Provides that court reporters employed by the unified court system may retire upon the completion of 25 years of creditable service; provides that the benefit upon retirement would be an allowance of one-half of final average salary; provides that there shall be no reduction for early service retirement.
STATE OF NEW YORK
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8328
IN SENATE
June 23, 2010
___________
Introduced by Sens. ADDABBO, SAVINO -- read twice and ordered printed,
and when printed to be committed to the Committee on Rules
AN ACT to amend the retirement and social security law, in relation to
retirement of court reporters employed by the unified court system
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The retirement and social security law is amended by adding
2 a new section 89-x to read as follows:
3 § 89-x. Retirement of court reporters employed by the unified court
4 system. a. A member employed as a court reporter employed by the unified
5 court system shall be eligible to retire pursuant to the provisions of
6 this section. Such eligibility shall be an alternative to the eligibil-
7 ity provisions available under any other plan of this article to which
8 such member is subject.
9 b. Such member shall be entitled to retire upon the completion of
10 twenty-five years of total creditable service by filing an application
11 therefor in the manner provided in section seventy of this article.
12 c. Upon completion of twenty-five years of such service and upon
13 retirement, each such member shall receive a pension which, together
14 with an annuity which shall be the actuarial equivalent of his or her
15 accumulated contributions at the time of his or her retirement and an
16 additional pension which is the actuarial equivalent of the reserve-for-
17 increased-take-home-pay to which he or she may then be entitled shall be
18 sufficient to provide him or her with a retirement allowance equal to
19 one-half of his or her final average salary.
20 d. As used in this section "creditable service" shall be all service
21 as a court reporter employed by the unified court system.
22 e. A member, contributing on the basis of this section at the time of
23 retirement, shall retire after the completion of twenty-five years of
24 total creditable service. Application therefor may be filed in a manner
25 similar to that provided in section seventy of this article. Upon
26 completion of twenty-five years of such service and upon retirement,
27 each such member shall receive a pension which, together with an annuity
28 which shall be the actuarial equivalent of his or her accumulated
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD17274-02-0
S. 8328 2
1 contributions at the time of his or her retirement and an additional
2 pension which is the actuarial equivalent of the reserve-for-increased-
3 take-home-pay to which he or she may then be entitled shall be suffi-
4 cient to provide him or her with a retirement allowance equal to one-
5 half of his or her final average salary.
6 f. In computing the twenty-five years of total service of a member
7 pursuant to this section full credit shall be given and full allowance
8 shall be made for service of such member in time of war after World War
9 I as defined in section two of this chapter, provided such member at the
10 time of his or her entrance into the armed forces was in the service of
11 the unified court system.
12 g. Nothing herein shall be construed to prevent a member who does not
13 retire pursuant to the provisions of this section from utilizing service
14 which is creditable service pursuant to the provisions of this section
15 for service credit pursuant to the provisions of any other section of
16 this article to which such member is subject.
17 § 2. Subdivision b of section 442 of the retirement and social securi-
18 ty law is amended by adding a new paragraph 5 to read as follows:
19 5. A member who is a court reporter employed by the unified court
20 system may retire without reduction in his or her retirement benefit
21 upon completion of twenty-five or more years of service.
22 § 3. Subdivision a of section 603 of the retirement and social securi-
23 ty law, as amended by section 7 of part B of chapter 504 of the laws of
24 2009, is amended to read as follows:
25 a. The service retirement benefit specified in section six hundred
26 four of this article shall be payable to members who have met the mini-
27 mum service requirements upon retirement and attainment of age sixty-
28 two, other than members who are eligible for early service retirement
29 pursuant to subdivision c of section six hundred four-b of this article,
30 subdivision c of section six hundred four-c of this article, subdivision
31 d of section six hundred four-d of this article, subdivision c of
32 section six hundred four-e of this article, subdivision c of section six
33 hundred four-f of this article, subdivision c of section six hundred
34 four-g of this article, subdivision c of section six hundred four-h of
35 this article or subdivision c of section six hundred four-i of this
36 article, provided, however, a member of a teachers' retirement system or
37 the New York state and local employees' retirement system who first
38 joins such system before January first, two thousand ten or a member who
39 is a uniformed court officer or peace officer employed by the unified
40 court system may retire without reduction of his or her retirement bene-
41 fit upon attainment of at least fifty-five years of age and completion
42 of thirty or more years of service, provided, however, that a uniformed
43 court officer or peace officer employed by the unified court system who
44 first becomes a member of the New York state and local employees'
45 retirement system on or after January first, two thousand ten and
46 retires without reduction of his or her retirement benefit upon attain-
47 ment of at least fifty-five years of age and completion of thirty or
48 more years of service pursuant to this section shall be required to make
49 the member contributions required by subdivision f of section six
50 hundred thirteen of this article for all years of credited and credita-
51 ble service. A member who is a court reporter employed by the unified
52 court system shall be eligible for early service retirement without
53 reduction of his or her retirement benefit upon completion of twenty-
54 five or more years of service.
