NY A09670

Amends retirement law to provide enhanced death benefits for Westchester County correction officers (including sergeants, captains, assistant wardens, associate wardens, and wardens) who would have been eligible to retire at the time of death.

Beneficiaries may elect to receive a lump sum payment equal to either the pension reserve as if the member had retired on their date of death, or the value of the death benefit plus any reserve-for-increased-take-home-pay, whichever is greater.

Applies to deaths occurring on or after the effective date of this law for correction officers in tiers 2 through 6 of the retirement system.

Westchester County bears all past service costs, which may be amortized over ten years; estimated at approximately $681,000 as a one-time payment, with increased annual contributions of approximately $93,000.

Takes effect immediately upon enactment.