Permits a retired member to change their option election or designate a new beneficiary where the beneficiary has been convicted of a family offense.
Summary
Bill A05223 amends the retirement and social security law, the education law, and the administrative code of New York City to allow retired members to change their option election or designate a new beneficiary if the current beneficiary has been convicted of a family offense. This provision is particularly aimed at protecting retired members who may have been complainants in such cases, granting them a window of 180 days from the date of conviction to make these changes. The bill mandates that the comptroller, in consultation with relevant state agencies, ensure that retired members are informed of these changes.
Impact
The bill modifies existing laws regarding beneficiary designations for retired members of the retirement system, allowing them greater flexibility and protection in cases where their beneficiaries have committed family offenses. This change could potentially affect the financial and legal obligations of the retirement system and may lead to an increase in requests for beneficiary changes, necessitating adjustments in administrative processes.
Sentiment
The general sentiment around Bill A05223 appears to be supportive, as it addresses the concerns of retired members who may find themselves in difficult situations due to the actions of their beneficiaries. However, without recorded votes or committee discussions, the extent of support or opposition remains unclear.
Contention
There may be points of contention regarding the implications of allowing changes to beneficiary designations based on criminal convictions, particularly concerning the definitions of family offenses and the potential for abuse of this provision. Stakeholders may include advocates for domestic violence victims, retirement system administrators, and legal experts who may have differing views on the balance between protecting retirees and ensuring the integrity of the retirement system.
Same As
Permits a retired member to change their option election or designate a new beneficiary where the beneficiary has been convicted of a family offense.
To Amend Law Concerning Retirement Benefits; And To Prohibit Collection Of Benefits By Members, Retirants, Or Beneficiaries Of Retirement Systems Who Have Been Convicted Of Certain Offenses.
An act to amend Sections 75522, 75522.5, 75570, 75570.5, 75571.5, 75590, and 75591 of, and to add Section Sections 75571.7 and 75574 to, the Government Code, relating to judges’ retirement.
Authorizes Marie Glarakis, a former Suffolk county police officer who is receiving a performance of duty disability retirement, to change the designated beneficiary of her retirement benefits and her retirement option to single life allowance (Option 0).
Authorizes Marie Glarakis, a former Suffolk county police officer who is receiving a performance of duty disability retirement, to change the designated beneficiary of her retirement benefits and her retirement option to single life allowance (Option 0).