S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6102--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 11, 2017
                                ___________
 
 Introduced  by  Sen.  GOLDEN -- 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-five year retirement program
   for members of the New York city employees' retirement system employed
   as fire protection inspectors and associate  fire  protection  inspec-
   tors; and to amend the retirement and social security law, in relation
   to  the establishment of twenty-five 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:
 
   Section  1. The administrative code of the city of New York is amended
 by adding a new section 13-157.5 to read as follows:
   § 13-157.5 TWENTY-FIVE YEAR RETIREMENT  PROGRAM  FOR  FIRE  PROTECTION
 INSPECTOR  MEMBERS.  A.  DEFINITIONS. THE FOLLOWING WORDS AND PHRASES AS
 USED IN THIS SECTION SHALL HAVE THE FOLLOWING MEANINGS UNLESS A  DIFFER-
 ENT MEANING IS PLAINLY REQUIRED BY THE CONTEXT.
   1.  "FIRE  PROTECTION  INSPECTOR  MEMBER"  SHALL  MEAN A MEMBER OF THE
 RETIREMENT SYSTEM WHO IS EMPLOYED BY THE CITY OF NEW YORK OR BY THE  NEW
 YORK  CITY  FIRE  DEPARTMENT IN A TITLE WHOSE DUTIES ARE THOSE OF A FIRE
 PROTECTION INSPECTOR OR ASSOCIATE FIRE PROTECTION  INSPECTOR,  OR  IN  A
 TITLE WHOSE DUTIES REQUIRE THE SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE
 THOSE  OF  A  FIRE  PROTECTION  INSPECTOR  OR  ASSOCIATE FIRE PROTECTION
 INSPECTOR.
   2. "TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL MEAN ALL THE TERMS  AND
 CONDITIONS OF THIS SECTION.
   3.  "STARTING  DATE  OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL
 MEAN THE DATE OF ENACTMENT OF THIS SECTION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05670-03-7
              

 S. 6102--A                          2
 
   4. "PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL MEAN
 ANY  FIRE  PROTECTION  INSPECTOR  MEMBER  WHO,  UNDER   THE   APPLICABLE
 PROVISIONS  OF SUBDIVISION B OF THIS SECTION, IS ENTITLED TO THE RIGHTS,
 BENEFITS AND PRIVILEGES AND IS SUBJECT TO THE OBLIGATIONS OF  THE  TWEN-
 TY-FIVE YEAR RETIREMENT PROGRAM AS APPLICABLE TO HIM OR HER.
   5.  "DISCONTINUED  MEMBER" SHALL MEAN A PARTICIPANT IN THE TWENTY-FIVE
 YEAR RETIREMENT PROGRAM WHO, WHILE HE  OR  SHE  WAS  A  FIRE  PROTECTION
 INSPECTOR  MEMBER, DISCONTINUED SERVICE AS SUCH A MEMBER AND HAS A RIGHT
 TO A DEFERRED VESTED BENEFIT UNDER THE PROVISIONS OF  SUBDIVISION  D  OF
 THIS SECTION.
   6.  "ALLOWABLE  SERVICE  AS  A FIRE PROTECTION INSPECTOR MEMBER" SHALL
 MEAN (I) ALL SERVICE WHILE EMPLOYED BY THE CITY OF NEW YORK  OR  BY  THE
 NEW  YORK  CITY  FIRE  DEPARTMENT IN A TITLE WHOSE DUTIES ARE THOSE OF A
 FIRE PROTECTION INSPECTOR OR ASSOCIATE FIRE  PROTECTION  INSPECTOR,  AND
 (II)  WITH  RESPECT TO AN INDIVIDUAL WHO WAS EMPLOYED UPON THE EFFECTIVE
 DATE OF THIS SECTION OR THEREAFTER IN A TITLE WHOSE DUTIES ARE THOSE  OF
 A  FIRE PROTECTION INSPECTOR OR ASSOCIATE FIRE PROTECTION INSPECTOR, ALL
 SUCH SERVICE SUBSEQUENT THERETO IN A  TITLE  WHOSE  DUTIES  REQUIRE  THE
 SUPERVISION  OF  EMPLOYEES  WHOSE  DUTIES ARE THOSE OF A FIRE PROTECTION
 INSPECTOR OR ASSOCIATE FIRE PROTECTION INSPECTOR IN THE  NEW  YORK  CITY
 FIRE DEPARTMENT.
   B.  PARTICIPATION  IN  THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM. 1.
 SUBJECT TO THE PROVISIONS OF PARAGRAPHS FIVE AND SIX  OF  THIS  SUBDIVI-
 SION, ANY PERSON WHO IS A FIRE PROTECTION INSPECTOR MEMBER ON THE START-
 ING  DATE OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM MAY ELECT TO BECOME
 A PARTICIPANT IN THE TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  BY  FILING,
 WITHIN  ONE  HUNDRED  EIGHTY DAYS AFTER THE STARTING DATE OF THE TWENTY-
 FIVE YEAR RETIREMENT PROGRAM,  A  DULY  EXECUTED  APPLICATION  FOR  SUCH
 PARTICIPATION  WITH  THE  RETIREMENT  SYSTEM  OF  WHICH SUCH PERSON IS A
 MEMBER, PROVIDED HE OR SHE IS SUCH A FIRE PROTECTION INSPECTOR MEMBER ON
 THE DATE SUCH APPLICATION IS FILED.
   2. SUBJECT TO THE PROVISIONS OF PARAGRAPHS FIVE AND SIX OF THIS SUBDI-
 VISION, ANY PERSON WHO BECOMES A FIRE PROTECTION INSPECTOR MEMBER  AFTER
 THE  STARTING  DATE OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM MAY ELECT
 TO BECOME A PARTICIPANT IN THE TWENTY-FIVE YEAR  RETIREMENT  PROGRAM  BY
 FILING,  WITHIN  ONE  HUNDRED  EIGHTY  DAYS  AFTER  BECOMING SUCH A FIRE
 PROTECTION INSPECTOR  MEMBER,  A  DULY  EXECUTED  APPLICATION  FOR  SUCH
 PARTICIPATION  WITH  THE  RETIREMENT  SYSTEM  OF  WHICH SUCH PERSON IS A
 MEMBER, PROVIDED HE OR SHE IS SUCH A FIRE PROTECTION INSPECTOR MEMBER ON
 THE DATE SUCH APPLICATION IS FILED.
   3. ANY ELECTION TO BE A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT
 PROGRAM SHALL BE IRREVOCABLE.
   4. WHERE ANY PARTICIPANT IN THE TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM
 SHALL  CEASE TO BE EMPLOYED AS A FIRE PROTECTION INSPECTOR MEMBER, HE OR
 SHE SHALL CEASE TO BE SUCH A PARTICIPANT AND, DURING ANY PERIOD IN WHICH
 SUCH PERSON IS NOT SO EMPLOYED, HE OR SHE SHALL NOT BE A PARTICIPANT  IN
 THE  TWENTY-FIVE  YEAR  RETIREMENT PROGRAM AND SHALL NOT BE ELIGIBLE FOR
 THE BENEFITS OF SUBDIVISION C OF THIS SECTION.
   5. WHERE ANY PARTICIPANT IN THE TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM
 TERMINATES  SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER AND RETURNS TO
 SUCH SERVICE AS A FIRE PROTECTION INSPECTOR AT A LATER DATE, HE  OR  SHE
 SHALL AGAIN BECOME SUCH A PARTICIPANT ON THAT DATE.
   6.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY, ANY
 PERSON WHO IS ELIGIBLE TO BECOME A PARTICIPANT IN THE  TWENTY-FIVE  YEAR
 RETIREMENT  PROGRAM PURSUANT TO PARAGRAPH ONE OR TWO OF THIS SUBDIVISION
 FOR THE FULL ONE HUNDRED EIGHTY DAY PERIOD PROVIDED FOR IN SUCH APPLICA-

 S. 6102--A                          3
 
 BLE PARAGRAPH AND WHO FAILS TO TIMELY FILE A DULY  EXECUTED  APPLICATION
 FOR  SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM, SHALL NOT THEREAFTER
 BE ELIGIBLE TO BECOME A PARTICIPANT IN SUCH PROGRAM.
   C.  SERVICE  RETIREMENT  BENEFITS. 1. A PARTICIPANT IN THE TWENTY-FIVE
 YEAR RETIREMENT PROGRAM:
   (I) WHO HAS COMPLETED TWENTY-FIVE OR MORE YEARS OF  ALLOWABLE  SERVICE
 AS A FIRE PROTECTION INSPECTOR MEMBER; AND
   (II)  WHO  FILES WITH THE RETIREMENT SYSTEM AN APPLICATION FOR SERVICE
 RETIREMENT SETTING FORTH AT WHAT TIME, NOT LESS THAN THIRTY DAYS  SUBSE-
 QUENT  TO  THE  EXECUTION  AND  FILING  THEREOF, HE OR SHE DESIRES TO BE
 RETIRED; AND
   (III) WHO SHALL BE A PARTICIPANT IN THE  TWENTY-FIVE  YEAR  RETIREMENT
 PROGRAM  AT  THE  TIME  SO SPECIFIED FOR HIS OR HER RETIREMENT; SHALL BE
 RETIRED PURSUANT TO THE  PROVISIONS  OF  THIS  SECTION  AFFORDING  EARLY
 SERVICE RETIREMENT.
   2.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY, THE
 EARLY SERVICE RETIREMENT BENEFIT FOR A PARTICIPANT  IN  THE  TWENTY-FIVE
 YEAR  RETIREMENT  PROGRAM  WHO RETIRES PURSUANT TO PARAGRAPH ONE OF THIS
 SUBDIVISION SHALL BE A RETIREMENT ALLOWANCE CONSISTING OF:
   (I) AN AMOUNT, ON ACCOUNT OF THE REQUIRED MINIMUM PERIOD  OF  SERVICE,
 EQUAL  TO THE SUMS OF (A) AN ANNUITY WHICH SHALL BE THE ACTUARIAL EQUIV-
 ALENT OF THE ACCUMULATED DEDUCTIONS FROM HIS  OR  HER  PAY  DURING  SUCH
 PERIOD,  (B)  A  PENSION  FOR INCREASED-TAKE-HOME-PAY WHICH SHALL BE THE
 ACTUARIAL EQUIVALENT OF THE RESERVE FOR INCREASED-TAKE-HOME-PAY TO WHICH
 HE OR SHE MAY BE ENTITLED FOR SUCH PERIOD, AND (C) A PENSION WHICH, WHEN
 ADDED TO SUCH ANNUITY  AND  SUCH  PENSION  FOR  INCREASED-TAKE-HOME-PAY,
 PRODUCES A RETIREMENT ALLOWANCE EQUAL TO FIFTY-FIVE PERCENT OF THE SALA-
 RY EARNED OR EARNABLE IN THE YEAR PRIOR TO HIS OR HER RETIREMENT; PLUS
   (II) AN AMOUNT FOR EACH ADDITIONAL YEAR OF ALLOWABLE SERVICE AS A FIRE
 PROTECTION  INSPECTOR  MEMBER, OR FRACTION THEREOF, BEYOND SUCH REQUIRED
 MINIMUM PERIOD OF SERVICE EQUAL TO ONE AND SEVEN-TENTHS PERCENT  OF  THE
 SALARY EARNED OR EARNABLE IN THE YEAR PRIOR TO HIS OR HER RETIREMENT FOR
 SUCH  ALLOWABLE SERVICE DURING THE PERIOD FROM THE COMPLETION OF TWENTY-
 FIVE YEARS OF ALLOWABLE SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER TO
 THE DATE OF RETIREMENT.
   D. VESTING. 1.  A  PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR  RETIREMENT
 PROGRAM  WHO:  (I)  DISCONTINUES  SERVICE AS A FIRE PROTECTION INSPECTOR
 MEMBER, OTHER THAN BY DEATH  OR  RETIREMENT;  AND  (II)  PRIOR  TO  SUCH
 DISCONTINUANCE, COMPLETED FIVE BUT LESS THAN TWENTY-FIVE YEARS OF ALLOW-
 ABLE  CITY  SERVICE; AND (III) DOES NOT WITHDRAW IN WHOLE OR IN PART HIS
 OR HER ACCUMULATED MEMBER CONTRIBUTIONS PURSUANT TO  SECTION  13-141  OF
 THIS  CHAPTER, SHALL BE ENTITLED TO RECEIVE A DEFERRED VESTED BENEFIT AS
 PROVIDED IN THIS SUBDIVISION.
   2. (I) UPON SUCH DISCONTINUANCE UNDER THE CONDITIONS AND IN COMPLIANCE
 WITH THE PROVISIONS OF PARAGRAPH ONE OF THIS SUBDIVISION, SUCH  DEFERRED
 VESTED BENEFIT SHALL VEST AUTOMATICALLY.
   (II)  SUCH VESTED BENEFIT SHALL BECOME PAYABLE ON THE EARLIEST DATE ON
 WHICH SUCH DISCONTINUED MEMBER COULD HAVE RETIRED FOR  SERVICE  IF  SUCH
 DISCONTINUANCE HAD NOT OCCURRED.
   3.  SUCH  DEFERRED  VESTED  BENEFIT  SHALL  BE  A RETIREMENT ALLOWANCE
 CONSISTING OF AN AMOUNT EQUAL TO TWO  AND  TWO-TENTHS  PERCENT  OF  SUCH
 DISCONTINUED MEMBER'S SALARY EARNED OR EARNABLE IN THE YEAR PRIOR TO HIS
 OR  HER  DISCONTINUANCE,  MULTIPLIED BY THE NUMBER OF YEARS OF ALLOWABLE
 SERVICE AS A FIRE PROTECTION MEMBER.
   E. MEMBER CONTRIBUTIONS. ALL FIRE PROTECTION INSPECTOR MEMBERS OF  THE
 TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  SHALL BE REQUIRED TO MAKE MEMBER

 S. 6102--A                          4

 CONTRIBUTIONS AND ADDITIONAL MEMBER CONTRIBUTIONS IN ACCORDANCE WITH AND
 SUBJECT TO THE SAME RIGHTS, PRIVILEGES, OBLIGATIONS  AND  PROCEDURES  AS
 GOVERN  THE  MEMBER  CONTRIBUTIONS  AND  ADDITIONAL MEMBER CONTRIBUTIONS
 REQUIRED  BY  SUBDIVISION  D OF SECTION FOUR HUNDRED FORTY-FIVE-J OF THE
 RETIREMENT AND SOCIAL SECURITY LAW.
   FOR THE PURPOSE OF APPLYING UNDER THIS SUBDIVISION, SUCH SUBDIVISION D
 OF SECTION FOUR HUNDRED FORTY-FIVE-J OF THE RETIREMENT AND SOCIAL  SECU-
 RITY  LAW  TO A FIRE PROTECTION INSPECTOR MEMBER OF THE TWENTY-FIVE YEAR
 RETIREMENT PROGRAM WHO IS SUBJECT TO THE PROVISIONS OF THIS SECTION, AND
 IS NOT SUBJECT TO THE PROVISIONS OF ARTICLE ELEVEN OF THE RETIREMENT AND
 SOCIAL SECURITY LAW, THE TERM "CREDITED SERVICE," AS USED IN SUCH SUBDI-
 VISION, SHALL BE DEEMED TO MEAN ALLOWABLE SERVICE AS A  FIRE  PROTECTION
 INSPECTOR MEMBER.
   § 2. Subdivision a of section 444 of the retirement and social securi-
 ty  law,  as amended by section 141 of subpart B of part C of chapter 62
 of the laws of 2011, is amended to read as follows:
   a. Except as provided in subdivision c of section four hundred  forty-
 five-a  of  this  article,  subdivision c of section four hundred forty-
 five-b of this article, subdivision c of  section  four  hundred  forty-
 five-c   of   this  article,  subdivision  c  of  section  four  hundred
 forty-five-d of this article as added by chapter four  hundred  seventy-
 two  of  the  laws  of  nineteen  hundred  ninety-five, subdivision c of
 section four hundred forty-five-e of  this  article,  subdivision  c  of
 section  four  hundred forty-five-f of this article [and], subdivision c
 of section four hundred forty-five-h of this article AND  SUBDIVISION  C
 OF  SECTION  FOUR  HUNDRED  FORTY-FIVE-J, the maximum retirement benefit
 computed without optional modification provided to a member of a retire-
 ment system who is subject to the provisions of this article, other than
 a police officer, a firefighter, an investigator member of the New  York
 city  employees'  retirement system, a member of the uniformed personnel
 in institutions under the jurisdiction of the New York  city  department
 of  correction  who receives a performance of duty disability retirement
 allowance, a member of the uniformed personnel in institutions under the
 jurisdiction of the department of corrections and community  supervision
 or  a  security hospital treatment assistant, as those terms are defined
 in subdivision i of section eighty-nine of this chapter, who receives  a
 performance  of  duty  disability  retirement  allowance,  a member of a
 teachers' retirement system, New York city employees' retirement system,
 New York city board of education retirement system or a  member  of  the
 New York state and local employees' retirement system or a member of the
 New  York  city  employees'  retirement system or New York city board of
 education retirement system  employed  as  a  special  officer,  parking
 control  specialist, school safety agent, campus peace officer, taxi and
 limousine inspector or a police communications member and who receives a
 performance of duty disability pension,  from  funds  other  than  those
 based on a member's own or increased-take-home-pay contributions, shall,
 before  any  reduction  for early retirement, be sixty per centum of the
 first fifteen thousand three hundred dollars of  final  average  salary,
 and  fifty per centum of final average salary in excess of fifteen thou-
 sand three hundred dollars, and forty per centum of final average salary
 in excess of twenty-seven  thousand  three  hundred  dollars,  provided,
 however,  that  the  benefits  provided by subdivision c of section four
 hundred forty-five-d of this article as added by  chapter  four  hundred
 seventy-two  of  the laws of nineteen hundred ninety-five based upon the
 additional member  contributions  required  by  subdivision  d  of  such
 section  four  hundred  forty-five-d  shall  be  subject  to the maximum

 S. 6102--A                          5

 retirement benefit computations set forth in this section.  The  maximum
 retirement  benefit  computed without optional modification payable to a
 police officer, an investigator member of the New York  city  employees'
 retirement  system  or  a  firefighter  shall  equal  that  payable upon
 completion of thirty years of service, except that the  maximum  service
 retirement  benefit  computed  without optional modification shall equal
 that payable upon completion of thirty-two years of service.
   § 3. Subdivision a of section 445 of the retirement and social securi-
 ty law, as amended by chapter 295 of the laws of  2007,  is  amended  to
 read as follows:
   a.  No  member of a retirement system who is subject to the provisions
 of this article shall retire without regard to age, exclusive of retire-
 ment for disability, unless he OR SHE is a  policeman,  an  investigator
 member  of  the  New  York  city  employees' retirement system, fireman,
 correction officer, a qualifying member as defined  in  section  eighty-
 nine-t, as added by chapter six hundred fifty-seven of the laws of nine-
 teen  hundred  ninety-eight,  of this chapter, sanitation man, a special
 officer (including persons employed by the city of New York in the title
 urban park ranger or associate urban park ranger), school safety  agent,
 campus peace officer or a taxi and limousine commission inspector member
 of  the  New York city employees' retirement system or the New York city
 board of education retirement system, a dispatcher  member  of  the  New
 York  city  employees' retirement system, a police communications member
 of the New York city employees' retirement system, an EMT member of  the
 New  York  city employees' retirement system, a deputy sheriff member of
 the New York  city  employees'  retirement  system,  A  FIRE  PROTECTION
 INSPECTOR  MEMBER  OF  THE NEW YORK CITY EMPLOYEES' RETIREMENT SYSTEM, a
 correction officer of the Westchester county  correction  department  as
 defined  in section eighty-nine-e of this chapter or employed in Suffolk
 county as a peace officer, as defined in section eighty-nine-s, as added
 by chapter five hundred eighty-eight of the  laws  of  nineteen  hundred
 ninety-seven,   of  this  chapter,  employed  in  Suffolk  county  as  a
 correction officer, as defined in section eighty-nine-f of this chapter,
 or  employed  in  Nassau  county  as  a  correction  officer,  uniformed
 correction  division personnel, sheriff, undersheriff or deputy sheriff,
 as defined in section eighty-nine-g of  this  chapter,  or  employed  in
 Nassau  county  as an ambulance medical technician, an ambulance medical
 technician/supervisor or a member who performs ambulance medical techni-
 cian related services, as defined in section eighty-nine-s,  as  amended
 by  chapter  five  hundred seventy-eight of the laws of nineteen hundred
 ninety-eight, of this chapter, or employed in Nassau county as  a  peace
 officer,  as  defined in section eighty-nine-s, as added by chapter five
 hundred ninety-five of the laws of  nineteen  hundred  ninety-seven,  of
 this  chapter,  or employed in Albany county as a sheriff, undersheriff,
 deputy sheriff, correction officer or identification officer, as defined
 in section eighty-nine-h of this chapter or is employed in St.  Lawrence
 county as a sheriff, undersheriff, deputy sheriff or correction officer,
 as  defined  in  section eighty-nine-i of this chapter or is employed in
 Orleans county as a sheriff, undersheriff, deputy sheriff or  correction
 officer,  as  defined  in  section  eighty-nine-l  of this chapter or is
 employed in Jefferson county as a sheriff, undersheriff, deputy  sheriff
 or correction officer, as defined in section eighty-nine-j of this chap-
 ter  or is employed in Onondaga county as a deputy sheriff-jail division
 competitively appointed or  as  a  correction  officer,  as  defined  in
 section  eighty-nine-k  of this chapter or is employed in a county which
 makes an election under subdivision j of section eighty-nine-p  of  this

 S. 6102--A                          6
 
 chapter as a sheriff, undersheriff, deputy sheriff or correction officer
 as defined in such section eighty-nine-p or is employed in Broome County
 as  a  sheriff,  undersheriff,  deputy sheriff or correction officer, as
 defined  in  section eighty-nine-m of this chapter or is a Monroe county
 deputy sheriff-court security, or deputy sheriff-jailor  as  defined  in
 section  eighty-nine-n, as added by chapter five hundred ninety-seven of
 the laws of nineteen hundred ninety-one, of this chapter or is  employed
 in   Greene  county  as  a  sheriff,  undersheriff,  deputy  sheriff  or
 correction officer, as defined in section eighty-nine-o of this  chapter
 or  is  a  traffic officer with the town of Elmira as defined in section
 eighty-nine-q of this chapter or is employed by Suffolk county as a park
 police officer, as defined in section eighty-nine-r of this  chapter  or
 is  a peace officer employed by a county probation department as defined
 in section eighty-nine-t, as added by chapter six hundred three  of  the
 laws of nineteen hundred ninety-eight, of this chapter or is employed in
 Rockland  county as a deputy sheriff-civil as defined in section eighty-
 nine-v of this chapter as added by chapter four hundred forty-one of the
 laws of two thousand one, or is employed in Rockland county as a superi-
 or correction officer as defined in section eighty-nine-v of this  chap-
 ter  as added by chapter five hundred fifty-six of the laws of two thou-
 sand one or is a paramedic employed by the police department in the town
 of Tonawanda and retires under the provisions of  section  eighty-nine-v
 of  this  chapter,  as  added by chapter four hundred seventy-two of the
 laws of two thousand one, or is a county fire marshal, supervising  fire
 marshal,  fire  marshal,  assistant  fire  marshal, assistant chief fire
 marshal or chief fire marshal  employed  by  the  county  of  Nassau  as
 defined  in section eighty-nine-w of this chapter and is in a plan which
 permits immediate retirement upon completion of a  specified  period  of
 service  without  regard  to age. Except as provided in subdivision c of
 section four hundred forty-five-a of  this  article,  subdivision  c  of
 section  four  hundred  forty-five-b  of  this article, subdivision c of
 section four hundred forty-five-c of  this  article,  subdivision  c  of
 section  four  hundred  forty-five-d  of  this article, subdivision c of
 section four hundred forty-five-e of  this  article,  subdivision  c  of
 section  four  hundred forty-five-f of this article [and], subdivision c
 of section four hundred forty-five-h of this article, AND SUBDIVISION  C
 OF SECTION FOUR HUNDRED FORTY-FIVE-J OF THIS ARTICLE, a member in such a
 plan  and  such  an  occupation,  other than a policeman or investigator
 member of the New York city employees' retirement system or  a  fireman,
 shall  not be permitted to retire prior to the completion of twenty-five
 years of credited service; provided, however, if such a member  in  such
 an  occupation  is in a plan which permits retirement upon completion of
 twenty years of service regardless of age, he OR  SHE  may  retire  upon
 completion  of  twenty  years  of  credited  service  and  prior  to the
 completion of twenty-five years of service, but in such event the  bene-
 fit  provided  from  funds other than those based on such a member's own
 contributions shall not exceed two per centum of  final  average  salary
 per each year of credited service.
   § 4. The retirement and social security law is amended by adding a new
 section 445-j to read as follows:
   § 445-J. OPTIONAL TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM
 FOR  FIRE  PROTECTION  INSPECTOR  MEMBERS. A. DEFINITIONS. THE FOLLOWING
 WORDS AND PHRASES AS USED IN THIS SECTION SHALL HAVE THE FOLLOWING MEAN-
 INGS UNLESS A DIFFERENT MEANING IS PLAINLY REQUIRED BY THE CONTEXT.
   1. "RETIREMENT SYSTEM" SHALL MEAN THE NEW YORK CITY EMPLOYEES' RETIRE-
 MENT SYSTEM.

