S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7776

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              May 27, 2015
                               ___________

Introduced by M. of A. ABBATE -- Multi-Sponsored by -- M. of A. GOLDFED-
  ER  -- read once and referred to the Committee on Governmental Employ-
  ees

AN ACT to amend the administrative code of the  city  of  New  York,  in
  relation  to  the continuance of retirement allowance upon election to
  public office by members of the New York fire department pension fund

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. The administrative code of the city of New York is amended
by adding a new section 13-341.1 to read as follows:
  S 13-341.1 CONTINUANCE OF RETIREMENT ALLOWANCE UPON ELECTION TO PUBLIC
OFFICE. NOTWITHSTANDING THE PROVISIONS OF ANY  GENERAL,  SPECIAL,  LOCAL
LAW, NEW YORK CITY CHARTER, NEW YORK CITY ADMINISTRATIVE CODE OR RULE OR
REGULATION  TO  THE  CONTRARY,  THE PAYMENT OF ANY PENSION FROM THE FIRE
DEPARTMENT PENSION FUND, SUBCHAPTER ONE OF THIS CHAPTER,  SHALL  NOT  BE
REVOKED,  REPEALED  OR  DIMINISHED BY REASON OF THE PENSIONER HOLDING OR
RECEIVING ANY COMPENSATION AS THE RESULT OF HIS OR  HER  ELECTION  TO  A
PUBLIC  OFFICE  UNDER  THE  STATE OF NEW YORK, OR OF ANY CITY, COUNTY OR
OTHER POLITICAL SUBDIVISION, AGENCY OR BOARD OF THE STATE OF NEW YORK.
  S 2. This act shall take effect immediately.
  FISCAL NOTE.-- Pursuant to Legislative Law, Section 50:
  This proposed legislation would amend Administrative Code of the  City
of  New  York  ("ACNY")  by  adding  Section  13-341.1 to allow that the
payment of any pension from the New York Fire  Department  Pension  Fund
("FIRE")  shall  not be revoked, repealed or diminished by reason of the
pensioner holding or receiving any compensation as the result of his  or
her  election to a public office under the state of New York, or of, any
city, county or other political subdivision,  agency  or  board  of  the
state of New York.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09935-02-5

A. 7776                             2
              

  Note:  The provisions of this proposed legislation for retired members
of FIRE are similar to those currently in law under ACNY Section  13-250
for retired members of the New York City Police Pension Fund.
  Currently, a retired member of FIRE may have their pension limited due
to  post-retirement limitations imposed by New York City Charter Section
1117 or by Retirement and Social Security Law Sections 211 and 212. This
proposed legislation, if enacted, would remove these limitations in  the
case of elections to a public office as described in the legislation.
  The  Effective  Date  of the proposed legislation would be the date of
enactment.
  FINANCIAL IMPACT -  ACTUARIAL  PRESENT  VALUE  OF  BENEFITS,  EMPLOYER
NORMAL  COST, ACTUARIAL ACCRUED LIABILITY AND EMPLOYER CONTRIBUTIONS: As
the Actuary expects that few retired members will be  affected  by  this
legislation,  the  enactment of this proposed legislation is expected to
result in little or no change in the Actuarial Present  Value  of  Bene-
fits,  Employer  Normal  Cost,  Actuarial  Accrued Liability or employer
contributions to FIRE.
  STATEMENT OF ACTUARIAL OPINION: I, Michael J. Samet, am  a  Fellow  of
the Society of Actuaries and a Member of the American Academy of Actuar-
ies.    I  meet  the  Qualification Standards of the American Academy of
Actuaries to render the actuarial opinion contained herein.
  FISCAL NOTE IDENTIFICATION: This estimate is  intended  for  use  only
during  the  2015  Legislative Session. It is Fiscal Note 2015-25, dated
May 6, 2015.