NY S08714

Authorizes Rickly Dear to file a service retirement application on behalf of her deceased husband Noach Dear, a member of the unified court system and New York state and local employees' retirement system who died on April 19, 2020 from COVID-19 complications before filing for retirement.

Sets the retirement date as April 18, 2020 and allows filing with a joint allowance full option election form, provided the request is submitted to the state comptroller within one year of the act's effective date.

Waives any pre-retirement ordinary death benefits under section 448 of the retirement and social security law upon acceptance of the retirement application.

Requires deduction of all amounts previously paid by the retirement system due to Noach Dear's death from the service retirement benefit, calculated on an actuarially equivalent basis over Rickly Dear's expected lifetime.

Authorizes the State of New York to bear all additional costs, with an estimated one-time past service cost of approximately $1.06 million payable by March 1, 2021.