Bill Text: NY A05451 | 2011-2012 | General Assembly | Introduced

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Bill Title: Authorizes the beneficiary of Robert Carballeira to receive an enhanced pension benefit on his behalf.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-02-06 - print number 5451a [A05451 Detail]

Download: New_York-2011-A05451-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5451
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 18, 2011
                                      ___________
       Introduced  by  M. of A. RAIA -- read once and referred to the Committee
         on Governmental Employees
       AN ACT authorizing the beneficiary of Robert Carballeira to  receive  an
         enhanced pension benefit on his behalf
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Notwithstanding section 101 of the  retirement  and  social
    2  security law, the beneficiary of Robert Carballeira, who was a member of
    3  the  New  York state and local employees' retirement system and employed
    4  by the county of Suffolk, now deceased, shall be entitled to  a  benefit
    5  based  on  the total service credit to which he was entitled at the time
    6  of his earlier retirement  on  August  30,  1997  including  all  credit
    7  received  pursuant  to  chapter 41 of the laws of 1997, in addition with
    8  all member service credit earned by him subsequent to his last  restora-
    9  tion to membership on March 1, 2003, if, on or before December 31, 2011,
   10  such beneficiary shall file an application therefor with the state comp-
   11  troller.  Such total service credit to which he was entitled at the time
   12  of his earlier retirement shall be so credited  without  requiring  such
   13  member  to  return  to  the  retirement system with regular interest the
   14  actuarial equivalent of  the  amount  of  the  retirement  allowance  he
   15  received,  and  the  actuarial  equivalent thereof shall not be deducted
   16  from his subsequent retirement allowance.  Such benefit will be recalcu-
   17  lated as of January 15, 2008.  In addition to the  recalculated  benefit
   18  that  the  beneficiary will receive for her lifetime, retroactive to the
   19  pensioner's date of death, the beneficiary will  receive  a  retroactive
   20  payment based on the difference between the recalculated benefit and the
   21  benefit which was paid to Robert Carballeira prior to his death.
   22    S  2.  All  costs  of implementing the provisions of this act shall be
   23  borne by the county of Suffolk.
   24    S 3. This act shall take effect immediately.
         FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06600-02-1
       A. 5451                             2
         This bill would authorize the beneficiary  of  Robert  Carballeira  to
       receive  an enhanced pension benefit. Mr. Carballeira retired August 30,
       1997 under the retirement incentive authorized by chapter 41 of the laws
       of 1997. He restored to membership in 2003 and subsequently  retired  on
       January  15,  2008. This bill would provide an enhanced pension based on
       all service credit earned, including the  retirement  incentive  credit,
       without  requiring  that  the  retirement  allowance  that  was  paid be
       returned to the retirement system.
         If this bill is enacted, there will be an immediate past service  cost
       of  approximately  $284,000  which  will be borne by Suffolk County as a
       one-time payment. This estimate is based on the assumption that  payment
       will be made on February 1, 2012.
         This  estimate,  dated  February  2,  2011,  and intended for use only
       during the 2011  Legislative  Session,  is  Fiscal  Note  No.  2011-109,
       prepared  by  the  Actuary  for  the New York State and Local Employees'
       Retirement System.