Authorizes Carl Spatola to receive a refund from the New York state teachers' retirement system due to overpayment.
Summary
This bill is a private, individualized retirement measure for Carl Spatola, a Tier 4 member of the New York State Teachers’ Retirement System (NYSTRS). It authorizes him to receive a refund of accumulated 3% member contributions that were paid during a period when his transfer from the New York City Teachers’ Retirement System to NYSTRS had been initiated but the cessation date had not yet been established. The refund is available only if he files an application within one year of the bill’s effective date.
The bill also specifies that the costs of implementing the act are to be borne by the employers of NYSTRS members, rather than by the state generally. The bill takes effect immediately. The accompanying fiscal note estimates the refund cost at approximately $28,000, based on member data and actuarial assumptions used by the retirement system.
Impact
The bill creates a narrow exception to existing retirement and social security law, specifically overriding subdivision b of section 902 to permit a refund that would otherwise not be available under standard NYSTRS rules. Its practical effect is limited to one named individual, but it sets a precedent for a special legislative remedy in a retirement contribution dispute involving a transfer between the New York City and New York State teachers’ retirement systems. The financial impact is modest and is assigned to NYSTRS employers, not directly to the state treasury.
Sentiment
There is no recorded committee transcript or vote history showing debate, opposition, or amendments beyond the bill’s reprint and recommittal. Based on the bill’s structure and the fiscal note, the measure appears routine and narrowly tailored, with the main policy purpose being to correct an individual retirement accounting issue. The absence of recorded controversy suggests limited public or legislative contention in the available materials.
Contention
The main point of potential contention is the bill’s individualized nature: it grants a special refund to a single named person rather than changing retirement rules generally. That can raise fairness concerns about preferential treatment and whether similar cases should be handled through broader statutory standards instead of special legislation. A secondary issue is the allocation of cost to employers of NYSTRS members, though the estimated fiscal impact is relatively small at about $28,000.
Authorizes Breanne M. Smith to receive a refund of certain accumulated contributions paid to the New York state and local employees' retirement system.