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Bill > S07525
NY S07525
NY S07525Relates to death benefits for certain members under the jurisdiction of the department of corrections and community supervision.
summary
Introduced
01/19/2018
01/19/2018
In Committee
06/04/2018
06/04/2018
Crossed Over
06/04/2018
06/04/2018
Passed
12/12/2018
12/12/2018
Dead
Vetoed
12/21/2018
12/21/2018
Introduced Session
2017-2018 General Assembly
Bill Summary
AN ACT to amend the retirement and social security law, in relation to death benefits for certain members; and providing for the repeal of such provisions upon expiration thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill amends the Retirement and Social Security Law to provide enhanced death benefits for certain members under the jurisdiction of the Department of Corrections and Community Supervision. Specifically, if such a member would have been entitled to a service retirement benefit at the time of their death on or after July 1, 2018, their beneficiary(ies) may elect to receive a lump-sum payment equal to the pension reserve that would have been established had the member retired on the date of their death, or the value of the standard death benefit, whichever is greater. This provision is set to expire five years after the bill becomes law.
Committee Categories
Budget and Finance, Labor and Employment
Sponsors (3)
Last Action
VETOED MEMO.320 (on 12/21/2018)
Official Document
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