Bill Text: NY A07356 | 2009-2010 | General Assembly | Introduced
Bill Title: Authorizes Peter Herrera to transfer certain prior service credit to the New York state and local employees' retirement system.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2010-01-06 - referred to governmental employees [A07356 Detail]
Download: New_York-2009-A07356-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
7356
2009-2010 Regular Sessions
I N A S S E M B L Y
March 31, 2009
___________
Introduced by M. of A. McDONOUGH -- read once and referred to the
Committee on Governmental Employees
AN ACT to authorize Peter Herrera to transfer certain prior service
credit to the New York state and local employees' retirement system
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Notwithstanding any other provision of law to the contrary,
2 Peter Herrera, who is currently employed with the Port Authority of New
3 York and is a member of the New York state and local employees' retire-
4 ment system and who was employed by the Long Island Rail Road, a subsid-
5 iary of the Metropolitan Transportation Authority, from June 5, 1984 to
6 January 23, 1998 and who was a member of such retirement system is here-
7 by authorized to transfer his membership in such retirement system to
8 the New York state and local employees' retirement system, if on or
9 before December 31, 2009 he files an application therefor with the state
10 comptroller. Such transfer shall take effect on the date the applica-
11 tion is received by the comptroller. Upon such transfer, Peter Herrera
12 shall be deemed to have become a member of the New York state and local
13 employees' retirement system on June 5, 1984 and shall cease all enti-
14 tlement to receive retirement benefits from the retirement system of the
15 Long Island Rail Road, a subsidiary of the Metropolitan Transportation
16 Authority.
17 Transfer of the amount of Peter Herrera's pension reserve shall be
18 made by the Long Island Rail Road retirement system to the New York
19 state and local employees' retirement system upon notification from the
20 latter retirement system to the former retirement system that Peter
21 Herrera has met all the requirements of this act.
22 Furthermore and notwithstanding any other provision of law to the
23 contrary, Peter Herrera shall be authorized to receive service credit in
24 the New York state and local employees' retirement system for such
25 employment.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08770-03-9
A. 7356 2
1 S 2. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will allow Peter Herrera, a member of the New York State and
Local Employees' Retirement System, to transfer service credit to the
New York State and Local Employees' Retirement System from the Long
Island Rail Road Retirement System.
If this bill is enacted, we anticipate that there will be an immediate
past service cost of approximately $315,000. This cost will be offset by
any reserves transferred from the Long Island Rail Road Retirement
System to the New York State and Local Employees' Retirement System. Any
remaining costs will be shared by the State of New York and all of the
participating employers in the New York State and Local Employees'
Retirement System.
This estimate, dated March 24, 2009, and intended for use only during
the 2009 Legislative Session, is Fiscal Note No. 2009-190, prepared by
the Actuary for the New York State and Local Employees' Retirement
System.
