A 11555: Increases certain special accidental death benefits paid to a widow or widower or the children of a deceased member of the state and local retirement system.

  
  STATE OF NEW YORK ________________________________________________________________________ 11555  IN ASSEMBLY June 1, 2026 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Pheffer Amato) -- read once and referred to the Committee on Govern- mental Employees AN ACT to amend the general municipal law and the retirement and social security law, in relation to increasing the special accidental death benefit of certain deceased members The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision c of section 208-f of the general municipal 2 law, as amended by chapter 151 of the laws of 2025, is amended to read 3 as follows: 4 c. Commencing July first, two thousand [twenty-five] twenty-six the 5 special accidental death benefit paid to a widow or widower or the 6 deceased member's children under the age of eighteen or, if a student, 7 under the age of twenty-three, if the widow or widower has died, or to 8 the deceased member's parents if the member has no widow, widower, chil- 9 dren under the age of eighteen, or a student under the age of twenty- 10 three, shall be escalated by adding thereto an additional percentage of 11 the salary of the deceased member (as increased pursuant to subdivision 12 b of this section) in accordance with the following schedule: 13 calendar year of death 14 of the deceased member per centum 15 1977 or prior [313.2%] 325.6% 16 1978 [301.2%] 313.2% 17 1979 [289.5%] 301.2% 18 1980 [278.2%] 289.5% 19 1981 [267.1%] 278.2% 20 1982 [256.5%] 267.1% 21 1983 [246.1%] 256.5% 22 1984 [236.0%] 246.1% 23 1985 [226.2%] 236.0% 24 1986 [216.7%] 226.2% 25 1987 [207.5%] 216.7% EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16024-04-6 
 A. 11555 2 1 1988 [198.5%] 207.5% 2 1989 [189.8%] 198.5% 3 1990 [181.4%] 189.8% 4 1991 [173.2%] 181.4% 5 1992 [165.2%] 173.2% 6 1993 [157.5%] 165.2% 7 1994 [150.0%] 157.5% 8 1995 [142.7%] 150.0% 9 1996 [135.7%] 142.7% 10 1997 [128.8%] 135.7% 11 1998 [122.1%] 128.8% 12 1999 [115.7%] 122.1% 13 2000 [109.4%] 115.7% 14 2001 [103.3%] 109.4% 15 2002 [97.4%] 103.3% 16 2003 [91.6%] 97.4% 17 2004 [86.0%] 91.6% 18 2005 [80.6%] 86.0% 19 2006 [75.4%] 80.6% 20 2007 [70.2%] 75.4% 21 2008 [65.3%] 70.2% 22 2009 [60.5%] 65.3% 23 2010 [55.8%] 60.5% 24 2011 [51.3%] 55.8% 25 2012 [46.9%] 51.3% 26 2013 [42.6%] 46.9% 27 2014 [38.4%] 42.6% 28 2015 [34.4%] 38.4% 29 2016 [30.5%] 34.4% 30 2017 [26.7%] 30.5% 31 2018 [23.0%] 26.7% 32 2019 [19.4%] 23.0% 33 2020 [15.9%] 19.4% 34 2021 [12.6%] 15.9% 35 2022 [9.3%] 12.6% 36 2023 [6.1%] 9.3% 37 2024 [3.0%] 6.1% 38 2025 [0.0%] 3.0% 39 2026 0.0% 40 § 2. Subdivision c of section 361-a of the retirement and social secu- 41 rity law, as amended by chapter 151 of the laws of 2025, is amended to 42 read as follows: 43 c. Commencing July first, two thousand [twenty-five] twenty-six the 44 special accidental death benefit paid to a widow or widower or the 45 deceased member's children under the age of eighteen or, if a student, 46 under the age of twenty-three, if the widow or widower has died, shall 47 be escalated by adding thereto an additional percentage of the salary of 48 the deceased member, as increased pursuant to subdivision b of this 49 section, in accordance with the following schedule: 50 calendar year of death 51 of the deceased member per centum 52 1977 or prior [313.2%] 325.6% 53 1978 [301.2%] 313.2% 54 1979 [289.5%] 301.2% 55 1980 [278.2%] 289.5% 
 A. 11555 3 1 1981 [267.1%] 278.2% 2 1982 [256.5%] 267.1% 3 1983 [246.1%] 256.5% 4 1984 [236.0%] 246.1% 5 1985 [226.2%] 236.0% 6 1986 [216.7%] 226.2% 7 1987 [207.5%] 216.7% 8 1988 [198.5%] 207.5% 9 1989 [189.8%] 198.5% 10 1990 [181.4%] 189.8% 11 1991 [173.2%] 181.4% 12 1992 [165.2%] 173.2% 13 1993 [157.5%] 165.2% 14 1994 [150.0%] 157.5% 15 1995 [142.7%] 150.0% 16 1996 [135.7%] 142.7% 17 1997 [128.8%] 135.7% 18 1998 [122.1%] 128.8% 19 1999 [115.7%] 122.1% 20 2000 [109.4%] 115.7% 21 2001 [103.3%] 109.4% 22 2002 [97.4%] 103.3% 23 2003 [91.6%] 97.4% 24 2004 [86.0%] 91.6% 25 2005 [80.6%] 86.0% 26 2006 [75.4%] 80.6% 27 2007 [70.2%] 75.4% 28 2008 [65.3%] 70.2% 29 2009 [60.5%] 65.3% 30 2010 [55.8%] 60.5% 31 2011 [51.3%] 55.8% 32 2012 [46.9%] 51.3% 33 2013 [42.6%] 46.9% 34 2014 [38.4%] 42.6% 35 2015 [34.4%] 38.4% 36 2016 [30.5%] 34.4% 37 2017 [26.7%] 30.5% 38 2018 [23.0%] 26.7% 39 2019 [19.4%] 23.0% 40 2020 [15.9%] 19.4% 41 2021 [12.6%] 15.9% 42 2022 [9.3%] 12.6% 43 2023 [6.1%] 9.3% 44 2024 [3.0%] 6.1% 45 2025 [0.0%] 3.0% 46 2026 0.0% 47 § 3. This act shall take effect July 1, 2026. