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A06534 Summary:

BILL NOA06534
 
SAME ASSAME AS S06553
 
SPONSORBrabenec
 
COSPNSR
 
MLTSPNSR
 
 
Authorizes Susan Gillinder, the widow of Robert C. Ritchie, to file a new service retirement application and an option election form on behalf of her deceased husband with the New York state and local employees' retirement system.
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A06534 Actions:

BILL NOA06534
 
04/13/2023referred to governmental employees
01/03/2024referred to governmental employees
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A06534 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A6534
 
SPONSOR: Brabenec
  TITLE OF BILL: An act to authorize Susan Gillinder, the widow of Robert C. Ritchie, to file a new service retirement application and option election form with the New York state and local employees' retirement system on behalf of such deceased member   PURPOSE OR GENERAL IDEA OF BILL: This bill allows Susan Gillinder, the widow of Robert. C. Ritchie, to file a new service retirement application and option election form on behalf of her deceased husband with a joint allowance full option.   SUMMARY OF PROVISIONS: Section 1: Authorizes Susan Gillinder, the widow of Robert C. Ritchie, to file a new service retirement application and option election form with the New York state and local employees' retirement system on behalf of her deceased husband with, a joint allowance full option. Section 2: Provides that all costs associated shall be borne by the State of New York. Section 3: Effective date.   JUSTIFICATION: In July of 2016 Robert C. Ritchie filed his retirement paperwork with a joint allowance full option to ensure his wife, Susan Gillinder, would receive his pension should he predecease her. The paperwork was filed with a retirement date of September 30, 2016. Unfortunately, Robert Ritchie passed away from cancer on August 16, 2016. Despite the fact that Robert Ritchie submitted his retirement paperwork and clearly designated his desire for his wife to receive his pension, Susan Gillin- der is only eligible to receive the in-service death benefit. This bill addresses this unfortunate situation and allows Susan Gillinder to file a new service retirement application and option election form on behalf of Robert Ritchie with a retirement. date of August 15, 2016 and a joint allowance full option.   PRIOR LEGISLATIVE HISTORY: 01/08/20 referred to governmental employees 07/16/20 held for consideration in governmental employees   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: The cost of this benefit is estimated to be $320,000 based on the assumption that the payment will be made on June 1, 2023.   EFFECTIVE DATE: This act shall take effect immediately.
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A06534 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6534
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                     April 13, 2023
                                       ___________
 
        Introduced by M. of A. BRABENEC -- read once and referred to the Commit-
          tee on Governmental Employees
 
        AN ACT to authorize Susan Gillinder, the widow of Robert C.  Ritchie, to
          file  a  new  service  retirement application and option election form
          with the New York state and  local  employees'  retirement  system  on
          behalf of such deceased member

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Notwithstanding any other provision of law to the contrary,
     2  Susan Gillinder, the widow of Robert C. Ritchie, who was a member of the
     3  New York state and local employees' retirement system, who died after he
     4  filed for retirement but prior to his selected retirement date, shall be
     5  authorized to file a new service retirement application  and  an  option
     6  election  form  on behalf of her deceased husband with a joint allowance
     7  full option, if, within one year from the effective date  of  this  act,
     8  she  shall  submit a request therefor to the state comptroller. In addi-
     9  tion, his date of retirement shall be deemed to  have  been  August  15,
    10  2016.  Once  such application is received, any rights or benefits to the
    11  pre-retirement ordinary death benefit payable upon the death of a member
    12  in service pursuant to section 448 of the retirement and social security
    13  law shall be waived. Any amounts paid by the New York  state  and  local
    14  employees'  retirement  system  as  the result of the death of Robert C.
    15  Ritchie prior to the filing of the  request  for  a  service  retirement
    16  benefit  pursuant  to  this  section  shall be deducted from the service
    17  retirement benefit payable thereafter.
    18    § 2. Any additional costs for this act shall be paid by the  state  of
    19  New York.
    20    § 3. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would  deem  deceased member Robert C. Ritchie eligible to
        receive a service retirement benefit effective on August 15, 2016. Susan

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08909-02-3

        A. 6534                             2
 
        Gillinder shall be authorized to file for the service retirement benefit
        on Robert Ritchie's behalf with a  joint  allowance  full  option.  Upon
        enactment  of  this legislation, all rights and benefits to the ordinary
        death  benefits  Susan  Gillinder would otherwise be entitled to receive
        shall be waived. Any payments received from such ordinary death  benefit
        will be deducted from the benefits payable under this legislation.
          If  this  bill  is  enacted during the 2023 legislative session, there
        will be an immediate past service cost of approximately  $490,000  which
        will be borne by the State of New York as a one-time payment. This esti-
        mate assumes that payment will be made on March 1, 2024.
          Summary of relevant resources:
          Membership  data as of March 31, 2022 was used in measuring the impact
        of the proposed change, the same data used in the April 1, 2022 actuari-
        al valuation. Distributions and other statistics can  be  found  in  the
        2022  Report  of the Actuary and the 2022 Annual Comprehensive Financial
        Report.
          The actuarial assumptions and methods used are described in the  2020,
        2021,  and  2022  Annual  Report to the Comptroller on Actuarial Assump-
        tions, 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, 2022
        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 April 11, 2023, and intended for use only  during
        the  2023  Legislative Session, is Fiscal Note No. 2023-116, prepared by
        the Actuary for the New York State and Local Retirement System.
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