Bill Text: NY S05208 | 2023-2024 | General Assembly | Amended

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Bill Title: Provides accidental disability retirement benefits for deputy sheriff Richard Stueber, a participant in World Trade Center rescue, recovery, and cleanup operations.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-05-13 - RECOMMIT, ENACTING CLAUSE STRICKEN [S05208 Detail]

Download: New_York-2023-S05208-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         5208--A

                               2023-2024 Regular Sessions

                    IN SENATE

                                    February 27, 2023
                                       ___________

        Introduced  by  Sen. PALUMBO -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
          -- recommitted to the Committee  on  Civil  Service  and  Pensions  in
          accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee

        AN  ACT  relating  to  disability retirement benefits for deputy sheriff
          Richard Stueber, a participant in World Trade Center rescue, recovery,
          and cleanup operations

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Notwithstanding  any  other  law to the contrary, Richard
     2  Stueber, a deputy sheriff employed by Suffolk County  who  retired  from
     3  such  service  on March 1, 2019, and who participated in the World Trade
     4  Center rescue, recovery and cleanup operations as a member  of  the  New
     5  York City police department, shall be entitled to a 75% accidental disa-
     6  bility  retirement   benefit pursuant to paragraph 4 of subdivision d of
     7  section 605 of the retirement and social security  law  based  upon  the
     8  determination  by  the  New  York  state and local employees' retirement
     9  system on March 12, 2020 that Richard Stueber was permanently  incapaci-
    10  tated    for  the  performance  of his duties as a result of his partic-
    11  ipation in the World Trade Center rescue,  recovery,  or  cleanup  oper-
    12  ations. Such benefit shall be payable from the date of his retirement.
    13    § 2. All costs associated with implementing this act shall be borne by
    14  the state of New York.
    15    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  allow Richard Stueber, a service retiree of the New
        York State and Local Employees  Retirement System who previously  worked
        for  Suffolk  County, to be entitled to an accidental disability retire-
        ment benefit equal to 75% of final average salary, payable  pursuant  to

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06751-03-4
        S. 5208--A                          2

        Section 605(d)(4) of the Retirement and Social Security Law, as a result
        of  their  participation  in the World Trade Center rescue, recovery and
        cleanup operations. The retirement benefit would  be  recalculated,  and
        payment would be made retroactive to the date of retirement.
          If  this  bill  is  enacted during the 2024 Legislative Session, there
        will be an immediate past service cost of approximately  $262,000  which
        will be borne by the State of New York as a one-time payment. This esti-
        mate assumes that payment will be made on March 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 March 8, 2024, and intended for use  only  during
        the  2024  Legislative Session, is Fiscal Note No. 2024-115, prepared by
        the Actuary for the New York State and Local Retirement System.