NY State Senate Bill 2011-S3401

Senate Bill S3401

Signed By Governor

2011-2012 Legislative Session

Relates to right of vested members of the New York state teachers' retirement system to withdraw from such system

download bill text pdf

Archive: Last Bill Status - Signed by Governor

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
Sep 23, 2011	signed chap.553
Sep 12, 2011	delivered to governor
Jun 20, 2011	returned to senate passed assembly ordered to third reading rules cal.521 substituted for a5368
May 10, 2011	referred to ways and means delivered to assembly passed senate
May 09, 2011	advanced to third reading
May 04, 2011	2nd report cal.
May 03, 2011	1st report cal.453
Feb 18, 2011	referred to education

Votes

- May 10, 2011 - Floor Vote
  S3401
  
  61
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: May 10, 2011
      
      aye (61)
      
      Adams
      
      Addabbo Jr.
      
      Alesi
      
      Avella
      
      Ball
      
      Bonacic
      
      Breslin
      
      Carlucci
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Duane
      
      Espaillat
      
      Farley
      
      Flanagan
      
      Fuschillo
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Grisanti
      
      Hannon
      
      Hassell-Thompson
      
      Huntley
      
      Johnson
      
      Kennedy
      
      Klein
      
      Krueger
      
      Kruger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Libous
      
      Little
      
      Marcellino
      
      Martins
      
      Maziarz
      
      McDonald
      
      Montgomery
      
      Nozzolio
      
      O'Mara
      
      Parker
      
      Peralta
      
      Perkins
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Saland
      
      Sampson
      
      Savino
      
      Serrano
      
      Seward
      
      Skelos
      
      Smith
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Valesky
      
      Young
      
      Zeldin
      
      excused (1)
      
      Oppenheimer
  May 3, 2011 - Education Committee Vote
  S3401
  
  17
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Education Committee Vote: May 3, 2011
      
      aye (17)
      
      Addabbo Jr.
      
      Avella
      
      Breslin
      
      Farley
      
      Flanagan
      
      Huntley
      
      LaValle
      
      Lanza
      
      Marcellino
      
      Maziarz
      
      Montgomery
      
      Ranzenhofer
      
      Robach
      
      Saland
      
      Serrano
      
      Seward
      
      Stavisky
      
      excused (1)
      
      Oppenheimer

co-Sponsors

2011-S3401 (ACTIVE) - Details

See Assembly Version of this Bill:: A5368
Law Section:: Education Law
Laws Affected:: Amd §512, Ed L
Versions Introduced in 2009-2010 Legislative Session:: S3510, A5313

2011-S3401 (ACTIVE) - Summary

Permits certain eligible vested members of the NYS teachers' in tiers 3 and 4 who have ceased teaching to withdraw from such system and to transfer such credits to another state's retirement system; requires return of accumulated member contributions.

2011-S3401 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S3401

TITLE OF BILL:
An act
to amend the education law, in relation to the right of vested members
to withdraw from the New York state teachers' retirement system

PURPOSE OF THE BILL:
This bill would allow certain Tiers 3, 4 and 5 vested members of the
New York State Teachers' Retirement System who have permanently
ceased teaching to withdraw from membership in the System.

SUMMARY AND JUSTIFICATION:
Pursuant to section 512(1) of the Education Law, Tier 1 and 2 members
of the System have an unrestricted right to terminate their
memberships with the System and withdraw their accumulated
contributions, if any, from the System. No similar right, however,
has been extended to members of the System provided benefits under
Articles 14 and 15 of the Retirement and Social Security Law. Once
Tier 3, 4 and 5 members have accumulated 10 years of credited service
with the system, they are locked into System membership even where it
may not be to their advantage.

It is not always to a Tier 3, 4 or 5 member's advantage to have
his/her membership in the System continue after he or she has ceased
teaching in New York state. Specifically, teachers who have been

compelled by circumstances to leave New York state and take up
residence in other states may have the opportunity to obtain credit
for their New York service in the public employee retirement systems
of other states provided they are not entitled to a benefit from the
system for that service. Allowing Tiers 3, 4 and 5 members to withdraw
from the System in that circumstance so that they can obtain credit
for their New York service in another state would make their service
portable.

