NY S07158

Increases special accidental death benefits (SADB) for survivors of New York City uniformed employees and certain other workers by adding 3.0% of the deceased member's final salary for all deaths occurring in calendar year 2018 and later.

Shifts the effective date from July 1, 2017 to July 1, 2018 and adds a new 2018 calendar year category with 0.0% escalation to the benefit schedule.

Applies to survivors of members in the New York City Employees' Retirement System (NYCERS), Police Pension Fund, and Fire Pension Fund who were employed in uniformed positions by NYPD, FDNY, Sanitation Department, Housing Authority, Transit Authority, Department of Correction, EMTs, or Triborough Bridge and Tunnel Authority.

Increases the actuarial present value of benefits by approximately $36.9 million as of June 30, 2018, with first-year employer payments of approximately $3.4 million, though costs are estimated to have already been factored into actuarial contributions.

Takes effect July 1, 2018.