Bill Text: NY A04782 | 2011-2012 | General Assembly | Introduced
Bill Title: Entitles Tier I members with membership dates on or after 4/1/72, all Tier II members of the NYSLERS or the NYSLPFRS and Tier V members of NYSLPFRS to receive credit for up to thirty days of unused accumulated vacation time in the calculation of their final average salary.
Sponsorship: Partisan Bill (Democrat 12)
Status: (Introduced - Dead) 2012-01-04 - referred to governmental employees [A04782 Detail]
Download: New_York-2011-A04782-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
4782
2011-2012 Regular Sessions
I N A S S E M B L Y
February 7, 2011
___________
Introduced by M. of A. McENENY, CANESTRARI, WEISENBERG -- Multi-Spon-
sored by -- M. of A. CAHILL, CLARK, COLTON, CYMBROWITZ, JACOBS,
MAGEE, ORTIZ, PHEFFER, J. RIVERA -- read once and referred to the
Committee on Governmental Employees
AN ACT to amend the retirement and social security law, in relation to
the computation of final average salary
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivisions a and b of section 443 of the retirement and
2 social security law, subdivision a as amended by chapter 379 of the laws
3 of 1986 and subdivision b as amended by chapter 286 of the laws of 2010,
4 are amended to read as follows:
5 a. The salary base used for the computation of benefits upon retire-
6 ment, hereinafter called in this article final average salary, applica-
7 ble to all members of the retirement systems who are subject to the
8 provisions of this article, shall be the average salary earned by such a
9 member during any three consecutive years which provide the highest
10 average salary, exclusive of any form of termination pay (which shall
11 include any compensation in anticipation of retirement), or any lump sum
12 payment for deferred compensation, sick leave, or ANY accumulated vaca-
13 tion credit IN EXCESS OF THIRTY DAYS, or any other payment for time not
14 worked (other than compensation received while on sick leave or author-
15 ized leave of absence); provided, however, if the salary or wages earned
16 during any year included in the period used to determine final average
17 salary exceeds that of the average of the previous two years by more
18 than twenty [percentum] PER CENTUM, the amount in excess of twenty
19 [percentum] PER CENTUM shall be excluded from the computation of final
20 average salary. Where the period used to determine final average salary
21 is the period which immediately precedes the date of retirement, any
22 month or months (not in excess of twelve) which would otherwise be
23 included in computing final average salary but during which the member
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01572-02-1
A. 4782 2
1 was on authorized leave of absence at partial pay or without pay shall
2 be excluded from the computation of final average salary and the month
3 or an equal number of months immediately preceding such period shall be
4 substituted in lieu thereof.
5 b. Notwithstanding the provisions of subdivision a of this section,
6 with respect to the members of the New York state AND LOCAL employees'
7 retirement system[,] AND the New York state and local police and fire
8 retirement system and the New York city teachers' retirement system, the
9 final average salary, shall be equal to one-third of the highest total
10 salary earned during any continuous period of employment for which the
11 member was credited with three years of service credit, exclusive of any
12 form of termination pay (which shall include any compensation in antic-
13 ipation of retirement), any lump sum payment for deferred compensation,
14 sick leave, or ANY accumulated vacation credit IN EXCESS OF THIRTY DAYS,
15 or any other payment for time not worked (other than compensation
16 received while on sick leave or authorized leave of absence); provided,
17 however, if the salary earned during any year of credited service
18 included in the period used to determine final average salary exceeds
19 the average of the salaries of the previous two years of credited
20 service by more than twenty per centum, the amount in excess of twenty
21 per centum shall be excluded from the computation of final average sala-
22 ry.
23 S 2. Subdivision 1 of section 431 of the retirement and social securi-
24 ty law, as added by chapter 503 of the laws of 1971, is amended to read
25 as follows:
26 1. lump sum payments for deferred compensation, sick leave, ANY accu-
27 mulated vacation IN EXCESS OF THIRTY DAYS or other credits for time not
28 worked,
29 S 3. This act shall take effect immediately.
FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
This bill will allow Tier 1 members with membership dates on or after
April 1, 1972, all Tier 2 members of the New York State and Local
Employees' Retirement System (NYSLERS) or the New York State and Local
Police and Fire Retirement System (NYSLPFRS) and Tier 5 members of the
NYSLPFRS to receive credit for up to thirty (30) days of unused accumu-
lated vacation time in the calculation of their final average salary.
Insofar as this bill will affect employers in the NYSLERS, if this
bill is enacted, there will be an estimated increase in the annual
contributions of the State of New York of approximately $10 million and
$14 million to the participating employers in the NYSLERS. Insofar as
this bill would affect the NYSLPFRS, there will also be an estimated
increase in the annual contributions of approximately $9.5 million to
the State of New York and $36 million to the participating employers in
the NYSLPFRS.
This estimate, dated December 28, 2010, and intended for use only
during the 2011 Legislative Session, is Fiscal Note No. 2011-75,
prepared by the Actuary for the New York State and Local Employees'
Retirement System and the New York State and Local Police and Fire
Retirement System.
