Bill Text: NY A09812 | 2013-2014 | General Assembly | Introduced

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Bill Title: Authorizes the payment of ordinary disability retirement benefits by the New York state and local police and fire retirement system to the widow of Richard O'Brien.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2014-12-17 - signed chap.503 [A09812 Detail]

Download: New_York-2013-A09812-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         9812
                                 I N  A S S E M B L Y
                                     May 23, 2014
                                      ___________
       Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
         Committee on Governmental Employees
       AN ACT authorizing the payment of ordinary disability  retirement  bene-
         fits by the New York state and local police and fire retirement system
         to the widow of Richard O'Brien
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Notwithstanding the provisions of any  general  or  special
    2  law,  rule  or regulation to the contrary, Richard O'Brien, who was last
    3  employed by the New York state division of state police as  an  investi-
    4  gator,  and  who was a member of the New York state and local police and
    5  fire retirement system at the time of his death on December 7, 2009, and
    6  who, for reasons not ascribed to his own negligence, failed  to  file  a
    7  timely  application  for  the state police disability retirement benefit
    8  provided by section 363-b of the  retirement  and  social  security  law
    9  prior  to his death, shall be deemed to have timely filed an application
   10  for the benefit on December 7, 2009 if, within one year of the effective
   11  date of this act, Stephanie O'Brien, the widow of Richard O'Brien, files
   12  with the state comptroller a  written  request  to  that  effect  and  a
   13  retirement  option election form electing to receive retirement benefits
   14  pursuant to the terms of the joint allowance-full option with  Stephanie
   15  O'Brien  as the option beneficiary. The approval of said application for
   16  a disability retirement benefit provided by section 363-b of the retire-
   17  ment and social security law will constitute a waiver of any  rights  or
   18  benefits  to  the pre-retirement ordinary death benefit payable upon the
   19  death of a member in service pursuant to subdivision b of section 448 of
   20  the retirement and social security law. Any amounts paid by the  retire-
   21  ment  system  as  the result of the death of Richard O'Brien, whether to
   22  his estate, to Stephanie O'Brien or to any other  beneficiary  prior  to
   23  the filing of the request for the disability retirement benefit shall be
   24  deducted from the disability retirement benefit payable thereafter.
   25    S  2.  Any additional costs for this act shall be paid by the state of
   26  New York.
   27    S 3. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15247-04-4
       A. 9812                             2
         FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
         This  bill would deem Richard O'Brien to have timely filed an applica-
       tion for a disability retirement benefit effective on December 7,  2009.
       Stephanie O'Brien shall be authorized to file for the disability retire-
       ment  benefit  on  his behalf. Further, Stephanie O'Brien must waive all
       rights and benefits to the ordinary death benefits she  would  otherwise
       be  entitled  to receive. Any payments received from such ordinary death
       benefit will be deducted from the benefits  payable  under  this  legis-
       lation.
         If  this  bill is enacted, there would be a one-time cost to the State
       of New York of approximately $505,000. This estimate  is  based  on  the
       assumption that payment will be made on March 1, 2015.
         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, 2013  actuarial  valu-
       ation.    Distributions  and  other  statistics can be found in the 2013
       Report of the  Actuary  and  the  2013  Comprehensive  Annual  Financial
       Report.
         The  actuarial assumptions and methods used are described in the 2010,
       2011, 2012 and 2013  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, 2013
       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  statement  of  actuarial  opinion
       contained herein.
         This estimate, dated May 14, 2014, and intended for  use  only  during
       the  2014  Legislative Session, is Fiscal Note No. 2014-132, prepared by
       the Actuary for the New York State and Local Police and Fire  Retirement
       System.