 S. 6102--A                          7
 
   2. "FIRE PROTECTION INSPECTOR MEMBER" SHALL MEAN (I) A MEMBER  OF  THE
 RETIREMENT  SYSTEM WHO IS SUBJECT TO THE PROVISIONS OF THIS ARTICLE, WHO
 IS EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY FIRE DEPART-
 MENT IN A TITLE WHOSE DUTIES ARE THOSE OF A FIRE PROTECTION INSPECTOR OR
 ASSOCIATE FIRE PROTECTION INSPECTOR; AND (II) A MEMBER OF THE RETIREMENT
 SYSTEM  WHO,  ON  THE DATE THIS ACT SHALL TAKE EFFECT OR THEREAFTER, WAS
 EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY FIRE DEPARTMENT
 IN A TITLE WHOSE DUTIES ARE THOSE OF  A  FIRE  PROTECTION  INSPECTOR  OR
 ASSOCIATE  FIRE PROTECTION INSPECTOR AND WHO, SUBSEQUENT THERETO, BECAME
 EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY FIRE DEPARTMENT
 IN A TITLE WHOSE DUTIES  REQUIRE  THE  SUPERVISION  OF  EMPLOYEES  WHOSE
 DUTIES  ARE  THOSE  OF  A  FIRE  PROTECTION  INSPECTOR OR ASSOCIATE FIRE
 PROTECTION INSPECTOR.
   3. "TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM"  SHALL  MEAN
 ALL THE TERMS AND CONDITIONS OF THIS SECTION.
   4.  "STARTING DATE OF THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT
 PROGRAM" SHALL MEAN THE DATE OF ENACTMENT OF THE ACT  WHICH  ADDED  THIS
 SECTION,  AS SUCH DATE IS CERTIFIED PURSUANT TO SECTION FORTY-ONE OF THE
 LEGISLATIVE LAW.
   5. "PARTICIPANT IN THE TWENTY-FIVE YEAR  IMPROVED  BENEFIT  RETIREMENT
 PROGRAM"  SHALL MEAN ANY FIRE PROTECTION INSPECTOR MEMBER WHO, UNDER THE
 APPLICABLE PROVISIONS OF SUBDIVISION B OF THIS SECTION, IS  ENTITLED  TO
 THE RIGHTS, BENEFITS AND PRIVILEGES AND IS SUBJECT TO THE OBLIGATIONS OF
 THE  TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM, AS APPLICABLE
 TO HIM OR HER.
   6. "ADMINISTRATIVE CODE" SHALL MEAN THE  ADMINISTRATIVE  CODE  OF  THE
 CITY OF NEW YORK.
   7.  "ACCUMULATED  DEDUCTIONS"  SHALL  MEAN  ACCUMULATED  DEDUCTIONS AS
 DEFINED IN SUBDIVISION ELEVEN OF SECTION 13-101  OF  THE  ADMINISTRATIVE
 CODE.
   8. "OPTIONAL RETIREMENT PROVISIONS" SHALL MEAN THE RIGHT TO RETIRE AND
 RECEIVE A RETIREMENT ALLOWANCE UNDER THIS SECTION UPON THE COMPLETION OF
 TWENTY-FIVE YEARS OF ALLOWABLE SERVICE.
   9. "ALLOWABLE SERVICE" FOR PURPOSES OF THIS SECTION SHALL MEAN (1) ALL
 SERVICE  WHILE  EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY
 FIRE DEPARTMENT IN A TITLE WHOSE DUTIES ARE THOSE OF A  FIRE  PROTECTION
 INSPECTOR  OR  ASSOCIATE FIRE PROTECTION INSPECTOR, AND (2) WITH RESPECT
 TO AN INDIVIDUAL WHO WAS  EMPLOYED  UPON  THE  EFFECTIVE  DATE  OF  THIS
 SECTION  OR  THEREAFTER  IN  A  TITLE  WHOSE  DUTIES ARE THOSE OF A FIRE
 PROTECTION INSPECTOR OR ASSOCIATE FIRE PROTECTION  INSPECTOR,  ALL  SUCH
 SERVICE  SUBSEQUENT  THERETO  IN A TITLE WHOSE DUTIES REQUIRE THE SUPER-
 VISION OF EMPLOYEES WHOSE DUTIES ARE THOSE OF A FIRE PROTECTION  INSPEC-
 TOR OR ASSOCIATE FIRE PROTECTION INSPECTOR.
   B.  ELECTION  OF TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM.
 1.  SUBJECT TO THE PROVISIONS OF PARAGRAPH FIVE AND SIX OF THIS SUBDIVI-
 SION, ANY PERSON WHO IS A FIRE PROTECTION INSPECTOR MEMBER ON THE START-
 ING DATE OF THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM MAY
 ELECT TO BECOME A PARTICIPANT IN THE TWENTY-FIVE YEAR  IMPROVED  BENEFIT
 RETIREMENT  PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY DAYS AFTER SUCH
 STARTING DATE, A DULY EXECUTED APPLICATION FOR SUCH  PARTICIPATION  WITH
 THE RETIREMENT SYSTEM, PROVIDED THAT HE OR SHE IS SUCH A FIRE PROTECTION
 INSPECTOR MEMBER ON THE DATE SUCH APPLICATION IS FILED.
   2.  SUBJECT TO THE PROVISION OF PARAGRAPHS FIVE AND SIX OF THIS SUBDI-
 VISION, ANY PERSON WHO BECOMES A FIRE PROTECTION INSPECTOR MEMBER  AFTER
 THE  STARTING  DATE  OF THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT
 PROGRAM MAY ELECT TO  BECOME  A  PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR

 S. 6102--A                          8
 
 IMPROVED BENEFIT RETIREMENT PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY
 DAYS  AFTER  BECOMING  SUCH  A  FIRE PROTECTION INSPECTOR MEMBER, A DULY
 EXECUTED APPLICATION FOR SUCH PARTICIPATION WITH THE RETIREMENT  SYSTEM,
 PROVIDED  THAT  HE  OR SHE IS SUCH A FIRE PROTECTION INSPECTOR MEMBER ON
 THE DATE SUCH APPLICATION IS FILED.
   3. ANY ELECTION TO BE A PARTICIPANT IN THE TWENTY-FIVE  YEAR  IMPROVED
 BENEFIT RETIREMENT PROGRAM SHALL BE IRREVOCABLE.
   4.  WHERE  ANY  PARTICIPANT  IN  THE TWENTY-FIVE YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM SHALL CEASE TO HOLD A POSITION AS A  FIRE  PROTECTION
 INSPECTOR  MEMBER,  HE  OR SHE SHALL CEASE TO BE SUCH A PARTICIPANT AND,
 DURING ANY PERIOD IN WHICH SUCH A PERSON  DOES  NOT  HOLD  SUCH  A  FIRE
 PROTECTION  INSPECTOR  POSITION, HE OR SHE SHALL NOT BE A PARTICIPANT IN
 THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM AND  SHALL  NOT
 BE ELIGIBLE FOR THE BENEFITS OF SUBDIVISION C OF THIS SECTION.
   5.  WHERE  ANY  PARTICIPANT  IN  THE TWENTY-FIVE YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM TERMINATES SERVICE AS  A  FIRE  PROTECTION  INSPECTOR
 MEMBER AND RETURNS TO SUCH SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER
 AT A LATER DATE, HE OR SHE SHALL AGAIN BECOME SUCH A PARTICIPANT ON THAT
 DATE.
   6.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY, ANY
 PERSON WHO IS ELIGIBLE TO BECOME A PARTICIPANT IN THE  TWENTY-FIVE  YEAR
 IMPROVED  BENEFIT RETIREMENT PROGRAM PURSUANT TO PARAGRAPH ONE OR TWO OF
 THIS SUBDIVISION FOR THE FULL ONE HUNDRED EIGHTY DAY PERIOD PROVIDED FOR
 IN SUCH APPLICABLE PARAGRAPH  AND  WHO  FAILS  TO  TIMELY  FILE  A  DULY
 EXECUTED  APPLICATION FOR SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM,
 SHALL NOT THEREAFTER  BE  ELIGIBLE  TO  BECOME  A  PARTICIPANT  IN  SUCH
 PROGRAM.
   C. SERVICE RETIREMENT BENEFITS. NOTWITHSTANDING ANY OTHER PROVISION OF
 LAW  TO  THE  CONTRARY,  WHERE  A  PARTICIPANT  IN  THE TWENTY-FIVE YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM, WHO IS OTHERWISE  QUALIFIED  FOR  A
 RETIREMENT  ALLOWANCE  PURSUANT TO THE OPTIONAL RETIREMENT PROVISION SET
 FORTH IN SUBDIVISION A OF THIS SECTION, HAS MADE AND/OR PAID,  WHILE  HE
 OR  SHE  IS  A  FIRE  PROTECTION INSPECTOR MEMBER, ALL ADDITIONAL MEMBER
 CONTRIBUTIONS AND INTEREST (IF ANY) REQUIRED BY SUBDIVISION  D  OF  THIS
 SECTION, THEN:
   1. THAT PARTICIPANT, WHILE HE OR SHE REMAINS PARTICIPANT, SHALL NOT BE
 SUBJECT  TO  THE  PROVISIONS  OF  SUBDIVISION  A OF SECTION FOUR HUNDRED
 FORTY-FIVE OF THIS CHAPTER; AND
   2. IF THAT PARTICIPANT, WHILE SUCH A PARTICIPANT, RETIRES FOR SERVICE,
 HE OR SHE SHALL NOT BE SUBJECT TO THE PROVISIONS OF SECTION FOUR HUNDRED
 FORTY-FOUR OF THIS CHAPTER; AND
   3. HIS OR HER RETIREMENT ALLOWANCE SHALL BE AN AMOUNT, ON  ACCOUNT  OF
 THE REQUIRED MINIMUM PERIOD OF SERVICE, EQUAL TO THE SUM OF (I) AN ANNU-
 ITY   WHICH  SHALL  BE  THE  ACTUARIAL  EQUIVALENT  OF  THE  ACCUMULATED
 DEDUCTIONS FROM HIS OR HER PAY DURING SUCH PERIOD, (II)  A  PENSION  FOR
 INCREASED-TAKE-HOME-PAY  WHICH  SHALL BE THE ACTUARIAL EQUIVALENT OF THE
 RESERVE FOR INCREASED-TAKE-HOME-PAY TO WHICH HE OR SHE MAY BE  ENTITLED,
 FOR  SUCH  PERIOD, AND (III) A PENSION WHICH, WHEN ADDED TO SUCH ANNUITY
 AND SUCH PENSION  FOR  INCREASED-TAKE-HOME-PAY,  PRODUCES  A  RETIREMENT
 ALLOWANCE  EQUAL  TO  FIFTY  PERCENT OF HIS OR HER FINAL AVERAGE SALARY,
 PLUS AN AMOUNT FOR EACH ADDITIONAL YEAR OF ALLOWABLE SERVICE AS  A  FIRE
 PROTECTION  INSPECTOR  MEMBER, OR FRACTION THEREOF, BEYOND SUCH REQUIRED
 MINIMUM PERIOD OF SERVICE EQUAL TO TWO PERCENT OF HIS OR HER FINAL AVER-
 AGE SALARY FOR SUCH ALLOWABLE SERVICE AS  A  FIRE  PROTECTION  INSPECTOR
 MEMBER  DURING THE PERIOD FROM COMPLETION OF TWENTY-FIVE YEARS OF ALLOW-
 ABLE SERVICE AS A FIRE  PROTECTION  INSPECTOR  MEMBER  TO  THE  DATE  OF

 S. 6102--A                          9
 
 RETIREMENT  BUT NOT TO EXCEED MORE THAN FIVE YEARS OF ADDITIONAL SERVICE
 AS A FIRE PROTECTION INSPECTOR MEMBER.
   D.  ADDITIONAL  MEMBER  CONTRIBUTIONS.  1.  IN  ADDITION TO THE MEMBER
 CONTRIBUTIONS REQUIRED PURSUANT TO  SECTION  13-125  OR  13-162  OF  THE
 ADMINISTRATIVE  CODE  OF  THE  CITY OF NEW YORK, EACH PARTICIPANT IN THE
 TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM  SHALL  CONTRIBUTE,
 SUBJECT TO THE APPLICABLE PROVISIONS OF SECTION 13-125.2 OF THE ADMINIS-
 TRATIVE  CODE  OF THE CITY OF NEW YORK, AN ADDITIONAL SIX PERCENT OF HIS
 OR HER COMPENSATION EARNED FROM ALLOWABLE SERVICE AS A  FIRE  PROTECTION
 INSPECTOR  MEMBER,  AS  A  PARTICIPANT  IN THE TWENTY-FIVE YEAR IMPROVED
 BENEFIT RETIREMENT PROGRAM, RENDERED ON AND AFTER THE STARTING  DATE  OF
 THE  IMPROVED BENEFIT RETIREMENT PROGRAM, AND ALL ALLOWABLE SERVICE AS A
 FIRE PROTECTION INSPECTOR MEMBER  AFTER  SUCH  PERSON  CEASES  TO  BE  A
 PARTICIPANT,  BUT  BEFORE HE OR SHE AGAIN BECOMES A PARTICIPANT PURSUANT
 TO PARAGRAPH FIVE OF SUBDIVISION B OF THIS SECTION.   A  PARTICIPANT  IN
 THE  TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM SHALL CONTRIB-
 UTE ADDITIONAL MEMBER CONTRIBUTIONS UNTIL THE LATER OF THE  DATE  AS  OF
 WHICH  HE  OR  SHE  IS ELIGIBLE TO RETIRE WITH THIRTY YEARS OF ALLOWABLE
 SERVICE AS A FIRE PROTECTION  INSPECTOR  MEMBER  UNDER  SUCH  RETIREMENT
 PROGRAM,  OR  THE  FIRST ANNIVERSARY OF THE STARTING DATE OF THE TWENTY-
 FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM. THE  ADDITIONAL  CONTRIB-
 UTIONS  REQUIRED  BY  THIS SECTION SHALL BE IN LIEU OF ADDITIONAL MEMBER
 CONTRIBUTIONS REQUIRED BY SUBDIVISION D OF SECTION FOUR  HUNDRED  FORTY-
 FIVE-D  OF  THIS  CHAPTER, AS ADDED BY CHAPTER NINETY-SIX OF THE LAWS OF
 NINETEEN HUNDRED NINETY-FIVE, AND NO MEMBER PAYING  ADDITIONAL  CONTRIB-
 UTIONS  PURSUANT  TO  THIS  SECTION  SHALL BE REQUIRED TO PAY ADDITIONAL
 CONTRIBUTIONS PURSUANT TO SUCH SUBDIVISION D  OF  SECTION  FOUR  HUNDRED
 FORTY-FIVE-D OF THIS CHAPTER.
   2.  COMMENCING  WITH  THE  FIRST FULL PAYROLL PERIOD AFTER EACH PERSON
 BECOMES A PARTICIPANT IN THE TWENTY-FIVE YEAR IMPROVED  BENEFIT  RETIRE-
 MENT  PROGRAM,  ADDITIONAL MEMBER CONTRIBUTIONS AT THE RATE SPECIFIED IN
 PARAGRAPH ONE OF THIS SUBDIVISION SHALL  BE  DEDUCTED,  SUBJECT  TO  THE
 APPLICABLE  PROVISIONS OF SECTION 13-125.2 OF THE ADMINISTRATIVE CODE OF
 THE CITY OF NEW YORK, FROM THE COMPENSATION OF SUCH PARTICIPANT ON  EACH
 AND  EVERY PAYROLL OF SUCH PARTICIPANT FOR EACH AND EVERY PAYROLL PERIOD
 FOR WHICH HE OR SHE IS SUCH A PARTICIPANT.
   3. (I) SUBJECT TO THE PROVISIONS OF SUBPARAGRAPH (II)  OF  THIS  PARA-
 GRAPH,  WHERE  ANY ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY PARAGRAPH
 ONE OF THIS SUBDIVISION ARE NOT PAID BY DEDUCTIONS FROM A  PARTICIPANT'S
 COMPENSATION PURSUANT TO PARAGRAPH TWO OF THIS SUBDIVISION:
   (A)  THAT  PARTICIPANT SHALL BE CHARGED WITH A CONTRIBUTION DEFICIENCY
 CONSISTING OF SUCH  UNPAID  AMOUNTS,  TOGETHER  WITH  INTEREST  THEREON,
 COMPOUNDED ANNUALLY; AND
   (B)  SUCH  INTEREST  ON  EACH AMOUNT OF UNDEDUCTED CONTRIBUTIONS SHALL
 ACCRUE FROM THE END OF THE PAYROLL PERIOD FOR WHICH  SUCH  AMOUNT  WOULD
 HAVE BEEN DEDUCTED FROM COMPENSATION IF HE OR SHE HAD BEEN A PARTICIPANT
 AT  THE  BEGINNING  OF  THAT PAYROLL PERIOD AND SUCH DEDUCTIONS HAD BEEN
 REQUIRED FOR SUCH PAYROLL PERIOD  UNTIL  SUCH  AMOUNT  IS  PAID  TO  THE
 RETIREMENT SYSTEM; AND
   (C)  (1)  INTEREST  ON EACH SUCH AMOUNT INCLUDED IN SUCH PARTICIPANT'S
 CONTRIBUTION DEFICIENCY PURSUANT TO THIS SUBPARAGRAPH  SHALL  BE  CALCU-
 LATED  AS IF SUCH ADDITIONAL MEMBER CONTRIBUTIONS NEVER HAD BEEN PAID BY
 SUCH PARTICIPANT, AND SUCH INTEREST SHALL ACCRUE FROM  THE  END  OF  THE
 PAYROLL PERIOD TO WHICH AN AMOUNT OF SUCH ADDITIONAL MEMBER CONTRIBUTION
 IS  ATTRIBUTABLE,  COMPOUNDED ANNUALLY, UNTIL SUCH AMOUNT IS PAID TO THE
 RETIREMENT SYSTEM;

 S. 6102--A                         10
 
   (2) THE RATE OF INTEREST TO BE APPLIED TO EACH SUCH AMOUNT DURING  THE
 PERIOD  FOR  WHICH INTEREST ACCRUES ON THAT AMOUNT SHALL BE EQUAL TO THE
 RATE OR RATES OF INTEREST REQUIRED BY LAW TO BE USED  DURING  THAT  SAME
 PERIOD  TO  CREDIT  INTEREST ON THE ACCUMULATED DEDUCTIONS OF RETIREMENT
 SYSTEM MEMBERS;
   (II)  EXCEPT  AS  PROVIDED IN SUBPARAGRAPH (III) OF THIS PARAGRAPH, NO
 INTEREST SHALL BE DUE ON ANY UNPAID ADDITIONAL CONTRIBUTIONS  WHICH  ARE
 NOT  ATTRIBUTABLE  TO  THE PERIOD PRIOR TO THE FIRST FULL PAYROLL PERIOD
 REFERRED TO IN PARAGRAPH TWO OF THIS SUBDIVISION;
   (III) SHOULD ANY PERSON WHO,  PURSUANT  TO  PARAGRAPH  SEVEN  OF  THIS
 SUBDIVISION  HAS  WITHDRAWN ANY ADDITIONAL MEMBER CONTRIBUTIONS (AND ANY
 INTEREST PAID THEREON) AGAIN BECOME A  PARTICIPANT  IN  THE  TWENTY-FIVE
 YEAR  IMPROVED  BENEFIT RETIREMENT PROGRAM PURSUANT TO PARAGRAPH FIVE OF
 SUBDIVISION B OF THIS SECTION, AN APPROPRIATE AMOUNT SHALL  BE  INCLUDED
 IN SUCH PARTICIPANT'S CONTRIBUTION DEFICIENCY (INCLUDING INTEREST THERE-
 ON  AS  CALCULATED  PURSUANT TO THIS PARAGRAPH) FOR ANY CREDITED SERVICE
 WITH RESPECT TO WHICH SUCH PERSON RECEIVED A REFUND OF ADDITIONAL MEMBER
 CONTRIBUTIONS (INCLUDING ANY AMOUNT OF AN UNPAID LOAN BALANCE DEEMED  TO
 HAVE  BEEN  RETURNED  TO SUCH PERSON PURSUANT TO PARAGRAPH SEVEN OF THIS
 SUBDIVISION), AS IF SUCH ADDITIONAL MEMBER CONTRIBUTIONS NEVER HAD  BEEN
 PAID.
   4. THE BOARD OF TRUSTEES OF THE RETIREMENT SYSTEM MAY, CONSISTENT WITH
 THE  PROVISIONS  OF  THIS  SUBDIVISION,  PROMULGATE  REGULATIONS FOR THE
 PAYMENT OF THE ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY THIS SUBDIVI-
 SION, AND ANY INTEREST THEREON, BY A PARTICIPANT IN THE TWENTY-FIVE YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM (INCLUDING  THE  DEDUCTION  OF  SUCH
 CONTRIBUTIONS, AND ANY INTEREST THEREON, FROM HIS OR HER COMPENSATION).
   5.  WHERE  A PARTICIPANT WHO IS OTHERWISE ELIGIBLE FOR SERVICE RETIRE-
 MENT PURSUANT TO SUBDIVISION C OF THIS SECTION DID  NOT,  PRIOR  TO  THE
 EFFECTIVE  DATE  OF  RETIREMENT, PAY THE ENTIRE AMOUNT OF A CONTRIBUTION
 DEFICIENCY CHARGEABLE TO HIM OR HER PURSUANT TO PARAGRAPH THREE OF  THIS
 SUBDIVISION,  OR  REPAY  THE ENTIRE AMOUNT OF A LOAN OF HIS OR HER ADDI-
 TIONAL MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH EIGHT OF THIS SUBDIVI-
 SION (INCLUDING ACCRUED INTEREST ON SUCH LOAN), THAT PARTICIPANT, NEVER-
 THELESS, SHALL BE ELIGIBLE TO RETIRE PURSUANT TO SUBDIVISION C  OF  THIS
 SECTION,  PROVIDED, HOWEVER, THAT WHERE SUCH PARTICIPANT IS NOT ENTITLED
 TO A REFUND OF ADDITIONAL MEMBER  CONTRIBUTIONS  PURSUANT  TO  PARAGRAPH
 SEVEN OF THIS SUBDIVISION, SUCH PARTICIPANT'S SERVICE RETIREMENT BENEFIT
 CALCULATED  PURSUANT  TO  THE  APPLICABLE PROVISIONS OF SUBDIVISION C OF
 THIS SECTION SHALL BE REDUCED BY A LIFE ANNUITY (CALCULATED  IN  ACCORD-
 ANCE  WITH  THE METHOD SET FORTH IN SUBDIVISION I OF SECTION SIX HUNDRED
 THIRTEEN-B OF THIS CHAPTER) WHICH IS ACTUARIALLY EQUIVALENT TO: (I)  THE
 AMOUNT  OF  ANY UNPAID CONTRIBUTION DEFICIENCY CHARGEABLE TO SUCH MEMBER
 PURSUANT TO PARAGRAPH THREE OF THIS SUBDIVISION; PLUS (II) THE AMOUNT OF
 ANY UNPAID BALANCE OF A LOAN OF HIS OR HER  ADDITIONAL  MEMBER  CONTRIB-
 UTIONS  PURSUANT  TO  PARAGRAPH  EIGHT  OF  THIS  SUBDIVISION (INCLUDING
 ACCRUED INTEREST ON SUCH LOAN).
   6. SUBJECT TO THE PROVISIONS OF PARAGRAPH FIVE  OF  THIS  SUBDIVISION,
 WHERE  A  PARTICIPANT  HAS  NOT PAID IN FULL ANY CONTRIBUTION DEFICIENCY
 CHARGEABLE TO HIM OR HER PURSUANT TO PARAGRAPH THREE  OF  THIS  SUBDIVI-
 SION,  AND  A  BENEFIT,  OTHER  THAN  A REFUND OF A MEMBER'S ACCUMULATED
 DEDUCTIONS OR A REFUND OF ADDITIONAL MEMBER  CONTRIBUTIONS  PURSUANT  TO
 PARAGRAPH  SEVEN  OF THIS SUBDIVISION, BECOMES PAYABLE BY THE RETIREMENT
 SYSTEM TO THE PARTICIPANT OR TO HIS OR  HER  DESIGNATED  BENEFICIARY  OR
 ESTATE,  THE  ACTUARIAL  EQUIVALENT  OF  ANY SUCH UNPAID AMOUNT SHALL BE
 DEDUCTED FROM THE BENEFIT OTHERWISE PAYABLE.

 S. 6102--A                         11

   7. (I) ALL ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY  THIS  SUBDIVI-
 SION  (AND  ANY  INTEREST  THEREON) WHICH ARE RECEIVED BY THE RETIREMENT
 SYSTEM SHALL BE PAID INTO ITS CONTINGENT RESERVE FUND AND SHALL  BE  THE
 PROPERTY  OF THE RETIREMENT SYSTEM. SUCH ADDITIONAL MEMBER CONTRIBUTIONS
 (AND  ANY  INTEREST  THEREON)  SHALL NOT FOR ANY PURPOSE BE DEEMED TO BE
 MEMBER CONTRIBUTIONS OR  ACCUMULATED  DEDUCTIONS  OF  A  MEMBER  OF  THE
 RETIREMENT  SYSTEM  UNDER SECTION 13-125 OR 13-162 OF THE ADMINISTRATIVE
 CODE OF THE CITY OF NEW YORK WHILE HE OR SHE IS  A  PARTICIPANT  IN  THE
 TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM OR OTHERWISE.
   (II)  SHOULD  A  PARTICIPANT  IN THE TWENTY-FIVE YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM, WHO HAS RENDERED LESS THAN FIFTEEN YEARS OF CREDITED
 SERVICE CEASE TO HOLD A POSITION AS A FIRE PROTECTION  INSPECTOR  MEMBER
 FOR  ANY  REASON  WHATSOEVER,  HIS  OR HER ACCUMULATED ADDITIONAL MEMBER
 CONTRIBUTIONS MADE PURSUANT  TO  THIS  SUBDIVISION  (TOGETHER  WITH  ANY
 INTEREST THEREON PAID TO THE RETIREMENT SYSTEM) WHICH REMAIN CREDITED TO
 SUCH  PARTICIPANT'S  ACCOUNT  MAY BE WITHDRAWN BY HIM OR HER PURSUANT TO
 PROCEDURES PROMULGATED IN REGULATIONS OF THE BOARD OF  TRUSTEES  OF  THE
 RETIREMENT  SYSTEM, TOGETHER WITH INTEREST THEREON AT THE RATE OF INTER-
 EST REQUIRED BY LAW TO BE USED TO CREDIT  INTEREST  ON  THE  ACCUMULATED
 DEDUCTIONS OF RETIREMENT SYSTEM MEMBERS COMPOUNDED ANNUALLY.
   (III) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY,
   (A)  NO  PERSON  SHALL  BE  PERMITTED  TO WITHDRAW FROM THE RETIREMENT
 SYSTEM ANY ADDITIONAL MEMBER CONTRIBUTIONS PAID PURSUANT TO THIS  SUBDI-
 VISION  OR  ANY INTEREST PAID THEREON, EXCEPT PURSUANT TO AND IN ACCORD-
 ANCE WITH THE PRECEDING SUBPARAGRAPHS OF THIS PARAGRAPH; AND
   (B) NO PERSON, WHILE HE OR SHE IS A  PARTICIPANT  IN  THE  TWENTY-FIVE
 YEAR IMPROVED BENEFIT RETIREMENT PROGRAM, SHALL BE PERMITTED TO WITHDRAW
 ANY  SUCH  ADDITIONAL  MEMBER CONTRIBUTIONS OR ANY INTEREST PAID THEREON
 PURSUANT TO ANY OF THE PRECEDING  SUBPARAGRAPHS  OF  THIS  PARAGRAPH  OR
 OTHERWISE.
   8.  A  PARTICIPANT IN THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT
 PROGRAM SHALL BE PERMITTED TO BORROW FROM HIS OR HER  ADDITIONAL  MEMBER
 CONTRIBUTIONS,  INCLUDING  ANY INTEREST PAID THEREON, WHICH ARE CREDITED
 TO THE ADDITIONAL CONTRIBUTIONS ACCOUNT ESTABLISHED FOR SUCH PARTICIPANT
 IN THE CONTINGENT RESERVE FUND OF THE RETIREMENT SYSTEM.  THE  BORROWING
 FROM  SUCH  ADDITIONAL  MEMBER  CONTRIBUTIONS PURSUANT TO THIS PARAGRAPH
 SHALL BE GOVERNED BY THE SAME RIGHTS, PRIVILEGES, OBLIGATIONS AND PROCE-
 DURES SET FORTH IN SECTION SIX HUNDRED THIRTEEN-B OF THIS CHAPTER  WHICH
 GOVERN THE BORROWING BY MEMBERS SUBJECT TO ARTICLE FIFTEEN OF THIS CHAP-
 TER  OF  MEMBER CONTRIBUTIONS MADE PURSUANT TO SECTION SIX HUNDRED THIR-
 TEEN OF THIS CHAPTER. THE BOARD OF TRUSTEES  OF  THE  RETIREMENT  SYSTEM
 MAY,  CONSISTENT  WITH  THE  PROVISIONS  OF  THIS  SUBDIVISION  AND  THE
 PROVISIONS OF SECTION SIX HUNDRED THIRTEEN-B OF  THIS  CHAPTER  AS  MADE
 APPLICABLE  TO  THIS  SUBDIVISION,  PROMULGATE REGULATIONS GOVERNING THE
 BORROWING OF SUCH ADDITION MEMBER CONTRIBUTIONS.
   9. WHEREVER A PERSON HAS AN UNPAID BALANCE OF A LOAN  OF  HIS  OR  HER
 ADDITIONAL  MEMBER  CONTRIBUTIONS  PURSUANT  TO  PARAGRAPH EIGHT OF THIS
 SUBDIVISION AT THE TIME HE OR SHE BECOMES ENTITLED TO A REFUND OF HIS OR
 HER ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT  TO  SUBPARAGRAPH  (II)  OF
 PARAGRAPH  SEVEN  OF  THIS  SUBDIVISION,  THE AMOUNT OF SUCH UNPAID LOAN
 BALANCE (INCLUDING ACCRUED  INTEREST)  SHALL  BE  DEEMED  TO  HAVE  BEEN
 RETURNED TO SUCH MEMBER, AND THE REFUND OF SUCH ADDITIONAL CONTRIBUTIONS
 SHALL  BE  THE  NET AMOUNT OF SUCH CONTRIBUTIONS, TOGETHER WITH INTEREST
 THEREON IN ACCORDANCE WITH THE PROVISIONS OF SUCH SUBPARAGRAPH.
   10. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO  THE  CONTRARY,  THE
 PROVISIONS  OF  SECTION ONE HUNDRED THIRTY-EIGHT-B OF THIS CHAPTER SHALL

