S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5714--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 22, 2023
                                ___________
 
 Introduced  by  M.  of  A.  PHEFFER AMATO, SANTABARBARA -- read once and
   referred to the Committee on Governmental Employees -- recommitted  to
   the  Committee  on  Governmental Employees in accordance with Assembly
   Rule  3,  sec.  2  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee

 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 county employers to elect  to  provide  improved
 accidental  disability  pensions  to  deputy  sheriffs  covered  by  the
 provisions of Article 14-B of the Retirement and  Social  Security  Law.
 The improved disability benefit would be three-quarters of final average
 salary  less  Workers'  Compensation.  The current disability benefit is
 two-thirds of final average salary less Workers' Compensation.
   If this bill is enacted during the 2024 Legislative Session, we antic-
 ipate that there will be an increase in the annual contributions of  any
 electing  county  of  0.2%  of  affected deputy sheriffs' salary for the
 fiscal year ending March 31, 2025. In future years, this cost will  vary
 as the billing rates and salary of the affected members change.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08482-03-4
              

 A. 5714--A                          2
 
   In addition to the annual contributions discussed above, there will be
 an  immediate past service cost of approximately 1.0% of affected deputy
 sheriffs' salary, which will be borne by any electing county as  a  one-
 time  payment. This estimate assumes that payment will be made on Febru-
 ary 1, 2025.
   These  estimated  costs  are  based on 2,848 affected deputy sheriffs,
 with annual salary of approximately $277.8 million as of March 31, 2023.
   Summary of relevant resources:
   Membership data as of March 31, 2023 was used in measuring the  impact
 of the proposed change, the same data used in the April 1, 2023 actuari-
 al  valuation.    Distributions and other statistics can be found in the
 2023 Report of the Actuary and the 2023 Annual  Comprehensive  Financial
 Report.
   The  actuarial  assumptions and methods used are described in the 2023
 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, 2023
 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 3, 2024, and intended for use only during
 the  2024  Legislative  Session, is Fiscal Note No. 2024-37, prepared by
 the Actuary for the New York State and Local Retirement System.