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- Referred to civil service and pensions
- Referred to civil service and pensions
Companion bill
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Grants retroactive Tier 1 status to Paul J. Fioretti
In Assembly Committee · Governmental Employees · Sponsor Marc Butler
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act granting retroactive membership with tier I status in the New York state and local employees' retirement system to Paul J. Fioretti
Purpose
This legislation would grant Paul 1. Fioretti Tier I status in the New York State and Local Employees' Retirement System by changing his date of membership to May 16, 1973
Justification
From May 16, 1973 until September 1, 1973, Paul Fioretti was employed by the City of Gloversville Water Works Department. Through no fault of his own, Mr. Fioretti was not offered membership in the New York State and Local Employees' Retirement System. This bill would rectify the situation by recognizing Mr. Fioretti's previous service and providing him with the same retirement benefits as other individuals who were employed during the same time period.
Legislative history
New legislation.
Fiscal implications
This bill will deem Paul J. Fioretti, an employee of the New York State Department of Transportation and a former employee of the City of Gloversville, to have become a member of the New York State and Local Employees' Retirement System on May 16, 1973, thereby making him a Tier 1 member.
If this bill is enacted, we anticipate that there will be an increase of approximately $1,100 in the annual contributions of the State of New York for the fiscal year ending March 31,2010.
In addition to the annual contributions discussed above, there will be an immediate past service cost of approximately $57,600 which will be borne by the city of Gloversville, as a one-time payment. This cost assumes a payment date of February 1, 2010.
This estimate, dated April 22, 2009 and intended for use only during the 2009 Legislative Session, is Fiscal Note No. 2009-223, prepared by the Actuary for the New York State and Local Employees' Retirement System.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.