S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6497
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 19, 2021
                                ___________
 
 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  contra-
 ry, 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 addition, 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.
              

                                                            LBD07271-02-1

 A. 6497                             2
 
 Gillinder shall be authorized to file for the service retirement benefit
 on  his  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 2021 legislative session, there
 would be a one-time cost to the  State  of  New  York  of  approximately
 $398,000.  This estimate is based on the assumption that payment will be
 made on March 1, 2022.
   Summary of relevant resources:
   Membership data as of March 31, 2020 was used in measuring the  impact
 of the proposed change, the same data used in the April 1, 2020 actuari-
 al  valuation.    Distributions and other statistics can be found in the
 2020 Report of the Actuary and the 2020 Comprehensive  Annual  Financial
 Report.
   The  actuarial  assumptions and methods used are described in the 2020
 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, 2020
 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  January  11,  2021,  and intended for use only
 during the  2021  Legislative  Session,  is  Fiscal  Note  No.  2021-39,
 prepared  by  the  Actuary  for  the New York State and Local Retirement
 System.