S 2461: Authorizes the New York state and local employees' retirement system to accept an application for disability retirement benefits from Andrew Reilly, Jr.

  
  STATE OF NEW YORK ________________________________________________________________________ 2461 2025-2026 Regular Sessions  IN SENATE January 17, 2025 ___________ Introduced by Sen. RHOADS -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions AN ACT in relation to authorizing the New York state and local employ- ees' retirement system to accept an application for disability retire- ment benefits from Andrew Reilly, Jr. 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 to the contrary, 2 the application for disability retirement benefits of Andrew Reilly, 3 Jr., who was employed as a clerk for the town of Hempstead Sanitation 4 District 1 and a member of the New York state and local employees' 5 retirement system from March 1995 until October 15, 2020, suffered a 6 stroke on February 20, 2020 and who, for reasons not ascribable to his 7 own negligence, did not apply to the New York state and local employees' 8 retirement system for disability retirement benefits because of the 9 COVID-19, novel coronavirus state of emergency, shall be deemed to have 10 applied to the New York state and local employees' retirement system for 11 disability retirement benefits within 30 days of his disability on 12 February 20, 2020. 13 § 2. All costs associated with the implementation of this act shall be 14 borne by the employers of the members of the New York state and local 15 employees' retirement system. 16 § 3. This act shall take effect immediately. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: This bill would deem Andrew Reilly Jr. to have applied to the New York State and Local Employees' Retirement System (NYSLERS) for disability benefits within thirty days of their disability on February 20, 2020. If this bill is enacted during the 2025 Legislative Session, and Andrew Reilly Jr. is subsequently approved for disability benefits pursuant to section 605 of the Retirement and Social Security Law, there will be an immediate past service cost of approximately $342,000 which EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01060-02-5 
 S. 2461 2 will be borne by the State of New York and all local participating employers in NYSLERS. This estimate assumes that payment will be made on February 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 17, 2025, and intended for use only during the 2025 Legislative Session, is Fiscal Note No. 2025-20. 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.