A 6911 —

Compared against the New York Consolidated Laws as published AI-generated reading aid — verify against the official bill.

This bill amends 1 section(s) of the New York Consolidated Laws: Section 604 of the retirement and social security law.

• Section 604 of the retirement and social security law

  x. The early service retirement benefit for a member who is employed by the county of Suffolk or a participating employer that is a town or village in the county of Suffolk that makes the election provided for in subdivision j of section eighty-nine-z of this chapter as a chief fire marshal, assistant chief fire marshal, fire marshal II or fire marshal I as defined in section eighty-nine-z 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 a chief fire marshal, assistant chief fire marshal, fire marshal II, or fire marshal I in the county of Suffolk or a participating employer that is a town or village in the county of Suffolk but not exceeding one-half of such member's final average salary; for service beyond twenty-five years the benefits shall increase by one-sixtieth of final average salary for each year of additional service credit provided, however, that the total allowance payable pursuant to this section shall not exceed three- fourths of such member's final average salary. italics § 89-z. Retirement of members employed as a chief fire marshal, assistant chief fire marshal, fire marshal II or fire marshal I in the county of Suffolk or a participating employer that is a town or village in the county of Suffolk. a. Any member employed on or before the enact- ment of this section as a chief fire marshal, assistant chief fire marshal, fire marshal II or fire marshal I upon an election by the coun- ty of Suffolk or a participating employer that is a town or village in the county of Suffolk shall be eligible to retire pursuant to the provisions of this section. Such eligibility shall be an alternative to the eligibility provisions available under any other plan of this arti- cle to which such member is subject. b. Such member shall be entitled to retire upon the completion of twenty-five years of total creditable service by filing an application therefor in the manner provided for in section seventy of this article. c. 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 accumulated contributions at the time of retirement and an additional pension which is the actuarial equivalent of the reserved-for-increased-take-home-pay to which such member may then be entitled shall be sufficient to provide a retirement allowance equal to one-half of such member's final average salary. d. As used in this section "creditable service" shall include all services performed as a chief fire marshal, assistant chief fire marshal, fire marshal II or fire marshal I employed by the county of Suffolk or a participating employer that is a town or village in the county of Suffolk that has elected to provide the benefits provided by this section. 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 accumulated contributions at the time of retirement and an additional pension which is the actuarial equivalent of the reserved-for-increased-take-home-pay to which such member may then be entitled shall be sufficient to provide a retirement allowance equal to one-half of such member's final average salary; for service beyond twenty-five years the benefit is increased by one-sixt

  amended