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NY S07567
Bill
Status
Vetoed
12/13/2024
Primary Sponsor
Luis Sepulveda
Click for details
AI Summary
- Establishes new death benefit provisions for state-paid judges and justices of the unified court system, including retired judges/justices serving by certification and housing judges of the civil court of New York City
- Allows beneficiaries to elect a lump sum death benefit equal to the pension reserve that would have been established if the judge/justice retired on their date of death, or the value of the death benefit plus reserve-for-increased-take-home-pay, whichever is greater
- Applies to judges and justices who would have been eligible for service retirement at time of death, with deaths occurring on or after the effective date
- Directs the state to bear all past service costs, which may be amortized over 10 years, with estimated one-time cost of $3.86 million and annual ongoing cost increases of approximately $243,000
- Takes effect immediately and exempts provisions from the appropriation requirement of retirement and social security law
Legislative Description
Permits an eligible retirement system member to receive, in lieu of an ordinary death benefit, a death benefit such member would otherwise be entitled to receive provided such member is a state-paid judge or justice of the unified court system or a housing judge of the civil court of the city of New York.
Last Action
VETOED MEMO.102
12/13/2024
Committee Referrals
Ways and Means6/6/2024
Rules6/6/2024
Civil Service and Pensions1/3/2024
Rules6/7/2023
Full Bill Text
No bill text available