New York Senate Bill S03513 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 3513 2025-2026 Regular Sessions  IN SENATE January 28, 2025 ___________ Introduced by Sen. GALLIVAN -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT to authorize Lois J. Reid to apply for ordinary disability retirement benefits from 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, Lois J. Reid, 2 who was employed by the Erie County Youth Board on March 6, 1970, and 3 who was employed by the New York state department of social services on 4 May 16, 1985, was a member of the New York state and local employees' 5 retirement system for approximately 17.5 years, was diagnosed with 6 chronic fatigue syndrome in 1990, which is a symptom of mitochondrial 7 disease, of which was diagnosed on March 1, 2011, and which was only 8 recently identified by the medical community, was declared to be totally 9 and permanently disabled by the New York state department of social 10 services in 1990, and who was declared to be totally and permanently 11 disabled by the United States social security administration in the 12 early 1990s, and who was denied ordinary disability retirement benefits, 13 shall be allowed to reapply for ordinary disability retirement benefits 14 from the New York state and local employees' retirement system covering 15 the period from June 19, 1992 through March 1, 2003 if, within one year 16 of the effective date of this act, she shall file a written request to 17 that effect with the state comptroller. 18 § 2. All costs associated with the implementation of this act shall be 19 borne by the state. 20 § 3. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would allow Lois J. Reid, a service retiree of the New York State and Local Employees' Retirement System with a date of retirement EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02872-02-5 
 S. 3513 2 of March 1, 2003, to apply for a temporary ordinary disability retire- ment benefit for the period from June 19, 1992 through March 1, 2003. If this bill is enacted during the 2025 Legislative Session and Lois J. Reid is granted a temporary disability benefit, there will be an immediate past service cost of approximately $127,000 which will be borne by the State of New York as a one-time payment. This estimate 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 January 24, 2025, and intended for use only during the 2025 Legislative Session, is Fiscal Note No. 2025-26. As Chief Actuary of the New York State and Local Retirement System, I, Aaron Schottin Young, hereby certify that this analysis complies with applicable 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.