New York A 7785: Relates to the practice of dentistry

Bill Text

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A07785 Summary:

BILL NOA07785A

&nbsp

SAME ASSAME AS S04490-A

&nbsp

SPONSORManktelow

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

&nbsp

Authorizes Christine Hasseler to apply for a recalculation of her retirement benefits.

Go to top A07785 Actions:

BILL NOA07785A

&nbsp

04/10/2025referred to governmental employees

01/07/2026referred to governmental employees

03/05/2026amend and recommit to governmental employees

03/05/2026print number 7785a

Go to topA07785 Committee&nbspVotes:

Go to topA07785 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07785 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7785--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 10, 2025
 ___________

 Introduced by M. of A. MANKTELOW -- read once and referred to the
 Committee on Governmental Employees -- recommitted to the Committee on
 Governmental Employees in accordance with Assembly Rule 3, sec. 2 --
 committee discharged, bill amended, ordered reprinted as amended and
 recommitted to said committee

 AN ACT in relation to authorizing Christine Hasseler to apply for a
 recalculation of her retirement benefits

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Notwithstanding any provision of law to the contrary,
 2 Christine Hasseler, who joined the New York state teachers' retirement
 3 system as a Tier 1 member on September 1, 1970, who retired from such
 4 system on August 12, 2004, and who for reasons not ascribable to her own
 5 negligence, did not receive her retirement incentive payments from her
 6 employer by the deadline, shall have her final average salary and
 7 pension benefit recalculated to include such payments, without regard to
 8 the actual date of the receipt of such payments. The increase in bene-
 9 fit will be payable retroactive to her date of retirement.
 10 § 2. All costs of implementing the provisions of this act shall be
 11 borne by the employers of members of the New York state teachers'
 12 retirement system.
 13 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 Bill Description:
 This fiscal note is prepared for legislative bill draft #01080-02-5.
 This bill would allow Christine Hasseler, a retired Tier 1 member of the
 New York State Teachers' Retirement System (NYSTRS), to have her pension
 benefit recalculated to include retirement incentive payments she
 received regardless of when those retirement incentive payments were
 made. Ms. Hasseler's pension would be recalculated with retroactive

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01080-04-6

 A. 7785--A 2

 adjustment to payments made since her date of retirement of August 12,
 2004.
 Cost:
 The cost of this benefit is equal to the increase in the present value
 of liabilities, which is estimated to be $68,000. This cost would be
 borne by the employers of members of the New York State Teachers'
 Retirement System.
 Data:
 Member data as of June 30, 2025, prepared for the most recent actuari-
 al valuation was used in determining this cost. The most recent data
 distributions and statistics can be found in the System's Annual Report
 for the fiscal year ended June 30, 2025. System assets are as reported
 in the System's financial statements which can be found in the System's
 Annual Report. This data will also be provided in the System's Actuarial
 Valuation Report as of June 30, 2025.
 Methods and Assumptions:
 A summary of actuarial assumptions and methods will be provided in the
 System's Actuarial Valuation Report as of June 30, 2025. Further details
 can be found in the most recent Recommended Actuarial Assumptions 2025
 Report.
 Actuarial Certification:
 We, the undersigned actuaries for the New York State Teachers' Retire-
 ment System, certify the following:
 1. The actuarial assumptions, methods, and data used are reasonable
 for the purposes of this fiscal note, internally consistent and are in
 accordance with standards of practice prescribed by the Actuarial Stand-
 ards Board and generally accepted actuarial principles and procedures.
 2. We relied on member data supplied by the participating employer