NY State Assembly Bill A6511

Archive: Last Bill Status Via S3759 - Signed by Governor

Introduced
In Committee
On Floor Calendar
- Passed Senate
- Passed Assembly
Delivered to Governor
Signed by Governor

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Actions

view actions (13)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Oct 29, 2021	signed chap.529
Oct 18, 2021	delivered to governor
Jun 09, 2021	returned to senate passed assembly home rule request ordered to third reading rules cal.667 substituted for a6511
Jun 09, 2021	substituted by s3759 rules report cal.667 reported reported referred to rules
Jun 02, 2021	reported referred to ways and means
Mar 19, 2021	referred to governmental employees

Votes

Co-Sponsors

A6511 (ACTIVE) - Details

See Senate Version of this Bill:: S3759
Law Section:: Retirement and Social Security Law
Laws Affected:: Add §§508-b & 606-b, R & SS L
Versions Introduced in 2019-2020 Legislative Session:: A9858, S7807

A6511 (ACTIVE) - Summary

Establishes a death benefit for deputy sheriffs employed by Nassau county entitling the sheriff's beneficiaries to receive in a lump sum an amount payable which shall equal the pension reserve that would have been established had the member retired on the date of his or her death.

A6511 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6511
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 19, 2021
                                ___________
 
 Introduced by M. of A. ABBATE -- read once and referred to the Committee
   on Governmental Employees
 
 AN  ACT  to amend the retirement and social security law, in relation to
   establishing a death benefit for deputy sheriffs  employed  by  Nassau
   county
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The retirement and social security law is amended by adding
 a new section 508-b to read as follows:
   § 508-B. DEATH BENEFIT FOR DEPUTY SHERIFFS EMPLOYED BY NASSAU  COUNTY.
 NOTWITHSTANDING  ANY  PROVISION  OF  LAW TO THE CONTRARY, WHERE A DEPUTY
 SHERIFF WOULD HAVE BEEN ENTITLED TO A SERVICE RETIREMENT BENEFIT AT  THE
 TIME  OF  HIS OR HER DEATH AND WHERE HIS OR HER DEATH OCCURS ON OR AFTER
 THE EFFECTIVE DATE OF THIS SECTION, THE BENEFICIARY OR BENEFICIARIES MAY
 ELECT TO RECEIVE, IN A LUMP SUM, AN AMOUNT PAYABLE WHICH SHALL BE  EQUAL
 TO  THE  PENSION RESERVE THAT WOULD HAVE BEEN ESTABLISHED HAD THE MEMBER
 RETIRED ON THE DATE OF HIS OR HER DEATH, OR THE VALUE OF THE DEATH BENE-
 FIT AND THE RESERVE-FOR-INCREASED-TAKE-HOME-PAY, IF  ANY,  WHICHEVER  IS
 GREATER.
   § 2. The retirement and social security law is amended by adding a new
 section 606-b to read as follows:
   §  606-B. DEATH BENEFIT FOR DEPUTY SHERIFFS EMPLOYED BY NASSAU COUNTY.
 NOTWITHSTANDING ANY PROVISION OF LAW TO THE  CONTRARY,  WHERE  A  DEPUTY
 SHERIFF  WOULD HAVE BEEN ENTITLED TO A SERVICE RETIREMENT BENEFIT AT THE
 TIME OF HIS OR HER DEATH AND WHERE HIS OR HER DEATH OCCURS ON  OR  AFTER
 THE EFFECTIVE DATE OF THIS SECTION, THE BENEFICIARY OR BENEFICIARIES MAY
 ELECT  TO RECEIVE, IN A LUMP SUM, AN AMOUNT PAYABLE WHICH SHALL BE EQUAL
 TO THE PENSION RESERVE THAT WOULD HAVE BEEN ESTABLISHED HAD  THE  MEMBER
 RETIRED ON THE DATE OF HIS OR HER DEATH, OR THE VALUE OF THE DEATH BENE-
 FIT  AND  THE  RESERVE-FOR-INCREASED-TAKE-HOME-PAY, IF ANY, WHICHEVER IS
 GREATER.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD04830-02-1

 A. 6511                             2
 
   §  3.  All  past  service  costs  associated  with  implementing   the
 provisions  of this act shall be borne by Nassau County and may be amor-
 tized over a period of ten years.
   § 4. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill would modify the in-service death benefit for Nassau County
 Deputy Sheriffs who are retirement eligible in tiers 3 through 6 of  the
 New  York  State  and Local Employees' Retirement System. The in-service
 death benefit will be the value of the pension reserve as if the  member
 had retired on their date of death.
   If this bill is enacted during the 2021 legislative session, we antic-
 ipate  that  there  will  be  an increase of approximately $5,000 in the
 annual contributions of Nassau County for the fiscal year  ending  March
 31,  2022. In future years, this cost will vary as the billing rates and
 salary of the affected members change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $67,300  which  will  be
 borne  by Nassau County as a one-time payment. This estimate is based on
 the assumption that payment will be made on February 1, 2022. If  Nassau
 County  elects to amortize this cost over a 10 year period, the cost for
 the first year including interest would be $8,880.
   These estimated costs are based on 57  affected  members  employed  by
 Nassau  County,  with  annual salary of approximately $6.1 million as of
 March 31, 2020.
   Summary of relevant resources:
   Membership data as of March 31, 2020 was used in measuring the  impact
 of the proposed change, the same data used in the April 1, 2020 actuari-
 al  valuation.  Distributions  and  other statistics can be found in the
 2020 Report of the Actuary and the 2020 Comprehensive  Annual  Financial
 Report.
   The  actuarial  assumptions and methods used are described in the 2020
 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, 2020
 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  fiscal note does not constitute a legal opinion on the viability
 of the proposed change nor is it intended to serve as a  substitute  for
 the professional judgment of an attorney.
   This estimate, dated January 8, 2021, and intended for use only during
 the 2021 Legislative Session, is Fiscal Note No. 2021-9, prepared by the
 Actuary for the New York State and Local Retirement System.

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The New York State Senate

assembly Bill A6511

Sponsored By

Archive: Last Bill Status Via S3759 - Signed by Governor

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Votes

Jun 8, 2021 - floor Vote

Floor Vote: Jun 8, 2021

Jun 7, 2021 - Rules committee Vote

Committee Vote: Jun 7, 2021

Co-Sponsors

A6511 (ACTIVE) - Details

A6511 (ACTIVE) - Summary

A6511 (ACTIVE) - Bill Text download pdf

Comments

assembly Bill A6511

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Sponsored By

ABBATE

Archive: Last Bill Status Via S3759 - Signed by Governor

Your Voice

Actions

Votes

Jun 8, 2021 - floor Vote

Floor Vote: Jun 8, 2021

Jun 7, 2021 - Rules committee Vote

Committee Vote: Jun 7, 2021

Co-Sponsors

Judy Griffin

Michael Durso

A6511 (ACTIVE) - Details

A6511 (ACTIVE) - Summary

A6511 (ACTIVE) - Bill Text download pdf

Comments