NY State Senate Bill 2013-S2645

Senate Bill S2645

2013-2014 Legislative Session

Authorizes school districts to establish reserve funds for the payment of their contributions to the New York state teachers' retirement system

download bill text pdf

Archive: Last Bill Status - In Senate Committee Education Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2014	referred to education
Jan 23, 2013	referred to education

co-Sponsors

2013-S2645 (ACTIVE) - Details

Current Committee:: Senate Education
Law Section:: Education Law
Laws Affected:: Amd §3651, Ed L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S1912
2017-2018: S762

2013-S2645 (ACTIVE) - Summary

Authorizes school districts to establish reserve funds for the payment of their contributions to the New York state teachers' retirement system.

2013-S2645 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S2645

TITLE OF BILL:
An act
to amend the education law, in relation to authorizing school districts
to establish reserve funds for the payment of contributions to the New
York state teachers' retirement system

PURPOSE:
Authorizes school districts to establish reserve funds for the payment
of their contributions to the New York State Teachers' Retirement
System

SUMMARY OF PROVISIONS:

Section 1- amends 3651 of the education law by adding a new
subdivision 1-c to authorize school districts to establish a reserve
fund for the payment of the district's contributions to the New York
State Teachers' Retirement System without the approval of the voters
in the district. Such fund may not exceed the amount which is
necessary to meet such contributions.

Section 2- Contains the effective date.

EXISTING LAW:

Section 3651 of the education law sets the parameters for reserve
funds for school districts.

JUSTIFICATION:
Pension contribution rates have varied dramatically over the past two
decades, from almost zero to over twenty percent. This volatility in
expense obligation is difficult for school districts to budget for.

Current law allows for reserve funds for pension contributions for
employees, but not for teachers. By providing school districts with
the ability to establish reserve funds for teacher contributions,
school districts will be able to better prepare for increases in
contribution cost from year to year and stabilize tax rates.

LEGISLATIVE HISTORY: New Bill

FISCAL IMPLICATIONS: None

LOCAL FISCAL IMPLICATIONS:
Will allow school districts to be prepared for the fluctuating, costs
of pension contributions

EFFECTIVE DATE:
This act shall take effect immediately.

2013-S2645 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2645

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 23, 2013
                               ___________

Introduced  by  Sens. LITTLE, MARTINS -- read twice and ordered printed,
  and when printed to be committed to the Committee on Education

AN ACT to amend the education law, in  relation  to  authorizing  school
  districts  to establish reserve funds for the payment of contributions
  to 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:

  Section  1.  Section  3651 of the education law is amended by adding a
new subdivision 1-c to read as follows:
  1-C.  NOTWITHSTANDING  THE  PROVISIONS  OF  SUBDIVISION  ONE  OF  THIS
SECTION,  ANY  SCHOOL  DISTRICT  MAY  ESTABLISH  A  RESERVE FUND FOR THE
PAYMENT OF THE DISTRICT'S CONTRIBUTIONS TO THE NEW YORK STATE  TEACHERS'
RETIREMENT  SYSTEM,  PURSUANT TO ARTICLE ELEVEN OF THIS CHAPTER, WITHOUT
APPROVAL BY THE QUALIFIED VOTERS OF  THE  DISTRICT;  PROVIDED,  HOWEVER,
THAT  THE TOTAL OF THE MONIES HELD IN SUCH RESERVE FUND SHALL NOT EXCEED
THAT AMOUNT WHICH IS REASONABLY DEEMED NECESSARY TO MEET  SUCH  CONTRIB-
UTIONS.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05907-01-3

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Senate Bill S2645

Share this bill

Sponsored By

Betty Little