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NY S08327
Bill
Status
6/23/2010
Primary Sponsor
Joseph Addabbo
Click for details
AI Summary
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Court reporters employed by the unified court system may retire without benefit reduction upon attainment of age 55 and completion of 25 or more years of service (applies to Tiers 2, 3, 4, and 5)
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Tier 5 court reporters stop paying 3% member contributions to the retirement system after 10 years of service credit
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Costs of approximately $220,000 in annual state contributions for fiscal year 2011 plus a one-time past service cost of approximately $9.64 million are borne by the unified court system
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Affects approximately 1,062 court reporters with estimated annual salaries totaling $100 million
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Act takes effect immediately except for certain provisions subject to expiration and reversion under existing law
Legislative Description
Provides for a 25 year retirement plan for Tier 2, Tier 3 and Tier 4 court reporters employed by the unified court system upon attainment of age 55; provides that the costs will be borne by the unified court system.
Last Action
REFERRED TO RULES
6/23/2010