Senate Bill S8527

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8527
 
                             I N  S E N A T E
 
                               June 8, 2020
                                ___________
 
 Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN  ACT  to  amend  the  administrative code of the city of New York, in
   relation to the establishment of a twenty-two year retirement  program
   for members of the New York city employees' retirement system employed
   as  emergency medical technicians and advanced emergency medical tech-
   nicians; and to amend the  retirement  and  social  security  law,  in
   relation  to  the establishment of twenty-two 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-TWO YEAR RETIREMENT PROGRAM FOR  EMT  MEMBERS.    A.
 DEFINITIONS.  THE  FOLLOWING  WORDS  AND PHRASES AS USED IN THIS SECTION
 SHALL HAVE THE FOLLOWING MEANINGS UNLESS A DIFFERENT MEANING IS  PLAINLY
 REQUIRED BY THE CONTEXT.
   1.  "EMT  MEMBER" SHALL MEAN (I) A MEMBER OF THE RETIREMENT SYSTEM WHO
 IS EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY  HEALTH  AND
 HOSPITALS  CORPORATION IN A TITLE WHOSE DUTIES ARE THOSE OF AN EMERGENCY
 MEDICAL TECHNICIAN OR ADVANCED EMERGENCY MEDICAL  TECHNICIAN,  AS  THOSE
 TERMS  ARE  DEFINED  IN  SECTION THREE THOUSAND ONE OF THE PUBLIC HEALTH
 LAW, AND (II) A MEMBER OF THE RETIREMENT SYSTEM WHO,  ON  THE  EFFECTIVE
 DATE OF THIS SECTION OR THEREAFTER, WAS EMPLOYED BY THE CITY OF NEW YORK
 OR  BY  THE  NEW  YORK  CITY HEALTH AND HOSPITALS CORPORATION IN A TITLE
 WHOSE DUTIES REQUIRE THE SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE THOSE
 OF AN EMERGENCY MEDICAL TECHNICIAN OR ADVANCED EMERGENCY MEDICAL TECHNI-
 CIAN, AS THOSE TERMS ARE DEFINED IN SECTION THREE THOUSAND  ONE  OF  THE
 PUBLIC HEALTH LAW.
   2.  "TWENTY-TWO  YEAR RETIREMENT PROGRAM" SHALL MEAN ALL THE TERMS AND
 CONDITIONS OF THIS SECTION.
   3. "STARTING DATE OF THE TWENTY-TWO  YEAR  RETIREMENT  PROGRAM"  SHALL
 MEAN  THE  EFFECTIVE  DATE  OF  THIS  SECTION, AS SUCH DATE IS CERTIFIED
 PURSUANT TO SECTION FORTY-ONE OF THE LEGISLATIVE LAW.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD15122-03-0

 S. 8527                             2
 
   4. "PARTICIPANT IN THE TWENTY-TWO YEAR RETIREMENT PROGRAM" SHALL  MEAN
 ANY  EMT 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-TWO YEAR RETIREMENT PROGRAM AS
 APPLICABLE TO HIM OR HER.
   5.  "DISCONTINUED  MEMBER"  SHALL MEAN A PARTICIPANT IN THE TWENTY-TWO
 YEAR RETIREMENT PROGRAM WHO, WHILE HE OR SHE WAS AN EMT MEMBER,  DISCON-
 TINUED  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 CITY SERVICE" FOR PURPOSES OF THIS  SECTION  SHALL  MEAN
 (I)  ALL  SERVICE  WHILE  EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW
 YORK CITY HEALTH AND HOSPITALS CORPORATION IN A TITLE WHOSE  DUTIES  ARE
 THOSE  OF  AN EMERGENCY MEDICAL TECHNICIAN OR ADVANCED EMERGENCY MEDICAL
 TECHNICIAN, AS THOSE TERMS ARE DEFINED IN SECTION THREE THOUSAND ONE  OF
 THE PUBLIC HEALTH LAW; AND (II) ALL SUCH SERVICE IN A TITLE WHOSE DUTIES
 REQUIRE  THE SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE THOSE OF AN EMER-
 GENCY MEDICAL TECHNICIAN OR ADVANCED EMERGENCY  MEDICAL  TECHNICIAN,  AS
 THOSE  TERMS  ARE  DEFINED  IN  SECTION THREE THOUSAND ONE OF THE PUBLIC
 HEALTH LAW; AND (III) ALL SERVICE WHILE EMPLOYED BY THE CITY OF NEW YORK
 OR BY THE NEW YORK CITY HEALTH AND HOSPITALS CORPORATION  IN  THE  TITLE
 MOTOR VEHICLE OPERATOR.
   B.  PARTICIPATION IN TWENTY-TWO YEAR RETIREMENT PROGRAM. 1. SUBJECT TO
 THE PROVISIONS OF PARAGRAPHS FIVE  AND  SIX  OF  THIS  SUBDIVISION,  ANY
 PERSON  WHO IS AN EMT MEMBER ON THE STARTING DATE OF THE TWENTY-TWO YEAR
 RETIREMENT PROGRAM MAY ELECT TO BECOME A PARTICIPANT IN  THE  TWENTY-TWO
 YEAR  RETIREMENT PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY DAYS AFTER
 THE STARTING DATE OF THE TWENTY-TWO  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  AN  EMT
 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 AN EMT MEMBER AFTER THE STARTING DATE OF
 THE TWENTY-TWO YEAR RETIREMENT PROGRAM MAY ELECT TO BECOME A PARTICIPANT
 IN THE TWENTY-TWO YEAR RETIREMENT PROGRAM BY FILING, WITHIN ONE  HUNDRED
 EIGHTY  DAYS AFTER BECOMING SUCH AN EMT MEMBER, A DULY EXECUTED APPLICA-
 TION FOR SUCH PARTICIPATION WITH THE RETIREMENT  SYSTEM  OF  WHICH  SUCH
 PERSON IS A MEMBER, PROVIDED HE OR SHE IS SUCH AN EMT MEMBER ON THE DATE
 SUCH APPLICATION IS FILED.
   3.  ANY ELECTION TO BE A PARTICIPANT IN THE TWENTY-TWO YEAR RETIREMENT
 PROGRAM SHALL BE IRREVOCABLE.
   4. WHERE ANY PARTICIPANT IN THE  TWENTY-TWO  YEAR  RETIREMENT  PROGRAM
 SHALL CEASE TO BE EMPLOYED AS AN EMT 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-TWO YEAR
 RETIREMENT PROGRAM AND SHALL NOT BE ELIGIBLE FOR THE BENEFITS OF  SUBDI-
 VISION C OF THIS SECTION.
   5.  WHERE  ANY  PARTICIPANT  IN THE TWENTY-TWO YEAR RETIREMENT PROGRAM
 TERMINATES SERVICE AS AN EMT MEMBER AND RETURNS TO SUCH  SERVICE  AS  AN
 EMT  MEMBER AT A LATER DATE, HE OR SHE SHALL AGAIN BECOME SUCH A PARTIC-
 IPANT 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-TWO 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-
 BLE  PARAGRAPH  AND WHO FAILS TO TIMELY FILE A DULY EXECUTED APPLICATION

