NY State Senate Bill 2015-S5343

Senate Bill S5343

2015-2016 Legislative Session

Authorizes Jodi Manne to receive a refund from the New York state teachers' retirement system

download bill text pdf

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

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2016	referred to civil service and pensions returned to senate died in assembly
Jun 17, 2015	referred to governmental employees delivered to assembly passed senate
Jun 03, 2015	advanced to third reading
Jun 02, 2015	2nd report cal.
Jun 01, 2015	1st report cal.1100
May 13, 2015	referred to civil service and pensions

Votes

- Jun 17, 2015 - Floor Vote
  S5343
  
  63
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 17, 2015
      
      aye (63)
      
      Addabbo Jr.
      
      Amedore
      
      Avella
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Carlucci
      
      Comrie
      
      Croci
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Espaillat
      
      Farley
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hamilton
      
      Hannon
      
      Hassell-Thompson
      
      Hoylman-Sigal
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Libous
      
      Little
      
      Marcellino
      
      Marchione
      
      Martins
      
      Montgomery
      
      Murphy
      
      Nozzolio
      
      O'Mara
      
      Ortt
      
      Panepinto
      
      Parker
      
      Peralta
      
      Perkins
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Sampson
      
      Sanders Jr.
      
      Savino
      
      Serino
      
      Serrano
      
      Seward
      
      Skelos
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Valesky
      
      Venditto
      
      Young
  Jun 1, 2015 - Civil Service And Pensions Committee Vote
  S5343
  
  10
  
  Aye
  
  0
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Civil Service And Pensions Committee Vote: Jun 1, 2015
      
      aye (10)
      
      Addabbo Jr.
      
      Comrie
      
      Croci
      
      Dilan
      
      Golden
      
      Lanza
      
      Martins
      
      Ortt
      
      Ritchie
      
      Savino
      
      aye wr (1)
      
      Sanders Jr.

2015-S5343 (ACTIVE) - Details

See Assembly Version of this Bill:: A7710
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement
Versions Introduced in 2017-2018 Legislative Session:: A7707

2015-S5343 (ACTIVE) - Summary

Authorizes Jodi Manne to receive a refund from the New York state teachers' retirement system.

2015-S5343 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S5343

TITLE OF BILL:

An  act  to  authorize  Jodi Manne to receive a refund from the New York
state teachers' retirement system

PURPOSE:

To allow Jodi Manne to receive a refund of excess contributions made  to
the New York State Teacher's Retirement System from July 1, 2008 to June
30, 2008

SUMMARY OF PROVISIONS:

Section  1  notwithstands the provisions of subdivision b of section 902
of the retirement and social security law and  states  that  Jodi  Manne
formerly  a member of the New York City Teachers' Retirement System with
11 years and 3 moths service credit, who then paid contributions  as  an
employee  of  Greenburgh  Central Schools from July 1, 2008 through June
30, 2013 to the new York State Teachers Retirement System shall be enti-
tled to a refund of the accumulated 3 percent contributions paid to said
retirement system.

Section 2 states that all costs associated with  the  implementation  of
this  act shall be borne by the employers of the members of the New York

State Teachers' Retirement System.

Section 3 is the effective date.

The fiscal note states that the benefit is equal to the  refund  of  the
accumulated  member contributions paid by Ms Manne to the New York State
Teachers' Retirement System which is estimated to be $16,000.

JUSTIFICATION:

Jodi Manne is a Tier IV member of New  York  State  Teachers  Retirement
System  ("NYSTRS")  and formerly a member of the New York City Teachers'
Retirement System with 11 years and 3 moths  service  credit,  who  then
paid  contributions  as  an  employee of Greenburgh Central Schools from
July 1, 2008 through June 30, 2013 to NYSTRS.

Under State law, NYSTRS Tier 4 members are required to pay 3%  of  their
salary  until they have been a member for 10 years or accrue 10 years of
service credit. Ms. Manne, had accrued and paid 3% of her salary  for  a
total  of 16 years which entitles her to a refund for the overpayment to
NYSTRS.

LEGISLATIVE HISTORY:

New Bill.

FISCAL IMPLICATIONS:

The  cost  to  the  employers of members of the New York State Teachers'
Retirement System for this benefit is estimated to $16,000

EFFECTIVE DATE:

Immediately.

2015-S5343 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5343

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 13, 2015
                               ___________

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

AN ACT to authorize Jodi Manne to receive a refund  from  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. Notwithstanding the provisions of subdivision b of  section
902  of  the  retirement  and  social  security law, Jodi Manne a Tier 4
member of the New York state teachers' retirement system who was former-
ly a member of the New York city teachers' retirement  system,  with  11
years,  3  months  of  service credit, who then paid contributions as an
employee of the Greenburgh central school district  from  July  1,  2008
through  June 30, 2013 to the New York state teachers' retirement system
and on November 15, 2013 initiated a transfer from  the  New  York  city
teachers'  retirement  system to the New York state teachers' retirement
system, shall be entitled to a  refund  of  the  accumulated  3  percent
contributions paid to said retirement system for the period in which the
transfer was not initiated and cessation date was not established, if an
application is filed within one year of the effective date of this act.
  S 2. All costs associated with the implementation of this act shall be
borne  by  the  employers of the 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 Jodi Manne, a Tier 4  member  of  the  New  York
State Teachers' Retirement System (NYSTRS), who was formerly a member of
the New York City Teachers' Retirement System (NYCTRS) and who initiated
a  transfer  from  NYCTRS  to  NYSTRS  on November 15, 2013 to receive a
refund of the 3% contributions paid to NYSTRS for the  period  in  which
the  transfer  was  not  initiated and the cessation date was not estab-
lished.  Ms. Manne must file a written request with the head of the  New

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10386-02-5

S. 5343                             2

York  State Teachers' Retirement System within one year of the effective
date of this bill.
  The  cost  of  this  benefit is equal to the refund of the accumulated
member contributions paid by Ms. Manne to NYSTRS, which is estimated  to
be $16,000.
  Employee  data  is  from  the System's most recent actuarial valuation
files, consisting of data provided by the employers  to  the  Retirement
System.  Data  distributions and statistics can be found in the System's
Comprehensive Annual Financial  Report  (CAFR).  System  assets  are  as
reported  in the System's financial statements, and can also be found in
the CAFR. Actuarial assumptions and methods are provided in the System's
Actuarial Valuation Report.
  The source of this estimate is Fiscal Note 2015-28 dated May 12,  2015
prepared  by  the  Actuary  of  the  New York State Teachers' Retirement
System and is intended for use only during the 2015 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.

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