What's happening
This bill allows certain State Education Department employees in the Teachers' Retirement System to receive additional retirement service credit for up to 149 days of unused sick leave.
Why it matters
Incentivizes Retention. By allowing certain State Education Department employees to convert unused sick leave into additional retirement service credit, the bill encourages employees to conserve sick leave and potentially remain in service longer to maximize this benefit.
Retirement Benefit Enhancement. These employees could see a meaningful increase in their retirement benefits, as the added service credit could boost their pension calculation—although it cannot be used to meet minimum service or age requirements, nor does it affect the calculation of final average salary.
Targeted Application. The benefit is narrowly tailored—it only applies to employees in the professional, scientific, and technical services unit within the State Education Department who are part of the Teachers’ Retirement System and subject to specific sick leave accrual policies, ensuring the impact is limited to a distinct group.
Minimal Fiscal Impact. According to the fiscal note, the anticipated cost to employers is negligible, suggesting the bill improves benefits for eligible employees without significantly affecting the financial stability of the retirement system or requiring increased employer contributions.
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Who cares
Headline styles
Credit Sick Days for Retirement
Plain English, a few words. Used as the page title.
Sponsors
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History
- Referred to governmental employees
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
9980
IN ASSEMBLY
March 4, 2020
Introduced by M. of A. ABBATE -- read once and referred to the Committee on Governmental Employees
AN ACT to amend the education law, in relation to providing a service credit in the New York state teachers' retirement system
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 509 of the education law is amended by adding a new subdivision 13 to read as follows:
13. a. In addition to any other service credit to which he or she is entitled, a member subject to this article or to article fourteen or fifteen of the retirement and social security law who meets the requirements set forth in paragraph b of this subdivision shall be granted one day of additional service credit for each day of accumulated unused sick leave which he or she has at time of retirement for service, but such credit shall not (1) exceed one hundred forty-nine days; (2) be considered in meeting any service or age requirements prescribed in this chapter; and (3) be considered in computing final average salary.
b. Such service retirement credit shall be granted only to members of the New York state teachers' retirement system in the employ of the state education department in the collective negotiating unit established by article fourteen of the civil service law designated the professional, scientific and technical services unit who, prior to retirement, were subject to a plan established by law, rule, regulation, written order or written policy that provided for the regular earning and accumulation of sick leave.
§ 2. This act shall take effect immediately and shall be deemed to have been in full force and effect on and after June 30, 2020.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would allow certain eligible members of the New York State
Teachers' Retirement System employed in the State Education Department
who retire on or after July 1, 2020 to receive service credit for up to
149 days of unused accumulated sick leave. Such additional credit is to
be used in the calculation of retirement benefits, but not for meeting
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15496-03-0
A. 9980 2
any service or age requirements or in the computation of final average
salary.
The annual cost to the employers of members of the New York State
Teachers' Retirement System is estimated to be negligible if this bill
is enacted.
Member data is from the System's most recent actuarial valuation
files, consisting of data provided by the employers to the Retirement
System. Data distributions and statistics can be found in the System's
Comprehensive Annual Financial Report (CAFR). System assets are as
reported in the System's financial statements, and can also be found in
the CAFR. Actuarial assumptions and methods are provided in the System's
Actuarial Valuation Report.
The source of this estimate is Fiscal Note 2020-4 dated February 25,
2020 prepared by the Actuary of the New York State Teachers' Retirement
System and is intended for use only during the 2020 Legislative Session.
I, Richard A. Young, am the Actuary for the New York State Teachers'
Retirement System. I am a member of the American Academy of Actuaries
and I meet the Qualification Standards of the American Academy of Actu-
aries to render the actuarial opinion contained herein.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.