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CHAPTER 592

(See FISCAL NOTES at end of Chapter.) AN ACT to amend the retirement and social security law, in relation to

retirement allowance options
Became a law July 24, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present. The People of the State of New York, represented in Senate and Assenbly, do enact as follows:

Section 1. Subdivision a of section 514 of the retirement and social security law, as added by chapter 890 of the laws of 1976, is amended to read as follows:

a. A member, or if he or she is an incompetent, the member's spouse or the committee of such member's property, may elect to receive the actuarial equivalent of the retirement allowance at the time of retirement, in the form of a smaller retirement allowance payable to such member for life and one of the following optional settlements: Option one.

Upon the member's death, a retirement allowance in an amount equal to that paid to the member shall be paid for life to the beneficiary so designated.

Option two. Upon the member's death, a retirement allowance of ninety percent or less measured in increments of not less than ten percent) of the amount paid to such member shall be paid for life to the beneficiary so designated.

Option three. A five-year certain option under which payment is made to the member for life but is guaranteed for a minimum of five

years following retirement.

Option four. A ten-year certain option under which payment is made to the member for life but is guaranteed for a minimum of ten years following retirement.

Option five. Upon the member's death, a retirement allowance in an amount equal to fifty percent or one hundred percent of that paid to the member shall be paid for life to such person as he shall nominate by written designation duly acknowledged and filed with the retirement system at the time of retirement. Upon the death, prior to the death of the member, of said person so nominated, the member shall begin receiving, in lieu of the allowance then payable, an allowance equal in amount to that which would have been payable if no optional modification of the retirement allowance were in effect.

§ 2. Subdivision of section 610 of the retirement and social security law, as added by chapter 414 of the laws of 1983, is amended to read as follows:

Until the effective date of retirement a member may elect to receive the actuarial equivalent of the retirement allowance at the time of retirement, in the form of a smaller retirement allowance payable to such member for life and one of the following optional settlements; Option one.

the member's death, a retirement allowance in an amount equal to that paid to the member shall be paid for life to such person as he shall nominate by written designation duly acknowledged and filed with the retirement system at the time of retirement.

Option two. Upon the member's death, a retirement allowance of seventy-five percent or less (measured in increments of twenty-five percent) of the amount paid to such member shall be paid for life to such person as he shall nominate by written designation duly acknowledged and filed with the retirement system at the time of retirement.

Option three. A five-year certain option under which payment is made to the member for life but is guaranteed for a minimum of five following retirement. Such payments shall continue to a person as he shall nominate by written designation, duly acknowledged and filed with the retirement system, for the unexpired balance of the five-year guaranteed period. If said beneficiary should predecease him, the muted value of any installments due during the unexpired balance of the five-year guaranteed period shall be paid in a single

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duly designated contingent beneficiary, or if none exists to the legal repre: sentative of the member. Should a beneficiary who has commenced of the payments die before the said guaranteed minimum period, the commuted value of any installments due during the unexpired balance of

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guaranteed period shall be paid in a single sum to a duly designated contingent beneficiary or if none exists, to the legal representative of said deceased primary beneficiary.

Option four. A ten-year certain option under which payment is made to the member for life but is guaranteed for a minimum of ten years following retirement. Such payments shall continue to a person as he shall nominate by written designation, duly acknowledged and filed with the retirement system, for the unexpired balance of the ten-year guaranteed period. If said beneficiary should predecease him, the commuted value of any installments due, during the unexpired balance

of the ten-year guaranteed period shall be paid in a single sum

to duly designated contingent beneficiary or if none exists to the legal representative of the member. Should a beneficiary who has commenced receipt of the payments die before the said guaranteed minimum period, the commuted value of any installments due during the unexpired balance of the tenyear guaranteed period shall be paid in a single sum to a duly designated contingent beneficiary or if none exists to the legal representative of said deceased primary beneficiary, Option five. Upon

the member's death, a retirement allowance in an amount equal to fifty percent or one hundred percent of that paid to the member shall be paid for life to such person as he shall nominate by written designation duly acknowledged and filed with the retirement system at the time of retirement. Upon the death, prior to the death of the member, of said person so nominated, the member shall begin receiving, in lieu of the allowance then payable, an allowance equal in amount to that which would have been payable if no optional modification of the retirement allowance were in effect.

§ 3. This act shall take effect on the one hundred twentieth day after it shall have become a law and the amendments to sections 514 and 610 of the retirement and social security law made by sections one and two of this ache shall not affect the expiration provided for in articles 14 and

retirement FISCAL NOTE. - This bill would expand the number of options available to a retiring Tier 3 and Tier 4 member of a public retirement system of New York State.

Insofar as this bill affects the New York State and Local Employees' Retirement System, the cost of this measure will be borne by the retiring members who select the new option, and who will receive a reduced retirement allowance. In addition, there'will be a small administrative cost to modify estimate forms that are sent to members contemplating retirement. This cost would be shared by the State of New York and all the participating employers in the New York State and Local Employees' Retirement System.

