STATE OF NEW YORK ________________________________________________________________________ 9669--A IN SENATE May 16, 2024 ___________ Introduced by Sen. JACKSON -- read twice and ordered printed, and when printed to be committed to the Committee on Civil Service and Pensions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the administrative code of the city of New York, in relation to the establishment of a twenty-two and one-half year retirement program for members of the New York city employees' retire- ment system employed as emergency medical technicians and advanced emergency medical technicians; and to amend the retirement and social security law, in relation to the establishment of twenty-two and one- half year retirement programs for such members who are subject to articles 11 and 15 of such law The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The administrative code of the city of New York is amended 2 by adding a new section 13-157.5 to read as follows: 3 § 13-157.5 Twenty-two and one-half year retirement program for EMT 4 members. a. Definitions. The following words and phrases as used in 5 this section shall have the following meanings unless a different mean- 6 ing is plainly required by the context. 7 1. "EMT member" shall mean (i) a member of the retirement system who 8 is employed by the city of New York or by the New York city health and 9 hospitals corporation in a title whose duties are those of an emergency 10 medical technician or advanced emergency medical technician, as those 11 terms are defined in section three thousand one of the public health 12 law, and (ii) a member of the retirement system who, on the effective 13 date of this section or thereafter, was employed by the city of New York 14 or by the New York city health and hospitals corporation in a title 15 whose duties are those of an emergency medical technician or advanced 16 emergency medical technician, as those terms are defined in section 17 three thousand one of the public health law and who, subsequent thereto, 18 became employed by the city of New York or by the New York city health 19 and hospitals corporation in a title whose duties require the super- 20 vision of employees whose duties are those of an emergency medical tech- EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14122-05-4
S. 9669--A 2 1 nician or advanced emergency medical technician, as those terms are 2 defined in section three thousand one of the public health law. 3 2. "Twenty-two and one-half year retirement program" shall mean all 4 the terms and conditions of this section. 5 3. "Starting date of the twenty-two and one-half year retirement 6 program" shall mean the effective date of this section, as such date is 7 certified pursuant to section forty-one of the legislative law. 8 4. "Participant in the twenty-two and one-half year retirement 9 program" shall mean any EMT member who, under the applicable provisions 10 of subdivision b of this section, is entitled to the rights, benefits 11 and privileges and is subject to the obligations of the twenty-two and 12 one-half year retirement program as applicable to such member. 13 5. "Discontinued member" shall mean a participant in the twenty-two 14 one-half year retirement program who, while they were an EMT member, 15 discontinued service as such a member and has a right to a deferred 16 vested benefit under the provisions of subdivision d of this section. 17 6. "Creditable city service" for purposes of this section shall mean 18 (i) all service while employed by the city of New York or by the New 19 York city health and hospitals corporation in a title whose duties are 20 those of an emergency medical technician or advanced emergency medical 21 technician, as those terms are defined in section three thousand one of 22 the public health law; and (ii) with respect to an individual who was 23 employed on the effective date of this section in a title whose duties 24 are those of an emergency medical technician or advanced emergency 25 medical technician, as those terms are defined in section three thousand 26 one of the public health law, all such service subsequent thereto in a 27 title whose duties require the supervision of employees whose duties are 28 those of an emergency medical technician or advanced emergency medical 29 technician, as those terms are defined in section three thousand one of 30 the public health law; and (iii) all service while employed by the city 31 of New York or by the New York city health and hospitals corporation in 32 the title motor vehicle operator. 33 b. Participation in twenty-two and one-half year retirement program. 34 1. Subject to the provisions of paragraphs five and six of this subdivi- 35 sion, any person who is an EMT member on the starting date of the twen- 36 ty-two and one-half year retirement program may elect to become a 37 participant in the twenty-two and one-half year retirement program by 38 filing, within one hundred eighty days after the starting date of the 39 twenty-two and one-half year retirement program, a duly executed appli- 40 cation for such participation with the retirement system of which such 41 person is a member, provided such person is such an EMT member on the 42 date such application is filed. 43 2. Subject to the provisions of paragraphs five and six of this subdi- 44 vision, any person who becomes an EMT member after the starting date of 45 the twenty-two and one-half year retirement program may elect to become 46 a participant in the twenty-two and one-half year retirement program by 47 filing, within one hundred eighty days after becoming such an EMT 48 member, a duly executed application for such participation with the 49 retirement system of which such person is a member, provided such person 50 is such an EMT member on the date such application is filed. 51 3. Any election to be a participant in the twenty-two and one-half 52 year retirement program shall be irrevocable. 53 4. Where any participant in the twenty-two and one-half year retire- 54 ment program shall cease to be employed as an EMT member, they shall 55 cease to be such a participant and, during any period in which such 56 person is not so employed, they shall not be a participant in the twen-
S. 9669--A 3 1 ty-two and one-half year retirement program and shall not be eligible 2 for the benefits of subdivision c of this section. 3 5. Where any participant in the twenty-two and one-half year retire- 4 ment program terminates service as an EMT member and returns to such 5 service as an EMT member at a later date, they shall again become such a 6 participant on that date. 7 6. Notwithstanding any other provision of law to the contrary, any 8 person who is eligible to become a participant in the twenty-two and 9 one-half year retirement program pursuant to paragraph one or two of 10 this subdivision for the full one hundred eighty day period provided for 11 in such applicable paragraph and who fails to timely file a duly 12 executed application for such participation with the retirement system, 13 shall not thereafter be eligible to become a participant in such 14 program. 15 c. Service retirement benefits. 1. A participant in the twenty-two and 16 one-half year retirement program: 17 (i) who has completed twenty-two and one-half or more years of credit- 18 able city service; and 19 (ii) who files with the retirement system an application for service 20 retirement setting forth at what time, not less than thirty days subse- 21 quent to the execution and filing thereof, such participant desires to 22 be retired; and 23 (iii) who shall be a participant in the twenty-two and one-half year 24 retirement program at the time so specified for such participant's 25 retirement; shall be retired pursuant to the provisions of this section 26 affording early service retirement. 27 2. Notwithstanding any other provision of law to the contrary, the 28 early service retirement benefit for a participant in the twenty-two and 29 one-half year retirement program who retires pursuant to paragraph one 30 of this subdivision shall be a retirement allowance consisting of: 31 (i) an amount, on account of the required minimum period of service, 32 equal to the sums of (A) an annuity which shall be the actuarial equiv- 33 alent of the accumulated deductions from such participant's pay during 34 such period, (B) a pension for increased-take-home-pay which shall be 35 the actuarial equivalent of the reserve-for-increased-take-home-pay to 36 which such participant may be entitled for such period, and (C) a 37 pension which, when added to such annuity and such pension for 38 increased-take-home-pay, produces a retirement allowance equal to 39 fifty-five percent of the salary earned or earnable in the year prior to 40 their retirement; plus 41 (ii) an amount for each additional year of creditable city service, or 42 fraction thereof, beyond such required minimum period of service equal 43 to one and seven-tenths percent of the final average salary for such 44 creditable service during the period from the completion of twenty-two 45 and one-half years of creditable city service to the date of retirement. 46 d. Vesting. 1. A participant in the twenty-two and one-half year 47 retirement program who: 48 (i) discontinues service as an EMT member, other than by death or 49 retirement; and 50 (ii) prior to such discontinuance, completed five but less than twen- 51 ty-two years of creditable city service; and 52 (iii) does not withdraw in whole or in part such participant's accumu- 53 lated member contributions pursuant to section 13-141 of this chapter, 54 shall be entitled to receive a deferred vested benefit as provided in 55 this subdivision.
