[ ] is old law to be omitted.
                                                            LBD00937-02-5
 A. 5552                             2
 
   E. CREDIT FOR SERVICE AS A PAID FIREFIGHTER OR OFFICER OF  ANY  ORGAN-
 IZED  FIRE  DEPARTMENT SHALL ALSO BE DEEMED TO BE CREDITABLE SERVICE AND
 SHALL BE INCLUDED IN COMPUTING YEARS OF  TOTAL  SERVICE  FOR  RETIREMENT
 PURSUANT TO THIS SECTION.
   F.  A  MEMBER CONTRIBUTING ON THE BASIS OF THIS SECTION AT THE TIME OF
 RETIREMENT, MAY RETIRE AFTER THE  COMPLETION  OF  TWENTY-FIVE  YEARS  OF
 TOTAL  CREDITABLE SERVICE. APPLICATION THEREFOR MAY BE FILED IN A MANNER
 SIMILAR TO THAT PROVIDED  IN  SECTION  SEVENTY  OF  THIS  ARTICLE.  UPON
 COMPLETION  OF  TWENTY-FIVE  YEARS  OF SUCH SERVICE AND UPON RETIREMENT,
 EACH SUCH MEMBER SHALL RECEIVE A PENSION WHICH, TOGETHER WITH AN ANNUITY
 WHICH SHALL BE THE ACTUARIAL EQUIVALENT OF  THEIR  ACCUMULATED  CONTRIB-
 UTIONS  AT  THE TIME OF THEIR RETIREMENT AND AN ADDITIONAL PENSION WHICH
 IS THE ACTUARIAL EQUIVALENT OF THE  RESERVED-FOR-INCREASED-TAKE-HOME-PAY
 TO  WHICH  THEY MAY THEN BE ENTITLED SHALL BE SUFFICIENT TO PROVIDE THEM
 WITH A RETIREMENT ALLOWANCE EQUAL TO ONE-HALF  OF  THEIR  FINAL  AVERAGE
 SALARY;  FOR  SERVICE  BEYOND  TWENTY-FIVE YEARS AND FOR NON-FIREFIGHTER
 SERVICE THE BENEFIT IS INCREASED BY ONE-SIXTIETH OF FINAL AVERAGE SALARY
 FOR EACH YEAR OF ADDITIONAL SERVICE CREDIT.
   G. IN COMPUTING THE TWENTY-FIVE YEARS OF TOTAL  SERVICE  OF  A  MEMBER
 PURSUANT  TO  THIS SECTION FULL CREDIT SHALL BE GIVEN AND FULL ALLOWANCE
 SHALL BE MADE FOR SERVICE OF SUCH MEMBER IN TIME OF WAR AFTER WORLD  WAR
 I AS DEFINED IN SECTION TWO OF THIS ARTICLE, PROVIDED SUCH MEMBER AT THE
 TIME  OF  THEIR ENTRANCE INTO THE ARMED FORCES WAS IN THE SERVICE OF THE
 STATE.
   H. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO PREVENT A MEMBER, WHO
 DOES NOT RETIRE PURSUANT TO THE PROVISIONS OF THIS SECTION, FROM UTILIZ-
 ING SERVICE WHICH IS CREDITABLE SERVICE PURSUANT TO  THE  PROVISIONS  OF
 THIS  SECTION FOR SERVICE CREDIT PURSUANT TO THE PROVISIONS OF ANY OTHER
 PLAN OF THIS ARTICLE TO WHICH SUCH MEMBER IS SUBJECT.
   I. THE PROVISIONS OF THIS SECTION SHALL BE CONTROLLING NOTWITHSTANDING
 ANY OTHER PROVISION IN THIS ARTICLE TO THE CONTRARY.
   J. ANY MEMBER WHO, ON OR BEFORE THE EFFECTIVE DATE OF THIS SECTION, IS
 A FIREFIGHTER APPRENTICE, AIRPORT FIREFIGHTER I, AIRPORT FIREFIGHTER II,
 AIRPORT FIREFIGHTER III, OR TRAINING AND SAFETY OFFICER EMPLOYED BY  THE
 DIVISION OF MILITARY AND NAVAL AFFAIRS MAY, BY FILING AN ELECTION WITHIN
 ONE  YEAR  AFTER THE EFFECTIVE DATE OF THIS SECTION, ELECT TO BE SUBJECT
 TO THE PROVISIONS OF THIS SECTION. SUCH ELECTION SHALL  BE  IN  WRITING,
 SHALL BE DULY EXECUTED AND FILED WITH THE COMPTROLLER AND SHALL BE IRRE-
 VOCABLE.
