Bill Text: NY A07278 | 2023-2024 | General Assembly | Introduced

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Bill Title: Authorizes the New York state and local employees' retirement system to accept an application for disability retirement benefits from Andrew Reilly, Jr.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-01-03 - referred to governmental employees [A07278 Detail]

Download: New_York-2023-A07278-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7278

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                      May 17, 2023
                                       ___________

        Introduced  by  M.  of  A.  McDONOUGH  --  read once and referred to the
          Committee on Governmental Employees

        AN ACT in relation to authorizing the New York state and  local  employ-
          ees' retirement system to accept an application for disability retire-
          ment benefits from Andrew Reilly, Jr.

          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  Andrew  Reilly,
     3  Jr.,  who  was  employed as a clerk for the town of Hempstead Sanitation
     4  District 1 and a member of the  New  York  state  and  local  employees'
     5  retirement  system  from  March  1995 until October 15, 2020, suffered a
     6  stroke on February 20, 2020 and who, for reasons not ascribable  to  his
     7  own negligence, did not apply to the New York state and local employees'
     8  retirement  system  for  disability  retirement  benefits because of the
     9  COVID-19, novel coronavirus state of emergency, shall be deemed to  have
    10  applied to the New York state and local employees' retirement system for
    11  disability  retirement  benefits  within  30  days  of his disability on
    12  February 20, 2020.
    13    § 2. All costs associated with the implementation of this act shall be
    14  borne by the employers of the members of the New York  state  and  local
    15  employees' retirement system.
    16    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This bill would deem Andrew Reilly Jr. to have applied to the New York
        State  and  Local  Employees' Retirement System (NYSLERS) for disability
        benefits within thirty days of their disability on February 20, 2020.
          If this bill is enacted  during  the  2023  legislative  session,  and
        Andrew  Reilly  Jr.  is  subsequently  approved  for disability benefits
        pursuant to section 605 of the Retirement and Social Security Law, there
        will be an immediate past service cost of approximately  $222,000  which

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10709-02-3
        A. 7278                             2

        will  be  borne  by  the  State  of New York and all local participating
        employers in the NYSLERS. This estimate assumes  that  payment  will  be
        made on February 1, 2024.
          Summary of relevant resources:
          Membership  data as of March 31, 2022 was used in measuring the impact
        of the proposed change, the same data used in the April 1, 2022 actuari-
        al valuation.  Distributions and other statistics can be  found  in  the
        2022  Report  of the Actuary and the 2022 Annual Comprehensive Financial
        Report.
          The actuarial assumptions and methods used are described in the  2020,
        2021,  and  2022  Annual  Report to the Comptroller on Actuarial Assump-
        tions, 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, 2022
        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 fiscal note does not constitute a legal opinion on the  viability
        of  the  proposed change nor is it intended to serve as a substitute for
        the professional judgment of an attorney.
          This estimate, dated May 10, 2023, and intended for  use  only  during
        the  2023  Legislative Session, is Fiscal Note No. 2023-145, prepared by
        the Actuary for the New York State and Local Retirement System.