S. 9669--A 4 1 2. (i) Upon such discontinuance under the conditions and in compliance 2 with the provisions of paragraph one of this subdivision, such deferred 3 vested benefit shall vest automatically. 4 (ii) Such vested benefit shall become payable on the earliest date on 5 which such discontinued member could have retired for service if such 6 discontinuance had not occurred. 7 3. Such deferred vested benefit shall be a retirement allowance 8 consisting of an amount equal to two and two-tenths percent of such 9 discontinued member's salary earned or earnable in the year prior to 10 such member's discontinuance, multiplied by the number of years of cred- 11 itable city service. 12 e. Member contributions. 1. All EMT members of the twenty-two and 13 one-half year retirement program shall be required to make member 14 contributions and additional member contributions in accordance with and 15 subject to the same rights, privileges, obligations and procedures as 16 govern the member contribution and additional member contributions 17 required by subdivision d of section four hundred forty-five-e of the 18 retirement and social security law. 19 2. For the purpose of applying under this subdivision, such subdivi- 20 sion d of section four hundred forty-five-e of the retirement and social 21 security law to an EMT member of the twenty-two and one-half year 22 retirement program who is subject to the provisions of this section, and 23 is not subject to the provisions of article eleven of the retirement and 24 social security law, the term "credited service", as used in such subdi- 25 vision, shall be deemed to mean creditable city service. 26 f. Cost-of-living adjustments. Notwithstanding any other provision of 27 law to the contrary, a person who retires with a retirement benefit 28 provided for in the twenty-two and one-half year retirement program 29 pursuant to the provisions of this section shall not be entitled to the 30 cost-of-living adjustments provided pursuant to section 13-696 of the 31 administrative code of the city of New York. 32 § 2. Subdivision a of section 444 of the retirement and social securi- 33 ty law, as amended by section 141 of subpart B of part C of chapter 62 34 of the laws of 2011, is amended to read as follows: 35 a. Except as provided in subdivision c of section four hundred forty- 36 five-a of this article, subdivision c of section four hundred forty- 37 five-b of this article, subdivision c of section four hundred forty- 38 five-c of this article, subdivision c of section four hundred 39 forty-five-d of this article as added by chapter four hundred seventy- 40 two of the laws of nineteen hundred ninety-five, subdivision c of 41 section four hundred forty-five-e of this article, subdivision c of 42 section four hundred forty-five-f of this article [and], subdivision c 43 of section four hundred forty-five-h of this article, and subdivision c 44 of section four hundred forty-five-j of this article, the maximum 45 retirement benefit computed without optional modification provided to a 46 member of a retirement system who is subject to the provisions of this 47 article, other than a police officer, a firefighter, an investigator 48 member of the New York city employees' retirement system, a member of 49 the uniformed personnel in institutions under the jurisdiction of the 50 New York city department of correction who receives a performance of 51 duty disability retirement allowance, a member of the uniformed person- 52 nel in institutions under the jurisdiction of the department of 53 corrections and community supervision or a security hospital treatment 54 assistant, as those terms are defined in subdivision i of section eight- 55 y-nine of this chapter, who receives a performance of duty disability 56 retirement allowance, a member of a teachers' retirement system, New
S. 9669--A 5 1 York city employees' retirement system, New York city board of education 2 retirement system or a member of the New York state and local employees' 3 retirement system or a member of the New York city employees' retirement 4 system or New York city board of education retirement system employed as 5 a special officer, parking control specialist, school safety agent, 6 campus peace officer, taxi and limousine inspector or a police communi- 7 cations member and who receives a performance of duty disability 8 pension, from funds other than those based on a member's own or 9 increased-take-home-pay contributions, shall, before any reduction for 10 early retirement, be sixty per centum of the first fifteen thousand 11 three hundred dollars of final average salary, and fifty per centum of 12 final average salary in excess of fifteen thousand three hundred 13 dollars, and forty per centum of final average salary in excess of twen- 14 ty-seven thousand three hundred dollars, provided, however, that the 15 benefits provided by subdivision c of section four hundred forty-five-d 16 of this article as added by chapter four hundred seventy-two of the laws 17 of nineteen hundred ninety-five based upon the additional member 18 contributions required by subdivision d of such section four hundred 19 forty-five-d shall be subject to the maximum retirement benefit computa- 20 tions set forth in this section. The maximum retirement benefit computed 21 without optional modification payable to a police officer, an investi- 22 gator member of the New York city employees' retirement system or a 23 firefighter shall equal that payable upon completion of thirty years of 24 service, except that the maximum service retirement benefit computed 25 without optional modification shall equal that payable upon completion 26 of thirty-two years of service. 27 § 3. Subdivision a of section 445 of the retirement and social securi- 28 ty law, as amended by chapter 714 of the laws of 2023, is amended to 29 read as follows: 30 a. No member of a retirement system who is subject to the provisions 31 of this article shall retire without regard to age, exclusive of retire- 32 ment for disability, unless [he or she] such member is a police officer, 33 an investigator member of the New York city employees' retirement 34 system, firefighter, correction officer, a qualifying member as defined 35 in section eighty-nine-t, as added by chapter six hundred fifty-seven of 36 the laws of nineteen hundred ninety-eight, of this chapter, sanitation 37 worker, a special officer (including persons employed by the city of New 38 York in the title urban park ranger or associate urban park ranger), 39 school safety agent, campus peace officer or a taxi and limousine 40 commission inspector member of the New York city employees' retirement 41 system or the New York city board of education retirement system, a 42 dispatcher member of the New York city employees' retirement system, a 43 police communications member of the New York city employees' retirement 44 system, an EMT member of the New York city employees' retirement system, 45 a deputy sheriff member of the New York city employees' retirement 46 system, a correction officer of the Westchester county correction 47 department as defined in section eighty-nine-e of this chapter or 48 employed in Suffolk county as a peace officer, as defined in section 49 eighty-nine-s, as added by chapter five hundred eighty-eight of the laws 50 of nineteen hundred ninety-seven, of this chapter, employed in Suffolk 51 county as a correction officer, as defined in section eighty-nine-f of 52 this chapter, or employed in Nassau county as a correction officer, 53 uniformed correction division personnel, sheriff, undersheriff or deputy 54 sheriff, as defined in section eighty-nine-g of this chapter, or 55 employed in Nassau county as an ambulance medical technician, an ambu- 56 lance medical technician/supervisor or a member who performs ambulance
S. 9669--A 6 1 medical technician related services, or a police medic, police medic 2 supervisor or a member who performs police medic related services, as 3 defined in section eighty-nine-s, as amended by chapter five hundred 4 seventy-eight of the laws of nineteen hundred ninety-eight, of this 5 chapter, or employed in Nassau county as a peace officer, as defined in 6 section eighty-nine-s, as added by chapter five hundred ninety-five of 7 the laws of nineteen hundred ninety-seven, of this chapter, or employed 8 in Albany county as a sheriff, undersheriff, deputy sheriff, correction 9 officer or identification officer, as defined in section eighty-nine-h 10 of this chapter or is employed in St. Lawrence county as a sheriff, 11 undersheriff, deputy sheriff or correction officer, as defined in 12 section eighty-nine-i of this chapter or is employed in Orleans county 13 as a sheriff, undersheriff, deputy sheriff or correction officer, as 14 defined in section eighty-nine-l of this chapter or is employed in 15 Jefferson county as a sheriff, undersheriff, deputy sheriff or 16 correction officer, as defined in section eighty-nine-j of this chapter 17 or is employed in Onondaga county as a deputy sheriff-jail division 18 competitively appointed or as a correction officer, as defined in 19 section eighty-nine-k of this chapter or is employed in a county which 20 makes an election under subdivision j of section eighty-nine-p of this 21 chapter as a sheriff, undersheriff, deputy sheriff or correction officer 22 as defined in such section eighty-nine-p or is employed in Broome County 23 as a sheriff, undersheriff, deputy sheriff or correction officer, as 24 defined in section eighty-nine-m of this chapter or is a Monroe county 25 deputy sheriff-court security, or deputy sheriff-jailor as defined in 26 section eighty-nine-n, as added by chapter five hundred ninety-seven of 27 the laws of nineteen hundred ninety-one, of this chapter or is employed 28 in Greene county as a sheriff, undersheriff, deputy sheriff or 29 correction officer, as defined in section eighty-nine-o of this chapter 30 or is a traffic officer with the town of Elmira as defined in section 31 eighty-nine-q of this chapter or is employed by Suffolk county as a park 32 police officer, as defined in section eighty-nine-r of this chapter or 33 is a peace officer employed by a county probation department as defined 34 in section eighty-nine-t, as added by chapter six hundred three of the 35 laws of nineteen hundred ninety-eight, of this chapter or is employed in 36 Rockland county as a deputy sheriff-civil as defined in section eighty- 37 nine-v of this chapter as added by chapter four hundred forty-one of the 38 laws of two thousand one, or is employed in Rockland county as a superi- 39 or correction officer as defined in section eighty-nine-v of this chap- 40 ter as added by chapter five hundred fifty-six of the laws of two thou- 41 sand one or is a paramedic employed by the police department in the town 42 of Tonawanda and retires under the provisions of section eighty-nine-v 43 of this chapter, as added by chapter four hundred seventy-two of the 44 laws of two thousand one, or is a county fire marshal, supervising fire 45 marshal, fire marshal, assistant fire marshal, assistant chief fire 46 marshal, chief fire marshal, division supervising fire marshal or fire 47 marshal trainee employed by the county of Nassau as defined in section 48 eighty-nine-w of this chapter or is employed in Monroe county as a depu- 49 ty sheriff-civil as defined in section eighty-nine-x of this chapter, 50 employed as an emergency medical technician, critical care technician, 51 advanced emergency medical technician, paramedic or supervisor of such 52 titles in a participating Suffolk county fire district as defined in 53 section eighty-nine-ss of this chapter, and is in a plan which permits 54 immediate retirement upon completion of a specified period of service 55 without regard to age. Except as provided in subdivision c of section 56 four hundred forty-five-a of this article, subdivision c of section four
