Source: https://www.scribd.com/doc/30898509/Retirement-Program
Timestamp: 2017-02-28 07:01:02
Document Index: 764426519

Matched Legal Cases: ['§ 2', '§ 3', '§ 4', '§ 6', '§ 7', '§ 8', '§ 9', '§ 10', '§ 11', '§ 12', '§ 13', '§ 14', '§ 15', 'art, 24', '§ 16', '§ 2', '§ 4', '§ 5', 'art. 05', '§ 4']

BrowseInterestsBiography & MemoirBusiness & LeadershipFiction & LiteraturePolitics & EconomyHealth & WellnessSociety & CultureHappiness & Self-HelpMystery, Thriller & CrimeHistoryYoung AdultBrowse byBooksAudiobooksNews & MagazinesSheet MusicBrowse allUploadSign inJoin﻿Legislative Bill Drafting Commission 12220-04-0PROGRAM BILL" 2 4 9 S. Senate IN SENATE--Introduced by Sen --read twice and ordered printed, and when printed to be committed to the Committee on -------- A. Assembly IN ASSEMBLY--Introduced by M. of A. with M. of A. as co-sponsors --read once and referred to the Committee on *RETIRE* (Establishes temporary retirement benefit incentives for certain public employees) Temp. retire incentives AN ACT to provide incentive for ees (Part A); 55/25 years incentive for ees (Part B) a temporary retirement certain public employand to provide an age temporary retirement certain public employ- The people of the of New State York, represented in Senate and Assembly, do enact as follows: IN SENATE __ Senat-e. introducer ~ s signature of this proposal The senators whose nemea are circled below wish to join ee ;in the sponsorship 820 Adams slS Addabbo sS5 Alesi $48 Aubertine s42 aceeca.e s46 Breslin s03 Foley 50'9 Fuaehil10 939 Larkin s22 Golden s-Ol LaValle sll7 Griffo s06 Hannon 617 Dilan 850 DePr.ancisco Thompson s36 Hassell,,_ 832 Diaz 810 Huntley s29 Du~.r.ui a33 Espada 1544 Farlay 802 Fl..anagan 840 Leibell. &52 Li.bous 545 Little 505 Marcellino &62 Maziarz &34 f':lei:n 807 JOhnSOllI C. 543 McDonald s3 S Morahan s04 JOhnSOD1 o. 1518 Mont:.gomery s26 Krueger s27 Kruger 8.54 Nozzolio ;1;112 Onorato 637 Oppenheimer 511 Pad;elv~ $21 parker s13 Peralta 830 PerkinB 861 luw.zenhofer s56 Robach s41 580land 519 Sampson B09 Ske10a s1.4 Sm1.th Ei25 Squadron ElSS Stachowski s16 Stavisky s.35 Stewart- Cousins s60 Thompson s23 Savino sS 9 Volker 64.9 Val.esky s31 schneidepo.i,Ul s53 Winner s51 Seward. 828 Serrano 657 Young 1i.Ssenm1y introducer I s signature aDS3 Beastie a02B Hevesi a048 Hikind a018 Hooper 80144 Hoyt 80022 Meng IN ASSEMBLY __ 6.021. Alfano alOS Am.edore a084 Arroyo .. 035 Alll>ry 6.102 Miller t J. allS Russell t.0 6' :Rosenthal The Members of the ASsemoly whose names are circled belOW wish to join me in the :multi-sponsorship of this proposal: al.36 aeeemee a{l99 B.f!lll IH24 Ba.rcl.ay a014 Barra a040 Barron aDS2 Benedetto a079 Benjamin 11073 Bing a055 Boyland. e oos Boy~e 8.044 BrenDan a092 Brodsky aOl0 Conte a032 Cook 11142 Corwin a095 Crespo a107 Crouch a063 CUsick a038 Miller, M. 80012 Sa.la.dino .. 052 Millmo.n 8.113 Sayward a132 More.l1e Zll03 Molinaro a029 Scarborough a140 Schimmi:c.ger a060 Hyer-Spencer a015 MOlltesano a016 S(:h.imel 15.145 eeureeeee a04S Cytobrowitz a042 Jacobs a13S De.1Monte a095 J",ffee ibl1£ Destito a034 DenDekker aOS7 Jeffries aOS1. Dinowitz al.31 John a074 Kavanagh aOC4 Eng1ebright a065 Xellne;t a130 Errigo a129 lC:olb .fl072: Espail1at a135 Koon ~l23 Finch aO?l Farrell a025 L~ a013 Lavine aDOS Fields a0"91 Latimer a046 lh:ook-Krasny aDO? Fitzpatrick aC50 lIentQ1 a147 Burl.ing al.17 Butler al01 c<iliill 8.096 Calhoun a043 Camara al06 Csnestrari a026 Carro:zza aOB9 Castelli a096 CastrQ a,1.19 Christensen a033 Clark a047 Colton a0.90 Galef a143 GabryBzak 8.125 Lifton a133 Gantt aC36 Gianaris ,,-0'17 Gibson a149 Giglio .. 066 Glick .10.8 Gordon a07 S Gottfried a098 Gunther a139 Haw1ey a1413 Hayes .a.126 Lupardo al.11 Magee a120 Ml;lgnarel1i aD59 Maisel a030 Markey aO:n Mayersohn a019 McDonough al04 McEne:c.y aC17 McKevitt aOC3 Murray a037 Nolan a126 Qua a064 Si1. ver 1!I.122 Sco2:za'favt!. a137 O'IDLra a069 0 I Donnel.l alOO sjeer-eeeee 1I.051 Ortiz alSO Parme:c.t a011 Sweaney aOS'3 Spano a121 Stirpe aOBS p.,ulin all.O Tedisco 61.41 Peoples· a002 Thiele a023 Pheffer Stokes a061 'l'i tone 8003l. Titus a06B Powell a097 PrAtlow a146 Quinn a097 Robbi tt ,,009 Raia aD06 Ramos a134 Reilicb al09 Rai11y a078 Rivera, J. aOBO Rivera, N. a076 Rivera~ P. a056 Robinson a062 Tobac.co .el054 Towns al1S Townsend a041 Weinstein a{J20 'Weisenberg a024 Weprin, D. a070 Wright a094 Zebrowski a039 a049 Abbate aDOl Alessi 1) Sing-le House Bill (introduced and printed separately in either or both houses}. Uni-Bi1l [introduced simultaneously in both beuaea and printed as one hill. Senate and Assembl.y introd.ucer sign the same copy of the bill) • 2) Circle names of co-sponsors and return to .intrOduction clerk with 2 signed copies of bill and 4 copies of memorandum in support (single house): or 4 Signed copies of bill and 8 copies of memorand'Jlfl in support {uni -bill) . LBDC 03/17/10 05/03/10 2 12220-04-0 1 Section 1. This act enacts into law components of legislation that 2 would enable public employers to offer a temporary retirement incentive 3 to their employees, as well as to provide an age 55/25 years temporary 4 incentive for certain public employees. Each component is wholly 5 contained within a Part identified as Parts A and B. The effective date 6 for each particular provision contained within such Part is set forth in 7 the last section of such part. Any provision in any section contained 8 within a Part, including the effective date of the Part, which makes 9 reference to a section "of this act", when used in connection with that 10 particular component, shall be deemed to mean and refer to the corre- II sponding section of the Part in which it is found., unless noted other- 12 wise. The benefits of this act shall not be applicable to anyone who 13 first became a member of a public retirement system of· the state on or 14 after January first, two thousand ten. 15 S 2. Legislative findings. The legislature finds and declares that the 16 retirement benefits provided for in this act are designed to achieve 17 cost-savings for public employers and to avoid layoffs of public employ- 18 ees in this time of fiscal need. Therefore, the retirement incentive 19 benefit provided for in Part A of this act and the age 55/25 years 20 retirement benefit provided for in Part B of this act are intended only 21 to be temporary in nature for employees who are eligible to receive and 22 qualify for the applicable benefit during the applicable time periods 23 specified within each Part. Further, nothing in this act shall be 24 construed to create an expectation of a future or continuing retirement 25 benefit for any public employee who is not eligible to receive and qual- 26 ify for the retirement benefits in this act during the applicable time 27 periods. 05/03/10 3 12220-04-0 1 PART A 2 Section 1. Definitions. As used in this act, unless the context clear- 3 ly requires otherwise: 4 a. "Retirement system" means the New York state and local employees' 5 retirement system, the New York state teachers' retirement system, the 6 New York city teachers' retirement system, the New York city board of 7 education retirement system or the New York city employees' retirement 8 system, exclusive of the retirement plans established pursuant to 9 sections 13-156 and 13-157 of the administrative code of the city of New 10 York. 11 b. "Teachers' retirement system" means the New York state teachers' 12 retirement system or the New York city teachers' retirement system. 13 c. "Optional retirement program" means the programs established pursu- 14 ant to the provisions of section 181, 391 or 6251 of the education 1aw1 15 or continued pursuant to section 3 of chapter 980 of the laws of 1962. 16 d. "State employer" means (a) the executive branch of the state, (b) 17 the state-operated institutions of the state university of New York, (c) 18 the statutory and contract colleges operated pursuant to section 357 of 19 the education law, (d) the state university construction fund (herein- 20 after referred to in this act as the "fund"), (e) a cooperative exten- 21 sion association (hereinafter referred to in this act as the "associ- 22 ation"), (f) the city university of New York as defined in subdivision 2 23 of section 6202 of the education law, (g) the unified court system, (h) 24 the senate, (i) the assembly, and (j) joint legislative employers. 25 e. (a) "Participating employer" means an employer, other than a state 26 employer, which participates in a retirement system; such term shall 05/03/10 4 12220-04-0 1 include a community college operating under the program of the state 2 university of New York. 3 (b) "Educational employer" means a participating employer which is a 4 school district, a board of cooperative educational services, a voca- 5 tional education and extension board, an institution for the instruction 6 of the deaf and of the blind as enumerated in section 4201 of the educa- 7 tion law, or a school district as enumerated in section 1 of chapter 566 8 of the laws of 1967, as amended. 