 S. 8527                             3

 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-TWO
 YEAR RETIREMENT PROGRAM:
   (I) WHO HAS COMPLETED TWENTY-TWO  OR  MORE  YEARS  OF  ALLOWABLE  CITY
 SERVICE; 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-TWO  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-TWO
 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 CITY SERVICE, OR
 FRACTION THEREOF, BEYOND SUCH REQUIRED MINIMUM PERIOD OF  SERVICE  EQUAL
 TO  ONE  AND  SEVEN-TENTHS  PERCENT OF THE FINAL AVERAGE SALARY FOR SUCH
 ALLOWABLE SERVICE DURING THE PERIOD FROM THE  COMPLETION  OF  TWENTY-TWO
 YEARS OF ALLOWABLE CITY SERVICE TO THE DATE OF RETIREMENT.
   D. VESTING. 1. A PARTICIPANT IN THE TWENTY-TWO YEAR RETIREMENT PROGRAM
 WHO:
   (I)  DISCONTINUES  SERVICE  AS  AN  EMT MEMBER, OTHER THAN BY DEATH OR
 RETIREMENT; AND
   (II) PRIOR TO SUCH DISCONTINUANCE, COMPLETED FIVE BUT LESS THAN  TWEN-
 TY-TWO YEARS OF ALLOWABLE 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
 CITY SERVICE.
   E. MEMBER CONTRIBUTIONS. 1. ALL EMT MEMBERS  OF  THE  TWENTY-TWO  YEAR
 RETIREMENT  PROGRAM  SHALL  BE REQUIRED TO MAKE MEMBER CONTRIBUTIONS AND
 ADDITIONAL MEMBER CONTRIBUTIONS IN ACCORDANCE WITH AND  SUBJECT  TO  THE

 S. 8527                             4

 SAME RIGHTS, PRIVILEGES, OBLIGATIONS AND PROCEDURES AS GOVERN THE MEMBER
 CONTRIBUTION AND ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY SUBDIVISION
 D  OF  SECTION  FOUR  HUNDRED  FORTY-FIVE-E OF THE RETIREMENT AND SOCIAL
 SECURITY LAW.
   2.  FOR  THE PURPOSE OF APPLYING UNDER THIS SUBDIVISION, SUCH SUBDIVI-
 SION D OF SECTION FOUR HUNDRED FORTY-FIVE-E OF THE RETIREMENT AND SOCIAL
 SECURITY LAW TO AN EMT MEMBER OF THE TWENTY-TWO 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 SUBDIVISION, SHALL BE
 DEEMED TO MEAN ALLOWABLE CITY SERVICE.
   § 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  OF  THIS  ARTICLE,  the  maximum
 retirement  benefit computed without optional modification provided to a
 member of a retirement 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 person-
 nel  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 eight-
 y-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 communi-
 cations 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  thousand  three hundred
 dollars, and forty per centum of final average salary in excess of twen-
 ty-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 retirement benefit computa-
 tions set forth in this section. The maximum retirement benefit computed

 S. 8527                             5
 
 without optional modification payable to a police officer,  an  investi-
 gator  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 476 of the laws of 2018, 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 police officer, an investi-
 gator member of the New York city employees'  retirement  system,  fire-
 fighter,  correction  officer, a qualifying member as defined in section
 eighty-nine-t, as added by chapter six hundred fifty-seven of  the  laws
 of  nineteen hundred ninety-eight, of this chapter, sanitation worker, 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 depu-
 ty sheriff 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
 chapter as a sheriff, undersheriff, deputy sheriff or correction officer
 as defined in such section eighty-nine-p or is employed in Broome County

 S. 8527                             6
 
 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 police officer or investigator
 member of the New York city employees' retirement system or a firefight-
 er,  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-TWO YEAR IMPROVED BENEFIT RETIREMENT  PROGRAM
 FOR  EMT  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. "RETIREMENT SYSTEM" SHALL MEAN THE NEW YORK CITY EMPLOYEES' RETIRE-
 MENT SYSTEM.
   2.  "EMT  MEMBER"  SHALL MEAN A MEMBER OF THE RETIREMENT SYSTEM WHO IS
 SUBJECT TO THE PROVISIONS OF THIS ARTICLE, WHO IS EMPLOYED BY  THE  CITY

