New York State Assembly

 
•  Summary 
 
•  Actions 
 
•  Committee Votes 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 
 
•  LFIN 
 
•  Chamber Video/Transcript 

A07353 Summary:

A07353 Actions:

A07353 Committee Votes:

Committee:EDUCATION   Chair:Nolan      
DATE:06/06/2017AYE/NAY:31/0  Action: Favorable refer to committee Ways and Means        
Nolan
Aye
Lopez
Aye
Hooper
Aye
Ra
Aye
Englebright
Aye
McDonough
Aye
Arroyo
Aye
Graf
Aye
Magnarelli
Aye
McLaughlin
Aye
Paulin
Aye
Murray
Aye
Ramos
Aye
Lawrence
Aye
Benedetto
Aye
Walsh
Aye
O'Donnell
Aye
Thiele
Aye
Titone
Aye
Titus
Aye
Miller
Aye
Mayer
Aye
Lifton
Aye
Kim
Aye
Rosenthal
Aye
Ryan
Aye
Mosley
Aye
Brindisi
Aye
Otis
Aye
Seawright
Aye
Jaffee
Aye

Committee:WAYS AND MEANS   Chair:Farrell      
DATE:06/13/2017AYE/NAY:33/0  Action: Favorable refer to committee Rules        
Farrell
Aye
Oaks
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Aye
Fitzpatrick
Aye
Weinstein
Aye
Hawley
Aye
Glick
Aye
Malliotakis
Aye
Nolan
Aye
Walter
Aye
Pretlow
Aye
Montesano
Aye
Perry
Aye
Curran
Aye
Colton
Aye
Ra
Aye
Cook
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Moya
Aye
Weprin
Aye
Rodriguez
Excused
Ramos
Excused
Braunstein
Aye
McDonald
Aye
Rozic
Aye

Committee:RULES   Chair:Heastie      
DATE:06/20/2017AYE/NAY:27/0  Action: Favorable         
Heastie
Aye
Kolb
Aye
Gottfried
Aye
Oaks
Aye
Lentol
Aye
Butler
Excused
Farrell
Aye
Crouch
Aye
Gantt
Aye
Finch
Excused
Nolan
Excused
Barclay
Aye
Weinstein
Aye
Raia
Aye
Hooper
Aye
Hawley
Aye
Ortiz
Aye
Pretlow
Aye
Cook
Aye
Glick
Aye
Morelle
Aye
Aubry
Aye
Englebright
Aye
Dinowitz
Aye
Colton
Aye
Magnarelli
Aye
Perry
Aye
Galef
Aye
Paulin
Aye
Titus
Excused
Peoples-Stokes
Aye

Committee:EDUCATION   Chair:Nolan      
DATE:04/25/2018AYE/NAY:28/0  Action: Favorable refer to committee Ways and Means        
Nolan
Aye
Murray
Aye
Hooper
Aye
Ra
Aye
Englebright
Aye
McDonough
Aye
Arroyo
Aye
Lawrence
Aye
Magnarelli
Aye
Walsh
Aye
Paulin
Aye
Miller ML
Aye
Ramos
Excused
Palmesano
Aye
Benedetto
Aye
Stec
Aye
O'Donnell
Aye
Thiele
Aye
Titus
Aye
Miller MG
Aye
Mayer
Excused
Lifton
Aye
Kim
Aye
Rosenthal
Aye
Ryan
Excused
Mosley
Aye
Brindisi
Aye
Otis
Aye
Seawright
Aye
Jaffee
Aye
Pellegrino
Aye

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:05/08/2018AYE/NAY:33/0  Action: Favorable         
Weinstein
Aye
Oaks
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Excused
Fitzpatrick
Aye
Glick
Aye
Hawley
Aye
Nolan
Excused
Malliotakis
Aye
Pretlow
Aye
Walter
Aye
Perry
Aye
Montesano
Aye
Colton
Aye
Curran
Aye
Cook
Aye
Ra
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Weprin
Aye
Rodriguez
Aye
Ramos
Aye
Braunstein
Aye
McDonald
Aye
Rozic
Aye
Peoples-Stokes
Aye
Simotas
Aye

A07353 Floor Votes:

A07353 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         7353--B
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                     April 24, 2017
                                       ___________
 
