Bill > A07335

This bill, effective immediately, allows beneficiaries of deceased members of the uniformed forces of the New York City Department of Sanitation and the New York City Department of Correction, who would have been eligible for a service retirement benefit at the time of their death and whose death occurs on or after July 1, 2026, to elect a lump-sum death benefit. This lump sum will be equal to the greater of the pension reserve that would have been established had the member retired on the date of their death, or the value of the existing death benefit plus any reserve for increased take-home pay. The pension reserve is essentially the calculated value of future pension payments a member would have received if they had retired. This change provides an alternative death benefit option, sometimes referred to as a "Death Gamble," to these specific city employees.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A7335