S02110 Summary:

BILL NOS02110
 
SAME ASSAME AS UNI. A03040
 
SPONSORLAVALLE
 
COSPNSRCROCI, FUNKE
 
MLTSPNSR
 
Amd S218, Gen Muni L
 
Increases the maximum contribution under a defined contribution plan service award from $700 to $2,100.
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S02110 Actions:

BILL NOS02110
 
01/21/2015REFERRED TO LOCAL GOVERNMENT
01/06/2016REFERRED TO LOCAL GOVERNMENT
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S02110 Committee Votes:

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S02110 Floor Votes:

There are no votes for this bill in this legislative session.
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S02110 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
            S. 2110                                                  A. 3040
 
                               2015-2016 Regular Sessions
 
                SENATE - ASSEMBLY
 
                                    January 21, 2015
                                       ___________
 
        IN  SENATE  --  Introduced  by  Sens.  LAVALLE,  CROCI -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Local Government
 
        IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
          to the Committee on Local Governments
 
        AN ACT to amend the general municipal law, in relation to increasing the
          maximum contribution under a defined contribution plan service award
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision  (b)  of section 218 of the general municipal
     2  law, as amended by chapter 452 of the laws of 2004, is amended  to  read
     3  as follows:
     4    (b) The sponsor of a defined contribution plan shall contribute to the
     5  plan a fixed amount of money, as determined by the sponsor, on behalf of
     6  each participant who is credited with a year of service. The minimum and
     7  maximum  contribution  requirements  for  a defined contribution service
     8  award program shall be as follows. The minimum contribution shall be one
     9  hundred twenty dollars per year of  service.  The  maximum  contribution
    10  shall  be  [seven]  twenty-one  hundred dollars per year of service. The
    11  maximum number of years of service for which a participant may receive a
    12  contribution shall be forty years. The sponsor shall appropriate annual-
    13  ly an amount sufficient to pay the contributions.
    14    § 2. This act shall take effect immediately.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02403-01-5
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