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S4382Senate2009-2010 Session

Authorizes Holly K. Warner to receive Tier 1 status in the New York state and local employees' retirement system

Sponsor Hugh T. FarleySD-44Affects Finance
Status
In Senate Committee
Civil Service And Pensions
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Civil Service And Pensions

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Sponsors

Primary sponsor
Hugh T. Farley

Senator · Senate District 44

No co-sponsors yet.

History

  1. Print number 4382a
  2. Amend and recommit to civil service and pensions
  3. Referred to civil service and pensions
  4. Referred to civil service and pensions

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S4382A

Title of bill

An act to authorize Holly K. Warner Tier I status in the New York state and local employees' retirement system

Summary of specific provisions

Authorizes Holly K. Warner Tier I status in the New York State and Local Employees' Retirement System.

Justification

Holly K. Warner first became eligible to join a public retirement system when she began working for the State of New York on July 2, 1970. Howev- er, she was not afforded the opportunity to join the system. Ms. Warner left and rejoined State employment permanently in June, 1983. She has since been unable to be Tier-reinstated. This bill would allow Ms. Warner to be deemed to have become a member of the New York State and Local Employees' Retirement system as of July 2, 1970.

Fiscal implications

This bill would grant Tier I status in the New York State Employees' Retirement System to Holly K.. Warner by changing her date of membership to July 2, 1970. All past employee contributions will be refunded.

If this bill is enacted, we anticipate that there will be an increase of approximately $3,900 in the annual contributions of the State of New York for the fiscal year ending March 31, 2011.

In addition to the annual contributions discussed above, there will be an immediate past service cost of approximately $160,000 which would be borne by the State of New York as a one-time payment. This estimate, dated January 19,2010, and intended for use only during the 2010 Legis- lative Session, is Fiscal Note No. 2010-79, prepared by the Actuary for the New York State and Local Employees' Retirement System."

Effective date

This act shall take effect immediately.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.