Bill > S06432

This bill provides a special pension benefit to Christine Floyd, the widow of Derek Floyd, a former probationary firefighter who died on April 15, 2024, after leaving employment with the New York City Fire Department on November 9, 2023. Despite not being an active member of the New York City Fire Pension Fund at the time of his death, the bill would retroactively deem Derek Floyd as having vested in the pension fund, allowing his widow to apply for and receive pension benefits as if he had been an active member when he died. Specifically, Christine Floyd would be eligible for a Tier 3 Ordinary Death Benefit equal to three times her late husband's salary (approximately $92,200), which would result in a lump sum payment of around $307,000. The entire cost of implementing this special legislation will be paid by the New York City Fire Department, and the bill would take effect immediately upon passage. The fiscal note indicates that this is a one-time cost with no ongoing annual expenses, and the estimate is based on actuarial assumptions and methods used by the city's pension systems.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S6432