S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10254
 
                           I N  A S S E M B L Y
 
                               April 8, 2020
                                ___________
 
 Introduced by M. of A. ABBATE -- read once and referred to the Committee
   on Governmental Employees
 
 AN  ACT  to amend the retirement and social security law, in relation to
   accidental disability retirement for deputy sheriffs
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. Paragraph 3 of subdivision e of section 556 of the retire-
 ment and social security law, as added by chapter 165  of  the  laws  of
 1995, is amended to read as follows:
   3.  A  pension  of  two-thirds  of  his  or  her final average salary;
 PROVIDED, HOWEVER, A DEPUTY SHERIFF SHALL RECEIVE A  PENSION  OF  THREE-
 QUARTERS  OF  HIS  OR HER FINAL AVERAGE SALARY IF SUCH DEPUTY SHERIFF IS
 EMPLOYED BY AN EMPLOYER THAT HAS ELECTED  TO  PROVIDE  SUCH  BENEFIT  TO
 DEPUTY  SHERIFFS.  The  payment  of such pension shall be subject to the
 provisions of section [three hundred] sixty-four of this chapter.
   § 2. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would allow employers to elect  to  provide  improved  acci-
 dental  disability  pensions  to  deputy sheriffs who are covered by the
 provisions of Article 14-B of the Retirement and  Social  Security  Law.
 The  benefit  for  an  accidental  disability would be three-quarters of
 final average salary minus worker's compensation. The current benefit is
 two-thirds of final average salary minus worker's compensation.
   If this bill is enacted, the estimated increase in the annual contrib-
 utions of electing counties would be 0.3% of the compensation  of  their
 deputy  sheriffs  for  the  fiscal  year  ending  March 31, 2021. In the
 future, this cost will vary as  the  billing  rates  of  those  affected
 change.
   In addition to the annual contributions discussed above, there will be
 a  past service cost of 0.9% of the compensation of such deputy sheriffs
 which will be paid by such electing counties as a one-time payment. This
 estimate is based on the assumption that payment will be made on  Febru-
 ary 1, 2021.
   Summary of relevant resources:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD08061-03-0

 A. 10254                            2
 
   The  membership  data  used  in  measuring  the impact of the proposed
 change was the same as that used in the March 31, 2019  actuarial  valu-
 ation.  Distributions  and  other  statistics  can  be found in the 2019
 Report of the  Actuary  and  the  2019  Comprehensive  Annual  Financial
 Report.
   The  actuarial assumptions and methods used are described in the 2015,
 2016, 2017, 2018 and 2019 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, 2019
 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 March 11, 2020, and intended for use only during
 the 2020 Legislative Session, is Fiscal Note No.  2020-91,  prepared  by
 the Actuary for the New York State and Local Retirement System.