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Who cares
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Sponsors
No co-sponsors yet.
History
- Print number 5936a
- Amend and recommit to civil service and pensions
- Referred to civil service and pensions
- Referred to rules
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.
Grants James DeMarco Tier I status
In Assembly Committee · Governmental Employees · Sponsor Jane Corwin
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 teachers' retirement system to James J. DeMarco
Purpose
To change James J. DeMarco's date of membership as to allow him to receive the benefits becoming a Tier I member.
Summary of provisions
Section 1 deems James J. DeMarco a member of the New York State and Local Employees' Retirement System as of July 17, 1969.
Justification
Through no fault of his own, James J. DeMarco was not made a member of the retirement system when he was a seasonal employee with the New York Power Authority. This bill would allow James J. DeMarco, a retired Tier 2 member of the New York State Teachers' Retirement System, to be reclassified as a Tier I member. Additionally, Mr. DeMarco's pension would be recalculated with retroactive adjustment to payments made since his date of retirement of December 7, 2007.
Legislative history
New bill.
Fiscal implications
The cost of this benefit is equal to the increase in the present value of liabilities, which is estimated to be $306,000.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.