Senate Bill S5816

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

                                  5816

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 17, 2013
                               ___________

Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT in relation to authorizing James Mallan to apply for an  increase
  in his disability pension

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Notwithstanding any provision of law to the contrary, James
Mallan who commenced employment with the state department of correction-
al services on May 30, 1988, and who through no negligence  of  his  own
was  disabled  while  completing his training at the academy on June 29,
1988 and who was granted disability retirement in  April  1990  at  one-
third  of  his final salary, and who was reinstated by the state depart-
ment of corrections and community supervision, shall have his retirement
benefits calculated based on his final average salary at the time of his
application for disability retirement benefits on February 28, 2008,  if
he  shall  file an application therefor with the state comptroller on or
before December 31, 2013.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.-- This bill  will  deem  James  T.  Mallan,  currently  a
Section  507-a  disability retiree receiving an annual benefit of 1/3 of
final average salary earned as of  April,  1990,  to  have  his  pension
recalculated  based  on his final average salary with the New York State
Department of Correctional Services earned as of February, 2008.
  If this bill is enacted, we anticipate  that  there  will  be  a  past
service  cost of approximately $141,000 which will be borne by the State
of New York and all the participating employers in the  New  York  State
and Local Employees' Retirement System.
  Summary of relevant resources:
  Data:  March  31,  2012  Actuarial Year End File with distributions of
membership and other statistics displayed in  the  2012  Report  of  the
Actuary and 2012 Comprehensive Annual Financial Report.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10707-02-3
              

S. 5816                             2

  Assumptions  and  Methods:  2010,  2011  and 2012 Annual Report to the
Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the
State of New York: Audit and Control.
  Market  Assets and GASB Disclosures: March 31, 2012 New York State and
Local Retirement System Financial Statements and Supplementary  Informa-
tion.
  Valuations  of Benefit Liabilities and Actuarial Assets: summarized in
the 2012 Actuarial Valuations report.
  I am a member of the American Academy of Actuaries and meet the Quali-
fication Standards to render the actuarial opinion contained herein.
  This estimate, dated May 23, 2013 and intended for use only during the
2013 Legislative Session, is Fiscal Note No. 2013-157, prepared  by  the
Actuary for the New York State and Local Employees' Retirement System.