Bill Text: NY A10018 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to increasing certain special accidental death benefits; increases the special accidental death benefit paid to a widow or widower or the deceased member's children under the age of eighteen, or if a student, under the age of twenty-three.
Spectrum: Slight Partisan Bill (Democrat 9-5)
Status: (Introduced - Dead) 2020-03-04 - referred to governmental employees [A10018 Detail]
Download: New_York-2019-A10018-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 10018 IN ASSEMBLY March 4, 2020 ___________ Introduced by M. of A. JOYNER -- read once and referred to the Committee on Governmental Employees AN ACT to amend the general municipal law and the retirement and social security law, in relation to increasing certain special accidental death benefits The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision c of section 208-f of the general municipal 2 law, as amended by chapter 382 of the laws of 2019, is amended to read 3 as follows: 4 c. Commencing July first, two thousand [nineteen] twenty the special 5 accidental death benefit paid to a widow or widower or the deceased 6 member's children under the age of eighteen or, if a student, under the 7 age of twenty-three, if the widow or widower has died, shall be esca- 8 lated by adding thereto an additional percentage of the salary of the 9 deceased member (as increased pursuant to subdivision b of this section) 10 in accordance with the following schedule: 11 calendar year of death 12 of the deceased member per centum 13 1977 or prior [246.1%] 256.5% 14 1978 [236%] 246.1% 15 1979 [226.2%] 236% 16 1980 [216.7%] 226.2% 17 1981 [207.5%] 216.7% 18 1982 [198.5%] 207.5% 19 1983 [189.8%] 198.5% 20 1984 [181.4%] 189.8% 21 1985 [173.2%] 181.4% 22 1986 [165.2%] 173.2% 23 1987 [157.5%] 165.2% 24 1988 [150.0%] 157.5% 25 1989 [142.7%] 150.0% 26 1990 [135.7%] 142.7% 27 1991 [128.8%] 135.7% EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14957-03-0A. 10018 2 1 1992 [122.1%] 128.8% 2 1993 [115.7%] 122.1% 3 1994 [109.4%] 115.7% 4 1995 [103.3%] 109.4% 5 1996 [97.4%] 103.3% 6 1997 [91.6%] 97.4% 7 1998 [86.0%] 91.6% 8 1999 [80.6%] 86.0% 9 2000 [75.4%] 80.6% 10 2001 [70.2%] 75.4% 11 2002 [65.3%] 70.2% 12 2003 [60.5%] 65.3% 13 2004 [55.8%] 60.5% 14 2005 [51.3%] 55.8% 15 2006 [46.9%] 51.3% 16 2007 [42.6%] 46.9% 17 2008 [38.4%] 42.6% 18 2009 [34.4%] 38.4% 19 2010 [30.5%] 34.4% 20 2011 [26.7%] 30.5% 21 2012 [23.0%] 26.7% 22 2013 [19.4%] 23.0% 23 2014 [15.9%] 19.4% 24 2015 [12.6%] 15.9% 25 2016 [9.3%] 12.6% 26 2017 [6.1%] 9.3% 27 2018 [3.0%] 6.1% 28 2019 [0.0%] 3.0% 29 2020 0.0% 30 § 2. Subdivision c of section 361-a of the retirement and social secu- 31 rity law, as amended by chapter 382 of the laws of 2019, is amended to 32 read as follows: 33 c. Commencing July first, two thousand [nineteen] twenty the special 34 accidental death benefit paid to a widow or widower or the deceased 35 member's children under the age of eighteen or, if a student, under the 36 age of twenty-three, if the widow or widower has died, shall be esca- 37 lated by adding thereto an additional percentage of the salary of the 38 deceased member, as increased pursuant to subdivision b of this section, 39 in accordance with the following schedule: 40 calendar year of death 41 of the deceased member per centum 42 1977 or prior [246.1%] 256.5% 43 1978 [236%] 246.1% 44 1979 [226.2%] 236% 45 1980 [216.7%] 226.2% 46 1981 [207.5%] 216.7% 47 1982 [198.5%] 207.5% 48 1983 [189.8%] 198.5% 49 1984 [181.4%] 189.8% 50 1985 [173.2%] 181.4% 51 1986 [165.2%] 173.2% 52 1987 [157.5%] 165.2% 53 1988 [150.0%] 157.5% 54 1989 [142.7%] 150.0% 55 1990 [135.7%] 142.7% 56 1991 [128.8%] 135.7%A. 10018 3 1 1992 [122.1%] 128.8% 2 1993 [115.7%] 122.1% 3 1994 [109.4%] 115.7% 4 1995 [103.3%] 109.4% 5 1996 [97.4%] 103.3% 6 1997 [91.6%] 97.4% 7 1998 [86.0%] 91.6% 8 1999 [80.6%] 86.0% 9 2000 [75.4%] 80.6% 10 2001 [70.2%] 75.4% 11 2002 [65.3%] 70.2% 12 2003 [60.5%] 65.3% 13 2004 [55.8%] 60.5% 14 2005 [51.3%] 55.8% 15 2006 [46.9%] 51.3% 16 2007 [42.6%] 46.9% 17 2008 [38.4%] 42.6% 18 2009 [34.4%] 38.4% 19 2010 [30.5%] 34.4% 20 2011 [26.7%] 30.5% 21 2012 [23.0%] 26.7% 22 2013 [19.4%] 23.0% 23 2014 [15.9%] 19.4% 24 2015 [12.6%] 15.9% 25 2016 [9.3%] 12.6% 26 2017 [6.1%] 9.3% 27 2018 [3.0%] 6.1% 28 2019 [0.0%] 3.0% 29 2020 0.0% 30 § 3. This act shall take effect July 1, 2020. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would amend both the General Municipal Law and the Retire- ment and Social Security Law to increase the salary used in the computa- tion of the special accidental death benefit by 3% in cases where the date of death was before 2020. Insofar as this bill would amend the Retirement and Social Security Law, it is estimated that there would be an additional annual cost of approximately $606,000 above the approximately $13.6 million current annual cost of this benefit. This cost would be shared by the State of New York and all participating employers of the New York State and Local Police and Fire 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, 2019 actuarial valu- ation. Distributions and other statistics can be found in the 2019 Report of the Actuary and the 2019 Comprehensive Annual Financial Report. The actuarial assumptions and methods used are described in the 2015, 2016, 2017, 2018, and 2019 Annual Report to the Comptroller on Actuarial Assumptions, and the Codes, Rules and Regulations of the State of New York: Adult and Control. The Market Assets and GASB Disclosures are found in the March 31, 2019 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.A. 10018 4 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 February 24, 2020, and intended for use only during the 2020 Legislative Session, is Fiscal Note No. 2020-57, prepared by the Actuary for the New York State and Local Retirement System.