STATE OF NEW YORK
________________________________________________________________________
5406--A
2021-2022 Regular Sessions
IN SENATE
March 4, 2021
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Introduced by Sen. REICHLIN-MELNICK -- 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 commit-
tee
AN ACT in relation to authorizing Harvey Eilbaum to file a request for
change of beneficiary with the New York state and local employees'
retirement system
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, Harvey Eilbaum,
2 who is currently a member of the New York state and local employees'
3 retirement system, who retired from the Rockland county district attor-
4 ney's office on May 21, 2004, shall be authorized to change his named
5 beneficiary to Janice Eilbaum, if within one year of the effective date
6 of this act, he shall file a written request on a form prescribed by the
7 New York state and local employees' retirement system with the head of
8 said retirement system.
9 § 2. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would authorize Harvey Eilbaum, a retiree of the New York
State and Local Employees' Retirement System (NYLSERS), to change his
named beneficiary to Janice Eilbaum.
If this bill is enacted during the 2022 legislative session, there
will be an immediate past service cost of approximately $36,900 which
will be shared by the State of New York and all participating employers
in the NYSLERS.
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-
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08373-03-2
S. 5406--A 2
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 March 29, 2022, and intended for use only during
the 2022 Legislative Session, is Fiscal Note No. 2022-99, prepared by
the Actuary for the New York State and Local Retirement System.
