Bill Text: NY S04945 | 2009-2010 | General Assembly | Introduced

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Bill Title: Authorizes the establishment by school districts and boards of cooperative educational services of retirement contribution reserve funds for the purposes of making contributions to the New York state teachers' retirement system.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-05-18 - REPORTED AND COMMITTED TO FINANCE [S04945 Detail]

Download: New_York-2009-S04945-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4945
                              2009-2010 Regular Sessions
                                   I N  S E N A T E
                                    April 27, 2009
                                      ___________
       Introduced  by  Sen.  OPPENHEIMER -- read twice and ordered printed, and
         when printed to be committed to the Committee  on  Civil  Service  and
         Pensions
       AN  ACT  to  amend the general municipal law, in relation to authorizing
         school districts and boards of  cooperative  educational  services  to
         establish  retirement  contribution  reserve funds for the purposes of
         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:
    1    Section  1.  Paragraphs b and c of subdivision 1 of section 6-r of the
    2  general municipal law, as added by chapter 260 of the laws of 2004,  are
    3  amended to read as follows:
    4    b.  "Participating  employer"  means:  (I) a participating employer as
    5  defined in subdivision twenty of  section  two  of  the  retirement  and
    6  social  security  law  or in subdivision twenty of section three hundred
    7  two of such law; OR (II) AN EMPLOYER AS DEFINED IN SUBDIVISION THREE  OF
    8  SECTION FIVE HUNDRED ONE OF THE EDUCATION LAW.
    9    c.  "Retirement  contribution"  shall  mean  all or any portion of the
   10  amount payable by a municipal corporation to: (I) either  the  New  York
   11  state  and  local employees' retirement system or the New York state and
   12  local police and fire retirement system pursuant to section seventeen or
   13  three hundred seventeen of the retirement and social  security  law;  OR
   14  (II)  THE NEW YORK STATE TEACHERS' RETIREMENT SYSTEM PURSUANT TO SECTION
   15  FIVE HUNDRED TWENTY-ONE OF THE EDUCATION LAW.
   16    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01718-01-9