New York 2025-2026 Regular Session

New York Senate Bill S03947

Introduced
1/30/25  
Refer
1/30/25  

Caption

Specifies methods of calculating deposits and reserves for the aggregate trust fund and reserves of the state insurance fund; provides that all computations made or directed by the workers' compensation board shall be on the basis of the survivorship annuitants table of mortality, the remarriage tables of the Dutch Royal Insurance Institution applicable to claims for accidents occurring on or before December 31, 2025, and beginning January 1, 2026 and on January 1 of each tenth year thereafter, the United States life table for the total population published by the department of health and human services and the remarriage table published by the department of health and human services and the remarriage table published by the United States railroad retirement board applicable to claims for accidents occurring on or after January first of the year following the adoption of any revision of such tables; makes related provisions.

Summary

Bill S03947 aims to amend the workers' compensation law and the insurance law in New York State by specifying the methods for calculating deposits and reserves for the aggregate trust fund and the state insurance fund. It introduces new mortality and remarriage tables to be used for claims based on accidents occurring before and after specified dates, ensuring that the calculations reflect updated demographic data. The bill also adjusts the interest rates applied to various claims based on the date of the accident, which could affect how benefits are calculated and disbursed to claimants.

Impact

If enacted, this bill will modify existing statutory frameworks governing workers' compensation and insurance reserves in New York. The changes will ensure that the calculations for deposits and reserves are based on more current mortality data, potentially leading to more accurate financial assessments of the state insurance fund. This could impact how funds are allocated for future claims and the overall financial health of the workers' compensation system in New York.

Sentiment

The sentiment around Bill S03947 appears to be neutral, as there have been no recorded votes or significant public opposition or support expressed in committee discussions. The technical nature of the bill may contribute to a lack of strong opinions, with stakeholders likely focusing on the implications of the changes rather than the bill itself.

Contention

There are no notable points of contention reported in the discussions surrounding Bill S03947. Given its technical amendments to existing laws, it seems to have garnered a general consensus among legislators and stakeholders, although specific concerns may arise as the bill progresses through the legislative process.

Companion Bills

NY A04969

Same As Specifies methods of calculating deposits and reserves for the aggregate trust fund and reserves of the state insurance fund; provides that all computations made or directed by the workers' compensation board shall be on the basis of the survivorship annuitants table of mortality, the remarriage tables of the Dutch Royal Insurance Institution applicable to claims for accidents occurring on or before December 31, 2025, and beginning January 1, 2026 and on January 1 of each tenth year thereafter, the United States life table for the total population published by the department of health and human services and the remarriage table published by the department of health and human services and the remarriage table published by the United States railroad retirement board applicable to claims for accidents occurring on or after January first of the year following the adoption of any revision of such tables; makes related provisions.

Previously Filed As

NY A04969

Specifies methods of calculating deposits and reserves for the aggregate trust fund and reserves of the state insurance fund; provides that all computations made or directed by the workers' compensation board shall be on the basis of the survivorship annuitants table of mortality, the remarriage tables of the Dutch Royal Insurance Institution applicable to claims for accidents occurring on or before December 31, 2025, and beginning January 1, 2026 and on January 1 of each tenth year thereafter, the United States life table for the total population published by the department of health and human services and the remarriage table published by the department of health and human services and the remarriage table published by the United States railroad retirement board applicable to claims for accidents occurring on or after January first of the year following the adoption of any revision of such tables; makes related provisions.

NY A01996

Specifies methods of calculating deposits and reserves for the aggregate trust fund and reserves of the state insurance fund; provides that all computations made or directed by the workers' compensation board shall be on the basis of the survivorship annuitants table of mortality, the remarriage tables of the Dutch Royal Insurance Institution applicable to claims for accidents occurring on or before December 31, 2023, and beginning January 1, 2024 and on January 1 of each tenth year thereafter, the United States life table for the total population published by the department of health and human services and the remarriage table published by the department of health and human services and the remarriage table published by the United States railroad retirement board applicable to claims for accidents occurring on or after January first of the year following the adoption of any revision of such tables; makes related provisions.

NY S02683

Provides that certain charitable annuities may be unisex in nature and shall be computed on the basis of currently applicable mortality tables for calculating the reserves for individual annuities; makes related provisions.

NY H3916

Ivermectin and Hydroxychloroquine

NY S2019

Increase the net taxable estate exemption to $3,600,000 on January 1, 2027. This act would also increase the exemption by $1,000,000 on January 1, 2028 and every year thereafter until this section and the tax would sunset and expire on January 1, 2033

NY S0455

Increases the net taxable estate exemption to $3,600,000 on January 1, 2026 and increases the exemption by $1,000,000 on January 1, 2027, and every year thereafter.

NY HR43

This resolution provides for the House to attend the inaugural ceremonies of the President and Vice President of the United States on January 20, 2025, and, thereafter, for the House to stand adjourned until 12:00 p.m. (noon) on January 21, 2025.

NY S08606

Provides that beginning January 1, 2027, any order issued to set the rate of gas and electricity, not including surcharges or tariffs, shall be in effect for three years.

NY H5054

Requires that the state and all municipalities that construct buildings after January 1, 2026, budget for maintenance on a yearly basis, at least five-tenths percent (0.5%) of the total construction cost.

NY A09309

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