NY A08655

Increases the special accidental death benefit for survivors of certain public employees who died in the line of duty by adding 3% to the salary percentage used in benefit calculations, effective July 1, 2025

Applies to widows, widowers, children under 18 (or under 23 if students), and parents of deceased members in the New York State and Local Police and Fire Retirement System and New York City Retirement Systems

Updates benefit escalation schedules for deaths occurring from 1977 through 2024, with the highest percentage (313.2%) applying to deaths in 1977 or prior

Estimated annual cost to New York State and Local Police and Fire Retirement System employers is approximately $920,000 ($170,000 state, $750,000 local employers)

New York City Retirement Systems costs are already budgeted at approximately $8.5 million annually, primarily for Police ($3.8 million) and Fire ($4.3 million) department survivor benefits