Grants retroactive membership with tier 3 status in the New York teachers' retirement system to Victor Owen

BILL NUMBER:S5394

Title of bill

An act in relation to granting retroactive membership with tier 3 status in the New York state teachers' retirement system to Victor Owen

Purpose

Authorizes Victor Owen to apply for and receive retroactive membership in the New York State Teachers' Retirement System by allowing him to buy back approximately two years of time during a period that he was not in the system.

Summary of provisions

Section 1 states that he became a member of the retirement system on January 3, 1978, and deserves all of the rights, benefits, and privileges that would be available to him during his period of employment from August 29, 1994 until August 20, 1996. It allows him to purchase the period of time from 1994-1996 for which he did no receive credit.

Section 2 states that all remaining past service costs shall be borne by the employers of members of the New York State Teachers' Retirement System.

Section 3 states that the act is effective immediately.

Justification

Victor, who commenced employment by the Ulster County Board of Cooperative Educational Services (BOCES) as a Behavioral Specialist on August 29, 1994, and resigned on August 20, 1996, and who, for reasons not ascribable to his own negligence and despite being a current member of the system, did not receive nearly two years of credit for his time working as a Behavioral Specialist, should be deemed to have been an active member of such retirement system between August 29, 1994, and August 20, 1996, and be allowed to buy back that period of time.

Legislative history

This is a new bill.

Fiscal implications

Fiscal Note is attached.

Effective date

This act shall take effect immediately.