Bill Text: NY A04937 | 2013-2014 | General Assembly | Introduced

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Bill Title: Authorizes Cindy L. Premo, the widow of Ronald M. Premo, to apply for an ordinary disability retirement and file a retirement option election on behalf of her deceased husband.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2013-02-28 - enacting clause stricken [A04937 Detail]

Download: New_York-2013-A04937-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4937
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 13, 2013
                                      ___________
       Introduced  by  M. of A. STEC -- read once and referred to the Committee
         on Governmental Employees
       AN ACT to authorize the payment of ordinary disability benefits  by  the
         New  York state and local employees' retirement system to the widow of
         Ronald M.  Premo
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Notwithstanding any other provision of law to the contrary,
    2  Cindy  L.  Premo,  the  widow of Ronald M. Premo who was employed by the
    3  department of law, was a member of the New York state and local  employ-
    4  ees'  retirement  system,  was diagnosed and hospitalized with cancer in
    5  January of 2002, was advised on February  14,  2002  that  he  would  be
    6  unable  to  return to employment as the result of his malignancy and the
    7  treatment therefor, and died on February 18, 2002  prior  to  filing  an
    8  application  for  an  ordinary  disability  retirement  and a retirement
    9  election form with the New York state and  local  employees'  retirement
   10  system,  shall  be  authorized  to file such application and election on
   11  behalf of her deceased husband, if on or before December  31,  2014  she
   12  shall  submit a request therefor to the state comptroller. Such applica-
   13  tion  for  an  ordinary  disability  retirement  and  retirement  option
   14  election  shall  be deemed to have become effective on February 5, 2002.
   15  All retirement benefits payable pursuant to the provisions of  this  act
   16  shall  be paid to Cindy L. Premo and shall be in lieu of any other death
   17  benefits payable.
   18    S 2. This act shall take effect immediately.
         FISCAL NOTE.--This bill would deem Ronald M. Premo, who died in active
       service prior to  filing  an  application  for  an  ordinary  disability
       retirement,  to  have  filed  such  application on February 5, 2002. The
       benefits payable pursuant to this act shall be  in  lieu  of  any  other
       death benefits payable.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01122-02-3
       A. 4937                             2
         If  this  bill  is  enacted,  there  will  be  a cost of approximately
       $162,000 which would be shared by the State of  New  York  and  all  the
       participating  employers  in  the  New  York  State and Local Employees'
       Retirement System.
         Summary of relevant resources:
         Data:  March  31,  2012  Actuarial Year End File with distributions of
       membership and other statistics displayed in  the  2012  Report  of  the
       Actuary and 2012 Comprehensive Annual Financial Report.
         Assumptions  and  Methods:  2010,  2011  and 2012 Annual Report to the
       Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the
       State of New York: Audit and Control.
         Market Assets and GASB Disclosures: March 31, 2012 New York State  and
       Local  Retirement System Financial Statements and Supplementary Informa-
       tion.
         Valuations of Benefit Liabilities and Actuarial Assets: summarized  in
       the 2012 Actuarial Valuations report.
         I am a member of the American Academy of Actuaries and meet the Quali-
       fication Standards to render the actuarial opinion contained herein.
         This estimate, dated January 25, 2013 and intended for use only during
       the  2013  Legislative  Session, is Fiscal Note No. 2013-50, prepared by
       the Actuary for the New  York  State  and  Local  Employees'  Retirement
       System.