9 f. "Eligible employee" means a person who is a member of a retirement 10 system or a participant in an optional retirement program who is an 11 employee in the executive branch of a state employer or an employee of a 12 state employer or a participating employer which makes an election under 13 this section or section four of this act, but such term shall not 14 include the following persons: 15 (a) elected officials, judges or justices appointed to or serving in a 16 court of record and acting village justices; 17 (b) chief administrative officers of participating employers which 18 participate in a teachers' retirement system; 19 (c) officers described in sections 4, 4l-a, 46, 61, 70, 70-a, 169 20 (including those officers whose salary is established pursuant to salary 21 plans under subdivision 3 of section 169), 180 and subdivision 1 of 22 section 41 of the executive law and any agency or department head 23 appointed by the governor, comptroller or attorney general; 24 (d) appointed members of boards or commissions any of whose members 25 are appointed by the governor or by another state officer or body; 26 (e) nonjudicial officers and employees of the unified court system 27 unless the chief administrator of the courts elects as provided herein, 28 which election shall cover only nonjudicial officers and employees hold- 05/03/10 5 12220-04-0 ling positions in any title in the classified service of the unified 2 court system~ 3 (f) officers or employees of the senate unless the senate adopts a 4 resolution authorizing the temporary president to file the election as 5 provided in this subdivision~ 6 (g) officers or employees of the assembly unless the assembly adopts a 7 resolution authorizing the speaker of the assembly to file the election 8 as provided in this subdivision~ and 9 (h) officers or employees of joint legislative employers unless: 10 (i) with respect to officers or employees of the legislative library, 11 legislative messenger service, legislative health service, legislative 12 ethics commission, the legislative bill drafting commission, and the 13 joint line of the legislative task force on demographic research and 14 reapportionment, the senate and assembly adopt a concurrent resolution 15 authorizing the temporary president of the senate and the speaker of the 16 assembly to jointly file an election as provided in this subdivision~ 17 (ii) with respect to officers or employees of components of the senate 18 as identified pursuant to section 90 of the legislative law, the senate 19 adopts a resolution authorizing the temporary president to file an 20 election for officers or employees of those components designated in 21 such resolution~ and 22 (iii) with respect to officers or employees of components of the 23 assembly as identified pursuant to section 90 of the legislative law, 24 the assembly adopts a resolution authorizing the speaker of the assembly 25 to file an election for officers or employees of those components desig- 26 nated in such resolution. 27 Any election under paragraphs (e) through (h) of this subdivision to 28 make available the retirement incentive program provided by this act 05/03/10 6 12220-04-0 1 shall be in writing and filed with the state comptroller not later than 2 ninety days after the effective date of this act. Notwithstanding any 3 other provision of this act, each such filing shall specify the 4 commencement date and the length of the open period. Only one open peri- 5 od shall be made available for employees covered by elections under 6 paragraphs (e) through (h) of this subdivision. 7 For the purposes of such paragraphs (f), (g) or (h) of this subdivi- 8 sion, an employee of the legislature shall be as such term is defined in 9 section 7-a, 7-b or 7-d of the legislative law or by any other provision 10 of law which classifies employees of an entity to be legislative employ- 11 ees for all purposes, but shall not include senators or members of the 12 assembly. The term "joint legislative employer" shall mean legislative 13 commissions,cornrnittees, task forces, councils or similar bodies whose 14 membership is comprised of both senators and assembly members, or which 15 consist of commissioners, or the majority of whose membership is 16 appointed by one or more of the following: the temporary president of 17 the senate, the speaker of the assembly, the minority leader of the 18 senate, and/or the minority leader of the assembly. The temporary presi- 19 dent of the senate and the speaker of the assembly shall be the joint 20 legislative employer of the employees of the legislature referred to in 21 sections 7-a and 7-b of the legislative law. 22 g. "Eligible title" means any title where a certain number of posi- 23 tions in that title, as identified by agency, department, work location 24 or appointing authority, college or campus, as the case may be, would 25 otherwise be identified for layoff but for this act because of economy, 26 consolidation or abolition of functions, curtailment of activities or 27 otherwise. However, an eligible title can also include a title as iden- 28 tified by agency, department, work location or appointing authority in 05/03/10 7 12220-04-0 1 which positions would not be eliminated but into which employees in 2 titles affected by layoff can be transferred or reassigned pursuant to 3 the civil service law, rule or regulation. The determination of eligible 4 titles shall be made by: (a) the appointing authority, subject to the 5 approval of the director of state operations for titles within the exec- 6 utive branch, (b) the board of trustees for the state university 7 (including the association) subject to the approval of the director of 8 state operations, the fund, the city university of New York and of each 9 community college operating under the program of the state university, 10 (c) the person or persons who elect under paragraphs (e) through (h) of 11 subdivision f of this section to offer the retirement incentive provided 12 by this act, and (d) the chief executive officer or other comparable 13 official for participating employers other than the community colleges. 14 h. "College faculty" means an employee, not in the classified service, 15 of a state employer described in paragraphs (b), (c), (d), (e) and (f) 16 of subdivision d of this section or of a community college who is a 17 member of a teachers' retirement system, the New York state and local 18 employees' retirement system or a participant in an optional retirement 19 program. 20 1. "Active service" means service while being paid on the payroll, 21 provided that (a) a leave of absence with pay shall be deemed active 22 service; (b) other approved leave without pay not to exceed twelve weeks 23 from February 1, 2010 and the commencement of the designated open peri- 24 od~ and (c) the period of time subsequent to the June 2010 school term 25 and on or before August 31, 2010 for a teacher (or other emplpyee 26 employed on a school-year basis) who is otherwise in active service on 27 February 1, 2010 shall be deemed active service. 05/03/10 8 12220-04-0 1 j. "Open period" means the period beginning with the commencement 2 date as defined in subdivision k of this section and shall not be more 3 than ninety days nor less than thirty days in length, as specified by 4 the director of state operations or by a participating employer pursuant 5 to section four of this act, by the appropriate board of trustees for 6 the state university (including the association), the fund, the city 7 university of New York or a community college operating under a program 8 of the state university or by a state employer described in paragraphs 9 (g), (h), (i) and (j) of subdivision d of this section; provided however 10 that any such period shall not extend beyond September 30, 2010 for the 11 executive branch of a state employer described in paragraphs (a) and (b) 12 of subdivision d of this section (except for college faculty), not 13 beyond December 31, 2010 for participating employers, college faculty 14 for a state employer described in paragraph (b) of subdivision d of this 15 section, state employers described in paragraphs (c), (d) and (e) of 16 subdivision d of this section, not beyond January 31, 2011 for college 17 faculty of an employer described in paragraph (f) of subdivision d of 18 this section, and not beyond August 31, 2010 for educational employers. 