S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7278--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 17, 2023
                                ___________
 
 Introduced  by  M.  of  A.  McDONOUGH  --  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 in relation to authorizing the New York state and  local  employ-
   ees' retirement system to accept an application for disability retire-
   ment benefits from Andrew Reilly, Jr.
 
   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 contrary,
 the application for disability retirement  benefits  of  Andrew  Reilly,
 Jr.,  who  was  employed as a clerk for the town of Hempstead Sanitation
 District 1 and a member of the  New  York  state  and  local  employees'
 retirement  system  from  March  1995 until October 15, 2020, suffered a
 stroke on February 20, 2020 and who, for reasons not ascribable  to  his
 own negligence, did not apply to the New York state and local employees'
 retirement  system  for  disability  retirement  benefits because of the
 COVID-19, novel coronavirus state of emergency, shall be deemed to  have
 applied to the New York state and local employees' retirement system for
 disability  retirement  benefits  within  30  days  of his disability on
 February 20, 2020.
   § 2. All costs associated with the implementation of this act shall be
 borne by the employers of the members of the New York  state  and  local
 employees' retirement system.
   § 3. This act shall take effect immediately.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would deem Andrew Reilly Jr. to have applied to the New York
 State  and  Local  Employees' Retirement System (NYSLERS) for disability
 benefits within thirty days of their disability on February 20, 2020.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10709-04-4
 A. 7278--A                          2
              

 
   If this bill is enacted  during  the  2024  Legislative  Session,  and
 Andrew  Reilly  Jr.  is  subsequently  approved  for disability benefits
 pursuant to section 605 of the Retirement and Social Security Law, there
 will be an immediate past service cost of approximately  $331,000  which
 will  be  borne  by  the  State  of New York and all local participating
 employers in the NYSLERS. This estimate assumes  that  payment  will  be
 made on February 1, 2025.
   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 February 14, 2024,  and  intended  for  use  only
 during  the  2024  Legislative  Session,  is  Fiscal  Note No. 2024-107,
 prepared by the Actuary for the New  York  State  and  Local  Retirement
 System.