S. 9669--A 7 1 hundred forty-five-b of this article, subdivision c of section four 2 hundred forty-five-c of this article, subdivision c of section four 3 hundred forty-five-d of this article, subdivision c of section four 4 hundred forty-five-e of this article, subdivision c of section four 5 hundred forty-five-f of this article [and], subdivision c of section 6 four hundred forty-five-h of this article, and subdivision c of section 7 four hundred forty-five-j of this article, a member in such a plan and 8 such an occupation, other than a police officer or investigator member 9 of the New York city employees' retirement system or a firefighter, 10 shall not be permitted to retire prior to the completion of twenty-five 11 years of credited service; provided, however, if such a member in such 12 an occupation is in a plan which permits retirement upon completion of 13 twenty years of service regardless of age, [he or she] such member may 14 retire upon completion of twenty years of credited service and prior to 15 the completion of twenty-five years of service, but in such event the 16 benefit provided from funds other than those based on such a member's 17 own contributions shall not exceed two per centum of final average sala- 18 ry per each year of credited service. 19 § 4. The retirement and social security law is amended by adding a new 20 section 445-j to read as follows: 21 § 445-j. Optional twenty-two and one-half year improved benefit 22 retirement program for EMT members. a. Definitions. The following words 23 and phrases as used in this section shall have the following meanings 24 unless a different meaning is plainly required by the context. 25 1. "Retirement system" shall mean the New York city employees' retire- 26 ment system. 27 2. "EMT member" shall mean a member of the retirement system who is 28 subject to the provisions of this article, who is employed by the city 29 of New York or by the New York city health and hospitals corporation in 30 a title whose duties are those of an emergency medical technician or 31 advanced emergency medical technician, as those terms are defined in 32 section three thousand one of the public health law, or in a title whose 33 duties require the supervision of employees whose duties are those of an 34 emergency medical technician or advanced emergency medical technician, 35 as those terms are defined in section three thousand one of the public 36 health law. 37 3. "Twenty-two and one-half year improved benefit retirement program" 38 shall mean all the terms and conditions of this section. 39 4. "Starting date of the twenty-two and one-half year improved benefit 40 retirement program" shall mean the effective date of this section. 41 5. "Participant in the twenty-two and one-half year improved benefit 42 retirement program" shall mean any EMT member who, under the applicable 43 provisions of subdivision b of this section, is entitled to the rights, 44 benefits and privileges and is subject to the obligations of the twen- 45 ty-two and one-half year improved benefit retirement program, as appli- 46 cable to such member. 47 6. "Administrative code" shall mean the administrative code of the 48 city of New York. 49 7. "Accumulated deductions" shall mean accumulated deductions as 50 defined in subdivision eleven of section 13-101 of the administrative 51 code. 52 8. "Optional retirement provisions" shall mean the right to retire and 53 receive a retirement allowance under this section upon the completion of 54 twenty-two and one-half years of creditable service as an EMT member. 55 9. "Creditable service as an EMT member" shall mean (i) all service as 56 an EMT member; and (ii) all service while employed by the city of New
S. 9669--A 8 1 York or by the New York city health and hospitals corporation in the 2 title motor vehicle operator. 3 b. Election of twenty-two and one-half year improved benefit retire- 4 ment program. 1. Subject to the provisions of paragraphs five and six 5 of this subdivision, any person who is an EMT member on the starting 6 date of the twenty-two and one-half year improved benefit retirement 7 program may elect to become a participant in the twenty-two and one-half 8 year improved benefit retirement program by filing, within one hundred 9 eighty days after such starting date, a duly executed application for 10 such participation with the retirement system, provided such person is 11 such an EMT member on the date such application is filed. 12 2. Subject to the provision of paragraphs five and six of this subdi- 13 vision, any person who becomes an EMT member after the starting date of 14 the twenty-two and one-half year improved benefit retirement program may 15 elect to become a participant in the twenty-two and one-half year 16 improved benefit retirement program by filing, within one hundred eighty 17 days after becoming such an EMT member, a duly executed application for 18 such participation with the retirement system, provided such person is 19 such an EMT member on the date such application is filed. 20 3. Any election to be a participant in the twenty-two and one-half 21 year improved benefit retirement program shall be irrevocable. 22 4. Where any participant in the twenty-two and one-half year improved 23 benefit retirement program shall cease to hold a position as an EMT 24 member, they shall cease to be such a participant and, during any period 25 in which such a person does not hold such an EMT position, they shall 26 not be a participant in the twenty-two and one-half year improved bene- 27 fit retirement program and shall not be eligible for the benefits of 28 subdivision c of this section. 29 5. Where any participant in the twenty-two and one-half year improved 30 benefit retirement program terminates service as an EMT member and 31 returns to such service as an EMT member at a later date, they shall 32 again become such a participant on that date. 33 6. Notwithstanding any other provision of law to the contrary, any 34 person who is eligible to become a participant in the twenty-two and 35 one-half year improved benefit retirement program pursuant to paragraph 36 one or two of this subdivision for the full one hundred eighty day peri- 37 od provided for in such applicable paragraph and who fails to timely 38 file a duly executed application for such participation with the retire- 39 ment system, shall not thereafter be eligible to become a participant in 40 such program. 41 c. Service retirement benefits. Notwithstanding any other provision of 42 law to the contrary, where a participant in the twenty-two and one-half 43 year improved benefit retirement program, who is otherwise qualified for 44 a retirement allowance pursuant to the optional retirement provision set 45 forth in subdivision a of this section, has made and/or paid, while such 46 participant is an EMT member, all additional member contributions and 47 interest, if any, required by subdivision d of this section, then: 48 1. that participant, while they remain a participant, shall not be 49 subject to the provisions of subdivision a of section four hundred 50 forty-five of this article; and 51 2. if that participant, while such a participant, retires from 52 service, they shall not be subject to the provisions of section four 53 hundred forty-four of this article; and 54 3. their retirement allowance shall be an amount, on account of this 55 required minimum period of service, equal to the sum of (i) an annuity 56 which shall be the actuarial equivalent of the accumulated deductions
S. 9669--A 9 1 from their pay during such period, (ii) a pension for increased-take- 2 home-pay which shall be the actuarial equivalent of the reserve for 3 increased-take-home-pay to which such participant may be entitled, for 4 such period, and (iii) a pension which, when added to such annuity and 5 such pension for increased-take-home-pay, produces a retirement allow- 6 ance equal to fifty percent of such participant's final average salary, 7 plus an amount for each additional year of creditable service as an EMT 8 member, or fraction thereof, beyond such required minimum period of 9 service equal to two percent of their final average salary for such 10 creditable service as an EMT member during the period from completion of 11 twenty-two and one-half or more years of creditable service as an EMT 12 member to the date of retirement but not to exceed more than five years 13 of additional service as an EMT member. 14 d. Additional member contributions. 1. In addition to the member 15 contributions required pursuant to section 13-125 or section 13-162 of 16 the administrative code, each participant in the twenty-two and one-half 17 year improved benefit retirement program shall contribute, subject to 18 the applicable provisions of section 13-125.2 of the administrative 19 code, an additional six and one-half percent of their compensation 20 earned from all credited service, as a participant in the twenty-two and 21 one-half year improved benefit retirement program, rendered on and after 22 the starting date of the improved benefit retirement program, and all 23 creditable service as an EMT member after such person ceases to be a 24 participant, but before they again become a participant pursuant to 25 paragraph five of subdivision b of this section. A participant in the 26 twenty-two and one-half year improved benefit retirement program shall 27 contribute additional member contributions until the later of the date 28 as of which such participant is eligible to retire with at least twen- 29 ty-two and one-half or more years of creditable service as an EMT member 30 under such retirement program, or the first anniversary of the starting 31 date of the twenty-two and one-half year improved benefit retirement 32 program. The additional contributions required by this section shall be 33 in lieu of additional member contributions required by section four 34 hundred forty-five-d of this article, as added by chapter ninety-six of 35 the laws of nineteen hundred ninety-five, and shall be in lieu of addi- 36 tional member contributions required by section four hundred 37 forty-five-e of this article, as added by chapter five hundred seventy- 38 seven of the laws of two thousand, and no member paying additional 39 contributions pursuant to this section shall be required to pay addi- 40 tional contributions pursuant to such subdivision d of section four 41 hundred forty-five-d of this article or pursuant to such subdivision d 42 of section four hundred forty-five-e of this article. 43 2. Commencing with the first full payroll period after each person 44 becomes a participant in the twenty-two and one-half year improved bene- 45 fit retirement program, additional member contributions at the rate 46 specified in paragraph one of this subdivision shall be deducted, 47 subject to the applicable provisions of section 13-125.2 of the adminis- 48 trative code, from the compensation of such participant on each and 49 every payroll of such participant for each and every payroll period for 50 which they are such a participant. 51 3. (i) Subject to the provisions of subparagraph (ii) of this para- 52 graph, where any additional member contributions required by paragraph 53 one of this subdivision are not paid by deductions from a participant's 54 compensation pursuant to paragraph two of this subdivision:
