Bill S5334A-2013

Assigns the late John Francis Covell to Tier IV status in the New York state teachers' retirement system as of the date of his death

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

Details

Actions

  • Jan 24, 2014: PRINT NUMBER 5334A
  • Jan 24, 2014: AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS
  • Jan 8, 2014: REFERRED TO CIVIL SERVICE AND PENSIONS
  • May 16, 2013: REFERRED TO CIVIL SERVICE AND PENSIONS

Memo

BILL NUMBER:S5334A

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:

Section 1. Provides that Francis Covell shall be deemed to have had Tier 4 status as a member of the New York State Teachers' Retirement System on the date of his death. Further it provides that such 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.

Section 2. Provides that 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.

Section 3. Effective date.

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.3989-A of 2012: Died in Senate Civil Service and Pensions S..3989 of 2011: Died in Senate Civil Service and Pensions S.3448 of 2010: Died in Senate Civil Service and Pensions, Died in Assembly Governmental Employees S.3448 of 2009: Died in Senate Civil Service and Pensions, Died in Assembly Governmental Employees S.4294-A of 2008: Died in Senate Civil Service and Pensions, Died in Assembly Governmental Employees S.4294 of 2007: Died in Senate Civil Service and Pensions, Died in Assembly Governmental Employees

FISCAL IMPLICATIONS:

The cost of this benefit is equal to the increase in the present value of benefits, which is estimated to be $94,000.

EFFECTIVE DATE:

This act shall take effect immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 5334--A 2013-2014 Regular Sessions IN SENATE May 16, 2013 ___________
Introduced by Sen. BONACIC -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions -- recommitted to the Committee on Civil Service and Pensions in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee 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.--Pursuant to Legislative Law, Section 50: 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.

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