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NY S07363
Bill
Status
4/22/2016
Primary Sponsor
Fred Akshar
Click for details
AI Summary
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Grants Luke Parga tier IV status in the New York State and Local Employees' Retirement System with a membership date of February 8, 2006, retroactively changing his current tier V status.
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Requires Parga to file an application with the state comptroller by December 31 of the year this act becomes law to claim tier IV benefits and rights.
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The state of New York shall bear all past service costs, estimated at approximately $8,110 as a one-time payment and an annual contribution increase of approximately $1,300 for fiscal year 2017.
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Parga's previous contributions to the retirement system shall not be refunded or refunded to him under this act.
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Takes effect immediately upon enactment.
Legislative Description
Relates to tier IV retirement benefits for Luke Parga; accords him tier IV benefits due to his past employment in 2006.
Last Action
SUBSTITUTED BY A3160A
6/16/2016