Bill Text: NY S07667 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to a waiver of earnings limitation for certain retirees of the New York state and local police and fire retirement system who are employed by the state university.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2018-06-13 - referred to governmental employees [S07667 Detail]

Download: New_York-2017-S07667-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7667
                    IN SENATE
                                    February 6, 2018
                                       ___________
        Introduced  by Sen. STAVISKY -- 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 a
          waiver of earnings limitation for certain retirees  of  the  New  York
          state  and local police and fire retirement system who are employed by
          the state university
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Subparagraphs 6 and 7 of paragraph (a) of subdivision 2 of
     2  section 211 of the retirement and social security law, subparagraph 6 as
     3  amended by chapter 753 of the laws of 1976 and subparagraph 7 as amended
     4  by chapter 840 of the laws of 1983, are amended and a new subparagraph 8
     5  is added to read as follows:
     6    (6) the chancellor of  state  university  if  such  person  is  to  be
     7  employed  in  the  unclassified  service  of the state university of New
     8  York, or in the professional service at the state colleges  of  agricul-
     9  ture,  home  economics,  veterinary  medicine  or  industrial  and labor
    10  relations, the state agricultural experiment station at  Geneva  or  any
    11  other  institution or agency under the management and control of Cornell
    12  university as representative of the  board  of  trustees  of  the  state
    13  university  of  New  York, or at the state college of ceramics under the
    14  management and control of Alfred university  as  representative  of  the
    15  board  of trustees of the state university of New York or in the unclas-
    16  sified service of a community college other than those in  the  city  of
    17  New  York,  or  if such person is a retired member of the New York state
    18  and local police and fire retirement system and is to be employed  as  a
    19  faculty  member,  provided,  however,  that  no  waiver shall be granted
    20  pursuant to this subdivision for any university law  enforcement  title;
    21  or
    22    (7)  the  chief  administrator  of  the courts if such person is to be
    23  employed in a judicial or nonjudicial  position  in  the  unified  court
    24  system[.]; or
    25    (8)  the president of a community college under a program of the state
    26  university of New York, if such person is a retired member  of  the  New
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04504-02-8
        S. 7667                             2
     1  York  state  and  local  police  and fire retirement system and is to be
     2  employed as a member of the faculty or as director of public safety.
     3    § 2. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill will allow retired police officers and retired firefighters
        of the New York State and Local Police and  Fire  Retirement  System  to
        work  as  an  employee of the state university as a faculty member or to
        work as an employee of a community college as a faculty member or direc-
        tor of public safety and continue to receive their retirement  benefits,
        without  suspension  or  diminution of such benefits, provided they have
        been granted a waiver of retirement earnings limitations by the chancel-
        lor of the state university of New York or the president of a  community
        college under a program of the state university.
          If  this bill is enacted, we expect few retirees of the New York State
        and Local Police and Fire Retirement System to be affected. There  would
        be negligible additional annual costs.
          Summary of relevant resources:
          The  membership  data  used  in  measuring  the impact of the proposed
        change was the same as that used in the March 31, 2017  actuarial  valu-
        ation.    Distributions  and  other  statistics can be found in the 2017
        Report of the  Actuary  and  the  2017  Comprehensive  Annual  Financial
        Report.
          The  actuarial  assumptions  and  methods  used are described in 2015,
        2016, and 2017 Annual Report to the  Comptroller  on  Actuarial  Assump-
        tions,  and  the  Codes  Rules and Regulations of the State of New York:
        Audit and Control.
          The Market Assets and GASB Disclosures are found in the March 31, 2017
        New York State and Local  Retirement  System  Financial  Statements  and
        Supplementary Information.
          I am a member of the American Academy of Actuaries and meet the Quali-
        fication Standards to render the actuarial opinion contained herein.
          This  estimate,  dated  January  31,  2018,  and intended for use only
        during the  2018  Legislative  Session,  is  Fiscal  Note  No.  2018-50,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.