A09889 Summary:

BILL NOA09889A
 
SAME ASSAME AS S07074-A
 
SPONSORAbbate
 
COSPNSR
 
MLTSPNSRPerry
 
Amd S2, Chap 735 of 2006
 
Makes permanent provisions of the retirement and social security law that permit certain members of public retirement systems to receive partial lump sum distributions upon retirement.
Go to top    

A09889 Actions:

BILL NOA09889A
 
04/20/2012referred to governmental employees
05/14/2012amend and recommit to governmental employees
05/14/2012print number 9889a
06/05/2012reported referred to ways and means
06/14/2012reported referred to rules
06/20/2012reported
06/20/2012rules report cal.520
06/20/2012ordered to third reading rules cal.520
06/20/2012passed assembly
06/20/2012delivered to senate
06/20/2012REFERRED TO RULES
06/21/2012SUBSTITUTED FOR S7074A
06/21/20123RD READING CAL.1475
06/21/2012PASSED SENATE
06/21/2012RETURNED TO ASSEMBLY
08/06/2012delivered to governor
08/17/2012signed chap.391
Go to top

A09889 Floor Votes:

DATE:06/20/2012Assembly Vote  YEA/NAY: 141/0
ER
Abbate
Yes
Ceretto
Yes
Glick
Yes
Lentol
Yes
Murray
Yes
Ryan
Yes
Abinanti
Yes
Clark
Yes
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
ER
Scarborough
Yes
Aubry
Yes
Cook
ER
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
Yes
Hevesi
Yes
Maisel
Yes
Pretlow
Yes
Smardz
Yes
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
Yes
Titus
Yes
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
Yes
Miller JM
ER
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
ER
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
Go to top

A09889 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         9889--A
 
                   IN ASSEMBLY
 
                                     April 20, 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 chapter 735 of the laws of 2006, amending the retirement
          and social security law relating to permitting certain members of  the

          New  York state and local police and fire retirement system to receive
          a partial lump sum distribution upon retirement, in  relation  to  the
          effectiveness thereof
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 2 of chapter 735 of the laws of 2006, amending  the
     2  retirement  and  social  security  law  relating  to  permitting certain
     3  members of the New York state  and  local  police  and  fire  retirement
     4  system  to  receive  a partial lump sum distribution upon retirement, is
     5  amended to read as follows:
     6    § 2. This act shall take effect April 1, 2008 [and shall expire  April
     7  1,  2013  when upon such date the provisions of this act shall be deemed
     8  repealed].
     9    § 2. This act shall take effect immediately.

          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill will repeal the  expiration  date  of  April  1,  2013  from
        Section 2 of Chapter 735 of the laws of 2006, thereby making the Partial
        Lump  Sum  option  permanent for members of the New York State and Local
        Police and Fire System.
          If this legislation is enacted during the 2012 legislative session, we
        anticipate that there will not be costs for the lump sum  payments  made
        on and after April 1, 2013 since the payments are determined on an actu-
        arially equivalent basis.
          Summary of relevant resources:
          Data:  March  31,  2011  Actuarial Year End File with distributions of
        membership and other statistics displayed in  the  2011  Report  of  the
        Actuary and 2011 Comprehensive Annual Financial Report.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets

                              [ ] is old law to be omitted.
                                                                   LBD15334-02-2

        A. 9889--A                          2
 
          Assumptions  and  Methods:  2010  and  2011 Annual Report to the Comp-
        troller on Actuarial Assumptions, Codes Rules  and  Regulations  of  the
        State of New York: Audit and Control.
          Market  Assets and GASB Disclosures: March 31, 2011 New York State and
        Local Retirement System Financial Statements and Supplementary  Informa-
        tion.
          Valuations  of Benefit Liabilities and Actuarial Assets: summarized in
        the 2011 Actuarial Valuations report.
          I am a member of the American Academy of Actuaries and meet the Quali-
        fication Standards to render the actuarial opinion contained herein.
          This estimate, dated May 10, 2012, and intended for  use  only  during

        the  2012  Legislative  Session, is Fiscal Note No. 2012-149 prepared by
        the Actuary for the New York State and Local Police and Fire  Retirement
        System.
Go to top