S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3052
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 2, 2023
                                ___________
 
 Introduced  by  M. of A. WALLACE, NORRIS, McMAHON, CONRAD, BURKE -- read
   once and referred to the Committee on Governmental Employees
 
 AN ACT to deem an application filed with the New York  state  and  local
   police  and fire retirement system by the widow of Lawrence Lakeman as
   timely filed

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Notwithstanding  the provisions of any general or special
 law, rule or regulation to the contrary, an application  for  conversion
 of  service  or  disability  retirement to accidental death benefits for
 victims of the 2001 World Trade Center disaster filed by  Audra  Lakeman
 with  the New York state and local police and fire retirement system, on
 behalf of her deceased  husband  Lawrence  Lakeman  who  was  previously
 employed by the New York State Police as a trooper and who was granted a
 disability  retirement  benefit  on  April  24,  2007  which pursuant to
 section 361 of the retirement and social security law had  to  be  filed
 with such retirement system by August 24, 2009 but was filed on December
 16, 2016 shall be considered timely filed.
   §  2.  All  costs  of implementing the provisions of this act shall be
 borne 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 the Application  for  Conversion  of  Service  or
 Disability  Retirement  to  Accidental  Death Benefit for Victims of the
 2001 World Trade Center Disaster originally filed by Audra Lakeman,  the
 beneficiary of deceased police officer Lawrence Lakeman's performance of
 duty  disability  benefit,  on  December  16,  2016  to be timely filed.
 Lawrence Lakeman died on August 24, 2007. Such application  for  conver-
 sion  is  required  to  be filed within two years of a retiree's date of
 death as provided in Section 361 of the Retirement and  Social  Security
 Law.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00554-02-3
              

 A. 3052                             2
 
   If  this  bill  is  enacted during the 2023 legislative session, there
 will be an immediate past service cost of  approximately  $4.87  million
 which will be borne by the State of New York as a one-time payment. This
 estimate assumes that payment will be made on March 1, 2024.
   Summary of relevant resources:
   Membership  data as of March 31, 2022 was used in measuring the impact
 of the proposed change, the same data used in the April 1, 2022 actuari-
 al valuation. Distributions and other statistics can  be  found  in  the
 2022  Report  of the Actuary and the 2022 Annual Comprehensive Financial
 Report.
   The actuarial assumptions and methods used are described in the  2020,
 2021,  and  2022  Annual  Report to the Comptroller on Actuarial Assump-
 tions, 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, 2022
 New  York  State  and  Local  Retirement System Financial Statements and
 Supplementary Information.
   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 13,  2023,  and  intended  for  use  only
 during the 2023 Legislative Session, is Fiscal Note No. 2023-8, prepared
 by the Actuary for the New York State and Local Retirement System.