S02110 Summary:
BILL NO | S02110 |
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SAME AS | SAME AS UNI. A03040 |
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SPONSOR | LAVALLE |
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COSPNSR | CROCI, FUNKE |
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MLTSPNSR | |
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Amd S218, Gen Muni L | |
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Increases the maximum contribution under a defined contribution plan service award from $700 to $2,100. |
S02110 Actions:
BILL NO | S02110 | |||||||||||||||||||||||||||||||||||||||||||||||||
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01/21/2015 | REFERRED TO LOCAL GOVERNMENT | |||||||||||||||||||||||||||||||||||||||||||||||||
01/06/2016 | REFERRED TO LOCAL GOVERNMENT |
S02110 Committee Votes:
Go to topS02110 Floor Votes:
There are no votes for this bill in this legislative session.
Go to topS02110 Text:
Go to top 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