S. 8328 3
1 § 4. Subdivision a of section 603 of the retirement and social securi-
2 ty law, as amended by section 3-a of chapter 19 of the laws of 2008, is
3 amended to read as follows:
4 a. The service retirement benefit specified in section six hundred
5 four of this article shall be payable to members who have met the mini-
6 mum service requirements upon retirement and attainment of age sixty-
7 two, other than members who are eligible for early service retirement
8 pursuant to subdivision c of section six hundred four-b of this article,
9 subdivision c of section six hundred four-c of this article, subdivision
10 d of section six hundred four-d of this article, subdivision c of
11 section six hundred four-e of this article, subdivision c of section six
12 hundred four-f of this article, subdivision c of section six hundred
13 four-g of this article, subdivision c of section six hundred four-h of
14 this article or subdivision c of section six hundred four-i of this
15 article provided, however, a member who is a peace officer employed by
16 the unified court system or a member of a teachers' retirement system or
17 the New York state and local employees' retirement system may retire
18 without reduction of his or her retirement benefit upon attainment of at
19 least fifty-five years of age and completion of thirty or more years of
20 service, and a member who is a court reporter employed by the unified
21 court system shall be eligible for early service retirement without
22 reduction of his or her retirement benefit upon completion of twenty-
23 five or more years of service.
24 § 5. Section 604 of the retirement and social security law is amended
25 by adding a new subdivision u to read as follows:
26 u. The early service retirement benefit for a member who is employed
27 as a court reporter in the unified court system shall be a pension equal
28 to one-fiftieth of final average salary times years of credited service
29 at the completion of twenty-five years of service as such court reporter
30 but not exceeding one-half of his or her final salary.
31 § 6. Paragraph 1 of subdivision b of section 902 of the retirement and
32 social security law, as amended by section 10 of part B of chapter 504
33 of the laws of 2009, is amended to read as follows:
34 1. [An] Except for court reporter of the unified court system, an
35 eligible employee (i) with a date of membership in a retirement system
36 on or after July twenty-seventh, nineteen hundred seventy-six and before
37 January first, two thousand ten, and (ii) who has ten or more years of
38 membership or ten or more years of credited service with a retirement
39 system under the provisions of article fourteen or fifteen of this chap-
40 ter shall not be required to contribute to a retirement system pursuant
41 to section five hundred seventeen or six hundred thirteen of this chap-
42 ter as of the cessation date. Court reporters of the unified court
43 system with ten or more years of membership or ten or more years of
44 credited service shall not be required to contribute to a retirement
45 system pursuant to section six hundred thirteen of this chapter.
46 § 7. The cost attributable to the operation of this act shall be borne
47 by the unified court system.
48 § 8. This act shall take effect immediately, provided, that the amend-
49 ments to subdivision a of section 603 of the retirement and social secu-
50 rity law made by section three of this act shall be subject to the expi-
51 ration and reversion of such subdivision pursuant to section 13 of
52 chapter 682 of the laws of 2003, as amended, when upon such date the
53 provisions of section four of this act shall take effect.
FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
This bill would allow court reporters employed by the Unified Court
System to retire without benefit reduction due to early retirement upon
S. 8328 4
completion of twenty-five (25) years of credible service. In addition
this bill removes the required member contributions of 3% of salary that
such Tier 5 members would make for all years of service and replaces
that requirement with 3% of salary for the first 10 years of service
only. The benefit upon retirement would be an allowance of one-half of
final average salary. There would be no reduction for early service
retirement.
If this bill is enacted, we anticipate that for Tier 1, 2, 3 and 4
court reporters employed by the Unified Court System there will be an
increase of approximately $3.2 million in the annual contributions of
the State of New York, on behalf of the Unified Court System for the
fiscal year ending March 31, 2011. In addition, for all Tier 5 court
reporters employed by the Unified Court System, there will also be an
annual increase to the State of New York of approximately 4.8% of sala-
ry.
In addition to the annual contributions discussed above, there will be
an immediate past service cost of approximately $15.2 million which
would be borne by the State of New York as a one-time payment. This
estimate is based on the assumption that payment will be made on March
1, 2011.
These estimated costs are based on 1,140 known affected officers
having a total estimated annual salary for the fiscal year ending March
31, 2010 of approximately $113 million.
This estimate, dated June 9, 2010 and intended for use only during the
2010 Legislative Session, is Fiscal Note No. 2010-166, prepared by the
Actuary for the New York State and Local Employees' Retirement System.
