This bill has been amended

Bill S3721-2013

Relates to service credit of certain members of the New York state and local employees' retirement system who obtained credit for service with the Niagara Frontier Transit Metro System, Inc.

Relates to service credit of certain members of the New York state and local employees' retirement system who obtained credit for service with the Niagara Frontier Transit Metro System, Inc.; provides that any retirement or death benefit payable or paid by such retirement system shall be reduced by the amount of the non-forfeitable benefit payable or paid for such service under the Amalgamated Transit Union Local 1342 - Niagara Frontier Transit Metro System Pension Fund.

Details

Actions

  • Jan 8, 2014: REFERRED TO CIVIL SERVICE AND PENSIONS
  • Jan 8, 2014: returned to senate
  • Jan 8, 2014: died in assembly
  • Jun 17, 2013: referred to governmental employees
  • Jun 17, 2013: DELIVERED TO ASSEMBLY
  • Jun 17, 2013: PASSED SENATE
  • Mar 20, 2013: ADVANCED TO THIRD READING
  • Mar 19, 2013: 2ND REPORT CAL.
  • Mar 18, 2013: 1ST REPORT CAL.220
  • Feb 12, 2013: REFERRED TO CIVIL SERVICE AND PENSIONS

Votes

VOTE: COMMITTEE VOTE: - Civil Service and Pensions - Mar 18, 2013
Ayes (9): Golden, Fuschillo, Lanza, Martins, Ritchie, Savino, Sanders, Addabbo, Dilan
Ayes W/R (2): Hannon, Perkins

Memo

BILL NUMBER:S3721

TITLE OF BILL: An act in relation to service credit of certain members of the New York state and local employees' retirement system who obtained credit for service with the Niagara Frontier Transit Metro System, Inc.

PURPOSE: To ensure that the proper pension amount is paid by the New York state and local retirement system to certain members and retirees of the system.

SUMMARY OF PROVISIONS:

Section 1 of the bill adds a provision that clarifies the payment of pension benefits to any member or retiree of the New York state and local employees' retirement system who obtained credit for certain service with the Niagara Frontier Metro System and who also has a nonforfeitable benefit for such service under another pension.

Section 2 of the bill is the effective date.

JUSTIFICATION:

At the present time, the pension benefit amount for some members of the New York state and local employees' retirement system (the "State Retirement System") is under review due to a non-forfeitable benefit that these individuals have under another pension. Specifically, some members and retirees of the State Retirement System, who obtained credit for service after March 31, 1974 with the Niagara Frontier Metro System, also have a non-forfeitable benefit for such service under the Amalgamated Transit Union Local 1342 - Niagara Frontier Transit Metro System Pension Fund (the "Amalgamated Transit Union Pension").

The non-forfeitable nature of the Amalgamated Transit Union Pension benefit has complicated the potential eligibility and calculation of the pension benefit that these members and retirees of the State Retirement System rightly deserve. Although the affected individuals completed and filed the appropriate paperwork at the required time (in some cases, many years ago), this complication still persists today. By clarifying that the service provided by these individuals remains eligible for service with the State Retirement System, this legislation will provide the security these individuals need (and deserve) to plan their post-retirement lives. Further, this legislation protects the integrity of the State Retirement System by ensuring that members and retirees have been paid, and will continue to be paid, the correct pension benefit amounts.

LEGISLATIVE HISTORY: New legislation.

FISCAL IMPLICATIONS:

State revenues will increase to the extent that overpayments made by the State Retirement System in prior years are recouped.

EFFECTIVE DATE:

This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 3721 2013-2014 Regular Sessions IN SENATE February 12, 2013 ___________
Introduced by Sens. MAZIARZ, KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT in relation to service credit of certain members of the New York state and local employees' retirement system who obtained credit for service with the Niagara Frontier Transit Metro System, Inc. THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding the provisions of chapter 670 of the laws of 1996 or any other provision of law to the contrary, any member or retiree of the New York state and local employees' retirement system who obtained credit for service after March 31, 1974 with the Niagara Fron- tier Transit Metro System, Inc., and who retains a non-forfeitable bene- fit for such service under the Amalgamated Transit Union Local 1342 -- Niagara Frontier Transit Metro System Pension Fund shall remain eligible for such service with the New York state and local employees' retirement system; provided, however, that any retirement or death benefit payable or paid by such retirement system shall be reduced by the amount of the non-forfeitable benefit payable or paid for such service under the Amal- gamated Transit Union Local 1342 -- Niagara Frontier Transit Metro System Pension Fund. For any person currently receiving a retirement allowance, such reduction shall be retroactive to the effective date of retirement. S 2. This act shall take effect immediately. FISCAL NOTE.--This bill would reduce the retirement or death benefit payable or paid by the New York State and Local Employees' Retirement System (NYSLERS) to any member or retiree who obtained credit for service after March 31, 1974 with the Niagara Frontier Transit Metro System who retains a non-forfeitable benefit with the Niagara Metro Pension Fund for such service. The reduction in the benefit from NYSLERS will be based on the amount of the non-forfeitable benefit payable or

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