        Introduced  by M. of A. BUCHWALD, NOLAN, McDONALD, ABINANTI, M. G. MILL-
          ER, LUPARDO, DICKENS, WILLIAMS,  GUNTHER,  BRINDISI,  SKOUFIS,  JENNE,
          JONES,  D'URSO,  JAFFEE, ORTIZ, DiPIETRO, McDONOUGH, MONTESANO, BRABE-
          NEC, GIGLIO, MORINELLO, CROUCH, LAWRENCE,  STECK,  GOTTFRIED,  LIFTON,
          CAHILL, FAHY, HAWLEY, PAULIN, WOERNER, FINCH, MOSLEY, B. MILLER, RAIA,
          OTIS,  NORRIS, GALEF, BLANKENBUSH, WALLACE -- Multi-Sponsored by -- M.
          of A. FRIEND, MAGEE, RA, SIMON, THIELE -- (at request of the New  York
          State  Teachers'  Retirement  System) -- read once and referred to the
          Committee on Education -- committee discharged, bill amended,  ordered
          reprinted  as amended and recommitted to said committee -- recommitted
          to the Committee on Education in accordance with Assembly Rule 3, sec.
          2 -- committee discharged, bill amended, ordered reprinted as  amended
          and recommitted to said committee
 
        AN  ACT  to  amend  the  general  municipal law, in relation to allowing
          certain  school  districts  and  boards  of  cooperative   educational
          services  to  establish a retirement contribution reserve fund for the
          purposes of the New York state teachers' retirement system

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Paragraphs b and c of subdivision 1 of section 6-r of the
     2  general municipal law, as added by chapter 260 of the laws of 2004,  are
     3  amended to read as follows:
     4    b.  "Participating  employer"  means:  (i) a participating employer as
     5  defined in subdivision twenty of  section  two  of  the  retirement  and
     6  social  security  law  or in subdivision twenty of section three hundred
     7  two of such law; or (ii) a participating employer as defined in subdivi-
     8  sion three of section five hundred one of the education law.
     9    c. "Retirement contribution" shall mean all  or  any  portion  of  the
    10  amount  payable  by  a  municipal corporation to:(i) either the New York
    11  state and local employees' retirement system or the New York  state  and
    12  local police and fire retirement system pursuant to section seventeen or
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11188-03-8
        A. 7353--B                          2
 
     1  three  hundred  seventeen  of the retirement and social security law; or
     2  (ii) the New York state teachers' retirement system pursuant to  section
     3  five hundred twenty-one of the education law.
     4    §  2.  Subdivision  2  of section 6-r of the general municipal law, as
     5  added by chapter 260 of the laws of 2004, is amended to read as follows:
     6    2. The governing board of any municipal corporation which  is  also  a
     7  participating employer by resolution may establish a retirement contrib-
     8  ution  reserve fund for the purpose of (a) financing retirement contrib-
     9  utions, and/or (b) in the case of a municipal  corporation  which  is  a
    10  participating  employer  as defined in subdivision three of section five
    11  hundred one of the education law, financing appropriations authorized by
    12  law in order to offset all or a portion of the amount deducted from  the
    13  moneys  apportioned  to the municipal corporation from the state for the
    14  support of common schools pursuant to section five hundred twenty-one of
    15  the education law.
    16    § 3. Section 6-r of the general municipal law is amended by  adding  a
    17  new subdivision 2-a to read as follows:
    18    2-a.  With respect to a municipal corporation which is a participating
    19  employer as defined in subdivision three of section five hundred one  of
    20  the  education  law,  which  elects to utilize a retirement contribution
    21  reserve fund (a) to finance retirement contributions  to  the  New  York
    22  state teachers' retirement system pursuant to section five hundred twen-
    23  ty-one of the education law and/or (b) to offset all or a portion of the
    24  amount deducted from the moneys apportioned to the municipal corporation
    25  from  the  state  for  the support of common schools pursuant to section
    26  five hundred twenty-one of the education law, such municipal corporation
    27  shall establish a sub-fund within the  retirement  contribution  reserve
    28  fund,  which  shall  be  separately  administered  consistent  with  the
    29  provisions of this section. Such municipal corporation may pay into such
    30  sub-fund during any particular fiscal year an amount not to  exceed  two
    31  per  centum of the total compensation or salaries of all teachers in the
    32  employ of said municipal corporation who are members  of  the  New  York
    33  state  teachers' retirement system paid during the immediately preceding
    34  fiscal year. The balance of such sub-fund may not exceed ten per  centum
    35  of  the  total compensation or salaries of all teachers in the employ of
    36  the municipal corporation who are members of the New York  state  teach-
    37  ers'  retirement  system  paid  during  the immediately preceding fiscal
    38  year. For the purposes of this subdivision,  the  term  "teacher"  shall
    39  have  the same meaning as such term is defined under subdivision four of
    40  section five hundred one of the education law.
    41    § 4. Subdivision 5 of section 6-r of the  general  municipal  law,  as
    42  added by chapter 260 of the laws of 2004, is amended to read as follows:
    43    5. The governing board of such municipal corporation by resolution may
    44  authorize  expenditures  from  a  retirement  contribution reserve fund.
    45  Except as otherwise provided by law, moneys in a retirement contribution
    46  reserve fund may only be expended (a)  to  finance  retirement  contrib-
    47  utions,  and/or  (b)  in  the case of a municipal corporation which is a
    48  participating employer, as defined in subdivision three of section  five
    49  hundred  one  of the education law, for appropriations authorized by law
    50  in order to offset all or a portion of  the  amount  deducted  from  the
    51  moneys  apportioned to the participating employer from the state for the
    52  support of common schools pursuant to section five hundred twenty-one of
    53  the education law. With respect to a municipal corporation  which  is  a
    54  participating  employer  as defined in subdivision three of section five
    55  hundred one of the  education  law,  expenditures  from  the  retirement
    56  contribution reserve fund to finance retirement contributions to the New
        A. 7353--B                          3
 
