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History
- 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 Thomas Steier to be reclassified as a Tier II member of the New York city retirement system
In Assembly Committee · Governmental Employees · Sponsor Andrew Hevesi
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7769
Title of bill
An act to allow Thomas Steier to be reclassified as a Tier II member of the New York City Employees' Retirement System
Title of bill
An act to allow Thomas Steier to be reclassified as a Tier II member of the New York City Employees' Retirement System
Purpose
To reclassify Thomas Steier as a member of Tier II of the New York City retirement system.
SUMMARY OF PROVISIONS:Grants Thomas Steier membership in the New York City Employees' Retirement System with Tier II Status.
Justification
Mr. Steier was advised to wait by his employer before entering the New York City retirement system. By following those instructions, Mr. Steier inadvertently allowed the deadline for Tier II registration to pass. Because he was given inaccurate information and was subsequently placed in to Tier III, it is appropriate that Mr. Stei- er be allowed to be reclassified as a Tier II member of the New York City retirement system.
Legislative history
This bill has been previously introduced.
Fiscal implications
The NYC Office of the Actuary estimates that, if enacted, this legislation would result in an increase in $25,000 in retroactive payments and $205,000 in prospective payments.
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.