Provides that members of a retirement systems who retire from such system and later rejoin the retirement system are reinstated as a member of the same tier they were in prior to retirement.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A7332
SPONSOR: Bichotte Hermelyn TITLE OF BILL:
An act to amend the retirement and social security law, in relation to
providing that members of a retirement system who retire from such
system and later rejoin the retirement system are reinstated as a member
of the same tier they were in prior to retirement
PURPOSE::
The bills purpose is to allow those who were on a retirement system of
the state or of a municipality prior to 2009 and reenter in 2014 to
remain with the pension in 2009 (tier 4).
SUMMARY OF PROVISIONS::
Section 1. Section 440 of the retirement and social security law is
amended by adding a new subdivision f. Any member or employee who
retired from his or her retirement system of the state or of a munici-
pality on or after December thirty-first, in two thousand nine and who
subsequently rejoins the retirement system or program he or she retired
from shall be reinstated in such retirement system as a member of the
tier he or she originally was in.
Section 2. Section 500 of the retirement and social security law is
amended by adding a new subdivision h. Any member or employee who
retired from his or her retirement system of the state or of a munici-
pality on or after December thirty-first, in two thousand nine and who
subsequently rejoins the retirement system or program he or she retired
from shall be reinstated in such retirement system as a member of the
tier he or she originally was in.
Section 3. Section 600 of the retirement and social security law is
amended by adding a new subdivision d. Any member or employee who
retired from his or her retirement system of the state or of a munici-
pality on or after December thirty-first, in two thousand nine and who
subsequently rejoins the retirement system or program he or she retired
from shall be reinstated in such retirement system as a member of the
tier he or she originally was in.
Section 4. This act shall take effect immediately.
JUSTIFICATION::
The Office of the New York State Comptroller has a policy that indicates
that new members who join the NYSLRS are in Tier 6 and must pay required
membership contributions. This bill ensures that individuals remain in
the tier in the event they decide to return after leaving the retirement
system for a couple of years.
LEGISLATIVE HISTORY::
New Bill
FISCAL IMPLICATIONS::
None.
EFFECTIVE DATE::
This act shall take effect immediately.