This bill would add a new subdivision g to section 512 of the
Education Law. This would allow a member of the system subject to
Article 14 or 15 of the Retirement and Social Security Law who has
permanently ceased teaching in New York to elect to withdraw his/her
accumulated contributions and thereby terminate his/her membership in
the System where the purpose of the withdrawal is to enable the member
to obtain credit for the teaching service in a public employee
retirement system in another state. The retirement system in the
other state must certify that the member seeking withdrawal is a
member of that system, that the member has at least five years of
service credit in that system, and that withdrawal from the System is
necessary in order for the member to obtain credit for the member's
New York service in the other system. Upon payment of the accumulated
contributions to the member, any and all obligations of the System to
the member would cease. The System's Retirement Board is expressly
authorized to adopt rules and regulations implementing new
subdivision g.

FISCAL IMPLICATIONS:
There are no fiscal implications to the State. The Teachers'
Retirement System requested this legislation and stated that a very


limited number of teachers would qualify for a withdrawal from the
system.

EFFECTIVE DATE:
The bill would take effect immediately.

2011-S3401 (ACTIVE) - Bill Text download pdf

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

                                  3401

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            February 18, 2011
                               ___________

Introduced by Sen. GOLDEN -- (at request of the New York State Teachers'
  Retirement System) -- 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 the right of vested
  members to withdraw from  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 512 of the education law is amended by adding a new
subdivision g to read as follows:
  G. NOTWITHSTANDING ANY OTHER PROVISION OF   LAW TO THE  CONTRARY,  ANY
MEMBER  OF  THE RETIREMENT SYSTEM SUBJECT TO ARTICLE FOURTEEN OR FIFTEEN
OF THE RETIREMENT AND SOCIAL SECURITY LAW  WHO  HAS  PERMANENTLY  CEASED
TEACHING  SHALL HAVE THE RIGHT TO ELECT THE RETURN OF HIS OR HER ACCUMU-
LATED CONTRIBUTIONS AND THEREBY TERMINATE HIS OR HER MEMBERSHIP  IN  THE
RETIREMENT  SYSTEM WITHOUT REGARD TO THE AMOUNT OF SERVICE TO HIS OR HER
CREDIT, PROVIDED A PUBLIC EMPLOYEE RETIREMENT SYSTEM  IN  ANOTHER  STATE
HAS CERTIFIED IN A MANNER SATISFACTORY TO THE SYSTEM THAT SUCH MEMBER IS
A  MEMBER  OF  SUCH  OTHER RETIREMENT SYSTEM, HAS AT LEAST FIVE YEARS OF
RETIREMENT CREDIT IN SUCH OTHER SYSTEM, AND IS ELIGIBLE, UPON THE TERMI-
NATION OF HIS OR HER MEMBERSHIP IN  THE  SYSTEM,  TO  OBTAIN  RETIREMENT
CREDIT  IN  SUCH  OTHER RETIREMENT SYSTEM FOR THE SERVICE WHICH HAS BEEN
CREDITED TO HIS OR HER MEMBERSHIP IN THE SYSTEM.  UPON  REFUND  OF  SUCH
ACCUMULATED  CONTRIBUTIONS,  ANY  AND  ALL OBLIGATIONS OF THE RETIREMENT
SYSTEM TO SUCH MEMBER SHALL BE TOTALLY DISCHARGED. THE RETIREMENT  BOARD
IS AUTHORIZED TO ADOPT SUCH RULES AND REGULATIONS AS MAY BE NECESSARY TO
IMPLEMENT THIS SUBDIVISION.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This  bill  would  amend Section 512 of the Education Law to allow any
member of the  New  York  State  Teachers'  Retirement  System  (NYSTRS)

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08931-01-1

S. 3401                             2

subject  to  Article  14 or 15 of the Retirement and Social Security Law
who has permanently ceased teaching to elect  to  receive  a  refund  of
their  accumulated member contributions and thereby terminate membership
in  the NYSTRS provided he or she is a member of another state's retire-
ment system, has at least five years of service credit  in  such  system
and  is  eligible  to  obtain  retirement credit for this service in the
other retirement system. All rights to  any  future  benefits  from  the
NYSTRS  would  be  forfeited.  Currently, members who cease teaching and
have greater than 10 years of service credit do not have the  option  of
electing  to receive their accumulated member contributions in lieu of a
monthly benefit at retirement. In the vast majority of cases, the  pres-
ent  value  of  the retirement benefit is much greater than the value of
the accumulated member contributions.
  The annual cost to the employers of members  of  the  New  York  State
Teachers'  Retirement  System is estimated to be negligible if this bill
is enacted.
  The source of this estimate is Fiscal Note 2011-3 dated September  24,
2010  prepared by the Actuary of the New York State Teachers' Retirement
System and is intended for use only during the 2011 Legislative Session.

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 S3401

Share this bill

Sponsored By

Martin J. Golden