S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6985--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             April 16, 2015
                               ___________

Introduced  by  M. of A. STEC -- read once and referred to the Committee
  on Governmental Employees -- recommitted to the Committee  on  Govern-
  mental Employees in accordance with Assembly Rule 3, sec. 2 -- commit-
  tee  discharged, bill amended, ordered reprinted as amended and recom-
  mitted to said committee

AN ACT to authorize the payment of ordinary disability retirement  bene-
  fits by the New York state teachers' retirement system to the widow of
  Lawrence L.  Allen

  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,
Christine M. Allen, the widow of Lawrence L. Allen, who was a member  of
the  New York state teachers' retirement system, who prior to his death,
in the presence of a notary public, completed and mailed an  application
for  an ordinary disability retirement and a retirement election form to
the New York state teachers' retirement system, and who died before  the
application  was  received  by  the  New York state teachers' retirement
system, shall be authorized to re-file such application and election  on
behalf  of  her deceased husband, if within 1 year of the effective date
of this act she shall file a request therefor with the retirement  board
of the New York state teachers' retirement system.  Such application for
an  ordinary  disability retirement and retirement option election shall
be deemed to have become effective on March  18,  1999.  All  retirement
benefits payable pursuant to the provisions of this act shall be paid to
Christine  M.  Allen  and  shall  be in lieu of any other death benefits
payable.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
  This bill would allow Christine M. Allen, the  widow  of  Lawrence  L.
Allen who was a Tier 1 member of the New York State Teachers' Retirement
System  who  had applied for a disability retirement and died before the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06419-05-6
              

A. 6985--A                          2

application was received by the  New  York  State  Teachers'  Retirement
System,  to  re-file such application on behalf of her deceased husband.
She must file a request with the head of the New  York  State  Teachers'
Retirement  System  within  one  year of the effective date of this act.
Such application for disability  retirement  shall  be  deemed  to  have
become  effective on March 18, 1999, and the death benefit payable would
therefore be in accordance with the option election, and not the  active
member  death benefit. The benefit payable pursuant to the provisions of
this bill shall be paid to Christine M. Allen and  be  in  lieu  of  any
other death benefit.
  The  cost  for  this  benefit  is equal to the increase in the present
value of benefits, which is estimated to be $260,000.
  Employee data is from the System's  most  recent  actuarial  valuation
files,  consisting  of  data provided by the employers to the Retirement
System.  Data distributions and statistics can be found in the  System's
Comprehensive  Annual  Financial  Report  (CAFR).  System  assets are as
reported in the System's financial statements, and can also be found  in
the CAFR. Actuarial assumptions and methods are provided in the System's
Actuarial Valuation Report.
  The source of this estimate is Fiscal Note 2016-16 dated March 4, 2016
prepared  by  the  Actuary  of  the  New York State Teachers' Retirement
System and is intended for use only during the 2016 Legislative Session.
I, Richard A. Young, am the Actuary for the  New  York  State  Teachers'
Retirement  System.  I  am a member of the American Academy of Actuaries
and I meet the Qualification Standards of the American Academy of  Actu-
aries to render the actuarial opinion contained herein.