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S01011 Summary:

BILL NOS01011
 
SAME ASSAME AS A03357
 
SPONSORBROUK
 
COSPNSR
 
MLTSPNSR
 
Add §540, Ed L; add §§113-b & 411-a, R & SS L
 
Relates to changes of membership eligibility in a New York state retirement system.
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S01011 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1011
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                       (Prefiled)
 
                                     January 8, 2025
                                       ___________
 
        Introduced  by  Sen.  BROUK  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
 
        AN ACT to amend the education law and the retirement and social security
          law, in relation to changes of membership eligibility in  a  New  York
          state retirement system
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The education law is amended by adding a new section 540 to
     2  read as follows:
     3    § 540. Written acknowledgement of change of membership eligibility.  A
     4  member  intending to initiate or undergo a change of title or employment
     5  responsibilities while remaining in the employ of such member's  current
     6  employer  which shall affect such member's eligibility for membership or
     7  ability to accrue service credit in the  retirement  system  defined  in
     8  subdivision  one  of  section five hundred one of this article, and such
     9  member's employer shall both execute a written statement provided by the
    10  retirement board that such member  and  such  employer  acknowledge  and
    11  understand  that  such  member,  on a specific date, will no longer be a
    12  member of such retirement system or will no longer be eligible to accrue
    13  service credit in such member's retirement plan.  Such  employer  shall,
    14  within  thirty  days  after signature by both parties, file such written
    15  statement with the retirement board in order to effectuate  such  change
    16  of membership.
    17    § 2. The retirement and social security law is amended by adding a new
    18  section 113-b to read as follows:
    19    §  113-b. Written acknowledgement of change of membership eligibility.
    20  A member intending to initiate or undergo a change of title  or  employ-
    21  ment  responsibilities  while  remaining  in the employ of such member's
    22  current employer  which  shall  affect  such  member's  eligibility  for
    23  membership  or ability to accrue service credit in the retirement system
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00371-01-5

        S. 1011                             2
 
     1  defined in subdivision twenty-eight of section two of this article,  and
     2  such  member's  employer shall both execute a written statement provided
     3  by the office of the comptroller that  such  member  and  such  employer
     4  acknowledge and understand that such member, on a specific date, will no
     5  longer be a member of such retirement system or will no longer be eligi-
     6  ble  to  accrue  service  credit  in such member's retirement plan. Such
     7  employer shall, within thirty days after signature by both parties, file
     8  such written statement with the office of the comptroller  in  order  to
     9  effectuate such change of membership.
    10    § 3. The retirement and social security law is amended by adding a new
    11  section 411-a to read as follows:
    12    §  411-a. Written acknowledgement of change of membership eligibility.
    13  A member intending to initiate or undergo a change of title  or  employ-
    14  ment  responsibilities  while  remaining  in the employ of such member's
    15  current employer  which  shall  affect  such  member's  eligibility  for
    16  membership  or ability to accrue service credit in the retirement system
    17  defined in subdivision twenty-eight of section three hundred two of this
    18  article, and such member's employer shall both execute a written  state-
    19  ment  provided  by  the  office of the comptroller that such  member and
    20  such employer acknowledge and understand that such member, on a specific
    21  date, will no longer be a member of such retirement system  or  will  no
    22  longer  be eligible to accrue service credit in such member's retirement
    23  plan. Such employer shall, within thirty days after  signature  by  both
    24  parties,  file such written statement with the office of the comptroller
    25  in order to effectuate such change of membership.
    26    § 4. This act shall take effect on the sixtieth  day  after  it  shall
    27  have  become  a  law.    Effective  immediately, the addition, amendment
    28  and/or repeal of any rule or regulation necessary for the implementation
    29  of this act on  its  effective  date  are  authorized  to  be  made  and
    30  completed on or before such effective date.
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