S3989-2011 Actions

• May 9, 2012: PRINT NUMBER 3989A
• May 9, 2012: AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS
• Jan 4, 2012: REFERRED TO CIVIL SERVICE AND PENSIONS
• Mar 11, 2011: REFERRED TO CIVIL SERVICE AND PENSIONS

S3989-2011 Memo

BILL NUMBER:S3989

TITLE OF BILL:
An act
to assign the late John Francis Covell to tier 4 status in the New York
state teachers' retirement system as of the date of his death

PURPOSE:
This bill would allow Mrs. Florence M. Covell, widow of member John F.
Covell who died in active service, to receive a Tier 4 active member
death benefit. Mrs. Covell received the lesser Tier 1 death benefit
because her husband was a Tier 1 member of the New York State
Retirement System at the time of his death. He had recently completed
a tier reinstatement from Tier 4 to Tier 1.

SUMMARY OF PROVISIONS:
See the Purpose section above.

JUSTIFICATION:
It seems that near the time of death of Mr. Covell, that Mr. Covell
mistakenly filled out his retirement forms to transfer to Tier 1
status when that would not have been in the best interests of himself
or his family. The bill corrects that misfortune due to the confusion
of all parties at the time of Mr. Covell's death.

LEGISLATIVE HISTORY:
S.4294-A of 2008 S.3839-A of 2006, S.4294-A of 2007/2008, S.3448
of 2009/2010

FISCAL IMPLICATIONS:
See bill.

EFFECTIVE DATE:
Immediate.

S3989-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         3989
 2011-2012 Regular Sessions
 I N  SENATE
 March 11, 2011
 
 Introduced  by  Sen.  LARKIN -- read twice and ordered printed, and when
 printed to be committed to the Committee on Civil Service and Pensions
 

AN ACT to assign the late John Francis Covell to tier 4  status  in  the
 New York state teachers' retirement system as of the date of his death
 

THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section 1. Notwithstanding any inconsistent  provision  of  law,  John
 Francis  Covell,  a  deceased  member  of  the  New York state teachers'
 retirement system, shall be deemed to have had tier 4 status as a member
 of said system on the date of his death. Said system  shall  recalculate
 the benefits payable on account of his death and shall pay such benefits
 to  his  beneficiary  as  otherwise provided, less any amount already so
 paid.
 

S 2. All costs attributable to the operation  of  this  act  shall  be
 borne  by  the  employers  of  members  of  the New York state teachers'
 retirement system.
 

S 3. This act shall take effect immediately.
 FISCAL NOTE.--This bill would allow Florence M. Covell, the  widow  of
 member John F.  Covell who died in active service, to receive the Tier 4
 active member death benefit. Ms. Covell received the lesser Tier 1 death
 benefit  because  her  husband was a Tier 1 member of the New York State
 Teachers' Retirement System at the time of his death.   He had  recently
 completed a tier reinstatement from Tier 4 to Tier 1.
 The  cost  for  this  benefit  is equal to the increase in the present
 value of benefits, which is estimated to be $94,000.
 The source of this estimate is Fiscal Note 2011-10 dated March 8, 2011
 prepared by the Actuary of  the  New  York  State  Teachers'  Retirement
 System and is intended for use only during the 2011 Legislative Session.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03688-02-1

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