 S. 8527                             7
 
 OF  NEW YORK OR BY THE NEW YORK CITY HEALTH AND HOSPITALS CORPORATION IN
 A TITLE WHOSE DUTIES ARE THOSE OF AN  EMERGENCY  MEDICAL  TECHNICIAN  OR
 ADVANCED  EMERGENCY  MEDICAL  TECHNICIAN,  AS THOSE TERMS ARE DEFINED IN
 SECTION THREE THOUSAND ONE OF THE PUBLIC HEALTH LAW, OR IN A TITLE WHOSE
 DUTIES REQUIRE THE SUPERVISION OF EMPLOYEES WHOSE DUTIES ARE THOSE OF AN
 EMERGENCY  MEDICAL  TECHNICIAN OR ADVANCED EMERGENCY MEDICAL TECHNICIAN,
 AS THOSE TERMS ARE DEFINED IN SECTION THREE THOUSAND ONE OF  THE  PUBLIC
 HEALTH LAW.
   3.  "TWENTY-TWO  YEAR  IMPROVED BENEFIT RETIREMENT PROGRAM" SHALL MEAN
 ALL THE TERMS AND CONDITIONS OF THIS SECTION.
   4. "STARTING DATE OF THE TWENTY-TWO YEAR IMPROVED  BENEFIT  RETIREMENT
 PROGRAM" SHALL MEAN THE EFFECTIVE DATE OF THIS SECTION.
   5.  "PARTICIPANT  IN  THE  TWENTY-TWO YEAR IMPROVED BENEFIT RETIREMENT
 PROGRAM" SHALL MEAN ANY EMT 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-TWO  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-TWO YEARS OF CREDITED SERVICE.
   9. "ALLOWABLE SERVICE AS AN EMT MEMBER" SHALL MEAN (I) ALL SERVICE  AS
 AN  EMT  MEMBER;  AND (II) ALL SERVICE WHILE EMPLOYED BY THE CITY OF NEW
 YORK OR BY THE NEW YORK CITY HEALTH AND  HOSPITALS  CORPORATION  IN  THE
 TITLE MOTOR VEHICLE OPERATOR.
   B.  ELECTION  OF  TWENTY-TWO YEAR IMPROVED BENEFIT RETIREMENT PROGRAM.
 1. SUBJECT TO THE PROVISIONS OF PARAGRAPHS FIVE AND SIX OF THIS SUBDIVI-
 SION, ANY PERSON WHO IS AN EMT MEMBER ON THE STARTING DATE OF THE  TWEN-
 TY-TWO  YEAR  IMPROVED  BENEFIT RETIREMENT PROGRAM MAY ELECT TO BECOME A
 PARTICIPANT IN THE TWENTY-TWO 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 HE OR SHE IS SUCH AN EMT MEMBER ON THE DATE SUCH APPLI-
 CATION IS FILED.
   2.  SUBJECT TO THE PROVISION OF PARAGRAPHS FIVE AND SIX OF THIS SUBDI-
 VISION, ANY PERSON WHO BECOMES AN EMT MEMBER AFTER THE STARTING DATE  OF
 THE  TWENTY-TWO  YEAR  IMPROVED  BENEFIT RETIREMENT PROGRAM MAY ELECT TO
 BECOME A PARTICIPANT IN THE TWENTY-TWO YEAR IMPROVED BENEFIT  RETIREMENT
 PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY DAYS AFTER BECOMING SUCH AN
 EMT  MEMBER, A DULY EXECUTED APPLICATION FOR SUCH PARTICIPATION WITH THE
 RETIREMENT SYSTEM, PROVIDED HE OR SHE IS SUCH AN EMT MEMBER ON THE  DATE
 SUCH APPLICATION IS FILED.
   3.  ANY  ELECTION  TO BE A PARTICIPANT IN THE TWENTY-TWO YEAR IMPROVED
 BENEFIT RETIREMENT PROGRAM SHALL BE IRREVOCABLE.
   4. WHERE ANY PARTICIPANT  IN  THE  TWENTY-TWO  YEAR  IMPROVED  BENEFIT
 RETIREMENT  PROGRAM  SHALL CEASE TO HOLD A POSITION AS AN EMT MEMBER, HE
 OR SHE SHALL CEASE TO BE SUCH A PARTICIPANT AND, DURING  ANY  PERIOD  IN
 WHICH  SUCH A PERSON DOES NOT HOLD SUCH AN EMT POSITION, HE OR SHE SHALL
 NOT BE A PARTICIPANT IN THE TWENTY-TWO YEAR IMPROVED BENEFIT  RETIREMENT
 PROGRAM  AND  SHALL NOT BE ELIGIBLE FOR THE BENEFITS OF SUBDIVISION C OF
 THIS SECTION.

 S. 8527                             8
 
   5. WHERE ANY PARTICIPANT  IN  THE  TWENTY-TWO  YEAR  IMPROVED  BENEFIT
 RETIREMENT  PROGRAM  TERMINATES  SERVICE AS AN EMT MEMBER AND RETURNS TO
 SUCH SERVICE AS AN EMT 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-TWO  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-TWO 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
 AN EMT 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 ARTICLE; AND
   2.  IF  THAT  PARTICIPANT,  WHILE  SUCH  A  PARTICIPANT,  RETIRES FROM
 SERVICE, HE OR SHE SHALL NOT BE SUBJECT TO  THE  PROVISIONS  OF  SECTION
 FOUR HUNDRED FORTY-FOUR OF THIS ARTICLE; AND
   3.  HIS  OR HER RETIREMENT ALLOWANCE SHALL BE AN AMOUNT, ON ACCOUNT OF
 THIS REQUIRED MINIMUM PERIOD OF SERVICE, EQUAL TO  THE  SUM  OF  (I)  AN
 ANNUITY  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  AN  EMT
 MEMBER,  OR  FRACTION  THEREOF,  BEYOND  SUCH REQUIRED MINIMUM PERIOD OF
 SERVICE EQUAL TO TWO PERCENT OF HIS OR HER FINAL AVERAGE SALARY FOR SUCH
 ALLOWABLE SERVICE AS AN EMT MEMBER DURING THE PERIOD FROM COMPLETION  OF
 TWENTY-TWO  YEARS  OF  ALLOWABLE SERVICE AS AN EMT MEMBER TO THE DATE OF
 RETIREMENT BUT NOT TO EXCEED MORE THAN FIVE YEARS OF ADDITIONAL  SERVICE
 AS AN EMT MEMBER.
   D.  ADDITIONAL  MEMBER  CONTRIBUTIONS.  1.  IN  ADDITION TO THE MEMBER
 CONTRIBUTIONS REQUIRED PURSUANT TO SECTION 13-125 OR SECTION  13-162  OF
 THE  ADMINISTRATIVE  CODE,  EACH  PARTICIPANT  IN  THE  TWENTY-TWO  YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM SHALL  CONTRIBUTE,  SUBJECT  TO  THE
 APPLICABLE PROVISIONS OF SECTION 13-125.2 OF THE ADMINISTRATIVE CODE, AN
 ADDITIONAL  SIX  AND  ONE-HALF PERCENT OF HIS OR HER COMPENSATION EARNED
 FROM ALL CREDITED SERVICE, AS  A  PARTICIPANT  IN  THE  TWENTY-TWO  YEAR
 IMPROVED  BENEFIT RETIREMENT PROGRAM, RENDERED ON AND AFTER THE STARTING
 DATE OF THE IMPROVED  BENEFIT  RETIREMENT  PROGRAM,  AND  ALL  ALLOWABLE
 SERVICE  AS  AN EMT 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-TWO
 YEAR IMPROVED BENEFIT RETIREMENT  PROGRAM  SHALL  CONTRIBUTE  ADDITIONAL
 MEMBER  CONTRIBUTIONS  UNTIL THE LATER OF THE DATE AS OF WHICH HE OR SHE
 IS ELIGIBLE TO RETIRE  WITH  AT  LEAST  TWENTY-TWO  YEARS  OF  ALLOWABLE