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would amend both the General Municipal Law and the Retire- ment and Social Security Law to increase the salary used in the computa- tion of the special accidental death benefit by three percent in cases where the date of death was before calendar year 2026. Insofar as this bill affects the New York State and Local Police and Fire Retirement System (NYSLPFRS), the present value of benefits would increase by approximately $9.86 million. 
 A. 11555 4 NYSLPFRS Increase in present Increase in required value of benefits contributions Beneficiaries $ 9.9 mn $ 0.0 mn Actives Tiers 1-5 (Closed) $ 0.0 mn $ 3.4 mn Actives Tier 6 (Open) $ 0.0 mn $ 6.5 mn Total $ 9.9 mn $ 9.9 mn Benefit improvements will be funded by increasing the billing rates charged annually. The annual contribution required of all participating employers in NYSLPFRS would increase 0.02% of billable salary, or approximately $180,000 to the state of New York and $760,000 to the local participating employers. This permanent annual cost will vary in future billing cycles with changes in the billing rate and salary of the affected members. Summary of relevant resources: Membership data as of March 31, 2025 was used to measure the impact of the bill, the same data used in the Actuarial Valuations dated April 1, 2025. Distributions and other statistics can be found in the 2025 Report of the Actuary and the 2025 Annual Comprehensive Financial Report. The actuarial assumptions and methods used are described in the 2025 Annual Report to the Comptroller on Actuarial Assumptions, and the Codes, Rules and Regulations of the State of New York: Audit and Control. The fair value of assets and GASB disclosures can be found in the 2025 Financial Statements and Supplementary Information. Assumptions, demographics, and other considerations may have been modified to better reflect specific provisions of any proposed benefit change(s). This fiscal note does not constitute a legal opinion on the viability of the bill, nor is it intended to serve as a substitute for the profes- sional judgment of an attorney. This estimate, dated May 29, 2026, and intended for use only during the 2026 Legislative Session, is Fiscal Note Number 2026-232. As Chief Actuary of the New York State and Local Retirement System (NYSLRS), I, Aaron Schottin Young, hereby certify that this analysis complies with applicable Actuarial Standards of Practice as well as the Code of Pro- fessional Conduct and Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion of the American Academy of Actuaries, of which I am a member. I am a member of NYSLRS but do not believe it impairs my objectivity. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: SUMMARY: This proposed legislation as it relates to the New York City Retirement Systems and Pension Funds (NYCRS), would increase Special Accidental Death Benefits (SADB) for Eligible Beneficiaries of former members of NYCRS who died due to an accident sustained in the perform- ance of duty. EXPECTED IMPACT ON EMPLOYER CONTRIBUTIONS* by Fiscal Year for the first 25 years ($ in Millions) Year NYCERS POLICE FIRE TOTAL 2027 0.4 4.0 4.4 8.8 2028 0.4 4.0 4.4 8.8 2029 0.4 4.0 4.4 8.8 2030 0.4 4.0 4.4 8.8 2031 0.4 4.0 4.4 8.8 2032 0.4 4.0 4.4 8.8 2033 0.4 4.0 4.4 8.8 
 A. 11555 5 2034 0.4 4.0 4.4 8.8 2035 0.4 4.0 4.4 8.8 2036 0.4 4.0 4.4 8.8 2037 0.4 4.0 4.4 8.8 2038 0.4 4.0 4.4 8.8 2039 0.4 4.0 4.4 8.8 2040 0.4 4.0 4.4 8.8 2041 0.0 0.1 0.0 0.1 2042 0.0 0.1 0.0 0.1 2043 0.0 0.1 0.0 0.1 2044 0.0 0.1 0.0 0.1 2045 0.0 0.0 0.0 0.0 2046 0.0 0.0 0.0 0.0 2047 0.0 0.0 0.0 0.0 2048 0.0 0.0 0.0 0.0 2049 0.0 0.0 0.0 0.0 2050 0.0 0.0 0.0 0.0 2051 0.0 0.0 0.0 0.0 * The costs of this proposed legislation have already been accounted for and will not result in a further increase in employer contributions. The table above shows the expected decrease in employer contributions if the proposed legislation is not enacted. The initial impact on employer contributions of $8.80 million is esti- mated to be $8.75 million for New York City and $0.05 million for the other obligors of NYCRS. PRESENT VALUE OF BENEFITS: The Present Value of Benefits is the discounted expected value of benefits paid to current