S. 9669--A 10 1 (A) that participant shall be charged with a contribution deficiency 2 consisting of such unpaid amounts, together with interest thereon, 3 compounded annually; and 4 (B) such interest on each amount of undeducted contributions shall 5 accrue from the end of the payroll period for which such amount would 6 have been deducted from compensation if such participant had been a 7 participant at the beginning of that payroll period and such deductions 8 had been required for such payroll period until such amount is paid to 9 the retirement system; and 10 (C) (1) interest on each such amount included in such participant's 11 contribution deficiency pursuant to this subparagraph shall be calcu- 12 lated as if such additional member contributions never had been paid by 13 such participant, and such interest shall accrue from the end of the 14 payroll period to which an amount of such additional member contribution 15 is attributable, compounded annually, until such amount is paid to the 16 retirement system; 17 (2) the rate of interest to be applied to each such amount during the 18 period for which interest accrues on that amount shall be equal to the 19 rate or rates of interest required by law to be used during that same 20 period to credit interest on the accumulated deductions of retirement 21 system members. 22 (ii) Except as provided in subparagraph (iii) of this paragraph, no 23 interest shall be due on any unpaid additional contributions which are 24 not attributable to the period prior to the first full payroll period 25 referred to in paragraph two of this subdivision. 26 (iii) Should any person who, pursuant to paragraph seven of this 27 subdivision, has withdrawn any additional member contributions and any 28 interest paid thereon, again become a participant in the twenty-two and 29 one-half year improved benefit retirement program pursuant to paragraph 30 five of subdivision b of this section, an appropriate amount shall be 31 included in such participant's contribution deficiency, including inter- 32 est thereon as calculated pursuant to subparagraph (ii) of this para- 33 graph, for any credited service with respect to which such person 34 received a refund of additional member contributions, including any 35 amount of an unpaid loan balance deemed to have been returned to such 36 person pursuant to paragraph seven of this subdivision, as if such addi- 37 tional member contributions never had been paid. 38 4. The board of trustees of the retirement system may, consistent with 39 the provisions of this subdivision, promulgate regulations for the 40 payment of the additional member contributions required by this subdivi- 41 sion, and any interest thereon, by a participant in the twenty-two and 42 one-half year improved benefit retirement program, including the 43 deduction of such contributions, and any interest thereon, from such 44 participant's compensation. 45 5. Where a participant who is otherwise eligible for service retire- 46 ment pursuant to subdivision c of this section did not, prior to the 47 effective date of retirement, pay the entire amount of a contribution 48 deficiency chargeable to such participant pursuant to paragraph three of 49 this subdivision, or repay the entire amount of a loan of such partic- 50 ipant's additional member contributions pursuant to paragraph eight of 51 this subdivision, including accrued interest on such loan, that partic- 52 ipant, nevertheless, shall be eligible to retire pursuant to subdivision 53 c of this section, provided, however, that where such participant is not 54 entitled to a refund of additional member contributions pursuant to 55 paragraph seven of this subdivision, such participant's service retire- 56 ment benefit calculated pursuant to the applicable provisions of subdi-
S. 9669--A 11 1 vision c of this section shall be reduced by a life annuity, calculated 2 in accordance with the method set forth in subdivision i of section six 3 hundred thirteen-b of this chapter, which is actuarially equivalent to: 4 (i) the amount of any unpaid contribution deficiency chargeable to 5 such member pursuant to paragraph three of this subdivision; plus 6 (ii) the amount of any unpaid balance of a loan of their additional 7 member contributions pursuant to paragraph eight of this subdivision, 8 including accrued interest on such loan. 9 6. Subject to the provisions of paragraph five of this subdivision, 10 where a participant has not paid in full any contribution deficiency 11 chargeable to such participant pursuant to paragraph three of this 12 subdivision, and a benefit, other than a refund of a member's accumu- 13 lated deductions or a refund of additional member contributions pursuant 14 to paragraph seven of this subdivision, becomes payable by the retire- 15 ment system to the participant or to their designated beneficiary or 16 estate, the actuarial equivalent of any such unpaid amount shall be 17 deducted from the benefit otherwise payable. 18 7. (i) All additional member contributions required by this subdivi- 19 sion, and any interest thereon, which are received by the retirement 20 system shall be paid into its contingent reserve fund and shall be the 21 property of the retirement system. Such additional member contributions, 22 and any interest thereon, shall not for any purpose be deemed to be 23 member contributions or accumulated deductions of a member of the 24 retirement system under section 13-125 or section 13-162 of the adminis- 25 trative code while they are a participant in the twenty-two and one-half 26 year improved benefit retirement program or otherwise. 27 (ii) Should a participant in the twenty-two and one-half year improved 28 benefit retirement program, who has rendered less than fifteen years of 29 credited service cease to hold a position as an EMT member for any 30 reason whatsoever, such participant's accumulated additional member 31 contributions made pursuant to this subdivision, together with any 32 interest thereon paid to the retirement system, which remain credited to 33 such participant's account may be withdrawn by such participant pursuant 34 to procedures promulgated in regulations of the board of trustees of the 35 retirement system, together with interest thereon at the rate of inter- 36 est required by law to be used to credit interest on the accumulated 37 deductions of retirement system members compounded annually. 38 (iii) Notwithstanding any other provision of law to the contrary, (A) 39 no person shall be permitted to withdraw from the retirement system any 40 additional member contributions paid pursuant to this subdivision or any 41 interest paid thereon, except pursuant to and in accordance with the 42 preceding subparagraphs of this paragraph; and (B) no person, while they 43 are a participant in the twenty-two and one-half year improved benefit 44 retirement program, shall be permitted to withdraw any such additional 45 member contributions or any interest paid thereon pursuant to any of the 46 preceding subparagraphs of this paragraph or otherwise. 47 8. A participant in the twenty-two and one-half year improved benefit 48 retirement program shall be permitted to borrow from their additional 49 member contributions, including any interest paid thereon, which are 50 credited to the additional contributions account established for such 51 participant in the contingent reserve fund of the retirement system. The 52 borrowing from such additional member contributions pursuant to this 53 paragraph shall be governed by the same rights, privileges, obligations 54 and procedures set forth in section six hundred thirteen-b of this chap- 55 ter which govern the borrowing by members subject to article fifteen of 56 this chapter of member contributions made pursuant to section six
S. 9669--A 12 1 hundred thirteen of this chapter. The board of trustees of the retire- 2 ment system may, consistent with the provisions of this subdivision, 3 promulgate regulations governing the borrowing of such additional member 4 contributions. 5 9. Wherever a person has an unpaid balance of a loan of such person's 6 additional member contributions pursuant to paragraph eight of this 7 subdivision at the time such person becomes entitled to a refund of 8 their additional member contributions pursuant to subparagraph (ii) of 9 paragraph seven of this subdivision, the amount of such unpaid loan 10 balance, including accrued interest, shall be deemed to have been 11 returned to such member, and the refund of such additional contributions 12 shall be the net amount of such contributions, together with interest 13 thereon in accordance with the provisions of such subparagraph. 14 10. Notwithstanding any other provision of law to the contrary, the 15 provisions of section one hundred thirty-eight-b of this chapter shall 16 not be applicable to the additional member contributions which are 17 required by this subdivision. 18 11. Notwithstanding any other provision of law to the contrary, the 19 additional member contributions which are required by this subdivision 20 shall not be reduced under any program for increased-take-home-pay. 21 e. The provisions of this section shall not be construed to provide 22 benefits to any participant in the twenty-two and one-half year improved 23 benefit retirement program which are greater than those which would be 24 received by a similarly situated member who is entitled to benefits 25 under the provisions of section 13-157.5 of the administrative code, but 26 who is not governed by the provisions of this article. 27 f. Cost-of-living adjustments. Notwithstanding any other provision of 28 law to the contrary, a person who retires with a retirement benefit 29 provided for in the twenty-two and one-half year retirement program 30 pursuant to the provisions of this section shall not be entitled to the 31 cost-of-living adjustments provided pursuant to section 13-696 of the 32 administrative code of the city of New York. 33 § 5. Paragraph 3 of subdivision b of section 604-e of the retirement 34 and social security law, as added by chapter 577 of the laws of 2000, is 35 amended to read as follows: 36 3. Each EMT member, other than an EMT member subject to paragraph one 37 or two of this subdivision, who [becomes] became subject to the 38 provisions of this article on or after the starting date of the twenty- 39 five year retirement program and prior to the starting date of the twen- 40 ty-two and one-half year retirement program provided for in section six 41 hundred four-k of this article shall [become] continue to be a partic- 42 ipant in the twenty-five year retirement program [on the date he or she 43 becomes such an EMT member], unless such person elects to become a 44 member of the twenty-two and one-half year retirement program in accord- 45 ance with the conditions and terms of such section six hundred four-k. 46 Provided, however, a person subject to this paragraph, and who has 47 exceeded age twenty-five upon employment as an EMT member, shall be 48 exempt from participation in the improved twenty-five year retirement 49 program if such person elects not to participate by filing a duly 50 executed form with the retirement system within one hundred eighty days 51 of becoming an EMT member. 52 § 6. The retirement and social security law is amended by adding a new 53 section 604-k to read as follows: 54 § 604-k. Twenty-two and one-half year retirement program for EMT 55 members. a. Definitions. The following words and phrases as used in this
S. 9669--A 13 1 section shall have the following meanings unless a different meaning is 2 plainly required by the context. 3 1. "EMT member" shall mean a member of the New York city employees' 4 retirement system who is employed by the city of New York or by the New 5 York city health and hospitals corporation in a title whose duties are 6 those of an emergency medical technician or an advanced emergency 7 medical technician, as those terms are defined in section three thousand 8 one of the public health law, or in a title whose duties require the 9 supervision of employees whose duties are those of an emergency medical 10 technician or advanced emergency medical technician, as those terms are 11 defined in section three thousand one of the public health law. 12 2. "Twenty-two and one-half year retirement program" shall mean all 13 the terms and conditions of this section. 14 3. "Starting date of the twenty-two and one-half year retirement 15 program" shall mean the effective date of this section. 16 4. "Participant in the twenty-two and one-half year retirement 17 program" shall mean any EMT member who, under the applicable provisions 18 of subdivision b of this section, is entitled to the rights, benefits 19 and privileges and is subject to the obligations of the twenty-two and 20 one-half year retirement program, as applicable to such member. 21 5. "Discontinued member" shall mean a participant in the twenty-two 22 and one-half year retirement program who, while such participant was an 23 EMT member, discontinued service as such a member and has a right to a 24 deferred vested benefit under subdivision d of this section. 25 6. "Administrative code" shall mean the administrative code of the 26 city of New York. 27 7. "Creditable service as an EMT member" shall mean (i) all service as 28 an EMT member; and (ii) all service while employed by the city of New 29 York or by the New York city health and hospitals corporation in the 30 title motor vehicle operator. 