 S. 6102--A                         12
 
 NOT BE APPLICABLE TO  THE  ADDITIONAL  MEMBER  CONTRIBUTIONS  WHICH  ARE
 REQUIRED BY THIS SUBDIVISION.
   11.  NOTWITHSTANDING  ANY  OTHER PROVISION OF LAW TO THE CONTRARY, THE
 ADDITIONAL MEMBER CONTRIBUTIONS WHICH ARE REQUIRED BY  THIS  SUBDIVISION
 SHALL NOT BE REDUCED UNDER ANY PROGRAM FOR INCREASED-TAKE-HOME-PAY.
   E.  THE  PROVISIONS  OF THIS SECTION SHALL NOT BE CONSTRUED TO PROVIDE
 BENEFITS TO ANY PARTICIPANT IN THE  TWENTY-FIVE  YEAR  IMPROVED  BENEFIT
 RETIREMENT  PROGRAM WHICH ARE GREATER THAN THOSE WHICH WOULD BE RECEIVED
 BY A SIMILARLY SITUATED MEMBER WHO IS ENTITLED  TO  BENEFITS  UNDER  THE
 PROVISIONS  OF  SECTION  13-157.2 OF THE ADMINISTRATIVE CODE, BUT WHO IS
 NOT GOVERNED BY THE PROVISIONS OF THIS ARTICLE.
   § 5. The retirement and social security law is amended by adding a new
 section 604-j to read as follows:
   § 604-J. TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  FOR  FIRE  PROTECTION
 INSPECTOR  MEMBERS.  A.  DEFINITIONS. THE FOLLOWING WORDS AND PHRASES AS
 USED IN THIS SECTION SHALL HAVE THE FOLLOWING MEANINGS UNLESS A  DIFFER-
 ENT MEANING IS PLAINLY REQUIRED BY THE CONTEXT.
   1.  "FIRE  PROTECTION  INSPECTOR  MEMBER"  SHALL  MEAN A MEMBER WHO IS
 EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY FIRE DEPARTMENT
 IN A TITLE WHOSE DUTIES ARE THOSE OF  A  FIRE  PROTECTION  INSPECTOR  OR
 ASSOCIATE  FIRE PROTECTION INSPECTOR; OR IN A TITLE WHOSE DUTIES REQUIRE
 THE SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE THOSE OF A FIRE PROTECTION
 INSPECTOR OR ASSOCIATE FIRE PROTECTION INSPECTOR.
   2. "TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL MEAN ALL THE TERMS  AND
 CONDITIONS OF THIS SECTION.
   3.  "STARTING  DATE  OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL
 MEAN THE DATE OF ENACTMENT OF THIS SECTION.
   4. "PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL MEAN
 ANY  FIRE  PROTECTION  INSPECTOR  MEMBER  WHO,  UNDER   THE   APPLICABLE
 PROVISIONS  OF SUBDIVISION B OF THIS SECTION, IS ENTITLED TO THE RIGHTS,
 BENEFITS AND PRIVILEGES AND IS SUBJECT TO THE OBLIGATIONS OF  THE  TWEN-
 TY-FIVE YEAR RETIREMENT PROGRAM, AS APPLICABLE TO HIM OR HER.
   5.  "DISCONTINUED  MEMBER" SHALL MEAN A PARTICIPANT IN THE TWENTY-FIVE
 YEAR RETIREMENT PROGRAM WHO, WHILE HE  OR  SHE  WAS  A  FIRE  PROTECTION
 INSPECTOR  MEMBER, DISCONTINUED SERVICE AS SUCH A MEMBER AND HAS A RIGHT
 TO A DEFERRED VESTED BENEFIT UNDER SUBDIVISION D OF THIS SECTION.
   6. "ADMINISTRATIVE CODE" SHALL MEAN THE  ADMINISTRATIVE  CODE  OF  THE
 CITY OF NEW YORK.
   7.  "ALLOWABLE  SERVICE  AS  A FIRE PROTECTION INSPECTOR MEMBER" SHALL
 MEAN ALL SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER.
   B. PARTICIPATION IN TWENTY-FIVE YEAR RETIREMENT PROGRAM. 1. SUBJECT TO
 THE PROVISIONS OF PARAGRAPHS SIX AND  SEVEN  OF  THIS  SUBDIVISION,  ANY
 PERSON WHO IS A FIRE PROTECTION INSPECTOR MEMBER ON THE STARTING DATE OF
 THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  AND  WHO,  AS  SUCH  A FIRE
 PROTECTION INSPECTOR MEMBER OR OTHERWISE, LAST  BECAME  SUBJECT  TO  THE
 PROVISIONS  OF  THIS  ARTICLE  PRIOR TO SUCH STARTING DATE, MAY ELECT TO
 BECOME A PARTICIPANT IN  THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  BY
 FILING,  WITHIN  ONE  HUNDRED EIGHTY DAYS AFTER THE STARTING DATE OF THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM, A  DULY  EXECUTED  APPLICATION  FOR
 SUCH  PARTICIPATION WITH THE RETIREMENT SYSTEM OF WHICH SUCH PERSON IS A
 MEMBER, PROVIDED HE OR SHE IS SUCH A FIRE PROTECTION INSPECTOR MEMBER ON
 THE DATE SUCH APPLICATION IS FILED.
   2. SUBJECT TO THE PROVISIONS OF  PARAGRAPHS  SIX  AND  SEVEN  OF  THIS
 SUBDIVISION,  ANY  PERSON WHO BECOMES A FIRE PROTECTION INSPECTOR MEMBER
 AFTER THE STARTING DATE OF THE TWENTY-FIVE YEAR RETIREMENT  PROGRAM  AND
 WHO,  AS  SUCH  A  FIRE  PROTECTION  INSPECTOR MEMBER OR OTHERWISE, LAST

 S. 6102--A                         13
 
 BECAME SUBJECT TO THE PROVISIONS OF THIS ARTICLE PRIOR TO SUCH  STARTING
 DATE,  MAY ELECT TO BECOME A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIRE-
 MENT PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY  DAYS  AFTER  BECOMING
 SUCH A FIRE PROTECTION INSPECTOR MEMBER, A DULY EXECUTED APPLICATION FOR
 SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM FOR WHICH SUCH PERSON IS A
 MEMBER,  PROVIDED  THAT  HE  OR  SHE IS SUCH A FIRE PROTECTION INSPECTOR
 MEMBER ON THE DATE SUCH APPLICATION IS FILED.
   3. EACH FIRE PROTECTION INSPECTOR MEMBER, OTHER THAN A FIRE PROTECTION
 INSPECTOR MEMBER SUBJECT TO PARAGRAPH ONE OR TWO  OF  THIS  SUBDIVISION,
 WHO  BECOMES  SUBJECT  TO THE PROVISIONS OF THIS ARTICLE ON OR AFTER THE
 STARTING DATE OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM SHALL BECOME  A
 PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM ON THE DATE HE OR
 SHE  BECOMES SUCH A FIRE PROTECTION INSPECTOR MEMBER. PROVIDED, HOWEVER,
 A PERSON SUBJECT TO THIS PARAGRAPH, AND WHO HAS EXCEEDED AGE TWENTY-FIVE
 UPON EMPLOYMENT AS A FIRE PROTECTION INSPECTOR MEMBER, SHALL  BE  EXEMPT
 FROM  PARTICIPATION  IN THE IMPROVED TWENTY-FIVE YEAR RETIREMENT PROGRAM
 IF SUCH PERSON ELECTS NOT TO PARTICIPATE BY FILING A DULY EXECUTED  FORM
 WITH  THE RETIREMENT SYSTEM WITHIN ONE HUNDRED EIGHTY DAYS OF BECOMING A
 FIRE PROTECTION INSPECTOR MEMBER.
   4. ANY ELECTION TO BE A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT
 PROGRAM SHALL BE IRREVOCABLE.
   5. WHERE ANY PARTICIPANT IN THE TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM
 SHALL  CEASE TO BE EMPLOYED AS A FIRE PROTECTION MEMBER, HE OR SHE SHALL
 CEASE TO BE SUCH A PARTICIPANT AND, DURING  ANY  PERIOD  IN  WHICH  SUCH
 PERSON  IS  NOT SO EMPLOYED, HE OR SHE SHALL NOT BE A PARTICIPANT IN THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM AND SHALL NOT BE  ELIGIBLE  FOR  THE
 BENEFITS OF SUBDIVISION C OF THIS SECTION.
   6.  WHERE  ANY  PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM
 TERMINATES SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER AND RETURNS  TO
 SUCH  SERVICE  AS A FIRE PROTECTION INSPECTOR MEMBER AT A LATER DATE, HE
 OR SHE SHALL AGAIN BECOME SUCH A PARTICIPANT ON THAT DATE.
   7. NOTWITHSTANDING ANY OTHER PROVISION OF THE LAW TO THE CONTRARY, ANY
 PERSON WHO IS ELIGIBLE TO ELECT TO BECOME A PARTICIPANT IN  THE  TWENTY-
 FIVE  YEAR  RETIREMENT  PROGRAM PURSUANT TO PARAGRAPH ONE OR TWO OF THIS
 SUBDIVISION FOR THE FULL ONE HUNDRED EIGHTY DAY PERIOD PROVIDED  FOR  IN
 SUCH  APPLICABLE  PARAGRAPH AND WHO FAILS TO TIMELY FILE A DULY EXECUTED
 APPLICATION FOR SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM, SHALL NOT
 THEREAFTER BE ELIGIBLE TO BECOME A PARTICIPANT IN SUCH PROGRAM.
   C. SERVICE RETIREMENT BENEFITS.  1. A PARTICIPANT IN  THE  TWENTY-FIVE
 YEAR RETIREMENT PROGRAM:
   (I)  WHO  HAS COMPLETED TWENTY-FIVE OR MORE YEARS OF ALLOWABLE SERVICE
 AS A FIRE PROTECTION MEMBER, AND
   (II) WHO HAS PAID, BEFORE THE EFFECTIVE DATE OF RETIREMENT, ALL  ADDI-
 TIONAL  MEMBER  CONTRIBUTIONS AND INTEREST (IF ANY) REQUIRED BY SUBDIVI-
 SION E OF THIS SECTION; AND
   (III) WHO FILES WITH THE RETIREMENT SYSTEM OF WHICH HE  OR  SHE  IS  A
 MEMBER AN APPLICATION FOR SERVICE RETIREMENT SETTING FORTH AT WHAT TIME,
 NOT  LESS THAN THIRTY DAYS SUBSEQUENT TO THE EXECUTION AND FILING THERE-
 OF, HE OR SHE DESIRES TO BE RETIRED; AND
   (IV) WHO SHALL BE A PARTICIPANT IN  THE  TWENTY-FIVE  YEAR  RETIREMENT
 PROGRAM  AT  THE  TIME  SO SPECIFIED FOR HIS OR HER RETIREMENT, SHALL BE
 RETIRED PURSUANT TO THE  PROVISIONS  OF  THIS  SECTION  AFFORDING  EARLY
 SERVICE RETIREMENT.
   2.  NOTWITHSTANDING  AN  OTHER  PROVISION  OF LAW TO THE CONTRARY, AND
 SUBJECT TO THE PROVISIONS OF PARAGRAPH SIX  OF  SUBDIVISION  E  OF  THIS
 SECTION,  THE  EARLY  SERVICE RETIREMENT BENEFIT FOR PARTICIPANTS IN THE

 S. 6102--A                         14

 TWENTY-FIVE YEAR RETIREMENT PROGRAM WHO RETIRE PURSUANT TO PARAGRAPH ONE
 OF THIS SUBDIVISION SHALL BE A RETIREMENT ALLOWANCE CONSISTING OF:
   (I)  AN  AMOUNT, ON ACCOUNT OF THE REQUIRED MINIMUM PERIOD OF SERVICE,
 EQUAL TO FIFTY PERCENT OF HIS OR HER FINAL AVERAGE SALARY; PLUS
   (II) AN AMOUNT ON ACCOUNT OF ALLOWABLE SERVICE AS  A  FIRE  PROTECTION
 MEMBER,  OR  FRACTION  THEREOF,  BEYOND  SUCH REQUIRED MINIMUM PERIOD OF
 SERVICE EQUAL TO TWO PERCENT OF HIS OR HER FINAL SALARY FOR SUCH  ALLOW-
 ABLE  SERVICE  AS  A  FIRE  PROTECTION  MEMBER  DURING  THE  PERIOD FROM
 COMPLETION  OF  TWENTY-FIVE  YEARS  OF  ALLOWABLE  SERVICE  AS  A   FIRE
 PROTECTION  MEMBER TO THE DATE OF RETIREMENT BUT NOT TO EXCEED MORE THAN
 FIVE YEARS OF ADDITIONAL SERVICE AS A FIRE PROTECTION MEMBER.
   D. VESTING. 1.  A  PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR  RETIREMENT
 PROGRAM:
   (I)  WHO  DISCONTINUES  SERVICE  AS  SUCH A PARTICIPANT, OTHER THAN BY
 DEATH OR RETIREMENT; AND
   (II) IN THE CASE OF A PARTICIPANT WHO IS NOT A NEW YORK  CITY  REVISED
 PLAN  MEMBER,  WHO PRIOR TO SUCH DISCONTINUANCE, COMPLETED FIVE BUT LESS
 THAN THAN TWENTY-FIVE YEARS OF ALLOWABLE SERVICE AS  A  FIRE  PROTECTION
 MEMBER  OR,  IN THE CASE OF A PARTICIPANT WHO IS A NEW YORK CITY REVISED
 PLAN MEMBER, WHO PRIOR TO SUCH DISCONTINUANCE, COMPLETED  TEN  BUT  LESS
 THAN TWENTY-FIVE YEARS OF ALLOWABLE SERVICE AS A FIRE PROTECTION MEMBER;
 AND
   (III) WHO, SUBJECT TO THE PROVISIONS OF PARAGRAPH SEVEN OF SUBDIVISION
 E  OF  THIS  SECTION,  HAS PAID, PRIOR TO SUCH DISCONTINUANCE, ALL ADDI-
 TIONAL MEMBER CONTRIBUTIONS AND INTEREST (IF ANY) REQUIRED  BY  SUBDIVI-
 SION E OF THIS SECTION; AND
   (IV)  WHO DOES NOT WITHDRAW IN WHOLE OR IN PART HIS OR HER ACCUMULATED
 MEMBER CONTRIBUTIONS PURSUANT TO SECTION SIX HUNDRED  THIRTEEN  OF  THIS
 ARTICLE UNLESS SUCH PARTICIPANT THEREAFTER RETURNS TO PUBLIC SERVICE AND
 REPAYS  THE  AMOUNTS  SO  WITHDRAWN, TOGETHER WITH INTEREST, PURSUANT TO
 SUCH SECTION SIX HUNDRED  THIRTEEN;  SHALL  BE  ENTITLED  TO  RECEIVE  A
 DEFERRED VESTED BENEFIT AS PROVIDED IN THIS SUBDIVISION.
   2. (I) UPON SUCH DISCONTINUANCE UNDER THE CONDITIONS AND IN COMPLIANCE
 WITH  THE PROVISIONS OF PARAGRAPH ONE OF THIS SUBDIVISION, SUCH DEFERRED
 VESTED BENEFIT SHALL VEST AUTOMATICALLY.
   (II) IN THE CASE OF A PARTICIPANT WHO IS NOT A NEW YORK  CITY  REVISED
 PLAN  MEMBER,  SUCH  VESTED BENEFIT SHALL BECOME PAYABLE ON THE EARLIEST
 DATE ON WHICH SUCH DISCONTINUED MEMBER COULD HAVE RETIRED FOR SERVICE IF
 SUCH DISCONTINUANCE HAD NOT OCCURRED OR, IN THE CASE  OF  A  PARTICIPANT
 WHO  IS  A  NEW YORK CITY REVISED PLAN MEMBER, SUCH VESTED BENEFIT SHALL
 BECOME PAYABLE AT AGE SIXTY-THREE. SUBJECT TO THE  PROVISIONS  OF  PARA-
 GRAPH SEVEN OF SUBDIVISION E OF THIS SECTION, SUCH DEFERRED VESTED BENE-
 FIT SHALL BE A RETIREMENT ALLOWANCE CONSISTING OF AN AMOUNT EQUAL TO TWO
 PERCENT  OF  SUCH DISCONTINUED MEMBER'S FINAL AVERAGE SALARY, MULTIPLIED
 BY THE NUMBER OF YEARS OF ALLOWABLE SERVICE.
   E. ADDITIONAL MEMBER CONTRIBUTIONS.  1.  IN  ADDITION  TO  THE  MEMBER
 CONTRIBUTIONS  REQUIRED BY SECTION SIX HUNDRED THIRTEEN OF THIS ARTICLE,
 EACH PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  SHALL
 CONTRIBUTE  TO  THE  RETIREMENT  SYSTEM  OF  WHICH HE OR SHE IS A MEMBER
 (SUBJECT TO THE APPLICABLE PROVISIONS OF SUBDIVISION D  OF  SECTION  SIX
 HUNDRED  THIRTEEN  OF  THIS ARTICLE) AN ADDITIONAL SIX PERCENT OF HIS OR
 HER COMPENSATION EARNED FROM (I) ALL ALLOWABLE SERVICE, AS A PARTICIPANT
 IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM, RENDERED  ON  OR  AFTER  THE
 STARTING  DATE  OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM, AND (II) ALL
 ALLOWABLE SERVICE AFTER SUCH PERSON CEASES  TO  BE  A  PARTICIPANT,  BUT
 BEFORE  HE  OR SHE AGAIN BECOMES A PARTICIPANT PURSUANT TO PARAGRAPH SIX

 S. 6102--A                         15
 
 OF SUBDIVISION B OF THIS SECTION. THE ADDITIONAL CONTRIBUTIONS  REQUIRED
 BY  THIS  SECTION  SHALL  BE  IN LIEU OF ADDITIONAL MEMBER CONTRIBUTIONS
 REQUIRED BY SUBDIVISION D OF SECTION SIX HUNDRED FOUR-C OF THIS  CHAPTER
 AS  ADDED  BY CHAPTER NINETY-SIX OF THE LAWS OF NINETEEN HUNDRED NINETY-
 FIVE, AND NO MEMBER MAKING ADDITIONAL  CONTRIBUTIONS  PURSUANT  TO  THIS
 SECTION  SHALL BE REQUIRED TO MAKE CONTRIBUTIONS PURSUANT TO SUCH SUBDI-
 VISION D OF SECTION SIX HUNDRED FOUR-C OF THIS CHAPTER.
   2. A PARTICIPANT IN THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  SHALL
 CONTRIBUTE  ADDITIONAL  MEMBER  CONTRIBUTIONS UNTIL THE LATER OF (I) THE
 FIRST ANNIVERSARY OF THE STARTING DATE OF THE TWENTY-FIVE  YEAR  RETIRE-
 MENT PROGRAM, OR (II) THE DATE ON WHICH HE OR SHE COMPLETES THIRTY YEARS
 OF ALLOWABLE SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER.
   3.  COMMENCING  WITH  THE  FIRST FULL PAYROLL PERIOD AFTER EACH PERSON
 BECOMES A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM,  ADDI-
 TIONAL  MEMBER  CONTRIBUTIONS  AT THE RATE SPECIFIED IN PARAGRAPH ONE OF
 THIS SUBDIVISION SHALL BE DEDUCTED (SUBJECT TO THE APPLICABLE PROVISIONS
 OF SUBDIVISION D OF SECTION SIX HUNDRED THIRTEEN OF THIS  ARTICLE)  FROM
 THE  COMPENSATION  OF SUCH PARTICIPANT ON EACH AND EVERY PAYROLL OF SUCH
 PARTICIPANT FOR EACH AND EVERY PAYROLL PERIOD FOR WHICH  HE  OR  SHE  IS
 SUCH A PARTICIPANT.
   4.  (I)  EACH  PARTICIPANT  IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM
 SHALL BE CHARGED WITH A CONTRIBUTION DEFICIENCY CONSISTING OF THE  TOTAL
 AMOUNTS  OF  ADDITIONAL  MEMBER CONTRIBUTIONS SUCH PERSON IS REQUIRED TO
 MAKE PURSUANT TO PARAGRAPHS ONE AND TWO OF THIS  SUBDIVISION  WHICH  ARE
 NOT DEDUCTED FROM HIS OR HER COMPENSATION PURSUANT TO PARAGRAPH THREE OF
 THIS  SUBDIVISION,  IF  ANY,  TOGETHER WITH INTEREST THEREON, COMPOUNDED
 ANNUALLY, AND COMPUTED IN ACCORDANCE WITH  THE  PROVISIONS  OF  SUBPARA-
 GRAPHS (II) AND (III) OF THIS PARAGRAPH.
   (II)(A) THE INTEREST REQUIRED TO BE PAID ON EACH SUCH AMOUNT SPECIFIED
 IN  SUBPARAGRAPH  (I) OF THIS PARAGRAPH SHALL ACCRUE FROM THE END OF THE
 PAYROLL PERIOD FOR WHICH SUCH  AMOUNT  WOULD  HAVE  BEEN  DEDUCTED  FROM
 COMPENSATION  IF  HE  OR  SHE HAD BEEN A PARTICIPANT AT THE BEGINNING OF
 THAT PAYROLL PERIOD AND  SUCH  DEDUCTION  HAD  BEEN  REQUIRED  FOR  SUCH
 PAYROLL PERIOD, UNTIL SUCH AMOUNT IS PAID TO THE RETIREMENT SYSTEM.
   (B)  THE RATE OF INTEREST TO BE APPLIED TO EACH SUCH AMOUNT DURING THE
 PERIOD FOR WHICH INTEREST ACCRUES ON THAT AMOUNT SHALL BE EQUAL  TO  THE
 RATE  OR  RATES  OF INTEREST REQUIRED BY LAW TO BE USED DURING THAT SAME
 PERIOD TO CREDIT INTEREST ON THE ACCUMULATED  DEDUCTIONS  OF  RETIREMENT
 SYSTEM MEMBERS.
   (III)  EXCEPT AS OTHERWISE PROVIDED IN PARAGRAPH FIVE OF THIS SUBDIVI-
 SION, NO INTEREST SHALL BE DUE ON ANY UNPAID ADDITIONAL MEMBER  CONTRIB-
 UTIONS  WHICH  ARE  NOT ATTRIBUTABLE TO A PERIOD PRIOR TO THE FIRST FULL
 PAYROLL PERIOD REFERRED TO IN PARAGRAPH THREE OF THIS SUBDIVISION.
   5. (I) SHOULD ANY PERSON WHO, PURSUANT TO SUBPARAGRAPH (II)  OF  PARA-
 GRAPH TEN OF THIS SUBDIVISION, HAS RECEIVED A REFUND OF HIS OR HER ADDI-
 TIONAL  MEMBER CONTRIBUTION INCLUDING ANY INTEREST PAID ON SUCH CONTRIB-
 UTIONS, AGAIN BECOME A PARTICIPANT IN THE  TWENTY-FIVE  YEAR  RETIREMENT
 PROGRAM  PURSUANT  TO PARAGRAPH SIX OF SUBDIVISION B OF THIS SECTION, AN
 APPROPRIATE AMOUNT SHALL BE INCLUDED IN SUCH PARTICIPANT'S  CONTRIBUTION
 DEFICIENCY (INCLUDING INTEREST THEREON AS CALCULATED PURSUANT TO SUBPAR-
 AGRAPH  (II) OF THIS PARAGRAPH) FOR ANY ALLOWABLE SERVICE FOR WHICH SUCH
 PERSON  RECEIVED  A  REFUND  OF  SUCH  ADDITIONAL  MEMBER  CONTRIBUTIONS
 (INCLUDING  ANY  AMOUNT  OF  AN  UNPAID LOAN BALANCE DEEMED TO HAVE BEEN
 RETURNED TO SUCH PERSON PURSUANT TO PARAGRAPH TWELVE  OF  THIS  SUBDIVI-
 SION), AS IF SUCH ADDITIONAL MEMBER CONTRIBUTIONS NEVER HAD BEEN PAID.

 S. 6102--A                         16
 
   (II)  (A)  INTEREST ON A PARTICIPANT'S ADDITIONAL MEMBER CONTRIBUTIONS
 INCLUDED IN  SUCH  PARTICIPANT'S  CONTRIBUTION  DEFICIENCY  PURSUANT  TO
 SUBPARAGRAPH  (I) OF THIS PARAGRAPH SHALL BE CALCULATED AS IF SUCH ADDI-
 TIONAL MEMBER CONTRIBUTIONS HAD NEVER BEEN PAID BY SUCH PARTICIPANT, AND
 SUCH  INTEREST  SHALL ACCRUE FROM THE END OF THE PAYROLL PERIOD TO WHICH
 AN AMOUNT OF SUCH ADDITIONAL MEMBER CONTRIBUTIONS IS ATTRIBUTABLE, UNTIL
 SUCH AMOUNT IS PAID TO THE RETIREMENT SYSTEM.
   (B) THE RATE OF INTEREST TO BE APPLIED TO EACH SUCH AMOUNT DURING  THE
 PERIOD  FOR  WHICH INTEREST ACCRUES ON THAT AMOUNT SHALL BE FIVE PERCENT
 PER ANNUM, COMPOUNDED ANNUALLY.
   6.  WHERE A PARTICIPANT WHO IS OTHERWISE ELIGIBLE FOR SERVICE  RETIRE-
 MENT  PURSUANT  TO  SUBDIVISION  C OF THIS SECTION DID NOT, PRIOR TO THE
 EFFECTIVE DATE OF RETIREMENT, PAY THE ENTIRE AMOUNT  OF  A  CONTRIBUTION
 DEFICIENCY CHARGEABLE TO HIM OR HER PURSUANT TO PARAGRAPHS FOUR AND FIVE
 OF  THIS SUBDIVISION, OR REPAY THE ENTIRE AMOUNT OF A LOAN OF HIS OR HER
 ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO  PARAGRAPH  ELEVEN  OF  THIS
 SUBDIVISION (INCLUDING ACCRUED INTEREST ON SUCH LOAN), THAT PARTICIPANT,
 NEVERTHELESS,  SHALL  BE ELIGIBLE TO RETIRE PURSUANT TO SUBDIVISION C OF
 THIS SECTION, PROVIDED, HOWEVER, THAT SUCH PARTICIPANT'S SERVICE RETIRE-
 MENT BENEFIT CALCULATED PURSUANT TO PARAGRAPH TWO OF SUCH SUBDIVISION  C
 SHALL  BE  REDUCED  BY A LIFE ANNUITY (CALCULATED IN ACCORDANCE WITH THE
 METHOD SET FORTH IN SUBDIVISION I OF SECTION SIX HUNDRED  THIRTEEN-B  OF
 THIS ARTICLE) WHICH IS ACTUARIALLY EQUIVALENT TO:
   (I)  THE  AMOUNT  OF  ANY UNPAID CONTRIBUTION DEFICIENCY CHARGEABLE TO
 SUCH MEMBER PURSUANT TO PARAGRAPHS FOUR AND FIVE  OF  THIS  SUBDIVISION;
 PLUS
   (II)  THE  AMOUNT  OF ANY UNPAID BALANCE OF A LOAN OF HIS OR HER ADDI-
 TIONAL MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH ELEVEN OF THIS  SUBDI-
 VISION (INCLUDING ACCRUED INTEREST ON SUCH LOAN).
   7. WHERE A PARTICIPANT WHO IS OTHERWISE ELIGIBLE FOR A VESTED RIGHT TO
 A  DEFERRED  BENEFIT  PURSUANT TO SUBDIVISION D OF THIS SECTION DID NOT,
 PRIOR TO THE DATE OF DISCONTINUANCE OF SERVICE, PAY THE ENTIRE AMOUNT OF
 A CONTRIBUTION DEFICIENCY CHARGEABLE TO HIM OR  HER  PURSUANT  TO  PARA-
 GRAPHS  FOUR AND FIVE OF THIS SUBDIVISION, OR REPAY THE ENTIRE AMOUNT OF
 A LOAN OF HIS OR HER ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT  TO  PARA-
 GRAPH  ELEVEN  OF  THIS  SUBDIVISION (INCLUDING ACCRUED INTEREST ON SUCH
 LOAN), THAT PARTICIPANT, NEVERTHELESS, SHALL HAVE A VESTED  RIGHT  TO  A
 DEFERRED  BENEFIT  PURSUANT  TO  SUBDIVISION D OF THIS SECTION PROVIDED,
 HOWEVER, THAT THE DEFERRED VESTED BENEFIT CALCULATED PURSUANT  TO  PARA-
 GRAPH  THREE OF SUBDIVISION D SHALL BE REDUCED BY A LIFE ANNUITY (CALCU-
 LATED IN ACCORDANCE WITH THE  METHOD  SET  FORTH  IN  SUBDIVISION  I  OF
 SECTION  SIX  HUNDRED  THIRTEEN-B  OF THIS ARTICLE) WHICH IS ACTUARIALLY
 EQUIVALENT TO:
   (I) THE AMOUNT OF ANY UNPAID CONTRIBUTION CHARGEABLE  TO  SUCH  MEMBER
 PURSUANT TO PARAGRAPHS FOUR AND FIVE OF THIS SUBDIVISION; PLUS
   (II)  THE  AMOUNT  OF ANY UNPAID BALANCE OF A LOAN OF HIS OR HER ADDI-
 TIONAL MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH ELEVEN OF THIS  SUBDI-
 VISION (INCLUDING ACCRUED INTEREST ON SUCH A LOAN).
   8.  THE HEAD OF A RETIREMENT SYSTEM WHICH INCLUDES PARTICIPANTS IN THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM IN ITS  MEMBERSHIP  MAY,  CONSISTENT
 WITH  THE PROVISIONS OF THIS SUBDIVISION, PROMULGATE REGULATIONS FOR THE
 PAYMENT OF SUCH ADDITIONAL MEMBER CONTRIBUTIONS, AND ANY INTEREST THERE-
 ON, BY SUCH PARTICIPANTS (INCLUDING THE DEDUCTION OF SUCH CONTRIBUTIONS,
 AND ANY INTEREST THEREON, FROM THE PARTICIPANT'S COMPENSATION).
   9. SUBJECT TO THE PROVISIONS OF  PARAGRAPHS  SIX  AND  SEVEN  OF  THIS
 SUBDIVISION,  WHERE  A PARTICIPANT HAS NOT PAID IN FULL ANY CONTRIBUTION

