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NY S07599

Bill

Official Source

Status

Introduced

6/6/2012

Primary Sponsor

Martin Golden

Click for details

Origin

Senate

2011-2012 General Assembly

AI Summary

  • Transfers authority to appoint the actuary for police pension funds from the defunct Board of Estimate to the Board of Trustees administering the police pension funds
  • Actuary serves as technical adviser to the board on all matters regarding operation of police pension funds and performs other required duties
  • Actuary must conduct actuarial investigations every five years into mortality, service, and compensation experience of fund members and beneficiaries
  • Actuary must make annual valuations as of June 30th of assets and liabilities of the various funds
  • Becomes effective immediately upon enactment with no estimated cost to the Police Pension Fund

Legislative Description

Provides for appointment of an actuary by the board of trustees tasked with administering police pension funds, as opposed to the board of estimate.

Last Action

REFERRED TO CITIES

6/6/2012

Committee Referrals

Cities6/6/2012

Full Bill Text

No bill text available