   § 2. Subdivision a of section 445 of the retirement and social securi-
 ty  law,  as  amended  by chapter 714 of the laws of 2023, 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] THEY ARE a police officer, an
 investigator  member  of the New York city employees' retirement system,
 firefighter, 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
 A. 5552                             3
 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  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 ambu-
 lance medical technician/supervisor or a member who  performs  ambulance
 medical  technician  related  services,  or a police medic, police medic
 supervisor or a member who performs police medic  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  chapter
 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
 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
 A. 5552                             4
 
 laws  of two thousand one, or is a county fire marshal, supervising fire
 marshal, fire marshal, assistant  fire  marshal,  assistant  chief  fire
 marshal,  chief  fire marshal, division supervising fire marshal or fire
 marshal  trainee  employed by the county of Nassau as defined in section
 eighty-nine-w of this chapter or is employed in Monroe county as a depu-
 ty sheriff-civil as defined in section eighty-nine-x  of  this  chapter,
 employed  as  an emergency medical technician, critical care technician,
 advanced emergency medical technician, paramedic or supervisor  of  such
 titles  in  a  participating  Suffolk county fire district as defined in
 section eighty-nine-ss of this chapter, OR IS A FIREFIGHTER  APPRENTICE,
 AIRPORT  FIREFIGHTER I, AIRPORT FIREFIGHTER II, AIRPORT FIREFIGHTER III,
 OR TRAINING AND SAFETY OFFICER EMPLOYED BY THE DIVISION OF MILITARY  AND
 NAVAL AFFAIRS AS DEFINED IN SECTION EIGHTY-NINE-Y OF THIS CHAPTER and is
 in a plan which permits immediate retirement upon completion of a speci-
 fied  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,  a
 member  in such a plan and such an occupation, other than a police offi-
 cer or investigator member of the New York  city  employees'  retirement
 system  or  a firefighter, 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] THEY 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 benefit 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.
   §  3. Section 603 of the retirement and social security law is amended
 by adding a new subdivision w to read as follows:
   W. THE SERVICE RETIREMENT BENEFIT SPECIFIED  IN  SECTION  SIX  HUNDRED
 FOUR  OF THIS ARTICLE SHALL BE PAYABLE TO MEMBERS WITH TWENTY-FIVE YEARS
 OF CREDITABLE SERVICE, WITHOUT REGARD TO AGE, WHO ARE  EMPLOYED  BY  THE
 DIVISION  OF  MILITARY  AND  NAVAL  AFFAIRS AS A FIREFIGHTER APPRENTICE,
 AIRPORT FIREFIGHTER I, AIRPORT FIREFIGHTER II, AIRPORT FIREFIGHTER  III,
 OR  TRAINING  AND  SAFETY OFFICER AS DEFINED IN SECTION EIGHTY-NINE-Y OF
 THIS CHAPTER IF:  (I) SUCH MEMBERS HAVE MET THE MINIMUM SERVICE REQUIRE-
 MENTS UPON RETIREMENT; AND (II) IN THE CASE OF A MEMBER SUBJECT  TO  THE
 PROVISIONS  OF  ARTICLE  FOURTEEN  OF THIS CHAPTER, SUCH MEMBER FILES AN
 ELECTION THEREFOR WHICH PROVIDES  THAT  THEY  WILL  BE  SUBJECT  TO  THE
 PROVISIONS OF THIS ARTICLE AND TO NONE OF THE PROVISIONS OF SUCH ARTICLE
 FOURTEEN.  SUCH  ELECTION, WHICH SHALL BE IRREVOCABLE, SHALL BE IN WRIT-
 ING, DULY EXECUTED AND SHALL BE FILED WITH THE  COMPTROLLER  WITHIN  ONE
 YEAR  OF THE EFFECTIVE DATE OF THIS SUBDIVISION OR WITHIN ONE YEAR AFTER
 ENTERING THE EMPLOYMENT WITH THE DIVISION OF MILITARY AND NAVAL  AFFAIRS
 UPON WHICH ELIGIBILITY IS BASED, WHICHEVER COMES LATER. FOR THE PURPOSES
 OF  THIS SUBDIVISION, THE TERM "CREDITABLE SERVICE" SHALL HAVE THE MEAN-
 ING AS SO DEFINED IN BOTH SECTIONS EIGHTY-NINE-Y AND SIX HUNDRED ONE  OF
 THIS CHAPTER.