 S. 6102--A                         17
 
 DEFICIENCY CHARGEABLE TO HIM OR HER PURSUANT TO PARAGRAPHS FOUR AND FIVE
 OF THIS SUBDIVISION, AND A  BENEFIT,  OTHER  THAN  A  REFUND  OF  MEMBER
 CONTRIBUTIONS  PURSUANT  TO SECTION SIX HUNDRED THIRTEEN OF THIS ARTICLE
 OR  A REFUND OF ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO SUBPARAGRAPH
 (II) OF PARAGRAPH TEN OF THIS SUBDIVISION, BECOMES  PAYABLE  UNDER  THIS
 ARTICLE  TO  THE  PARTICIPANT OR TO HIS OR HER DESIGNATED BENEFICIARY OR
 ESTATE, THE ACTUARIAL EQUIVALENT OF ANY  SUCH  UNPAID  AMOUNT  SHALL  BE
 DEDUCTED FROM THE BENEFIT OTHERWISE PAYABLE.
   10.  (I) SUCH ADDITIONAL MEMBER CONTRIBUTIONS (AND ANY INTEREST THERE-
 ON) SHALL BE PAID INTO THE CONTINGENT RESERVE  FUND  OF  THE  RETIREMENT
 SYSTEM  OF  WHICH  THE  PARTICIPANT  IS  A  MEMBER AND SHALL NOT FOR ANY
 PURPOSE BE DEEMED TO BE MEMBER  CONTRIBUTIONS  OR  ACCUMULATED  CONTRIB-
 UTIONS OF A MEMBER UNDER SECTION SIX HUNDRED THIRTEEN OF THIS ARTICLE OR
 OTHERWISE  WHILE  HE  OR  SHE  IS  A PARTICIPANT IN THE TWENTY-FIVE YEAR
 RETIREMENT PROGRAM OR OTHERWISE.
   (II) SHOULD A PARTICIPANT IN THE TWENTY-FIVE YEAR  RETIREMENT  PROGRAM
 WHO  HAS  RENDERED  LESS THAN FIFTEEN YEARS OF CREDITED SERVICE CEASE TO
 HOLD A POSITION AS A FIRE PROTECTION INSPECTOR  MEMBER  FOR  ANY  REASON
 WHATSOEVER,  HIS OR HER ACCUMULATED ADDITIONAL MEMBER CONTRIBUTIONS MADE
 PURSUANT TO THIS SUBDIVISION (TOGETHER WITH ANY INTEREST THEREON PAID TO
 THE RETIREMENT SYSTEM) MAY BE WITHDRAWN BY HIM OR HER PURSUANT TO PROCE-
 DURES PROMULGATED IN REGULATIONS OF THE BOARD OF TRUSTEES OF THE RETIRE-
 MENT SYSTEM, TOGETHER WITH INTEREST THEREON AT THE RATE OF FIVE  PERCENT
 PER ANNUM, COMPOUNDED ANNUALLY.
   (III)  NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, (A)
 NO PERSON SHALL BE PERMITTED TO WITHDRAW FROM THE RETIREMENT SYSTEM  ANY
 ADDITIONAL MEMBER CONTRIBUTIONS PAID PURSUANT TO THIS SUBDIVISION OR ANY
 INTEREST  PAID  THEREON,  EXCEPT  PURSUANT TO AND IN ACCORDANCE WITH THE
 PRECEDING SUBPARAGRAPHS OF THIS PARAGRAPH; AND (B) NO PERSON,  WHILE  HE
 OR  SHE  IS  A  PARTICIPANT  IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM,
 SHALL BE PERMITTED TO WITHDRAW ANY SUCH ADDITIONAL MEMBER  CONTRIBUTIONS
 OR  ANY  INTEREST PAID THEREON PURSUANT TO ANY OF THE PRECEDING SUBPARA-
 GRAPHS OF THIS PARAGRAPH OR OTHERWISE.
   11. A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM SHALL  BE
 PERMITTED  TO  BORROW  FROM  HIS  OR HER ADDITIONAL MEMBER CONTRIBUTIONS
 (INCLUDING ANY INTEREST PAID THEREON) WHICH ARE CREDITED  TO  THE  ADDI-
 TIONAL  CONTRIBUTIONS  ACCOUNT  ESTABLISHED  FOR SUCH PARTICIPANT IN THE
 CONTINGENT RESERVE FUND OF THE RETIREMENT  SYSTEM.  THE  BORROWING  FROM
 SUCH ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO THIS PARAGRAPH SHALL BE
 GOVERNED BY THE RIGHTS, PRIVILEGES, OBLIGATIONS AND PROCEDURES SET FORTH
 IN  SECTION  SIX  HUNDRED  THIRTEEN-B  OF  THIS ARTICLE WHICH GOVERN THE
 BORROWING OF MEMBER CONTRIBUTIONS MADE PURSUANT TO SECTION  SIX  HUNDRED
 THIRTEEN OF THIS ARTICLE. THE BOARD OF TRUSTEES OF THE RETIREMENT SYSTEM
 MAY,  CONSISTENT  WITH  THE  PROVISIONS  OF  THIS  SUBDIVISION  AND  THE
 PROVISIONS OF SECTION SIX HUNDRED THIRTEEN-B OF  THIS  ARTICLE  AS  MADE
 APPLICABLE  TO  THIS  SUBDIVISION,  PROMULGATE REGULATIONS GOVERNING THE
 BORROWING OF SUCH ADDITIONAL MEMBER CONTRIBUTIONS.
   12. WHENEVER A PERSON HAS AN UNPAID BALANCE OF A LOAN OR  HIS  OR  HER
 ADDITIONAL  MEMBER  CONTRIBUTIONS  PURSUANT  TO PARAGRAPH ELEVEN OF THIS
 SUBDIVISION AT THE TIME HE OR SHE BECOMES ENTITLED TO A REFUND OF HIS OR
 HER ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT  TO  SUBPARAGRAPH  (II)  OF
 PARAGRAPH  TEN  OF  THIS  SUBDIVISION,  THE  AMOUNT  OF SUCH UNPAID LOAN
 BALANCE (INCLUDING ACCRUED  INTEREST)  SHALL  BE  DEEMED  TO  HAVE  BEEN
 RETURNED TO SUCH MEMBER, AND THE REFUND OF SUCH ADDITIONAL CONTRIBUTIONS
 SHALL  BE  THE  NET  AMOUNT OF SUCH CONTRIBUTION, TOGETHER WITH INTEREST
 THEREON IN ACCORDANCE WITH THE PROVISIONS OF SUCH SUBPARAGRAPH (II).

 S. 6102--A                         18
 
   § 6. Subdivision d of section 613 of the retirement and social securi-
 ty law is amended by adding a new paragraph 12 to read as follows:
   12.  (I)  THE CITY OF NEW YORK SHALL, IN THE CASE OF A FIRE PROTECTION
 INSPECTOR MEMBER (AS DEFINED  IN  PARAGRAPH  ONE  OF  SUBDIVISION  A  OF
 SECTION  SIX HUNDRED FOUR-J OF THIS ARTICLE) WHO IS A PARTICIPANT IN THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM (AS DEFINED  IN  PARAGRAPH  FOUR  OF
 SUBDIVISION  A  OF  SUCH SECTION SIX HUNDRED FOUR-J), PICK UP AND PAY TO
 THE RETIREMENT SYSTEM OF WHICH SUCH PARTICIPANT IS A  MEMBER  ALL  ADDI-
 TIONAL  MEMBER  CONTRIBUTIONS  WHICH  OTHERWISE  WOULD BE REQUIRED TO BE
 DEDUCTED FROM SUCH MEMBER'S COMPENSATION PURSUANT TO PARAGRAPHS ONE  AND
 TWO  OF  SUBDIVISION E OF SUCH SECTION SIX HUNDRED FOUR-J (NOT INCLUDING
 ANY ADDITIONAL MEMBER CONTRIBUTIONS DUE FOR  ANY  PERIOD  PRIOR  TO  THE
 FIRST  FULL PAYROLL PERIOD REFERRED TO IN PARAGRAPH THREE OF SUCH SUBDI-
 VISION E), AND SHALL EFFECT SUCH PICK UP IN EACH AND  EVERY  PAYROLL  OF
 SUCH PARTICIPANT FOR EACH AND EVERY PAYROLL PERIOD WITH RESPECT TO WHICH
 SUCH PARAGRAPH THREE WOULD OTHERWISE REQUIRE SUCH DEDUCTIONS.
   (II)  AN AMOUNT EQUAL TO THE AMOUNT OF ADDITIONAL CONTRIBUTIONS PICKED
 UP PURSUANT TO THIS PARAGRAPH SHALL BE DEDUCTED BY  SUCH  EMPLOYER  FROM
 THE  COMPENSATION  OF  SUCH MEMBER (AS SUCH COMPENSATION WOULD BE IN THE
 ABSENCE OF A PICK UP PROGRAM APPLICABLE TO HIM OR HER) AND SHALL NOT  BE
 PAID TO SUCH MEMBER.
   (III)  THE  ADDITIONAL MEMBER CONTRIBUTIONS PICKED UP PURSUANT TO THIS
 PARAGRAPH FOR ANY SUCH MEMBER SHALL BE PAID BY SUCH EMPLOYER IN LIEU  OF
 AN EQUAL AMOUNT OF ADDITIONAL MEMBER CONTRIBUTIONS OTHERWISE REQUIRED TO
 BE  PAID BY SUCH MEMBER UNDER THE APPLICABLE PROVISIONS OF SUBDIVISION E
 OF SECTION SIX HUNDRED FOUR-J OF THIS ARTICLE, AND SHALL BE DEEMED TO BE
 AND TREATED AS EMPLOYER CONTRIBUTIONS PURSUANT TO SECTION 414(H) OF  THE
 INTERNAL REVENUE CODE.
   (IV)  FOR  THE  PURPOSE  OF  DETERMINING THE RETIREMENT SYSTEM RIGHTS,
 BENEFITS AND PRIVILEGES OF ANY MEMBER WHOSE ADDITIONAL  MEMBER  CONTRIB-
 UTIONS  ARE  PICKED  UP PURSUANT TO THIS PARAGRAPH, SUCH PICKED UP ADDI-
 TIONAL MEMBER CONTRIBUTIONS SHALL BE DEEMED TO BE AND TREATED AS PART OF
 SUCH MEMBER'S  ADDITIONAL  MEMBER  CONTRIBUTIONS  UNDER  THE  APPLICABLE
 PROVISIONS  OF SUBDIVISION E OF SECTION SIX HUNDRED FOUR-J OF THIS ARTI-
 CLE.
   (V) WITH THE EXCEPTION OF FEDERAL INCOME TAX TREATMENT, THE ADDITIONAL
 MEMBER CONTRIBUTIONS PICKED UP PURSUANT  TO  SUBPARAGRAPH  (I)  OF  THIS
 PARAGRAPH SHALL FOR ALL OTHER PURPOSES, INCLUDING COMPUTATION OF RETIRE-
 MENT  BENEFITS  AND  CONTRIBUTIONS BY EMPLOYERS AND EMPLOYEES, BE DEEMED
 EMPLOYEE  SALARY.  NOTHING  CONTAINED  IN  THIS  SUBDIVISION  SHALL   BE
 CONSTRUED  AS SUPERSEDING THE PROVISIONS OF SECTION FOUR HUNDRED THIRTY-
 ONE OF THIS CHAPTER, OR ANY SIMILAR PROVISION OF LAW  WHICH  LIMITS  THE
 SALARY  BASE  FOR  COMPUTING  RETIREMENT  BENEFITS  PAYABLE  BY A PUBLIC
 RETIREMENT SYSTEM.
   § 7. Section 13-125.2 of the administrative code of the  city  of  New
 York is amended by adding a new subdivision a-9 to read as follows:
   A-9. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, ON OR
 AFTER  THE  STARTING DATE FOR PICK UP, THE EMPLOYER RESPONSIBLE FOR PICK
 UP SHALL, IN THE CASE OF A FIRE PROTECTION INSPECTOR MEMBER (AS  DEFINED
 IN  PARAGRAPH  TWO OF SUBDIVISION A OF SECTION FOUR HUNDRED FORTY-FIVE-J
 OF THE RETIREMENT AND SOCIAL SECURITY LAW) WHO IS A PARTICIPANT  IN  THE
 TWENTY-FIVE  YEAR  IMPROVED  BENEFIT  RETIREMENT  PROGRAM (AS DEFINED IN
 PARAGRAPH THREE OF SUCH SUBDIVISION A), PICK UP AND  PAY  TO  RETIREMENT
 SYSTEM  ALL  ADDITIONAL  MEMBER  CONTRIBUTIONS  WHICH OTHERWISE WOULD BE
 REQUIRED TO BE DEDUCTED FROM  SUCH  MEMBER'S  COMPENSATION  PURSUANT  TO
 SUBDIVISION  D  OF  SUCH  SECTION  FOUR  HUNDRED FORTY-FIVE-J, AND SHALL

 S. 6102--A                         19
 
 EFFECT SUCH PICK UP ON EACH AND EVERY PAYROLL OF  SUCH  PARTICIPANT  FOR
 EACH  AND  EVERY PAYROLL PERIOD WITH RESPECT TO WHICH SUCH SUBDIVISION D
 WOULD OTHERWISE REQUIRE SUCH DEDUCTIONS.
   §  8.  Subparagraph  (ii)  of  paragraph 1 of subdivision c of section
 13-125.2 of the administrative code of the city of New York, as  amended
 by chapter 682 of the laws of 2003, is amended to read as follows:
   (ii)  the  determination of the amount of such member's Tier I or Tier
 II nonuniformed-force member contributions eligible for pick up  by  the
 employer  or  additional  member  contributions required to be picked up
 pursuant to subdivision a-one, subdivision a-two,  subdivision  a-three,
 subdivision  a-four,  subdivision a-five, subdivision a-six, subdivision
 a-seven [or], subdivision a-eight OR SUBDIVISION A-NINE of this section;
 and
   § 9. Subdivision d of section 13-125.2 of the administrative  code  of
 the city of New York is amended by adding a new paragraph 2-h to read as
 follows:
   (2-H)  FOR  THE  PURPOSE  OF DETERMINING THE RETIREMENT SYSTEM RIGHTS,
 BENEFITS AND PRIVILEGES OF ANY MEMBER WHO IS A PARTICIPANT IN THE  TWEN-
 TY-FIVE YEAR RETIREMENT PROGRAM (AS DEFINED IN PARAGRAPH TWO OF SUBDIVI-
 SION  A  OF  SECTION  13-157.5  OF  THIS CHAPTER), THE ADDITIONAL MEMBER
 CONTRIBUTIONS OF SUCH PARTICIPANT  PICKED  UP  PURSUANT  TO  SUBDIVISION
 A-NINE  OF  THIS  SECTION SHALL BE DEEMED TO BE AND TREATED AS A PART OF
 SUCH MEMBER'S ADDITIONAL  CONTRIBUTIONS  UNDER  SUBDIVISION  E  OF  SUCH
 SECTION 13-157.5.
   § 10. Paragraph 3 of subdivision d of section 13-125.2 of the adminis-
 trative  code  of the city of New York, as amended by chapter 682 of the
 laws of 2003, is amended to read as follows:
   (3) Interest on contributions picked up for any  Tier  I  or  Tier  II
 non-uniformed-force  member  pursuant  to this section (other than addi-
 tional member contributions picked up  pursuant  to  subdivision  a-one,
 subdivision  a-two, subdivision a-three, subdivision a-four, subdivision
 a-five, subdivision a-six, subdivision a-seven [or], subdivision a-eight
 OR SUBDIVISION A-NINE of this section) shall  accrue  in  favor  of  the
 member and be payable to the retirement system at the same rate, for the
 same  time  periods, in the same manner and under the same circumstances
 as interest would be required to accrue in favor of the  member  and  be
 payable to the retirement system on such contributions if they were made
 by  such  member  in the absence of a pick up program applicable to such
 member under the provisions of this section.
   § 11. Subdivision a of section 603 of the retirement and social  secu-
 rity  law,  as  amended by chapter 18 of the laws of 2012, is amended to
 read as follows:
   a. The service retirement benefit specified  in  section  six  hundred
 four  of this article shall be payable to members who have met the mini-
 mum service requirements upon retirement and attainment  of  age  sixty-
 two,  other  than  members who are eligible for early service retirement
 pursuant to subdivision c of section six hundred four-b of this article,
 subdivision c of section six hundred four-c of this article, subdivision
 d of section six hundred  four-d  of  this  article,  subdivision  c  of
 section six hundred four-e of this article, subdivision c of section six
 hundred  four-f  of  this  article, subdivision c of section six hundred
 four-g of this article, subdivision c of section six hundred  four-h  of
 this  article  [or], subdivision c of section six hundred four-i of this
 article, OR SUBDIVISION C OF SECTION SIX HUNDRED FOUR-J OF THIS  ARTICLE
 provided,  however, a member of a teachers' retirement system or the New
 York state and local employees' retirement system who first  joins  such

 S. 6102--A                         20
 
 system  before  January  first,  two  thousand  ten or a member who is a
 uniformed court officer or peace officer employed by the  unified  court
 system  who  first  becomes  a  member  of  the New York state and local
 employees' retirement system before April first, two thousand twelve may
 retire  without  reduction of his or her retirement benefit upon attain-
 ment of at least fifty-five years of age and  completion  of  thirty  or
 more years of service, provided, however, that a uniformed court officer
 or  peace officer employed by the unified court system who first becomes
 a member of the New York state and local employees' retirement system on
 or after January first, two thousand ten and retires  without  reduction
 of  his or her retirement benefit upon attainment of at least fifty-five
 years of age and completion of thirty or more years of service  pursuant
 to  this  section  shall  be  required  to make the member contributions
 required by subdivision f of section six hundred thirteen of this  arti-
 cle  for  all years of credited and creditable service, provided further
 that the the preceding provisions of this subdivision shall not apply to
 a New York city revised plan member.
   § 12. Nothing contained in sections six and eleven of this  act  shall
 be  construed to create any contractual right with respect to members to
 whom such sections apply. The provisions of such sections  are  intended
 to  afford  members  the advantages of certain benefits contained in the
 internal revenue code, and  the  effectiveness  and  existence  of  such
 sections and benefits they confer are completely contingent thereon.
   § 13. This act shall take effect immediately, provided, however that:
   (a)  the  amendments to subdivision a of section 603 of the retirement
 and social security law made by section eleven of  this  act  shall  not
 affect  the expiration of such subdivision and shall be deemed to expire
 therewith;
   (b) the provisions of section six of this act shall  remain  in  force
 and  effect  only  so  long  as,  pursuant to federal law, contributions
 picked up under such section are not includable as  gross  income  of  a
 member  for federal income tax purposes until distributed or made avail-
 able to the member; and
   (c) the amendments to section 13-125.2 of the administrative  code  of
 the city of New York made by sections seven, eight, nine and ten of this
 act  shall  not affect the expiration of such provisions as provided for
 in section 16 of chapter 681 of the laws of 1992, as amended.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   PROVISIONS OF PROPOSED LEGISLATION: This  proposed  legislation  would
 amend  Administrative  Code  of  the  City  of  New  York (ACNY) Section
 13-125.2 and Retirement and Social Security  Law  (RSSL)  Sections  444,
 445,  603 and 613, and add ACNY Section 13-157.5 and RSSL Sections 445-j
 and 604-j to establish a 25-Year Retirement Program for Fire  Protection
 Inspectors (FPI 25-Year Plan) for each tier.
   The  Effective  Date of the proposed legislation is the date of enact-
 ment.
   MEMBERS ELIGIBLE TO JOIN: Those members whose duties are  one  of  the
 following are eligible to participate in the FPI 25-Year Plan:
   * Fire Protection Inspector
   * Associate Fire Protection Inspector
   *  Supervisor of employees whose duties are those of a fire protection
 inspector, and
   * Supervisor of employees whose duties are those of an associate  fire
 protection inspector.
   For  purposes  of  this  Fiscal  Note,  these members are collectively
 referred to as "Fire Inspectors."

 S. 6102--A                         21
 
   Participation in the FPI 25-Year Plan is optional for  anyone  who  is
 eligible  to  participate in the plan on the date of enactment by filing
 an election form within 180 days of enactment. Anyone who is a member of
 the New York City Employees' Retirement System (NYCERS) on the  date  of
 enactment  and subsequently becomes employed as a Fire Inspector has 180
 days to elect to join the FPI 25-Year Plan.
   Any Fire Inspector who becomes a Tier 6 NYCERS member after  the  date
 of  enactment  is mandated into the plan. However, if the member exceeds
 age 25 upon being mandated into the FPI 25-Year Plan, the member has the
 option not to participate.
   IMPACT OF BENEFITS: Currently, Fire Inspectors  generally  participate
 in one of the NYCERS general plans (basic Tier 4 62/5 Plan, Tier 6 63/10
 Plan  or  Improved  Tier 4 57/5, 55/25 Plans). (Note that since there is
 only one Tier 2 Fire Inspector remaining, the following summary  of  the
 FPI 25-Year Plan is for Tier 4 and Tier 6 members only).
   The  proposed legislation would provide the following benefits to Fire
 Inspectors under the FPI 25-Year Plan:
   * Service retirement benefit: Upon attaining 25 years  of  service,  a
 benefit  equal  to  50%  of  Final Average Salary (FAS) for the first 25
 years of Allowable Service plus 2% of FAS for each  additional  year  of
 Allowable Service up to a maximum of 30 years of such service.
   *  Final  Average Salary: Three Year Average (FAS3) for Tier 4 members
 and Five Year Average (FAS5) for Tier 6 members.
   * Vested benefit:
   * Eligibility is:
   * At least five, but less than 25, years of allowable service for Tier
 4, and
   * At least 10, but less than 25, years of allowable service  for  Tier
 6.
   * Payable at:
   *  The  date  the  member  would  have completed 25 years of allowable
 service for Tier 4, and
   * Age 63 for Tier 6.
   * Amount:
   * 2% of FAS for each year of allowable service.
   * Other benefits: Members of the proposed FPI 25-Year Plan  are  enti-
 tled  to the same disability and death benefits as other Tier 4 and Tier
 6 members under the respective basic plans.
   ADDITIONAL MEMBER CONTRIBUTIONS: Members of the FPI 25-Year  Plan  are
 required  to  make,  in  addition  to the 3% Basic Member Contributions,
 Additional Member Contributions equal to  6%  of  compensation  for  all
 allowable  service  as a Plan participant on and after the starting date
 of the FPI 25-Year Plan for a maximum of 30 years.
   FINANCIAL IMPACT - ACTUARIAL PRESENT VALUES: With  respect  to  NYCERS
 and  based  on  the anticipated group of members joining the FPI 25-Year
 Plan and the actuarial assumptions and methods described herein, if  the
 proposed  legislation  is  enacted, the Actuarial Present Value (APV) of
 Benefits (APVB) would increase by approximately $1.0 million, consisting
 of APV of member contributions of approximately $0.3 million, and APV of
 future employer contributions of approximately $0.7 million.
   Under the Entry Age  Actuarial  Cost  Method  used  to  determine  the
 employer  contributions  to  NYCERS,  there  would be an increase in the
 Unfunded  Actuarial  Accrued  Liability  (UAAL)  of  approximately  $1.6
 million  offset  by a decrease in the APV of future employer Normal Cost
 of $0.9 million.

 S. 6102--A                         22
 
   FINANCIAL IMPACT - ANNUAL EMPLOYER CONTRIBUTIONS: In  accordance  with
 ACNY  Section  13.638.2(k-2),  the new UAAL estimated to be $1.6 million
 attributable to benefit changes is to be amortized as determined by  the
 Actuary  but  generally  over  the  remaining  working lifetime of those
 impacted  by  the  benefit  changes.  As of June 30, 2016, the remaining
 working lifetime of the Fire Inspectors assumed to join the FPI  25-Year
 Plan is approximately 5 years.
   Based  on  the  actuarial assumptions and methods described below, the
 enactment of this proposed legislation would  increase  annual  employer
 contributions by approximately $385,000 per year.
   The  increase  in  employer  contributions has been estimated assuming
 that the increase in UAAL would be financed  over  a  5-year  period  (4
 payments under One-Year Lag Methodology) using level dollar payments.
   Regarding  the  timing of these increased contributions, if the Effec-
 tive Date of the proposed legislation is on or  before  June  30,  2017,
 then  the increase in employer contributions would first be reflected in
 Fiscal Year 2019.
   OTHER COSTS: Not measured in this Fiscal Note are the following:
   * The initial, additional administrative costs of NYCERS and other New
 York City agencies to implement the proposed legislation.
   * The impact of this  proposed  legislation  on  Other  Postemployment
 Benefit (OPEB) costs.
   CENSUS  DATA:  The  starting  census  data  used  for the calculations
 presented herein is that of the Preliminary June 30, 2016 (Lag) actuari-
 al valuation of NYCERS. Under the One Year Lag Methodology (OYLM),  this
 was used to determine the Preliminary Fiscal Year 2018 employer contrib-
 utions  for members who are eligible for and who could potentially bene-
 fit from this proposed legislation.
   The 29 Fire Inspectors as of June 30, 2016 assumed  to  join  the  FPI
 25-Year  Plan had an average age of approximately 55, average service of
 approximately 26 years and an average salary of approximately $74,800.
   ACTUARIAL ASSUMPTIONS AND METHODS: The  additional  employer  contrib-
 utions  presented  herein  have  been  calculated based on the actuarial
 assumptions and methods in effect for the June 30, 2016 (Lag)  actuarial
 valuations  used  to determine the Preliminary Fiscal Year 2018 employer
 contributions of NYCERS.
   To determine the impact of the elective nature of the proposed  legis-
 lation  a  subgroup of Fire Inspectors was developed on the basis of who
 could potentially benefit actuarially. The net APV  of  future  employer
 costs  (i.e.,  the  APVB less the APV of future member contributions) of
 each member's benefit was determined under their current plan and  under
 the  FPI  25-Year Plan. If the net APV of future employer cost under the
 FPI 25-Year Plan was greater then or equal to the APV of future employer
 cost under the member's current plan, the member was deemed  to  benefit
 actuarially.
   Based  on  this  analysis,  it  was determined that those who have the
 option of joining the FPI Plan upon becoming  a  NYCERS  member  in  the
 future  will  not  actuarially  benefit  in  the  Plan. Therefore, it is
 assumed that these future members who have the  option  of  joining  the
 Plan  will  choose  to not participate in the Plan, and that future Plan
 participation will be limited to those hired at the age of 25 or younger
 because they will be mandated into the Plan. Since it is  expected  that
 very  few,  if  any,  Fire  Inspectors will be hired at the age of 25 or
 younger, the costs presented in this Fiscal Note  are  borne  only  from
 current  NYCERS members who are assumed to benefit from, and thus opt to
 join, the FPI 25-Year Plan.

 S. 6102--A                         23
 
   STATEMENT OF ACTUARIAL OPINION: I, Sherry S. Chan, am the Chief  Actu-
 ary for, and independent of, the New York City Pension Funds and Retire-
 ment Systems. I am a Fellow of the Society of Actuaries, a Fellow of the
 Conference  of Consulting Actuaries and a Member of the American Academy
 of Actuaries. I meet the Qualification Standards of the American Academy
 of Actuaries to render the actuarial opinion contained herein.
   FISCAL  NOTE  IDENTIFICATION:  This  Fiscal Note 2017-24 dated May 31,
 2017, was prepared by the Chief Actuary for the New York City Employees'
 Retirement System. This estimate is intended for  use  only  during  the
 2017 Legislative Session.

