Bill Text: NY A06848 | 2011-2012 | General Assembly | Introduced
Bill Title: Provides certain members of the NYS Teachers' Retirement System with additional service credit for accumulated unused sick leave.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-01-04 - referred to governmental employees [A06848 Detail]
Download: New_York-2011-A06848-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
6848
2011-2012 Regular Sessions
I N A S S E M B L Y
April 5, 2011
___________
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 service credit in the
New York state teachers' retirement system
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Section 509 of the education law is amended by adding a new
2 subdivision 13 to read as follows:
3 13. IN ADDITION TO ANY OTHER SERVICE CREDIT TO WHICH HE OR SHE IS
4 ENTITLED, A MEMBER, SUBJECT TO THIS ARTICLE OR TO ARTICLE FOURTEEN OR
5 FIFTEEN OF THE RETIREMENT AND SOCIAL SECURITY LAW, WHO RETIRES ON OR
6 AFTER JULY FIRST, TWO THOUSAND ELEVEN AND WHO, PRIOR TO RETIREMENT, WAS
7 SUBJECT TO A PLAN ESTABLISHED BY AN EMPLOYER BY LAW, RULE, REGULATION,
8 WRITTEN ORDER OR WRITTEN POLICY WHICH PROVIDED FOR THE REGULAR EARNING
9 AND ACCUMULATION OF SICK LEAVE SHALL BE GRANTED ONE DAY OF ADDITIONAL
10 SERVICE CREDIT FOR EACH DAY OF ACCUMULATED UNUSED SICK LEAVE WHICH HE OR
11 SHE HAS AT TIME OF RETIREMENT FOR SERVICE, BUT SUCH CREDIT SHALL NOT (A)
12 EXCEED NINETY DAYS, (B) BE CONSIDERED IN MEETING ANY SERVICE OR AGE
13 REQUIREMENTS PRESCRIBED IN THIS ARTICLE, OR (C) BE CONSIDERED IN COMPUT-
14 ING FINAL AVERAGE SALARY.
15 S 2. This act shall take effect immediately.
FISCAL NOTE.--This bill would allow all members of the New York State
Teachers' Retirement System who retire on or after July 1, 2011 to
receive service credit for up to 90 days of unused accumulated sick
leave. Such additional credit is to be used in the calculation of
retirement benefits, but not for meeting 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 for this benefit is estimated to be $99.3
million or .65% of payroll if this bill is enacted.
The source of this estimate is Fiscal Note 2011-19 dated March 9, 2011
prepared by the Actuary of the New York State Teachers' Retirement
System and is intended for use only during the 2011 Legislative Session.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05463-02-1
