Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to civil service and pensions |
Feb 23, 2017 |
referred to civil service and pensions |
Senate Bill S4655
2017-2018 Legislative Session
Sponsored By
(R, C, IP, RFM) 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
co-Sponsors
(R, C, IP) Senate District
(D) 32nd Senate District
2017-S4655 (ACTIVE) - Details
- Current Committee:
- Senate Civil Service And Pensions
- Law Section:
- Retirement
2017-S4655 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4655 TITLE OF BILL : An act establishing a state government task force to study the feasibility of creating a New York State sponsored retirement security program for private sector workers in the state PURPOSE : To review whether private sector employees are adequately saving for retirement and whether a state-sponsored retirement program is necessary. SUMMARY OF PROVISIONS : Section one provides for the establishment of a state government task force to study the feasibility of a state-sponsored retirement security program for private sector workers. Furthermore, section one provides that the task force is to review reports and recommendations from reputable sources, conduct its own studies, surveys and make inquiries to determine whether the need exists in this State for a state-sponsored retirement security program. Section one also sets forth the criteria the task force is to consider when making such a determination. Additionally, the task
2017-S4655 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4655 2017-2018 Regular Sessions I N S E N A T E February 23, 2017 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT establishing a state government task force to study the feasibil- ity of creating a New York State sponsored retirement security program for private sector workers in the state THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 1. There shall be established a state government task force consisting of the superintendent of financial services and the director of the budget to study the feasibility of establishing a state sponsored retirement security program for private sector workers in this state. 2. The task force shall utilize the personnel and services of any other state agency in order to complete said feasibility study. 3. The task force shall review such reports and recommendations issued by any reputable source and shall examine the activities of other states in this area. 4. The task force shall initially conduct such studies, surveys and inquiries necessary to determine whether a need exists in this state for a state sponsored retirement security program or whether current private sector resources along with federal and state laws and incentives are sufficient to provide private sector workers with ability to establish adequate individual retirement programs designed to provide the requi- site retirement security. 5. In the event that the task force determines that current private sector resources along with federal and state laws are not sufficient to allow private sector workers to establish individual retirement programs, the task force shall determine the feasibility of the state sponsoring a retirement security program for private sector workers. In the course of such studies the task force shall consider the following criteria: a. maximization of participation and ease of enrollment; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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