S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1607
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 14, 2021
                                ___________
 
 Introduced  by Sen. MARTUCCI -- read twice and ordered printed, and when
   printed to be committed to the Committee on Civil Service and Pensions
 
 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

 S. 1607                             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.