19 For the purposes of retirement pursuant to this act, a service retire- 20 ment application must be filed with the appropriate retirement system 21 not less than fourteen days prior to the effective date of retirement to 22 become effective, unless a shorter period of time is permitted under 23 law. 24 k. "Commencement date" means the first day the retirement incentive 25 authorized by this act shall be made available, which shall mean a date 26 on or after the effective date of this act to be determined by the 27 director of state operations for the executive branch of the state, and 28 which date shall occur no later than thirty days before September 30, 05/03/10 9 12220-04-0 1 2010 or for any participating employer a date on or after the effective 2 date of this act. For any other state employer, such term shall mean a 3 date on or after the effective date of this act and shall occur no later 4 than thirty days before September 30, 2010. The director of state oper- 5 ations shall notify the head of the appropriate retirement system of the 6 date of each open period applicable to employees of the executive branch 7 or of a state employer prior to the commencement date. 8 § 2. The determination of whether a title shall be considered eligible 9 shall consider whether the reduction of a specific number of positions 10 within a title would unacceptably: 11 a. Directly result in a reduction of the level of service required or 12 mandated to protect and care for clients of the state or a participating 13 employer or to assure public health and safety; 14 b. Endanger the health or safety of employees of the state or a 15 participating employer; or 16 c. Clearly result in a loss of significant revenue to the state or a 17 participating employer or result in substantially increased overtime or 18 contractual costs. However, upon the determination of the director of 19 state operations, with respect to employees of the executive branch of a 20 state employer, any titles may be determined eligible if the vacancies 21 created can be controlled by the use of transfer or reassignment 22 provisions of the civil service law, rules or regulations or other 23 deployment of state employees. 24 § 3. a. Eligibility for inclusion in the retirement incentive provided 25 by section six of this act shall be determined: (a) by seniority: for 26 participating employers and for state employers described in paragraphs 27 (a), (b), (c), (d), (e) and (f) of subdivision d of section one of this 28 act, other than for college faculty; seniority shall mean the date of 05/03/10 10 12220-04-0 1 original permanent appointment in the civil service of the state 2 adjusted to include veteran's credits for those entitled to receive such 3 credits pursuant to sections 80, 80-a and 85, if applicable, of the 4 civil service law, as established in the official records of the departS ment of civil service, regardless of the jurisdictional classification 6 of the position or the status of the incumbent~ (b) by seniority, as 7 applicable for the unified court system~ (c) for state employers 8 described in paragraphs (h), (i) and (j) of subdivision d of section one 9 of this act as determined by the person or persons who make the election 10 to offer the retirement incentive~ and (d) for college faculty, by the 11 board of trustees of the state university, city university and of each 12 community college operating under the program of the state university. 13 b. All eligible employees serving in eligible titles desiring to avail 14 themselves of the retirement incentive provided by section six of this 15 act shall provide written notice to his or her employer on or before the 16 twenty-first day preceding the end of the open period, or before the end 17 of the applicable open period as such open period is determined by the 18 director of state operations. Failure to provide such written notice 19 shall render the employee ineligible for the retirement incentive 20 provided by this act. 21 § 4. a. On or before August 31, 2010, a participating employer or a 22 state employer described in paragraphs (b), (c), (d), (e) and (f) of 23 subdivision d of section one of this act may elect to provide its 24 employees the retirement incentive authorized by this act by (a) the 25 enactment of a local law or (b) in the case of a participating employer 26 which is not so empowered to act by local law or a state employer 27 described in paragraphs (b), (c), (d), (e) and (f) of subdivision d of 28 section one of this act, by the adoption of a resolution of its govern- 05/03/10 11 12220-04-0 1 ing body; provided however, no local law or resolution enacted pursuant 2 to this section shall in any manner supersede any local charter, 3 provided further, that for an educational employer such election must be 4 made by July 30, 2010. The local law or resolution shall specify the 5 commencement date of the program and the length of the open period. For 6 a community college operating under the program of state university of 7 New York, such election shall be made by the board of trustees of such 8 community college subject to the approval of its sponsor. A copy of such 9 law or resolution shall be filed with the appropriate retirement system 10 or systems, and, if applicable, on forms provided by such system. The 11 local law or resolution shall be accompanied by the affidavit of the 12 chief executive officer or other comparable official certifying to the 13 information contained in subdivision b of this section. 14 b. Notwithstanding any other provision of law, the benefits provided 15 by this act shall not be made available to any person who (a) has 16 received any retirement incentive authorized by any provision of state 17 law, or (b) who receives, has received or is eligible to receive a 18 payment in a lump sum or in another form from a retirement incentive 19 pursuant to the provisions of a collective bargaining agreement or by 20 other arrangement with his or her employer, unless such person files a 21 written statement with his or her employer, a copy of which shall be 22 forwarded to the appropriate retirement system, that he or she agrees to 23 waive any right to such payment. A participating employer who makes an 24 election pursuant to this section and who offers or has offered a 25 retirement incentive pursuant to the provisions of a collective bargain- 26 ing agreement or by other arrangement shall prepare, and file with each 27 retirement system, a list containing the names and social security 28 numbers of all persons described in this subdivision. A participating 05/03/10 12 12220-04-0 1 employer is authorized to exempt persons in its employ from the 2 provisions of paragraph (b) of this subdivision. Such exemption shall be 3 made part of the election made pursuant to this section; provided, 4 however, that such exemption shall not allow any employee who retires 5 under the provisions of chapter 45 of the laws of 2010 to receive a 6 retirement incentive authorized by this act. 7 c. Notwithstanding any other provision of this act to the contrary, 8 the mayor of the city of New York may declare employees of the community 9 colleges of the city university of New York ineligible for the retire- 10 ment incentive provided by this act by filing such notification with the 11 chancellor of the city university of New York, with copies to the chair 12 of the senate finance committee, the chair of the assembly ways and 13 means committee and the director of the budget, in writing, no later 14 than the thirtieth day next succeeding the effective date of this act. 15 S 5. Notwithstanding any other provision of law, any eligible employee 16 serving in an eligible title who: 17 a. has been continuously in the active service of a state employer or 18 of a participating employer from February 1, 2010 to the date immediate- 19 ly prior to the commencement date of the applicable open period; 20 b. files an application for service retirement (or files the appropri- 21 ate application and authorization form with the optional retirement 22 program and a duly acknowledged retirement incentive form for such 23 program with the appropriate personnel office) that is effective during 24 the open period; and 25 c. is otherwise eligible for a service retirement as of the effective 26 date of the application for retirement shall be entitled to the retire- 27 ment incentive provided in section six of this act. If not otherwise 28 eligible for a service retirement, the following person shall be deemed 05/03/10 13 12220-04-0 1 to satisfy the eligibility condition of this section: a person who is at 2 least age fifty with ten or more years service as of the effective date 3 of retirement (other than a member of a retirement plan which provides 4 for half-pay pension upon completion of twenty-five years or less 5 service without regard to age); a member of a retirement plan which 6 provides for half-pay pension upon completion of twenty-five years of 7 service without regard to age who has not accrued, excluding additional 8 credit granted pursuant to this act, the minimum number of years of 9 service required to retire with an allowance equal to fifty percent of 10 final average salary under such plan, but has, with the inclusion of the 11 additional credit provided under this act, accrued such number of years 12 of credit; or a participant in an optional retirement plan at least 13 fifty years of age with ten years of service on an annual salary basis 14 with his or her employer as of the date of retirement. 15 § 6. Notwithstanding any other provision of law, an eligible employee 16 serving in an eligible title who is: 17 a. A member of a retirement system and who is entitled to a retirement 18 incentive pursuant to section five of this act shall receive a retire- 19 ment incentive of one-twelfth of a year of additional retirement credit 20 for each year of pension service credited as of the date of retirement, 21 up to a maximum of three years of retirement service credit at the time 22 of retirement, provided, however, that service credit provided under the 23 provisions of section 902 of the retirement and social security law 24 shall not be included when calculating the additional retirement credit 25 awarded pursuant to this act. For the New York city teachers' retirement 26 system, the New York city employees' retirement system and the New York 27 city board of education retirement system such incentive shall be avail- 05/03/10 14 12220-04-0 1 able for all purposes, including fulfilling the qualifying service 2 requirements of plan A and C, if applicable. 