S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7847--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 17, 2017
                                ___________
 
 Introduced by M. of A. BRABENEC, LAWRENCE -- Multi-Sponsored by -- M. of
   A.  CROUCH  -- read once and referred to the Committee on Governmental
   Employees -- recommitted to the Committee on Governmental Employees in
   accordance with Assembly Rule 3, sec. 2 -- committee discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to authorize Susan Gillinder, the widow of Robert C.  Ritchie, to
   file a new service retirement application  and  option  election  form
   with  the  New  York  state  and local employees' retirement system on
   behalf of such deceased member
 
   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 contra-
 ry, Susan Gillinder, the widow of Robert C. Ritchie, who was a member of
 the New York state and local  employees'  retirement  system,  who  died
 after he filed for retirement but prior to his selected retirement date,
 shall  be authorized to file a new service retirement application and an
 option election form on behalf of her  deceased  husband  with  a  joint
 allowance  full  option,  if, within one year from the effective date of
 this act, she shall submit a request therefor to the state  comptroller.
 In  addition, his date of retirement shall be deemed to have been August
 15, 2016. Once such application is received, any rights or  benefits  to
 the  pre-retirement  ordinary  death benefit payable upon the death of a
 member in service pursuant to section 448 of the retirement  and  social
 security law shall be waived. Any amounts paid by the New York state and
 local  employees' retirement system as the result of the death of Robert
 C.  Ritchie prior to the filing of the request for a service  retirement
 benefit  pursuant  to  this  section  shall be deducted from the service
 retirement benefit payable thereafter.
   § 2. Any additional costs for this act shall be paid by the  state  of
 New York.

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

                                                            LBD09029-05-7

 A. 7847--A                          2
 
   § 3. This act shall take effect immediately.
   FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
   This  bill  would  deem  deceased member Robert C. Ritchie eligible to
 receive a service retirement benefit effective on August 15, 2016. Susan
 Gillinder shall be authorized to file for the service retirement benefit
 on his behalf with a joint allowance full option. Upon enactment of this
 legislation, all rights and benefits  to  the  ordinary  death  benefits
 Susan  Gillinder would otherwise be entitled to receive shall be waived.
 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 $320,000. This estimate  is  based  on  the
 assumption that payment will be made on March 1, 2019.
   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, 2017  actuarial  valu-
 ation.    Distributions  and  other  statistics can be found in the 2017
 Report of the  Actuary  and  the  2017  Comprehensive  Annual  Financial
 Report.
   The  actuarial assumptions and methods used are described in the 2015,
 2016, and 2017 Annual Report to the  Comptroller  on  Actuarial  Assump-
 tions,  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, 2017
 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  November  15,  2017, and intended for use only
 during the 2018 Legislative Session, is Fiscal Note No. 2018-4, prepared
 by the Actuary for the New York State and Local Retirement System.