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6102--B
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 11, 2017
                                ___________
 
 Introduced  by  Sen.  GOLDEN -- 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 -- recommitted to the Committee on
   Civil Service and Pensions in accordance with Senate Rule 6, sec. 8 --
   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-five year retirement program
   for members of the New York city employees' retirement system employed
   as fire protection inspectors and associate  fire  protection  inspec-
   tors; and to amend the retirement and social security law, in relation
   to  the establishment of twenty-five 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:
 
   Section  1. The administrative code of the city of New York is amended
 by adding a new section 13-157.5 to read as follows:
   § 13-157.5 TWENTY-FIVE YEAR RETIREMENT  PROGRAM  FOR  FIRE  PROTECTION
 INSPECTOR  MEMBERS.  A.  DEFINITIONS. THE FOLLOWING WORDS AND PHRASES AS
 USED IN THIS SECTION SHALL HAVE THE FOLLOWING MEANINGS UNLESS A  DIFFER-
 ENT MEANING IS PLAINLY REQUIRED BY THE CONTEXT.
   1.  "FIRE  PROTECTION  INSPECTOR  MEMBER"  SHALL  MEAN A MEMBER OF THE
 RETIREMENT SYSTEM WHO IS EMPLOYED BY THE CITY OF NEW YORK OR BY THE  NEW
 YORK  CITY  FIRE  DEPARTMENT IN A TITLE WHOSE DUTIES ARE THOSE OF A FIRE
 PROTECTION INSPECTOR OR ASSOCIATE FIRE PROTECTION  INSPECTOR,  OR  IN  A
 TITLE WHOSE DUTIES REQUIRE THE SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE
 THOSE  OF  A  FIRE  PROTECTION  INSPECTOR  OR  ASSOCIATE FIRE PROTECTION
 INSPECTOR.
   2. "TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL MEAN ALL THE TERMS  AND
 CONDITIONS OF THIS SECTION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD05670-05-8

 S. 6102--B                          2
 
   3.  "STARTING  DATE  OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL
 MEAN THE DATE OF ENACTMENT OF THIS SECTION.
   4. "PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL MEAN
 ANY   FIRE   PROTECTION  INSPECTOR  MEMBER  WHO,  UNDER  THE  APPLICABLE
 PROVISIONS OF SUBDIVISION B OF THIS SECTION, IS ENTITLED TO THE  RIGHTS,
 BENEFITS  AND  PRIVILEGES AND IS SUBJECT TO THE OBLIGATIONS OF THE TWEN-
 TY-FIVE YEAR RETIREMENT PROGRAM AS APPLICABLE TO HIM OR HER.
   5. "DISCONTINUED MEMBER" SHALL MEAN A PARTICIPANT IN  THE  TWENTY-FIVE
 YEAR  RETIREMENT  PROGRAM  WHO,  WHILE  HE  OR SHE WAS A FIRE PROTECTION
 INSPECTOR MEMBER, DISCONTINUED SERVICE AS SUCH A MEMBER AND HAS A  RIGHT
 TO  A  DEFERRED  VESTED BENEFIT UNDER THE PROVISIONS OF SUBDIVISION D OF
 THIS SECTION.
   6. "ALLOWABLE SERVICE AS A FIRE  PROTECTION  INSPECTOR  MEMBER"  SHALL
 MEAN  (I)  ALL  SERVICE WHILE EMPLOYED BY THE CITY OF NEW YORK OR BY THE
 NEW YORK CITY FIRE DEPARTMENT IN A TITLE WHOSE DUTIES  ARE  THOSE  OF  A
 FIRE  PROTECTION  INSPECTOR  OR ASSOCIATE FIRE PROTECTION INSPECTOR, AND
 (II) WITH RESPECT TO AN INDIVIDUAL WHO WAS EMPLOYED UPON  THE  EFFECTIVE
 DATE  OF THIS SECTION OR THEREAFTER IN A TITLE WHOSE DUTIES ARE THOSE OF
 A FIRE PROTECTION INSPECTOR OR ASSOCIATE FIRE PROTECTION INSPECTOR,  ALL
 SUCH  SERVICE  SUBSEQUENT  THERETO  IN  A TITLE WHOSE DUTIES REQUIRE THE
 SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE THOSE  OF  A  FIRE  PROTECTION
 INSPECTOR  OR  ASSOCIATE  FIRE PROTECTION INSPECTOR IN THE NEW YORK CITY
 FIRE DEPARTMENT.
   B. PARTICIPATION  IN  THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM.  1.
 SUBJECT  TO  THE  PROVISIONS OF PARAGRAPHS FIVE AND SIX OF THIS SUBDIVI-
 SION, ANY PERSON WHO IS A FIRE PROTECTION INSPECTOR MEMBER ON THE START-
 ING DATE OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM MAY ELECT TO  BECOME
 A  PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR RETIREMENT PROGRAM BY FILING,
 WITHIN ONE HUNDRED EIGHTY DAYS AFTER THE STARTING DATE  OF  THE  TWENTY-
 FIVE  YEAR  RETIREMENT  PROGRAM,  A  DULY  EXECUTED APPLICATION FOR SUCH
 PARTICIPATION WITH THE RETIREMENT SYSTEM  OF  WHICH  SUCH  PERSON  IS  A
 MEMBER, PROVIDED HE OR SHE IS SUCH A FIRE PROTECTION INSPECTOR MEMBER ON
 THE DATE SUCH APPLICATION IS FILED.
   2. SUBJECT TO THE PROVISIONS OF PARAGRAPHS FIVE AND SIX OF THIS SUBDI-
 VISION,  ANY PERSON WHO BECOMES A FIRE PROTECTION INSPECTOR MEMBER AFTER
 THE STARTING DATE OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM  MAY  ELECT
 TO  BECOME  A  PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM BY
 FILING, WITHIN ONE HUNDRED  EIGHTY  DAYS  AFTER  BECOMING  SUCH  A  FIRE
 PROTECTION  INSPECTOR  MEMBER,  A  DULY  EXECUTED  APPLICATION  FOR SUCH
 PARTICIPATION WITH THE RETIREMENT SYSTEM  OF  WHICH  SUCH  PERSON  IS  A
 MEMBER, PROVIDED HE OR SHE IS SUCH A FIRE PROTECTION INSPECTOR MEMBER ON
 THE DATE SUCH APPLICATION IS FILED.
   3. ANY ELECTION TO BE A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT
 PROGRAM SHALL BE IRREVOCABLE.
   4.  WHERE  ANY  PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM
 SHALL CEASE TO BE EMPLOYED AS A FIRE PROTECTION INSPECTOR MEMBER, HE  OR
 SHE SHALL CEASE TO BE SUCH A PARTICIPANT AND, DURING ANY PERIOD IN WHICH
 SUCH  PERSON IS NOT SO EMPLOYED, HE OR SHE SHALL NOT BE A PARTICIPANT IN
 THE TWENTY-FIVE YEAR RETIREMENT PROGRAM AND SHALL NOT  BE  ELIGIBLE  FOR
 THE BENEFITS OF SUBDIVISION C OF THIS SECTION.
   5.  WHERE  ANY  PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM
 TERMINATES SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER AND RETURNS  TO
 SUCH  SERVICE  AS A FIRE PROTECTION INSPECTOR AT A LATER DATE, HE OR SHE
 SHALL AGAIN BECOME SUCH A PARTICIPANT ON THAT DATE.
   6. NOTWITHSTANDING ANY OTHER PROVISION OF LAW  TO  THE  CONTRARY,  ANY
 PERSON  WHO  IS ELIGIBLE TO BECOME A PARTICIPANT IN THE TWENTY-FIVE YEAR

 S. 6102--B                          3
 
 RETIREMENT PROGRAM PURSUANT TO PARAGRAPH ONE OR TWO OF THIS  SUBDIVISION
 FOR THE FULL ONE HUNDRED EIGHTY DAY PERIOD PROVIDED FOR IN SUCH APPLICA-
 BLE  PARAGRAPH  AND WHO FAILS TO TIMELY FILE A DULY EXECUTED APPLICATION
 FOR  SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM, SHALL NOT THEREAFTER
 BE ELIGIBLE TO BECOME A PARTICIPANT IN SUCH PROGRAM.
   C. SERVICE RETIREMENT BENEFITS. 1. A PARTICIPANT  IN  THE  TWENTY-FIVE
 YEAR RETIREMENT PROGRAM:
   (I)  WHO  HAS COMPLETED TWENTY-FIVE OR MORE YEARS OF ALLOWABLE SERVICE
 AS A FIRE PROTECTION INSPECTOR MEMBER; AND
   (II) WHO FILES WITH THE RETIREMENT SYSTEM AN APPLICATION  FOR  SERVICE
 RETIREMENT  SETTING FORTH AT WHAT TIME, NOT LESS THAN THIRTY DAYS SUBSE-
 QUENT TO THE EXECUTION AND FILING THEREOF,  HE  OR  SHE  DESIRES  TO  BE
 RETIRED; AND
   (III)  WHO  SHALL  BE A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT
 PROGRAM AT THE TIME SO SPECIFIED FOR HIS OR  HER  RETIREMENT;  SHALL  BE
 RETIRED  PURSUANT  TO  THE  PROVISIONS  OF  THIS SECTION AFFORDING EARLY
 SERVICE RETIREMENT.
   2. NOTWITHSTANDING ANY OTHER PROVISION OF LAW  TO  THE  CONTRARY,  THE
 EARLY  SERVICE  RETIREMENT  BENEFIT FOR A PARTICIPANT IN THE TWENTY-FIVE
 YEAR RETIREMENT PROGRAM WHO RETIRES PURSUANT TO PARAGRAPH  ONE  OF  THIS
 SUBDIVISION SHALL BE A RETIREMENT ALLOWANCE CONSISTING OF:
   (I)  AN  AMOUNT, ON ACCOUNT OF THE REQUIRED MINIMUM PERIOD OF SERVICE,
 EQUAL TO THE SUMS OF (A) AN ANNUITY WHICH SHALL BE THE ACTUARIAL  EQUIV-
 ALENT  OF  THE  ACCUMULATED  DEDUCTIONS  FROM HIS OR HER PAY DURING SUCH
 PERIOD, (B) A PENSION FOR INCREASED-TAKE-HOME-PAY  WHICH  SHALL  BE  THE
 ACTUARIAL EQUIVALENT OF THE RESERVE FOR INCREASED-TAKE-HOME-PAY TO WHICH
 HE OR SHE MAY BE ENTITLED FOR SUCH PERIOD, AND (C) A PENSION WHICH, WHEN
 ADDED  TO  SUCH  ANNUITY  AND  SUCH PENSION FOR INCREASED-TAKE-HOME-PAY,
 PRODUCES A RETIREMENT ALLOWANCE EQUAL TO FIFTY-FIVE PERCENT OF THE SALA-
 RY EARNED OR EARNABLE IN THE YEAR PRIOR TO HIS OR HER RETIREMENT; PLUS
   (II) AN AMOUNT FOR EACH ADDITIONAL YEAR OF ALLOWABLE SERVICE AS A FIRE
 PROTECTION INSPECTOR MEMBER, OR FRACTION THEREOF, BEYOND  SUCH  REQUIRED
 MINIMUM  PERIOD  OF SERVICE EQUAL TO ONE AND SEVEN-TENTHS PERCENT OF THE
 SALARY EARNED OR EARNABLE IN THE YEAR PRIOR TO HIS OR HER RETIREMENT FOR
 SUCH ALLOWABLE SERVICE DURING THE PERIOD FROM THE COMPLETION OF  TWENTY-
 FIVE YEARS OF ALLOWABLE SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER TO
 THE DATE OF RETIREMENT.
   D.  VESTING.  1.  A  PARTICIPANT  IN  THE  TWENTY-FIVE YEAR RETIREMENT
 PROGRAM WHO: (I) DISCONTINUES SERVICE AS  A  FIRE  PROTECTION  INSPECTOR
 MEMBER,  OTHER  THAN  BY  DEATH  OR  RETIREMENT;  AND (II) PRIOR TO SUCH
 DISCONTINUANCE, COMPLETED FIVE BUT LESS THAN TWENTY-FIVE YEARS OF ALLOW-
 ABLE CITY SERVICE; AND (III) DOES NOT WITHDRAW IN WHOLE OR IN  PART  HIS
 OR  HER  ACCUMULATED  MEMBER CONTRIBUTIONS PURSUANT TO SECTION 13-141 OF
 THIS CHAPTER, SHALL BE ENTITLED TO RECEIVE A DEFERRED VESTED BENEFIT  AS
 PROVIDED IN THIS SUBDIVISION.
   2. (I) UPON SUCH DISCONTINUANCE UNDER THE CONDITIONS AND IN COMPLIANCE
 WITH  THE PROVISIONS OF PARAGRAPH ONE OF THIS SUBDIVISION, SUCH DEFERRED
 VESTED BENEFIT SHALL VEST AUTOMATICALLY.
   (II) SUCH VESTED BENEFIT SHALL BECOME PAYABLE ON THE EARLIEST DATE  ON
 WHICH  SUCH  DISCONTINUED  MEMBER COULD HAVE RETIRED FOR SERVICE IF SUCH
 DISCONTINUANCE HAD NOT OCCURRED.
   3. SUCH DEFERRED  VESTED  BENEFIT  SHALL  BE  A  RETIREMENT  ALLOWANCE
 CONSISTING  OF  AN  AMOUNT  EQUAL  TO TWO AND TWO-TENTHS PERCENT OF SUCH
 DISCONTINUED MEMBER'S SALARY EARNED OR EARNABLE IN THE YEAR PRIOR TO HIS
 OR HER DISCONTINUANCE, MULTIPLIED BY THE NUMBER OF  YEARS  OF  ALLOWABLE
 SERVICE AS A FIRE PROTECTION MEMBER.

 S. 6102--B                          4

   E.  MEMBER CONTRIBUTIONS. ALL FIRE PROTECTION INSPECTOR MEMBERS OF THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM SHALL BE  REQUIRED  TO  MAKE  MEMBER
 CONTRIBUTIONS AND ADDITIONAL MEMBER CONTRIBUTIONS IN ACCORDANCE WITH AND
 SUBJECT  TO  THE  SAME RIGHTS, PRIVILEGES, OBLIGATIONS AND PROCEDURES AS
 GOVERN  THE  MEMBER  CONTRIBUTIONS  AND  ADDITIONAL MEMBER CONTRIBUTIONS
 REQUIRED BY SUBDIVISION D OF SECTION FOUR HUNDRED  FORTY-FIVE-J  OF  THE
 RETIREMENT AND SOCIAL SECURITY LAW.
   FOR THE PURPOSE OF APPLYING UNDER THIS SUBDIVISION, SUCH SUBDIVISION D
 OF  SECTION FOUR HUNDRED FORTY-FIVE-J OF THE RETIREMENT AND SOCIAL SECU-
 RITY LAW TO A FIRE PROTECTION INSPECTOR MEMBER OF THE  TWENTY-FIVE  YEAR
 RETIREMENT PROGRAM WHO IS SUBJECT TO THE PROVISIONS OF THIS SECTION, AND
 IS NOT SUBJECT TO THE PROVISIONS OF ARTICLE ELEVEN OF THE RETIREMENT AND
 SOCIAL SECURITY LAW, THE TERM "CREDITED SERVICE," AS USED IN SUCH SUBDI-
 VISION,  SHALL  BE DEEMED TO MEAN ALLOWABLE SERVICE AS A FIRE PROTECTION
 INSPECTOR MEMBER.
   § 2. Subdivision a of section 444 of the retirement and social securi-
 ty law, as amended by section 141 of subpart B of part C of  chapter  62
 of the laws of 2011, is amended to read as follows:
   a.  Except as provided in subdivision c of section four hundred forty-
 five-a of this article, subdivision c of  section  four  hundred  forty-
 five-b  of  this  article,  subdivision c of section four hundred forty-
 five-c  of  this  article,  subdivision  c  of  section   four   hundred
 forty-five-d  of  this article as added by chapter four hundred seventy-
 two of the laws  of  nineteen  hundred  ninety-five,  subdivision  c  of
 section  four  hundred  forty-five-e  of  this article, subdivision c of
 section four hundred forty-five-f of this article [and],  subdivision  c
 of  section  four hundred forty-five-h of this article AND SUBDIVISION C
 OF SECTION FOUR HUNDRED FORTY-FIVE-J,  the  maximum  retirement  benefit
 computed without optional modification provided to a member of a retire-
 ment system who is subject to the provisions of this article, other than
 a  police officer, a firefighter, an investigator member of the New York
 city employees' retirement system, a member of the  uniformed  personnel
 in  institutions  under the jurisdiction of the New York city department
 of correction who receives a performance of duty  disability  retirement
 allowance, a member of the uniformed personnel in institutions under the
 jurisdiction  of the department of corrections and community supervision
 or a security hospital treatment assistant, as those terms  are  defined
 in  subdivision i of section eighty-nine of this chapter, who receives a
 performance of duty disability  retirement  allowance,  a  member  of  a
 teachers' retirement system, New York city employees' retirement system,
 New  York  city  board of education retirement system or a member of the
 New York state and local employees' retirement system or a member of the
 New York city employees' retirement system or New  York  city  board  of
 education  retirement  system  employed  as  a  special officer, parking
 control specialist, school safety agent, campus peace officer, taxi  and
 limousine inspector or a police communications member and who receives a
 performance  of  duty  disability  pension,  from funds other than those
 based on a member's own or increased-take-home-pay contributions, shall,
 before any reduction for early retirement, be sixty per  centum  of  the
 first  fifteen  thousand  three hundred dollars of final average salary,
 and fifty per centum of final average salary in excess of fifteen  thou-
 sand three hundred dollars, and forty per centum of final average salary
 in  excess  of  twenty-seven  thousand  three hundred dollars, provided,
 however, that the benefits provided by subdivision  c  of  section  four
 hundred  forty-five-d  of  this article as added by chapter four hundred
 seventy-two of the laws of nineteen hundred ninety-five based  upon  the

 S. 6102--B                          5

 additional  member  contributions  required  by  subdivision  d  of such
 section four hundred  forty-five-d  shall  be  subject  to  the  maximum
 retirement  benefit  computations set forth in this section. The maximum
 retirement  benefit  computed without optional modification payable to a
 police officer, an investigator member of the New York  city  employees'
 retirement  system  or  a  firefighter  shall  equal  that  payable upon
 completion of thirty years of service, except that the  maximum  service
 retirement  benefit  computed  without optional modification shall equal
 that payable upon completion of thirty-two years of service.
   § 3. Subdivision a of section 445 of the retirement and social securi-
 ty law, as amended by chapter 295 of the laws of  2007,  is  amended  to
 read as follows:
   a.  No  member of a retirement system who is subject to the provisions
 of this article shall retire without regard to age, exclusive of retire-
 ment for disability, unless he OR SHE is a  policeman,  an  investigator
 member  of  the  New  York  city  employees' retirement system, fireman,
 correction officer, a qualifying member as defined  in  section  eighty-
 nine-t, as added by chapter six hundred fifty-seven of the laws of nine-
 teen  hundred  ninety-eight,  of this chapter, sanitation man, a special
 officer (including persons employed by the city of New York in the title
 urban park ranger or associate urban park ranger), school safety  agent,
 campus peace officer or a taxi and limousine commission inspector member
 of  the  New York city employees' retirement system or the New York city
 board of education retirement system, a dispatcher  member  of  the  New
 York  city  employees' retirement system, a police communications member
 of the New York city employees' retirement system, an EMT member of  the
 New  York  city employees' retirement system, a deputy sheriff member of
 the New York  city  employees'  retirement  system,  A  FIRE  PROTECTION
 INSPECTOR  MEMBER  OF  THE NEW YORK CITY EMPLOYEES' RETIREMENT SYSTEM, a
 correction officer of the Westchester county  correction  department  as
 defined  in section eighty-nine-e of this chapter or employed in Suffolk
 county as a peace officer, as defined in section eighty-nine-s, as added
 by chapter five hundred eighty-eight of the  laws  of  nineteen  hundred
 ninety-seven,   of  this  chapter,  employed  in  Suffolk  county  as  a
 correction officer, as defined in section eighty-nine-f of this chapter,
 or  employed  in  Nassau  county  as  a  correction  officer,  uniformed
 correction  division personnel, sheriff, undersheriff or deputy sheriff,
 as defined in section eighty-nine-g of  this  chapter,  or  employed  in
 Nassau  county  as an ambulance medical technician, an ambulance medical
 technician/supervisor or a member who performs ambulance medical techni-
 cian related services, as defined in section eighty-nine-s,  as  amended
 by  chapter  five  hundred seventy-eight of the laws of nineteen hundred
 ninety-eight, of this chapter, or employed in Nassau county as  a  peace
 officer,  as  defined in section eighty-nine-s, as added by chapter five
 hundred ninety-five of the laws of  nineteen  hundred  ninety-seven,  of
 this  chapter,  or employed in Albany county as a sheriff, undersheriff,
 deputy sheriff, correction officer or identification officer, as defined
 in section eighty-nine-h of this chapter or is employed in St.  Lawrence
 county as a sheriff, undersheriff, deputy sheriff or correction officer,
 as  defined  in  section eighty-nine-i of this chapter or is employed in
 Orleans county as a sheriff, undersheriff, deputy sheriff or  correction
 officer,  as  defined  in  section  eighty-nine-l  of this chapter or is
 employed in Jefferson county as a sheriff, undersheriff, deputy  sheriff
 or correction officer, as defined in section eighty-nine-j of this chap-
 ter  or is employed in Onondaga county as a deputy sheriff-jail division
 competitively appointed or  as  a  correction  officer,  as  defined  in

 S. 6102--B                          6
 
 section  eighty-nine-k  of this chapter or is employed in a county which
 makes an election under subdivision j of section eighty-nine-p  of  this
 chapter as a sheriff, undersheriff, deputy sheriff or correction officer
 as defined in such section eighty-nine-p or is employed in Broome County
 as  a  sheriff,  undersheriff,  deputy sheriff or correction officer, as
 defined in section eighty-nine-m of this chapter or is a  Monroe  county
 deputy  sheriff-court  security,  or deputy sheriff-jailor as defined in
 section eighty-nine-n, as added by chapter five hundred ninety-seven  of
 the  laws of nineteen hundred ninety-one, of this chapter or is employed
 in  Greene  county  as  a  sheriff,  undersheriff,  deputy  sheriff   or
 correction  officer, as defined in section eighty-nine-o of this chapter
 or is a traffic officer with the town of Elmira as  defined  in  section
 eighty-nine-q of this chapter or is employed by Suffolk county as a park
 police  officer,  as defined in section eighty-nine-r of this chapter or
 is a peace officer employed by a county probation department as  defined
 in  section  eighty-nine-t, as added by chapter six hundred three of the
 laws of nineteen hundred ninety-eight, of this chapter or is employed in
 Rockland county as a deputy sheriff-civil as defined in section  eighty-
 nine-v of this chapter as added by chapter four hundred forty-one of the
 laws of two thousand one, or is employed in Rockland county as a superi-
 or  correction officer as defined in section eighty-nine-v of this chap-
 ter as added by chapter five hundred fifty-six of the laws of two  thou-
 sand one or is a paramedic employed by the police department in the town
 of  Tonawanda  and retires under the provisions of section eighty-nine-v
 of this chapter, as added by chapter four  hundred  seventy-two  of  the
 laws  of two thousand one, or is a county fire marshal, supervising fire
 marshal, fire marshal, assistant  fire  marshal,  assistant  chief  fire
 marshal  or  chief  fire  marshal  employed  by  the county of Nassau as
 defined in section eighty-nine-w of this chapter and is in a plan  which
 permits  immediate  retirement  upon completion of a specified period of
 service without regard to age. Except as provided in  subdivision  c  of
 section  four  hundred  forty-five-a  of  this article, subdivision c of
 section four hundred forty-five-b of  this  article,  subdivision  c  of
 section  four  hundred  forty-five-c  of  this article, subdivision c of
 section four hundred forty-five-d of  this  article,  subdivision  c  of
 section  four  hundred  forty-five-e  of  this article, subdivision c of
 section four hundred forty-five-f of this article [and],  subdivision  c
 of  section four hundred forty-five-h of this article, AND SUBDIVISION C
 OF SECTION FOUR HUNDRED FORTY-FIVE-J OF THIS ARTICLE, a member in such a
 plan and such an occupation, other  than  a  policeman  or  investigator
 member  of  the New York city employees' retirement system or a fireman,
 shall not be permitted to retire prior to the completion of  twenty-five
 years  of  credited service; provided, however, if such a member in such
 an occupation is in a plan which permits retirement upon  completion  of
 twenty  years  of  service  regardless of age, he OR SHE may retire upon
 completion of  twenty  years  of  credited  service  and  prior  to  the
 completion  of twenty-five years of service, but in such event the bene-
 fit provided from funds other than those based on such  a  member's  own
 contributions  shall  not  exceed two per centum of final average salary
 per each year of credited service.
   § 4. The retirement and social security law is amended by adding a new
 section 445-j to read as follows:
   § 445-J. OPTIONAL TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM
 FOR FIRE PROTECTION INSPECTOR MEMBERS.  A.  DEFINITIONS.  THE  FOLLOWING
 WORDS AND PHRASES AS USED IN THIS SECTION SHALL HAVE THE FOLLOWING MEAN-
 INGS UNLESS A DIFFERENT MEANING IS PLAINLY REQUIRED BY THE CONTEXT.