3 An eligible employee who is covered by the provisions of article 15 of 4 the retirement and social security law shall retire under the provisions 5 of article 15 of the retirement and social security law. The amount of 6 such benefit for an eligible employee who is covered by article 15 of 7 the retirement and social security law and retires under the provisions 8 of this section {other than a member with thirty or more years of 9 service in the New York state and local employees' retirement system or 10 a teachers' retirement system} shall be reduced by six percent for each 11 of the first two years by which retirement precedes age sixty-two, plus 12 a further reduction of three percent for each year by which retirement 13 precedes age sixty, provided, however, the foregoing reductions shall 14 not apply: (i) in any case where an eligible employee can retire after 15 twenty-five years of service with immediate payability prior to the age 16 of sixty-two pursuant to section 604-b of the retirement and social 17 security law or (ii) to any time period subsequent to the point at which 18 an eligible employee can retire for service without reduction of his or 19 her service retirement allowance pursuant to article 16 of the retire- 20 ment and social security law. Such reduction shall be prorated for 21 partial years. The amount of such benefit for an eligible employee with 22 thirty or more years of service who is a member of the New York state 23 and local employees' retirement system or a teachers' retirement system 24 or an eligible employee who is a participant in the optional twenty-five 25 year early retirement program for certain New York city members governed 26 by section 604-c of the retirement and social security law, as added by 27 chapter 96 of the laws of 1995 or a twenty-five year participant in the 28 age fifty-five retirement program governed by section 604-i of the 05/03/10 15 12220-04-0 1 retirement and social security law, with twenty-five or more years of 2 service and who is covered by article 15 of the retirement and social 3 security law shall be reduced by five percent for each year by which 4 retirement pursuant to this section precedes age fifty-five. The amount 5 of such benefit for an eligible New York city employee with five or more 6 years of service and who is a participant in the age fifty-seven retire- 7 ment program governed by section 604-d of the retirement and social 8 security law shall be reduced by one-thirtieth for the first two years 9 by which retirement precedes age fifty-seven plus a further reduction of 10 one-twentieth for each year by which retirement precedes age fifty-five. 11 Such reduction shall be prorated for partial years. There shall be no 12 reduction for an eligible New York city employee in a physically taxing 13 position with twenty-five or more years of service and who is a partic- 14 ipant (i) in the optional twenty-five year early retirement program for 15 certain members governed by section 604-c of the retirement and social 16 security law, as added by chapter 96 of the laws of 1995, or (ii) in the 17 age fifty-seven retirement program governed by section 604-d of the 18 retirement and social security law. 19 An eligible employee serving in an eligible title who is covered by 20 article 11 of the retirement and social security law shall retire under 21 the provisions of such article. The amount of such benefit for an eligi- 22 ble employee covered by article 11 of the retirement and social security 23 law other than a member of a teachers' retirement system or a member of 24 the New York state and local employees' retirement system with thirty or 25 more years of service, a participant in the optional age fifty-five 26 improved benefit retirement program for certain New York city employees 27 governed by section 445-d of the retirement and social security law, as 28 added by chapter 96 of the laws of 1995, with twenty-five or more years 05/03/10 16 12220-04-0 1 of service, or a participant in the optional age fifty-five retirement 2 program for New York city teachers and certain other members governed by 3 section 445-i of the retirement and social security law, with twenty- 4 five or more years of service, shall be reduced by six percent for each 5 of the first two years by which retirement pursuant to this section 6 precedes age sixty-two, plus a further reduction of three percent for 7 each year by which retirement pursuant to this section precedes age 8 sixty, provided; however; the foregoing reductions shall not apply: (i) 9 in any case where an eligible employee can retire pursuant to a plan 10 which permits retirement for service with immediate payability, exclu- 11 sive of this act, prior to the age of fifty-five or (ii) to any time 12 period subsequent to the point at which an eligible employee can retire 13 for service without reduction of his or her service retirement allowance 14 pursuant to article 16 of the retirement and social security law. Such 15 reduction shall be prorated for partial years. The amount of such bene- 16 fit for an eligible employee who is a member of a teachers' retirement 17 system or a member of the New York state and local employees' retirement 18 system with thirty or more years of service, a participant in the 19 optional age fifty-five improved benefit retirement program for certain 20 New York city employees governed by section 445-d of the retirement and 21 social security law, as added by chapter 96 of the laws of 1995, with 22 twenty-five or more years of service, or a participant in the optional 23 age fifty-five retirement program for New York city teachers and certain 24 other members governed by section 445-i of the retirement and social 25 security law, with twenty-five or more years of service and who is 26 covered by article 11 of the retirement and social security law shall be 27 reduced by five percent for each year by which retirement pursuant to 28 this section precedes age fifty~five. Such reduction shall be prorated 05/03/10 17 12220-04-0 1 for partial years. There shall be no reduction for an eligible New York 2 city employee in a physically taxing position and who is a participant 3 in the optional age fifty-five improved benefit retirement program for 4 certain New York city employees governed by section 445-d of the retireS ment and social security law, as added by chapter 96 of the laws of 6 1995, with twenty-five or more years of service. 7 An eligible employee serving in an eligible title who is not covered 8 by article 11 or 15 of the retirement and social security law shall 9 retire under the provisions of the plan by which he or she is covered. 10 The amount of such benefit shall be reduced by five percent for each 11 year by which retirement pursuant to this section precedes age fifty- 12 five, provided, however, the foregoing reductions shall not apply: (i) 13 in any caSe where an eligible employee can retire pursuant to a plan 14 which permits retirement for service with immediate payability, exclu- 15 sive of this act, prior to the age of fifty-five or (ii) to any time 16 period subsequent to the point at which an eligible employee can retire 17 for service without reduction of his or her service retirement allowance 18 pursuant to article 16 of the retirement and social security law. Such 19 reduction shall be prorated for partial years. 20 An eligible employee serving in an eligible title who participates in 21 a retirement plan which provides for a retirement allowance equal to 22 fifty percent of final average salary upon the completion of twenty-five 23 years of service without regard to age and who is otherwise eligible to 24 retire shall retire under the provisions of such plan. Such employee 25 shall, at the time of retirement, be credited with one-twelfth of a year 26 of additional retirement service credit for each year of service credit- 27 ed under such plan as of the date of retirement, up to a maximum of 28 three years of retirement service credit, subject to the provisions of 05/03/10 18 12220-04-0 1 subdivision b of this section. If such employee has not accrued, exclud- 2 ing additional credit granted pursuant to this act, the minimum number 3 of years of service required to retire with an allowance equal to fifty 4 percent of final average salary under such plan, but has, with the 5 inclusion of the additional credit provided under this act, accrued such 6 number of years of credit, the benefit payable shall be the percentage 7 of final average salary that would ordinarily be applicable to such 8 individual upon retirement with such amount of credit (including incen- 9 tive credit), reduced by five per centum per year for each year by which 10 the number of years of service otherwise required to retire with an 11 allowance equal to fifty percent of final average salary under such plan 12 exceeds the amount of service credited to such employee under such plan 13 at retirement (excluding the additional retirement incentive service 14 credit provided pursuant to this act). Such reduction shall be prorated 15 for partial years. 