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S07740 Summary:

BILL NOS07740
 
SAME ASSAME AS A07970
 
SPONSORPERSAUD
 
COSPNSR
 
MLTSPNSR
 
 
Authorizes Olivia Rae Salta, the daughter of Dawn Jimenez-Salta, 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 mother.
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S07740 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7740
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                       May 2, 2025
                                       ___________
 
        Introduced  by  Sen. PERSAUD -- read twice and ordered printed, and when
          printed to be committed to the Committee on Civil Service and Pensions
 
        AN ACT to authorize Olivia Rae Salta, the daughter of Dawn  Jimenez-Sal-
          ta,  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 mother
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Short  title. This act shall be known and may be cited as
     2  the "Dawn Jimenez-Salta act".
     3    § 2. Notwithstanding any other  provision  of  law  to  the  contrary,
     4  Olivia  Rae  Salta, the daughter of Dawn Jimenez-Salta, who was a member
     5  of the unified court system and member of the New York state  and  local
     6  employees'  retirement  system, who died on October 20, 2024 from trauma
     7  prior to filing for retirement,  shall  be  authorized  to  file  a  new
     8  service  retirement application and an option election form on behalf of
     9  her deceased mother with a joint allowance full option, if,  within  one
    10  year  from  the  effective  date of this act, she shall submit a request
    11  therefor to the state comptroller. In addition, her date  of  retirement
    12  shall  be deemed to have been October 19, 2024. Once such application is
    13  received, any rights or benefits to the  pre-retirement  ordinary  death
    14  benefit  payable  upon  the  death  of  a  member in service pursuant to
    15  section 448 of the retirement and social security law shall  be  waived.
    16  Any  amounts  paid by the New York state and local employees' retirement
    17  system as the result of the death of Dawn  Jimenez-Salta  prior  to  the
    18  filing  of the request for a service retirement benefit pursuant to this
    19  section shall be deducted from the service retirement benefit payable on
    20  an actuarially equivalent basis over the  expected  future  lifetime  of
    21  Olivia Rae Salta.
    22    §  3.  Any additional costs for this act shall be paid by the state of
    23  New York.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11106-03-5

        S. 7740                             2
 
     1    § 4. This act shall take effect immediately.
          FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
          This  bill  would authorize Olivia Rae Salta, the daughter of deceased
        member Dawn Jimenez-Salta, to file a new service retirement  application
        and  option  election  form with the New York State and Local Employees'
        Retirement System (NYSLERS). The date of retirement will be October  19,
        2024,  one  day  prior  to  the date of death of Dawn Jimenez-Salta. The
        option election will be a joint allowance full. Any ordinary death bene-
        fit paid by NYSLERS prior to the filing  of  a  new  service  retirement
        application will be deducted from the benefits payable under this legis-
        lation.
          If  this  bill  is  enacted during the 2025 Legislative Session, there
        will be an immediate past service cost of approximately $1,000,000 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, 2026.
          Summary of relevant resources:
          Membership data as of March 31, 2024 was used in measuring the  impact
        of the proposed change, the same data used in the April 1, 2024 actuari-
        al  valuation.  Distributions  and  other statistics can be found in the
        2024 Report of the Actuary and the 2024 Annual  Comprehensive  Financial
        Report.  The actuarial assumptions and methods used are described in the
        2024  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, 2024 New York State and Local Retirement System Financial Statements
        and Supplementary Information.
          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 9, 2025, and intended for use  only  during
        the  2025  Legislative  Session,  is  Fiscal Note No. 2025-144. As Chief
        Actuary of the New York State and  Local  Retirement  System,  I,  Aaron
        Schottin Young, hereby certify that this analysis complies with applica-
        ble  Actuarial Standards of Practice as well as the Code of Professional
        Conduct and Qualification Standards for Actuaries Issuing Statements  of
        Actuarial  Opinion of the American Academy of Actuaries, of which I am a
        member.
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