What's happening
This bill prevents the dissolution of the St. Clare's Hospital employee pension fund until a state investigation or audit is completed.
Why it matters
Protects Pension Holders. By pausing dissolution, the bill ensures that former St. Clare’s Hospital employees’ pensions are not disbanded or liquidated before a full review, potentially safeguarding benefits for current and future retirees.
Prioritizes Accountability. Requiring an investigation or audit before dissolution means any mismanagement, fraud, or errors in pension fund handling must be identified and potentially addressed, rather than swept under the rug.
Builds Public Trust. The involvement of major oversight bodies (Department of Health, Attorney General, Comptroller) signals a commitment to transparency and thoroughness, which could reassure the public and affected workers that their interests are being taken seriously.
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Who cares
Former St. Clare’s Hospital employees with pension benefits
The bill would block dissolution of their pension fund until 60 days after an investigation or audit into possible improper handling or management of its funds concludes.
New York Department of State
The bill would bar the agency from issuing a dissolution certificate or filing a court judgment or final order dissolving the pension fund until that waiting period ends.
State Department of Health, Attorney General and Comptroller
An investigation or audit by any of these offices into the pension fund’s handling and management would be a prerequisite to dissolution.
Headline styles
Protect St. Clare's Pensions
Plain English, a few words. Used as the page title.
Sponsors
Assembly Member · Assembly District 111
No co-sponsors yet.
History
- Referred to governmental operations
- Referred to governmental operations
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.
Pause St. Clare’s Pension Dissolution
In Senate Committee · Corporations, Authorities And Commissions · Sponsor James Tedisco
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1114
2025-2026 Regular Sessions
IN ASSEMBLY
January 9, 2025
Introduced by M. of A. SANTABARBARA -- read once and referred to the Committee on Governmental Operations
AN ACT prohibiting the New York Department of State from issuing a certificate of dissolution and filing a judgment or final order of dissolution for the pension fund for employees of the former St. Clare's Hospital in the city of Schenectady, county of Schenectady, until an investigation and/or audit by the New York State Department of Health, the New York State Attorney General or the New York State Comptroller has been conducted to ascertain whether there was any impropriety in the handling and management of funds in such pension plan
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Notwithstanding the provisions of sections 1003 and 1109 of the not-for-profit corporation law or any other provisions of article 10 or 11 of the not-for-profit corporation law, no petition for a certificate of dissolution for the pension fund for employees of the former St. Clare's Hospital in the city of Schenectady, county of Schenectady, shall be issued by the New York Department of State and no judgment or final order of dissolution by the Supreme Court shall be filed by the New York Department of State unless and until a period of sixty days has elapsed following the conclusion of an investigation and/or audit by the New York State Department of Health, the New York State Attorney General or the New York State Comptroller has been conducted to ascertain whether there was impropriety in the handling and management of funds in such pension plan.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01485-01-5
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.