Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 20, 2015 |
signed chap.508 |
Nov 10, 2015 |
delivered to governor |
Jun 18, 2015 |
returned to senate passed assembly ordered to third reading rules cal.606 substituted for a8252 |
Jun 18, 2015 |
substituted by s5632a |
Jun 17, 2015 |
ordered to third reading rules cal.606 rules report cal.606 reported |
Jun 16, 2015 |
reported referred to rules |
Jun 15, 2015 |
referred to ways and means |
Assembly Bill A8252
Signed By Governor2015-2016 Legislative Session
Sponsored By
ABBATE
Archive: Last Bill Status Via S5632 - Signed by Governor
- 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
Votes
2015-A8252 (ACTIVE) - Details
- See Senate Version of this Bill:
- S5632
- Law Section:
- Retirement and Social Security Law
- Laws Affected:
- Amd ยง613, R & SS L
2015-A8252 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8252 2015-2016 Regular Sessions I N A S S E M B L Y June 15, 2015 ___________ Introduced by M. of A. ABBATE -- read once and referred to the Committee on Ways and Means AN ACT to amend the retirement and social security law, in relation to the SUNY optional retirement program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 2 of subdivision d of section 613 of the retire- ment and social security law, as amended by chapter 746 of the laws of 1990, is amended to read as follows: 2. Each participating employer of any employee (subject to this arti- cle) who, in lieu of joining a public retirement system of the state, elected an optional retirement program to which their employers are thereby required to contribute, INCLUDING, BUT NOT LIMITED TO, AN ELECTION UNDER THE PROVISIONS OF SUBDIVISION THREE-A OR EIGHT-A OF SECTION THREE HUNDRED NINETY OF THE EDUCATION LAW, shall pick up the employee contributions thereto which would otherwise be mandatory under the provisions of state law and shall do so by reducing the salary of such employee by the amount of employee contributions to such optional retirement program which would otherwise be mandatory under the provisions of state law. The contributions so picked up shall be paid by each participating employer in lieu of the member contributions to be paid by its employees and shall be treated as employer contributions in determining income tax treatment under section 414 (h) of the internal revenue code. S 2. This act shall take effect immediately and shall be deemed to have been in full force and effect on and after July 1, 2013. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill clarifies that the State University of New York's Optional Retirement Program (ORP) permits employee contributions to be "picked- up" under Internal Revenue Code for employees who make an election to participate under the provisions of subdivision three-a or eight-a of EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11288-03-5
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