 S. 8527                             9
 
 SERVICE  AS  AN  EMT  MEMBER UNDER SUCH RETIREMENT PROGRAM, OR THE FIRST
 ANNIVERSARY OF THE STARTING DATE OF THE TWENTY-TWO YEAR IMPROVED BENEFIT
 RETIREMENT  PROGRAM.  THE  ADDITIONAL  CONTRIBUTIONS  REQUIRED  BY  THIS
 SECTION  SHALL BE IN LIEU OF ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY
 SECTION FOUR HUNDRED FORTY-FIVE-D OF THIS ARTICLE, AS ADDED  BY  CHAPTER
 NINETY-SIX  OF THE LAWS OF NINETEEN HUNDRED NINETY-FIVE, AND SHALL BE IN
 LIEU OF ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY SECTION FOUR HUNDRED
 FORTY-FIVE-E OF THIS ARTICLE, AS ADDED BY CHAPTER FIVE HUNDRED  SEVENTY-
 SEVEN  OF  THE  LAWS  OF  TWO  THOUSAND, AND NO MEMBER PAYING ADDITIONAL
 CONTRIBUTIONS PURSUANT TO THIS SECTION SHALL BE REQUIRED  TO  PAY  ADDI-
 TIONAL  CONTRIBUTIONS  PURSUANT  TO  SUCH  SUBDIVISION D OF SECTION FOUR
 HUNDRED FORTY-FIVE-D OF THIS ARTICLE OR PURSUANT TO SUCH  SUBDIVISION  D
 OF SECTION FOUR HUNDRED FORTY-FIVE-E OF THIS ARTICLE.
   2.  COMMENCING  WITH  THE  FIRST FULL PAYROLL PERIOD AFTER EACH PERSON
 BECOMES A PARTICIPANT IN THE TWENTY-TWO YEAR IMPROVED BENEFIT RETIREMENT
 PROGRAM, ADDITIONAL MEMBER CONTRIBUTIONS AT THE RATE SPECIFIED IN  PARA-
 GRAPH ONE OF THIS SUBDIVISION SHALL BE DEDUCTED, SUBJECT TO THE APPLICA-
 BLE  PROVISIONS OF SECTION 13-125.2 OF THE ADMINISTRATIVE CODE, 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;
   (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-TWO YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM PURSUANT TO PARAGRAPH FIVE OF SUBDI-
 VISION  B  OF  THIS  SECTION, AN APPROPRIATE AMOUNT SHALL BE INCLUDED IN
 SUCH PARTICIPANT'S CONTRIBUTION DEFICIENCY, INCLUDING  INTEREST  THEREON

 S. 8527                            10

 AS  CALCULATED  PURSUANT TO SUBPARAGRAPH (II) OF 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 PARA-
 GRAPH SEVEN OF THIS SUBDIVISION, AS IF SUCH ADDITIONAL  MEMBER  CONTRIB-
 UTIONS 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-TWO  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 ADDI-
 TIONAL MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH EIGHT OF THIS SUBDIVI-
 SION, 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.
   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 SECTION 13-162 OF THE ADMINIS-
 TRATIVE  CODE  WHILE  HE  OR SHE IS A PARTICIPANT IN THE TWENTY-TWO YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM OR OTHERWISE.
   (II) SHOULD A PARTICIPANT IN  THE  TWENTY-TWO  YEAR  IMPROVED  BENEFIT
 RETIREMENT PROGRAM, WHO HAS RENDERED LESS THAN FIFTEEN YEARS OF CREDITED
 SERVICE CEASE TO HOLD A POSITION AS AN EMT MEMBER FOR ANY REASON WHATSO-
 EVER, HIS OR HER ACCUMULATED ADDITIONAL MEMBER CONTRIBUTIONS MADE PURSU-
 ANT  TO THIS SUBDIVISION, TOGETHER WITH ANY INTEREST THEREON PAID TO THE
 RETIREMENT SYSTEM, WHICH REMAIN CREDITED TO SUCH  PARTICIPANT'S  ACCOUNT

 S. 8527                            11
 
 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 INTEREST 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 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-TWO YEAR IMPROVED BENEFIT  RETIRE-
 MENT  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-TWO 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, PROMULGATE
 REGULATIONS GOVERNING THE BORROWING OF SUCH ADDITIONAL  MEMBER  CONTRIB-
 UTIONS.
   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
 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-TWO 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 13-157.5 OF THE ADMINISTRATIVE CODE,  BUT  WHO  IS
 NOT GOVERNED BY THE PROVISIONS OF THIS ARTICLE.
   §  5.  Paragraph 3 of subdivision b of section 604-e of the retirement
 and social security law, as added by chapter 577 of the laws of 2000, is
 amended to read as follows:
   3. Each EMT member, other than an EMT member subject to paragraph  one
 or  two  of  this  subdivision,  who  [becomes]  BECAME  subject  to the
 provisions of this article on or after the starting date of the  twenty-

 S. 8527                            12
 
 five year retirement program AND PRIOR TO THE STARTING DATE OF THE TWEN-
 TY-TWO  YEAR  RETIREMENT  PROGRAM  PROVIDED  FOR  IN SECTION SIX HUNDRED
 FOUR-J OF THIS ARTICLE shall [become] CONTINUE TO BE  a  participant  in
 the  twenty-five  year retirement program [on the date he or she becomes
 such an EMT member], UNLESS SUCH PERSON ELECTS TO BECOME A MEMBER OF THE
 TWENTY-TWO YEAR RETIREMENT PROGRAM IN ACCORDANCE WITH THE CONDITIONS AND
 TERMS OF SUCH SECTION SIX HUNDRED FOUR-J. Provided,  however,  a  person
 subject  to  this  paragraph,  and who has exceeded age twenty-five upon
 employment as an EMT 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 an EMT member.
   § 6. The retirement and social security law is amended by adding a new
 section 604-j to read as follows:
   § 604-J. TWENTY-TWO YEAR RETIREMENT PROGRAM FOR EMT MEMBERS. A.  DEFI-
 NITIONS. THE FOLLOWING WORDS AND PHRASES AS USED IN THIS  SECTION  SHALL
 HAVE  THE  FOLLOWING  MEANINGS  UNLESS  A  DIFFERENT  MEANING IS PLAINLY
 REQUIRED BY THE CONTEXT.
   1. "EMT MEMBER" SHALL MEAN A MEMBER OF THE NEW  YORK  CITY  EMPLOYEES'
 RETIREMENT  SYSTEM WHO IS EMPLOYED BY THE CITY OF NEW YORK OR BY THE NEW
 YORK CITY HEALTH AND HOSPITALS CORPORATION IN A TITLE WHOSE  DUTIES  ARE
 THOSE  OF  AN  EMERGENCY  MEDICAL  TECHNICIAN  OR  AN ADVANCED EMERGENCY
 MEDICAL TECHNICIAN, AS THOSE TERMS ARE DEFINED IN SECTION THREE THOUSAND
 ONE OF THE PUBLIC HEALTH LAW, OR IN A TITLE  WHOSE  DUTIES  REQUIRE  THE
 SUPERVISION  OF EMPLOYEES WHOSE DUTIES ARE THOSE OF AN EMERGENCY MEDICAL
 TECHNICIAN OR ADVANCED EMERGENCY MEDICAL TECHNICIAN, AS THOSE TERMS  ARE
 DEFINED IN SECTION THREE THOUSAND ONE OF THE PUBLIC HEALTH LAW.
   2.  "TWENTY-TWO  YEAR RETIREMENT PROGRAM" SHALL MEAN ALL THE TERMS AND
 CONDITIONS OF THIS SECTION.
   3. "STARTING DATE OF THE TWENTY-TWO  YEAR  RETIREMENT  PROGRAM"  SHALL
 MEAN THE EFFECTIVE DATE OF THIS SECTION.
   4.  "PARTICIPANT IN THE TWENTY-TWO YEAR RETIREMENT PROGRAM" SHALL MEAN
 ANY EMT 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-TWO YEAR RETIREMENT PROGRAM, AS
 APPLICABLE TO HIM OR HER.
   5. "DISCONTINUED MEMBER" SHALL MEAN A PARTICIPANT  IN  THE  TWENTY-TWO
 YEAR  RETIREMENT PROGRAM WHO, WHILE HE OR SHE WAS AN EMT MEMBER, DISCON-
 TINUED 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 AN EMT MEMBER" SHALL MEAN (I) ALL SERVICE  AS
 AN  EMT  MEMBER;  AND (II) ALL SERVICE WHILE EMPLOYED BY THE CITY OF NEW
 YORK OR BY THE NEW YORK CITY HEALTH AND  HOSPITALS  CORPORATION  IN  THE
 TITLE MOTOR VEHICLE OPERATOR.
   B. PARTICIPATION IN THE TWENTY-TWO YEAR RETIREMENT PROGRAM. 1. SUBJECT
 TO  THE  PROVISIONS OF PARAGRAPHS SIX AND SEVEN OF THIS SUBDIVISION, ANY
 PERSON WHO IS AN EMT MEMBER ON THE STARTING DATE OF THE TWENTY-TWO  YEAR
 RETIREMENT  PROGRAM  AND  WHO,  AS SUCH AN EMT 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-TWO YEAR RETIRE-
 MENT PROGRAM BY FILING, WITHIN ONE HUNDRED EIGHTY DAYS AFTER SUCH START-
 ING DATE, A DULY EXECUTED APPLICATION FOR SUCH  PARTICIPATION  WITH  THE
 RETIREMENT  SYSTEM  OF WHICH SUCH PERSON IS A MEMBER, PROVIDED HE OR SHE
 IS SUCH AN EMT MEMBER ON THE DATE SUCH  APPLICATION  IS  FILED.  AN  EMT