16 b. A participant in an optional retirement program who is entitled to 17 a retirement incentive pursuant to section five of this act shall 18 receive an additional employer contribution equal to an amount, which 19 shall be calculated as follows: (one-twelfth for each year of service) 20 multiplied by (fifteen percent) multiplied by (the employee's earnable 21 annual salary rate in effect on March 1, 2010 or the effective date of 22 this act if the employee retires prior to March 1, 2010), such amount 23 not to exceed forty-five percent of such salary rate. Such contribution 24 shall be made to the employee's retirement annuity under the optional 25 retirement program up to the maximum contribution allowable under 26 section 415 of the internal revenue code. Any contribution in excess of 27 that limit shall be contributed by the employer to an internal revenue 28 code section 403(b) contract on behalf of the employee to the extent it 05/03/10 19 12220-04-0 1 can be contributed on a before-tax basis under the maximum limits 2 allowed under the internal revenue code. Contributions in eXCess of that 3 amount shall be paid in cash to the participant in three equal install- 4 ments during a twenty-four month period commencing on such eligible 5 employee's effective date of retirement. Provided, however, if the 6 employee is employed by the city university of New York and in the 7 active service of such employer on October 1, 2010 or the effective date 8 of this act if the employee retires prior to October 1, 2010, the 9 employee's earnable annual salary rate shall be the annual salary rate 10 in effect on such applicable date. 11 § 7. a. An employee' of a state employer, other than the city universi- 12 ty of New York, who retires pursuant to this act may defer calculation 13 of the value of accumulated sick leave credits, if any, and partic- 14 ipation in the state health insurance plan. 15 b. Notwithstanding any other provision of law, any termination payor 16 leave arising from accrued sick leave or accrued annual leave for an 17 eligible employee who has elected the retirement incentive provided by 18 this act and who is a member of the New York city teachers' retirement 19 system employed by the board of education of the city of New York shall 20 be paid in three equal installments during a twenty-four month period 21 commencing on such eligible employee's effective date of retirement. 22 c. An employee of the city of New York or the city university of New 23 York, as defined in subdivision 2 of section 6202 of the education law, 24 who retires under the retirement incentive provided by this act, who is 25 eligible for terminal leave pursuant to an applicable collective 26 bargaining agreement or a personnel policy or rule or retirement leave 27 pursuant to section 3107 of the education law or who has an accrued· 28 annual leave balance on the effective date of retirement shall be paid 05/03/10 20 12220-04-0 1 in three equal installments two months, fourteen months and twenty-four 2 months following such eligible employee's effective date of retirement. 3 § 8. a. With respect to employees of the executive branch of a state 4 employer, any position, other than a position supported by special 5 revenue funds, vacated as a result of an eligible employee in an eligi- 6 ble title receiving the retirement incentive provided by section six of 7 this act shall be eliminated unless such position is identified by the 8 director of state operations as one into which another state employee 9 can be appointed, transferred or reassigned pursuant to the civil 10 service law, rules or regulations, in which case the former position of 11 the state employee so appointed, transferred or reassigned shall be 12 eliminated. 13 b. The director of state operations shall direct the department of 14 civil service to prepare a report designating the title, grade level, 15 salary, and classification, according to appointing authority, (i) of 16 each position which is eliminated pursuant to subdivision a of this 17 section, (ii) of each position into which another state employee was 18 appointed, transferred, or reassigned and the former position of such 19 state employee, and (iii) of each position which is eliminated as a 20 result of an appointment, transfer or reassignment referred to in para- 21 graph (ii) of this subdivision. Such report shall be available no later 22 than ninety days after the last date of the open period related to such 23 positions. 24 § 9. Notwithstanding any inconsistent provision of section eight of 25 this act Or any other provision of law: 26 a. A participating employer or a state employer described in para- 27 graphs (b) through (e) of subdivision d of section one of this act shall 28 not be required to eliminate the positions of eligible employees in 05/03/10 21 12220-04-0 1 eligible titles receiving the retirement incentive provided by section 2 six of this act if such employer can demonstrate that it will achieve a 3 compensation savings such that the total amount of base salary paid for 4 the two-year period subsequent to the effective date of retirement for 5 such eligible employees in eligible titles to those new hires, if any, 6 who otherwise would not have been hired by such employer after the 7 effective date of this act but for the retirement incentive provided 8 herein shall be no more than one-half of the total amount of base salary 9 that would have been paid to such eligible employees from their date of 10 retirement for such two-year period. Each such employer shall make 11 available its plans for achieving these savings. 12 b. The city of New York or the city university of New York, as defined 13 in subdivision 2 of section 6202 of the education law, shall not be 14 required to eliminate the positions of eligible employees in eligible 15 titles receiving the retirement incentive provided by section six of 16 this act if such participating employer can demonstrate that it will 17 achieve a compensation or equivalent headcount savings such that the 18 total amount of compensation including benefits paid for the two-year 19 period subsequent to the effective date of retirement for such eligible 20 employees in eligible titles to those new hires, if any, who otherwise 21 would not have been hired by such employer after the effective date of 22 this act but for the retirement incentive provided herein shall be no 23 more than one-half of the total amount of base salary that would have 24 been paid to such eligible employees from their date of retirement for 25 such two-year period. For purposes of this subdivision, the "city of New 26 York" shall mean the city of New York or a participating employer a 27 majority of the members of whose governing body are: (a) appointed by 28 the mayor of the city of New York or other citywide elected official, a 05/03/10 22 12220-04-0 1 borough president of the city of New York, or any combination thereof; 2 (b) designated by virtue of their city of New York office or position or 3 their office or position with a participating employer whose governing 4 board is described in paragraph (a) of this subdivision; or (c) 5 appointed or designated by any combination-of the foregoing. Each such 6 employer shall make available its plans for achieving these savings. 7 c. To the extent any transfer of personnel between the state employer 8 described in paragraph (a) of subdivision d of section one of this act 9 and the state employer described in paragraph (b) of subdivision d of 10 section one of this act occurs pursuant to a voluntary transfer of state 11 personnel, or otherwise, the provisions of subdivision a of this section 12 with respect to achieving savings shall be applicable. Nothing herein 13 shall be construed to impair the authority of the director of state 14 operations pursuant to subdivision g of section one or section two of 15 this act. 16 § 10. Nothing in this act shall be used to provide benefits that shall 17 exceed the limits contained in section 415 of the internal revenue code. 18 Provided, however, any service retirement benefit which has been reduced 19 because of section 415 of the internal revenue code shall be increased 20 when (and consistent with) the dollar limits in section 415 of the 21 internal revenue code are adjusted by the internal revenue service for 22 cost of living increases. Such increases shall not increase the benefit 23 in excess of the service retirement benefit otherwise payable. 