 S. 6102--B                          7
 
   1. "RETIREMENT SYSTEM" SHALL MEAN THE NEW YORK CITY EMPLOYEES' RETIRE-
 MENT SYSTEM.
   2.  "FIRE  PROTECTION INSPECTOR MEMBER" SHALL MEAN (I) A MEMBER OF THE
 RETIREMENT SYSTEM WHO IS SUBJECT TO THE PROVISIONS OF THIS ARTICLE,  WHO
 IS EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY FIRE DEPART-
 MENT IN A TITLE WHOSE DUTIES ARE THOSE OF A FIRE PROTECTION INSPECTOR OR
 ASSOCIATE FIRE PROTECTION INSPECTOR; AND (II) A MEMBER OF THE RETIREMENT
 SYSTEM  WHO,  ON  THE DATE THIS ACT SHALL TAKE EFFECT OR THEREAFTER, WAS
 EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY FIRE DEPARTMENT
 IN A TITLE WHOSE DUTIES ARE THOSE OF  A  FIRE  PROTECTION  INSPECTOR  OR
 ASSOCIATE  FIRE PROTECTION INSPECTOR AND WHO, SUBSEQUENT THERETO, BECAME
 EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY FIRE DEPARTMENT
 IN A TITLE WHOSE DUTIES  REQUIRE  THE  SUPERVISION  OF  EMPLOYEES  WHOSE
 DUTIES  ARE  THOSE  OF  A  FIRE  PROTECTION  INSPECTOR OR ASSOCIATE FIRE
 PROTECTION INSPECTOR.
   3. "TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM"  SHALL  MEAN
 ALL THE TERMS AND CONDITIONS OF THIS SECTION.
   4.  "STARTING DATE OF THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT
 PROGRAM" SHALL MEAN THE DATE OF ENACTMENT OF THE ACT  WHICH  ADDED  THIS
 SECTION,  AS SUCH DATE IS CERTIFIED PURSUANT TO SECTION FORTY-ONE OF THE
 LEGISLATIVE LAW.
   5. "PARTICIPANT IN THE TWENTY-FIVE YEAR  IMPROVED  BENEFIT  RETIREMENT
 PROGRAM"  SHALL MEAN ANY FIRE PROTECTION INSPECTOR MEMBER WHO, UNDER THE
 APPLICABLE PROVISIONS OF SUBDIVISION B OF THIS SECTION, IS  ENTITLED  TO
 THE RIGHTS, BENEFITS AND PRIVILEGES AND IS SUBJECT TO THE OBLIGATIONS OF
 THE  TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM, AS APPLICABLE
 TO HIM OR HER.
   6. "ADMINISTRATIVE CODE" SHALL MEAN THE  ADMINISTRATIVE  CODE  OF  THE
 CITY OF NEW YORK.
   7.  "ACCUMULATED  DEDUCTIONS"  SHALL  MEAN  ACCUMULATED  DEDUCTIONS AS
 DEFINED IN SUBDIVISION ELEVEN OF SECTION 13-101  OF  THE  ADMINISTRATIVE
 CODE.
   8. "OPTIONAL RETIREMENT PROVISIONS" SHALL MEAN THE RIGHT TO RETIRE AND
 RECEIVE A RETIREMENT ALLOWANCE UNDER THIS SECTION UPON THE COMPLETION OF
 TWENTY-FIVE YEARS OF ALLOWABLE SERVICE.
   9. "ALLOWABLE SERVICE" FOR PURPOSES OF THIS SECTION SHALL MEAN (1) ALL
 SERVICE  WHILE  EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY
 FIRE DEPARTMENT IN A TITLE WHOSE DUTIES ARE THOSE OF A  FIRE  PROTECTION
 INSPECTOR  OR  ASSOCIATE FIRE PROTECTION INSPECTOR, AND (2) WITH RESPECT
 TO AN INDIVIDUAL WHO WAS  EMPLOYED  UPON  THE  EFFECTIVE  DATE  OF  THIS
 SECTION  OR  THEREAFTER  IN  A  TITLE  WHOSE  DUTIES ARE THOSE OF A FIRE
 PROTECTION INSPECTOR OR ASSOCIATE FIRE PROTECTION  INSPECTOR,  ALL  SUCH
 SERVICE  SUBSEQUENT  THERETO  IN A TITLE WHOSE DUTIES REQUIRE THE SUPER-
 VISION OF EMPLOYEES WHOSE DUTIES ARE THOSE OF A FIRE PROTECTION  INSPEC-
 TOR OR ASSOCIATE FIRE PROTECTION INSPECTOR.
   B.  ELECTION  OF TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM.
 1.  SUBJECT TO THE PROVISIONS OF PARAGRAPH FIVE AND SIX OF THIS SUBDIVI-
 SION, ANY PERSON WHO IS A FIRE PROTECTION INSPECTOR MEMBER ON THE START-
 ING DATE OF THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM MAY
 ELECT TO BECOME A PARTICIPANT IN THE TWENTY-FIVE YEAR  IMPROVED  BENEFIT
 RETIREMENT  PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY DAYS AFTER SUCH
 STARTING DATE, A DULY EXECUTED APPLICATION FOR SUCH  PARTICIPATION  WITH
 THE RETIREMENT SYSTEM, PROVIDED THAT HE OR SHE IS SUCH A FIRE PROTECTION
 INSPECTOR MEMBER ON THE DATE SUCH APPLICATION IS FILED.
   2.  SUBJECT TO THE PROVISION OF PARAGRAPHS FIVE AND SIX OF THIS SUBDI-
 VISION, ANY PERSON WHO BECOMES A FIRE PROTECTION INSPECTOR MEMBER  AFTER

 S. 6102--B                          8
 
 THE  STARTING  DATE  OF THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT
 PROGRAM MAY ELECT TO  BECOME  A  PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY
 DAYS  AFTER  BECOMING  SUCH  A  FIRE PROTECTION INSPECTOR MEMBER, A DULY
 EXECUTED APPLICATION FOR SUCH PARTICIPATION WITH THE RETIREMENT  SYSTEM,
 PROVIDED  THAT  HE  OR SHE IS SUCH A FIRE PROTECTION INSPECTOR MEMBER ON
 THE DATE SUCH APPLICATION IS FILED.
   3. ANY ELECTION TO BE A PARTICIPANT IN THE TWENTY-FIVE  YEAR  IMPROVED
 BENEFIT RETIREMENT PROGRAM SHALL BE IRREVOCABLE.
   4.  WHERE  ANY  PARTICIPANT  IN  THE TWENTY-FIVE YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM SHALL CEASE TO HOLD A POSITION AS A  FIRE  PROTECTION
 INSPECTOR  MEMBER,  HE  OR SHE SHALL CEASE TO BE SUCH A PARTICIPANT AND,
 DURING ANY PERIOD IN WHICH SUCH A PERSON  DOES  NOT  HOLD  SUCH  A  FIRE
 PROTECTION  INSPECTOR  POSITION, HE OR SHE SHALL NOT BE A PARTICIPANT IN
 THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM AND  SHALL  NOT
 BE ELIGIBLE FOR THE BENEFITS OF SUBDIVISION C OF THIS SECTION.
   5.  WHERE  ANY  PARTICIPANT  IN  THE TWENTY-FIVE YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM TERMINATES SERVICE AS  A  FIRE  PROTECTION  INSPECTOR
 MEMBER AND RETURNS TO SUCH SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER
 AT A LATER DATE, HE OR SHE SHALL AGAIN BECOME SUCH A PARTICIPANT ON THAT
 DATE.
   6.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY, ANY
 PERSON WHO IS ELIGIBLE TO BECOME A PARTICIPANT IN THE  TWENTY-FIVE  YEAR
 IMPROVED  BENEFIT RETIREMENT PROGRAM PURSUANT TO PARAGRAPH ONE OR TWO OF
 THIS SUBDIVISION FOR THE FULL ONE HUNDRED EIGHTY DAY PERIOD PROVIDED FOR
 IN SUCH APPLICABLE PARAGRAPH  AND  WHO  FAILS  TO  TIMELY  FILE  A  DULY
 EXECUTED  APPLICATION FOR SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM,
 SHALL NOT THEREAFTER  BE  ELIGIBLE  TO  BECOME  A  PARTICIPANT  IN  SUCH
 PROGRAM.
   C. SERVICE RETIREMENT BENEFITS. NOTWITHSTANDING ANY OTHER PROVISION OF
 LAW  TO  THE  CONTRARY,  WHERE  A  PARTICIPANT  IN  THE TWENTY-FIVE YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM, WHO IS OTHERWISE  QUALIFIED  FOR  A
 RETIREMENT  ALLOWANCE  PURSUANT TO THE OPTIONAL RETIREMENT PROVISION SET
 FORTH IN SUBDIVISION A OF THIS SECTION, HAS MADE AND/OR PAID,  WHILE  HE
 OR  SHE  IS  A  FIRE  PROTECTION INSPECTOR MEMBER, ALL ADDITIONAL MEMBER
 CONTRIBUTIONS AND INTEREST (IF ANY) REQUIRED BY SUBDIVISION  D  OF  THIS
 SECTION, THEN:
   1. THAT PARTICIPANT, WHILE HE OR SHE REMAINS PARTICIPANT, SHALL NOT BE
 SUBJECT  TO  THE  PROVISIONS  OF  SUBDIVISION  A OF SECTION FOUR HUNDRED
 FORTY-FIVE OF THIS CHAPTER; AND
   2. IF THAT PARTICIPANT, WHILE SUCH A PARTICIPANT, RETIRES FOR SERVICE,
 HE OR SHE SHALL NOT BE SUBJECT TO THE PROVISIONS OF SECTION FOUR HUNDRED
 FORTY-FOUR OF THIS CHAPTER; AND
   3. HIS OR HER RETIREMENT ALLOWANCE SHALL BE AN AMOUNT, ON  ACCOUNT  OF
 THE REQUIRED MINIMUM PERIOD OF SERVICE, EQUAL TO THE SUM OF (I) AN ANNU-
 ITY   WHICH  SHALL  BE  THE  ACTUARIAL  EQUIVALENT  OF  THE  ACCUMULATED
 DEDUCTIONS FROM HIS OR HER PAY DURING SUCH PERIOD, (II)  A  PENSION  FOR
 INCREASED-TAKE-HOME-PAY  WHICH  SHALL BE THE ACTUARIAL EQUIVALENT OF THE
 RESERVE FOR INCREASED-TAKE-HOME-PAY TO WHICH HE OR SHE MAY BE  ENTITLED,
 FOR  SUCH  PERIOD, AND (III) A PENSION WHICH, WHEN ADDED TO SUCH ANNUITY
 AND SUCH PENSION  FOR  INCREASED-TAKE-HOME-PAY,  PRODUCES  A  RETIREMENT
 ALLOWANCE  EQUAL  TO  FIFTY  PERCENT OF HIS OR HER FINAL AVERAGE SALARY,
 PLUS AN AMOUNT FOR EACH ADDITIONAL YEAR OF ALLOWABLE SERVICE AS  A  FIRE
 PROTECTION  INSPECTOR  MEMBER, OR FRACTION THEREOF, BEYOND SUCH REQUIRED
 MINIMUM PERIOD OF SERVICE EQUAL TO TWO PERCENT OF HIS OR HER FINAL AVER-
 AGE SALARY FOR SUCH ALLOWABLE SERVICE AS  A  FIRE  PROTECTION  INSPECTOR

 S. 6102--B                          9
 
 MEMBER  DURING THE PERIOD FROM COMPLETION OF TWENTY-FIVE YEARS OF ALLOW-
 ABLE SERVICE AS A FIRE  PROTECTION  INSPECTOR  MEMBER  TO  THE  DATE  OF
 RETIREMENT  BUT NOT TO EXCEED MORE THAN FIVE YEARS OF ADDITIONAL SERVICE
 AS A FIRE PROTECTION INSPECTOR MEMBER.
   D.  ADDITIONAL  MEMBER  CONTRIBUTIONS.  1.  IN  ADDITION TO THE MEMBER
 CONTRIBUTIONS REQUIRED PURSUANT TO  SECTION  13-125  OR  13-162  OF  THE
 ADMINISTRATIVE  CODE  OF  THE  CITY OF NEW YORK, EACH PARTICIPANT IN THE
 TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM  SHALL  CONTRIBUTE,
 SUBJECT TO THE APPLICABLE PROVISIONS OF SECTION 13-125.2 OF THE ADMINIS-
 TRATIVE  CODE  OF THE CITY OF NEW YORK, AN ADDITIONAL SIX PERCENT OF HIS
 OR HER COMPENSATION EARNED FROM ALLOWABLE SERVICE AS A  FIRE  PROTECTION
 INSPECTOR  MEMBER,  AS  A  PARTICIPANT  IN THE TWENTY-FIVE YEAR IMPROVED
 BENEFIT RETIREMENT PROGRAM, RENDERED ON AND AFTER THE STARTING  DATE  OF
 THE  IMPROVED BENEFIT RETIREMENT PROGRAM, AND ALL ALLOWABLE SERVICE AS A
 FIRE PROTECTION INSPECTOR MEMBER  AFTER  SUCH  PERSON  CEASES  TO  BE  A
 PARTICIPANT,  BUT  BEFORE HE OR SHE AGAIN BECOMES A PARTICIPANT PURSUANT
 TO PARAGRAPH FIVE OF SUBDIVISION B OF THIS SECTION.   A  PARTICIPANT  IN
 THE  TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM SHALL CONTRIB-
 UTE ADDITIONAL MEMBER CONTRIBUTIONS UNTIL THE LATER OF THE  DATE  AS  OF
 WHICH  HE  OR  SHE  IS ELIGIBLE TO RETIRE WITH THIRTY YEARS OF ALLOWABLE
 SERVICE AS A FIRE PROTECTION  INSPECTOR  MEMBER  UNDER  SUCH  RETIREMENT
 PROGRAM,  OR  THE  FIRST ANNIVERSARY OF THE STARTING DATE OF THE TWENTY-
 FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM. THE  ADDITIONAL  CONTRIB-
 UTIONS  REQUIRED  BY  THIS SECTION SHALL BE IN LIEU OF ADDITIONAL MEMBER
 CONTRIBUTIONS REQUIRED BY SUBDIVISION D OF SECTION FOUR  HUNDRED  FORTY-
 FIVE-D  OF  THIS  CHAPTER, AS ADDED BY CHAPTER NINETY-SIX OF THE LAWS OF
 NINETEEN HUNDRED NINETY-FIVE, AND NO MEMBER PAYING  ADDITIONAL  CONTRIB-
 UTIONS  PURSUANT  TO  THIS  SECTION  SHALL BE REQUIRED TO PAY ADDITIONAL
 CONTRIBUTIONS PURSUANT TO SUCH SUBDIVISION D  OF  SECTION  FOUR  HUNDRED
 FORTY-FIVE-D OF THIS CHAPTER.
   2.  COMMENCING  WITH  THE  FIRST FULL PAYROLL PERIOD AFTER EACH PERSON
 BECOMES A PARTICIPANT IN THE TWENTY-FIVE YEAR IMPROVED  BENEFIT  RETIRE-
 MENT  PROGRAM,  ADDITIONAL MEMBER CONTRIBUTIONS AT THE RATE SPECIFIED IN
 PARAGRAPH ONE OF THIS SUBDIVISION SHALL  BE  DEDUCTED,  SUBJECT  TO  THE
 APPLICABLE  PROVISIONS OF SECTION 13-125.2 OF THE ADMINISTRATIVE CODE OF
 THE CITY OF NEW YORK, FROM THE COMPENSATION OF SUCH PARTICIPANT ON  EACH
 AND  EVERY PAYROLL OF SUCH PARTICIPANT FOR EACH AND EVERY PAYROLL PERIOD
 FOR WHICH HE OR SHE IS SUCH A PARTICIPANT.
   3. (I) SUBJECT TO THE PROVISIONS OF SUBPARAGRAPH (II)  OF  THIS  PARA-
 GRAPH,  WHERE  ANY ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY PARAGRAPH
 ONE OF THIS SUBDIVISION ARE NOT PAID BY DEDUCTIONS FROM A  PARTICIPANT'S
 COMPENSATION PURSUANT TO PARAGRAPH TWO OF THIS SUBDIVISION:
   (A)  THAT  PARTICIPANT SHALL BE CHARGED WITH A CONTRIBUTION DEFICIENCY
 CONSISTING OF SUCH  UNPAID  AMOUNTS,  TOGETHER  WITH  INTEREST  THEREON,
 COMPOUNDED ANNUALLY; AND
   (B)  SUCH  INTEREST  ON  EACH AMOUNT OF UNDEDUCTED CONTRIBUTIONS SHALL
 ACCRUE FROM THE END OF THE PAYROLL PERIOD FOR WHICH  SUCH  AMOUNT  WOULD
 HAVE BEEN DEDUCTED FROM COMPENSATION IF HE OR SHE HAD BEEN A PARTICIPANT
 AT  THE  BEGINNING  OF  THAT PAYROLL PERIOD AND SUCH DEDUCTIONS HAD BEEN
 REQUIRED FOR SUCH PAYROLL PERIOD  UNTIL  SUCH  AMOUNT  IS  PAID  TO  THE
 RETIREMENT SYSTEM; AND
   (C)  (1)  INTEREST  ON EACH SUCH AMOUNT INCLUDED IN SUCH PARTICIPANT'S
 CONTRIBUTION DEFICIENCY PURSUANT TO THIS SUBPARAGRAPH  SHALL  BE  CALCU-
 LATED  AS IF SUCH ADDITIONAL MEMBER CONTRIBUTIONS NEVER HAD BEEN PAID BY
 SUCH PARTICIPANT, AND SUCH INTEREST SHALL ACCRUE FROM  THE  END  OF  THE
 PAYROLL PERIOD TO WHICH AN AMOUNT OF SUCH ADDITIONAL MEMBER CONTRIBUTION

 S. 6102--B                         10
 
 IS  ATTRIBUTABLE,  COMPOUNDED ANNUALLY, UNTIL SUCH AMOUNT IS PAID TO THE
 RETIREMENT SYSTEM;
   (2)  THE RATE OF INTEREST TO BE APPLIED TO EACH SUCH AMOUNT DURING THE
 PERIOD FOR WHICH INTEREST ACCRUES ON THAT AMOUNT SHALL BE EQUAL  TO  THE
 RATE  OR  RATES  OF INTEREST REQUIRED BY LAW TO BE USED DURING THAT SAME
 PERIOD TO CREDIT INTEREST ON THE ACCUMULATED  DEDUCTIONS  OF  RETIREMENT
 SYSTEM MEMBERS;
   (II)  EXCEPT  AS  PROVIDED IN SUBPARAGRAPH (III) OF THIS PARAGRAPH, NO
 INTEREST SHALL BE DUE ON ANY UNPAID ADDITIONAL CONTRIBUTIONS  WHICH  ARE
 NOT  ATTRIBUTABLE  TO  THE PERIOD PRIOR TO THE FIRST FULL PAYROLL PERIOD
 REFERRED TO IN PARAGRAPH TWO OF THIS SUBDIVISION;
   (III) SHOULD ANY PERSON WHO,  PURSUANT  TO  PARAGRAPH  SEVEN  OF  THIS
 SUBDIVISION  HAS  WITHDRAWN ANY ADDITIONAL MEMBER CONTRIBUTIONS (AND ANY
 INTEREST PAID THEREON) AGAIN BECOME A  PARTICIPANT  IN  THE  TWENTY-FIVE
 YEAR  IMPROVED  BENEFIT RETIREMENT PROGRAM PURSUANT TO PARAGRAPH FIVE OF
 SUBDIVISION B OF THIS SECTION, AN APPROPRIATE AMOUNT SHALL  BE  INCLUDED
 IN SUCH PARTICIPANT'S CONTRIBUTION DEFICIENCY (INCLUDING INTEREST THERE-
 ON  AS  CALCULATED  PURSUANT TO THIS PARAGRAPH) FOR ANY CREDITED SERVICE
 WITH RESPECT TO WHICH SUCH PERSON RECEIVED A REFUND OF ADDITIONAL MEMBER
 CONTRIBUTIONS (INCLUDING ANY AMOUNT OF AN UNPAID LOAN BALANCE DEEMED  TO
 HAVE  BEEN  RETURNED  TO SUCH PERSON PURSUANT TO PARAGRAPH SEVEN OF THIS
 SUBDIVISION), AS IF SUCH ADDITIONAL MEMBER CONTRIBUTIONS NEVER HAD  BEEN
 PAID.
   4. THE BOARD OF TRUSTEES OF THE RETIREMENT SYSTEM MAY, CONSISTENT WITH
 THE  PROVISIONS  OF  THIS  SUBDIVISION,  PROMULGATE  REGULATIONS FOR THE
 PAYMENT OF THE ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY THIS SUBDIVI-
 SION, AND ANY INTEREST THEREON, BY A PARTICIPANT IN THE TWENTY-FIVE YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM (INCLUDING  THE  DEDUCTION  OF  SUCH
 CONTRIBUTIONS, AND ANY INTEREST THEREON, FROM HIS OR HER COMPENSATION).
   5.  WHERE  A PARTICIPANT WHO IS OTHERWISE ELIGIBLE FOR SERVICE RETIRE-
 MENT PURSUANT TO SUBDIVISION C OF THIS SECTION DID  NOT,  PRIOR  TO  THE
 EFFECTIVE  DATE  OF  RETIREMENT, PAY THE ENTIRE AMOUNT OF A CONTRIBUTION
 DEFICIENCY CHARGEABLE TO HIM OR HER PURSUANT TO PARAGRAPH THREE OF  THIS
 SUBDIVISION,  OR  REPAY  THE ENTIRE AMOUNT OF A LOAN OF HIS OR HER ADDI-
 TIONAL MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH EIGHT OF THIS SUBDIVI-
 SION (INCLUDING ACCRUED INTEREST ON SUCH LOAN), THAT PARTICIPANT, NEVER-
 THELESS, SHALL BE ELIGIBLE TO RETIRE PURSUANT TO SUBDIVISION C  OF  THIS
 SECTION,  PROVIDED, HOWEVER, THAT WHERE SUCH PARTICIPANT IS NOT ENTITLED
 TO A REFUND OF ADDITIONAL MEMBER  CONTRIBUTIONS  PURSUANT  TO  PARAGRAPH
 SEVEN OF THIS SUBDIVISION, SUCH PARTICIPANT'S SERVICE RETIREMENT BENEFIT
 CALCULATED  PURSUANT  TO  THE  APPLICABLE PROVISIONS OF SUBDIVISION C OF
 THIS SECTION SHALL BE REDUCED BY A LIFE ANNUITY (CALCULATED  IN  ACCORD-
 ANCE  WITH  THE METHOD SET FORTH IN SUBDIVISION I OF SECTION SIX HUNDRED
 THIRTEEN-B OF THIS CHAPTER) WHICH IS ACTUARIALLY EQUIVALENT TO: (I)  THE
 AMOUNT  OF  ANY UNPAID CONTRIBUTION DEFICIENCY CHARGEABLE TO SUCH MEMBER
 PURSUANT TO PARAGRAPH THREE OF THIS SUBDIVISION; PLUS (II) THE AMOUNT OF
 ANY UNPAID BALANCE OF A LOAN OF HIS OR HER  ADDITIONAL  MEMBER  CONTRIB-
 UTIONS  PURSUANT  TO  PARAGRAPH  EIGHT  OF  THIS  SUBDIVISION (INCLUDING
 ACCRUED INTEREST ON SUCH LOAN).
   6. SUBJECT TO THE PROVISIONS OF PARAGRAPH FIVE  OF  THIS  SUBDIVISION,
 WHERE  A  PARTICIPANT  HAS  NOT PAID IN FULL ANY CONTRIBUTION DEFICIENCY
 CHARGEABLE TO HIM OR HER PURSUANT TO PARAGRAPH THREE  OF  THIS  SUBDIVI-
 SION,  AND  A  BENEFIT,  OTHER  THAN  A REFUND OF A MEMBER'S ACCUMULATED
 DEDUCTIONS OR A REFUND OF ADDITIONAL MEMBER  CONTRIBUTIONS  PURSUANT  TO
 PARAGRAPH  SEVEN  OF THIS SUBDIVISION, BECOMES PAYABLE BY THE RETIREMENT
 SYSTEM TO THE PARTICIPANT OR TO HIS OR  HER  DESIGNATED  BENEFICIARY  OR

 S. 6102--B                         11
 
 ESTATE,  THE  ACTUARIAL  EQUIVALENT  OF  ANY SUCH UNPAID AMOUNT SHALL BE
 DEDUCTED FROM THE BENEFIT OTHERWISE PAYABLE.
   7.  (I)  ALL ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY THIS SUBDIVI-
 SION (AND ANY INTEREST THEREON) WHICH ARE  RECEIVED  BY  THE  RETIREMENT
 SYSTEM  SHALL  BE PAID INTO ITS CONTINGENT RESERVE FUND AND SHALL BE THE
 PROPERTY OF THE RETIREMENT SYSTEM. SUCH ADDITIONAL MEMBER  CONTRIBUTIONS
 (AND  ANY  INTEREST  THEREON)  SHALL NOT FOR ANY PURPOSE BE DEEMED TO BE
 MEMBER CONTRIBUTIONS OR  ACCUMULATED  DEDUCTIONS  OF  A  MEMBER  OF  THE
 RETIREMENT  SYSTEM  UNDER SECTION 13-125 OR 13-162 OF THE ADMINISTRATIVE
 CODE OF THE CITY OF NEW YORK WHILE HE OR SHE IS  A  PARTICIPANT  IN  THE
 TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT PROGRAM OR OTHERWISE.
   (II)  SHOULD  A  PARTICIPANT  IN THE TWENTY-FIVE YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM, WHO HAS RENDERED LESS THAN FIFTEEN YEARS OF CREDITED
 SERVICE CEASE TO HOLD A POSITION AS A FIRE PROTECTION  INSPECTOR  MEMBER
 FOR  ANY  REASON  WHATSOEVER,  HIS  OR HER ACCUMULATED ADDITIONAL MEMBER
 CONTRIBUTIONS MADE PURSUANT  TO  THIS  SUBDIVISION  (TOGETHER  WITH  ANY
 INTEREST THEREON PAID TO THE RETIREMENT SYSTEM) WHICH REMAIN CREDITED TO
 SUCH  PARTICIPANT'S  ACCOUNT  MAY BE WITHDRAWN BY HIM OR HER PURSUANT TO
 PROCEDURES PROMULGATED IN REGULATIONS OF THE BOARD OF  TRUSTEES  OF  THE
 RETIREMENT  SYSTEM, TOGETHER WITH INTEREST THEREON AT THE RATE OF INTER-
 EST REQUIRED BY LAW TO BE USED TO CREDIT  INTEREST  ON  THE  ACCUMULATED
 DEDUCTIONS OF RETIREMENT SYSTEM MEMBERS COMPOUNDED ANNUALLY.
   (III) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY,
   (A)  NO  PERSON  SHALL  BE  PERMITTED  TO WITHDRAW FROM THE RETIREMENT
 SYSTEM ANY ADDITIONAL MEMBER CONTRIBUTIONS PAID PURSUANT TO THIS  SUBDI-
 VISION  OR  ANY INTEREST PAID THEREON, EXCEPT PURSUANT TO AND IN ACCORD-
 ANCE WITH THE PRECEDING SUBPARAGRAPHS OF THIS PARAGRAPH; AND
   (B) NO PERSON, WHILE HE OR SHE IS A  PARTICIPANT  IN  THE  TWENTY-FIVE
 YEAR IMPROVED BENEFIT RETIREMENT PROGRAM, SHALL BE PERMITTED TO WITHDRAW
 ANY  SUCH  ADDITIONAL  MEMBER CONTRIBUTIONS OR ANY INTEREST PAID THEREON
 PURSUANT TO ANY OF THE PRECEDING  SUBPARAGRAPHS  OF  THIS  PARAGRAPH  OR
 OTHERWISE.
   8.  A  PARTICIPANT IN THE TWENTY-FIVE YEAR IMPROVED BENEFIT RETIREMENT
 PROGRAM SHALL BE PERMITTED TO BORROW FROM HIS OR HER  ADDITIONAL  MEMBER
 CONTRIBUTIONS,  INCLUDING  ANY INTEREST PAID THEREON, WHICH ARE CREDITED
 TO THE ADDITIONAL CONTRIBUTIONS ACCOUNT ESTABLISHED FOR SUCH PARTICIPANT
 IN THE CONTINGENT RESERVE FUND OF THE RETIREMENT SYSTEM.  THE  BORROWING
 FROM  SUCH  ADDITIONAL  MEMBER  CONTRIBUTIONS PURSUANT TO THIS PARAGRAPH
 SHALL BE GOVERNED BY THE SAME RIGHTS, PRIVILEGES, OBLIGATIONS AND PROCE-
 DURES SET FORTH IN SECTION SIX HUNDRED THIRTEEN-B OF THIS CHAPTER  WHICH
 GOVERN THE BORROWING BY MEMBERS SUBJECT TO ARTICLE FIFTEEN OF THIS CHAP-
 TER  OF  MEMBER CONTRIBUTIONS MADE PURSUANT TO SECTION SIX HUNDRED THIR-
 TEEN OF THIS CHAPTER. THE BOARD OF TRUSTEES  OF  THE  RETIREMENT  SYSTEM
 MAY,  CONSISTENT  WITH  THE  PROVISIONS  OF  THIS  SUBDIVISION  AND  THE
 PROVISIONS OF SECTION SIX HUNDRED THIRTEEN-B OF  THIS  CHAPTER  AS  MADE
 APPLICABLE  TO  THIS  SUBDIVISION,  PROMULGATE REGULATIONS GOVERNING THE
 BORROWING OF SUCH ADDITION MEMBER CONTRIBUTIONS.
   9. WHEREVER A PERSON HAS AN UNPAID BALANCE OF A LOAN  OF  HIS  OR  HER
 ADDITIONAL  MEMBER  CONTRIBUTIONS  PURSUANT  TO  PARAGRAPH EIGHT OF THIS
 SUBDIVISION AT THE TIME HE OR SHE BECOMES ENTITLED TO A REFUND OF HIS OR
 HER ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT  TO  SUBPARAGRAPH  (II)  OF
 PARAGRAPH  SEVEN  OF  THIS  SUBDIVISION,  THE AMOUNT OF SUCH UNPAID LOAN
 BALANCE (INCLUDING ACCRUED  INTEREST)  SHALL  BE  DEEMED  TO  HAVE  BEEN
 RETURNED TO SUCH MEMBER, AND THE REFUND OF SUCH ADDITIONAL CONTRIBUTIONS
 SHALL  BE  THE  NET AMOUNT OF SUCH CONTRIBUTIONS, TOGETHER WITH INTEREST
 THEREON IN ACCORDANCE WITH THE PROVISIONS OF SUCH SUBPARAGRAPH.

