NY State Senate Bill 2013-S4273

Senate Bill S4273

2013-2014 Legislative Session

Authorizes the beneficiaries of John E. Johnson to receive a death benefit which is not reduced because he was over 60 years of age

download bill text pdf

Archive: Last Bill Status - In Senate Committee Civil Service And Pensions Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2014	referred to civil service and pensions
Mar 18, 2013	referred to civil service and pensions

2013-S4273 (ACTIVE) - Details

Current Committee:: Senate Civil Service And Pensions
Law Section:: Retirement

2013-S4273 (ACTIVE) - Summary

Authorizes the beneficiaries of John E. Johnson to receive a death benefit which is not reduced because he was over 60 years of age.

2013-S4273 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S4273

TITLE OF BILL:  An act to authorize the designated beneficiary or
beneficiaries of John E.  Johnson to receive a death benefit equal to
three times his salary without reduction based on mortality

PURPOSE:

To provide a death benefit without penalty to the beneficiary or
beneficiaries of John E. Johnson.

SUMMARY OF PROVISIONS:

Section 1 - Provides that the beneficiary or beneficiaries of John E.
Johnson shall receive a death benefit based upon his pension reserve
calculated as if he died at the age of 60.

Section 2 - Contains the effective date.

JUSTIFICATION:

John E. Johnson was the Director of Clinton County Mental Health
Services who passed away unexpectedly February 18, 2004 at the age of
66 while attending a County Health Committee meeting. Mr. Johnson had
intended to retire within six months of his untimely death. However,
because John worked six years past the age of 60, his death benefit is

reduced four percent for every year he worked resulting in a total
reduction of 24 percent.

This legislation would remove this 24 percent penalty and restore his
death benefit to the full amount.

LEGISLATIVE HISTORY:

2011-12: S. 3234 Civil Service & Pensions/A.5120 Governmental
Employees
2010: S.2690 Civil Service &. Pensions/A.6197 Governmental Employees
2007: S.1107 Civil Service & Pensions/A.1774 Governmental Employees
2006: S.1601-A Civil Service & Pensions/A.7846-A Governmental
Employees
2005: S.1601 3rd Reading/A.7846-A Governmental Employees
2004: S.7472-A Rules

FISCAL IMPLICATIONS:

This bill will entitle the estate of John E. Johnson, a former
employee of the State of New York as well as Clinton County, to a
death benefit of three times salary, plus Mr. Johnson's accumulated
contributions, without any reduction for age. It is anticipated that
there will be an immediate past service cost of approximately
$116,000, which will be shared by the State of New York and all the
participating employers of the New York State and Local Employees'
Retirement System.

EFFECTIVE DATE:

This act shall take effect immediately.

2013-S4273 (ACTIVE) - Bill Text download pdf

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

                                  4273

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 18, 2013
                               ___________

Introduced  by  Sen.  LITTLE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Civil Service and Pensions

AN ACT to authorize the designated beneficiary or beneficiaries of  John
  E.  Johnson to receive a death benefit equal to three times his salary
  without reduction based on mortality

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

  Section 1. Notwithstanding any provision of law to the  contrary,  the
beneficiary or beneficiaries of John E. Johnson, who was a member of the
New  York  state and local employees' retirement system and was employed
by the county of Clinton upon his death on February 18, 2004 at the  age
of  66 years, shall be entitled to receive a death benefit equal to such
member's salary multiplied  by  three,  plus  the  member's  accumulated
contributions,  if,  on or before December 31, 2013, such beneficiary or
beneficiaries shall file an application therefor with  the  state  comp-
troller.
  S 2. This act shall take effect immediately.
  Fiscal  Note.--This bill will entitle the estate of John E. Johnson, a
former employee of the State of New York as well as Clinton County, to a
death benefit of three times  salary,  plus  Mr.  Johnson's  accumulated
contributions, without any reduction for age.
  If this bill were enacted, we anticipate that there will be an immedi-
ate past service cost of approximately $116,000, which will be shared by
the  State  of  New  York and all the participating employers of the New
York State and Local Employees' Retirement System.
  Summary of relevant resources:
  Data: March 31, 2012 Actuarial Year End  File  with  distributions  of
membership  and  other  statistics  displayed  in the 2012 Report of the
Actuary and 2012 Comprehensive Annual Financial Report.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01121-02-3

S. 4273                             2

  Assumptions and Methods: 2010, 2011 and  2012  Annual  Report  to  the
Comptroller on Actuarial Assumptions, Codes Rules and Regulations of the
State of New York: Audit and Control.
  Market  Assets and GASB Disclosures: March 31, 2012 New York State and
Local Retirement System Financial Statements and Supplementary  Informa-
tion.
  Valuations  of Benefit Liabilities and Actuarial Assets: summarized in
the 2012 Actuarial Valuations report.
  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 January 29,  2013,  and  intended  for  use  only
during  the  2013  Legislative  Session,  is  Fiscal  Note  No. 2013-68,
prepared by the Actuary for the New  York  State  and  Local  Employees'
Retirement System.

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