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Who cares
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Sponsors
2 Co-sponsors
History
- Committee discharged and committed to rules
- Referred to civil service and pensions
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.
Allows qualifying members of the New York city employees' retirement system employed by NYC OTB to file for retirement with the NYCERS board of trustees
In Assembly Committee · Governmental Employees · Sponsor Sheldon Silver
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act relating to retirement options for certain members of the New York city employees' retirement system
Purpose or general idea of bill
The purpose of this bill is to modify retirement application filing requirements for present employees of the off-track betting corporation who are members of the New York City employees' retirement system.
Summary of specific provisions
This bill would allow an individual who, as of the effective date, is both an employee of the off-track betting corporation established by article VI of the racing, pari-mutuel wagering and breeding law and a member of the New York city employees' retirement system to file a written application for retirement up to the day before the effective date of the retirement.
Justification
The bankruptcy and potential closure of the New York City Off-Track Betting (NYC OTB) corporation has threatened the layoff of hundreds of employees, many of whom are presently eligible for retirement. Some of these employees are members of a retirement tier that requires a 3D-day filing period to apply for retirement benefits. The modification of the application filing requirement is intended to provide relief to affected employees while pending NYC OTB solvency issues are resolved.
Prior legislative history
New bill.
Fiscal implications for state and local governments
None.
Effective date
March 1, 2010.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.