Senate Bill S6950

2013-2014 Legislative Session

Grants Sal Medak Tier I status in the New York state and local employees' retirement system with a membership date of January 1972

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Archive: Last Bill Status - In Assembly 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

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2013-S6950 (ACTIVE) - Details

See Assembly Version of this Bill:
A9163
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement
Versions Introduced in 2011-2012 Legislative Session:
A8328

2013-S6950 (ACTIVE) - Summary

Grants Sal Medak Tier I status in the New York state and local employees' retirement system with a membership date of January 1, 1972.

2013-S6950 (ACTIVE) - Sponsor Memo

2013-S6950 (ACTIVE) - Bill Text download pdf

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

                                  6950

                            I N  S E N A T E

                              April 7, 2014
                               ___________

Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions

AN ACT in relation to granting Sal Medak Tier I status in the  New  York
  state and local employees' retirement system with a membership date of
  January 1972

  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,  Sal
Medak, who has been employed with the New York city education department
since  January of 1972, and for reasons not ascribable to his own negli-
gence did not become a member of the New York state and local employees'
retirement system at the time of his hiring and who is currently a  Tier
I  member  of  the New York state and local employees' retirement system
with a membership date of September 1972 shall be deemed to have  become
a  member  of  such system as of January 1, 1972 entitling him to Tier I
status with every right, benefit and privilege  which  would  have  been
available to him on such date.
  S 2. This act shall take effect immediately.
  FISCAL  NOTE.--  This bill would deem retired member Sal Medak to have
become a member of the New York State and  Local  Employees'  Retirement
System  (ERS) on January 1, 1972, thereby granting him the right to have
his final average salary recalculated with the inclusion of the lump sum
payment made for his unused vacation leave.
  If this bill is enacted, there will be a past service cost of approxi-
mately $56,200 which will be shared by the state of  New  York  and  the
participating employers in the ERS.
  Summary of relevant resources:
  The  membership  data  used  in  measuring  the impact of the proposed
change was the same as that used in the March 31, 2013  actuarial  valu-
ation.    Distributions  and  other  statistics can be found in the 2013
Report of the  Actuary  and  the  2013  Comprehensive  Annual  Financial
Report.
  The  actuarial assumptions and methods used are described in the 2010,
2011, 2012 and 2013  Annual  Report  to  the  Comptroller  on  Actuarial

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

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