 S. 6102--B                         12
 
   10. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO  THE  CONTRARY,  THE
 PROVISIONS  OF  SECTION ONE HUNDRED THIRTY-EIGHT-B OF THIS CHAPTER SHALL
 NOT BE APPLICABLE TO  THE  ADDITIONAL  MEMBER  CONTRIBUTIONS  WHICH  ARE
 REQUIRED BY THIS SUBDIVISION.
   11.  NOTWITHSTANDING  ANY  OTHER PROVISION OF LAW TO THE CONTRARY, THE
 ADDITIONAL MEMBER CONTRIBUTIONS WHICH ARE REQUIRED BY  THIS  SUBDIVISION
 SHALL NOT BE REDUCED UNDER ANY PROGRAM FOR INCREASED-TAKE-HOME-PAY.
   E.  THE  PROVISIONS  OF THIS SECTION SHALL NOT BE CONSTRUED TO PROVIDE
 BENEFITS TO ANY PARTICIPANT IN THE  TWENTY-FIVE  YEAR  IMPROVED  BENEFIT
 RETIREMENT  PROGRAM WHICH ARE GREATER THAN THOSE WHICH WOULD BE RECEIVED
 BY A SIMILARLY SITUATED MEMBER WHO IS ENTITLED  TO  BENEFITS  UNDER  THE
 PROVISIONS  OF  SECTION  13-157.2 OF THE ADMINISTRATIVE CODE, BUT WHO IS
 NOT GOVERNED BY THE PROVISIONS OF THIS ARTICLE.
   § 5. The retirement and social security law is amended by adding a new
 section 604-j to read as follows:
   § 604-J. TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  FOR  FIRE  PROTECTION
 INSPECTOR  MEMBERS.  A.  DEFINITIONS. THE FOLLOWING WORDS AND PHRASES AS
 USED IN THIS SECTION SHALL HAVE THE FOLLOWING MEANINGS UNLESS A  DIFFER-
 ENT MEANING IS PLAINLY REQUIRED BY THE CONTEXT.
   1.  "FIRE  PROTECTION  INSPECTOR  MEMBER"  SHALL  MEAN A MEMBER WHO IS
 EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY FIRE DEPARTMENT
 IN A TITLE WHOSE DUTIES ARE THOSE OF  A  FIRE  PROTECTION  INSPECTOR  OR
 ASSOCIATE  FIRE PROTECTION INSPECTOR; OR IN A TITLE WHOSE DUTIES REQUIRE
 THE SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE THOSE OF A FIRE PROTECTION
 INSPECTOR OR ASSOCIATE FIRE PROTECTION INSPECTOR.
   2. "TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL MEAN ALL THE TERMS  AND
 CONDITIONS OF THIS SECTION.
   3.  "STARTING  DATE  OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL
 MEAN THE DATE OF ENACTMENT OF THIS SECTION.
   4. "PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM" SHALL MEAN
 ANY  FIRE  PROTECTION  INSPECTOR  MEMBER  WHO,  UNDER   THE   APPLICABLE
 PROVISIONS  OF SUBDIVISION B OF THIS SECTION, IS ENTITLED TO THE RIGHTS,
 BENEFITS AND PRIVILEGES AND IS SUBJECT TO THE OBLIGATIONS OF  THE  TWEN-
 TY-FIVE YEAR RETIREMENT PROGRAM, AS APPLICABLE TO HIM OR HER.
   5.  "DISCONTINUED  MEMBER" SHALL MEAN A PARTICIPANT IN THE TWENTY-FIVE
 YEAR RETIREMENT PROGRAM WHO, WHILE HE  OR  SHE  WAS  A  FIRE  PROTECTION
 INSPECTOR  MEMBER, DISCONTINUED SERVICE AS SUCH A MEMBER AND HAS A RIGHT
 TO A DEFERRED VESTED BENEFIT UNDER SUBDIVISION D OF THIS SECTION.
   6. "ADMINISTRATIVE CODE" SHALL MEAN THE  ADMINISTRATIVE  CODE  OF  THE
 CITY OF NEW YORK.
   7.  "ALLOWABLE  SERVICE  AS  A FIRE PROTECTION INSPECTOR MEMBER" SHALL
 MEAN ALL SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER.
   B. PARTICIPATION IN TWENTY-FIVE YEAR RETIREMENT PROGRAM. 1. SUBJECT TO
 THE PROVISIONS OF PARAGRAPHS SIX AND  SEVEN  OF  THIS  SUBDIVISION,  ANY
 PERSON WHO IS A FIRE PROTECTION INSPECTOR MEMBER ON THE STARTING DATE OF
 THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  AND  WHO,  AS  SUCH  A FIRE
 PROTECTION INSPECTOR MEMBER OR OTHERWISE, LAST  BECAME  SUBJECT  TO  THE
 PROVISIONS  OF  THIS  ARTICLE  PRIOR TO SUCH STARTING DATE, MAY ELECT TO
 BECOME A PARTICIPANT IN  THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  BY
 FILING,  WITHIN  ONE  HUNDRED EIGHTY DAYS AFTER THE STARTING DATE OF THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM, A  DULY  EXECUTED  APPLICATION  FOR
 SUCH  PARTICIPATION WITH THE RETIREMENT SYSTEM OF WHICH SUCH PERSON IS A
 MEMBER, PROVIDED HE OR SHE IS SUCH A FIRE PROTECTION INSPECTOR MEMBER ON
 THE DATE SUCH APPLICATION IS FILED.
   2. SUBJECT TO THE PROVISIONS OF  PARAGRAPHS  SIX  AND  SEVEN  OF  THIS
 SUBDIVISION,  ANY  PERSON WHO BECOMES A FIRE PROTECTION INSPECTOR MEMBER

 S. 6102--B                         13
 
 AFTER THE STARTING DATE OF THE TWENTY-FIVE YEAR RETIREMENT  PROGRAM  AND
 WHO,  AS  SUCH  A  FIRE  PROTECTION  INSPECTOR MEMBER OR OTHERWISE, LAST
 BECAME SUBJECT TO THE PROVISIONS OF THIS ARTICLE PRIOR TO SUCH  STARTING
 DATE,  MAY ELECT TO BECOME A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIRE-
 MENT PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY  DAYS  AFTER  BECOMING
 SUCH A FIRE PROTECTION INSPECTOR MEMBER, A DULY EXECUTED APPLICATION FOR
 SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM FOR WHICH SUCH PERSON IS A
 MEMBER,  PROVIDED  THAT  HE  OR  SHE IS SUCH A FIRE PROTECTION INSPECTOR
 MEMBER ON THE DATE SUCH APPLICATION IS FILED.
   3. EACH FIRE PROTECTION INSPECTOR MEMBER, OTHER THAN A FIRE PROTECTION
 INSPECTOR MEMBER SUBJECT TO PARAGRAPH ONE OR TWO  OF  THIS  SUBDIVISION,
 WHO  BECOMES  SUBJECT  TO THE PROVISIONS OF THIS ARTICLE ON OR AFTER THE
 STARTING DATE OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM SHALL BECOME  A
 PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM ON THE DATE HE OR
 SHE  BECOMES SUCH A FIRE PROTECTION INSPECTOR MEMBER. PROVIDED, HOWEVER,
 A PERSON SUBJECT TO THIS PARAGRAPH, AND WHO HAS EXCEEDED AGE TWENTY-FIVE
 UPON EMPLOYMENT AS A FIRE PROTECTION INSPECTOR MEMBER, SHALL  BE  EXEMPT
 FROM  PARTICIPATION  IN THE IMPROVED TWENTY-FIVE YEAR RETIREMENT PROGRAM
 IF SUCH PERSON ELECTS NOT TO PARTICIPATE BY FILING A DULY EXECUTED  FORM
 WITH  THE RETIREMENT SYSTEM WITHIN ONE HUNDRED EIGHTY DAYS OF BECOMING A
 FIRE PROTECTION INSPECTOR MEMBER.
   4. ANY ELECTION TO BE A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT
 PROGRAM SHALL BE IRREVOCABLE.
   5. WHERE ANY PARTICIPANT IN THE TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM
 SHALL  CEASE TO BE EMPLOYED AS A FIRE PROTECTION MEMBER, HE OR SHE SHALL
 CEASE TO BE SUCH A PARTICIPANT AND, DURING  ANY  PERIOD  IN  WHICH  SUCH
 PERSON  IS  NOT SO EMPLOYED, HE OR SHE SHALL NOT BE A PARTICIPANT IN THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM AND SHALL NOT BE  ELIGIBLE  FOR  THE
 BENEFITS OF SUBDIVISION C OF THIS SECTION.
   6.  WHERE  ANY  PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM
 TERMINATES SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER AND RETURNS  TO
 SUCH  SERVICE  AS A FIRE PROTECTION INSPECTOR MEMBER AT A LATER DATE, HE
 OR SHE SHALL AGAIN BECOME SUCH A PARTICIPANT ON THAT DATE.
   7. NOTWITHSTANDING ANY OTHER PROVISION OF THE LAW TO THE CONTRARY, ANY
 PERSON WHO IS ELIGIBLE TO ELECT TO BECOME A PARTICIPANT IN  THE  TWENTY-
 FIVE  YEAR  RETIREMENT  PROGRAM PURSUANT TO PARAGRAPH ONE OR TWO OF THIS
 SUBDIVISION FOR THE FULL ONE HUNDRED EIGHTY DAY PERIOD PROVIDED  FOR  IN
 SUCH  APPLICABLE  PARAGRAPH AND WHO FAILS TO TIMELY FILE A DULY EXECUTED
 APPLICATION FOR SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM, SHALL NOT
 THEREAFTER BE ELIGIBLE TO BECOME A PARTICIPANT IN SUCH PROGRAM.
   C. SERVICE RETIREMENT BENEFITS.  1. A PARTICIPANT IN  THE  TWENTY-FIVE
 YEAR RETIREMENT PROGRAM:
   (I)  WHO  HAS COMPLETED TWENTY-FIVE OR MORE YEARS OF ALLOWABLE SERVICE
 AS A FIRE PROTECTION MEMBER, AND
   (II) WHO HAS PAID, BEFORE THE EFFECTIVE DATE OF RETIREMENT, ALL  ADDI-
 TIONAL  MEMBER  CONTRIBUTIONS AND INTEREST (IF ANY) REQUIRED BY SUBDIVI-
 SION E OF THIS SECTION; AND
   (III) WHO FILES WITH THE RETIREMENT SYSTEM OF WHICH HE  OR  SHE  IS  A
 MEMBER AN APPLICATION FOR SERVICE RETIREMENT SETTING FORTH AT WHAT TIME,
 NOT  LESS THAN THIRTY DAYS SUBSEQUENT TO THE EXECUTION AND FILING THERE-
 OF, HE OR SHE DESIRES TO BE RETIRED; AND
   (IV) WHO SHALL BE A PARTICIPANT IN  THE  TWENTY-FIVE  YEAR  RETIREMENT
 PROGRAM  AT  THE  TIME  SO SPECIFIED FOR HIS OR HER RETIREMENT, SHALL BE
 RETIRED PURSUANT TO THE  PROVISIONS  OF  THIS  SECTION  AFFORDING  EARLY
 SERVICE RETIREMENT.

 S. 6102--B                         14
 
   2.  NOTWITHSTANDING  AN  OTHER  PROVISION  OF LAW TO THE CONTRARY, AND
 SUBJECT TO THE PROVISIONS OF PARAGRAPH SIX  OF  SUBDIVISION  E  OF  THIS
 SECTION,  THE  EARLY  SERVICE RETIREMENT BENEFIT FOR PARTICIPANTS IN THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM WHO RETIRE PURSUANT TO PARAGRAPH ONE
 OF THIS SUBDIVISION SHALL BE A RETIREMENT ALLOWANCE CONSISTING OF:
   (I)  AN  AMOUNT, ON ACCOUNT OF THE REQUIRED MINIMUM PERIOD OF SERVICE,
 EQUAL TO FIFTY PERCENT OF HIS OR HER FINAL AVERAGE SALARY; PLUS
   (II) AN AMOUNT ON ACCOUNT OF ALLOWABLE SERVICE AS  A  FIRE  PROTECTION
 MEMBER,  OR  FRACTION  THEREOF,  BEYOND  SUCH REQUIRED MINIMUM PERIOD OF
 SERVICE EQUAL TO TWO PERCENT OF HIS OR HER FINAL SALARY FOR SUCH  ALLOW-
 ABLE  SERVICE  AS  A  FIRE  PROTECTION  MEMBER  DURING  THE  PERIOD FROM
 COMPLETION  OF  TWENTY-FIVE  YEARS  OF  ALLOWABLE  SERVICE  AS  A   FIRE
 PROTECTION  MEMBER TO THE DATE OF RETIREMENT BUT NOT TO EXCEED MORE THAN
 FIVE YEARS OF ADDITIONAL SERVICE AS A FIRE PROTECTION MEMBER.
   D. VESTING. 1.  A  PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR  RETIREMENT
 PROGRAM:
   (I)  WHO  DISCONTINUES  SERVICE  AS  SUCH A PARTICIPANT, OTHER THAN BY
 DEATH OR RETIREMENT; AND
   (II) IN THE CASE OF A PARTICIPANT WHO IS NOT A NEW YORK  CITY  REVISED
 PLAN  MEMBER,  WHO PRIOR TO SUCH DISCONTINUANCE, COMPLETED FIVE BUT LESS
 THAN THAN TWENTY-FIVE YEARS OF ALLOWABLE SERVICE AS  A  FIRE  PROTECTION
 MEMBER  OR,  IN THE CASE OF A PARTICIPANT WHO IS A NEW YORK CITY REVISED
 PLAN MEMBER, WHO PRIOR TO SUCH DISCONTINUANCE, COMPLETED  TEN  BUT  LESS
 THAN TWENTY-FIVE YEARS OF ALLOWABLE SERVICE AS A FIRE PROTECTION MEMBER;
 AND
   (III) WHO, SUBJECT TO THE PROVISIONS OF PARAGRAPH SEVEN OF SUBDIVISION
 E  OF  THIS  SECTION,  HAS PAID, PRIOR TO SUCH DISCONTINUANCE, ALL ADDI-
 TIONAL MEMBER CONTRIBUTIONS AND INTEREST (IF ANY) REQUIRED  BY  SUBDIVI-
 SION E OF THIS SECTION; AND
   (IV)  WHO DOES NOT WITHDRAW IN WHOLE OR IN PART HIS OR HER ACCUMULATED
 MEMBER CONTRIBUTIONS PURSUANT TO SECTION SIX HUNDRED  THIRTEEN  OF  THIS
 ARTICLE UNLESS SUCH PARTICIPANT THEREAFTER RETURNS TO PUBLIC SERVICE AND
 REPAYS  THE  AMOUNTS  SO  WITHDRAWN, TOGETHER WITH INTEREST, PURSUANT TO
 SUCH SECTION SIX HUNDRED  THIRTEEN;  SHALL  BE  ENTITLED  TO  RECEIVE  A
 DEFERRED VESTED BENEFIT AS PROVIDED IN THIS SUBDIVISION.
   2. (I) UPON SUCH DISCONTINUANCE UNDER THE CONDITIONS AND IN COMPLIANCE
 WITH  THE PROVISIONS OF PARAGRAPH ONE OF THIS SUBDIVISION, SUCH DEFERRED
 VESTED BENEFIT SHALL VEST AUTOMATICALLY.
   (II) IN THE CASE OF A PARTICIPANT WHO IS NOT A NEW YORK  CITY  REVISED
 PLAN  MEMBER,  SUCH  VESTED BENEFIT SHALL BECOME PAYABLE ON THE EARLIEST
 DATE ON WHICH SUCH DISCONTINUED MEMBER COULD HAVE RETIRED FOR SERVICE IF
 SUCH DISCONTINUANCE HAD NOT OCCURRED OR, IN THE CASE  OF  A  PARTICIPANT
 WHO  IS  A  NEW YORK CITY REVISED PLAN MEMBER, SUCH VESTED BENEFIT SHALL
 BECOME PAYABLE AT AGE SIXTY-THREE. SUBJECT TO THE  PROVISIONS  OF  PARA-
 GRAPH SEVEN OF SUBDIVISION E OF THIS SECTION, SUCH DEFERRED VESTED BENE-
 FIT SHALL BE A RETIREMENT ALLOWANCE CONSISTING OF AN AMOUNT EQUAL TO TWO
 PERCENT  OF  SUCH DISCONTINUED MEMBER'S FINAL AVERAGE SALARY, MULTIPLIED
 BY THE NUMBER OF YEARS OF ALLOWABLE SERVICE.
   E. ADDITIONAL MEMBER CONTRIBUTIONS.  1.  IN  ADDITION  TO  THE  MEMBER
 CONTRIBUTIONS  REQUIRED BY SECTION SIX HUNDRED THIRTEEN OF THIS ARTICLE,
 EACH PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM  SHALL
 CONTRIBUTE  TO  THE  RETIREMENT  SYSTEM  OF  WHICH HE OR SHE IS A MEMBER
 (SUBJECT TO THE APPLICABLE PROVISIONS OF SUBDIVISION D  OF  SECTION  SIX
 HUNDRED  THIRTEEN  OF  THIS ARTICLE) AN ADDITIONAL SIX PERCENT OF HIS OR
 HER COMPENSATION EARNED FROM (I) ALL ALLOWABLE SERVICE, AS A PARTICIPANT
 IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM, RENDERED  ON  OR  AFTER  THE

 S. 6102--B                         15
 
 STARTING  DATE  OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM, AND (II) ALL
 ALLOWABLE SERVICE AFTER SUCH PERSON CEASES  TO  BE  A  PARTICIPANT,  BUT
 BEFORE  HE  OR SHE AGAIN BECOMES A PARTICIPANT PURSUANT TO PARAGRAPH SIX
 OF  SUBDIVISION B OF THIS SECTION. THE ADDITIONAL CONTRIBUTIONS REQUIRED
 BY THIS SECTION SHALL BE IN  LIEU  OF  ADDITIONAL  MEMBER  CONTRIBUTIONS
 REQUIRED  BY SUBDIVISION D OF SECTION SIX HUNDRED FOUR-C OF THIS CHAPTER
 AS ADDED BY CHAPTER NINETY-SIX OF THE LAWS OF NINETEEN  HUNDRED  NINETY-
 FIVE,  AND  NO  MEMBER  MAKING ADDITIONAL CONTRIBUTIONS PURSUANT TO THIS
 SECTION SHALL BE REQUIRED TO MAKE CONTRIBUTIONS PURSUANT TO SUCH  SUBDI-
 VISION D OF SECTION SIX HUNDRED FOUR-C OF THIS CHAPTER.
   2.  A  PARTICIPANT  IN  THE  TWENTY-FIVE YEAR RETIREMENT PROGRAM SHALL
 CONTRIBUTE ADDITIONAL MEMBER CONTRIBUTIONS UNTIL THE LATER  OF  (I)  THE
 FIRST  ANNIVERSARY  OF THE STARTING DATE OF THE TWENTY-FIVE YEAR RETIRE-
 MENT PROGRAM, OR (II) THE DATE ON WHICH HE OR SHE COMPLETES THIRTY YEARS
 OF ALLOWABLE SERVICE AS A FIRE PROTECTION INSPECTOR MEMBER.
   3. COMMENCING WITH THE FIRST FULL PAYROLL  PERIOD  AFTER  EACH  PERSON
 BECOMES  A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM, ADDI-
 TIONAL MEMBER CONTRIBUTIONS AT THE RATE SPECIFIED IN  PARAGRAPH  ONE  OF
 THIS SUBDIVISION SHALL BE DEDUCTED (SUBJECT TO THE APPLICABLE PROVISIONS
 OF  SUBDIVISION  D OF SECTION SIX HUNDRED THIRTEEN OF THIS ARTICLE) FROM
 THE COMPENSATION OF SUCH PARTICIPANT ON EACH AND EVERY PAYROLL  OF  SUCH
 PARTICIPANT  FOR  EACH  AND  EVERY PAYROLL PERIOD FOR WHICH HE OR SHE IS
 SUCH A PARTICIPANT.
   4. (I) EACH PARTICIPANT IN THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM
 SHALL  BE CHARGED WITH A CONTRIBUTION DEFICIENCY CONSISTING OF THE TOTAL
 AMOUNTS OF ADDITIONAL MEMBER CONTRIBUTIONS SUCH PERSON  IS  REQUIRED  TO
 MAKE  PURSUANT  TO  PARAGRAPHS ONE AND TWO OF THIS SUBDIVISION WHICH ARE
 NOT DEDUCTED FROM HIS OR HER COMPENSATION PURSUANT TO PARAGRAPH THREE OF
 THIS SUBDIVISION, IF ANY, TOGETHER  WITH  INTEREST  THEREON,  COMPOUNDED
 ANNUALLY,  AND  COMPUTED  IN  ACCORDANCE WITH THE PROVISIONS OF SUBPARA-
 GRAPHS (II) AND (III) OF THIS PARAGRAPH.
   (II)(A) THE INTEREST REQUIRED TO BE PAID ON EACH SUCH AMOUNT SPECIFIED
 IN SUBPARAGRAPH (I) OF THIS PARAGRAPH SHALL ACCRUE FROM THE END  OF  THE
 PAYROLL  PERIOD  FOR  WHICH  SUCH  AMOUNT  WOULD HAVE BEEN DEDUCTED FROM
 COMPENSATION IF HE OR SHE HAD BEEN A PARTICIPANT  AT  THE  BEGINNING  OF
 THAT  PAYROLL  PERIOD  AND  SUCH  DEDUCTION  HAD  BEEN REQUIRED FOR SUCH
 PAYROLL PERIOD, UNTIL SUCH AMOUNT IS PAID TO THE RETIREMENT SYSTEM.
   (B) THE RATE OF INTEREST TO BE APPLIED TO EACH SUCH AMOUNT DURING  THE
 PERIOD  FOR  WHICH INTEREST ACCRUES ON THAT AMOUNT SHALL BE EQUAL TO THE
 RATE OR RATES OF INTEREST REQUIRED BY LAW TO BE USED  DURING  THAT  SAME
 PERIOD  TO  CREDIT  INTEREST ON THE ACCUMULATED DEDUCTIONS OF RETIREMENT
 SYSTEM MEMBERS.
   (III) EXCEPT AS OTHERWISE PROVIDED IN PARAGRAPH FIVE OF THIS  SUBDIVI-
 SION,  NO INTEREST SHALL BE DUE ON ANY UNPAID ADDITIONAL MEMBER CONTRIB-
 UTIONS WHICH ARE NOT ATTRIBUTABLE TO A PERIOD PRIOR TO  THE  FIRST  FULL
 PAYROLL PERIOD REFERRED TO IN PARAGRAPH THREE OF THIS SUBDIVISION.
   5.  (I)  SHOULD ANY PERSON WHO, PURSUANT TO SUBPARAGRAPH (II) OF PARA-
 GRAPH TEN OF THIS SUBDIVISION, HAS RECEIVED A REFUND OF HIS OR HER ADDI-
 TIONAL MEMBER CONTRIBUTION INCLUDING ANY INTEREST PAID ON SUCH  CONTRIB-
 UTIONS,  AGAIN  BECOME  A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT
 PROGRAM PURSUANT TO PARAGRAPH SIX OF SUBDIVISION B OF THIS  SECTION,  AN
 APPROPRIATE  AMOUNT SHALL BE INCLUDED IN SUCH PARTICIPANT'S CONTRIBUTION
 DEFICIENCY (INCLUDING INTEREST THEREON AS CALCULATED PURSUANT TO SUBPAR-
 AGRAPH (II) OF THIS PARAGRAPH) FOR ANY ALLOWABLE SERVICE FOR WHICH  SUCH
 PERSON  RECEIVED  A  REFUND  OF  SUCH  ADDITIONAL  MEMBER  CONTRIBUTIONS
 (INCLUDING ANY AMOUNT OF AN UNPAID LOAN  BALANCE  DEEMED  TO  HAVE  BEEN

 S. 6102--B                         16
 
 RETURNED  TO  SUCH  PERSON PURSUANT TO PARAGRAPH TWELVE OF THIS SUBDIVI-
 SION), AS IF SUCH ADDITIONAL MEMBER CONTRIBUTIONS NEVER HAD BEEN PAID.
   (II)  (A)  INTEREST ON A PARTICIPANT'S ADDITIONAL MEMBER CONTRIBUTIONS
 INCLUDED IN  SUCH  PARTICIPANT'S  CONTRIBUTION  DEFICIENCY  PURSUANT  TO
 SUBPARAGRAPH  (I) OF THIS PARAGRAPH SHALL BE CALCULATED AS IF SUCH ADDI-
 TIONAL MEMBER CONTRIBUTIONS HAD NEVER BEEN PAID BY SUCH PARTICIPANT, AND
 SUCH INTEREST SHALL ACCRUE FROM THE END OF THE PAYROLL PERIOD  TO  WHICH
 AN AMOUNT OF SUCH ADDITIONAL MEMBER CONTRIBUTIONS IS ATTRIBUTABLE, UNTIL
 SUCH AMOUNT IS PAID TO THE RETIREMENT SYSTEM.
   (B)  THE RATE OF INTEREST TO BE APPLIED TO EACH SUCH AMOUNT DURING THE
 PERIOD FOR WHICH INTEREST ACCRUES ON THAT AMOUNT SHALL BE  FIVE  PERCENT
 PER ANNUM, COMPOUNDED ANNUALLY.
   6.   WHERE A PARTICIPANT WHO IS OTHERWISE ELIGIBLE FOR SERVICE RETIRE-
 MENT PURSUANT TO SUBDIVISION C OF THIS SECTION DID  NOT,  PRIOR  TO  THE
 EFFECTIVE  DATE  OF  RETIREMENT, PAY THE ENTIRE AMOUNT OF A CONTRIBUTION
 DEFICIENCY CHARGEABLE TO HIM OR HER PURSUANT TO PARAGRAPHS FOUR AND FIVE
 OF THIS SUBDIVISION, OR REPAY THE ENTIRE AMOUNT OF A LOAN OF HIS OR  HER
 ADDITIONAL  MEMBER  CONTRIBUTIONS  PURSUANT  TO PARAGRAPH ELEVEN OF THIS
 SUBDIVISION (INCLUDING ACCRUED INTEREST ON SUCH LOAN), THAT PARTICIPANT,
 NEVERTHELESS, SHALL BE ELIGIBLE TO RETIRE PURSUANT TO SUBDIVISION  C  OF
 THIS SECTION, PROVIDED, HOWEVER, THAT SUCH PARTICIPANT'S SERVICE RETIRE-
 MENT  BENEFIT CALCULATED PURSUANT TO PARAGRAPH TWO OF SUCH SUBDIVISION C
 SHALL BE REDUCED BY A LIFE ANNUITY (CALCULATED IN  ACCORDANCE  WITH  THE
 METHOD  SET  FORTH IN SUBDIVISION I OF SECTION SIX HUNDRED THIRTEEN-B OF
 THIS ARTICLE) WHICH IS ACTUARIALLY EQUIVALENT TO:
   (I) THE AMOUNT OF ANY UNPAID  CONTRIBUTION  DEFICIENCY  CHARGEABLE  TO
 SUCH  MEMBER  PURSUANT  TO PARAGRAPHS FOUR AND FIVE OF THIS SUBDIVISION;
 PLUS
   (II) THE AMOUNT OF ANY UNPAID BALANCE OF A LOAN OF HIS  OR  HER  ADDI-
 TIONAL  MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH ELEVEN OF THIS SUBDI-
 VISION (INCLUDING ACCRUED INTEREST ON SUCH LOAN).
   7. WHERE A PARTICIPANT WHO IS OTHERWISE ELIGIBLE FOR A VESTED RIGHT TO
 A DEFERRED BENEFIT PURSUANT TO SUBDIVISION D OF THIS  SECTION  DID  NOT,
 PRIOR TO THE DATE OF DISCONTINUANCE OF SERVICE, PAY THE ENTIRE AMOUNT OF
 A  CONTRIBUTION  DEFICIENCY  CHARGEABLE  TO HIM OR HER PURSUANT TO PARA-
 GRAPHS FOUR AND FIVE OF THIS SUBDIVISION, OR REPAY THE ENTIRE AMOUNT  OF
 A  LOAN  OF HIS OR HER ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO PARA-
 GRAPH ELEVEN OF THIS SUBDIVISION (INCLUDING  ACCRUED  INTEREST  ON  SUCH
 LOAN),  THAT  PARTICIPANT,  NEVERTHELESS, SHALL HAVE A VESTED RIGHT TO A
 DEFERRED BENEFIT PURSUANT TO SUBDIVISION D  OF  THIS  SECTION  PROVIDED,
 HOWEVER,  THAT  THE DEFERRED VESTED BENEFIT CALCULATED PURSUANT TO PARA-
 GRAPH THREE OF SUBDIVISION D SHALL BE REDUCED BY A LIFE ANNUITY  (CALCU-
 LATED  IN  ACCORDANCE  WITH  THE  METHOD  SET  FORTH IN SUBDIVISION I OF
 SECTION SIX HUNDRED THIRTEEN-B OF THIS  ARTICLE)  WHICH  IS  ACTUARIALLY
 EQUIVALENT TO:
   (I)  THE  AMOUNT  OF ANY UNPAID CONTRIBUTION CHARGEABLE TO SUCH MEMBER
 PURSUANT TO PARAGRAPHS FOUR AND FIVE OF THIS SUBDIVISION; PLUS
   (II) THE AMOUNT OF ANY UNPAID BALANCE OF A LOAN OF HIS  OR  HER  ADDI-
 TIONAL  MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH ELEVEN OF THIS SUBDI-
 VISION (INCLUDING ACCRUED INTEREST ON SUCH A LOAN).
   8. THE HEAD OF A RETIREMENT SYSTEM WHICH INCLUDES PARTICIPANTS IN  THE
 TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM IN ITS MEMBERSHIP MAY, CONSISTENT
 WITH THE PROVISIONS OF THIS SUBDIVISION, PROMULGATE REGULATIONS FOR  THE
 PAYMENT OF SUCH ADDITIONAL MEMBER CONTRIBUTIONS, AND ANY INTEREST THERE-
 ON, BY SUCH PARTICIPANTS (INCLUDING THE DEDUCTION OF SUCH CONTRIBUTIONS,
 AND ANY INTEREST THEREON, FROM THE PARTICIPANT'S COMPENSATION).

