Bill Text: NY A10422 | 2021-2022 | General Assembly | Introduced

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Bill Title: Relates to establishing an accidental disability retirement pension for deputy sheriffs employed by Nassau county; provides that a deputy sheriff employed by Nassau county shall receive a pension of three-quarters of his or her final average salary.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed - Dead) 2022-06-03 - REFERRED TO RULES [A10422 Detail]

Download: New_York-2021-A10422-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10422

                   IN ASSEMBLY

                                      May 17, 2022
                                       ___________

        Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Abbate) --
          read once and referred to the Committee on Governmental Employees

        AN ACT to amend the retirement and social security law, in  relation  to
          establishing  an  accidental  disability retirement pension for deputy
          sheriffs employed by Nassau County

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

     1    Section  1. Paragraph 3 of subdivision e of section 556 of the retire-
     2  ment and social security law, as added by chapter 165  of  the  laws  of
     3  1995, is amended to read as follows:
     4    3. (a) A pension of two-thirds of his or her final average salary. The
     5  payment  of  such  pension shall be subject to the provisions of section
     6  three hundred sixty-four of this chapter.
     7    (b) Notwithstanding the provisions of subparagraph (a) of  this  para-
     8  graph,  a  deputy  sheriff  employed  by  Nassau  County shall receive a
     9  pension of three-quarters of  his  or  her  final  average  salary.  The
    10  payment  of  such  pension shall be subject to the provisions of section
    11  sixty-four of this chapter.
    12    § 2. Notwithstanding any provision of law to the contrary, none of the
    13  provisions of this act shall be subject to the appropriation requirement
    14  of section 25 of the retirement and social security law.
    15    §  3.  All  past  service  costs  associated  with  implementing   the
    16  provisions of this act shall be borne by the county of Nassau.
    17    § 4. This act shall take effect immediately.

        FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  provide  improved accidental disability pensions to
        deputy sheriffs employed  by  Nassau  County  who  are  covered  by  the
        provisions  of  Article  14-B of the Retirement and Social Security Law.
        The benefit for an accidental  disability  would  be  three-quarters  of
        final average salary minus workers' compensation. The current benefit is
        two-thirds of final average salary minus workers' compensation.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15080-03-2
        A. 10422                            2

          If this bill is enacted during the 2022 legislative session, we antic-
        ipate  that  there  will  be  an increase in the annual contributions of
        Nassau County of approximately $10,000 for the fiscal year ending  March
        31,  2023. In future years, this cost will vary as the billing rates and
        salary of the affected deputy sheriffs change.
          In addition to the annual contributions discussed above, there will be
        an  immediate  past  service cost of approximately $58,800 which will be
        borne by Nassau County as a one-time payment.  This estimate is based on
        the assumption that payment will be made on February 1, 2023.
          These estimated costs are based on  57  deputy  sheriffs  employed  by
        Nassau  County  with  annual  salary of approximately $5.8 million as of
        March 31, 2021.
          Summary of relevant resources:
          Membership data as of March 31, 2021 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2021 actuari-
        al  valuation.    Distributions and other statistics can be found in the
        2021 Report of the Actuary and the 2021 Comprehensive  Annual  Financial
        Report.
          The  actuarial  assumptions and methods used are described in the 2020
        and 2021 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, 2021
        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  May 12, 2022, and intended for use only during
        the 2022 Legislative Session, is Fiscal Note No. 2022-115,  prepared  by
        the Actuary for the New York State and Local Retirement System.