31 b. Participation in the twenty-two and one-half year retirement 32 program. 1. Subject to the provisions of paragraphs six and seven of 33 this subdivision, any person who is an EMT member on the starting date 34 of the twenty-two and one-half year retirement program and who, as such 35 an EMT member or otherwise, last became subject to the provisions of 36 this article prior to such starting date, may elect to become a partic- 37 ipant in the twenty-two and one-half year retirement program by filing, 38 within one hundred eighty days after such starting date, a duly executed 39 application for such participation with the retirement system of which 40 such person is a member, provided such person is such an EMT member on 41 the date such application is filed. An EMT member who elects to become a 42 member of the twenty-two and one-half year retirement program pursuant 43 to this paragraph shall cease to be a member of the twenty-five year 44 retirement program provided for in section six hundred four-e of this 45 article, as added by chapter five hundred seventy-seven of the laws of 46 two thousand. 47 2. Subject to the provisions of paragraphs six and seven of this 48 subdivision, any person who becomes an EMT member after the starting 49 date of the twenty-two and one-half year retirement program and who, as 50 such an EMT member or otherwise, last became subject to the provisions 51 of this article prior to such starting date, may elect to become a 52 participant in the twenty-two and one-half year retirement program by 53 filing, within one hundred eighty days after becoming such an EMT 54 member, a duly executed application for such participation with the 55 retirement system for which such person is a member, provided such 56 person is such an EMT member on the date such application is filed. An
S. 9669--A 14 1 EMT member who elects to become a member of the twenty-two and one-half 2 year retirement program pursuant to this paragraph shall cease to be a 3 member of the twenty-five year retirement program provided for in 4 section six hundred four-e of this article, as added by chapter five 5 hundred seventy-seven of the laws of two thousand. 6 3. Any election to be a participant in the twenty-two and one-half 7 year retirement program shall be irrevocable. 8 4. Each EMT member who becomes subject to the provisions of this arti- 9 cle on or after the starting date of the twenty-two and one-half year 10 retirement program shall become a participant in the twenty-two and 11 one-half year retirement program on the date such participant becomes an 12 EMT member. 13 5. Where any participant in the twenty-two and one-half year retire- 14 ment program shall cease to hold a position as an EMT member, they shall 15 cease to be such a participant and, during any period in which such 16 person does not hold such an EMT position, they shall not be a partic- 17 ipant in the twenty-two and one-half year retirement program and shall 18 not be eligible for the benefits of subdivision c of this section. 19 6. Where any participant in the twenty-two and one-half year retire- 20 ment program terminates service as an EMT member and returns to such 21 service as an EMT member at a later date, they shall again become such a 22 participant on that date. 23 7. Notwithstanding any other provision of the law to the contrary, any 24 person who is eligible to elect to become a participant in the twenty- 25 two and one-half year retirement program pursuant to paragraph one or 26 two of this subdivision for the full one hundred eighty day period 27 provided for in such applicable paragraph and who fails to timely file a 28 duly executed application for such participation with the retirement 29 system, shall not thereafter be eligible to become a participant in such 30 program. 31 c. Service retirement benefits. 1. A participant in the twenty-two and 32 one-half year retirement program: 33 (i) who has completed twenty-two and one-half or more years of credit- 34 able service as an EMT member; and 35 (ii) who has paid, before the effective date of retirement, all addi- 36 tional member contributions and interest, if any, required by subdivi- 37 sion e of this section; and 38 (iii) who files with the retirement system of which such participant 39 is a member an application for service retirement setting forth at what 40 time, not less than thirty days subsequent to the execution and filing 41 thereof, such participant desires to be retired; and 42 (iv) who shall be a participant in the twenty-two and one-year year 43 retirement program at the time so specified for such participant's 44 retirement; shall be retired pursuant to the provisions of this section 45 affording early service retirement. 46 2. Notwithstanding any other provision of law to the contrary, and 47 subject to the provisions of paragraph six of subdivision e of this 48 section, the service retirement benefit for participants in the twenty- 49 two and one-half year retirement program who retire pursuant to para- 50 graph one of this subdivision shall be a retirement allowance consisting 51 of: 52 (i) an amount, on account of the required minimum period of service, 53 equal to fifty percent of such participant's final average salary; plus 54 (ii) an amount on account of creditable service as an EMT member, or 55 fraction thereof, beyond such required minimum period of service equal 56 to two percent of their final salary as an EMT member during the period
S. 9669--A 15 1 from the completion of twenty-two and one-half years of creditable 2 service as an EMT member to the date of retirement but not to exceed 3 more than five years of additional service as an EMT member. 4 d. Vesting. 1. A participant in the twenty-two and one-half year 5 retirement program: 6 (i) who discontinues service as such a participant, other than by 7 death or retirement; and 8 (ii) who prior to such discontinuance, completed five but less than 9 twenty-two and one-half years of creditable service as an EMT member; 10 and 11 (iii) who, subject to the provisions of paragraph seven of subdivision 12 e of this section, has paid, prior to such discontinuance, all addi- 13 tional member contributions and interest, if any, required by subdivi- 14 sion e of this section; and 15 (iv) who does not withdraw in whole or in part their accumulated 16 member contributions pursuant to section six hundred thirteen of this 17 article unless such participant thereafter returns to public service and 18 repays the amounts so withdrawn, together with interest, pursuant to 19 such section six hundred thirteen shall be entitled to receive a 20 deferred vested benefit as provided in this subdivision. 21 2. (i) Upon such discontinuance under the conditions and in compliance 22 with the provisions of paragraph one of this subdivision, such deferred 23 vested benefit shall vest automatically. 24 (ii) In the case of a participant who is not a New York city revised 25 plan member, such vested benefit shall become payable on the earliest 26 date on which such discontinued member could have retired for service if 27 such discontinuance had not occurred, or, in the case of a participant 28 who is a New York city revised plan member, such vested benefit shall 29 become payable at age sixty-three. 30 3. Subject to the provisions of paragraph seven of subdivision e of 31 this section, such deferred vested benefit shall be a retirement allow- 32 ance consisting of an amount equal to two percent of such discontinued 33 member's final average salary, multiplied by the number of years of 34 creditable service as an EMT member. 35 e. Additional member contributions. 1. In addition to the member 36 contributions required by section six hundred thirteen of this article, 37 each participant in the twenty-two and one-half year retirement program 38 shall contribute to the retirement system of which they are a member, 39 subject to the applicable provisions of subdivision d of section six 40 hundred thirteen of this article, an additional six and one-half percent 41 of such participant's compensation earned from (i) all creditable 42 service, as a participant in the twenty-two and one-half year retirement 43 program, rendered on or after the starting date of the twenty-two and 44 one-half year retirement program, and (ii) all creditable service after 45 such person ceases to be a participant, but before such person again 46 becomes a participant pursuant to paragraph six of subdivision b of this 47 section. The additional contributions required by this section shall be 48 in lieu of additional member contributions required by subdivision d of 49 section six hundred four-c of this chapter as added by chapter ninety- 50 six of the laws of nineteen hundred ninety-five, and shall be in lieu of 51 additional member contributions required by subdivision e of section six 52 hundred four-e of this chapter as added by chapter five hundred seven- 53 ty-seven of the laws of two thousand, and no member making additional 54 contributions pursuant to this section shall be required to make 55 contributions pursuant to such subdivision d of section six hundred
S. 9669--A 16 1 four-c of this article or such subdivision e of section six hundred 2 four-e of this article. 3 2. A participant in the twenty-two and one-half year retirement 4 program shall contribute additional member contributions until the later 5 of (i) the first anniversary of the starting date of the twenty-two and 6 one-half year retirement program, or (ii) the date on which such partic- 7 ipant completes twenty-seven and one-half years of credited service as 8 an EMT member. 9 3. Commencing with the first full payroll period after each person 10 becomes a participant in the twenty-two and one-half year retirement 11 program, additional member contributions at the rate specified in para- 12 graph one of this subdivision shall be deducted, subject to the applica- 13 ble provisions of subdivision d of section six hundred thirteen of this 14 article, from the compensation of such participant on each and every 15 payroll of such participant for each and every payroll period for which 16 they are such a participant. 17 4. (i) Each participant in the twenty-two and one-half year retirement 18 program shall be charged with a contribution deficiency consisting of 19 the total amounts of additional member contributions such person is 20 required to make pursuant to paragraphs one and two of this subdivision 21 which are not deducted from such person's compensation pursuant to para- 22 graph three of this subdivision, if any, together with interest thereon, 23 compounded annually, and computed in accordance with the provisions of 24 subparagraphs (ii) and (iii) of this paragraph. 25 (ii)(A) The interest required to be paid on each such amount specified 26 in subparagraph (i) of this paragraph shall accrue from the end of the 27 payroll period for which such amount would have been deducted from 28 compensation if such person had been a participant at the beginning of 29 that payroll period and such deduction had been required for such 30 payroll period, until such amount is paid to the retirement system. 31 (B) The rate of interest to be applied to each such amount during the 32 period for which interest accrues on that amount shall be equal to the 33 rate or rates of interest required by law to be used during that same 34 period to credit interest on the accumulated deductions of retirement 35 system members. 36 (iii) Except as otherwise provided in paragraph five of this subdivi- 37 sion, no interest shall be due on any unpaid additional member contrib- 38 utions which are not attributable to a period prior to the first full 39 payroll period referred to in paragraph three of this subdivision. 40 5. (i) Should any person who, pursuant to subparagraph (ii) of para- 41 graph ten of this subdivision, has received a refund of their additional 42 member contributions including any interest paid on such contributions, 43 again become a participant in the twenty-two and one-half year retire- 44 ment program pursuant to paragraph six of subdivision b of this section, 45 an appropriate amount shall be included in such participant's contrib- 46 ution deficiency, including interest thereon as calculated pursuant to 47 subparagraph (ii) of this paragraph, for any credited service for which 48 such person received a refund of such additional member contributions, 49 including any amount of an unpaid loan balance deemed to have been 50 returned to such person pursuant to paragraph twelve of this subdivi- 51 sion, as if such additional member contributions never had been paid. 52 (ii) (A) Interest on a participant's additional member contributions 53 included in such participant's contribution deficiency pursuant to 54 subparagraph (i) of this paragraph shall be calculated as if such addi- 55 tional member contributions had never been paid by such participant, and 56 such interest shall accrue from the end of the payroll period to which