This estimate, dated March 26, 1992 and intended for use only, during the 1992 Legislative Session, is Fiscal Note No. 92-252 prepared by the Actuary for the New York State and Local Employees' Retirement System.

FISCAL NOTE. -This bill amends subdivision a of Sections 514 and 610 of the retirement and social security law to allow members of a public retirement system who elect a joint and survivor option at retirement, to elect an additional option at retirement which would provide upon the death of the beneficiary, payment of the maximum annual allowance shall be paid to the member for life.

It is estimated that the additional annual cost to the employers of members of the New York State Teachers' Retirement System for this benefit will be negligible.

The source of this estimate is Fiscal Note 92-46 dated May 12, 1992 prepared by the Actuary of the New York State Teachers' Retirement System and is intended for use only during the 1992 Legislative Session.

FISCAL NOTE. - This proposed legislation would amend the Retirement and Social Security Law to expand the number of retirement allowance options available to retiring Tier III and Tier IV members. This additional option at retirement would provide that, upon the member's death, a retirement allowance equal to 50% or 100% of that paid to the member would be paid for life to the member's beneficiary. However, if the member's “beneficiary should die prior to the member, then thé member's retirement allowance would be adjusted (i. e. , "popped-up") to equal that which would have been payable if no optional modification of the retirement allowance were in effect. EXPLANATION-Matter in italics is new; matter in brackets [] is old law

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Insofar as this proposed legislation affects Tier III and Tier IV members of the New York City Employees' Retirement System, the New York City Teachers' Retirement System, and the New York City Board of Education Retirement System, the enactment of this proposed legislation would not result in any increase in employer contributions cost on account of benefits.

This estimate is intended for use only during the 1992 Legislative Session. It is Fiscal Note No. 92-27 dated April 22, 1992, prepared by the Chief Actuary for the New York City Employees? Retirement System, the New York City Teachers' Retirement System, and the New York City Board of Education Retirement System.

CHAPTER 593

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AN ACT to amend the workers' compensation law in relation to disability

benefits to certain spouses of employers
Became a law July 24, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present. The People of the State of New York, represented in Senate and Assenbly, do enact as follows:

Section 1. The opening paragraph of subdivision 5 of section 201 of the workers' compensation law, as amended by chapter 167 of the laws of 1988, is amended to read as follows:

"Employee" means a person engaged in the service of an employer in any employment defined in subdivision six of this section, except (the spouse or] a minor child of the employer, except a domestic or personal worker in a private home who is employed for less than forty hours per week by any one employer, and except a duly ordained, commissioned, or licensed minister, priest rabbi, sexton, christian science reader, or member of a religious order, or an executive officer of a corporation who at all times during the period involved owns all of the issued and outstanding stock of the corporation and holds all of the offices pursuant to paragraph (e) of section seven hundred fifteen of the business corporation law or two executive officers of a corporation who at all times during the period involved between them own all of the issued and outstanding stock of such corporation and hold all such offices, except as provided in section two hundred twelve of this article, or an executive officer of an incorporated religious, charitable or educational institution, or persons engaged in a professional or teaching capacity in or for a religious, charitable or educational institution, or volunteers in or for a religious, charitable or educational institution,

or persons participating in and receiving rehabilitative services in a sheltered workshop operated by a religious, charitable or educational institution under certificate issued by the United States department of labor, or recipients of charitable aid from a religious or charitable institution who perform work in or for the institution which is incidental to or in return for the aid conferred, and not under an express contract of hire, The terms "religious, charitable or educational institution" mean a corporation, unincorporated association, community chest, fund or foundation organized and operated exclusively for religious, charitable or educational purposes, no part of the net earnings of which inure

the benefit of any private shareholder or individual.

§ 2. Section 212 of the workers' compensation law is amended by adding a new subdivision 5 to read as follows:

А şpouse who is an employee of a covered employer shall be deemed to be included in the employer''s disability benefits insurance contract

covered by a certificate of self-insurance or a plan under section two hundred eleven of this article, unless the employer elects to exclude such spouse from the coverage of this article. Such election shall be made by any such employer filing with the insurance carrier,

or

the chair of the workers' compensation board in the case of self-insurance, upon a form prescribed by the chair, a notice that the employer elect's to exclude such spouse named in the notice from the coverage of this article. Such election shall be effective with respect to all policies issued to such employer by such insurance carrier as long as it shall

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continuously insure the employer. Such election shall be final and binding by

3. This act shall take effect on the first day of January next succeeding the date on which it shall have become a law and shall apply to contracts issued or renewed on or after such date.

