Bill Text: NY S08450 | 2023-2024 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Provides that members of a retirement system who retire from such system and later rejoin the retirement system are reinstated with the same rights, benefits and privileges they had prior to retirement.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-06-03 - PRINT NUMBER 8450A [S08450 Detail]

Download: New_York-2023-S08450-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8450

                    IN SENATE

                                    January 31, 2024
                                       ___________

        Introduced  by  Sen.  PARKER -- 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
          providing  that  members  of  a retirement system who retire from such
          system and later rejoin the retirement  system  are  reinstated  as  a
          member of the same tier they were in prior to retirement

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 440 of the retirement and social  security  law  is
     2  amended by adding a new subdivision f to read as follows:
     3    f.  The  provisions  of  this subdivision apply to members of a public
     4  retirement system of the state or  of  a  municipality  thereof  and  to
     5  employees  who would have been eligible to join such a retirement system
     6  but in lieu thereof elected an optional retirement program to which  his
     7  or  her  employer was required to contribute. Any member or employee who
     8  retired from his or her retirement system on or after  December  thirty-
     9  first,  two  thousand  nine  and who subsequently rejoins the retirement
    10  system or program he or she retired from shall  be  reinstated  in  such
    11  retirement system as a member of the tier he or she originally was in.
    12    §  2. Section 500 of the retirement and social security law is amended
    13  by adding a new subdivision h to read as follows:
    14    h. The provisions of this subdivision apply to  members  of  a  public
    15  retirement  system  of  the  state  or  of a municipality thereof and to
    16  employees who would have been eligible to join such a retirement  system
    17  but  in lieu thereof elected an optional retirement program to which his
    18  or her employer was required to contribute. Any member or  employee  who
    19  retired  from  his or her retirement system on or after December thirty-
    20  first, two thousand nine and who  subsequently  rejoins  the  retirement
    21  system  or  program  he  or she retired from shall be reinstated in such
    22  retirement system as a member of the tier he or she originally was in.
    23    § 3. Section 600 of the retirement and social security law is  amended
    24  by adding a new subdivision d to read as follows:
    25    d.  The  provisions  of  this subdivision apply to members of a public
    26  retirement system of the state or  of  a  municipality  thereof  and  to

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10225-01-3
        S. 8450                             2

     1  employees  who would have been eligible to join such a retirement system
     2  but in lieu thereof elected an optional retirement program to which  his
     3  or  her  employer was required to contribute. Any member or employee who
     4  retired  from  his or her retirement system on or after December thirty-
     5  first, two thousand nine and who  subsequently  rejoins  the  retirement
     6  system  or  program  he  or she retired from shall be reinstated in such
     7  retirement system as a member of the tier he or she originally was in.
     8    § 4. This act shall take effect immediately.