Bill Text: NY S03462 | 2011-2012 | General Assembly | Amended

New York Senate Bill 3462 (Prior Session Legislation)

Bill Title: Provides for an increased death benefit payment by the New York state and local police and fire retirement system to the survivors of police officer Theodore Raffel, who was a Southampton Village police officer for 19 years, 364 days and 15 1/2 hours at the time of his death.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-02-01 - PRINT NUMBER 3462A [S03462 Detail]

Download: New_York-2011-S03462-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
           S. 3462--A                                            A. 5517--A
                              2011-2012 Regular Sessions
                             S E N A T E - A S S E M B L Y
                                   February 23, 2011
                                      ___________
       IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
         ed, 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 committee
       IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- 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 provide for an increased death benefit for the survivors of a
         deceased police officer
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  The legislature finds and declares that the late Theodore
    2  Raffel served the village  of  Southampton  for  nineteen  years,  three
    3  hundred sixty-four days and fifteen and one-half hours as a police offi-
    4  cer.    At the time of officer Raffel's death, a situation which was not
    5  due to negligence on the part of such individual, there  had  been  paid
    6  into  the  New York state and local police and fire retirement system on
    7  his behalf contributions in the  amount  of  approximately  one  hundred
    8  seventy thousand dollars.  Nevertheless, the amount of the death benefit
    9  paid to officer Raffel's widow was less than one-half of that amount.
   10    S  2.  Notwithstanding any inconsistent provision of law, the New York
   11  state and local police and fire  retirement  system  is  authorized  and
   12  directed  to  pay  to the beneficiary of police officer Theodore Raffel,
   13  who was employed by the village of Southampton as a police officer  from
   14  1966,  until  his  death on June 1, 1986, the sum of all of the contrib-
   15  utions paid by the village of Southampton to such system  on  behalf  of
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03821-03-2
       S. 3462--A                          2                         A. 5517--A
    1  such  police  officer  together with compound interest thereon at a rate
    2  reflecting the return on investments earned by the funds  held  by  such
    3  system  during  the  period  when  such  contributions were held by such
    4  system  together  with  interest  thereon from the date of death of such
    5  officer, less any sums previously paid by such system to such  benefici-
    6  ary.
    7    S 3. This act shall take effect immediately.
         FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
         This  bill would increase the death benefit paid to the beneficiary of
       deceased police officer Theodore Raffel. The new  death  benefit  amount
       would be the sum, over all the years of Mr. Raffel's employment with the
       Village  of  Southampton, of the products of his annual salaries and the
       Village's applicable contribution rates, with interest.
         If this bill is enacted, the estimated cost of  the  increase  in  the
       death  benefit  would be approximately $1.98 million. This cost would be
       shared by the State of New York and all participating employers  in  the
       New York State and Local Police and Fire Retirement System.
         This estimate, dated January 27, 2012 and intended for use only during
       the  2012  Legislative  Session, is Fiscal Note No. 2012-69, prepared by
       the Actuary for the New York State and Local Police and Fire  Retirement
       System.