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History
- Substituted by A10017A
- Ordered to third reading cal.1495
- 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.
Authorizes persons rendering services to certain development corporations or centers to continue to receive credit in the State and Local Employees' Retirement System
Signed by Governor · Sponsor Addie Jenne
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7751
Title of bill
An act to authorize persons who are members or retirees of the New York State and Local Employees' Retirement System pursuant to administrative agreements between the Jefferson County Industrial Development Agency and certain development corporations or centers to continue to receive credit for service
Purpose
This bill authorizes persons rendering services to certain development corporations in Jefferson County to receive credit in the State and Local Employees Retirement System.
Summary
Section 1 authorizes persons who are rendering, or have rendered services to certain development corporations in Jefferson County to receive retirement credit for al such service rendered prior to August 1, 2012 provided that all required employer and employee contributions are made to the New York State and Local Employees' Retirement
Section 2 states that this act shall take effective immediately.
Justification
Pursuant to a recent ruling from the Comptroller, employees who, in good faith believed they were working for the Jefferson County Industrial Development Authority, and who were contributing to the state pension system - for as much as 13 years in some cases were determined to be employees of local development corporations and therefore n t entitled to retirement credit.
Not only have these individuals have been making contributions to the retirement system in good faith, they have received regular notifications that they were a part of the system, and it is only fair that they should be allowed to keep the pension credits they believed, i good faith they were earning, until the end of July 2012. Had these employees not been led to believe they were members of the state retirement system, they would likely have been contributing members of their local retirement system, an option which they cannot now retroactively take advantage of. Restoring the retirement credits of these employees through July 2012 is the just and fair action to take.
History
New bill.
Fiscal impact
None.
Effective date
This act shall take effective immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.