Bill Text: NY S08622 | 2017-2018 | General Assembly | Introduced
Bill Title: Permits certain service retirement benefits for certain deceased county correction officers in Suffolk county who would have been entitled to service retirement at the time of their death.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-05-10 - REFERRED TO CIVIL SERVICE AND PENSIONS [S08622 Detail]
Download: New_York-2017-S08622-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8622 IN SENATE May 10, 2018 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT to amend the retirement and social security law, in relation to service retirement benefits of county correction officers in Suffolk county The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 89-f of the retirement and social security law is 2 amended by adding a new subdivision k to read as follows: 3 k. Notwithstanding any provision of law to the contrary, a member who 4 would have been entitled to a service retirement at the time of his or 5 her death and where his or her death occurs on or after the effective 6 date of this subdivision, the beneficiary or beneficiaries may elect to 7 receive, in a lump sum, an amount payable which shall be equal to the 8 pension reserve that would have been established had the member retired 9 on the date of his or her death, or the value of the death benefit and 10 the reserve-for-increased-take-home-pay, if any, whichever is greater. 11 § 2. Section 606 of the retirement and social security law is amended 12 by adding a new subdivision f to read as follows: 13 f. Notwithstanding any provision of this article to the contrary, 14 where the member is employed in Suffolk county as a correction officer 15 as defined in section eighty-nine-f of this chapter and would have been 16 entitled to a service retirement at the time of his or her death and 17 where his or her death occurs on or after the effective date of this 18 subdivision, the beneficiary or beneficiaries may elect to receive, in a 19 lump sum, an amount payable which shall be equal to the pension reserve 20 that would have been established had the member retired on the date of 21 his or her death, or the value of the death benefit and the reserve-for- 22 increased-take-home-pay, if any, whichever is greater. 23 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD15882-01-8