Assembly Bill A10640

2017-2018 Legislative Session

Relates to authorizing the son of Barry M. Dennis to be designated the beneficiary of his retirement benefits

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A10640 (ACTIVE) - Details

See Senate Version of this Bill:
S8264
Current Committee:
Assembly Governmental Employees
Law Section:
Retirement
Versions Introduced in 2019-2020 Legislative Session:
A7426, S3474

2017-A10640 (ACTIVE) - Summary

Relates to authorizing the son of Barry M. Dennis, Gregory Dennis, to be designated the beneficiary of his retirement benefits by Bruce M. Dennis acting in his capacity as power of attorney.

2017-A10640 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10640
 
                           I N  A S S E M B L Y
 
                               May 10, 2018
                                ___________
 
 Introduced  by M. of A. RA -- read once and referred to the Committee on
   Governmental Employees
 
 AN ACT in relation to authorizing the son  of  Barry  M.  Dennis  to  be
   designated the beneficiary of his retirement benefits
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Notwithstanding any other provision of law to the contrary,
 Gregory Dennis, who had been named as the survivor  beneficiary  of  his
 father Barry M.  Dennis, a former employee of the Nassau County district
 attorney's  office,  on  June  7,  2017 by Bruce M. Dennis acting in his
 capacity as power of attorney for his brother Barry  and  who  had  been
 confirmed  as  the  beneficiary  in a letter from the New York state and
 local employees' retirement system dated June 19, 2017 and who was later
 informed in a letter dated July 14, 2017 which was received by Bruce  M.
 Dennis  on  July  19,  2017  that as a result of a statutory gifts rider
 pursuant to section 5-1514 of the general obligations law not  adjoining
 the  statutory  short  form power of attorney that the paper work naming
 Gregory Dennis as the beneficiary was not properly submitted  and  as  a
 result the only option that was legally available to Barry M. Dennis was
 "Option  0"  wherein  no beneficiary is selected and the pension benefit
 cease upon the death of the member, shall be deemed the  beneficiary  of
 the retirement benefits of Barry M. Dennis as if such required statutory
 gifts  rider  had  been  present,  and shall receive the option that was
 selected on the option election form that was rejected due to the  unac-
 ceptable  power  of attorney, if on or before December 31, 2018 Bruce M.
 Dennis shall submit a request therefor to the state comptroller.
   § 2. Any amounts paid by the  New  York  state  and  local  employees'
 retirement  system  to  Barry  M. Dennis, his estate or to his benefici-
 aries, which exceed those amounts that would have been payable  if  such
 required  statutory  gift rider had been present, will be deducted on an
 actuarially equivalent basis over the expected future lifetime of Grego-
 ry Dennis from the benefits payable to him pursuant to this act.
   § 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
              

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