S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 7770                                                  A. 9996

                      S E N A T E - A S S E M B L Y

                              June 6, 2014
                               ___________

IN  SENATE -- Introduced by Sen. FARLEY -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Civil Service
  and Pensions

IN ASSEMBLY -- Introduced by COMMITTEE ON RULES -- (at request of M.  of
  A. Fahy, Tedisco, Steck) -- read once and referred to the Committee on
  Governmental Employees

AN  ACT  to authorize the widow of Roger J. Bailie to file a retroactive
  application for retirement with the New York state and  local  employ-
  ees' retirement system

  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, Roger J. Bailie, who was last
employed by the New York state department of  labor  as  a  director  of
finance,  shall  be  deemed  eligible  for  a service retirement benefit
effective May 6, 2014, notwithstanding the fact that he died on  May  6,
2014.  Within  one  year  from  the  effective date of this act, Lori A.
Bailie, the widow of Roger J.  Bailie,  may  file  with  the  retirement
system an application for service retirement benefits on behalf of Roger
J.    Bailie  with an effective date of retirement of May 6, 2014 and an
option election form electing to receive retirement benefits pursuant to
the terms of the joint allowance - full option with Lori A.   Bailie  as
the  beneficiary.  The  filing  of a service retirement application will
constitute a waiver of any rights or  benefits  to  the  ordinary  death
benefit  payable  upon  the  death  of  a  member in service pursuant to
sections 508 or 606 of the  retirement  and  social  security  law.  Any
amounts  paid by the retirement system to Roger J. Bailie, his estate or
to Lori A. Bailie prior to the filing of  the  application  for  service
retirement shall be deducted from the 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.
  FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

                                                           LBD15363-02-4

S. 7770                             2                            A. 9996

  This bill would deem Roger J. Bailie eligible  to  receive  a  service
retirement  benefit  effective  on May 6, 2014, notwithstanding the fact
that he died on May 6, 2014. Lori A. Bailie shall be authorized to  file
for  the  service  retirement  benefit  on  his behalf. Further, Lori A.
Bailie 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 legislation.
  If  this  bill is enacted, there would be a one-time cost to the State
of New York of approximately $779,000. 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 June 4, 2014, and intended for  use  only  during
the  2014  Legislative Session, is Fiscal Note No. 2014-145, prepared by
the Actuary for the New  York  State  and  Local  Employees'  Retirement
System.