Bill Text: NY S07770 | 2013-2014 | General Assembly | Introduced
Bill Title: Authorizes Lori A. Bailie to file a retroactive retirement application with the New York state and local employees' retirement system on behalf of her deceased husband, Roger J. Bailie, and to receive all benefits payable based upon such retirement.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2014-06-06 - REFERRED TO CIVIL SERVICE AND PENSIONS [S07770 Detail]
Download: New_York-2013-S07770-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 7770 A. 9996 S E N A T E - A S S E M B L Y June 6, 2014 ___________ IN SENATE -- Introduced by Sen. FARLEY -- read twice and ordered print- ed, and when printed to be committed to the Committee on Civil Service and Pensions IN ASSEMBLY -- Introduced by COMMITTEE ON RULES -- (at request of M. of A. Fahy, Tedisco, Steck) -- read once and referred to the Committee on Governmental Employees AN ACT to authorize the widow of Roger J. Bailie to file a retroactive application for retirement with the New York state and local employ- ees' retirement system 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, Roger J. Bailie, who was last 3 employed by the New York state department of labor as a director of 4 finance, shall be deemed eligible for a service retirement benefit 5 effective May 6, 2014, notwithstanding the fact that he died on May 6, 6 2014. Within one year from the effective date of this act, Lori A. 7 Bailie, the widow of Roger J. Bailie, may file with the retirement 8 system an application for service retirement benefits on behalf of Roger 9 J. Bailie with an effective date of retirement of May 6, 2014 and an 10 option election form electing to receive retirement benefits pursuant to 11 the terms of the joint allowance - full option with Lori A. Bailie as 12 the beneficiary. The filing of a service retirement application will 13 constitute a waiver of any rights or benefits to the ordinary death 14 benefit payable upon the death of a member in service pursuant to 15 sections 508 or 606 of the retirement and social security law. Any 16 amounts paid by the retirement system to Roger J. Bailie, his estate or 17 to Lori A. Bailie prior to the filing of the application for service 18 retirement shall be deducted from the benefit payable thereafter. 19 S 2. Any additional costs for this act shall be paid by the state of 20 New York. 21 S 3. This act shall take effect immediately. FISCAL NOTE.-- Pursuant to Legislative Law, Section 50: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15363-02-4 S. 7770 2 A. 9996 This bill would deem Roger J. Bailie eligible to receive a service retirement benefit effective on May 6, 2014, notwithstanding the fact that he died on May 6, 2014. Lori A. Bailie shall be authorized to file for the service retirement benefit on his behalf. Further, Lori A. Bailie must waive all rights and benefits to the ordinary death benefits she would otherwise be entitled to receive. Any payments received from such ordinary death benefit will be deducted from the benefits payable under this legislation. If this bill is enacted, there would be a one-time cost to the State of New York of approximately $779,000. This estimate is based on the assumption that payment will be made on March 1, 2015. Summary of relevant resources: The membership data used in measuring the impact of the proposed change was the same as that used in the March 31, 2013 actuarial valu- ation. Distributions and other statistics can be found in the 2013 Report of the Actuary and the 2013 Comprehensive Annual Financial Report. The actuarial assumptions and methods used are described in the 2010, 2011, 2012 and 2013 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, 2013 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 statement of actuarial opinion contained herein. This estimate, dated June 4, 2014, and intended for use only during the 2014 Legislative Session, is Fiscal Note No. 2014-145, prepared by the Actuary for the New York State and Local Employees' Retirement System.