Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 24, 2014 |
print number 5334a |
Jan 24, 2014 |
amend and recommit to civil service and pensions |
Jan 08, 2014 |
referred to civil service and pensions |
May 16, 2013 |
referred to civil service and pensions |
Senate Bill S5334A
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Civil Service And Pensions 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
Bill Amendments
2013-S5334 - Details
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Retirement
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S3448
2011-2012: S3989
2013-S5334 - Sponsor Memo
BILL NUMBER:S5334 TITLE OF BILL: An act to assign the late John Francis Covell to tier 4 status in the New York state teachers' retirement system as of the date of his death PURPOSE: This bill would allow Mrs. Florence M. Covell, widow of member John F. Covell who died in active service, to receive a Tier 4 active member death benefit. Mrs. Covell received the lesser Tier 1 death benefit because her husband was a Tier 1 member of the New York State Retirement System at the time of his death. He had recently completed a Tier reinstatement from Tier 4 to Tier 1. SUMMARY OF PROVISIONS: Section 1. Provides that Francis Covell shall be deemed to have had Tier 4 status as a member of the New York State Teachers' Retirement System on the date of his death, Further it provides that such system shall recalculate the benefits payable on account of his death and shall pay such benefits to his beneficiary as otherwise provided, less any amount already so paid. Section 2.Provides that all costs attributable to the operation of this act shall be borne by the employers of members of the New York
2013-S5334 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5334 2013-2014 Regular Sessions I N S E N A T E May 16, 2013 ___________ Introduced by Sen. BONACIC -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT to assign the late John Francis Covell to tier 4 status in the New York state teachers' retirement system as of the date of his death THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any inconsistent provision of law, John Francis Covell, a deceased member of the New York state teachers' retirement system, shall be deemed to have had tier 4 status as a member of said system on the date of his death. Said system shall recalculate the benefits payable on account of his death and shall pay such benefits to his beneficiary as otherwise provided, less any amount already so paid. S 2. All costs attributable to the operation of this act shall be borne by the employers of members of the New York state teachers' retirement system. S 3. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would allow Florence M. Covell, the widow of member John F. Covell who died in active service, to receive the Tier 4 active member death benefit. Ms. Covell received the lesser Tier 1 death benefit because her husband was a Tier 1 member of the New York State Teachers' Retirement System at the time of his death. He had recently completed a tier reinstatement from Tier 4 to Tier 1. The cost of this benefit is equal to the increase in the present value of benefits, which is estimated to be $94,000. The source of this estimate is Fiscal Note 2013-34 dated May 9, 2013 prepared by the Actuary of the New York State Teachers' Retirement System and is intended for use only during the 2013 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. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
2013-S5334A (ACTIVE) - Details
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Retirement
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S3448
2011-2012: S3989
2013-S5334A (ACTIVE) - Sponsor Memo
BILL NUMBER:S5334A TITLE OF BILL: An act to assign the late John Francis Covell to tier 4 status in the New York state teachers' retirement system as of the date of his death PURPOSE: This bill would allow Mrs. Florence M. Covell, widow of member John F. Covell who died in active service, to receive a Tier 4 active member death benefit. Mrs. Covell received the lesser Tier 1 death benefit because her husband was a Tier 1 member of the New York State Retirement System at the time of his death. He had recently completed a Tier rein- statement from Tier 4 to Tier 1. SUMMARY OF PROVISIONS: Section 1. Provides that Francis Covell shall be deemed to have had Tier 4 status as a member of the New York State Teachers' Retirement System on the date of his death. Further it provides that such system shall recalculate the benefits payable on account of his death and shall pay such benefits to his beneficiary as otherwise provided, less any amount already so paid. Section 2. Provides that all costs attributable to the operation of this act shall be borne by the employers of members of the New York State
2013-S5334A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5334--A 2013-2014 Regular Sessions I N S E N A T E May 16, 2013 ___________ Introduced by Sen. BONACIC -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions -- recommitted to the Committee on Civil Service and Pensions in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to assign the late John Francis Covell to tier 4 status in the New York state teachers' retirement system as of the date of his death THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any inconsistent provision of law, John Francis Covell, a deceased member of the New York state teachers' retirement system, shall be deemed to have had tier 4 status as a member of said system on the date of his death. Said system shall recalculate the benefits payable on account of his death and shall pay such benefits to his beneficiary as otherwise provided, less any amount already so paid. S 2. All costs attributable to the operation of this act shall be borne by the employers of members of the New York state teachers' retirement system. S 3. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would allow Florence M. Covell, the widow of member John F. Covell who died in active service, to receive the Tier 4 active member death benefit. Ms. Covell received the lesser Tier 1 death benefit because her husband was a Tier 1 member of the New York State Teachers' Retirement System at the time of his death. He had recently completed a tier reinstatement from Tier 4 to Tier 1. The cost for this benefit is equal to the increase in the present value of benefits, which is estimated to be $94,000. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05176-04-4
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