   §  4. Section 604 of the retirement and social security law is amended
 by adding a new subdivision w to read as follows:
 A. 5552                             5
 
   W. THE EARLY SERVICE RETIREMENT BENEFIT FOR A MEMBER WHO  IS  EMPLOYED
 IN  THE  DIVISION OF MILITARY AND NAVAL AFFAIRS AS A FIREFIGHTER APPREN-
 TICE, AIRPORT FIREFIGHTER I, AIRPORT FIREFIGHTER II, AIRPORT FIREFIGHTER
 III, OR TRAINING AND SAFETY  OFFICER  EMPLOYED  AS  DEFINED  IN  SECTION
 EIGHTY-NINE-Y  OF  THIS CHAPTER SHALL BE A PENSION EQUAL TO ONE-FIFTIETH
 OF  FINAL  AVERAGE  SALARY  TIMES  YEARS  OF  CREDITED  SERVICE  AT  THE
 COMPLETION  OF TWENTY-FIVE YEARS OF SERVICE AS SUCH DIVISION OF MILITARY
 AND NAVAL AFFAIRS FIREFIGHTER APPRENTICE, AIRPORT FIREFIGHTER I, AIRPORT
 FIREFIGHTER II, AIRPORT FIREFIGHTER III, OR TRAINING AND SAFETY OFFICER,
 BUT NOT EXCEEDING ONE-HALF OF THEIR FINAL AVERAGE SALARY.
   § 5. This act shall take effect January 1, 2026.
   FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
   This bill would permit members of the New York State and Local Employ-
 ees' Retirement System employed by the Division of  Military  and  Naval
 Affairs  in certain airport firefighter titles to retire upon completion
 of twenty-five years of creditable service with a  benefit  of  one-half
 final  average salary. Affected members in Tiers 1 or 2 would be awarded
 additional sixtieths for all service, including non-firefighter service,
 in excess of twenty-five  years.  Additionally,  members  covered  under
 Article  14  would be permitted one year to make an irrevocable election
 to switch to the twenty-five-year plan.
   If this bill is enacted during the 2025 Legislative Session, we antic-
 ipate that there will be an increase of approximately  $280,000  in  the
 annual contributions of the State of New York for the fiscal year ending
 March  31,  2026. In future years this cost will vary but is expected to
 average 4.2% of salary annually.
   In addition to the annual contributions discussed above, there will be
 an immediate past service cost of approximately $2.17 million which will
 be borne by the State of New York as a one-time payment.  This  estimate
 assumes that payment will be made on March 1, 2026.
   These estimated costs are based on 55 affected members employed by the
 Division  of  Military and Naval Affairs, with annual salary of approxi-
 mately $5.3 million as of March 31, 2024.
   Summary of relevant resources:
   Membership data as of March 31, 2024 was used in measuring the  impact
 of the proposed change, the same data used in the April 1, 2024 actuari-
 al  valuation.  Distributions  and  other statistics can be found in the
 2024 Report of the Actuary and the 2024 Annual  Comprehensive  Financial
 Report.  The actuarial assumptions and methods used are described in the
 2024  Annual Report to the Comptroller on Actuarial Assumptions, and the
 Codes, Rules and Regulations  of  the  State  of  New  York:  Audit  and
 Control.  The  Market Assets and GASB Disclosures are found in the March
 31, 2024 New York State and Local Retirement System Financial Statements
 and Supplementary Information.
   This fiscal note does not constitute a legal opinion on the  viability
 of  the  proposed change nor is it intended to serve as a substitute for
 the professional judgment of an attorney.
   This estimate, dated January 23,  2025,  and  intended  for  use  only
 during  the  2025  Legislative  Session,  is Fiscal Note No. 2025-12. As
 Chief Actuary of the New York State  and  Local  Retirement  System,  I,
 Aaron  Schottin  Young,  hereby certify that this analysis complies with
 applicable Actuarial Standards of  Practice  as  well  as  the  Code  of
 Professional  Conduct  and Qualification Standards for Actuaries Issuing
 Statements of Actuarial Opinion of the American Academy of Actuaries, of
 which I am a member.