BILL NUMBER: S5435
SPONSOR: COMRIE
 
TITLE OF BILL:
An act authorizing Jonathan Grossman to apply for a recalculation of his
retirement benefits
 
PURPOSE:
To allow for Jonathan Grossman to apply for a recalculation of his
retirement benefits due to the unique circumstances surrounding his
retirement.
 
SUMMARY OF PROVISIONS:
Section 1 provides for Jonathan Grossman to recalculate his retirement
benefits with the inclusion of his lump sum for accumulated vacation,
including interest from the date of retirement. Section 2 directs the
City of New York to bear the cost of these provisions. Section 3 sets
the effective date.
 
JUSTIFICATION:
Jonathan Grossman became a member of the New York City Teachers Retire-
ment System (NYC TRS) as a Tier-1 Member in 1972. In 1974, Mr. Grossman
gained employment with the New York City Housing and Development Admin-
istration. His status as a city employee was converted to the state
system in 1984 when his division within the New York City housing agency
was transferred to state control of the New York State Division of Hous-
ing and Community Renewal under the Omnibus Housing Act of 1983. This
act allowed for transferred employees to remain with their respective
city retirement systems. Upon his retirement in 2010, Mr. Grossman
found that NYC TRS had not included his lump sum vacation payment
towards the calculation of his Final Average Salary (FAS). While Section
431(1) of the state Retirement and Social Security Law discontinued this
practice for members who joined their retirement systems after April 1,
1972, Mr. Grossman was a member well within the time period to be
eligible for this benefit. This bill would address this miscalculation
and allow for Mr. Grossman to recalculate an adjustment to his FAS and
pension amount.
 
LEGISLATIVE HISTORY:
2019: S. 4468 - Referred to Rules Committee.
2020: S. 4468 - Referred to Rules Committee.
2022: S.5526 - Referred to Civil Service and Pensions.
2023-24: S7180A- referred to civil service and pensions.
 
FISCAL IMPLICATIONS:
Fiscal note needed, cost to be borne by New York City.
 
EFFECTIVE DATE:
This act shall take effect immediately.