NYSBA backs bill to protect public employee pension benefits for surviving spouses
The New York State Bar Association (NYSBA) is pushing for the enactment of legislation aimed at ensuring the continuation of pension benefits for surviving spouses of public employees.
The association’s House of Delegates endorsed a proposal from its Trusts and Estates Law Section to back the Equity for Surviving Spouses Act on Jan. 19. This legislation intends to amend the default setting for New York’s eight defined benefit pension plans to a joint and 50 percent survivor annuity, guaranteeing that benefits persist for the lifetime of the surviving spouse at half the rate of the employee’s pension.
“It is imperative that spouses of public employees have access to survivor benefits to ensure the economic stability of themselves and their immediate family,” said Richard Lewis, president of the NYSBA. “This is especially true for those families with children or in instances where a large wage gap exists between spouses. The absence of such benefits could cause irreparable harm to their well-being at a time when they are most vulnerable following such a tragedy.”