What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Print number 696a
- Amend and recommit to civil service and pensions
- Referred to civil service and pensions
- 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 certain members employed by department of taxation and finance to retire without reduction of benefits upon completing 25 or more years of service
In Assembly Committee · Governmental Employees · Sponsor Mark J.F. Schroeder
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the retirement and social security law, in relation to retirement benefits for certain employees
Purpose
Creates a new alternative plan for peace officers end police officers by the State Department of Taxation and Finance. Under this plan, an officer who attains twenty-five years of service will be allowed to retire at 1/2 pay without regard to age.
Summary of provisions
Creates a new Section 89-x of the Retirement end Social Security Law. This section allows an alternative benefit to the existing benefits under Tiers 1-4. It would allow a member with 25 years of service as a peace officer or police officer to retire at any age with 25 years of service with a pension benefit of 50% of final Average salary. At the date of retirement, this benefit would automatically be compared to the benefit under current law for the member's tier, and the member would got whichever benefit is better.
Justification
The Department of Taxation and Finance is responsible for enforcing laws that relate to taxes including taxes on cigarettes and products, alcoholic beverages, gasoline and sales and use taxes. The Department employs public safety professionals who are authorized under the Criminal Procedure Law to exercise the powers of police and peace officers in enforcing these tax laws. Their duties include criminal investigations, serving warrants, and making arrests. These duties expose them to the same risks as other law enforcement officers and they must maintain similar levels of physical fitness to their duties. They should there- fore be granted the same type of plan as that offered to other law enforcement professionals.
Legislative history
2009: S.696 - Referred to Civil Service/A.7120 - Referred to Governmental Employees. 2008: S.6925 - 3rd Reading Calendar/A.9897 - Reported to Ways & Means. 2007: S.2174/ A.4466 - Veto 106
Fiscal implications
If enacted there will be an anticipated increase of approximately $154,000 in the annual contributions of the State of New York for fiscal year ending March 31, 2010. There will also be an immediate past service cost of approximately $677,000 which would be borne by the State of New York. This estimate is based on the assumption that payment will be made on March 1, 2011. If this cost is amortized over a ten year period, the cost for the first year, including interest would be approximately $93,400. These costs are based on 81 known affected officers having a total estimated annual salary for the fiscal year ending March 31, 2009 of approximately $5.5 million.
Effective date
This act shall take effect immediately, provided, however that the amendments to Sections 603 and 604 of the Retirement and Social Security Law made by Sections three and four of this act shall not expire on the same date as such sections expire pursuant to section 615 of such law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.