 S. 8527                            13

 MEMBER  WHO  ELECTS TO BECOME A MEMBER OF THE TWENTY-TWO YEAR RETIREMENT
 PROGRAM PURSUANT TO THIS PARAGRAPH SHALL CEASE TO BE  A  MEMBER  OF  THE
 TWENTY-FIVE  YEAR RETIREMENT PROGRAM PROVIDED FOR IN SECTION SIX HUNDRED
 FOUR-E  OF  THIS ARTICLE, AS ADDED BY CHAPTER FIVE HUNDRED SEVENTY-SEVEN
 OF THE LAWS OF TWO THOUSAND.
   2. SUBJECT TO THE PROVISIONS OF  PARAGRAPHS  SIX  AND  SEVEN  OF  THIS
 SUBDIVISION,  ANY  PERSON  WHO  BECOMES AN EMT MEMBER AFTER THE STARTING
 DATE OF THE TWENTY-TWO YEAR RETIREMENT PROGRAM AND WHO, AS SUCH  AN  EMT
 MEMBER OR OTHERWISE, LAST BECAME SUBJECT TO THE PROVISIONS OF THIS ARTI-
 CLE  PRIOR  TO  SUCH STARTING DATE, MAY ELECT TO BECOME A PARTICIPANT IN
 THE TWENTY-TWO YEAR RETIREMENT PROGRAM BY  FILING,  WITHIN  ONE  HUNDRED
 EIGHTY  DAYS AFTER BECOMING SUCH AN EMT MEMBER, A DULY EXECUTED APPLICA-
 TION FOR SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM  FOR  WHICH  SUCH
 PERSON IS A MEMBER, PROVIDED HE OR SHE IS SUCH AN EMT MEMBER ON THE DATE
 SUCH  APPLICATION  IS FILED. AN EMT MEMBER WHO ELECTS TO BECOME A MEMBER
 OF THE TWENTY-TWO YEAR RETIREMENT PROGRAM  PURSUANT  TO  THIS  PARAGRAPH
 SHALL  CEASE  TO  BE A MEMBER OF THE TWENTY-FIVE YEAR RETIREMENT PROGRAM
 PROVIDED FOR IN SECTION SIX HUNDRED FOUR-E OF THIS ARTICLE, AS ADDED  BY
 CHAPTER FIVE HUNDRED SEVENTY-SEVEN OF THE LAWS OF TWO THOUSAND.
   3.  ANY ELECTION TO BE A PARTICIPANT IN THE TWENTY-TWO YEAR RETIREMENT
 PROGRAM SHALL BE IRREVOCABLE.
   4. EACH EMT MEMBER WHO BECOMES SUBJECT TO THE PROVISIONS OF THIS ARTI-
 CLE ON OR AFTER THE STARTING DATE  OF  THE  TWENTY-TWO  YEAR  RETIREMENT
 PROGRAM  SHALL  BECOME  A  PARTICIPANT IN THE TWENTY-TWO YEAR RETIREMENT
 PROGRAM ON THE DATE HE OR SHE BECOMES AN EMT MEMBER.
   5. WHERE ANY PARTICIPANT IN THE  TWENTY-TWO  YEAR  RETIREMENT  PROGRAM
 SHALL  CEASE  TO HOLD A POSITION AS AN EMT MEMBER, HE OR SHE SHALL CEASE
 TO BE SUCH A PARTICIPANT AND, DURING ANY PERIOD  IN  WHICH  SUCH  PERSON
 DOES NOT HOLD SUCH AN EMT POSITION, HE OR SHE SHALL NOT BE A PARTICIPANT
 IN  THE TWENTY-TWO YEAR RETIREMENT PROGRAM AND SHALL NOT BE ELIGIBLE FOR
 THE BENEFITS OF SUBDIVISION C OF THIS SECTION.
   6. WHERE ANY PARTICIPANT IN THE  TWENTY-TWO  YEAR  RETIREMENT  PROGRAM
 TERMINATES  SERVICE  AS  AN EMT MEMBER AND RETURNS TO SUCH SERVICE AS AN
 EMT MEMBER AT A LATER DATE, HE OR SHE SHALL AGAIN BECOME SUCH A  PARTIC-
 IPANT 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-
 TWO 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-TWO
 YEAR RETIREMENT PROGRAM:
   (I) WHO HAS COMPLETED TWENTY-TWO OR MORE YEARS  OF  CREDITED  SERVICE;
 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-TWO YEAR RETIREMENT
 PROGRAM AT THE TIME SO SPECIFIED FOR HIS OR  HER  RETIREMENT;  SHALL  BE

