Bill Text: NY A07145 | 2019-2020 | General Assembly | Introduced

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Bill Title: Authorizes the New York state teachers' retirement system to accept an application for disability retirement benefits from Karen Sosinski.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to governmental employees [A07145 Detail]

Download: New_York-2019-A07145-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7145
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                     April 10, 2019
                                       ___________
        Introduced  by M. of A. GOODELL -- read once and referred to the Commit-
          tee on Governmental Employees
        AN ACT to authorize the New York state teachers'  retirement  system  to
          accept  an  application  for disability retirement benefits from Karen
          Sosinski
          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  the  application  for  disability retirement benefits of Karen Sosinski,
     3  who was employed as a teacher by the Dunkirk city school district and  a
     4  member of the New York state teachers' retirement system, who ceased her
     5  employment  with  the Dunkirk city school district on April 3, 2014, and
     6  who, for reasons not ascribable to her own negligence, did not apply  to
     7  the New York state teachers' retirement system for disability retirement
     8  benefits  until October 26, 2015, shall be deemed to have applied to the
     9  New York state teachers' retirement  system  for  disability  retirement
    10  benefits within 30 days of her ceasing to be employed on April 3, 2014.
    11    § 2. All costs associated with the implementation of this act shall be
    12  borne  by  the  employers of the members of the New York state teachers'
    13  retirement system.
    14    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill concerns Karen Sosinski, a vested member  of  the  New  York
        State Teachers' Retirement System who ceased her employment as a teacher
        with  the  Dunkirk  City  School  District on April 3, 2014, and did not
        apply for disability retirement benefits until October 26,  2015,  after
        the 12-month deadline to apply for disability retirement had lapsed. She
        shall be deemed to have applied for disability retirement benefits with-
        in  30  days  of  ceasing her employment on April 3, 2014. Currently Ms.
        Sosinski is eligible for a service retirement benefit commencing at  age
        55.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09359-02-9
        A. 7145                             2
          The cost of this benefit is equal to the increase in the present value
        of  liabilities,  which  is estimated to be $144,000. This cost is to be
        borne by the employers of  members  of  the  New  York  State  Teachers'
        Retirement   System  and  is  contingent  upon  the  approval  of  Karen
        Sosinski's application for disability retirement by the Medical Board of
        the New York State Teachers' Retirement System.
          Member  data  is  from  the  System's  most recent actuarial valuation
        files, consisting of data provided by the employers  to  the  Retirement
        System.  Data  distributions and statistics can be found in the System's
        Comprehensive Annual Financial  Report  (CAFR).  System  assets  are  as
        reported  in the System's financial statements, and can also be found in
        the CAFR. Actuarial assumptions and methods are provided in the System's
        Actuarial Valuation Report.
          The source of this estimate is Fiscal Note  2019-19  dated  March  27,
        2019  prepared by the Actuary of the New York State Teachers' Retirement
        System and is intended for use only during the 2019 Legislative Session.
        I, Richard A. Young, am the Actuary for the  New  York  State  Teachers'
        Retirement  System.  I  am a member of the American Academy of Actuaries
        and I meet the Qualification Standards of the American Academy of  Actu-
        aries to render the actuarial opinion contained herein.