A09157 Summary:
BILL NO | A09157A |
  | |
SAME AS | SAME AS S06224-A |
  | |
SPONSOR | Abbate |
  | |
COSPNSR | |
  | |
MLTSPNSR | |
  | |
Amd S13-541, NYC Ad Cd | |
  | |
Relates to the right of vested members to withdraw from the New York city teachers' retirement system; allows a member who has permanently ceased teaching in New York to elect to withdraw his/her accumulated contributions to enable the member to obtain credit for the teaching service in another state provided such member has at least five years of service credit in that system, and the withdrawal must be necessary in order for the member to obtain credit in the other system. |
A09157 Actions:
BILL NO | A09157A | |||||||||||||||||||||||||||||||||||||||||||||||||
  | ||||||||||||||||||||||||||||||||||||||||||||||||||
01/31/2012 | referred to governmental employees | |||||||||||||||||||||||||||||||||||||||||||||||||
05/31/2012 | amend and recommit to governmental employees | |||||||||||||||||||||||||||||||||||||||||||||||||
05/31/2012 | print number 9157a | |||||||||||||||||||||||||||||||||||||||||||||||||
06/05/2012 | reported referred to ways and means | |||||||||||||||||||||||||||||||||||||||||||||||||
06/14/2012 | reported referred to rules | |||||||||||||||||||||||||||||||||||||||||||||||||
06/18/2012 | reported | |||||||||||||||||||||||||||||||||||||||||||||||||
06/18/2012 | rules report cal.301 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/18/2012 | ordered to third reading rules cal.301 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/18/2012 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
06/18/2012 | delivered to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
06/18/2012 | REFERRED TO RULES | |||||||||||||||||||||||||||||||||||||||||||||||||
06/21/2012 | SUBSTITUTED FOR S6224A | |||||||||||||||||||||||||||||||||||||||||||||||||
06/21/2012 | 3RD READING CAL.1464 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/21/2012 | PASSED SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
06/21/2012 | RETURNED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
08/06/2012 | delivered to governor | |||||||||||||||||||||||||||||||||||||||||||||||||
08/17/2012 | signed chap.384 |
A09157 Floor Votes:
Yes
Abbate
Yes
Ceretto
Yes
Glick
Yes
Lentol
Yes
Murray
Yes
Ryan
Yes
Abinanti
Yes
Clark
ER
Goldfeder
Yes
Lifton
Yes
Nolan
Yes
Saladino
Yes
Amedore
Yes
Colton
Yes
Goodell
Yes
Linares
Yes
Oaks
Yes
Sayward
Yes
Arroyo
ER
Conte
Yes
Gottfried
Yes
Lopez PD
Yes
O'Donnell
Yes
Scarborough
Yes
Aubry
Yes
Cook
Yes
Graf
Yes
Lopez VJ
Yes
Ortiz
Yes
Schimel
Yes
Barclay
Yes
Corwin
Yes
Gunther
Yes
Losquadro
Yes
Palmesano
Yes
Schimminger
Yes
Barrett
Yes
Crespo
Yes
Hanna
Yes
Lupardo
Yes
Paulin
Yes
Simanowitz
Yes
Barron
Yes
Crouch
Yes
Hawley
Yes
Magee
Yes
Peoples Stokes
Yes
Simotas
Yes
Benedetto
Yes
Curran
Yes
Heastie
Yes
Magnarelli
Yes
Perry
Yes
Skartados
Yes
Blankenbush
Yes
Cusick
ER
Hevesi
Yes
Maisel
Yes
Pretlow
Yes
Smardz
ER
Boyland
Yes
Cymbrowitz
Yes
Hikind
Yes
Malliotakis
Yes
Quart
Yes
Stevenson
Yes
Boyle
Yes
DenDekker
Yes
Hooper
Yes
Markey
Yes
Ra
Yes
Sweeney
Yes
Braunstein
Yes
Dinowitz
Yes
Jacobs
Yes
Mayer
Yes
Rabbitt
Yes
Tedisco
Yes
Brennan
Yes
Duprey
Yes
Jaffee
Yes
McDonough
Yes
Raia
Yes
Tenney
Yes
Brindisi
Yes
Englebright
ER
Jeffries
Yes
McEneny
Yes
Ramos
Yes
Thiele
Yes
Bronson
Yes
Espinal
Yes
Johns
Yes
McKevitt
Yes
Reilich
Yes
Titone
Yes
Brook Krasny
Yes
Farrell
Yes
Jordan
Yes
McLaughlin
Yes
Reilly
ER
Titus
ER
Burling
Yes
Finch
Yes
Katz
ER
Meng
Yes
Rivera J
Yes
Tobacco
Yes
Butler
Yes
Fitzpatrick
Yes
Kavanagh
Yes
Miller D
Yes
Rivera N
Yes
Walter
Yes
Cahill
Yes
Friend
Yes
Kearns
ER
Miller JM
Yes
Rivera PM
Yes
Weinstein
Yes
Calhoun
Yes
Gabryszak
Yes
Kellner
Yes
Miller MG
Yes
Roberts
Yes
Weisenberg
Yes
Camara
Yes
Galef
Yes
Kolb
Yes
Millman
Yes
Robinson
Yes
Weprin
Yes
Canestrari
Yes
Gantt
ER
Lancman
Yes
Montesano
Yes
Rodriguez
Yes
Wright
Yes
Castelli
Yes
Gibson
Yes
Latimer
Yes
Morelle
Yes
Rosenthal
Yes
Zebrowski
Yes
Castro
Yes
Giglio
Yes
Lavine
Yes
Moya
Yes
Russell
Yes
Mr. Speaker
‡ Indicates voting via videoconference
A09157 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 9157--A IN ASSEMBLY January 31, 2012 ___________ Introduced by M. of A. ABBATE -- read once and referred to the Committee on Governmental Employees -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the administrative code of the city of New York, in relation to the right of vested members to withdraw from the New York city teachers' retirement system The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 13-541 of the administrative code of the city of 2 New York, as amended by chapter 854 of the laws of 1985, is amended to 3 read as follows: 4 § 13-541 Termination of membership; resignation, transfer or dismiss- 5 al. 1. Withdrawals from the retirement association shall be by resigna- 6 tion, by transfer, or by