Bill Text: NY S02459 | 2011-2012 | General Assembly | Introduced

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Bill Title: Authorizes James Freitag to apply for retroactive membership in the New York state teachers' retirement system, and to have his retirement benefits adjusted accordingly.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2012-01-04 - REFERRED TO CIVIL SERVICE AND PENSIONS [S02459 Detail]

Download: New_York-2011-S02459-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2459
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                   January 21, 2011
                                      ___________
       Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
         printed to be committed to the Committee on Civil Service and Pensions
       AN ACT to authorize James Freitag, a retiree receiving benefits from the
         New York state teachers' retirement system, to apply  for  retroactive
         membership in such 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 provision of law to the contrary, James
    2  Freitag, a retired member of the New  York  state  teachers'  retirement
    3  system  having  Tier  III status and receiving retirement benefits since
    4  his retirement on August 15, 2010, who was  employed  as  a  provisional
    5  counselor by the county of Cattaraugus from June 5, 1975 until September
    6  12,  1976,  and  who,  for reasons not ascribable to his own negligence,
    7  failed to become a member of the New York  state  and  local  employees'
    8  retirement  system  during such employment by the county of Cattaraugus,
    9  shall be deemed to have become a member of the New York state  teachers'
   10  retirement  system  having  Tier  II  status  on  June 5, 1975 and shall
   11  receive service credit in such retirement system for his  employment  by
   12  the  county of Cattaraugus, if, on or before December 31, 2011, he files
   13  a written application therefor with   the head of  the  New  York  state
   14  teachers'  retirement  system; and upon receipt of such application, the
   15  head of the New York state teachers' retirement system shall recalculate
   16  James Freitag's retirement benefits retroactive to August  5,  2010  and
   17  thereafter  and  pay  such benefits accordingly as if he shall have been
   18  deemed to have joined such retirement system on June 5, 1975.
   19    S 2. All past service costs of implementing the provision of this  act
   20  shall be borne by the county of Cattaraugus.
   21    S  3. Notwithstanding any other provision of law, no employee contrib-
   22  utions shall be returned to James Freitag.
   23    S 4. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06930-03-1
       S. 2459                             2
         FISCAL NOTE.--This bill would allow James Freitag, a retired Tier  III
       member  of the New York State Teachers' Retirement System, to be reclas-
       sified as a Tier II member. His date of membership would be  changed  to
       June  5,  1975, based upon his employment with the county of Cattaraugus
       during the period June 5, 1975 to September 12, 1976.  Additionally, Mr.
       Freitag's  pension  would be recalculated with retroactive adjustment to
       payments made since his date of retirement of August 15, 2010. Mr. Frei-
       tag must file a written request with the head of New York  State  Teach-
       ers'  Retirement  System  on  or  before  December 31, 2011. No employee
       contributions shall be refunded.
         The cost of this benefit is equal to the increase in the present value
       of liabilities, which is estimated to be $81,000.  This  cost  shall  be
       borne  by  the county of Cattaraugus. The annul cost to the employers of
       members of the New York State Teachers' Retirement System  is  estimated
       to be negligible if this bill is enacted.
         The  source  of this estimate is Fiscal Note 2011-06 dated December 9,
       2010 prepared by the Actuary of the New York State Teachers'  Retirement
       System and is intended for use only during the 2011 Legislative Session.