Bill Text: NY S05900 | 2019-2020 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relates to additional member contributions for certain members under the age fifty-seven retirement program; provides that members holding certain titles who due to their age at the time of enrollment in the age fifty-seven retirement program will not obtain twenty-five years of service credit and therefore will not be eligible for a refund of their additional member contributions shall not be required to make additional member contributions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-07-10 - PRINT NUMBER 5900B [S05900 Detail]

Download: New_York-2019-S05900-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5900

                               2019-2020 Regular Sessions

                    IN SENATE

                                      May 16, 2019
                                       ___________

        Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions

        AN  ACT  to amend the retirement and social security law, in relation to
          additional member contributions for  certain  members  under  the  age
          fifty-seven retirement program

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph 1 of  subdivision  f  of  section  604-d  of  the
     2  retirement  and  social security law is amended by adding a new subpara-
     3  graph (iv) to read as follows:
     4    (iv) notwithstanding the provisions of subparagraph (ii) of this para-
     5  graph, a participant holding the title of carpenter, supervisor  carpen-
     6  ter,  ship  carpenter,  supervisor  ship carpenter, rigger, dockbuilder,
     7  supervisor dockbuilder and  general  supervisor  dockbuilder  who  is  a
     8  participant  in the age fifty-seven retirement program and whose age and
     9  allowable service are such that he or she could not possibly be able  to
    10  accumulate  at  least twenty-five years of service by the time he or she
    11  reaches age fifty-seven, shall not be required to  make  the  additional
    12  member  contribution  pursuant  to  subparagraph (ii) of this paragraph.
    13  Any participant in the titles listed in this subparagraph who  has  made
    14  additional  member  contributions  pursuant to subparagraph (ii) of this
    15  paragraph prior to the effective date of the chapter of the laws of  two
    16  thousand nineteen that added this subparagraph shall receive a refund of
    17  the  employee  portion of such contributions plus interest provided that
    18  their age and allowable service are such that he or she could not possi-
    19  bly be able to accumulate at least twenty-five years of service  by  the
    20  time he or she reaches age fifty-seven.
    21    § 2. This act shall take effect immediately.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06637-01-9