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A05462 Summary:

BILL NOA05462
 
SAME ASSAME AS S04752
 
SPONSORPeoples-Stokes
 
COSPNSRRodriguez
 
MLTSPNSR
 
 
Authorizes Janice Middlebrooks, the widow of William James Middlebrooks, to file a retirement option election on behalf of her deceased husband.
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A05462 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5462
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 9, 2017
                                       ___________
 
        Introduced  by  M.  of  A.  PEOPLES-STOKES,  RODRIGUEZ  -- read once and
          referred to the Committee on Governmental Employees
 
        AN ACT to authorize the widow of William James Middlebrooks  to  file  a
          retirement option election form
 
          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  Janice Middlebrooks, the widow of William  James  Middlebrooks  who  was
     3  employed  by  the  Albion Correctional Facility, was a member of the New
     4  York state and local employees' retirement system,  was  diagnosed  with
     5  cancer in January of 2004, was advised on October 31, 2004 that he would
     6  be  unable  to  return to employment as the result of his malignancy and
     7  the treatment therefor, and died on December 3, 2006 prior to  filing  a
     8  retirement  election  form  with the New York state and local employees'
     9  retirement system, shall be authorized to file such option election form
    10  on behalf of her deceased husband with a joint allowance full option, if
    11  on or before December 31, 2018 she shall submit a  request  therefor  to
    12  the  state  comptroller.    In  addition, his application for disability
    13  retirement shall be deemed to have become effective on November 1, 2004.
    14  All retirement benefits payable pursuant to the provisions of  this  act
    15  shall  be  paid  to  Janice Middlebrooks and shall be in addition to any
    16  other death benefits paid.
    17    § 2. This act shall take effect immediately.
          FISCAL NOTE.--This bill would authorize Janice Middlebrooks to file an
        ordinary disability application with a date of retirement of November 1,
        2004 and an option election form with a joint allowance full  option  on
        behalf  of her deceased husband William James Middlebrooks. Mr.  Middle-
        brooks received a disability retirement  which  was  paid  beginning  on
        3/28/2005. Upon his death all payments ceased because no option election
        form  was  filed.  By  filing  the  disability application and an option
        election form, an additional benefit will be paid for the period 11/1/04
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00951-02-7

        A. 5462                             2
 
        - 3/28/05 and a benefit will continue to  Janice  Middlebrooks  for  her
        lifetime.
          If  this bill is enacted, there will be an immediate past service cost
        of approximately $239,000 which will be shared by the State of New  York
        and  all  the  participating  employers  in the New York State and Local
        Employees' Retirement System.
          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, 2016 actuarial valu-
        ation.  Distributions and other statistics can  be  found  in  the  2016
        Report  of  the  Actuary  and  the  2016  Comprehensive Annual Financial
        Report.
          The actuarial assumptions and methods used are described in  the  2015
        and  2016 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, 2016
        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 estimate, dated January 23,  2017,  and  intended  for  use  only
        during  the  2017  Legislative  Session,  is  Fiscal  Note  No. 2017-42,
        prepared by the Actuary for the New  York  State  and  Local  Retirement
        System.
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