BILL NUMBER: S4490
SPONSOR: HELMING
 
TITLE OF BILL:
An act in relation to authorizing Christine Hasseler to apply for a
recalculation of her retirement benefits
 
PURPOSE OR GENERAL IDEA OF BILL:
To allow Christine Hasseler to have her retirement benefits recalcu-
lated.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 : Allows Christine Hasseler to have her final average salary
and pension benefit recalculated to include her retirement incentive
payments regardless of the date when these payments were received.
Establishes that the increase in benefit will be payable retroactive to
her date of retirement.
Section 2: Provides that all costs of implementing the provisions of
this act shall be borne by the employers of members of the New York
state teachers' retirement system.
Section 3: Provides for an immediate effective date.
 
JUSTIFICATION:
Christine Hasseler retired from teaching in August of 2004 after almost
34 years of service which began on September 1, 1970. At the time of her
retirement, she was granted a retirement incentive, which should have
been included in the calculation of her retirement benefits. Teachers
who entered the New York State Teacher Retirement System prior to June
17, 1971, were allowed to use retirement incentive monies as part of
their final average salary calculation if the payment was made before
the end of the retirement year. However, her employer failed to make the
payment within the required timeframe. As a result, Ms. Hasseler did not
receive credit for these earnings, reducing her retirement benefits
through no fault of her own. This legislation will allow Ms. Hasseler to
have her benefits recalculated to account for her retirement incentive.
 
PRIOR LEGISLATIVE HISTORY:
2024: S.9129 referred to Civil Service and Pensions/A.10300 referred to
Governmental Employees
 
FISCAL IMPLICATIONS:
This legislation will result in an increase in liabilities of $66,000,
the cost of which will be borne by the employers of members of the New
York State Teacher Retirement System.
 
EFFECTIVE DATE:
This act shall take effect immediately.