     1  York  State teachers' retirement system pursuant to section five hundred
     2  twenty-one of the education law and/or to offset all or a portion of the
     3  amount deducted from the moneys apportioned to the municipal corporation
     4  from  the  state  for  the support of common schools pursuant to section
     5  five hundred twenty-one of the education law may only be made  from  the
     6  sub-fund established pursuant to subdivision two-a of this section.
     7    §  5.  Section 6-r of the general municipal law is amended by adding a
     8  new subdivision 11 to read as follows:
     9    11. The governing board of a municipal corporation which is a  partic-
    10  ipating employer as defined in subdivision three of section five hundred
    11  one of the education law by resolution may (a) authorize the transfer of
    12  all  or  a portion of the monies in the separately administered sub-fund
    13  as established under subdivision two-a of this section to the retirement
    14  contribution reserve fund, and/or (b) authorize the transfer of all or a
    15  portion of the monies in the retirement contribution reserve fund to the
    16  separately administered sub-fund as provided  in  subdivision  two-a  of
    17  this section, subject to the limits on annual payments into the sub-fund
    18  and  the  balance  of the sub-fund specified by the subdivision two-a of
    19  this section.
    20    § 6. This act shall take effect immediately.
          FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
          This bill would amend Section 6-r of  the  General  Municipal  Law  to
        allow  eligible  participating employers of the New York State Teachers'
        Retirement System (NYSTRS) to establish a reserve  sub-fund  within  the
        retirement  contribution reserve fund for the purpose of reserving money
        to offset future required contributions to NYSTRS. An employer  may  pay
        into  such  sub-fund  during any particular fiscal year an amount not to
        exceed two percent of the total compensation or salaries of all teachers
        employed by the employer who are members of NYSTRS paid during the imme-
        diately preceding fiscal year. Additionally, the total  balance  in  the
        sub-fund shall not exceed ten percent of the total compensation or sala-
        ries  of all teachers employed by the employer who are members of NYSTRS
        paid during the immediately preceding final year.
          The governing board  of  the  employer  may  by  resolution  authorize
        expenditures  from the retirement contribution reserve fund. The govern-
        ing board of the employer may also by resolution authorize the  transfer
        of money between the separately administered sub-fund and the retirement
        contribution  reserve fund subject to the limits on annual payments into
        the sub-fund and the balance of the sub-fund as provided in this bill.
          It is estimated that there will be no annual cost to the employers  of
        members  of  the New York State Teachers' Retirement System if this bill
        is enacted.
          Member data is from  the  System's  most  recent  actuarial  valuation
        files,  consisting  of  data provided by the employers to the Retirement
        System.  Data distributions and statistics can be found in the  System's
        Comprehensive  Annual  Financial  Report  (CAFR).  System  assets are as
        reported in the System's financial statements, and can also be found  in
        the CAFR. Actuarial assumptions and methods are provided in the System's
        Actuarial Valuation Report.
          The  source  of  this  estimate is Fiscal Note 2018-2 dated October 6,
        2017 prepared by the Actuary of the New York State Teachers'  Retirement
        System and is intended for use only during the 2018 Legislative Session.
        I,  Richard  A.  Young,  am the Actuary for the New York State Teachers'
        Retirement System. I am a member of the American  Academy  of  Actuaries
        and  I meet the Qualification Standards of the American Academy of Actu-
        aries to render the actuarial opinion contained herein.