Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 08, 2014 |
referred to civil service and pensions |
May 15, 2013 |
referred to civil service and pensions |
Senate Bill S5282
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Civil Service And Pensions 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
Actions
2013-S5282 (ACTIVE) - Details
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Amd §§445-a, 445-c, 504-a & 504-b, R & SS L
2013-S5282 (ACTIVE) - Summary
Removes the requirement that less than 15 years of credited service is necessary for the return of member contributions to correction officers of the city of New York in the twenty-year improved benefit retirement program; allows such correction officers who participate in the 20 year improved benefit plan to withdraw their contributions when they cease being correction officers regardless of length of service.
2013-S5282 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5282 TITLE OF BILL: An act to amend the retirement and social security law, in relation to the return of member contributions PURPOSE: Provides for the return of member contributions of NYC correction officers with less than 15 years of service SUMMARY OF PROVISIONS: Section 1 makes amendments to Retirement and Social Security Law section 445-a(7) (a), concerning the participation of NYC correction officers below the rank of captain in the 20-year improved benefit retirement program. Section 2 amends Retirement and Social Security Law section 445-c(d)(6, concerning participants in the 20-year improved retirement program for NYC corrections officers at the rank of captain or above. Section 3 amends makes a conforming amendment to Retirement and Social Security Law section 455-c(d)(11)(ii), Clause (a). Section 4, 5, and 6 similarly amend Retirement and Social Security Law
2013-S5282 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5282 2013-2014 Regular Sessions I N S E N A T E May 15, 2013 ___________ Introduced by Sen. GOLDEN -- 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 the return of member contributions THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (ii) of paragraph 7 of subdivision d of section 445-a of the retirement and social security law, as amended by chapter 631 of the laws of 1993, is amended to read as follows: (ii) Except as otherwise provided in subparagraph (iii) of this para- graph, should a participant in the twenty-year improved benefit retire- ment program[, who has rendered less than fifteen years of credited service] cease to hold the position of New York city correction officer below the rank of captain for any reason whatsoever OTHER THAN SERVICE RETIREMENT OR RESIGNATION WITH A VESTED RIGHT TO A BENEFIT, his or her accumulated additional member contributions made pursuant to this subdi- vision (together with any interest thereon paid to the retirement system) may be withdrawn by him or her pursuant to procedures promulgat- ed in regulations of the board of trustees of the retirement system, together with interest thereon equal to eight and one-quarter percent per annum, compounded annually. S 2. Paragraph 6 of subdivision d of section 445-c of the retirement and social security law, as added by chapter 631 of the laws of 1993, is amended to read as follows: 6. Where a person [who] became or becomes a participant in the twen- ty-year improved benefit retirement program for captains and above [has rendered less than fifteen years of credited service as of the date he or she became or becomes a New York city correction member of the rank of captain or above], the amount of the contribution deficiency charged to such a participant pursuant to paragraph five of this subdivision, consisting of retroactive additional member contributions plus interest EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09247-01-3
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