Senate Bill S3328

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3328
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2017
                                ___________
 
 Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 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.
   § 2. All costs associated with the implementation of the provisions of
 this act shall be borne by the city of Syracuse.
   § 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.
   If this bill is enacted, there will be a one-time past service cost to
 the city of Syracuse of $414,000, assuming a payment date of February 1,
 2018.
   Summary of relevant resources:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05521-02-7
              

 S. 3328                             2
 
   The  membership  data  used  in  measuring  the impact of the proposed
 change was the same as that used in the March 31, 2016  actuarial  valu-
 ation.    Distributions  and  other  statistics can be found in the 2016
 Report of the  Actuary  and  the  2016  Comprehensive  Annual  Financial
 Report.
   The  actuarial  assumptions and methods used are described in the 2015
 and 2016 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, 2016
 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  17,  2017,  and intended for use only
 during the  2017  Legislative  Session,  is  Fiscal  Note  No.  2017-15,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.