ACTIVE) - Details
2021-S1754 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1754 SPONSOR: BORRELLO TITLE OF BILL: An act to amend the education law, in relation to allowing NYSTRS reti- rees to change their retirement plan beneficiary to a spouse at any time prior to or after retirement PURPOSE: This bill allows all NYSTRS retirees to change their retirement plan beneficiary to a spouse at any time either prior to or after retirement. SUMMARY OF PROVISIONS: Section 1: Amends subdivision 6 of section 539 of the education law, as added by chapter 695 of the laws of 2002. A retiree has no more than thirty days following the date a member retired to designate a new bene- ficiary, provided, however if a member is designating their spouse as a beneficiary. This proposal would allow such a change to be made at any
2021-S1754 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1754 2021-2022 Regular Sessions I N S E N A T E January 14, 2021 ___________ Introduced by Sen. BORRELLO -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT to amend the education law, in relation to allowing NYSTRS reti- rees to change their retirement plan beneficiary to a spouse at any time prior to or after retirement THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 6 of section 539 of the education law, as added by chapter 695 of the laws of 2002, is amended to read as follows: 6. An option selection duly filed by the member with the retirement system shall become effective upon retirement. Notwithstanding the fore- going, a member who has been retired for service or with a deferred retirement allowance may file an option selection or change or with- drawal of an option selection previously filed no later than thirty days following the date on which the member has retired, PROVIDED, HOWEVER, IF A MEMBER IS DESIGNATING THEIR SPOUSE AS A BENEFICIARY, SUCH OPTION SELECTION OR CHANGE MAY BE MADE AT ANY TIME PRIOR TO OR AFTER EFFECTIVE RETIREMENT; a member who has been retired for disability may file an option selection or a change or withdrawal of an option selection previ- ously filed no later than (i) thirty days following the date on which such member's application for disability retirement was approved by the retirement board or (ii) thirty days following the date on which the member was retired for disability, whichever is later. PROVIDED, HOWEV- ER, IF A MEMBER WHO HAS BEEN RETIRED FOR DISABILITY IS DESIGNATING THEIR SPOUSE AS A BENEFICIARY, SUCH OPTION SELECTION OR CHANGE MAY BE MADE AT ANY TIME PRIOR TO OR AFTER THE DATE ON WHICH THE MEMBER WAS RETIRED FOR DISABILITY. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04724-01-1
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