S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5824--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 23, 2023
                                ___________
 
 Introduced  by M. of A. WALLACE -- read once and referred to the Commit-
   tee 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 committee

 AN  ACT  granting  Lawrence  Korzeniewski,  the statutory beneficiary of
   Janice Korzeniewski, accidental death benefits
 
   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 the retirement and
 social security law or of any general,  special  or  local  law  to  the
 contrary,  Lawrence  Korzeniewski,  the  statutory beneficiary of Janice
 Korzeniewski, a member of  the  New  York  state  and  local  employees'
 retirement  system, who as directed by her employer worked from March 1,
 2020 through April 16, 2020 and who contracted  COVID-19  within  forty-
 five  days of reporting to work and died from the disease on October 19,
 2020, as documented on such member's death certificate, shall be  deemed
 eligible  to  request  conversion  of the member's service or disability
 retirement benefit into an accidental death benefit, if within one  year
 of the effective date of this act, he shall have filed a written request
 with the state comptroller.
   § 2. All past service costs of implementing the provisions of this act
 shall be borne by the state of New York.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would allow Lawrence Korzeniewski, the statutory beneficiary
 of deceased retiree Janice Korzeniewski, to request conversion of Janice
 Korzeniewski's service retirement benefit into an accidental death bene-
 fit.  Janice  Korzeniewski  retired  from  the  New York State and Local
 Employees' Retirement System effective  August  10,  2020.  The  service
 retirement  benefit is not currently eligible for conversion pursuant to
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04230-04-4
              

 A. 5824--A                          2
 
 § 607-i of the Retirement and Social Security Law,  which  requires  the
 deceased to have retired prior to July 1, 2020.
   If  this  bill  is  enacted during the 2024 Legislative Session, there
 will be an immediate past service cost of approximately  $174,000  which
 will be borne by the State of New York as a one-time payment. This esti-
 mate assumes that payment will be made on March 1, 2025.
   Summary of relevant resources:
   Membership  data as of March 31, 2023 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2023 actuari-
 al valuation.  Distributions and other statistics can be  found  in  the
 2023  Report  of the Actuary and the 2023 Annual Comprehensive Financial
 Report.
   The actuarial assumptions and methods used are described in  the  2023
 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, 2023
 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 10,  2024,  and  intended  for  use  only
 during  the  2024  Legislative  Session,  is  Fiscal  Note  No. 2024-54,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.