Authorizes Jonathan Grossman to apply for a recalculation of his retirement benefits

◆ The sponsor's argument

Why Leroy Comrie says this is needed

Jonathan Grossman became a member of the New York City Teachers Retire- ment System (NYC TRS) as a Tier-I 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.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.