Provides for certain reporting requirements for public entities; repealer

1 Co-sponsor

• William Colton

BILL NUMBER:A9921

Title of bill

An act to amend the retirement and social security law, in relation to the reporting requirements of public entities; and to repeal section 217 of such law relating thereto

Purpose or general idea of bill

To clarify the term public entity as it relates to increasing transparency and reporting of re-employed retired persons salaries in said entities.

Summary of specific provisions

Section 1. Section 217 of the retire- ment and social security law is repealed and a new section 217 is added.

Section 217 lists reporting requirements public entity salary transpar- ency and .disclosure.

1. Defines how the term public entity shall be used in the section.

2. A public entity shall report all money earned by a retired person in its employ that is in excess of the earnings limitation outlined in section two hundred and twelve of this article to the retirement system administered by the state or any of its political subdivisions from whom such retired person is collecting their retirement allowance.

3. A public entity employing a retired person who is eligible to collect or is already collecting allowance from a retirement system administered by the state shall report such retirement allowance annually to the state comptroller. This shall consist of the re-employed persons name, date of birth, place of employment, and current position of all earn- ings.

Section 2. Effective Date.

Justification

This legislation increases the transparency of any public entity payroll, in relation to the reemployment of a retired person. In raising the transparency requirements, the hope is to deter any potential abuses of government payroll at the taxpayer's expense.

Prior legislative history

New Bill.

Fiscal implications

See bill.

Effective date

This act shall take effect on the thirtieth day after it shall have become a law.