 S. 8527                            14

 RETIRED  PURSUANT  TO  THE  PROVISIONS  OF  THIS SECTION AFFORDING EARLY
 SERVICE RETIREMENT.
   2.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY, AND
 SUBJECT TO THE PROVISIONS OF PARAGRAPH SIX  OF  SUBDIVISION  E  OF  THIS
 SECTION,  THE SERVICE RETIREMENT BENEFIT FOR PARTICIPANTS IN THE TWENTY-
 TWO 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 AN EMT MEMBER, OR
 FRACTION THEREOF, BEYOND SUCH REQUIRED MINIMUM PERIOD OF  SERVICE  EQUAL
 TO  TWO  PERCENT  OF HIS OR HER FINAL SALARY AS AN EMT MEMBER DURING THE
 PERIOD FROM THE COMPLETION OF TWENTY-TWO YEARS OF ALLOWABLE  SERVICE  AS
 AN EMT MEMBER TO THE DATE OF RETIREMENT BUT NOT TO EXCEED MORE THAN FIVE
 YEARS OF ADDITIONAL SERVICE AS AN EMT MEMBER.
   D.  VESTING.  1.  A  PARTICIPANT  IN  THE  TWENTY-TWO  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  TWENTY-TWO YEARS OF ALLOWABLE SERVICE AS AN EMT MEMBER, AND IN THE
 CASE OF A NEW YORK CITY REVISED PLAN MEMBER, WHO PRIOR TO  SUCH  DISCON-
 TINUANCE,  COMPLETED  TEN  BUT  LESS  THAN TWENTY-TWO YEARS OF ALLOWABLE
 SERVICE AS AN EMT 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.
   3.  SUBJECT  TO  THE PROVISIONS OF PARAGRAPH SEVEN OF SUBDIVISION E OF
 THIS SECTION, SUCH DEFERRED VESTED BENEFIT SHALL BE A RETIREMENT  ALLOW-
 ANCE  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 AS AN EMT MEMBER.
   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-TWO  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 AND ONE-HALF PERCENT

 S. 8527                            15
 
 OF HIS OR COMPENSATION EARNED FROM  (I)  ALL  ALLOWABLE  SERVICE,  AS  A
 PARTICIPANT  IN  THE  TWENTY-TWO YEAR RETIREMENT PROGRAM, RENDERED ON OR
 AFTER THE STARTING DATE OF THE TWENTY-TWO 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 CONTRIB-
 UTIONS 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 SHALL BE IN LIEU  OF  ADDITIONAL  MEMBER  CONTRIBUTIONS
 REQUIRED  BY SUBDIVISION E OF SECTION SIX HUNDRED FOUR-E OF THIS CHAPTER
 AS ADDED BY CHAPTER FIVE HUNDRED SEVENTY-SEVEN OF THE LAWS OF TWO  THOU-
 SAND,  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 ARTICLE OR SUCH SUBDIVI-
 SION E OF SECTION SIX HUNDRED FOUR-E OF THIS ARTICLE.
   2. A PARTICIPANT IN  THE  TWENTY-TWO  YEAR  RETIREMENT  PROGRAM  SHALL
 CONTRIBUTE  ADDITIONAL  MEMBER  CONTRIBUTIONS UNTIL THE LATER OF (I) THE
 FIRST ANNIVERSARY OF THE STARTING DATE OF THE TWENTY-TWO YEAR RETIREMENT
 PROGRAM, OR (II) THE DATE ON WHICH HE OR SHE COMPLETES THIRTY  YEARS  OF
 CREDITED SERVICE AS AN EMT MEMBER.
   3.  COMMENCING  WITH  THE  FIRST FULL PAYROLL PERIOD AFTER EACH PERSON
 BECOMES A PARTICIPANT IN THE TWENTY-TWO 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-TWO 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 CONTRIBUTIONS INCLUDING ANY INTEREST PAID ON SUCH CONTRIB-
 UTIONS,  AGAIN  BECOME  A  PARTICIPANT IN THE TWENTY-TWO YEAR RETIREMENT

 S. 8527                            16
 
 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 CREDITED 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.
   (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 SUCH AMOUNT DURING THE PERI-
 OD  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 OF THIS SECTION SHALL BE REDUCED BY A  LIFE
 ANNUITY,  CALCULATED IN ACCORDANCE WITH THE METHOD SET FORTH IN SUBDIVI-
 SION I OF SECTION SIX HUNDRED THIRTEEN-B OF THIS ARTICLE, WHICH IS ACTU-
 ARIALLY 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 LOAN.

 S. 8527                            17
 
   8.  THE HEAD OF A RETIREMENT SYSTEM WHICH INCLUDES PARTICIPANTS IN THE
 TWENTY-TWO 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
 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-TWO YEAR
 RETIREMENT PROGRAM OR OTHERWISE.
   (II) SHOULD A PARTICIPANT IN THE TWENTY-TWO  YEAR  RETIREMENT  PROGRAM
 WHO  HAS  RENDERED  LESS THAN FIFTEEN YEARS OF CREDITED SERVICE CEASE TO
 HOLD A POSITION AS AN EMT MEMBER FOR ANY REASON WHATSOEVER, HIS  OR  HER
 ACCUMULATED ADDITIONAL MEMBER CONTRIBUTIONS MADE PURSUANT TO THIS SUBDI-
 VISION,  TOGETHER  WITH  ANY  INTEREST  THEREON  PAID  TO THE RETIREMENT
 SYSTEM, MAY BE WITHDRAWN BY HIM OR HER PURSUANT TO PROCEDURES PROMULGAT-
 ED IN REGULATIONS OF THE BOARD OF TRUSTEES  OF  THE  RETIREMENT  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-TWO YEAR 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.
   11.  A  PARTICIPANT IN THE TWENTY-TWO 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.

