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
Impact
The proposed bill is expected to have financial implications for the New York state budget. It is projected that the annual costs associated with this benefit will rise by approximately $310,000 starting in the fiscal year ending in 2027. Furthermore, there is an anticipated one-time past service cost of around $4.17 million, which the state plans to amortize over a ten-year period. The adjustments to benefits under this bill reflect broader efforts to support judges and justices and ensure that their families are not left financially vulnerable in the event of their untimely passing.
Summary
Bill A10355, introduced in New York, proposes an amendment to the retirement and social security law regarding death benefits for state-paid judges and justices. This bill is specifically designed to benefit those members of the retirement system who are categorized as judges or justices of the unified court system, including housing judges within the civil court system of New York City. Under this legislation, if such a judge or justice passes away and was eligible for service retirement at the time of death, the designated beneficiaries will have the option to receive a lump sum payment corresponding to the pension reserve that would have been created had the judge or justice retired at the time of death, or the existing death benefit amount, whichever is higher.
Contention
While some stakeholders may support enhancements to the posthumous benefits for judges and justices, concerns may arise regarding the overall budget impact and prioritization of state funds. Critics might question whether allocating additional resources to this group of state employees is justified, particularly when considering the broader landscape of public service compensation and benefits. The distinct categorization of judges and justices for death benefits also raises discussions regarding equitable treatment across different public service professions.
Fiscal_note
According to the fiscal note, the estimated impact is based on demographic data of approximately 1,261 affected members as of March 31, 2025, with average annual salaries totaling around $260 million. The increased costs and potential financial strains introduced by this legislation necessitate careful assessment and consideration during the evaluation process as it moves through legislative discussions.
Same As
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.
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.
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.
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.
Allows a beneficiary of a member whose death occurs on or after July 1, 2026 and who would have been entitled to a service credit at the time of such member's death to elect to receive a lump sum payment equal to the pension reserve that would have been established had the member retired on the date of such member's death.
Allows a beneficiary of a member whose death occurs on or after July 1, 2026 and who would have been entitled to a service credit at the time of such member's death to elect to receive a lump sum payment equal to the pension reserve that would have been established had the member retired on the date of such member's death.
Relates to death benefits for members of the uniformed force of the New York city department of sanitation and members of the uniformed force of the New York city department of correction; establishes that the beneficiaries of a member who would have been entitled to a service retirement benefit at the time of such member's death may elect to receive, in a lump sum, an amount payable which shall be equal to the pension reserve that would have been established had the member retired on the date of such member's death, or the value of the death benefit and the reserve-for-increased-take-home-pay, if any, whichever is greater.