Bill Text: NY A02341 | 2009-2010 | General Assembly | Amended
Bill Title: Entitles Tier I members with membership dates on or after 4/1/72 and all Tier II members of the NYS&LERS or the NYS&LPFRS to receive credit for up to thirty days of unused accumulated vacation time in the calculation of their final average salary.
Spectrum: Partisan Bill (Democrat 16-0)
Status: (Introduced - Dead) 2010-01-19 - print number 2341a [A02341 Detail]
Download: New_York-2009-A02341-Amended.html
S T A T E O F N E W Y O R K
________________________________________________________________________
2341--A
2009-2010 Regular Sessions
I N A S S E M B L Y
January 15, 2009
___________
Introduced by M. of A. McENENY, CANESTRARI, WEISENBERG, BRODSKY --
Multi-Sponsored by -- M. of A. CAHILL, CLARK, COLTON, CYMBROWITZ,
DelMONTE, JACOBS, JOHN, MAGEE, ORTIZ, PHEFFER, J. RIVERA -- read once
and referred to the Committee on Governmental Employees -- recommitted
to the Committee on Governmental Employees in accordance with Assembly
Rule 3, sec. 2 -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the retirement and social security law, in relation to
the computation of final average salary
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivisions a and b of section 443 of the retirement and
2 social security law, subdivision a as amended and subdivision b as added
3 by chapter 379 of the laws of 1986, are amended to read as follows:
4 a. The salary base used for the computation of benefits upon retire-
5 ment, hereinafter called in this article final average salary, applica-
6 ble to all members of the retirement systems who are subject to the
7 provisions of this article, shall be the average salary earned by such a
8 member during any three consecutive years which provide the highest
9 average salary, exclusive of any form of termination pay (which shall
10 include any compensation in anticipation of retirement), or any lump sum
11 payment for deferred compensation, sick leave, or ANY accumulated vaca-
12 tion credit IN EXCESS OF THIRTY DAYS, or any other payment for time not
13 worked (other than compensation received while on sick leave or author-
14 ized leave of absence); provided, however, if the salary or wages earned
15 during any year included in the period used to determine final average
16 salary exceeds that of the average of the previous two years by more
17 than twenty [percentum] PER CENTUM, the amount in excess of twenty
18 [percentum] PER CENTUM shall be excluded from the computation of final
19 average salary. Where the period used to determine final average salary
20 is the period which immediately precedes the date of retirement, any
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00523-03-0
A. 2341--A 2
1 month or months (not in excess of twelve) which would otherwise be
2 included in computing final average salary but during which the member
3 was on authorized leave of absence at partial pay or without pay shall
4 be excluded from the computation of final average salary and the month
5 or an equal number of months immediately preceding such period shall be
6 substituted in lieu thereof.
7 b. Notwithstanding the provisions of subdivision a of this section,
8 with respect to the members of the New York state AND LOCAL employees'
9 retirement system and New York state [policemen's and firemen's] AND
10 LOCAL POLICE AND FIRE retirement system, the final average salary, shall
11 be equal to one-third of the highest total salary earned during any
12 continuous period of employment for which the member was credited with
13 three years of service credit, exclusive of any form of termination pay
14 (which shall include any compensation in anticipation of retirement),
15 any lump sum payment for deferred compensation, sick leave, or ANY accu-
16 mulated vacation credit IN EXCESS OF THIRTY DAYS, or any other payment
17 for time not worked (other than compensation received while on sick
18 leave or authorized leave of absence); provided, however, if the salary
19 earned during any year of credited service included in the period used
20 to determine final average salary exceeds the average of the salaries of
21 the previous two years of credited service by more than twenty per
22 centum, the amount in excess of twenty per centum shall be excluded from
23 the computation of final average salary.
24 S 2. Subdivision 1 of section 431 of the retirement and social securi-
25 ty law, as added by chapter 503 of the laws of 1971, is amended to read
26 as follows:
27 1. lump sum payments for deferred compensation, sick leave, ANY accu-
28 mulated vacation IN EXCESS OF THIRTY DAYS or other credits for time not
29 worked,
30 S 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill will allow Tier 1 members with membership dates on or after
April 1, 1972, and all Tier 2 members of the New York State and Local
Employees' Retirement System (NYSLERS) or the New York State and Local
Police and Fire Retirement System (NYSLPFRS) to receive credit for up to
thirty (30) days of unused accumulated vacation time in the calculation
of their final average salary.
Insofar as this bill will affect employers in the NYSLERS, if this
bill is enacted, there will be an estimated increase in the annual
contributions of the State of New York of approximately $11 million and
$16 million to the participating employers in the NYSLERS. Insofar as
this bill would affect the NYSLPFRS, there will also be an estimated
increase in the annual contributions of approximately $8.0 million to
the State of New York and $38 million to the participating employers in
the NYSLPFRS.
This estimate, dated December 11, 2009 and intended for use only
during the 2010 Legislative Session, is Fiscal Note No. 2010-18,
prepared by the Actuary for the New York State and Local Employees'
Retirement System and the New York State and Local Police and Fire
Retirement System.