24 § 11. Any eligible employee who retires pursuant to the provisions of 25 this act and enters or reenters public service as defined in subdivision 26 e of section 210 of the retirement and social security law and joins or 27 rejoins any public retirement system of the state as defined in subdivi- 28 sion 6 of section 152 of the retirement and social security law or 05/03/10 23 12220-04-0 1 elects to participate in an optional retirement program shall if the 2 additional benefit was provided pursuant to: (a) subdivision a of 3 section six of this act, forfeit the additional benefit authorized by 4 this act at the time of his or her subsequent retirement; or (b) subdi- 5 vision b of section six of this act, repay to the state or participating 6 employer such additional contribution together with the appropriate 7 interest as determined by the state comptroller. 8 § 12. Notwithstanding any other provision of law, if the service 9 retirement benefit of a member of a retirement system is subject to a 10 maximum retirement benefit, the additional benefit authorized by this 11 act will be computed by multiplying the final average salary times the 12 number of years of service credit granted by section six of this act 13 times the benefit fraction of the plan under which such member retires. 14 § 13. The provisions of section 430 of the retirement and social secu- 15 rity law shall not apply to any benefit or benefit improvement provided 16 by this act. 17 § 14. The pension benefit costs of subdivision a of section six of 18 this act shall be paid by employers as provided by applicable law for 19 each retirement system covered by this act over a period not to exceed 20 five years commencing in the state fiscal year ending March 31, 2012. 21 § 15. Where an employee is eligible to receive the benefit authorized 22 under section six and the retirement benefit provided for under section 23 five of part B of the chapter of the laws of 2010 which added this part, 24 such employee may elect a section under which he or she will partic- 25 ipate. Any other provision of this act or any other law to the contrary 26 notwithstanding, an employee eligible for the retirement benefit under 27 chapter 45 of the laws of 2010 and otherwise eligible to receive the 28 benefit provided under section six of this act shall not be eligible to 05/03/10 24 12220-04-0 1 receive the benefit authorized under section six of this act unless such 2 employee elects to receive such benefit in lieu of the benefit under 3 chapter 45 of the laws of 2010. In no event shall the benefits provided 4 for in section six of this act be received by any employee in conjunc- 5 tion with the benefits of section five of part B of this act or the 6 benefits of chapter 45 of the laws of 2010. 7 § 16. This act shall take effect immediately. 8 PART B 9 Section 1. Definitions. As used in this act, unless the context clear- 10 ly requires otherwise: 11 a. "Retirement system" means the New York state and local employees' 12 retirement system, the New York state teachers' retirement system, the 13 New York city teachers' retirement system, the New York city board of 14 education retirement system or the New York city employees' retirement 15 system, exclusive of the retirement plans established pursuant to 16 sections 13-156 and 13-157 of the administrative code of the city of New 17 York. 18 b. "Teachers' retirement system" means the New York state teachers' 19 retirement system or the New York city teachers' retirement system. 20 c. "State employer" means (a) the executive branch of the state, (b) 21 the state-operated institutions of the state university of New York, (c) 22 the statutory and contract colleges operated pursuant to section 357 of 23 the education law, Cd) the state university construction fund (herein- 24 after referred to in this act as the "fund"), (e) a c06perative exten- 25 sion association (hereinafter referred to in this act as the "associ- 26 ation"), and (f) the city university of New York as defined in 05/03/10 25 12220-04-0 1 subdivision 2 of section 6202 of the education law, (g) the unified 2 court system, (h) the senate, (i) the assembly, and (j) joint legisla- 3 tive employers. 4 d. (a) "participating employer" means an employer, other than a state 5 employer, which participates in a retirement system; such term shall 6 include a community college operating under the program of state univer- 7 sity of New York. 8 (b) "Educational employer" means a participating employer which is a 9 school district, a board of cooperative educational services, a voca- 10 tional education and extension board, an institution for the instruction 11 of the deaf and of the blind as enumerated in section 4201 of the educa- 12 tion law, or a school district as enumerated in section 1 of chapter 566 13 of the laws of 1967, as amended. 14 e. "Eligible employee" means a person who is a member of a retirement 15 system who is an employee in the executive branch of a state employer or 16 an employee of a state employer or a participating employer who has 17 attained age fifty-five and has at least twenty-five years of creditable 18 service in a retirement system, but such term shall not include the 19 following persons: 20 (a) elected officials, judges or justices appointed to or serving in 21 court of record and acting village justices; 22 (b) chief administrative officers of participating employers which 23 participate in a teachers' retirement system; 24 (c) officers described in sections 4, 41-a, 46, 61, 70, 70-a, 169 25 (including those officers whose salary is established pursuant to salary 26 plans under subdivision 3 of section 169), 180 and subdivision 1 of 27 section 41 of the executive law and any agency or department head 28 appointed by the governor, comptroller or attorney general; 05/03/10 26 12220-04-0 1 (d) appointed members of boards or commissions any of whose members 2 are appointed by the governor or by another state officer or body, 3 (e) nonjudicial officers and employees of the unified court system 4 unless the chief administrator of the courts elects as provided herein, 5 which election shall cover only nonjudicial officers and employees hold- 6 ing positions in any title in the classified service of the unified 7 court system; 8 (f) officers or employees of the senate unless the senate adopts a 9 resolution authorizing the temporary president to file the election as 10 provided in this subdivision, 11 (g) officers or employees of the assembly unless the assembly adopts a 12 resolution authorizing the speaker of the assembly to file the election 13 as provided in this subdivision, and 14 (h) officers or employees of joint legislative employers unless: 15 (i) with respect to officers or employees of the legislative library, 16 legislative messenger service, legislative health service, legislative 17 ethics committee, the legislative bill drafting commission, and the 18 joint line of the legislative task force on demographic research and 19 reapportionment, the senate and assembly adopt a concurrent resolution 20 authorizing the temporary president of the senate and the speaker of the 21 assembly to jointly file an election as provided in this subdivision, 22 (ii) with respect to officers or employees of components of the senate 23 as identified pursuant to section 90 of the legislative law, the senate 24 adopts a resolution authorizing the temporary president to file an 25 election for officers or employees of those components designated in 26 such resolution; and 27 (iii) with respect to officers or employees of components of the 28 assembly as identified pursuant to section 90 of the legislative law, 05/03/10 27 12220-04-0 1 the assembly adopts a resolution authorizing the speaker of the assembly 2 to file an election for officers or employees of those components desig- 3 nated in such resolution. 4 Any election under paragraphs (e) through (h) of this subdivision to 5 make available the retirement incentive provided by this act shall be in 6 writing and filed with the state comptroller not later than ninety days 7 after the effective date of this act. Notwithstanding any other 8 provision of this act, each such filing shall specify the commencement 9 date of the open period. 10 For the purposes of such paragraph (f), (g) or (h) of this subdivi- 11 sion, an employee of the legislature shall be as such term is defined in 12 section 7-a, 7-b or 7-d of the legislative law or by any other provision 13 of law which classifies employees of an entity to be legislative employ- 14 ees for all purposes, but shall not include senators or members of the 15 assembly. The term "joint legislative employer" shall mean legislative 16 commissions, committees, task forces, councils or similar bodies whose 17 membership is comprised of both senators and assembly members, or which 18 consist of commissioners, or the majority of whose membership is 19 appointed by one or more of the following: the temporary president of 20 the senate, the speaker of the assembly, the minority leader of the 21 senate, and/or the minority leader of the assembly. The temporary pres i- 22 dent of the senate and the speaker of the assembly shall be the joint 23 legislative employer of the employees of the legislature referred to in 24 sections 7-a and 7-b of the legislative law. 25 f. "College faculty" means an employee, not in the classified service, 26 of a state employer described in paragraphs (b), (c), (d), (e) and (f) 27 of subdivision c of this section or of a community college who is a 05/03/10 28 12220-04-0 1 member of a teachers' retirement system, or the New York state and local 2 employees' retirement system. 