New York A 7571: Relates to raising the value of a small estate

Bill Text

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A07571 Summary:

BILL NOA07571 

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SAME ASNo Same As

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SPONSORBrabenec

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COSPNSR

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MLTSPNSR

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Authorizes Liliana Fernandez-Clemente, the widow of Daniel Clemente, to file a new service retirement application and option election form with the New York state and local employees' retirement system on behalf of such deceased member.

Go to top A07571 Actions:

BILL NOA07571 

&nbsp

04/01/2025referred to governmental employees

01/07/2026referred to governmental employees

Go to topA07571 Committee&nbspVotes:

Go to topA07571 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07571 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7571

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 1, 2025
 ___________

 Introduced by M. of A. BRABENEC -- read once and referred to the Commit-
 tee on Governmental Employees

 AN ACT in relation to authorizing Liliana Fernandez-Clemente, the widow
 of Daniel Clemente, to file a new service retirement application and
 option election form with the New York state and local employees'
 retirement system on behalf of such deceased member

 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 Liliana Fernandez-Clemente, the widow of Daniel Clemente, who was a
 3 member of the New York state and local employees' retirement system, who
 4 died after he commenced the filing of paperwork for retirement but prior
 5 to his selected retirement date, shall be authorized to file a new
 6 service retirement application and an option election form on behalf of
 7 her deceased husband with a joint allowance full option, if, within one
 8 year from the effective date of this act, she shall submit a request
 9 therefor to the state comptroller. In addition, his date of retirement
 10 shall be deemed to have been December 8, 2024. Once such application is
 11 received, any rights or benefits to the pre-retirement ordinary death
 12 benefit payable upon the death of a member in service pursuant to
 13 section 448 of the retirement and social security law shall be waived.
 14 Any amounts paid by the New York state and local employees' retirement
 15 system as the result of the death of Daniel Clemente prior to the filing
 16 of the request for a service retirement benefit pursuant to this section
 17 shall be deducted from the service retirement benefit payable thereaft-
 18 er.
 19 § 2. Any additional costs for this act shall be paid by the state of
 20 New York.
 21 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10114-02-5

 A. 7571 2

 This bill would authorize Liliana Fernandez-Clemente, the widow of
 deceased member Daniel Clemente, to file a new service retirement appli-
 cation and option election form with the New York State and Local
 Employees' Retirement System (NYSLERS). The date of retirement will be
 December 8, 2024, one day prior to the date of death of Daniel Clemente.
 The option election will be a joint allowance full. Any ordinary death
 benefit paid by NYSLERS prior to the filing of a new service retirement
 application will be deducted from the benefits payable under this legis-
 lation.
 If this bill is enacted during the 2025 Legislative Session, there
 will be an immediate past service cost of approximately $634,000 which
 will be borne by the State of New York as a one-time payment. This esti-
 mate assumes that payment will be made on March 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