New York A 7671: Authorizes Marie Glarakis to change the designated beneficiary of her retirement benefits

Bill Text

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A07671 Summary:

BILL NOA07671A

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SAME ASSAME AS S06854-A

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SPONSORO'Pharrow

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COSPNSR

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MLTSPNSR

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&nbsp

Authorizes Marie Glarakis, a former Suffolk county police officer who is receiving a performance of duty disability retirement, to change the designated beneficiary of her retirement benefits and her retirement option to single life allowance (Option 0).

Go to top A07671 Actions:

BILL NOA07671A

&nbsp

04/04/2025referred to governmental employees

01/07/2026referred to governmental employees

02/06/2026amend and recommit to governmental employees

02/06/2026print number 7671a

Go to topA07671 Committee&nbspVotes:

Go to topA07671 Floor&nbspVotes:

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

Go to topA07671 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7671--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 4, 2025
 ___________

 Introduced by M. of A. O'PHARROW -- read once and referred to the
 Committee on Governmental Employees -- recommitted to the Committee on
 Governmental Employees in accordance with Assembly Rule 3, sec. 2 --
 committee discharged, bill amended, ordered reprinted as amended and
 recommitted to said committee

 AN ACT authorizing Marie Glarakis to change the designated beneficiary
 of her retirement benefits

 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 Marie Glarakis, who is receiving a performance of duty disability
 3 retirement from the New York State and Local Police and Fire Retirement
 4 System and who retired from the Suffolk county police department on
 5 December 27, 2010, and who had previously named James Scandariato as her
 6 designated pension beneficiary, shall be permitted to change her benefi-
 7 ciary and her retirement option from "Joint allowance" to "Single life
 8 allowance" (Option 0) wherein no beneficiary is selected and the pension
 9 benefit ceases upon the death of the member, if on or before six months
 10 after the effective date of this act, Marie Glarakis shall submit a
 11 request therefor to the state comptroller. Such benefit shall be recal-
 12 culated and her new benefit amount shall be paid as of the effective
 13 date of this act.
 14 § 2. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 This bill would authorize Marie Glarakis to change their retirement
 option election from a pop-up joint allowance full to a single life
 allowance. The single life allowance benefit would be paid prospectively
 only.
 There will be an immediate past service cost of $47,900 shared by all
 participating employers in NYSLPFRS and spread over future billing
 cycles.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09315-04-6

 A. 7671--A 2

 Summary of relevant resources:
 Membership data as of March 31, 2025 was used to measure the impact of
 the bill, the same data used in the Actuarial Valuations dated April 1,
 2025. Distributions and other statistics can be found in the 2025 Report
 of the Actuary and the 2025 Annual Comprehensive Financial Report. The
 actuarial assumptions and methods used are described in the 2025 Annual
 Report to the Comptroller on Actuarial Assumptions, and the Codes, Rules
 and Regulations of the State of New York: Audit and Control. The fair
 value of assets and GASB disclosures can be found in the 2025 Financial
 Statements and Supplementary Information.
 Assumptions, demographics, and other considerations may have been
 modified to better reflect specific provisions of any proposed benefit
 change(s).
 This fiscal note does not constitute a legal opinion on the viability
 of the bill, nor is it intended to serve as a substitute for the profes-
 sional judgment of an attorney.
 This estimate, dated February 6, 2026, and intended for use only
 during the 2026 Legislative Session, is Fiscal Note Number 2026-102. As
 Chief Actuary of the New York State and Local Retirement System
 (NYSLRS), I, Aaron Schottin Young, hereby certify that this analysis
 complies with applicable Actuarial Standards of Practice as well as the
 Code of Professional Con