New York S 10492: Relates to a service retirement application and option election on behalf of Santiago Francisco Mayol

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S10492 Summary:

BILL NOS10492A

&nbsp

SAME ASNo Same As

&nbsp

SPONSORGOUNARDES

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

&nbsp

Authorizes Aileen Colon, the widow of Santiago Francisco Mayol, to file a new service retirement application and option election form on behalf of her deceased spouse.

Go to top S10492 Actions:

BILL NOS10492A

&nbsp

05/15/2026REFERRED TO CIVIL SERVICE AND PENSIONS

06/03/2026AMEND AND RECOMMIT TO CIVIL SERVICE AND PENSIONS

06/03/2026PRINT NUMBER 10492A

Go to topS10492 Committee&nbspVotes:

Go to topS10492 Floor&nbspVotes:

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

Go to topS10492 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10492--A

 IN SENATE

 May 15, 2026
 ___________

 Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
 printed to be committed to the Committee on Civil Service and Pensions
 -- committee discharged, bill amended, ordered reprinted as amended
 and recommitted to said committee

 AN ACT relating to authorizing Aileen Colon, the widow of Santiago Fran-
 cisco Mayol, to file a new service retirement application and option
 election form on behalf of her spouse

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Notwithstanding any provision of law to the contrary,
 2 Aileen Colon, the widow of Santiago Francisco Mayol, who was a member of
 3 the New York city teachers' retirement system and who died suddenly
 4 after giving notice to his employer of his pending retirement but prior
 5 to filing for retirement, shall be authorized to file a new service
 6 retirement application and option election form on behalf of her
 7 deceased husband with a joint allowance full option, if, within one year
 8 of the effective date of this act, she shall submit a request therefor
 9 to the retirement board as defined in subdivision 3 of section 13-501 of
 10 the New York city administrative code. In addition, Santiago Francisco
 11 Mayol's date of retirement shall be deemed to have been September 21st,
 12 2024. Once such application is received, any rights or benefits to the
 13 death benefit payable upon the death of a member in service pursuant to
 14 section 606 of the retirement and social security law shall be waived.
 15 Any amounts paid by the New York city teachers' retirement system as the
 16 result of the death of Santiago Francisco Mayol prior to the filing of
 17 the request for a service retirement benefit pursuant to this section
 18 shall be deducted from such benefit payable thereafter.
 19 § 2. Any additional costs as a result of this act shall be paid by the
 20 city of New York.
 21 § 3. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 SUMMARY: This proposed legislation would allow the widow of deceased
 New York City Teachers' Retirement System (TRS) member, Santiago Fran-

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD15174-02-6

 S. 10492--A 2

 cisco Mayol, to retroactively file a service retirement election with a
 full joint allowance option on his behalf.

 EXPECTED INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS
 by Fiscal Year for the first 25 years ($ in Millions)

 Year TRS

 2027 0
 2028 1.2
 2029 0
 2030 0
 2031 0
 2032 0
 2033 0
 2034 0
 2035 0
 2036 0
 2037 0
 2038 0
 2039 0
 2040 0
 2041 0
 2042 0
 2043 0
 2044 0
 2045 0
 2046 0
 2047 0
 2048 0
 2049 0
 2050 0
 2051 0

 The entire increase in employer contributions will be allocated to New
 York City.
 PRESENT VALUE OF BENEFITS: The Present Value of Benefits is the
 discounted expected value of benefits paid to current members if all
 assumptions are met.

 INITIAL INCREASE (DECREASE) IN ACTUARIAL PRESENT VALUES
 as of June 30, 2026 ($ in Millions)

 Present Value (PV) TRS

 (1) PV of Employer Contributions: 1.1
 (2) PV of Employee Contributions: 0
 Total PV of Benefits (1) + (2): 1.1

 UNFUNDED ACCRUED LIABILITY (UAL): Actuarial Accrued Liabilities are
 the portion of the Present Value of Benefits allocated to past service.
 For purposes of this Fiscal Note, UAL attributable to inactive members
 was recognized immediately.

 AMORTIZATION OF UNFUNDED ACCRUED LIABILITY
 TRS