Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 18, 2010 |
reported and committed to finance |
May 03, 2010 |
notice of committee consideration - requested |
Jan 06, 2010 |
referred to civil service and pensions |
Apr 27, 2009 |
referred to civil service and pensions |
Senate Bill S4945
2009-2010 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(D) Senate District
(D) Senate District
2009-S4945 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A4177
- Current Committee:
- Senate Finance
- Law Section:
- General Municipal Law
- Laws Affected:
- Amd ยง6-r, Gen Muni L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
S1590, A8920
2013-2014: A4659
2009-S4945 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4945 TITLE OF BILL : An act to amend the general municipal law, in relation to authorizing school districts and boards of cooperative educational services to establish retirement contribution reserve funds for the purposes of the New York state teachers' retirement system PURPOSE : The purpose of this bill is to authorize the establishment of school district and board of cooperative educational services reserve funds for contributions to the State Teachers Retirement System. SUMMARY OF PROVISIONS : Section one amends paragraphs b and c of subdivision 1 of section 6-r of the general municipal law, as added by chapter 260 of the laws of 2004. Section two provides an immediate effective date. JUSTIFICATION : Chapter 260 of the Laws of 2004 allowed public employers to create Retirement Contribution Reserve Funds, which basically are "rainy day funds" to defray the costs of future contributions to the Common Retirement Fund (CRF). This was a reform sought after by local
2009-S4945 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4945 2009-2010 Regular Sessions I N S E N A T E April 27, 2009 ___________ Introduced by Sen. OPPENHEIMER -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT to amend the general municipal law, in relation to authorizing school districts and boards of cooperative educational services to establish retirement contribution reserve funds 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: Section 1. Paragraphs b and c of subdivision 1 of section 6-r of the general municipal law, as added by chapter 260 of the laws of 2004, are amended to read as follows: b. "Participating employer" means: (I) a participating employer as defined in subdivision twenty of section two of the retirement and social security law or in subdivision twenty of section three hundred two of such law; OR (II) AN EMPLOYER AS DEFINED IN SUBDIVISION THREE OF SECTION FIVE HUNDRED ONE OF THE EDUCATION LAW. c. "Retirement contribution" shall mean all or any portion of the amount payable by a municipal corporation to: (I) either the New York state and local employees' retirement system or the New York state and local police and fire retirement system pursuant to section seventeen or three hundred seventeen of the retirement and social security law; OR (II) THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM PURSUANT TO SECTION FIVE HUNDRED TWENTY-ONE OF THE EDUCATION LAW. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01718-01-9
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.