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Who cares
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Sponsors
1 Co-sponsor
2 Multi-sponsors
History
- Print number 4295a
- Amend and recommit to governmental employees
- Referred to governmental employees
- Referred to governmental employees
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Permits department of law investigators to retire upon completion of 25 years of creditable service, regardless of age
In Senate Committee · Civil Service And Pensions · Sponsor Diane J. Savino
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A4295A
Title of bill
An act to amend the retirement and social security law, in relation to the retirement of members employed as investigators assigned to the department of law
Purpose
To grant Tier I, II, III, & IV investigators assigned to the office of Attorney General an optional 25 year retirement plan.
Summary of provisions
Establishes an optional 25 year retirement plan for any investigator employed by the office of attorney general pursuant to section 1.20, subdivision 34, paragraph (g) of the criminal procedure law or section 1.20, subdivision 34, paragraph (m) of the criminal procedure law.
Justification
Investigators assigned to the office of Attorney General are State law enforcement personnel who share the same risks as other law enforcement officers, yet they have a substantially inferior pension plan. This bill would provide these officers with the option of retiring after 25 years service at one-half pay.
Legislative history
2006 Session: A9804 - new bill - vetoed by Gover- nor (VM 36) 2007 Session: A6311 - vetoed by Governor (VM 130) 2008 Session: A10004 -Referred to rules
Fiscal implications
If this bill is enacted, we anticipate that there will be an increase of approximately $209,000 in the annual contrib- utions of the State of New York for the fiscal year ending March 31, 2011.
However, in addition to the annual contributions discussed above, there will be an immediate past service cost of approximately $1,19 million, which would be borne by the State of New York as a one-time payment. This estimate is based on the assumption that payment will be made on March 1, 2011.
These estimated costs are based on ninety (84) known: affected members having a total estimated salary for the fiscal year ending March 31, 2009 of approximately $7.3 million.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.