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.
STATE OF NEW YORK
________________________________________________________________________
5413--A
2017-2018 Regular Sessions
IN SENATE
March 27, 2017
___________
Introduced by Sen. BONACIC -- 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 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 contra-
2 ry, Susan Gillinder, the widow of Robert C. Ritchie, who was a member of
3 the New York state and local employees' retirement system, who died
4 after he filed for retirement but prior to his selected retirement date,
5 shall be authorized to file a new service retirement application and an
6 option election form on behalf of her deceased husband with a joint
7 allowance full option, if, within one year from the effective date of
8 this act, she shall submit a request therefor to the state comptroller.
9 In addition, his date of retirement shall be deemed to have been August
10 15, 2016. Once such application is received, any rights or benefits to
11 the pre-retirement ordinary death benefit payable upon the death of a
12 member in service pursuant to section 448 of the retirement and social
13 security law shall be waived. Any amounts paid by the New York state and
14 local employees' retirement system as the result of the death of Robert
15 C. 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.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09029-04-7
S. 5413--A 2
1 § 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
Gillinder shall be authorized to file for the service retirement benefit
on his 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, there would be a one-time cost to the State
of New York of approximately $320,000. This estimate is based on the
assumption that payment will be made on March 1, 2019.
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, 2017 actuarial valu-
ation. Distributions and other statistics can be found in the 2017
Report of the Actuary and the 2017 Comprehensive Annual Financial
Report.
The actuarial assumptions and methods used are described in the 2015,
2016, and 2017 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, 2017
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 November 15, 2017, and intended for use only
during the 2018 Legislative Session, is Fiscal Note No. 2018-4, prepared
by the Actuary for the New York State and Local Retirement System.
