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NY A08486
Bill
Status
11/21/2014
Primary Sponsor
Sean Ryan
Click for details
AI Summary
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Members and retirees of the New York state and local employees' retirement system who obtained service credit after March 31, 1974 with the Niagara Frontier Transit Metro System, Inc. remain eligible to retain that service credit.
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Retirement or death benefits payable by the state system shall be reduced by the amount of non-forfeitable benefits received from the Amalgamated Transit Union Local 1342 -- Niagara Frontier Transit Metro System Pension Fund.
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For current retirees, the benefit reduction shall be retroactive to their effective retirement date.
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The bill takes effect immediately with no cost to the State or participating employers in the retirement system.
Legislative Description
Relates to service credit of certain members of the New York state and local employees' retirement system who obtained credit for service with the Niagara Frontier Transit Metro System, Inc.; provides that any retirement or death benefit payable or paid by such retirement system shall be reduced by the amount of the non-forfeitable benefit payable or paid for such service under the Amalgamated Transit Union Local 1342 - Niagara Frontier Transit Metro System Pension Fund.
Last Action
signed chap.442
11/21/2014