Bill Text: NY A05453 | 2017-2018 | General Assembly | Introduced

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Bill Title: Grants James Mallan an increase in his disability retirement based on his final average salary.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2018-01-03 - referred to governmental employees [A05453 Detail]

Download: New_York-2017-A05453-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5453
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 9, 2017
                                       ___________
        Introduced  by  M.  of  A.  BLANKENBUSH -- read once and referred to the
          Committee on Governmental Employees
        AN ACT in relation to authorizing James Mallan to apply for an  increase
          in his disability pension
          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, James
     2  Mallan who commenced employment with the state department of correction-
     3  al services on May 30, 1988, and who through no negligence  of  his  own
     4  was  disabled  while  completing his training at the academy on June 29,
     5  1988 and who was granted disability retirement in  April  1990  at  one-
     6  third  of  his final salary, and who was reinstated by the state depart-
     7  ment of corrections and community supervision, shall have his retirement
     8  benefits calculated based on his final average salary at the time of his
     9  application for disability retirement benefits on February 28, 2008,  if
    10  he  shall  file an application therefor with the state comptroller on or
    11  before December 31, 2017.
    12    § 2. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill will deem James T. Mallan, currently a Section  507-a  disa-
        bility retiree receiving an annual benefit of 1/3 of final average sala-
        ry  earned  as of April, 1990, to have his pension recalculated based on
        his final average salary with the New York State Department  of  Correc-
        tional Services earned as of February, 2008.
          If  this  bill is enacted, we anticipate that there will be a one-time
        cost of approximately $204,000 which will 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:
          The  membership  data  used  in  measuring  the impact of the proposed
        change was the same as that used in the March 31, 2016  actuarial  valu-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06822-02-7
        A. 5453                             2
        ation.    Distributions  and  other  statistics can be found in the 2016
        Report of the  Actuary  and  the  2016  Comprehensive  Annual  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2015
        and 2016 Annual Report to the Comptroller on Actuarial Assumptions,  and
        the  Codes  Rules  and  Regulations  of the State of New York: Audit and
        Control.
          The Market Assets and GASB Disclosures are found in the March 31, 2016
        New York State and Local  Retirement  System  Financial  Statements  and
        Supplementary Information.
          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  12,  2017,  and intended for use only
        during the  2017  Legislative  Session,  is  Fiscal  Note  No.  2017-13,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.