S. 9669--A 17 1 an amount of such additional member contributions is attributable, until 2 such amount is paid to the retirement system. 3 (B) The rate of interest to be applied to such amount during the peri- 4 od for which interest accrues on that amount shall be five percent per 5 annum, compounded annually. 6 6. Where a participant who is otherwise eligible for service retire- 7 ment pursuant to subdivision c of this section did not, prior to the 8 effective date of retirement, pay the entire amount of a contribution 9 deficiency chargeable to such participant pursuant to paragraphs four 10 and five of this subdivision, or repay the entire amount of a loan of 11 their additional member contributions pursuant to paragraph eleven of 12 this subdivision, including accrued interest on such loan, that partic- 13 ipant, nevertheless, shall be eligible to retire pursuant to subdivision 14 c of this section, provided, however, that such participant's service 15 retirement benefit calculated pursuant to paragraph two of such subdivi- 16 sion c shall be reduced by a life annuity, calculated in accordance with 17 the method set forth in subdivision i of section six hundred thirteen-b 18 of this article, which is actuarially equivalent to: 19 (i) the amount of any unpaid contribution deficiency chargeable to 20 such member pursuant to paragraphs four and five of this subdivision; 21 plus 22 (ii) the amount of any unpaid balance of a loan of such participant's 23 additional member contributions pursuant to paragraph eleven of this 24 subdivision, including accrued interest on such loan. 25 7. Where a participant who is otherwise eligible for a vested right to 26 a deferred benefit pursuant to subdivision d of this section did not, 27 prior to the date of discontinuance of service, pay the entire amount of 28 a contribution deficiency chargeable to such participant pursuant to 29 paragraphs four and five of this subdivision, or repay the entire amount 30 of a loan of their additional member contributions pursuant to paragraph 31 eleven of this subdivision, including accrued interest on such loan, 32 that participant, nevertheless, shall have a vested right to a deferred 33 benefit pursuant to subdivision d of this section provided, however, 34 that the deferred vested benefit calculated pursuant to paragraph three 35 of subdivision d of this section shall be reduced by a life annuity, 36 calculated in accordance with the method set forth in subdivision i of 37 section six hundred thirteen-b of this article, which is actuarially 38 equivalent to: 39 (i) the amount of any unpaid contribution chargeable to such member 40 pursuant to paragraphs four and five of this subdivision; plus 41 (ii) the amount of any unpaid balance of a loan of their additional 42 member contributions pursuant to paragraph eleven of this subdivision, 43 including accrued interest on such loan. 44 8. The head of a retirement system which includes participants in the 45 twenty-two and one-half year retirement program in its membership may, 46 consistent with the provisions of this subdivision, promulgate regu- 47 lations for the payment of such additional member contributions, and any 48 interest thereon, by such participants, including the deduction of such 49 contributions, and any interest thereon, from the participant's compen- 50 sation. 51 9. Subject to the provisions of paragraphs six and seven of this 52 subdivision, where a participant has not paid in full any contribution 53 deficiency chargeable to such participant pursuant to paragraphs four 54 and five of this subdivision, and a benefit, other than a refund of 55 member contributions pursuant to section six hundred thirteen of this 56 article or a refund of additional member contributions pursuant to
S. 9669--A 18 1 subparagraph (ii) of paragraph ten of this subdivision, becomes payable 2 under this article to the participant or to their designated beneficiary 3 or estate, the actuarial equivalent of any such unpaid amount shall be 4 deducted from the benefit otherwise payable. 5 10. (i) Such additional member contributions, and any interest there- 6 on, shall be paid into the contingent reserve fund of the retirement 7 system of which the participant is a member and shall not for any 8 purpose be deemed to be member contributions or accumulated contrib- 9 utions of a member under section six hundred thirteen of this article or 10 otherwise while they are a participant in the twenty-two and one-half 11 year retirement program or otherwise. 12 (ii) Should a participant in the twenty-two and one-half year retire- 13 ment program who has rendered less than fifteen years of credited 14 service cease to hold a position as an EMT member for any reason whatso- 15 ever, such participant's accumulated additional member contributions 16 made pursuant to this subdivision, together with any interest thereon 17 paid to the retirement system, may be withdrawn by such participant 18 pursuant to procedures promulgated in regulations of the board of trus- 19 tees of the retirement system, together with interest thereon at the 20 rate of five percent per annum, compounded annually. 21 (iii) Notwithstanding any other provision of law to the contrary, (A) 22 no person shall be permitted to withdraw from the retirement system any 23 additional member contributions paid pursuant to this subdivision or any 24 interest paid thereon, except pursuant to and in accordance with the 25 preceding subparagraphs of this paragraph; and (B) no person, while they 26 are a participant in the twenty-two and one-half year retirement 27 program, shall be permitted to withdraw any such additional member 28 contributions or any interest paid thereon pursuant to any of the 29 preceding subparagraphs of this paragraph or otherwise. 30 11. A participant in the twenty-two and one-half year retirement 31 program shall be permitted to borrow from their additional member 32 contributions, including any interest paid thereon, which are credited 33 to the additional contributions account established for such participant 34 in the contingent reserve fund of the retirement system. The borrowing 35 from such additional member contributions pursuant to this paragraph 36 shall be governed by the rights, privileges, obligations and procedures 37 set forth in section six hundred thirteen-b of this article which govern 38 the borrowing of member contributions made pursuant to section six 39 hundred thirteen of this article. The board of trustees of the retire- 40 ment system may, consistent with the provisions of this subdivision and 41 the provisions of section six hundred thirteen-b of this article as made 42 applicable to this subdivision, promulgate regulations governing the 43 borrowing of such additional member contributions. 44 12. Whenever a person has an unpaid balance of a loan or such person's 45 additional member contributions pursuant to paragraph eleven of this 46 subdivision at the time they become entitled to a refund of their addi- 47 tional member contributions pursuant to subparagraph (ii) of paragraph 48 ten of this subdivision, the amount of such unpaid loan balance, includ- 49 ing accrued interest shall be deemed to have been returned to such 50 member, and the refund of such additional contributions shall be the net 51 amount of such contribution, together with interest thereon in accord- 52 ance with the provisions of such subparagraph (ii). 53 f. Cost-of-living adjustments. Notwithstanding any other provision of 54 law to the contrary, a person who retires with a retirement benefit 55 provided for in the twenty-two and one-half year retirement program 56 pursuant to the provisions of this section shall not be entitled to the
S. 9669--A 19 1 cost-of-living adjustments provided pursuant to section 13-696 of the 2 administrative code of the city of New York. 3 § 7. Paragraph 7 of subdivision d of section 613 of the retirement and 4 social security law, as added by chapter 577 of the laws of 2000, is 5 amended to read as follows: 6 7. (i) The city of New York shall, in the case of an EMT member (as 7 defined in paragraph one of subdivision a of section six hundred four-e 8 of this article) who is a participant in the twenty-five year retirement 9 program (as defined in paragraph four of subdivision a of such section 10 six hundred four-e), and in the case of an EMT member (as defined in 11 paragraph one of subdivision a of section six hundred four-k of this 12 article) who is a participant in the twenty-two and one-half year 13 retirement program (as defined in paragraph four of subdivision a of 14 such section six hundred four-k), and who is not rendered ineligible for 15 such pick ups by another provision of law, pick up and pay to the 16 retirement system of which such participant is a member all additional 17 member contributions which otherwise would be required to be deducted 18 from such member's compensation pursuant to paragraphs one and two of 19 subdivision e of [such] section six hundred four-e of this article, or 20 pursuant to paragraphs one and two of subdivision e of section six 21 hundred four-k of this article, (not including any additional member 22 contributions due for any period prior to the first full payroll period 23 referred to in such paragraph three of such subdivision e), and shall 24 effect such pick up on each and every payroll of such participant for 25 each and every payroll period with respect to which such paragraph three 26 would otherwise require such deductions. 27 (ii) An amount equal to the amount of additional contributions picked 28 up pursuant to this paragraph shall be deducted by such employer from 29 the compensation of such member (as such compensation would be in the 30 absence of a pick up program applicable to [him or her] such member 31 hereunder) and shall not be paid to such member. 32 (iii) The additional member contributions picked up pursuant to this 33 paragraph for any such member shall be paid by such employer in lieu of 34 an equal amount of additional member contributions otherwise required to 35 be paid by such member under the applicable provisions of subdivision e 36 of section six hundred four-e of this article, and shall be deemed to be 37 and treated as employer contributions pursuant to section 414(h) of the 38 Internal Revenue Code. 39 (iv) For the purpose of determining the retirement system rights, 40 benefits and privileges of any member whose additional member contrib- 41 utions are picked up pursuant to this paragraph, such picked up addi- 42 tional member contributions shall be deemed to be and treated as part of 43 such member's additional member contributions under the applicable 44 provisions of subdivision e of section six hundred four-e and subdivi- 45 sion e of section six hundred four-k of this article. 46 (v) With the exception of federal income tax treatment, the additional 47 member contributions picked up pursuant to subparagraph (i) of this 48 paragraph shall for all other purposes, including computation of retire- 49 ment benefits and contributions by employers and employees, be deemed 50 employee salary. Nothing contained in this subdivision shall be 51 construed as superseding the provisions of section four hundred thirty- 52 one of this chapter, or any similar provision of law which limits the 53 salary base for computing retirement benefits payable by a public 54 retirement system.
