Bill Text: NY S01607 | 2021-2022 | General Assembly | Introduced

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Bill Title: Authorizes Susan Gillinder, the widow of Robert C. Ritchie, to file a new service retirement application and an option election form on behalf of her deceased husband with the New York state and local employees' retirement system.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2022-01-05 - REFERRED TO CIVIL SERVICE AND PENSIONS [S01607 Detail]

Download: New_York-2021-S01607-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1607

                               2021-2022 Regular Sessions

                    IN SENATE

                                    January 14, 2021
                                       ___________

        Introduced  by Sen. MARTUCCI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions

        AN ACT to authorize Susan Gillinder, the widow of Robert C.  Ritchie, to
          file a new service retirement application  and  option  election  form
          with  the  New  York  state  and local employees' retirement system on
          behalf of such deceased member

          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 contra-
     2  ry, Susan Gillinder, the widow of Robert C. Ritchie, who was a member of
     3  the New York state and local  employees'  retirement  system,  who  died
     4  after he filed for retirement but prior to his selected retirement date,
     5  shall  be authorized to file a new service retirement application and an
     6  option election form on behalf of her  deceased  husband  with  a  joint
     7  allowance  full  option,  if, within one year from the effective date of
     8  this act, she shall submit a request therefor to the state  comptroller.
     9  In  addition, his date of retirement shall be deemed to have been August
    10  15, 2016. Once such application is received, any rights or  benefits  to
    11  the  pre-retirement  ordinary  death benefit payable upon the death of a
    12  member in service pursuant to section 448 of the retirement  and  social
    13  security law shall be waived. Any amounts paid by the New York state and
    14  local  employees' retirement system as the result of the death of Robert
    15  C.  Ritchie prior to the filing of the request for a service  retirement
    16  benefit  pursuant  to  this  section  shall be deducted from the service
    17  retirement benefit payable thereafter.
    18    § 2. Any additional costs for this act shall be paid by the  state  of
    19  New York.
    20    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  deem  deceased member Robert C. Ritchie eligible to
        receive a service retirement benefit effective on August 15, 2016. Susan

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07271-02-1
        S. 1607                             2

        Gillinder shall be authorized to file for the service retirement benefit
        on his behalf with a joint allowance full option.    Upon  enactment  of
        this legislation, all rights and benefits to the ordinary death benefits
        Susan  Gillinder would otherwise be entitled to receive shall be waived.
        Any payments received from such ordinary death benefit will be  deducted
        from the benefits payable under this legislation.
          If  this  bill  is  enacted during the 2021 legislative session, there
        would be a one-time cost to the  State  of  New  York  of  approximately
        $398,000.  This estimate is based on the assumption that payment will be
        made on March 1, 2022.
          Summary of relevant resources:
          Membership data as of March 31, 2020 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2020 actuari-
        al  valuation.    Distributions and other statistics can be found in the
        2020 Report of the Actuary and the 2020 Comprehensive  Annual  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2020
        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, 2020
        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  January  11,  2021,  and intended for use only
        during the  2021  Legislative  Session,  is  Fiscal  Note  No.  2021-39,
        prepared  by  the  Actuary  for  the New York State and Local Retirement
        System.