Provides accidental disability retirement benefits for Lawrence R. Hrazanek, a participant in World Trade Center rescue, recovery, and cleanup operations.
STATE OF NEW YORK
________________________________________________________________________
7039--A
2023-2024 Regular Sessions
IN SENATE
May 17, 2023
___________
Introduced by Sen. HARCKHAM -- 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 relating to disability retirement benefits for Lawrence R. Hraza-
nek, a participant in World Trade Center rescue, recovery, and cleanup
operations
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Notwithstanding any other law to the contrary, Lawrence R.
2 Hrazanek, a senior investigator employed by the New York state depart-
3 ment of taxation and finance who retired from such service in October
4 2015, and who participated in the World Trade Center rescue, recovery
5 and cleanup operations as an excise tax investigator of the New York
6 state department of taxation and finance, shall be entitled to a 75%
7 accidental disability retirement benefit pursuant to paragraph 4 of
8 subdivision d of section 605 of the retirement and social security law
9 based upon the determination by the New York state and local employees'
10 retirement system that Lawrence R. Hrazanek was permanently incapaci-
11 tated for the performance of his duties as a result of his participation
12 in the World Trade Center rescue, recovery, or cleanup operations. Such
13 benefit shall be payable from the date of his retirement.
14 § 2. All costs associated with implementing this act shall be borne by
15 the state of New York.
16 § 3. This act shall take effect immediately.
FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
This bill would allow Lawrence R. Hrazanek, a disability retiree of
the New York State and Local Employees' Retirement System who previously
worked for the New York State Department of Taxation and Finance, to be
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11087-03-4
S. 7039--A 2
entitled to an accidental disability retirement benefit equal to 75% of
final average salary, payable pursuant to §605(d)(4) of the Retirement
and Social Security Law, as a result of their participation in the World
Trade Center (WTC) rescue, recovery and cleanup operations. The retire-
ment benefit would be recalculated and payment would be made retroactive
to the date of retirement.
If this bill is enacted during the 2024 legislative session, there
will be an immediate past service cost of approximately $793,000 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, 2025.
Summary of relevant resources:
Membership data as of March 31, 2023 was used in measuring the impact
of the proposed change, the same data used in the April 1, 2023 actuari-
al valuation. Distributions and other statistics can be found in the
2023 Report of the Actuary and the 2023 Annual Comprehensive Financial
Report.
The actuarial assumptions and methods used are described in the 2023
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, 2023
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 January 3, 2024, and intended for use only during
the 2024 Legislative Session, is Fiscal Note No. 2024-12, prepared by
the Actuary for the New York State and Local Retirement System.