 S. 8527                            18
 
   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).
   § 7. Paragraph 7 of subdivision d of section 613 of the retirement and
 social security law, as amended by chapter 577 of the laws of  2000,  is
 amended to read as follows:
   7.  (i)  The  city of New York shall, in the case of an EMT member (as
 defined in paragraph one of subdivision a of section six hundred  four-e
 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-e), AND IN THE CASE OF AN EMT  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-TWO YEAR RETIREMENT  PROGRAM
 (AS  DEFINED  IN  PARAGRAPH  FOUR  OF  SUBDIVISION A OF SUCH SECTION SIX
 HUNDRED FOUR-J), AND WHO IS NOT RENDERED INELIGIBLE FOR SUCH PICK UPS BY
 ANOTHER PROVISION OF LAW, pick up and pay to the  retirement  system  of
 which  such  participant is a member all additional 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-e OF THIS ARTICLE, OR PURSUANT TO  PARA-
 GRAPHS  ONE  AND  TWO  OF SUBDIVISION E OF SECTION SIX HUNDRED FOUR-J OF
 THIS ARTICLE, (not including any additional member contributions due for
 any period prior to the first full payroll period referred  to  in  such
 paragraph three of such subdivision e), 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  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  hereunder)  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-e 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-e AND SUBDIVI-
 SION E OF SECTION SIX HUNDRED FOUR-J of this article.
   (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

 S. 8527                            19
 
 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.
   § 8. Section 13-125.2 of the administrative code of the  city  of  New
 York  is  amended by adding two new subdivisions a-9 and a-10 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 AN EMT MEMBER, AS DEFINED IN PARAGRAPH ONE OF
 SUBDIVISION A OF SECTION 13-157.5 OF THIS CHAPTER, WHO IS A  PARTICIPANT
 IN  THE  TWENTY-TWO YEAR IMPROVED BENEFIT RETIREMENT PROGRAM, AS DEFINED
 IN PARAGRAPH TWO OF SUCH SUBDIVISION A, PICK UP AND PAY TO  THE  RETIRE-
 MENT SYSTEM ALL ADDITIONAL MEMBER CONTRIBUTIONS WHICH OTHERWISE WOULD BE
 REQUIRED  TO  BE  DEDUCTED  FROM  SUCH MEMBER'S COMPENSATION PURSUANT TO
 SUBDIVISION E OF SUCH SECTION 13-157.5, 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 E WOULD OTHERWISE REQUIRE
 SUCH DEDUCTIONS.
   A-10. 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 AN EMT 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-TWO YEAR
 IMPROVED BENEFIT RETIREMENT PROGRAM, AS DEFINED IN  PARAGRAPH  THREE  OF
 SUCH  SUBDIVISION  A, PICK UP AND PAY TO THE RETIREMENT SYSTEM ALL ADDI-
 TIONAL 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 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.
   § 9. 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, SUBDIVISION A-NINE, OR SUBDIVISION
 A-TEN of this section; and
   § 10. Subdivision d of section 13-125.2 of the administrative code  of
 the city of New York is amended by adding two new paragraphs 2-h and 2-i
 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-TWO  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.
   (2-I) FOR THE PURPOSE OF DETERMINING  THE  RETIREMENT  SYSTEM  RIGHTS,
 BENEFITS  AND PRIVILEGES OF ANY MEMBER WHO IS A PARTICIPANT IN THE TWEN-

 S. 8527                            20
 
 TY-TWO YEAR IMPROVED BENEFIT RETIREMENT PROGRAM, AS DEFINED IN PARAGRAPH
 THREE OF SUBDIVISION A OF  SECTION  FOUR  HUNDRED  FORTY-FIVE-J  OF  THE
 RETIREMENT  AND SOCIAL SECURITY LAW, THE ADDITIONAL MEMBER CONTRIBUTIONS
 OF  SUCH  PARTICIPANT  PICKED  UP  PURSUANT TO SUBDIVISION A-TEN OF THIS
 SECTION SHALL BE DEEMED TO BE AND TREATED AS A  PART  OF  SUCH  MEMBER'S
 ADDITIONAL  MEMBER  CONTRIBUTIONS  UNDER  SUBDIVISION  D OF SECTION FOUR
 HUNDRED FORTY-FIVE-J OF THE RETIREMENT AND SOCIAL SECURITY LAW.
   § 11. 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, SUBDIVISION A-NINE, OR SUBDIVISION A-TEN 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  contrib-
 utions  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.
   § 12. 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
 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.

 S. 8527                            21
 
   §  13. Subdivision d of section 613 of the retirement and social secu-
 rity 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 AN EMT 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-TWO 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 ADDITIONAL MEMBER  CONTRIBUTIONS  WHICH
 OTHERWISE  WOULD  BE  REQUIRED TO BE DEDUCTED FROM SUCH MEMBER'S COMPEN-
 SATION PURSUANT TO PARAGRAPHS ONE AND  TWO  OF  SUBDIVISION  E  OF  SUCH
 SECTION SIX HUNDRED FOUR-J, NOT INCLUDING ANY ADDITIONAL MEMBER CONTRIB-
 UTIONS  DUE  FOR  ANY  PERIOD  PRIOR  TO  THE  FIRST FULL PAYROLL PERIOD
 REFERRED TO IN SUCH PARAGRAPH THREE OF SUCH  SUBDIVISION  E,  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 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 HEREUNDER, 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 IN NEW YORK  BY  A
 PUBLIC RETIREMENT SYSTEM.
   § 14. Nothing contained in sections seven and twelve 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.
   § 15. This act shall take effect immediately, provided, however that:
   (a)  The provisions of sections seven, twelve and thirteen 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  distrib-
 uted  or  made  available to the member; provided that the New York city

 S. 8527                            22
 
 employees' retirement system shall notify the legislative bill  drafting
 commission  upon  the  occurrence of such a change in federal law ruling
 affecting the provisions of this act in order that  the  commission  may
 maintain an accurate and timely effective data base of the official text
 of  the laws of the state of New York in furtherance of effectuating the
 provisions of section 44 of the legislative law and section 70-b of  the
 public officers law;
   (b)  The  amendments to subdivision d of section 613 of the retirement
 and social security law made by sections seven and thirteen of this  act
 shall  not  affect  the  expiration of such subdivision and shall expire
 therewith;
   (c) The amendments to section 13-125.2 of the administrative  code  of
 the  city  of  New  York made by sections eight, nine, ten and eleven of
 this act shall not affect the expiration of such section  and  shall  be
 deemed to expire therewith; and
   (d)  The  amendments to subdivision a of section 603 of the retirement
 and social security law made by section twelve of  this  act  shall  not
 affect  the expiration of such subdivision and shall be deemed to expire
 therewith.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   SUMMARY  OF  BILL:  This  proposed  legislation  would  amend  certain
 provisions  of  the  Retirement  and  Social Security Law (RSSL) and the
 Administrative Code of the City of New York (ACCNY), add  RSSL  Sections
 445-j  and  604-j, and add ACCNY Section 13-157.5 to establish a 22-Year
 Retirement Program for Emergency Medical Technicians (EMT 22-Year  Plan)
 for each tier.
   Effective Date: Upon enactment.
   BACKGROUND: Members whose duties are one of the following are eligible
 to participate in the EMT 22-Year Plan:
   * Emergency Medical Technician,
   * Advanced Emergency Medical Technician,
   *  Supervisor  of  employees  whose  duties  are those of an emergency
 medical technician, and
   * Supervisor of employees whose duties are those of an advanced  emer-
 gency medical technician.
   For  the  purposes of this Fiscal Note, these members are collectively
 referred to as "Emergency Medical Technicians" (EMTs).
   Participation in an applicable EMT 22-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 a
 member of the New York City Employees' Retirement System (NYCERS) on the
 date of enactment and who subsequently becomes employed as  an  EMT  has
 180  days  from  the  date  of employment as an EMT to elect to join the
 applicable EMT 22-Year Plan.
   Any EMT who becomes a NYCERS member after the  date  of  enactment  is
 mandated into the Tier 6 EMT 22-Year Plan.
   IMPACT  ON  BENEFITS:  Currently, EMTs generally participate in one of
 the existing NYCERS 25-Year Retirement Programs for  EMTs.  Since  there
 are  no Tier 1 EMT members and only one active Tier 2 EMT, the following
 summary of the EMT 22-Year Plan is limited to Tier 4 and Tier 6 members.
   The proposed legislation, if  enacted,  would  provide  the  following
 benefits to EMTs under the EMT 22-Year Plan:
   * Service retirement benefit:
   o  50%  of Final Average Salary (FAS) for the first 22 years of Allow-
 able Service, plus

