Bill Text: NY S06857 | 2023-2024 | General Assembly | Amended

---

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) 2024-02-16 - PRINT NUMBER 6857A [S06857 Detail]

Download: New_York-2023-S06857-Amended.html

---

                STATE OF NEW YORK
        ________________________________________________________________________

                                         6857--A

                               2023-2024 Regular Sessions

                    IN SENATE

                                      May 11, 2023
                                       ___________

        Introduced  by  Sen.  RHOADS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
          -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
          accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee

        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.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10709-03-4
        S. 6857--A                          2

          If  this  bill  is  enacted  during  the 2024 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 $331,000 which
        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, 2025.
          Summary of relevant resources:
          Membership  data as of March 31, 2023 was used in measuring the impact
        of the proposed change, the same data used in the April 1, 2023 actuari-
        al valuation.  Distributions and other statistics can be  found  in  the
        2023  Report  of the Actuary and the 2023 Annual Comprehensive Financial
        Report.
          The actuarial assumptions and methods used are described in  the  2023
        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, 2023
        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 February 14, 2024,  and  intended  for  use  only
        during  the  2024  Legislative  Session,  is  Fiscal  Note No. 2024-107,
        prepared by the Actuary for the New  York  State  and  Local  Retirement
        System.