S. 9669--A 20 1 § 8. Section 13-125.2 of the administrative code of the city of New 2 York is amended by adding two new subdivisions a-9 and a-10 to read as 3 follows: 4 a-9. Notwithstanding any other provision of law to the contrary, on or 5 after the starting date for pick up, the employer responsible for pick 6 up shall, in the case of an EMT member, as defined in paragraph one of 7 subdivision a of section 13-157.5 of this chapter, who is a participant 8 in the twenty-two and one-half year retirement program, as defined in 9 paragraph two of such subdivision a, pick up and pay to the retirement 10 system all additional member contributions which otherwise would be 11 required to be deducted from such member's compensation pursuant to 12 subdivision e of such section 13-157.5, and shall effect such pick up on 13 each and every payroll of such participant for each and every payroll 14 period with respect to which such subdivision e would otherwise require 15 such deductions. 16 a-10. Notwithstanding any other provision of law to the contrary, on 17 or after the starting date for pick up, the employer responsible for 18 pick up shall, in the case of an EMT member, as defined in paragraph two 19 of subdivision a of section four hundred forty-five-j of the retirement 20 and social security law, who is a participant in the twenty-two and 21 one-half year retirement program, as defined in paragraph three of such 22 subdivision a, pick up and pay to the retirement system all additional 23 member contributions which otherwise would be required to be deducted 24 from such member's compensation pursuant to subdivision d of such 25 section four hundred forty-five-j, and shall effect such pick up on each 26 and every payroll of such participant for each and every payroll period 27 with respect to which such subdivision d would otherwise require such 28 deductions. 29 § 9. Subparagraph (ii) of paragraph 1 of subdivision c of section 30 13-125.2 of the administrative code of the city of New York, as amended 31 by chapter 682 of the laws of 2003, is amended to read as follows: 32 (ii) the determination of the amount of such member's Tier I or Tier 33 II nonuniformed-force member contributions eligible for pick up by the 34 employer or additional member contributions required to be picked up 35 pursuant to subdivision a-one, subdivision a-two, subdivision a-three, 36 subdivision a-four, subdivision a-five, subdivision a-six, subdivision 37 a-seven [or], subdivision a-eight, subdivision a-nine, or subdivision 38 a-ten of this section; and 39 § 10. Subdivision d of section 13-125.2 of the administrative code of 40 the city of New York is amended by adding two new paragraphs 2-h and 2-i 41 to read as follows: 42 (2-h) For the purpose of determining the retirement system rights, 43 benefits and privileges of any member who is a participant in the twen- 44 ty-two and one-half year retirement program, as defined in paragraph two 45 of subdivision a of section 13-157.5 of this chapter, the additional 46 member contributions of such participant picked up pursuant to subdivi- 47 sion a-nine of this section shall be deemed to be and treated as a part 48 of such member's additional contributions under subdivision e of such 49 section 13-157.5. 50 (2-i) For the purpose of determining the retirement system rights, 51 benefits and privileges of any member who is a participant in the twen- 52 ty-two and one-half year retirement program, as defined in paragraph 53 three of subdivision a of section four hundred forty-five-j of the 54 retirement and social security law, the additional member contributions 55 of such participant picked up pursuant to subdivision a-ten of this 56 section shall be deemed to be and treated as a part of such member's
S. 9669--A 21 1 additional member contributions under subdivision d of section four 2 hundred forty-five-j of the retirement and social security law. 3 § 11. Paragraph 3 of subdivision d of section 13-125.2 of the adminis- 4 trative code of the city of New York, as amended by chapter 682 of the 5 laws of 2003, is amended to read as follows: 6 (3) Interest on contributions picked up for any Tier I or Tier II 7 non-uniformed-force member pursuant to this section (other than addi- 8 tional member contributions picked up pursuant to subdivision a-one, 9 subdivision a-two, subdivision a-three, subdivision a-four, subdivision 10 a-five, subdivision a-six, subdivision a-seven [or], subdivision 11 a-eight, subdivision a-nine, or subdivision a-ten of this section) shall 12 accrue in favor of the member and be payable to the retirement system at 13 the same rate, for the same time periods, in the same manner and under 14 the same circumstances as interest would be required to accrue in favor 15 of the member and be payable to the retirement system on such contrib- 16 utions if they were made by such member in the absence of a pick up 17 program applicable to such member under the provisions of this section. 18 § 12. Subdivision a of section 603 of the retirement and social secu- 19 rity law, as amended by section 3 of part EE of chapter 55 of the laws 20 of 2024, is amended to read as follows: 21 a. The service retirement benefit specified in section six hundred 22 four of this article shall be payable to members who have met the mini- 23 mum service requirements upon retirement and attainment of age sixty- 24 two, other than members who are eligible for early service retirement 25 pursuant to subdivision c of section six hundred four-b of this article, 26 subdivision c of section six hundred four-c of this article, subdivision 27 d of section six hundred four-d of this article, subdivision c of 28 section six hundred four-e of this article, subdivision c of section six 29 hundred four-f of this article, subdivision c of section six hundred 30 four-g of this article, subdivision c of section six hundred four-h of 31 this article subdivision c of section six hundred four-i of this arti- 32 cle, [or] subdivision c of section six hundred four-j of this article, 33 or subdivision c of section six hundred four-k of this article, 34 provided, however, a member of a teachers' retirement system or the New 35 York state and local employees' retirement system who first joins such 36 system before January first, two thousand ten or a member who is a 37 uniformed court officer or peace officer employed by the unified court 38 system who first becomes a member of the New York state and local 39 employees' retirement system before April first, two thousand twelve may 40 retire without reduction of their retirement benefit upon attainment of 41 at least fifty-five years of age and completion of thirty or more years 42 of service, provided, however, that a uniformed court officer or peace 43 officer employed by the unified court system who first becomes a member 44 of the New York state and local employees' retirement system on or after 45 January first, two thousand ten and retires without reduction of their 46 retirement benefit upon attainment of at least fifty-five years of age 47 and completion of thirty or more years of service pursuant to this 48 section shall be required to make the member contributions required by 49 subdivision f of section six hundred thirteen of this article for all 50 years of credited and creditable service, provided further that the 51 preceding provisions of this subdivision shall not apply to a New York 52 city revised plan member. 53 § 13. Subdivision d of section 613 of the retirement and social secu- 54 rity law is amended by adding a new paragraph 13 to read as follows: 55 13. (i) The city of New York shall, in the case of an EMT member, as 56 defined in paragraph one of subdivision a of section six hundred four-k
