NY A10480

Authorizes Tracy K. McMahon-Jenkins to file a new service retirement application and option election form on behalf of her deceased husband, Aloysius F. McMahon, a member of the New York state and local employees' retirement system.

Establishes Aloysius F. McMahon's retirement date as September 12, 2018, notwithstanding his death on September 13, 2018, allowing him to be treated as having retired before death.

Allows the widow to elect a joint allowance full option for the retirement benefit, provided she submits the request to the state comptroller within one year of the act's effective date.

Requires any pre-retirement ordinary death benefits previously paid by the retirement system to be deducted from the service retirement benefit payable to the widow.

Establishes a one-time state cost of approximately $1.74 million, to be paid by New York State on March 1, 2025, with the act taking effect immediately.