Senate Bill S5876

2023-2024 Legislative Session

Authorizes the beneficiaries of a member of the state and local employees' retirement system who die after filing a retirement application to choose pension benefits rather than a death benefit

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Current Bill Status - In Senate Committee Finance 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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Bill Amendments

2023-S5876 - Details

See Assembly Version of this Bill:
A6699
Current Committee:
Senate Finance
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §70, R & SS L
Versions Introduced in Other Legislative Sessions:
2019-2020: S5763, A7553
2021-2022: S4411, A6858

2023-S5876 - Summary

Authorizes the beneficiaries of a member of the state and local employees' retirement system who dies after filing a retirement application to choose pension benefits rather than a death benefit.

2023-S5876 - Sponsor Memo

2023-S5876 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5876
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              March 20, 2023
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- 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
   authorizing  the  beneficiaries  of  a  member  of the state and local
   employees' retirement system who die after filing a retirement  appli-
   cation to choose pension benefits rather than a death benefit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision a of section 70 of the  retirement  and  social
 security  law, as amended by chapter 375 of the laws of 2011, is amended
 to read as follows:
   a. Any member may retire if he or she shall have attained at least the
 minimum retirement age while in service as a member, or while in federal
 service, or in the service of the United Nations or other  international
 organizations  of  which  the  United  States  is  a member, as a member
 continued pursuant to paragraph one of subdivision f of section forty of
 this article, or while entitled to make application for a vested retire-
 ment allowance pursuant to section seventy-six of this title.  Any  such
 member desiring to retire shall execute and file with the comptroller an
 application  for  retirement,  which shall specify the effective date of
 his or her retirement, which shall be not less  than  fifteen  nor  more
 than  ninety  days subsequent to such date of filing. An application for
 service retirement, filed hereunder in accordance with the provisions of
 subdivision c of section sixty-two or subdivision f  of  section  sixty-
 three  of  this  article,  shall  be  processed  in  the regular manner,
 provided that if the application filed  simultaneously  therewith  under
 either  of  such  subdivisions  is  granted,  then and in that event the
 retirement allowance granted in accordance with the provisions  of  this
 section  shall  be  appropriately  adjusted.  NOTWITHSTANDING  ANY OTHER
 PROVISION OF LAW, FOR ANY MEMBER WHO IS ELIGIBLE TO RETIRE AND  WHO  HAS
 DIED  WHILE  IN  ACTIVE  SERVICE,  AND  WHO HAS FILED AN APPLICATION FOR
 SERVICE RETIREMENT LESS THAN THIRTY DAYS PRIOR TO  DEATH,  THE  MEMBER'S
 ACTIVE  BENEFICIARY SHALL HAVE THE OPTION TO CHOOSE THE DEATH BENEFIT OR
 IF SUCH MEMBER FILED AN OPTION ELECTION FORM PRIOR TO DEATH, THE BENEFIT
 
              

2023-S5876A (ACTIVE) - Details

See Assembly Version of this Bill:
A6699
Current Committee:
Senate Finance
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §70, R & SS L
Versions Introduced in Other Legislative Sessions:
2019-2020: S5763, A7553
2021-2022: S4411, A6858

2023-S5876A (ACTIVE) - Summary

Authorizes the beneficiaries of a member of the state and local employees' retirement system who dies after filing a retirement application to choose pension benefits rather than a death benefit.

2023-S5876A (ACTIVE) - Sponsor Memo

2023-S5876A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5876--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              March 20, 2023
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
   -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
   accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee
 
 AN  ACT  to amend the retirement and social security law, in relation to
   authorizing the beneficiaries of a  member  of  the  state  and  local
   employees'  retirement system who die after filing a retirement appli-
   cation to choose pension benefits rather than a death benefit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  a of section 70 of the retirement and social
 security law, as amended by chapter 375 of the laws of 2011, is  amended
 to read as follows:
   a. Any member may retire if he or she shall have attained at least the
 minimum retirement age while in service as a member, or while in federal
 service,  or in the service of the United Nations or other international
 organizations of which the United  States  is  a  member,  as  a  member
 continued pursuant to paragraph one of subdivision f of section forty of
 this article, or while entitled to make application for a vested retire-
 ment  allowance  pursuant to section seventy-six of this title. Any such
 member desiring to retire shall execute and file with the comptroller an
 application for retirement, which shall specify the  effective  date  of
 his  or  her  retirement,  which shall be not less than fifteen nor more
 than ninety days subsequent to such date of filing. An  application  for
 service retirement, filed hereunder in accordance with the provisions of
 subdivision  c  of  section sixty-two or subdivision f of section sixty-
 three of this  article,  shall  be  processed  in  the  regular  manner,
 provided  that  if  the application filed simultaneously therewith under
 either of such subdivisions is granted,  then  and  in  that  event  the

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07498-04-4
              

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