N.Y. Comp. Codes R. & Regs. tit. 9 § 5.96

Current through Register Vol. 46, No. 25, June 18, 2024

Section 5.96 - Executive order no. 96: establishing the task force on public employee pension systems

WHEREAS, the strengthened financial condition of public employee retirement systems has resulted in a vast number of competing proposals to improve and reform those retirement systems;

WHEREAS, any changes to public employee retirement systems could have profound effects not only on the pensions of current and future public retirees, but on current public employees as well;

WHEREAS, any amendments to the current system require careful consideration and full exploration by knowledgeable experts and affected parties to ensure the equitable treatment of current and former employees who are members of public retirement systems, as well as to maintain the sound financial condition of the public retirement systems in the future at reasonable cost to participating employers;

NOW, THEREFORE, I, GEORGE E. PATAKI, Governor of the State of New York, by virtue of the authority vested in me by the Constitution and Laws of the State of New York, do hereby establish the Task Force on Public Employee Pension Systems.

I. Membership

The Task Force on Public Employee Pension Systems (Task Force) shall consist of fifteen members appointed by the Governor. Members of the Task Force shall include the Director of the Governor's Office of Employee Relations or her designee, who shall serve as Chair; the Director of the Division of the Budget or his designee; one member appointed upon the recommendation of the Temporary President of the Senate; one member appointed upon the recommendation of the Speaker of the Assembly; one member appointed upon the recommendation of the State Comptroller; one member appointed upon the recommendation of the Mayor of the City of New York; and nine other members including representatives from public employee retirement systems, retired public employee organizations, public employee unions and local government public employers. The members of the Task Force shall receive no compensation but shall be entitled to reimbursement for any necessary expenses incurred in connection with the performance of their duties.

II. Responsibilities and Powers

A. The Task Force shall study and report on:

(1) the financial condition of each retirement system; and

(2) pension benefits currently provided to members of each public employment retirement system, including comparisons with other public and private sector pension benefits. In addition, the Task Force will recommend changes to the public employee retirement systems that may be necessary to provide sufficient benefits to members of retirement systems on an equitable basis while maintaining the financial stability of the public employee retirement systems in the present, as well as in the future.

B. The Task Force is authorized to:

(1) employ or contract with such actuaries, consultants and other experts as may be necessary and prescribe their duties and fix their compensation;

(2) conduct hearings in furtherance of the performance of its duties under this Order; and

(3) call upon any agency, department, office, division, or public authority of this State to supply it with such data and other resources, personnel and assistance as the Task Force deems necessary to discharge the responsibilities conferred upon it by this Order.

Each agency, department, office, division, and public authority of this State is hereby required to cooperate with the Task Force and to furnish the Task Force with such information, personnel, and assistance as the Task Force deems necessary to accomplish the purposes of this Order.

III. Expiration

The Task Force shall issue its report on or before April 1, 2000 to the Governor, the Temporary President of the Senate and Speaker of the Assembly, and the Task Force shall be deemed dissolved after such date.

Signed: George E. PatakiDated: June 15, 1999

[FN*] [Revoked by Executive Order No. 5 (Eliot Spitzer), infra.]

[Revoked by Executive Order No. 9 (David A. Paterson), infra.]

[Revoked by Executive Order No. 2 (Andrew M. Cuomo), infra.]

N.Y. Comp. Codes R. & Regs. Tit. 9 § 5.96