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:

  Section 1. Notwithstanding the provisions of any  general  or  special
law,  rule  or regulation to the contrary, Richard O'Brien, who was last
employed by the New York state division of state police as  an  investi-
gator,  and  who was a member of the New York state and local police and
fire retirement system at the time of his death on December 7, 2009, and
who, for reasons not ascribed to his own negligence, failed  to  file  a
timely  application  for  the state police disability retirement benefit
provided by section 363-b of the  retirement  and  social  security  law
prior  to his death, shall be deemed to have timely filed an application
for the benefit on December 7, 2009 if, within one year of the effective
date of this act, Stephanie O'Brien, the widow of Richard O'Brien, files
with the state comptroller a  written  request  to  that  effect  and  a
retirement  option election form electing to receive retirement benefits
pursuant to the terms of the joint allowance-full option with  Stephanie
O'Brien  as the option beneficiary. The approval of said application for
a disability retirement benefit provided by section 363-b of the retire-
ment and social security law will constitute a waiver of any  rights  or
benefits  to  the pre-retirement ordinary death benefit payable upon the
death of a member in service pursuant to subdivision b of section 448 of
the retirement and social security law. Any amounts paid by the  retire-
ment  system  as  the result of the death of Richard O'Brien, whether to
his estate, to Stephanie O'Brien or to any other  beneficiary  prior  to
the filing of the request for the disability retirement benefit shall be
deducted from the disability retirement benefit payable thereafter.
  S  2.  Any additional costs for this act shall be paid by the state of
New York.
  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.