Authorizes Antonia Keesler to change her retirement option

1 Co-sponsor

• Adriano Espaillat

BILL NUMBER:S4076A

Title of bill

An act authorizing Antonia Keesler to change her retirement option

Purpose or general idea of bill

To authorize Antonia Keesler to change her retirement option.

Summary of specific provisions

Antonia Keesler, was employed by the Sullivan county BOCES and retired from the New York State Teachers' Retirement System effective April 23, 2008. For reasons not ascribable to her own negligence, she failed to change her retirement option selection prior to the expiration of thirty days following the date of payability of her retirement allowance, shall be deemed to have retired pursuant to the terms of the Maximum Option.

Effects of present law which this bill would alter

Ms. Keesler presently does not have the opportunity to change her retirement benefit under current law.

Justification

Antonia Keesler was at the time of her retirement and is still currently undergoing treatment for colon cancer. At the time of her retirement, Ms. Keesler was given the impression by the NYS Teachers' Retirement System that she would be receiving about 2/3 of her salary by selecting the Largest Lump Sum Option. She subsequently learned of the error but was three days late in requesting a change to the Maximum Option.

Legislative history

S.5859-A of 2009: Died in Senate Civil Service and Pensions Committee

Fiscal implications

$26,000 payable by the State Teachers Retirement System, its employers and members.

Effective date

This act shall take effect immediately.