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Sponsors
No co-sponsors yet.
History
- Substituted by A10369A
- Ordered to third reading cal.1867
- Committee discharged and committed to rules
- Print number 7174b
- Amend and recommit to civil service and pensions
- Print number 7174a
- Amend and recommit 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.
Relates to persons joining a public retirement system on or after July 1, 2009 and before January 10, 2010
Signed by Governor · Sponsor Peter Abbate
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend chapter 504 of the laws of 2009 amending the retirement and social security law and other laws relating to establishing police and fire retirement provisions, in relation to persons joining a public retirement system on or after July 1, 2009 and before January 10, 2010
Purpose
After the veto of the New York State Police & Fire Retirement system Tier II, there was a period from July 1st, 2009 through January 10th, 2010 that placed newly hired police officers and firefighters in the Tier III system. Once the enactment of Tier V took effect, it allowed these members the ability to opt in to Tier V. This option expired in 2010. There are now situations where members are being hired as police officers and fire fighters, who had previous credit in the retirement system and have been placed in the tier that coincides with their original starting date in the pension system. The members who started with the retirement system during the above mentioned period can only be placed back in Tier III, since the option to go into Tier V has expired. If this bill is enacted, the member will have the option to be placed into the Tier V system; the same option the members originally had in 2010.
Summary of provisions
This bill would amend the Retirement and Social Security Law to allow certain members the ability to establish Tier V benefits.
Justification
Members who are hired as public employees and placed into the retirement system have the right to obtain the benefits and privileges of the original date of entry into the system. In some instances, when a member moves from one public employment career to another, it changes the pension tier that they were originally placed in. The Constitution, which protects any diminishment of pension rights, allows the member to use his or her original starting date. The members that use the original starting dates of June 30th, 2009 through January 10th 2010 can only be placed in Tier III because during that period a new pension tier to replace Tier II had yet to be developed. Once Tier V came into existence, the members at that time were allowed to opt in to Tier V. This bill would create the same option. Furthermore, placing these members into Tier V rather than Tier III would be a cost savings to both the State and participating municipalities because the contribution rate for the Tier III plan is greater than that of Tier V.
Legislative history
The option this bill allows was available in 2010.
Fiscal implications
See The Bill.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.