NY S07544

Allows state police officers who die without 20 years of service credit to qualify for an improved death benefit by counting unused sick leave and accumulated vacation credit toward service requirements.

Beneficiaries of eligible state police officers may elect to receive a lump sum equal to the pension reserve that would have been established if the officer had retired on the date of death, or the value of the death benefit and reserve-for-increased-take-home-pay, whichever is greater.

Extends similar death benefit provisions to police officers and firefighters who die after retiring but before receiving their first retirement payment.

All past service costs incurred by this legislation shall be paid by the State of New York, with future costs shared among current members over their working lifetimes.

Takes effect immediately and applies retroactively to deaths occurring on or after July 2, 2009, with estimated cost of approximately $357,000 for one known affected case.