members if all assumptions are met, including future service accrual and pay increases. Future new hires are not included in this present value. EXPECTED IMPACT ON ACTUARIAL PRESENT VALUES as of June 30, 2025 ($ in Millions) Present Value (PV) NYCERS POLICE FIRE (1) PV of Employer Contributions: 3.8 34.0 37.0 (2) PV of Employee Contributions: 0.0  0.0  0.0 Total PV of Benefits (1) + (2): 3.8 34.0 37.0 UNFUNDED ACCRUED LIABILITY (UAL): Actuarial Accrued Liabilities are the portion of the Present Value of Benefits allocated to past service. The decrease in expected pension payments due to this proposed legis- lation not passing would be treated as an actuarial gain. AMORTIZATION OF UNFUNDED ACCRUED LIABILITY NYCERS POLICE FIRE Increase (Decrease) in UAL: 3.5 M 32.7 M 36.6 M Number of Payments: 14 14 14 Amortization Payment: 0.4 M 3.9 M 4.3 M CENSUS DATA: The estimates presented herein are based on preliminary census data collected as of June 30, 2025. The census data for the impacted population is summarized below. NYCERS POLICE FIRE Active Members - Number Count: 18,418 33,803 10,691 
 A. 11555 6 - Average Age: 41.9 37.5 40.7 - Average Service: 11.3 11.1 13.7 - Average Salary: 108,600 134,900 143,400 Receiving Members - Number Count: 86 635 715 - Average Age: 66.8 64.1 67.6 IMPACT ON MEMBER BENEFITS: The SADB cost-of-living adjustments have been passed by the legislature each year. Under the proposed legis- lation, an additional 3.0% of Final Salary would be applied to the SADB paid effective July 1, 2026. The SADB is paid to the deceased member's surviving spouse, if alive. If the spouse is no longer alive, the SADB is paid to the deceased members children until age eighteen or until age twenty-three if a student. If neither a spouse nor a dependent child is alive, the SADB may be paid to the member's parents or certain other individuals, if eligible. The proposed legislation would impact the SADB payable to certain survivors of NYCERS, POLICE, and FIRE who were employed in certain uniformed positions of the following New York City employers: Police Department, Fire Department, Department of Sanitation, Housing Authority, Transit Authority, Department of Correction, Health and Hospitals Corporation or New York City (as Emergency Medical Techni- cian), Triborough Bridge and Tunnel Authority (Bridge and Tunnel Posi- tion), or Sheriff's Department (as Deputy Sheriff). ASSUMPTIONS AND METHODS: The estimates presented herein have been calculated based on the Revised 2021 Actuarial Assumptions and Methods of the impacted retirement systems. Based on the historical practice of providing 3.0% Cost-of-Living Adjustments (COLAs) on the SADB each year, and the likelihood that COLAs will continue to be granted in the future, the Actuary currently assumes that the SADB benefit will continue to increase 3.0% per year in the future when determining NYCRS employer contributions. RISK AND UNCERTAINTY: The costs presented in this Fiscal Note depend highly on the actuarial assumptions, methods, and models used, demo- graphics of the impacted population and other factors such as invest- ment, contribution, and other risks. If actual experience deviates from actuarial assumptions, the actual costs could differ from those presented herein. Quantifying these risks is beyond the scope of this Fiscal Note. This Fiscal Note is intended to measure pension-related impacts and does not include other potential costs (e.g., administrative and Other Postemployment Benefits). This Fiscal Note does not reflect any chapter laws that may have been enacted during the current legislative session. STATEMENT OF ACTUARIAL OPINION: Marek Tyszkiewicz and Gregory Zelikov- sky are members of the Society of Actuaries and the American Academy of Actuaries. We are members of NYCERS but do not believe it impairs our objectivity and we meet the Qualification Standards of the American Academy of Actuaries to render the actuarial opinion contained herein. To the best of our knowledge, the results contained herein have been prepared in accordance with generally accepted actuarial principles and procedures and with the Actuarial Standards of Practice issued by the Actuarial Standards Board. FISCAL NOTE IDENTIFICATION: This Fiscal Note 2026-95 dated June 1, 2026 was prepared by the Chief Actuary for the New York City Retirement Systems and Pension Funds and is intended for use only during the 2026 Legislative Session.