S. 9669--A 22 1 of this article, who is a participant in the twenty-two and one-half 2 year retirement program, as defined in paragraph four of subdivision a 3 of such section six hundred four-k, pick up and pay to the retirement 4 system of which such participant is a member all additional member 5 contributions which otherwise would be required to be deducted from such 6 member's compensation pursuant to paragraphs one and two of subdivision 7 e of such section six hundred four-k, not including any additional 8 member contributions due for any period prior to the first full payroll 9 period referred to in such paragraph three of such subdivision e, and 10 shall effect such pick up on each and every payroll of such participant 11 for each and every payroll period with respect to which such paragraph 12 three would otherwise require such deductions. 13 (ii) An amount equal to the amount of additional contributions picked 14 up pursuant to this paragraph shall be deducted by such employer from 15 the compensation of such member, as such compensation would be in the 16 absence of a pick up program applicable to such member hereunder, and 17 shall not be paid to such member. 18 (iii) The additional member contributions picked up pursuant to this 19 paragraph for any such member shall be paid by such employer in lieu of 20 an equal amount of additional member contributions otherwise required to 21 be paid by such member under the applicable provisions of subdivision e 22 of section six hundred four-k of this article, and shall be deemed to be 23 and treated as employer contributions pursuant to section 414(h) of the 24 Internal Revenue Code. 25 (iv) For the purpose of determining the retirement system rights, 26 benefits and privileges of any member whose additional member contrib- 27 utions are picked up pursuant to this paragraph, such picked up addi- 28 tional member contributions shall be deemed to be and treated as part of 29 such member's additional member contributions under the applicable 30 provisions of subdivision e of section six hundred four-k of this arti- 31 cle. 32 (v) With the exception of federal income tax treatment, the additional 33 member contributions picked up pursuant to subparagraph (i) of this 34 paragraph shall for all other purposes, including computation of retire- 35 ment benefits and contributions by employers and employees, be deemed 36 employee salary. Nothing contained in this subdivision shall be 37 construed as superseding the provisions of section four hundred thirty- 38 one of this chapter, or any similar provision of law which limits the 39 salary base for computing retirement benefits payable in New York by a 40 public retirement system. 41 § 14. Nothing contained in sections seven, twelve and twelve-a of this 42 act shall be construed to create any contractual right with respect to 43 members to whom such sections apply. The provisions of such sections are 44 intended to afford members the advantages of certain benefits contained 45 in the internal revenue code, and the effectiveness and existence of 46 such sections and benefits they confer are completely contingent there- 47 on. 48 § 15. This act shall take effect immediately, provided, however that: 49 (a) The provisions of sections seven, twelve and thirteen of this act 50 shall remain in force and effect only so long as, pursuant to federal 51 law, contributions picked up under such sections are not includable as 52 gross income of a member for federal income tax purposes until distrib- 53 uted or made available to the member; provided that the New York city 54 employees' retirement system shall notify the legislative bill drafting 55 commission upon the occurrence of such a change in federal law ruling 56 affecting the provisions of this act in order that the commission may
S. 9669--A 23 1 maintain an accurate and timely effective data base of the official text 2 of the laws of the state of New York in furtherance of effectuating the 3 provisions of section 44 of the legislative law and section 70-b of the 4 public officers law; 5 (b) The amendments to subdivision d of section 613 of the retirement 6 and social security law made by sections seven and thirteen of this act 7 shall not affect the expiration of such subdivision and shall expire 8 therewith; 9 (c) The amendments to section 13-125.2 of the administrative code of 10 the city of New York made by sections eight, nine, ten and eleven of 11 this act shall not affect the expiration of such section and shall be 12 deemed to expire therewith; and 13 (d) The amendments to subdivision a of section 603 of the retirement 14 and social security law made by section twelve of this act shall not 15 affect the expiration of such subdivision and shall be deemed to expire 16 therewith. FISCAL NOTE.--Pursuant to Legislative Law, Section 50: SUMMARY: This proposed legislation would establish 22.5-Year Retire- ment Programs for New York City Emergency Medical Technicians (EMT 22.5-Year Plans) for each tier. EXPECTED INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS by Fiscal Year for the first 25 years ($ in Millions) Year NYCERS 2025 26.3 2026 26.0 2027 25.9 2028 25.8 2029 25.6 2030 25.2 2031 24.8 2032 24.5 2033 24.1 2034 23.8 2035 23.3 2036 22.8 2037 6.7 2038 6.3 2039 6.0 2040 5.6 2041 5.2 2042 4.7 2043 4.1 2044 3.5 2045 3.0 2046 2.5 2047 2.1 2048 1.9 2049 1.8 Employer Contribution impact beyond Fiscal Year 2049 is not shown. Projected contributions include future new hires. The entire increase in employer contributions will be allocated to New York City.
S. 9669--A 24 INITIAL INCREASE (DECREASE) IN ACTUARIAL LIABILITIES as of June 30, 2023 ($ in Millions) Present Value (PV) NYCERS PV of Benefits: 159.9 PV of Employee Contributions: (43.2) PV of Employer Contributions: 203.1 Unfunded Accrued Liabilities: 120.2 AMORTIZATION OF UNFUNDED ACCRUED LIABILITY NYCERS Number of Payments: 12 Fiscal Year of Last Payment: 2036 Amortization Payment: 15.7 M Unfunded Accrued Liability increases were amortized over the expected remaining working lifetime of those impacted by the benefit changes using level dollar payments. CENSUS DATA: The estimates presented herein are based on preliminary census data collected as of June 30, 2023. The census data for the emer- gency medical technicians assumed to elect an EMT 22.5-Year Plan is summarized below. NYCERS Active Members - Number Count: 3,657 - Average Age: 35.6 - Average Service: 8.6 - Average Salary: 71,600 IMPACT ON MEMBER BENEFITS AND CONTRIBUTIONS: The proposed legislation would provide a service retirement benefit equal to o 50% of Final Average Salary (FAS) for the first 22.5 years of cred- itable service as an EMT member, o plus 2.0% of Final Salary for each additional year of creditable service as an EMT member exceeding 22.5 years to a maximum of 5 years. Once a member in the EMT 22.5-Year Plan attains 22.5 years of credita- ble service as an EMT member, he or she would no longer be eligible to retire under his or her respective basic plan. The vested benefit under the EMT 22.5-Year Plans is equal to 2.0% of FAS for each year of creditable service as an EMT member. The retirement benefits provided by the EMT 22.5-Year Plan would not be subject to cost-of-living adjustments (COLA). Plan participants would be required to pay Additional Member Contrib- utions (AMC) equal to 6.5% of compensation for all service on and after the starting date of the Plan until the later of the one-year anniver- sary of the effective date of the Plan or 27.5 years of credited service as an EMT member. ASSUMPTIONS AND METHODS: The estimates presented herein have been calculated based on the Revised 2021 Actuarial Assumptions and Methods of NYCERS. In addition: o The rates of retirement for the EMT 22.5-Year Plans were assigned based on the members' eligibility to elect or opt out of the plan. The EMT 22.5-Year Plan is optional for current emergency medical techni- cians. The EMT 22.5-Year Plan is mandatory for future emergency medical technicians.
S. 9669--A 25 o New entrants were assumed to replace exiting members so that total payroll for emergency medical technicians increases by 3% each year. New entrant demographics were developed based on data for recent new hires and actuarial judgement. Future members will be mandated into the EMT 22.5-Year plan. o For purposes of this Fiscal Note, creditable service as an EMT member was assumed to include non-EMT service, due to insufficient data. To determine the impact of the elective nature of the proposed legis- lation, a subgroup of EMT members was developed based on who is assumed to benefit actuarially by comparing the net present value of future employer costs of each member's benefit under their current plan and under the applicable EMT 22.5-Year Plan. RISK AND UNCERTAINTY: The costs presented in this Fiscal Note depend highly on the data, actuarial assumptions, methods, and models used, demographics of the impacted population, and other factors such as investment, contribution, and other risks. If actual experience deviates from actuarial assumptions, the actual costs could differ from those presented herein. Quantifying these risks is beyond the scope of this Fiscal Note. This Fiscal Note is intended to measure pension-related impacts and does not include other potential costs (e.g., administrative and Other Postemployment Benefits). This Fiscal Note does not reflect any chapter laws that may have been enacted during the current legislative session. STATEMENT OF ACTUARIAL OPINION: Marek Tyszkiewicz and Gregory Zelikov- sky are members of the Society of Actuaries and the American Academy of Actuaries. We are members of NYCERS but do not believe it impairs our objectivity and we meet the Qualification Standards of the American Academy of Actuaries to render the actuarial opinion contained herein. To the best of our knowledge, the results contained herein have been prepared in accordance with generally accepted actuarial principles and procedures and with the Actuarial Standards of Practice issued by the Actuarial Standards Board. FISCAL NOTE IDENTIFICATION: This Fiscal Note 2024-68 dated May 24, 2024 was prepared by the Chief Actuary for the New York City Retirement Systems and Pension Funds. This estimate is intended for use only during the 2024 Legislative Session.