Bill Text: NY S04602 | 2011-2012 | General Assembly | Introduced

New York Senate Bill 4602 (Prior Session Legislation)

Introduced

Bill Title: Grants Louis P. Mannino certain retirement service credit in the New York state teachers' retirement system.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2012-01-04 - REFERRED TO CIVIL SERVICE AND PENSIONS [S04602 Detail]

Download: New_York-2011-S04602-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
           S. 4602                                                  A. 7115
                              2011-2012 Regular Sessions
                             S E N A T E - A S S E M B L Y
                                    April 13, 2011
                                      ___________
       IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
         ed, and when printed to be committed to the Committee on Civil Service
         and Pensions
       IN  ASSEMBLY  --  Introduced  by  M.  of  A.  LOSQUADRO -- read once and
         referred to the Committee on Governmental Employees
       AN ACT in relation to granting Louis P. Mannino certain  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. Notwithstanding any other provision of law, Louis P. Manni-
    2  no, who was employed by Eastern Suffolk BOCES for almost 30  years,  and
    3  who  is  a  retired  member  of  the New York state teachers' retirement
    4  system, and who left employment with Eastern Suffolk BOCES on October 4,
    5  2006 and accepted termination pay for the period  beginning  October  4,
    6  2006  and  ending  June 30, 2007, and who, for reasons not ascribable to
    7  his own negligence, was not credited with service for such period, shall
    8  not be subject to the early retirement reduction imposed by statute  and
    9  shall be entitled to every right, benefit and privilege which would have
   10  been  available to him upon attaining thirty years of service, if, on or
   11  before December 31, 2011, he shall file a written request with the  head
   12  of the New York state teachers' retirement system to that effect.
   13    S 2. All costs associated with the implementation of this act shall be
   14  borne by Eastern Suffolk BOCES.
   15    S 3. This act shall take effect immediately.
         FISCAL NOTE.--Pursuant to Legislative Section 50:
         This  bill  would  allow Louis P. Mannino, a retired member of the New
       York State Teachers' Retirement System  with  Tier  3  status,  who  was
       employed  by  Eastern Suffolk BOCES for almost 30 years, and who retired
       prior to age 62, to have his pension recalculated without regard to  the
       early  retirement  reduction  required by statute. Mr. Mannino's pension
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06706-02-1
       S. 4602                             2                            A. 7115
       would be recalculated with retroactive adjustment to payments made since
       his date of retirement of July 1, 2007. Mr. Mannino must file a  written
       request  with the head of the New York State Teachers' Retirement System
       on or before December 31, 2011.
         The cost of this benefit is equal to the increase in the present value
       of liabilities, which is estimated to be $69,000. The cost will be borne
       by Eastern Suffolk BOCES.
         The  source  of  this  estimate is Fiscal Note 2011-26 dated March 17,
       2011 prepared by the Actuary of the New York State Teachers'  Retirement
       System and is intended for use only during the 2011 Legislative Session.