NY State Senate Bill 2017-S5849

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2018	referred to civil service and pensions
May 03, 2017	referred to civil service and pensions

2017-S5849 (ACTIVE) - Details

See Assembly Version of this Bill:: A6318
Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement
Versions Introduced in 2015-2016 Legislative Session:: S6781, A7953

2017-S5849 (ACTIVE) - Summary

Authorizes the widow of Robert A. Serroen to change his retirement option.

2017-S5849 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S5849

 TITLE OF BILL :  An act authorizing the widow of Robert A. Serroen to
change his retirement option

 PURPOSE :

This bill will permit Gina M. Serroen, the widow of Robert A.
Serroen, to change the retirement option of her husband.

 SUMMARY OF PROVISIONS :

This bill provides that Gina M. Serroen, the widow of Robert A.
Serroen, would be eligible to change the retirement option of her
husband. Section two of this bill would provide that the costs
associated with the act would be borne by the County of Nassau.
Section three provides that the act would take effect immediately and
be deemed to have been in full force and effect on and after December
17, 2011, the date of Robert A.  Serroen's death.

 JUSTIFICATION :

This act is designed to provide financial assistance to the widow of
Robert A. Serroen, who retired from the Nassau County Sheriffs
Department on December 17, 2011 following many years of dedicated
service and died suddenly on May 12, 2013 at the age of 56, a mere 17

months after his retirement. At the time of his retirement, Mr.
Serroen was caring for two daughters living at home, his elderly
mother, and his disabled brother who was living next door. Mr.
Serroen initially selected the Pop Up/Joint Allowance - 25% option
(providing for a 25% death benefit to the surviving spouse), but
planned to change it within the 30-day period for changing an option
selection. Unfortunately, on account of his familial obligations, Mr.
Serroen missed the 30-day window for changing his option by only a few
days. When he inquired about doing so a few days after the window had
closed, he was told that it was too late. This misstep coupled with
Mr. Serroen's premature death, has left his widow with a fraction of
the retirement benefit which she would have received had he been
allowed to change his retirement option in life.

 LEGISLATIVE HISTORY :

New bill.

 FISCAL IMPLICATIONS :

See Fiscal Note.

 EFFECTIVE DATE :
This act shall take effect immediately and shall be deemed in full
force and effect on and after December 17, 2011.

2017-S5849 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5849
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                                May 3, 2017
                                ___________
 
 Introduced  by  Sen.  MARCELLINO  -- read twice and ordered printed, and
   when printed to be committed to the Committee  on  Civil  Service  and
   Pensions
 
 AN  ACT authorizing the widow of Robert A. Serroen to change his retire-
   ment option
 
   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,
 Gina M. Serroen, the widow of Robert A. Serroen, who was employed by the
 Nassau  County  Sheriff's  Department  and was retired from the New York
 state and local employees'  retirement  system  effective  December  17,
 2011,  and  for  reasons  not ascribable to his own negligence failed to
 change his retirement option selection prior to the expiration of thirty
 days following the date of payability of his retirement allowance, shall
 be authorized to file  such  option  election  form  on  behalf  of  her
 deceased  husband  to  a joint allowance full option, if within one year
 from the effective date of this act, she files a written request to that
 effect with the state comptroller.
   § 2. The costs associated with implementing the provisions of this act
 shall be borne by the County of Nassau.
   § 3. This act shall take effect immediately and  shall  be  deemed  to
 have been in full force and effect on and after December 17, 2011.
   FISCAL NOTE. -- Pursuant to Legislative Law, Section 50:
   This  bill  would  retroactively  change  the  retirement  option  for
 deceased retiree Robert A. Serroen who retired on December 17, 2011  and
 died on May 12, 2013. The current retirement option, pop up joint allow-
 ance  25%,  would  be  changed  to the retirement option joint allowance
 full. The bill will be deemed to have been in  effect  on  his  date  of
 retirement.
   If this bill is enacted, we anticipate that there will be an immediate
 past  service  cost  of  approximately  $811,000 which would be borne by
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD09859-02-7

 S. 5849                             2
 
 Nassau County as a one-time payment.  This  estimate  is  based  on  the
 assumption that payment will be made on February 1, 2018.
   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, 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  February  16,  2017, and intended for use only
 during the  2017  Legislative  Session,  is  Fiscal  Note  No.  2017-62,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.

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Senate Bill S5849

Sponsored By

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee

2017-S5849 (ACTIVE) - Details

2017-S5849 (ACTIVE) - Summary

2017-S5849 (ACTIVE) - Sponsor Memo

2017-S5849 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S5849

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Sponsored By

Carl L. Marcellino

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee

2017-S5849 (ACTIVE) - Details

2017-S5849 (ACTIVE) - Summary

2017-S5849 (ACTIVE) - Sponsor Memo

2017-S5849 (ACTIVE) - Bill Text download pdf

Comments