Bill Text: NY S02133 | 2011-2012 | General Assembly | Introduced

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Bill Title: Allows any discontinued member of the NYC Police Pension Fund to be a pension fund beneficiary for purposes of eligibility to receive supplemental benefits from the police officers supplements fund for any time period for which the discontinued member received payments of a deferred retirement allowance under the pension fund's original plan or improved benefits plan; specifies that the date of retirement of the discontinued member for determining benefit eligibility will be deemed to be the first day of the period for which the discontinued member first began receiving such deferred retirement allowance payments.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2011-02-14 - RECOMMIT, ENACTING CLAUSE STRICKEN [S02133 Detail]

Download: New_York-2011-S02133-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2133
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                   January 18, 2011
                                      ___________
       Introduced  by  Sen.  KRUGER -- read twice and ordered printed, and when
         printed to be committed to the Committee on Cities
       AN ACT to amend the administrative code of the  city  of  New  York,  in
         relation  to  the  benefits  payable  by the police officer's variable
         supplements fund provided for in such code
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Subdivision 5 of section 13-268 of the administrative code
    2  of the city of New York, as amended by chapter 247 of the laws of  1988,
    3  is amended to read as follows:
    4    5. "Pension fund beneficiary". [Any] EXCEPT AS PROVIDED IN SUBDIVISION
    5  F  OF  SECTION  13-271  OF  THIS  SUBCHAPTER,  ANY person who receives a
    6  retirement allowance by reason of having retired, on  or  after  October
    7  first, nineteen hundred sixty-eight, for service (with credit for twenty
    8  or  more  years  of  service  creditable toward the minimum period) as a
    9  member of pension fund, subchapter one or pension fund,  subchapter  two
   10  and as a police officer.
   11    S 2. Paragraph 2 of subdivision e of section 13-270 of the administra-
   12  tive  code  of the city of New York, as added by chapter 247 of the laws
   13  of 1988, is amended to read as follows:
   14    (2) The actuary shall base such annual valuation of  liabilities  only
   15  (A)  upon  the  persons who, as of each such June thirtieth, are pension
   16  fund beneficiaries OR PERSONS ELIGIBLE TO RECEIVE SUPPLEMENTAL  BENEFITS
   17  PURSUANT  TO  SUBDIVISION F OF SECTION 13-271 OF THIS SUBCHAPTER and (B)
   18  upon the persons who, being police officers in service as of  such  June
   19  thirtieth,  may  be  actuarially expected to retire thereafter as police
   20  officers for service with twenty or more  years  of  service  creditable
   21  toward the minimum period.
   22    S 3. Section 13-271 of the administrative code of the city of New York
   23  is amended by adding a new subdivision f to read as follows:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06509-01-1
       S. 2133                             2
    1    F.  NOTWITHSTANDING  ANY  INCONSISTENT PROVISION OF THIS SUBCHAPTER OR
    2  ANY BENEFIT PLAN OR PAYMENT RESOLUTION THAT WAS IN EFFECT PRIOR TO  JULY
    3  FIRST, NINETEEN HUNDRED EIGHTY-EIGHT, ANY DISCONTINUED MEMBER AS DEFINED
    4  IN SUBDIVISION TWENTY-TWO OF SECTION 13-214 OF THIS CHAPTER, WHO DISCON-
    5  TINUED  SERVICE  AS  A  POLICE  OFFICER ON OR AFTER JULY FIRST, NINETEEN
    6  HUNDRED SIXTY-NINE, BUT  PRIOR  TO  JULY  NINETEENTH,  NINETEEN  HUNDRED
    7  EIGHTY-NINE  SHALL  BE  DEEMED  TO  BE  A  PENSION  FUND BENEFICIARY FOR
    8  PURPOSES OF ELIGIBILITY TO  RECEIVE  SUPPLEMENTAL  BENEFITS  UNDER  THIS
    9  SECTION  FOR  ANY  PERIOD  OF  TIME  FOR  WHICH SUCH DISCONTINUED MEMBER
   10  RECEIVES PAYMENTS OF A DEFERRED RETIREMENT ALLOWANCE PURSUANT TO SECTION
   11  13-256 OF THIS CHAPTER, AND THE DATE OF RETIREMENT OF SUCH  DISCONTINUED
   12  MEMBER,  FOR PURPOSES OF APPLYING THE REQUIREMENTS OF THIS SECTION WHICH
   13  DETERMINE THE ELIGIBILITY OF  A  PENSION  FUND  BENEFICIARY  TO  RECEIVE
   14  SUPPLEMENTAL  BENEFITS  UNDER  THIS  SECTION,  SHALL BE DEEMED TO BE THE
   15  FIRST DAY OF THE PERIOD FOR WHICH SUCH DISCONTINUED MEMBER  FIRST  BEGAN
   16  RECEIVING  PAYMENTS  OF  A  DEFERRED  RETIREMENT  ALLOWANCE  PURSUANT TO
   17  SECTION 13-256 OF THIS CHAPTER.
   18    S 4. This act shall take effect immediately and  shall  be  deemed  to
   19  have been in full force and effect on and after July 1, 1988.