S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9666
 
                           I N  A S S E M B L Y
 
                              March 28, 2022
                                ___________
 
 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 workers' compensation. The current benefit is
 two-thirds of final average salary minus workers' compensation.
   If this bill is enacted during the 2022 legislative session, we antic-
 ipate that there will be an increase  in  the  annual  contributions  of
 electing  counties  of 0.2% of the compensation of their deputy sheriffs
 for the fiscal year ending March 31, 2023. In future  years,  this  cost
 will  vary  as the billing rates and salary of the affected deputy sher-
 iffs change.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately 1.0% of the compensation
 of such deputy sheriffs which will be borne by the electing county as  a
 one-time  payment. This estimate is based on the assumption that payment
 will be made on February 1, 2023.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD08520-04-2
 A. 9666                             2
 
   These estimated costs are based on 2,790 deputy sheriffs  with  annual
 salary of approximately $251.8 million as of March 31, 2021.
   Summary of relevant resources:
   Membership  data as of March 31, 2021 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2021 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2021  Report  of the Actuary and the 2021 Comprehensive Annual Financial
 Report.
   The actuarial assumptions and methods used are described in  the  2020
 and  2021 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, 2021
 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 February 25, 2022,  and  intended  for  use  only
 during  the  2022  Legislative  Session,  is  Fiscal  Note  No. 2022-72,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.