dismissal. Should a contributor resign from the 7 position by virtue of which he or she is a contributor under the 8 provisions of this chapter, or should he or she, upon transferring from 9 such a position to another position in the city-service, fail to become 10 a transferred-contributor as provided in section 13-523 of this chapter, 11 his or her membership in such association shall cease except as provided 12 in section 13-556 of this code and he or she shall be paid forthwith the 13 full amount of the accumulated deductions standing to the credit of his 14 or her individual account in the annuity savings fund. 15 2. Notwithstanding any other provision of law to the contrary, any 16 member of the retirement association subject to article fourteen or 17 fifteen of the retirement and social security law who has permanently 18 ceased teaching shall have the right to elect the return of his or her 19 accumulated contributions and thereby terminate his or her membership in 20 the retirement association without regard to the amount of service to 21 his or her credit, provided a public employee retirement system in 22 another state has certified in a manner satisfactory to the system that 23 such member is a member of such other retirement system, has at least 24 five years of retirement credit in such other system, and is eligible, 25 upon the termination of his or her membership in the system, to obtain 26 retirement credit in such other retirement system for the service which EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13999-02-2A. 9157--A 2 1 has been credited to his or her membership in the system. Upon refund of 2 such accumulated contributions, any and all obligations of the retire- 3 ment association to such member shall be totally discharged. The teach- 4 ers' retirement board is authorized to adopt such rules and regulations 5 as may be necessary to implement this subdivision. 6 § 2. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: PROVISIONS OF PROPOSED LEGISLATION: This proposed legislation would amend Administrative Code of the City of New York ("ACNY") Section 13-541 to allow certain Tier III and Tier IV members of the New York City Teacher's Retirement System ("TRS") to withdraw their memberships from TRS under certain conditions. For purposes of this Fiscal Note, the references herein to Tier IV include those TRS members who dates of membership are on or after April 1, 2012 (a.k.a., Tier VI members). Specifically, this proposed legislation would permit a Tier III or Tier IV member of TRS who has permanently ceased teaching to elect the return of his or her accumulated member contributions and terminate his or her membership in TRS without regard to the amount of service to his or her credit. As a condition necessary to this election, a Public Employee Retire- ment System ("PERS") in another state must certify in a manner satisfac- tory to TRS that such member is a member of such other PERS, has at least five years of retirement credit in such other PERS, and is eligi- ble, upon the termination of his or her membership in TRS, to obtain retirement credit in such other PERS for the service which has been credited to his or her membership in TRS. Upon refund to the member of his or her accumulated member contrib- utions, any and all obligations of TRS to the member would be totally discharged. The TRS Retirement Board would be authorized to adopt such rules and regulations as may be necessary to implement this subdivision. Note: One of the consequences to a member withdrawing from TRS would be to eliminate the opportunity of the member to receive any Other Postemployment Benefits ("OPEB") from the City of New York or other former employer participating in TRS. FINANCIAL IMPACT - ACTUARIAL PRESENT VALUE OF BENEFITS AND EMPLOYER CONTRIBUTIONS: For most members likely to elect the provisions of this proposed legislation, enactment would result in a modest reduction in the Actuarial Present Value of Benefits ("APVB") and employer contrib- utions to TRS. OTHER COSTS: The enactment of this proposed legislation would result in some administrative expenses for TRS. The enactment of this proposed legislation would, for certain members, result in a reduction in the obligations for OPEB benefits from their former employers. STATEMENT OF ACTUARIAL OPINION: I, Robert C. North, Jr., am the Chief Actuary for the New York City Retirement Systems. I am a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries. I meet the Qualification Standards of the American Academy of Actuaries to render the actuarial opinion contained herein. FISCAL NOTE IDENTIFICATION: This estimate is intended for use only during the 2012 Legislative Session. It is Fiscal Note 2012-11, dated May 24, 2012 prepared by the Chief Actuary of the New York City Teach- ers' Retirement System.