3 g. "Active service" means service while being paid on the payroll, 4 provided that (a) a leave of absence with pay shall be deemed active 5 service; (b) other approved leave without pay not to exceed twelve weeks 6 from February 1, 2010 and the commencement of the designated open peri- 7 od; and (c) the period of time subsequent to the June 2010 school term 8 and on or before August 31, 2010 for a teacher (or other employee 9 employed on a school-year basis) who is otherwise in active service on 10 the effective date of this act shall be deemed active service. 11 h. "Open pe;riod" means the period beginning with the commencement date 12 as defined in subdivision i of this section and shall be ninety days in 13 length; provided however that there shall be only one such open period 14 and any such period shall not extend beyond September 30, 2010 for a 15 state employer and December 31, 2010 for a participating employer. For 16 the purposes of retirement pursuant to this act, a service retirement 17 application must be filed with the appropriate retirement system not 18 less than fourteen days prior to the effective date of retirement to 19 become effective, unless a shorter period of time is permitted under 20 law. 21 i. "Commencement date" means the first day the retirement benefit 22 mandated by this act shall be made available, which shall mean a date or 23 dates on or after the effective date of this act to be determined by the 24 director of state operations for the executive branch of the state, or 25 for any other state employer or any participating employer which elects 26 to participate pursuant to section three of this act a date on or after 27 the effective date of this act; provided, however, that for an educa- 28 tional employer which elects to participate pursuant to section three of 05/03/10 29 12220-04-0 1 this act, the commencement date shall be June 1, 2010, and provided, 2 further that for participating employers which elect to participate 3 pursuant to section three of this act, except the city of New York and 4 participating employers which are not empowered to act by local law, the 5 commencement date shall be October 1, 2010. The director of state oper- 6 ations shall notify the head of the appropriate retirement system of the 7 date of the open period applicable to employees of the executive branch 8 or of a state employer prior to the commencement date. 9 § 2. a. A state employer which elects to participate pursuant to 10 section three of this act, participating employer which is not empowered 11 to act by local law which elects to participate pursuant to section 12 three of this act, or the city of New York, if it elects to participate 13 pursuant to section three of this act shall establish a commencement 14 date for the retirement benefit established under section five of this 15 act in the following manner: (a) for the executive branch, the director 16 of state operations shall establish the commencement date in writing to 17 the appropriate retirement system, (b) for state employers described in 18 paragraphs (b), (c), (d), (e) and (f) of subdivision c of section one of 19 this act and participating employers that are not empowered to act by 20 local law, its governing body shall adopt a resolution establishing a 21 commencement date, (c) for state employers described in paragraphs (g), 22 (h), (i) and (j) of subdivision c of section one of this act, the person 23 or persons who make the election to offer the retirement incentive 24 pursuant to part A of the chapter of the laws of 2010 which added this 25 part shall establish a commencement date in writing to the appropriate 26 retirement system; and (d) for the city of New York, the chief executive 27 officer shall issue an executive order establishing the commencement 28 date, provided, however, no executive order, in the case of the city of 05/03/10 30 12220-04-0 1 New York issued pursuant to this section, shall in any manner supersede 2 any local charter. A copy of any such resolution or executive order in 3 the case of the city of New York establishing a commencement date shall 4 be filed with the appropriate retirement system or systems, and, if 5 applicable, on forms provided by such system. The resolution or execu- 6 tive order in the case of the city of New York shall be accompanied by 7 the affidavit of the chief executive officer or other comparable offi- 8 cial certifying the commencement date. 9 b. A state employer, participating employer which is not empowered to 10 act by local law which elects to participate pursuant to section three 11 of this act, or the city of New York if it elects to participate pursu- 12 ant to section three of this act shall be required to establish a 13 commencement date under paragraph a of this subdivision for the retire- 14 ment benefit established under section five of this act. In the event 15 that a state employer, participating employer which is not empowered to 16 act by local law which elects to participate pursuant to section three 17 of this act, or the city of New York if it elects to participate pursu- 18 ant to section three of this act fails to establish a commencement date 19 for the retirement benefit established under section five of this act, 20 the commencement date for the eligible employees of a state employer 21 shall be July 1, 2010. The commencement date for the eligible employees 22 of all other employers referenced in this subdivision shall be September 23 1, 2010. 24 S 3. On or before September 1, 2010, a participating employer or a 25 state employer described in paragraphs (b), (c), (d), (e) and (f) of 26 subdivision c of section one of this act may elect to provide its 27 employees the retirement incentive authorized by this act by (a) the 28 enactment of a local law or (b) in the case of a participating employer 05/03/10 31 12220-04-0 1 which is not so empowered to act by local law or a state employer 2 described in paragraphs (b), (c), (d), (e) and (f) of subdivision c of 3 section one of this act, by the adoption of a resolution of its govern- 4 ing body; provided however, no local law or resolution enacted pursuant 5 to this section shall in any manner supersede any local charter, 6 provided further, that for an educational employer such election must be 7 made by June 1, 2010. The local law or resolution shall specify the 8 commencement date of the program and the length of the open period. For 9 a community college operating under the program of state university of 10 New York, such election shall be made by the board of trustees of such 11 community college subject to the approval of its sponsor. A copy of such 12 law or resolution shall be filed with the appropriate retirement system 13 or systems, and, if applicable, on forms provided by such system. The 14 local law or resolution shall be accompanied by the affidavit of the 15 chief executive officer or other comparable official certifying the 16 validity of such local law or resolution. 17 § 4. Notwithstanding any other provision of law, any eligible employee 18 serving in an eligible title who (a) has been continuously in the active 19 service of a state employer or of a participating employer from February 20 I, 2010 to the date immediately prior to the commencement date of the 21 applicable open period, (b) files an application for service retirement 22 that is effective during the open period, and (c) is otherwise eligible 23 for a service retirement as of the effective date of the application for 24 retirement shall be entitled to the retirement benefit provided in 25 section five of this act. 26 § 5. a. Notwithstanding any other provision of law, an eligible 27 employee who is: (a) a member of a retirement system and (b) who is 28 entitled to a retirement benefit pursuant to section four of this act 05/03/10 32 12220-04-0 1 may retire during the open period without the reduction of his or her 2 retirement benefit that would otherwise be imposed by article 11 or 15 3 of the retirement and social security law if he or she has attained the 4 age of fifty-five and has completed at least twenty-five or more years 5 of creditable service. An eligible employee who is covered by the 6 provisions of articles 11 and 15 of the retirement and social security 7 law shall retire under the provisions of articles 11 and 15 of the 8 retirement and social security law. 9 b. The director of state operations, the chief executive officer of 10 the city of New York, or chief executive officer or governing board, as 11 appropriate, of the participating employer may deny participation in the 12 retirement benefit provided by subdivision a of this section if the 13 director of state operations, the chief executive officer of New York 14 city or the chief executive officer or governing board of the partic- 15 ipating employer makes a determination that the employee holds a posi- 16 tion that is deemed critical to the maintenance of public health and 17 safety. 