NY State Senate Bill 2023-S9803

Senate Bill S9803

2023-2024 Legislative Session

Authorizes Jeffrey Alva Beall eligibility to apply for military service credit in the New York state teachers' retirement system

download bill text pdf

Current 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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 30, 2024	referred to civil service and pensions

2023-S9803 (ACTIVE) - Details

See Assembly Version of this Bill:: A10547
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement

2023-S9803 (ACTIVE) - Summary

Authorizes Jeffrey Alva Beall eligibility to apply for retroactive military service credit in the New York state teachers' retirement system.

2023-S9803 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S9803

SPONSOR: HELMING
 
TITLE OF BILL:

An act to authorize Jeffrey Alva Beall eligibility to apply for military
service credit in the New York state teachers' retirement system

 
PURPOSE OR GENERAL IDEA OF BILL:

Authorizes Jeffrey Alva Beall eligibility to apply for military service
credit in the New York state teachers' retirement system

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1. Notwithstanding subdivision 5 of section 1000 of the retire-
ment and social security law, Jeffrey Alva Beall, a retired member of
the New York state teachers' retirement system, who was on active duty
in the United States Army from April 17, 1984 until February 27, 1987,
shall be eligible to apply for military service credit, to be applied
retroactively to the date of his retirement, in the New York state
teachers' retirement system as otherwise provided pursuant to the

provisions of section 1000 of the retirement and social security law. To
obtain such credit Mr. Beall shall pay the New York state teachers'
retirement system a sum equal to the product of the number of years of
military service he served, and three percent of Mr. Beall's compen-
sation earned during the last twelve consecutive months of credited
service preceding the date of his retirement.

§ 2. This act shall take effect immediately.

 
FISCAL NOTE--PURSUANT TO LEGISLATIVE LAW, SECTION 50:

This bill would allow Jeffrey Alva Beall, a retired Tier 4 member of the
New York State Teachers' Retirement System, to purchase three years of
service credit for his military service when he was on active duty in
the United States Army from April 17, 1984 until February 27, 1987. Mr.
Beall must pay a sum equal to the product of the number of years of
military' service credit and three percent of his compensation earned
during the last twelve consecutive months of credited service preceding
his retirement. The increase in Mr.  Beall's pension would be payable
retroactively to his date of retirement. He was not eligible to purchase
this military service credit upon his retirement in 2016 as it was
before the law was changed to allow credit for military service rendered
at any time, rather than during specified periods of war. The cost of
this benefit is equal to the increase in the present value of liabil-
ities minus Mr. Beall's contribution, which is estimated to be $70,000.
This cost would be borne by the employers of members of the New York
State Teachers' Retirement System. Member data is from the System's most
recent actuarial valuation files as of June 30, 2023, consisting of data
provided by the employers to the Retirement System.  The most recent
data distributions and statistics can be found in the System's Annual
Report for fiscal year ended June 30, 2023. System assets are as
reported in the System's financial statements and can also be found in
the System's Annual Report. Actuarial assumptions and methods are
provided in the System's Actuarial Valuation Report as of June 30, 2023.
The source of this estimate is Fiscal Note 2024-33 dated May 30, 2024
prepared by the Office of the Actuary of the New York State Teachers'
Retirement System and is intended for use only during the 2024 Legisla-
tive Session. 1, Richard A. Young, am the Chief 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 Actuaries to render the actuarial opinion contained herein.

 
JUSTIFICATION:

In January of 2016 Jeff Beall retired from the public-school system.
Then, on May 31, 2016, Governor Cuomo signed a bill (A.9531) that would
allow members of the public retirement systems of the state to buy back
portions of their military service time. Because he retired in January,
before the bill was signed, Mr. Beal is ineligible to purchase that time
back. This legislation would allow him to purchase the time back.

 
PRIOR LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

See Fiscal Note.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S9803 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9803
 
                             I N  S E N A T E
 
                               May 30, 2024
                                ___________
 
 Introduced  by  Sen. HELMING -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT to authorize Jeffrey Alva Beall eligibility to apply for military
   service credit in 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  subdivision  5  of  section  1000 of the
 retirement and social security law, Jeffrey Alva Beall, a retired member
 of the New York state teachers' retirement system,  who  was  on  active
 duty  in  the  United States Army from April 17, 1984 until February 27,
 1987, shall be eligible to apply for  military  service  credit,  to  be
 applied  retroactively  to  the  date of his retirement, in the New York
 state teachers' retirement system as otherwise provided pursuant to  the
 provisions  of  section  1000 of the retirement and social security law.
 To obtain such credit Mr. Beall shall pay the New York  state  teachers'
 retirement  system  a sum equal to the product of the number of years of
 military service he served, and three percent  of  Mr.  Beall's  compen-
 sation  earned  during  the  last  twelve consecutive months of credited
 service preceding the date of his retirement.
   § 2. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would allow Jeffrey Alva Beall, a retired Tier 4  member  of
 the  New York State Teachers' Retirement System, to purchase three years
 of service credit for his military service when he was on active duty in
 the United States Army from April 17, 1984 until February 27, 1987.  Mr.
 Beall  must  pay  a  sum  equal to the product of the number of years of
 military service credit and three percent  of  his  compensation  earned
 during  the last twelve consecutive months of credited service preceding
 his retirement. The increase in Mr. Beall's  pension  would  be  payable
 retroactively to his date of retirement. He was not eligible to purchase
 this  military  service  credit  upon  his  retirement in 2016 as it was
 before the law was changed to allow credit for military service rendered
 at any time, rather than during specified periods of war.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15265-03-4

 S. 9803                             2
 
   The cost of this benefit is equal to the increase in the present value
 of liabilities minus Mr. Beall's contribution, which is estimated to  be
 $70,000. This cost would be borne by the employers of members of the New
 York State Teachers' Retirement System.
   Member data is from the System's most recent actuarial valuation files
 as of June 30, 2023, consisting of data provided by the employers to the
 Retirement System. The most recent data distributions and statistics can
 be  found  in  the System's Annual Report for fiscal year ended June 30,
 2023. System assets are as reported in the System's financial statements
 and can also be found in the System's Annual Report.  Actuarial  assump-
 tions  and  methods  are  provided  in  the System's Actuarial Valuation
 Report as of June 30, 2023.
   The source of this estimate is Fiscal Note 2024-33 dated May 30,  2024
 prepared  by  the  Office of the Actuary of the New York State Teachers'
 Retirement System and is intended for use only during the 2024  Legisla-
 tive Session. I, Richard A. Young, am the Chief 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 Actuaries to render the actuarial opinion contained herein.

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