AAC-41-15-00001-P Mortality and Service Tables for Valuation Purposes

10/14/15 N.Y. St. Reg. AAC-41-15-00001-P

NEW YORK STATE REGISTER

VOLUME XXXVII, ISSUE 41

October 14, 2015

RULE MAKING ACTIVITIES

DEPARTMENT OF AUDIT AND CONTROL

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. AAC-41-15-00001-P

Mortality and Service Tables for Valuation Purposes

PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:

Proposed Action:

This is a consensus rule making to amend section 310.1; repeal of Tables 1-20 - Appendix 10; and addition of new Tables 1-20 - Appendix 10 to Title 2 NYCRR.

Statutory authority:

Retirement and Social Services Law, sections 11 and 311

Subject:

Mortality and service tables for valuation purposes.

Purpose:

To update the mortality and service tables for valuation purposes.

Substance of proposed rule:

This proposed amendment updates the mortality and service tables used for the actuarial valuation of all the liabilities of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System.

Text of proposed rule and any required statements and analyses may be obtained from:

Jamie Elacqua, Office of the State Comptroller, 110 State Street, Albany, NY 12236, [phone], email: [e-mail]

Data, views or arguments may be submitted to:

Same as above.

Public comment will be received until:

45 days after publication of this notice.

Consensus Rule Making Determination

This is a consensus rulemaking proposed for the sole purpose of updating the mortality and service tables for valuation purposes. This amendment updates the regulatory language and the appropriate mortality and service tables used for valuation purposes and it has been determined that no person is likely to object to the adoption of the rule as written.