 S. 6102--B                         17
 
   9.  SUBJECT  TO  THE  PROVISIONS  OF  PARAGRAPHS SIX AND SEVEN OF THIS
 SUBDIVISION, WHERE A PARTICIPANT HAS NOT PAID IN FULL  ANY  CONTRIBUTION
 DEFICIENCY CHARGEABLE TO HIM OR HER PURSUANT TO PARAGRAPHS FOUR AND FIVE
 OF  THIS  SUBDIVISION,  AND  A  BENEFIT,  OTHER  THAN A REFUND OF MEMBER
 CONTRIBUTIONS  PURSUANT  TO SECTION SIX HUNDRED THIRTEEN OF THIS ARTICLE
 OR A REFUND OF ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO  SUBPARAGRAPH
 (II)  OF  PARAGRAPH  TEN OF THIS SUBDIVISION, BECOMES PAYABLE UNDER THIS
 ARTICLE TO THE PARTICIPANT OR TO HIS OR HER  DESIGNATED  BENEFICIARY  OR
 ESTATE,  THE  ACTUARIAL  EQUIVALENT  OF  ANY SUCH UNPAID AMOUNT SHALL BE
 DEDUCTED FROM THE BENEFIT OTHERWISE PAYABLE.
   10. (I) SUCH ADDITIONAL MEMBER CONTRIBUTIONS (AND ANY INTEREST  THERE-
 ON)  SHALL  BE  PAID  INTO THE CONTINGENT RESERVE FUND OF THE RETIREMENT
 SYSTEM OF WHICH THE PARTICIPANT IS  A  MEMBER  AND  SHALL  NOT  FOR  ANY
 PURPOSE  BE  DEEMED  TO  BE MEMBER CONTRIBUTIONS OR ACCUMULATED CONTRIB-
 UTIONS OF A MEMBER UNDER SECTION SIX HUNDRED THIRTEEN OF THIS ARTICLE OR
 OTHERWISE WHILE HE OR SHE IS  A  PARTICIPANT  IN  THE  TWENTY-FIVE  YEAR
 RETIREMENT PROGRAM OR OTHERWISE.
   (II)  SHOULD  A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM
 WHO HAS RENDERED LESS THAN FIFTEEN YEARS OF CREDITED  SERVICE  CEASE  TO
 HOLD  A  POSITION  AS  A FIRE PROTECTION INSPECTOR MEMBER FOR ANY REASON
 WHATSOEVER, HIS OR HER ACCUMULATED ADDITIONAL MEMBER CONTRIBUTIONS  MADE
 PURSUANT TO THIS SUBDIVISION (TOGETHER WITH ANY INTEREST THEREON PAID TO
 THE RETIREMENT SYSTEM) MAY BE WITHDRAWN BY HIM OR HER PURSUANT TO PROCE-
 DURES PROMULGATED IN REGULATIONS OF THE BOARD OF TRUSTEES OF THE RETIRE-
 MENT  SYSTEM, TOGETHER WITH INTEREST THEREON AT THE RATE OF FIVE PERCENT
 PER ANNUM, COMPOUNDED ANNUALLY.
   (III) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY,  (A)
 NO  PERSON SHALL BE PERMITTED TO WITHDRAW FROM THE RETIREMENT SYSTEM ANY
 ADDITIONAL MEMBER CONTRIBUTIONS PAID PURSUANT TO THIS SUBDIVISION OR ANY
 INTEREST PAID THEREON, EXCEPT PURSUANT TO AND  IN  ACCORDANCE  WITH  THE
 PRECEDING  SUBPARAGRAPHS  OF THIS PARAGRAPH; AND (B) NO PERSON, WHILE HE
 OR SHE IS A PARTICIPANT IN  THE  TWENTY-FIVE  YEAR  RETIREMENT  PROGRAM,
 SHALL  BE PERMITTED TO WITHDRAW ANY SUCH ADDITIONAL MEMBER CONTRIBUTIONS
 OR ANY INTEREST PAID THEREON PURSUANT TO ANY OF THE  PRECEDING  SUBPARA-
 GRAPHS OF THIS PARAGRAPH OR OTHERWISE.
   11.  A PARTICIPANT IN THE TWENTY-FIVE YEAR RETIREMENT PROGRAM SHALL BE
 PERMITTED TO BORROW FROM HIS  OR  HER  ADDITIONAL  MEMBER  CONTRIBUTIONS
 (INCLUDING  ANY  INTEREST  PAID THEREON) WHICH ARE CREDITED TO THE ADDI-
 TIONAL CONTRIBUTIONS ACCOUNT ESTABLISHED FOR  SUCH  PARTICIPANT  IN  THE
 CONTINGENT  RESERVE  FUND  OF  THE RETIREMENT SYSTEM. THE BORROWING FROM
 SUCH ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO THIS PARAGRAPH SHALL BE
 GOVERNED BY THE RIGHTS, PRIVILEGES, OBLIGATIONS AND PROCEDURES SET FORTH
 IN SECTION SIX HUNDRED THIRTEEN-B  OF  THIS  ARTICLE  WHICH  GOVERN  THE
 BORROWING  OF  MEMBER CONTRIBUTIONS MADE PURSUANT TO SECTION SIX HUNDRED
 THIRTEEN OF THIS ARTICLE. THE BOARD OF TRUSTEES OF THE RETIREMENT SYSTEM
 MAY,  CONSISTENT  WITH  THE  PROVISIONS  OF  THIS  SUBDIVISION  AND  THE
 PROVISIONS  OF  SECTION  SIX  HUNDRED THIRTEEN-B OF THIS ARTICLE AS MADE
 APPLICABLE TO THIS SUBDIVISION,  PROMULGATE  REGULATIONS  GOVERNING  THE
 BORROWING OF SUCH ADDITIONAL MEMBER CONTRIBUTIONS.
   12.  WHENEVER  A  PERSON HAS AN UNPAID BALANCE OF A LOAN OR HIS OR HER
 ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO  PARAGRAPH  ELEVEN  OF  THIS
 SUBDIVISION AT THE TIME HE OR SHE BECOMES ENTITLED TO A REFUND OF HIS OR
 HER  ADDITIONAL  MEMBER  CONTRIBUTIONS  PURSUANT TO SUBPARAGRAPH (II) OF
 PARAGRAPH TEN OF THIS  SUBDIVISION,  THE  AMOUNT  OF  SUCH  UNPAID  LOAN
 BALANCE  (INCLUDING  ACCRUED  INTEREST)  SHALL  BE  DEEMED  TO HAVE BEEN
 RETURNED TO SUCH MEMBER, AND THE REFUND OF SUCH ADDITIONAL CONTRIBUTIONS

 S. 6102--B                         18
 
 SHALL BE THE NET AMOUNT OF SUCH  CONTRIBUTION,  TOGETHER  WITH  INTEREST
 THEREON IN ACCORDANCE WITH THE PROVISIONS OF SUCH SUBPARAGRAPH (II).
   § 6. Subdivision d of section 613 of the retirement and social securi-
 ty law is amended by adding a new paragraph 12 to read as follows:
   12.  (I)  THE CITY OF NEW YORK SHALL, IN THE CASE OF A FIRE PROTECTION
 INSPECTOR MEMBER (AS DEFINED  IN  PARAGRAPH  ONE  OF  SUBDIVISION  A  OF
 SECTION  SIX HUNDRED FOUR-J OF THIS ARTICLE) WHO IS A PARTICIPANT IN THE
 TWENTY-FIVE YEAR RETIREMENT PROGRAM (AS DEFINED  IN  PARAGRAPH  FOUR  OF
 SUBDIVISION  A  OF  SUCH SECTION SIX HUNDRED FOUR-J), PICK UP AND PAY TO
 THE RETIREMENT SYSTEM OF WHICH SUCH PARTICIPANT IS A  MEMBER  ALL  ADDI-
 TIONAL  MEMBER  CONTRIBUTIONS  WHICH  OTHERWISE  WOULD BE REQUIRED TO BE
 DEDUCTED FROM SUCH MEMBER'S COMPENSATION PURSUANT TO PARAGRAPHS ONE  AND
 TWO  OF  SUBDIVISION E OF SUCH SECTION SIX HUNDRED FOUR-J (NOT INCLUDING
 ANY ADDITIONAL MEMBER CONTRIBUTIONS DUE FOR  ANY  PERIOD  PRIOR  TO  THE
 FIRST  FULL PAYROLL PERIOD REFERRED TO IN PARAGRAPH THREE OF SUCH SUBDI-
 VISION E), AND SHALL EFFECT SUCH PICK UP IN EACH AND  EVERY  PAYROLL  OF
 SUCH PARTICIPANT FOR EACH AND EVERY PAYROLL PERIOD WITH RESPECT TO WHICH
 SUCH PARAGRAPH THREE WOULD OTHERWISE REQUIRE SUCH DEDUCTIONS.
   (II)  AN AMOUNT EQUAL TO THE AMOUNT OF ADDITIONAL CONTRIBUTIONS PICKED
 UP PURSUANT TO THIS PARAGRAPH SHALL BE DEDUCTED BY  SUCH  EMPLOYER  FROM
 THE  COMPENSATION  OF  SUCH MEMBER (AS SUCH COMPENSATION WOULD BE IN THE
 ABSENCE OF A PICK UP PROGRAM APPLICABLE TO HIM OR HER) AND SHALL NOT  BE
 PAID TO SUCH MEMBER.
   (III)  THE  ADDITIONAL MEMBER CONTRIBUTIONS PICKED UP PURSUANT TO THIS
 PARAGRAPH FOR ANY SUCH MEMBER SHALL BE PAID BY SUCH EMPLOYER IN LIEU  OF
 AN EQUAL AMOUNT OF ADDITIONAL MEMBER CONTRIBUTIONS OTHERWISE REQUIRED TO
 BE  PAID BY SUCH MEMBER UNDER THE APPLICABLE PROVISIONS OF SUBDIVISION E
 OF SECTION SIX HUNDRED FOUR-J OF THIS ARTICLE, AND SHALL BE DEEMED TO BE
 AND TREATED AS EMPLOYER CONTRIBUTIONS PURSUANT TO SECTION 414(H) OF  THE
 INTERNAL REVENUE CODE.
   (IV)  FOR  THE  PURPOSE  OF  DETERMINING THE RETIREMENT SYSTEM RIGHTS,
 BENEFITS AND PRIVILEGES OF ANY MEMBER WHOSE ADDITIONAL  MEMBER  CONTRIB-
 UTIONS  ARE  PICKED  UP PURSUANT TO THIS PARAGRAPH, SUCH PICKED UP ADDI-
 TIONAL MEMBER CONTRIBUTIONS SHALL BE DEEMED TO BE AND TREATED AS PART OF
 SUCH MEMBER'S  ADDITIONAL  MEMBER  CONTRIBUTIONS  UNDER  THE  APPLICABLE
 PROVISIONS  OF SUBDIVISION E OF SECTION SIX HUNDRED FOUR-J OF THIS ARTI-
 CLE.
   (V) WITH THE EXCEPTION OF FEDERAL INCOME TAX TREATMENT, THE ADDITIONAL
 MEMBER CONTRIBUTIONS PICKED UP PURSUANT  TO  SUBPARAGRAPH  (I)  OF  THIS
 PARAGRAPH SHALL FOR ALL OTHER PURPOSES, INCLUDING COMPUTATION OF RETIRE-
 MENT  BENEFITS  AND  CONTRIBUTIONS BY EMPLOYERS AND EMPLOYEES, BE DEEMED
 EMPLOYEE  SALARY.  NOTHING  CONTAINED  IN  THIS  SUBDIVISION  SHALL   BE
 CONSTRUED  AS SUPERSEDING THE PROVISIONS OF SECTION FOUR HUNDRED THIRTY-
 ONE OF THIS CHAPTER, OR ANY SIMILAR PROVISION OF LAW  WHICH  LIMITS  THE
 SALARY  BASE  FOR  COMPUTING  RETIREMENT  BENEFITS  PAYABLE  BY A PUBLIC
 RETIREMENT SYSTEM.
   § 7. Section 13-125.2 of the administrative code of the  city  of  New
 York is amended by adding a new subdivision a-9 to read as follows:
   A-9. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, ON OR
 AFTER  THE  STARTING DATE FOR PICK UP, THE EMPLOYER RESPONSIBLE FOR PICK
 UP SHALL, IN THE CASE OF A FIRE PROTECTION INSPECTOR MEMBER (AS  DEFINED
 IN  PARAGRAPH  TWO OF SUBDIVISION A OF SECTION FOUR HUNDRED FORTY-FIVE-J
 OF THE RETIREMENT AND SOCIAL SECURITY LAW) WHO IS A PARTICIPANT  IN  THE
 TWENTY-FIVE  YEAR  IMPROVED  BENEFIT  RETIREMENT  PROGRAM (AS DEFINED IN
 PARAGRAPH THREE OF SUCH SUBDIVISION A), PICK UP AND  PAY  TO  RETIREMENT
 SYSTEM  ALL  ADDITIONAL  MEMBER  CONTRIBUTIONS  WHICH OTHERWISE WOULD BE

 S. 6102--B                         19
 
 REQUIRED TO BE DEDUCTED FROM  SUCH  MEMBER'S  COMPENSATION  PURSUANT  TO
 SUBDIVISION  D  OF  SUCH  SECTION  FOUR  HUNDRED FORTY-FIVE-J, AND SHALL
 EFFECT SUCH PICK UP ON EACH AND EVERY PAYROLL OF  SUCH  PARTICIPANT  FOR
 EACH  AND  EVERY PAYROLL PERIOD WITH RESPECT TO WHICH SUCH SUBDIVISION D
 WOULD OTHERWISE REQUIRE SUCH DEDUCTIONS.
   § 8. Subparagraph (ii) of paragraph 1  of  subdivision  c  of  section
 13-125.2  of the administrative code of the city of New York, as amended
 by chapter 682 of the laws of 2003, is amended to read as follows:
   (ii) the determination of the amount of such member's Tier I  or  Tier
 II  nonuniformed-force  member contributions eligible for pick up by the
 employer or additional member contributions required  to  be  picked  up
 pursuant  to  subdivision a-one, subdivision a-two, subdivision a-three,
 subdivision a-four, subdivision a-five, subdivision  a-six,  subdivision
 a-seven [or], subdivision a-eight OR SUBDIVISION A-NINE of this section;
 and
   §  9.  Subdivision d of section 13-125.2 of the administrative code of
 the city of New York is amended by adding a new paragraph 2-h to read as
 follows:
   (2-H) FOR THE PURPOSE OF DETERMINING  THE  RETIREMENT  SYSTEM  RIGHTS,
 BENEFITS  AND PRIVILEGES OF ANY MEMBER WHO IS A PARTICIPANT IN THE TWEN-
 TY-FIVE YEAR RETIREMENT PROGRAM (AS DEFINED IN PARAGRAPH TWO OF SUBDIVI-
 SION A OF SECTION 13-157.5  OF  THIS  CHAPTER),  THE  ADDITIONAL  MEMBER
 CONTRIBUTIONS  OF  SUCH  PARTICIPANT  PICKED  UP PURSUANT TO SUBDIVISION
 A-NINE OF THIS SECTION SHALL BE DEEMED TO BE AND TREATED AS  A  PART  OF
 SUCH  MEMBER'S  ADDITIONAL  CONTRIBUTIONS  UNDER  SUBDIVISION  E OF SUCH
 SECTION 13-157.5.
   § 10. Paragraph 3 of subdivision d of section 13-125.2 of the adminis-
 trative code of the city of New York, as amended by chapter 682  of  the
 laws of 2003, is amended to read as follows:
   (3)  Interest  on  contributions  picked  up for any Tier I or Tier II
 non-uniformed-force member pursuant to this section  (other  than  addi-
 tional  member  contributions  picked  up pursuant to subdivision a-one,
 subdivision a-two, subdivision a-three, subdivision a-four,  subdivision
 a-five, subdivision a-six, subdivision a-seven [or], subdivision a-eight
 OR  SUBDIVISION  A-NINE  of  this  section) shall accrue in favor of the
 member and be payable to the retirement system at the same rate, for the
 same time periods, in the same manner and under the  same  circumstances
 as  interest  would  be required to accrue in favor of the member and be
 payable to the retirement system on such contributions if they were made
 by such member in the absence of a pick up program  applicable  to  such
 member under the provisions of this section.
   §  11. Subdivision a of section 603 of the retirement and social secu-
 rity law, as amended by chapter 18 of the laws of 2012,  is  amended  to
 read as follows:
   a.  The  service  retirement  benefit specified in section six hundred
 four of this article shall be payable to members who have met the  mini-
 mum  service  requirements  upon retirement and attainment of age sixty-
 two, other than members who are eligible for  early  service  retirement
 pursuant to subdivision c of section six hundred four-b of this article,
 subdivision c of section six hundred four-c of this article, subdivision
 d  of  section  six  hundred  four-d  of  this article, subdivision c of
 section six hundred four-e of this article, subdivision c of section six
 hundred four-f of this article, subdivision c  of  section  six  hundred
 four-g  of  this article, subdivision c of section six hundred four-h of
 this article [or], subdivision c of section six hundred four-i  of  this
 article,  OR SUBDIVISION C OF SECTION SIX HUNDRED FOUR-J OF THIS ARTICLE

 S. 6102--B                         20
 
 provided, however, a member of a teachers' retirement system or the  New
 York  state  and local employees' retirement system who first joins such
 system before January first, two thousand ten  or  a  member  who  is  a
 uniformed  court  officer or peace officer employed by the unified court
 system who first becomes a member  of  the  New  York  state  and  local
 employees' retirement system before April first, two thousand twelve may
 retire  without  reduction of his or her retirement benefit upon attain-
 ment of at least fifty-five years of age and  completion  of  thirty  or
 more years of service, provided, however, that a uniformed court officer
 or  peace officer employed by the unified court system who first becomes
 a member of the New York state and local employees' retirement system on
 or after January first, two thousand ten and retires  without  reduction
 of  his or her retirement benefit upon attainment of at least fifty-five
 years of age and completion of thirty or more years of service  pursuant
 to  this  section  shall  be  required  to make the member contributions
 required by subdivision f of section six hundred thirteen of this  arti-
 cle  for  all years of credited and creditable service, provided further
 that the the preceding provisions of this subdivision shall not apply to
 a New York city revised plan member.
   § 12. Nothing contained in sections six and eleven of this  act  shall
 be  construed to create any contractual right with respect to members to
 whom such sections apply. The provisions of such sections  are  intended
 to  afford  members  the advantages of certain benefits contained in the
 internal revenue code, and  the  effectiveness  and  existence  of  such
 sections and benefits they confer are completely contingent thereon.
   § 13. This act shall take effect immediately, provided, however that:
   (a)  the  amendments to subdivision a of section 603 of the retirement
 and social security law made by section eleven of  this  act  shall  not
 affect  the expiration of such subdivision and shall be deemed to expire
 therewith;
   (b) the provisions of section six of this act shall  remain  in  force
 and  effect  only  so  long  as,  pursuant to federal law, contributions
 picked up under such section are not includable as  gross  income  of  a
 member  for federal income tax purposes until distributed or made avail-
 able to the member; and
   (c) the amendments to section 13-125.2 of the administrative  code  of
 the city of New York made by sections seven, eight, nine and ten of this
 act  shall  not affect the expiration of such provisions as provided for
 in section 16 of chapter 681 of the laws of 1992, as amended.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   SUMMARY OF BILL: This proposed legislation would amend  Administrative
 Code of the City of New York (ACCNY) Section 13-125.2 and Retirement and
 Social  Security  Law  (RSSL)  Sections  444, 445, 603, and 613, and add
 ACCNY Section 13-157.5 and RSSL Sections 445-j and 604-j to establish  a
 25-Year  Retirement  Program for Fire Protection Inspectors (FPI 25-Year
 Plan) for each tier.
   Effective Date: Upon enactment.
   MEMBERS ELIGIBLE TO JOIN: Members whose duties are one of the  follow-
 ing are eligible to participate in the FPI 25-Year Plan:
   * Fire Protection Inspector,
   * Associate Fire Protection Inspector,
   *  Supervisor of employees whose duties are those of a fire protection
 inspector, and
   * Supervisor of employees whose duties are those of an associate  fire
 protection inspector.

 S. 6102--B                         21
 
   For  purposes  of  this  Fiscal  Note,  these members are collectively
 referred to as "Fire Inspectors."
   Participation in an applicable FPI 25-Year Plan is optional for anyone
 who  is eligible to participate in such Plan on the date of enactment by
 filing an election form within 180 days of enactment. Anyone who  is  an
 existing  member  of  the  New  York  City  Employees' Retirement System
 (NYCERS) on the date of enactment and subsequently becomes employed as a
 Fire Inspector also has 180 days to elect to  join  the  applicable  FPI
 25-Year Plan.
   Any  Fire  Inspector  who  becomes  a  NYCERS member after the date of
 enactment is mandated into the Tier 6 FPI 25-Year Plan. However, if  the
 member exceeds age 25 upon being mandated into the FPI 25-Year Plan, the
 member  has the option, within 180 days of becoming a Fire Inspector, to
 elect not to participate.
   IMPACT ON BENEFITS: Currently, Fire Inspectors  generally  participate
 in  one of the NYCERS general plans (i.e. basic Tier 4 62/5 Plan, Tier 6
 63/10 Plan or Improved Tier 4 57/5, 55/25 Plans). Note that since  there
 is  only  one  Tier 2 Fire Inspector remaining, the following summary of
 the FPI 25-Year Plan is for Tier 4 and Tier 6 members only.
   The proposed legislation would provide the following benefits to  Fire
 Inspectors under the FPI 25-Year Plan:
   *  Service  retirement  benefit: Upon attaining 25 years of service, a
 benefit equal to 50% of Final Average Salary  (FAS)  for  the  first  25
 years  of  Allowable  Service plus 2% of FAS for each additional year of
 Allowable Service up to a maximum of 30 years of such service.
   * Final Average Salary:
     * Tier 4: Three Year Average (FAS3).
     * Tier 6: Five Year Average (FAS5).
   * Vested benefit:
     * Eligibility is:
         * Tier 4: At least five, but less than 25,  years  of  allowable
         service.
         *  Tier  6:  At  least  10, but less than 25, years of allowable
         service.
     * Payable at:
         * Tier 4: The date the member would have completed 25  years  of
         allowable service.
         * Tier 6: Age 63.
       * Amount:
         * 2% of FAS for each year of allowable service.
   *  Other benefits: Members of the proposed FPI 25-Year Plans are enti-
 tled to the same disability and death benefits as other Tier 4 and  Tier
 6 members under the respective basic plans.
   ADDITIONAL  MEMBER  CONTRIBUTIONS:  Members of an FPI 25-Year Plan are
 required to make, in addition to the Tier 4 Basic  Member  Contributions
 (BMC)  of  3%  and  the  Tier  6  BMC ranging from 3% to 6% depending on
 defined salary scales. Additional Member Contributions equal  to  6%  of
 compensation  for  all  allowable  service  as a Plan participant on and
 after the starting date of the FPI 25-Year Plans until the later  of  30
 years of service or the first anniversary of enactment of the Plans.
   FINANCIAL  IMPACT - ACTUARIAL PRESENT VALUES: Based on the anticipated
 group of members joining the FPI 25-Year Plans and the actuarial assump-
 tions and methods described  herein,  the  enactment  of  this  proposed
 legislation would increase the Actuarial Present Value (APV) of Benefits
 (APVB)  by  approximately  $0.9  million, and increase the APV of member

 S. 6102--B                         22
 
 contributions of approximately $0.3 million, resulting in an increase in
 the APV of future employer contributions of approximately $0.6 million.
   Under  the Entry Age Normal cost method used to determine the employer
 contributions to NYCERS, there would be  an  increase  in  the  Unfunded
 Accrued  Liability  (UAL)  of  approximately  $0.9  million  offset by a
 decrease in the APV of future employer Normal Cost of $0.3 million.
   FINANCIAL IMPACT - ANNUAL EMPLOYER CONTRIBUTIONS: In  accordance  with
 ACCNY Section 13-638.2(k-2), new UAL attributable to benefit changes are
 to  be  amortized  as  determined  by the Actuary but generally over the
 remaining working lifetime of those impacted by the benefit changes.  As
 of  June 30, 2017, the remaining working lifetime of the Fire Inspectors
 assumed to join the FPI 25-Year Plans is approximately five years.
   For the purposes of this Fiscal Note, the increase in  UAL  was  amor-
 tized  over  a  five-year  period  (four payments under the One-Year Lag
 Methodology) using level dollar payments. This payment plus the increase
 in the Normal Cost results in an increase in  annual  employer  contrib-
 utions  of  approximately  $342,000  each year, beginning in Fiscal Year
 2020.
   OTHER COSTS: Not measured in this Fiscal Note are the following:
   * The initial, additional administrative costs of NYCERS and other New
 York City agencies to implement the proposed legislation.
   * The impact of this  proposed  legislation  on  Other  Postemployment
 Benefit (OPEB) costs.
   CONTRIBUTION  TIMING:  For  the  purposes  of  this Fiscal Note, it is
 assumed that the changes in the APV of future employer contributions and
 annual employer contributions would be reflected for the first  time  in
 the  June 30, 2018 actuarial valuation of NYCERS. In accordance with the
 One-Year Lag Methodology (OYLM)  used  to  determine  employer  contrib-
 utions,  the increase in employer contributions would first be reflected
 in Fiscal Year 2020.
   CENSUS DATA: The estimates presented herein are based  on  the  census
 data  used in the Preliminary June 30, 2017 (Lag) actuarial valuation of
 NYCERS to determine the Preliminary Fiscal Year 2019  employer  contrib-
 utions.
   The  30  Fire  Inspectors  as of June 30, 2017 assumed to join the FPI
 25-Year Plans had an average age of approximately  55.9  years,  average
 service  of  approximately 25.6 years, and an average salary of approxi-
 mately $79,900.
   ACTUARIAL ASSUMPTIONS AND METHODS:   The changes in the  UAL,  APV  of
 future   employer   contributions,  and  annual  employer  contributions
 presented herein have been calculated based on the actuarial assumptions
 and methods in effect for the June 30, 2017 (Lag)  actuarial  valuations
 used  to  determine  the  Preliminary Fiscal Year 2019 employer contrib-
 utions of NYCERS. Please note that these  assumptions  and  methods  are
 subject  to  change  as this valuation is not considered final until the
 end of Fiscal Year 2019.
   To determine the impact of the elective nature of the proposed  legis-
 lation,  a subgroup of NYCERS Fire Inspectors was developed based on who
 could potentially benefit actuarially. The net APV  of  future  employer
 costs  (i.e.  the  APVB  less the APV of future member contributions) of
 each member's benefit was determined under their current plan and  under
 the  applicable FPI 25-Year Plan. If the net APV of future employer cost
 under the FPI 25-Year Plans was greater than or  equal  to  the  APV  of
 future  employer  cost  under  the member's current plan, the member was
 deemed to benefit actuarially.

 S. 6102--B                         23
 
   Based on this analysis, it was determined  that  those  who  have  the
 option  of  joining  the  FPI  Plan upon becoming a NYCERS member in the
 future will generally not benefit under the Plan (i.e. they will have  a
 decrease in APV of future employer costs as compared to the Tier 6 63/10
 Plan  they  would  otherwise participate in, absent this proposed legis-
 lation).  Therefore, it is assumed that these future  members  who  have
 the  option  of  joining  the Plan will choose to not participate in the
 Plan, and that future Plan participation will be limited to those  hired
 at the age of 25 or younger because they will be mandated into the Plan.
 Since  it  is  expected  that  very few, if any, Fire Inspectors will be
 hired at the age of 25 or younger, the costs presented  in  this  Fiscal
 Note are borne only from current NYCERS members who are assumed to bene-
 fit from, and thus opt to join, the applicable FPI-25 Year Plan.
   STATEMENT  OF ACTUARIAL OPINION: I, Sherry S. Chan, am the Chief Actu-
 ary for, and independent of, the New York City  Retirement  Systems  and
 Pension  Funds.  I  am a Fellow of the Society of Actuaries, an Enrolled
 Actuary under the Employee Retirement Income and Security  Act  of  1974
 (ERISA),  a Member of the American Academy of Actuaries, and a Fellow of
 the Conference of Consulting Actuaries. I meet the Qualification  Stand-
 ards  of the American Academy of Actuaries to render the actuarial opin-
 ion contained herein. To the best of my knowledge, the results contained
 herein have been prepared in accordance with generally accepted actuari-
 al principles and procedures and with the Actuarial Standards  of  Prac-
 tice issued by the Actuarial Standards Board.
   FISCAL  NOTE  IDENTIFICATION:  This Fiscal Note 2018-34 dated June 11,
 2018, was prepared by the Chief Actuary for the New York City Employees'
 Retirement System. This estimate is intended for  use  only  during  the
 2018 Legislative Session.