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

                                 7547--A

                            I N  S E N A T E

                              May 15, 2014
                               ___________

Introduced  by Sens. GALLIVAN, CARLUCCI -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Civil Service
  and Pensions -- committee discharged, bill amended, ordered  reprinted
  as amended and recommitted to said committee

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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15247-03-4
              

S. 7547--A                          2

  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:
  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.