Bill Text: NY S04285 | 2021-2022 | General Assembly | Amended


Bill Title: Deems an application filed with the New York state and local police and fire retirement system by the widow of Lawrence Lakeman as timely filed.

Spectrum: Slight Partisan Bill (Republican 4-2)

Status: (Engrossed - Dead) 2022-06-01 - referred to governmental employees [S04285 Detail]

Download: New_York-2021-S04285-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         4285--B

                               2021-2022 Regular Sessions

                    IN SENATE

                                    February 3, 2021
                                       ___________

        Introduced  by  Sens.  GALLIVAN,  AKSHAR, KENNEDY, ORTT, SAVINO, WEIK --
          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 committee -- committee discharged,
          bill amended, ordered reprinted as amended  and  recommitted  to  said
          committee

        AN  ACT  to  deem an application filed with the New York state and local
          police and fire retirement system by the widow of Lawrence Lakeman  as
          timely filed

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

     1    Section 1. Notwithstanding the provisions of any  general  or  special
     2  law,  rule  or regulation to the contrary, an application for conversion
     3  of service or disability retirement to  accidental  death  benefits  for
     4  victims  of  the 2001 World Trade Center disaster filed by Audra Lakeman
     5  with the New York state and local police and fire retirement system,  on
     6  behalf  of  her  deceased  husband  Lawrence  Lakeman who was previously
     7  employed by the New York State Police as a trooper and who was granted a
     8  disability retirement benefit  on  April  24,  2007  which  pursuant  to
     9  section  361  of  the retirement and social security law had to be filed
    10  with such retirement system by August 24, 2009 but was filed on December
    11  16, 2016 shall be considered timely filed.
    12    § 2. All costs of implementing the provisions of  this  act  shall  be
    13  borne by the state of New York.
    14    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  deem  the  Application for Conversion of Service or
        Disability Retirement to Accidental Death Benefit  for  Victims  of  the
        2001  World Trade Center Disaster originally filed by Audra Lakeman, the

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03934-13-2

        S. 4285--B                          2

        beneficiary of deceased police officer Lawrence Lakeman's performance of
        duty disability benefit, on  December  16,  2016  to  be  timely  filed.
        Lawrence  Lakeman  died on August 24, 2007. Such application for conver-
        sion  is  required  to  be filed within two years of a retiree's date of
        death as provided in Section 361 of the Retirement and  Social  Security
        Law.
          If  this  bill  is  enacted during the 2022 legislative session, there
        will be an immediate past service cost of  approximately  $4.37  million
        which will be borne by the State of New York as a one-time payment. This
        estimate  is  based on the assumption that payment will be made on March
        1, 2023.
          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 26, 2022, and intended for use only during
        the 2022 Legislative Session, is Fiscal Note No. 2022-160,  prepared  by
        the Actuary for the New York State and Local Retirement System.
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