CHAPTER 594

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AN ACT to amend the real property tax law, in relation to classifying certain property as within the homestead class for

purposes of real property taxation Became a law July 24, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Paragraph (a) of subdivision 13 of section 1901 of the real property tax law, as added by chapter 355 of the laws of 1990, is amended to read as follows:

(a) "Homestead class" means (1) all one, two or three family dwelling residential real property, including such dwellings used part for nonresidential purposes but which are used primarily for residential purposes, and farm dwellings, , [and] (2) all other residential real property consisting of more than three dwelling, units held in condominium form of ownership, provided that, in other than approved

approved assessing units which have adopted the provisions of section nineteen hundred three of this article prior to April thirtieth, nineteen hundred eightythree, such dwelling unit previously was an assessment roll as a dwelling unit in other than condominium form of ownership, and provided further that the governing body of an approved assessing unit which, prior to April thirtieth, nineteen hundred eighty-three, has adopted the provisions of section nineteen hundred three of this article may by local law adopted after a public hearing prior to the taxable status date of such' assessing unit next occurring after December thirty-first, nineteen hundred eighty-three, provided that all such property

the assessment roll of such assessing unit on April thirtieth, nineteen hundred eighty-three shall not be classified in the homestead class, and (3) all vacant land parcels located in an assessing unit which has a zoning law or ordinance in effect, provided that such parcel is located in zone that does not allow residential use other than that described in subparagraph one of this paragraph, provided further, that such parcel does not exceed ten acres.

§ 2. This act shall take effect immediately and shall apply to assessment rolls prepared pursuant to a taxable status date occurring after December 1, 1992.

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CHAPTER 595

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AN ACT to amend the estates, powers and trusts law and the surrogate's

court procedure act, in relation to payment of shares of infants, in-
competents, conservatees, or persons under disability and the election
by surviving spouse
Became a law July 24, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present.
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:

Section 1. Section 1-2. 14 of the estates, powers and trusts law, the section heading as amended by chapter 686 of the laws of 1967, is amended to read as follows:

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§ 1-2. 14 Per stirpes

А per stirpes disposition or distribution of property is [per stirpes when it is) made to persons who take as issues, in equal portions,

the share which their] of a deceased ancestor [would have taken if living] in the following manner:

The property so passing is divided into as many equal shares as there are (i) surviving issue in the generation nearest to the deceased cestor which contains one or more surviving issue and (ii) deceased issue in the same generation who left surviving issue, if any. Each viving member in such nearest generation is allocated one share. The share of a deceased issue in such nearest generation who left surviving issue shall be distributed in the same manner to such issue.

§ 2. Sections 1-2. 16, 1-2. 17 and 1-2. 18 of the estates, powers and trusts law are renumbered sections 1-2. 17, 1-2. 18 and 1-2. 19' and section 1-2.16 is added to read as follows: § 1-2.16 Representation

By representation means a disposition or distribution of property made in the following manner to persons who take as issue of a predeceased ancestor :

The property so passing is divided into as many equal shares as there are (i) surviving issue in the generation nearest to the deceased cestor which contains one or more surviving issue and (ii) deceased issue in the same generation who left surviving issue, if any. Each surviving member in such nearest generation is allocated one share. The remaining shares, if any, are combined and then divided in the same manner among the surviving issue of the deceased issue as if the surviving issue who are allocated a share had predeceased the decedent, without issue.

§ 3. Section 2-1.2 of the estates, powers and trusts law is amended to read as follows: § 2-1.2, Issue to take per capita [or], per stirpes or by representation

(a) Instruments executed prior to September first, nineteen hundred ninety-two. Whenever a disposition (or distribution) of property is made to "'issue", such issue, if in equal degree of consanguinity to their common ancestor, take per capita, but if in unequal degree, per stirpes, unless_a contrary intention is expressed.

(b) Instrument's executed on or after September first, nineteen hundred ninety-two. Whenever a disposition of property is made to "issue", such issue take by representation as defined in 1-2.16, unless a contrary intention is expressed.

5 4. Paragraph (e) of section 2-1.5 of the estates, powers and trusts law, as added by chapter 686 of the laws of 1967, is amended to read follows:

(e) Nothing in this section shall increase or decrease the elective share of a surviving spouse under either 5-1. 1 or 5-1.1-A except to the extent authorized by paragraph (b) [thereof) of those sections.

§ 5. Paragraph (d) of section 2-1. 11 of the estates, powers and trusts law as amended by chapter 570 of the laws of 1980, is amended to read as follows:

(d) Unless the creator of the disposition has otherwise provided, the filing of a renunciation, as provided in this section, has the same effect with respect to the renounced interest as though the renouncing person had predeceased the creator or the decedent or, if the renounced interest is a future estate, as though the renouncing person had died at the time of filing or just prior to its becoming an estate in

possession, whichever is earlier in time, and shall have the effect of accel, erating the possession and enjoyment of subsequent interests, but shall have no effect upon the vesting of a future estate which by the terms of the disposition is limited upon preceding estate other than the renounced interest, nor if the renunciation is of a distributive share,]. Nor shall tit] a renunciation decrease the share of any other distributee, legatee, devisee or other beneficiary, Such renunciation is retroactive to the creation of the disposition. A person who present and a future interest in property and renounces [his] the press ent interest in whole or in part shall be deemed to have renounced (his] the future interest to the same extent.

§ 6. Section 3-3. 3 of the estates, powers and trusts law, subparagraph 1 of paragraph (a) as amended by chapter 686 of the laws of 1967 and paragraph (b) as amended by chapter 408 of the laws of 1986, is amended to read as follows: § 3-3. 3 Disposition

to issue or brothers or sisters of testator not to lapse; application to class dispositions

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