S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6796
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 17, 2021
                                ___________
 
 Introduced  by  Sen.  BROOKS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 AN ACT to amend the retirement and social security law, in  relation  to
   death benefits for deputy sheriffs employed by Suffolk 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 BENEFITS FOR DEPUTY SHERIFFS EMPLOYED BY SUFFOLK  COUN-
 TY. 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 BENEFITS FOR DEPUTY SHERIFFS EMPLOYED BY SUFFOLK  COUN-
 TY. 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.
                                                            LBD06764-02-1
              

 S. 6796                             2
 
   § 3. Notwithstanding any other provision of law to the contrary,  none
 of  the  provisions  of  this  act shall be subject to the appropriation
 requirement of section 25 of the retirement and social security law.
   §  4. All past service costs associated with this act shall be paid by
 Suffolk county.
   § 5. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would modify the in-service death benefit for Suffolk 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 $29,000 in the
 annual contributions of Suffolk County for the fiscal year ending  March
 31,  2022. In future years, this cost will vary as the billing rates and
 salaries of those affected change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $384,000 which  will  be
 borne by Suffolk County as a one-time payment. This estimate is based on
 the assumption that payment will be made on February 1, 2022.
   These  estimated  costs  are based on 247 affected members employed by
 Suffolk County, with annual salary of approximately $35  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 May 11, 2021, and intended for  use  only  during
 the  2021  Legislative Session, is Fiscal Note No. 2021-136, prepared by
 the Actuary for the New York State and Local Retirement System.