 S. 8527                            23
 
   o 2% of FAS for each additional year of Allowable Service, or fraction
 thereof, exceeding 22 years up to a maximum of 27 years of such service.
   * Final Average Salary:
   o Tier 4 - Three Year Average (FAS3).
   o Tier 6 - Five Year Average (FAS5).
   * Vested benefit:
   o Eligibility:
   []  Tier  4  -  At  least  five,  but less than 22, years of allowable
 service.
   [] Tier 6 - At least 10, but less than 22, years of allowable service.
   o Payable at:
   [] Tier 4 - The date the member  would  have  completed  22  years  of
 allowable service.
   [] Tier 6 - Age 63.
   o Amount:
   [] 2% of FAS for each year of allowable service.
   *  Allowable  Service:  All service as an EMT member and service while
 employed by the city of New York or by the  New  York  City  Health  and
 Hospitals Corporation in the title motor vehicle operator.
   *  Other benefits: Members of the proposed EMT 22-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 the EMT 22-Year Plan are
 required to make, in addition to the Tier 4 Basic  Member  Contributions
 (BMC)  of 3%, which are generally paid for a period of 10 years, and the
 Tier 6 BMC ranging from 3% to 6% depending  on  defined  salary  levels,
 Additional Member Contributions (AMC) equal to 6.50% of compensation for
 all  service as a Plan participant on and after the starting date of the
 Plan until the later of the one-year anniversary of the  effective  date
 of  the  Plans  or 30 years of credited service. EMTs who participate in
 one of the existing NYCERS 25-Year  Retirement  Programs  are  currently
 required to make AMC of 6.25%.
   FINANCIAL  IMPACT  - PRESENT VALUES: Based on the anticipated group of
 members joining the EMT 22-Year Plans and the actuarial assumptions  and
 methods  described  herein,  the  enactment of this proposed legislation
 would increase the Present Value of Future Benefits (PVFB)  by  approxi-
 mately $122.1 million, and decrease the Present Value of member contrib-
 utions  by approximately $22.0 million. The net result is an increase in
 the Present Value of  future  employer  contributions  of  approximately
 $144.1 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 $84.3 million and an increase
 in the Present Value of future employer Normal Cost of $59.8 million.
   FINANCIAL IMPACT - ANNUAL EMPLOYER CONTRIBUTIONS: In  accordance  with
 Section  13-638.2(k-2)  of  the  ACCNY,  new UAL attributable to benefit
 changes are to be amortized as determined by the Actuary, but are gener-
 ally amortized over the remaining working lifetime of those impacted  by
 the benefit changes. As of June 30, 2019, the remaining working lifetime
 of  the  EMTs  assumed  to join the EMT 22-Year Plan is approximately 13
 years.
   For the purposes of this Fiscal Note, the increase in  UAL  was  amor-
 tized  over a 13-year period (12 payments under the One-Year Lag Method-
 ology (OYLM))  using  level  dollar  payments.  This  payment  plus  the
 increase  in  the  Normal Cost results in an increase in annual employer
 contributions of approximately $19.8 million each year.

 S. 8527                            24
 
   CONTRIBUTION TIMING: For the purposes  of  this  Fiscal  Note,  it  is
 assumed  that  the  changes  in  the  Present  Value  of future employer
 contributions and annual employer contributions would be  reflected  for
 the  first  time  in the June 30, 2020 actuarial valuation of NYCERS. In
 accordance  with  the OYLM used to determine employer contributions, the
 increase in employer contributions would first be  reflected  in  Fiscal
 Year 2022.
   CENSUS  DATA:  The  estimates presented herein are based on the census
 data used in the Preliminary June 30, 2019 (Lag) actuarial valuation  of
 NYCERS  to  determine the Preliminary Fiscal Year 2021 employer contrib-
 utions.
   The 3,722 NYCERS EMTs as of June 30, 2019  assumed  to  join  the  EMT
 22-Year  Plans  had  an average age of approximately 36.3 years, average
 service of approximately 8.5 years, and an average  salary  of  approxi-
 mately $59,200.
   ACTUARIAL ASSUMPTIONS AND METHODS: The changes in the Present Value 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, 2019 (Lag)  actuarial  valuations
 used  to  determine  the  Preliminary Fiscal Year 2021 employer contrib-
 utions of NYCERS.
   RISK AND UNCERTAINTY: The costs presented in this Fiscal  Note  depend
 highly  on the realization of the actuarial assumptions used, as well as
 certain  demographic  characteristics  of  NYCERS  and  other  exogenous
 factors  such  as  investment,  contribution, and other risks. If actual
 experience deviates from actuarial assumptions, the actual  costs  could
 differ  from  those  presented  herein.  Costs are also dependent on the
 actuarial methods used, and therefore different actuarial methods  could
 produce  different  results. Quantifying these risks is beyond the scope
 of this Fiscal Note.
   Not measured in this Fiscal Note are the following:
   * The  initial,  additional  administrative  costs  to  implement  the
 proposed legislation.
   *  The  impact  of  this  proposed legislation on Other Postemployment
 Benefit (OPEB) costs.
   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, a
 Member of the American Academy of Actuaries, and a Fellow of the Confer-
 ence  of Consulting Actuaries. I meet the Qualification Standards of the
 American Academy of Actuaries to render the actuarial opinion  contained
 herein.   To the best of my knowledge, the results contained herein have
 been prepared in accordance with generally accepted actuarial principles
 and procedures and with the Actuarial Standards of  Practice  issued  by
 the Actuarial Standards Board.
   FISCAL  NOTE  IDENTIFICATION:  This  Fiscal Note 2020-48 dated June 1,
 2020 was prepared by the Chief Actuary for the New York City  Employees'
 Retirement  System.  This  estimate  is intended for use only during the
 2020 Legislative Session.