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History
- Print number 3990a
- 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.
Authorizes Walter M. Callahan, a retiree of the New York state and local employees' retirement system to transfer his membership to the New York state teachers' retirement system
In Assembly Committee · Governmental Employees · Sponsor Nancy Calhoun
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3990A
Title of bill
An act to authorize Walter M. Callahan, a retiree receiving benefits from the New York state and local employees' retirement system, to retroactively terminate his retirement and transfer his membership in such retirement to the New York state teachers' retirement system
Purpose
This bill, requested by Mr. Walter M. Callahan, permits such retiree, who has been receiving enhanced retirement benefits pursuant to Chapter 86 of the Laws of 2000, to be entitled to elect to be deemed retroac- tively to have transferred his membership in the NY State and Local Employees' Retirement System to the NYS Teachers' Retirement System pursuant to the Retirement and Social Security Law section 43 as of November 3, 2000.
Summary of provisions
Section 1: Enacts a free standing unconsolidated law that effectuates the provisions stated above in the purposes section of this memo.
Justification
This was requested by Mr. Walter M. Callahan.
Legislative history
S.4735 of 2009/2010
Fiscal implications
The cost of this benefit is equal to the increase in the present value of liabilities, which is estimated to be $307,000. This cost will be partially offset by the pension reserve transferred from the New York State and Local Employees' Retirement System, approximately $151,000, in accordance with this bill.
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.