NY A10570

Allows beneficiaries of deceased members to choose between an active member death benefit or a survivor's pension benefit if the member was eligible to retire, died in active service, and filed a retirement application less than 90 days before death.

If an option election form was filed before death, the option beneficiary may choose between benefits; if no option election was filed, the death beneficiary may choose.

When a beneficiary selects the service retirement benefit, they must choose an optional form of payment and the member is deemed to have retired the day before death.

If multiple beneficiaries cannot agree on the choice, the service retirement benefit defaults to the member's previously filed option election, or the death benefit defaults if there is no agreement on an option.

Applies to both the New York State and Local Employees' Retirement System (NYSLERS) and the New York State and Local Police and Fire Retirement System (NYSLPFRS), with estimated annual impact on more than 600 beneficiaries.