Authorizes Christine Hasseler to apply for a recalculation of her retirement benefits.
Summary
This bill is a private pension relief measure for Christine Hasseler, a retired Tier 1 member of the New York State Teachers’ Retirement System (NYSTRS). It authorizes her to apply for a recalculation of her final average salary and pension benefit so that certain retirement incentive payments are counted even though they were not received by the employer by the usual deadline. The bill specifies that the recalculation would be made without regard to the actual date the payments were received, as long as the delay was not due to her own negligence.
If enacted, the increase in her retirement benefit would be paid retroactively to her date of retirement, August 12, 2004. The bill also provides that the cost of implementing the change would be borne by the employers of NYSTRS members, rather than by the retiree or the state generally. The act would take effect immediately.
Impact
The bill creates a narrow exception to existing retirement law and NYSTRS benefit-calculation rules for one named individual. It would require the Teachers’ Retirement System to recalculate a retiree’s pension using incentive payments that were received late, and it would direct the resulting increased liability to participating employers in the system. The fiscal note estimates the present-value cost at about $68,000, affecting employer contribution obligations rather than changing benefits for the broader membership.
Sentiment
No committee transcript or recorded vote is available, so there is no documented debate or formal legislative sentiment in the provided materials. Based on the bill text, the measure appears remedial and individualized, aimed at correcting a timing issue that allegedly occurred through no fault of the retiree. The fiscal note suggests the financial impact is modest, which may indicate limited controversy from a budget standpoint, but the absence of discussion prevents a definitive assessment of support or opposition.
Contention
The main potential point of contention is that the bill grants a special, person-specific pension adjustment rather than a generally applicable rule, which can raise concerns about precedent and fairness to other retirees. Another possible issue is the allocation of costs to NYSTRS employers, who would bear the added liability. Because there are no transcripts or votes, no specific objections or supporters are identified in the record provided.
Grants retroactive membership with Tier IV status in the New York state and local employees' retirement system to Christine Fernandez, formerly Christine Lennard, for her September 11, 1986 -- June 1989 employment with SUNY Buffalo.
Authorizes Marie Glarakis, a former Suffolk county police officer who is receiving a performance of duty disability retirement, to change the designated beneficiary of her retirement benefits and her retirement option to single life allowance (Option 0).
Authorizes Marie Glarakis, a former Suffolk county police officer who is receiving a performance of duty disability retirement, to change the designated beneficiary of her retirement benefits and her retirement option to single life allowance (Option 0).
Authorizes Judy A. Lynch, the widow of James G. Lynch, to file a new service retirement application and an option election form on behalf of her deceased husband with the New York state and local employees' retirement system.
Authorizes Olivia Rae Salta, the daughter of Dawn Jimenez-Salta, to file a new service retirement application and option election form with the New York state and local employees' retirement system on behalf of her deceased mother.