Senate Bill S4120A

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

                                 4120--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              March 2, 2015
                               ___________

Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions
  -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
  accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN ACT to grant Donald E. Pikarsky eligibility for accidental disability
  retirement benefits

  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,
Donald  E.  Pikarsky,  a retiree receiving pension benefits from the New
York police and fire retirement system since March 31, 2001,  who  prior
to  his  retirement, through no negligence of his own, became physically
incapacitated for performance of duty while actually in service  in  his
public  employment  by the city of Syracuse police department, a partic-
ipating employer, shall be deemed entitled to an  accidental  disability
retirement  allowance,  pursuant  to  section  363 of the retirement and
social security law, on and after March 31, 2001, if within one year  of
the  effective  date  of this act, he files an application therefor with
the state comptroller.
  S 2. All costs associated with the implementation of the provisions of
this act shall be borne by the city of Syracuse.
  S 3. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill will deem Donald E. Pikarsky,  a  service  retiree  who  was
formerly  employed  as  a  police officer of the city of Syracuse, to be
entitled to receive a 75% of final average salary accidental  disability
benefit.  The  improved  pension  will  be  payable  retroactive  to his
original date of retirement of March 31, 2001.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08817-05-6

              

S. 4120--A                          2

  If this bill is enacted, there will be a one-time past service cost to
the city of Syracuse of $402,000, assuming a payment date of February 1,
2017.
  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, 2015  actuarial  valu-
ation.    Distributions  and  other  statistics can be found in the 2015
Report of the  Actuary  and  the  2015  Comprehensive  Annual  Financial
Report.
  The  actuarial  assumptions and methods used are described in the 2015
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, 2015
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  estimate,  dated  January  28,  2016,  and intended for use only
during the  2016  Legislative  Session,  is  Fiscal  Note  No.  2016-49,
prepared  by  the  Actuary  for  the New York State and Local Retirement
System.