18 c. Where an employee is eligible for the retirement benefit under this 19 section and the retirement incentive authorized pursuant to section six 20 of part A of the chapter of the laws of 2010 which added this part, such 21 employee shall elect a section under which he or she will participate. 22 The benefits provided by subdivision a of this section shall not be 23 conditioned upon a state or participating employer making the benefits 24 of section six of part A of this act available to employees in their 25 employ. Further, the benefits provided by subdivision a of this section 26 shall not be available in conjunction with the benefits of section six 27 of part A of the chapter of the laws of 2010 which added this part. 05/03/10 33 12220-04-0 1 d. The action of the director of state operations, the chief executive 2 officer of the city of New York, or chief executive officer or governing 3 board, as appropriate, of the participating employer in denying the 4 retirement benefit provided for in subdivision a of this section to any 5 individual shall be subject to review in the manner provided for in 6 article 78 of the civil practice law and rules. Such action for review 7 pursuant to article seventy-eight of the civil practice law and rules 8 shall only be commenced by the individual that was denied the retirement 9 benefit provided by subdivision a of this section. 10 e. After making any such determination under subdivision b of this 11 section, the director of state operations, the chief executive officer 12 of the city of New York and the chief executive officer or governing 13 board, as appropriate, of the participating employer shall notify the 14 appropriate retirement system or teachers' retirement system of its 15 determination. 16 S 6. The pension benefit costs of section five of this act shall be 17 paid by employers as provided by applicable law for each retirement 18 system covered by this act over a period not to exceed five years 19 commencing in the state fiscal year ending March 31, 2012. 20 S 7. This act shall take effect immediately. 21 S 3. Severability clause. If any clause, sentence, paragraph, subdivi- 22 sion, section or part of this act shall be adjudged by any court of 23 competent jurisdiction to be invalid, such judgment shall not affect, 24 impair, or invalidate the remainder thereof, but shall be confined in 25 its operation to the clause, sentence, paragraph, subdivision, section 26 or part thereof directly involved in the controversy in which such judg- 27 ment shall have been rendered. It is hereby declared to be the intent of 05/03/10 34 12220-04-0 1 the legislature that this act would have been enacted even if such 2 invalid provisions had not been included herein. 3 § 4. This act shall take effect irnmediately~ provided, however, that 4 the applicable effective date of Parts A and B of this act shall be as 5 specifically set forth in the last section of such Parts. FISCAL NOTE. -- Pursuant to Legislative Law, Section 50: This bill would provide additional service credit (one-twelfth of a year for each year of non-sick leave, non-Article 19 service credited as of the date of retirement, up to a maximum of three years) for certain members of the New York State and Local Employees' Retirement System, New York State Teachers' Retirement System, New York City Teachers' Retirement System, New York City Board of Education and the New York City Employees' Retirement System. Further, for certain members who are not otherwise eligible for a service retirement benefit, this bill would provide the ability to retire with reductions. This benefit would be available to only targeted positions. In addition, this bill would eliminate the early retirement reductions at 25 years of service instead of at 30 years of service for retirement during a specified 90 day period for Tier 2, 3 and 4 members of the New York State and Local Employees' Retirement System, New York State Teachers' Retirement System, New York City Teachers' Retirement System, New York City Board of Education and the New York City Employees' Retirement System. Employers electing this provision can declare health and safety positions to be ineligible. Retiring members may not receive both the additional service credit and the elimination of the early retirement reductions at 25 years of service instead of at 30 years of service. 05/03/10 35 12220-04-0 If this bill is enacted, insofar as it affects the New York State and Local Employees' Retirement System (ERS), the additional cost for each member who receives these benefits will vary depending on the member's age, years of service, plans and final average salary. We anticipate that the per-member cost (at retirement) of the additional service credit benefit will average approximately 60% of a member's final average salary. This cost will be borne by each employer electing the incentive over a five-year period commencing with a payment in the State fiscal year 2011-2012. We anticipate that the per-member cost (at retirement) of the elimination of the early retirement reductions at 25 years of service instead of at 30 years of service will average approximately 110% of a member's final average salary. This cost will be borne by each employer electing the incentive over a five-year period commencing with a payment in the State fiscal year 2011-2012. This estimate, dated April 30, 2010, and intended for use only during the 2010 Legislative Session, is Fiscal Note No. 2010-157 prepared by the Actuary for the New York State and Local Employees' Retirement System. FISCAL NOTE. -- Pursuant to Legislative Law, Section 50: This bill would provide a temporary retirement incentive for fiscal year 2010-2011. In Part A of the retirement incentive, employers who elect to participate would provide certain eligible employees a retirement incentive of one-twelfth of a year of additional service credit per year of accrued service credit up to a maximum of three additional years. To be eligible, a member must have attained age 50 or greater, with at least ten years of service. Members not subject to an early 05/03/10 36 12220-04-0 retirement reduction and less than age 55 at retirement will have their benefit reduced by five percent for each year their age precedes 55. Part B of the retirement incentive would permit eligible Tier 2, 3 and 4 members of employers who elect to participate to retire without early retirement reductions upon attainment of at least age 55 with 25 years of service. Currently 30 years of service are required. In order to receive either the Part A or Part B benefit, an eligible member of an employer who has elected to participate must retire during the employer's designated open period. For Part A, such period shall be at least 30, but not more than 90 days in length, and for educational employers, shall not extend beyond August 31, 2010. For Part S, the open period shall be 90 days in length, and for educational employers shall begin on June 1, 2010. Members may not receive a benefit under both Part A and Part S, or Part A and the retirement incentive provided under Chapter 45 of the Laws of 2010. Employers participating in Part A or Part B (or both) would pay the cost of the retirement incentive over a period not to exceed five years, beginning in the state fiscal year ending March 31, 2012. It is not possible to accurately forecast the total cost to the New York State Teachers' Retirement System employers electing to participate in this retirement incentive because the number of eligible members electing to retire under the incentive, their ages and the amount of service credited cannot be readily estimated. The Part A cost, measured as the increase in the present value of benefit per participating member, however, will range from 5% to more than 100% of final average salary, averaging between 50% and 75% of final average salary, depending on the member's age, years of service, and tier at retirement. The Part B cost per participating member will range from 3% to more than 100% of 05/03/10 37 12220-04-0 final average salary, depending on the member's age, years of service, and tier at retirement. The potential number of members eligible to benefit under Part A is much greater than under Part B. The source of this estimate is Fiscal Note 2010-49 dated April 30, 2010 prepared by the Actuary of the New York State Teachers' Retirement System and is intended for use only during the 2010 Legislative Session. More From This UserSkip carouselEducation RegionalBrookwood Lbd-2017 (1)Drinking Water Systems2017 02 10 Smith Statement Final2017 02 10 Greenberg Statement Final 22017_02_10_smith_statement_final.pdf2017_02_10_greenberg_statement_final_2.pdfRHC Framework (1)Spence Letter to BrateGpb #3 - Pef-mc Pay Bill - MemoGpb #3 - Pef-mc Pay Bill - BillProtect Adirondacks Summary-Judgment-Decision.pdfPension 2017-02-01-Risk Taking AppropriatenessS1114AS1114AContraceptive LetterGuidance.concerning.local .Authority.particpation.in .Immigration.enforcement.1.19.174th Qtr 2016 Summary Data2Tioga Downs Casino Monthly Website ReportMedicareRevenue Growth 16annreport (1)Squadron Child CareEmpireExodusContinues.printEmpireExodusContinues.printEmpireExodusContinues.print
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