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Bill > A09776
NY A09776
NY A09776Relates to transfers of members between systems; authorizes members of the MTA police retirement program to transfer to certain retirement systems.
summary
Introduced
04/09/2024
04/09/2024
In Committee
04/09/2024
04/09/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the retirement and social security law, in relation to transfers of members between systems
AI Summary
This bill amends the Retirement and Social Security Law to authorize members of the MTA (Metropolitan Transportation Authority) police retirement program to transfer their membership to the New York State and Local Police and Fire Retirement System, the New York City Police Pension Fund, or the New York City Fire Department Subchapter Two Pension Fund. It also allows MTA police retirement program members to transfer their membership to the New York State and Local Police and Fire Retirement System. The bill removes the requirement for a determination of a reserve and transfer of the reserve in cases where the member has less than 10 years of credited service with the transferring retirement system. The bill applies to membership transfers initiated on or after January 1, 2023, with certain timing requirements.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
referred to governmental employees (on 04/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/A9776 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A09776&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A09776 |
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