Bill Text: NY S03548 | 2009-2010 | General Assembly | Introduced

New York Senate Bill 3548 (Prior Session Legislation)

Introduced

Bill Title: Provides that an eligible member of the public retirement system may buy service credit for certain military service with two years of credited service.

Spectrum: Moderate Partisan Bill (Republican 13-2)

Status: (Introduced - Dead) 2010-01-06 - REFERRED TO CIVIL SERVICE AND PENSIONS [S03548 Detail]

Download: New_York-2009-S03548-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3548
                              2009-2010 Regular Sessions
                                   I N  S E N A T E
                                    March 24, 2009
                                      ___________
       Introduced  by Sens. MAZIARZ, ALESI, BONACIC, FUSCHILLO, GOLDEN, GRIFFO,
         LARKIN, LIBOUS, LITTLE,  MORAHAN,  OPPENHEIMER,  RANZENHOFER,  SEWARD,
         VOLKER  --  read  twice  and  ordered  printed, and when printed to be
         committed to the Committee on Civil Service and Pensions
       AN ACT to amend the retirement and social security law, in  relation  to
         allowing  an eligible member of the public retirement system to obtain
         service credit for certain military service if  such  person  has  two
         years of credited service
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivision 3 of section 1000 of the retirement and  social
    2  security law, as added by chapter 548 of the laws of 2000, is amended to
    3  read as follows:
    4    3.  A  member  must have at least [five] TWO years of credited service
    5  (not including service granted hereunder)  to  be  eligible  to  receive
    6  credit under this section.
    7    S 2. This act shall take effect immediately.
         FISCAL NOTE.--This bill would amend Chapter 548 of the laws of 2000 to
       allow  members  who  have  at least two (2) years of credited service to
       purchase service credit for military service. Previously a member needed
       at least five (5) years of credited service to be eligible  to  purchase
       such service credit.
         For members that purchase military service credit who ordinarily would
       not  have attained five years of service credit, the additional military
       service credit could provide a vested retirement benefit where a retire-
       ment benefit would not have existed.
         Insofar as this bill would affect the New York State and Local Employ-
       ees' Retirement System and the New York State and Local Police and  Fire
       Retirement System, there will be a cost for such members. Such cost will
       depend  on  the plan coverage, salary and age of the members who will be
       receiving an increased benefit. This cost will be shared by the State of
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01959-02-9
       S. 3548                             2
       New York and all participating employers in the New York State and Local
       Employees' Retirement System and the New York State and Local Police and
       Fire Retirement System.
         This  estimate,  dated March 16, 2009 and intended for use only during
       the 2009 Legislative Session, is Fiscal Note No. 2009-179,  prepared  by
       the  Actuary  for  the  New  York  State and Local Employees' Retirement
       System and the New York State  and  Local  Police  and  Fire  Retirement
       System.