Bill Text: NY A05517 | 2011-2012 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Provides for an increased death benefit payment by the New York state and local police and fire retirement system to the survivors of police officer Theodore Raffel, who was a Southampton Village police officer for 19 years, 364 days and 15 1/2 hours at the time of his death.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-05-15 - held for consideration in governmental employees [A05517 Detail]

Download: New_York-2011-A05517-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
           S. 3462                                                  A. 5517
                              2011-2012 Regular Sessions
                             S E N A T E - A S S E M B L Y
                                   February 23, 2011
                                      ___________
       IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
         ed, and when printed to be committed to the Committee on Civil Service
         and Pensions
       IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
         to the Committee on Governmental Employees
       AN ACT to provide for an increased death benefit for the survivors of  a
         deceased police officer
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The legislature finds and declares that the  late  Theodore
    2  Raffel  served  the  village  of  Southampton  for nineteen years, three
    3  hundred sixty-four days and fifteen and one-half hours as a police offi-
    4  cer.  At the time of officer Raffel's death, a situation which  was  not
    5  due  to  negligence  on the part of such individual, there had been paid
    6  into the New York state and local police and fire retirement  system  on
    7  his  behalf  contributions  in  the  amount of approximately one hundred
    8  seventy thousand dollars.  Nevertheless, the amount of the death benefit
    9  paid to officer Raffel's widow was less than one-half of that amount.
   10    S 2.  Notwithstanding any inconsistent provision of law, the New  York
   11  state  and  local  police  and  fire retirement system is authorized and
   12  directed to pay to the beneficiary of police  officer  Theodore  Raffel,
   13  who  was employed by the village of Southampton as a police officer from
   14  1966, until his death on June 1, 1986, the sum of all  of  the  contrib-
   15  utions  paid  by  the village of Southampton to such system on behalf of
   16  such police officer together with compound interest thereon  at  a  rate
   17  reflecting  the  return  on investments earned by the funds held by such
   18  system during the period when  such  contributions  were  held  by  such
   19  system  together  with  interest  thereon from the date of death of such
   20  officer, less any sums previously paid by such system to such  benefici-
   21  ary.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03821-02-1
       S. 3462                             2                            A. 5517
    1    S 3. This act shall take effect immediately.
         FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
         This  bill would increase the death benefit paid to the beneficiary of
       deceased police officer Theodore Raffel. The new  death  benefit  amount
       would be the sum, over all the years of Mr. Raffel's employment with the
       Village  of  Southampton, of the products of his annual salaries and the
       Village's applicable contributions rates, with interest.
         If this bill is enacted, the estimated cost of  the  increase  in  the
       death  benefit  would be approximately $1.85 million. This cost would be
       shared by the State of New York and all participating employers  in  the
       New York State and Local Police and Fire Retirement System.
         This estimate, dated January 21, 2011 and intended for use only during
       the  2011  Legislative  Session, is Fiscal Note No. 2011-85, prepared by
       the Actuary for the New York State and Local Police and Fire  Retirement
       System.