S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6534
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 13, 2023
                                ___________
 
 Introduced by M. of A. BRABENEC -- read once and referred to the Commit-
   tee on Governmental Employees
 
 AN ACT to authorize Susan Gillinder, the widow of Robert C.  Ritchie, to
   file  a  new  service  retirement application and option election form
   with the New York state and  local  employees'  retirement  system  on
   behalf of such deceased member

   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,
 Susan Gillinder, the widow of Robert C. Ritchie, who was a member of the
 New York state and local employees' retirement system, who died after he
 filed for retirement but prior to his selected retirement date, shall be
 authorized to file a new service retirement application  and  an  option
 election  form  on behalf of her deceased husband with a joint allowance
 full option, if, within one year from the effective date  of  this  act,
 she  shall  submit a request therefor to the state comptroller. In addi-
 tion, his date of retirement shall be deemed to  have  been  August  15,
 2016.  Once  such application is received, any rights or benefits to the
 pre-retirement ordinary death benefit payable upon the death of a member
 in service pursuant to section 448 of the retirement and social security
 law shall be waived. Any amounts paid by the New York  state  and  local
 employees'  retirement  system  as  the result of the death of Robert C.
 Ritchie prior to the filing of the  request  for  a  service  retirement
 benefit  pursuant  to  this  section  shall be deducted from the service
 retirement benefit payable thereafter.
   § 2. Any additional costs for this act shall be paid by the  state  of
 New York.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  deem  deceased member Robert C. Ritchie eligible to
 receive a service retirement benefit effective on August 15, 2016. Susan

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08909-02-3
              

 A. 6534                             2
 
 Gillinder shall be authorized to file for the service retirement benefit
 on Robert Ritchie's behalf with a  joint  allowance  full  option.  Upon
 enactment  of  this legislation, all rights and benefits to the ordinary
 death  benefits  Susan  Gillinder would otherwise be entitled to receive
 shall be waived. Any payments received from such ordinary death  benefit
 will be deducted from the benefits payable under this legislation.
   If  this  bill  is  enacted during the 2023 legislative session, there
 will be an immediate past service cost of approximately  $490,000  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, 2024.
   Summary of relevant resources:
   Membership  data as of March 31, 2022 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2022 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2022  Report  of the Actuary and the 2022 Annual Comprehensive Financial
 Report.
   The actuarial assumptions and methods used are described in the  2020,
 2021,  and  2022  Annual  Report to the Comptroller on Actuarial Assump-
 tions, 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, 2022
 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 April 11, 2023, and intended for use only  during
 the  2023  Legislative Session, is Fiscal Note No. 2023-116, prepared by
 the Actuary for the New York State and Local Retirement System.