Assembly Bill A8338

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8338
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 13, 2025
                                ___________
 
 Introduced  by  M.  of  A.  P. CARROLL  -- read once and referred to the
   Committee on Governmental Employees
 
 AN ACT in relation to authorizing Daniel Woolley  to  receive  an  acci-
   dental disability retirement
 
   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, Daniel Woolley,
 who was employed by the town of Clarkstown  as  a  police  officer  from
 February  1991 to February 2023 and who retired from service on February
 25, 2023, and who was diagnosed with an aortic aneurysm of the heart  on
 February  15,  2024,  and  who, as of the effective date of this act, is
 receiving a service retirement benefit from the New York state and local
 police and fire retirement system, shall be entitled  to  apply  for  an
 accidental  disability  retirement  from  the  New  York state and local
 police and fire retirement system pursuant to section 363 of the retire-
 ment and social security law if, within one year of the  effective  date
 of this act, he shall file a written request with the state comptroller.
   § 2. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This  bill  would  allow  Daniel Woolley, a service retiree of the New
 York State and Local Police and Fire Retirement  System  (NYSLPFRS),  to
 apply  for  an accidental disability retirement under section 363 of the
 Retirement and Social Security Law.
   If this bill is enacted during the  2025  Legislative  Session,  there
 will  be  an  immediate past service cost of approximately $86,900 as of
 February 1, 2026, which will be shared by the State of New York and  the
 local participating employers in NYSLPFRS and spread over future billing
 cycles.
   This  estimate  assumes  that  the New York State and Local Retirement
 System will approve Daniel Woolley for an accidental disability  retire-
 ment following their application pursuant to this legislation.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10096-06-5
              

 A. 8338                             2
 
   Summary of relevant resources:
   Membership  data as of March 31, 2024 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2024 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2024  Report  of the Actuary and the 2024 Annual Comprehensive Financial
 Report.  The actuarial assumptions and methods used are described in the
 2024 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, 2024 New York State and Local Retirement System Financial Statements
 and Supplementary Information.
   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 28, 2025, and intended for use only during
 the 2025 Legislative Session, is Fiscal  Note  No.  2025-165.  As  Chief
 Actuary  of  the  New  York  State and Local Retirement System, I, Aaron
 Schottin Young, hereby certify that this analysis complies with applica-
 ble Actuarial Standards of Practice as well as the Code of  Professional
 Conduct  and Qualification Standards for Actuaries Issuing Statements of
 Actuarial Opinion of the American Academy of Actuaries, of which I am  a
 member.