S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10581
 
                           I N  A S S E M B L Y
 
                               June 20, 2024
                                ___________
 
 Introduced   by   COMMITTEE  ON  RULES  --  (at  request  of  M.  of  A.
   Pheffer Amato) -- read once and referred to the Committee  on  Govern-
   mental Employees
 
 AN  ACT  to  amend  the  administrative code of the city of New York, in
   relation to the  establishment  of  a  twenty-two  and  one-half  year
   retirement program for members of the New York city employees' retire-
   ment  system  employed  as  emergency medical technicians and advanced
   emergency medical technicians; and to amend the retirement and  social
   security  law, in relation to the establishment of twenty-two and one-
   half year retirement programs for such  members  who  are  subject  to
   articles 11 and 15 of such law
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   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  AND  ONE-HALF  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 MEAN-
 ING 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  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 WHO, SUBSEQUENT THERETO,
 BECAME  EMPLOYED  BY THE CITY OF NEW YORK OR BY THE NEW YORK CITY HEALTH
 AND HOSPITALS CORPORATION IN A TITLE WHOSE  DUTIES  REQUIRE  THE  SUPER-
 VISION OF EMPLOYEES WHOSE DUTIES ARE THOSE OF AN EMERGENCY MEDICAL TECH-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14122-06-4
              

 A. 10581                            2
 
 NICIAN  OR  ADVANCED  EMERGENCY  MEDICAL  TECHNICIAN, AS THOSE TERMS ARE
 DEFINED IN SECTION THREE THOUSAND ONE OF  THE PUBLIC HEALTH LAW.
   2.  "TWENTY-TWO  AND  ONE-HALF YEAR RETIREMENT PROGRAM" SHALL MEAN ALL
 THE TERMS AND CONDITIONS OF THIS SECTION.
   3. "STARTING DATE OF  THE  TWENTY-TWO  AND  ONE-HALF  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.
   4.  "PARTICIPANT  IN  THE  TWENTY-TWO  AND  ONE-HALF  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 AND
 ONE-HALF YEAR RETIREMENT PROGRAM AS APPLICABLE TO SUCH MEMBER.
   5. "DISCONTINUED MEMBER" SHALL MEAN A PARTICIPANT  IN  THE  TWENTY-TWO
 ONE-HALF  YEAR  RETIREMENT  PROGRAM  WHO, WHILE THEY WERE AN EMT MEMBER,
 DISCONTINUED SERVICE AS SUCH A MEMBER AND HAS  A  RIGHT  TO  A  DEFERRED
 VESTED BENEFIT UNDER THE PROVISIONS OF SUBDIVISION D OF THIS SECTION.
   6.  "CREDITABLE  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) WITH RESPECT TO AN  INDIVIDUAL  WHO  WAS
 EMPLOYED  ON  THE EFFECTIVE DATE OF THIS SECTION 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, ALL SUCH SERVICE SUBSEQUENT THERETO 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; 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 AND ONE-HALF YEAR  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 AND ONE-HALF YEAR  RETIREMENT  PROGRAM  MAY  ELECT  TO  BECOME  A
 PARTICIPANT  IN  THE  TWENTY-TWO AND ONE-HALF YEAR RETIREMENT PROGRAM BY
 FILING, WITHIN ONE HUNDRED EIGHTY DAYS AFTER THE STARTING  DATE  OF  THE
 TWENTY-TWO  AND ONE-HALF YEAR RETIREMENT PROGRAM, A DULY EXECUTED APPLI-
 CATION FOR SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM OF  WHICH  SUCH
 PERSON  IS  A  MEMBER, PROVIDED SUCH PERSON 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 AND ONE-HALF YEAR RETIREMENT PROGRAM MAY ELECT TO BECOME
 A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR 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 OF WHICH SUCH PERSON IS A MEMBER, PROVIDED SUCH PERSON
 IS SUCH AN EMT MEMBER ON THE DATE SUCH APPLICATION IS FILED.
   3.  ANY  ELECTION  TO  BE A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF
 YEAR RETIREMENT PROGRAM SHALL BE IRREVOCABLE.
   4. WHERE ANY PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF  YEAR  RETIRE-
 MENT  PROGRAM  SHALL  CEASE  TO BE EMPLOYED AS AN EMT MEMBER, THEY SHALL
 CEASE TO BE SUCH A PARTICIPANT AND, DURING  ANY  PERIOD  IN  WHICH  SUCH
 PERSON  IS NOT SO EMPLOYED, THEY SHALL NOT BE A PARTICIPANT IN THE TWEN-
 A. 10581                            3
 
 TY-TWO AND ONE-HALF YEAR RETIREMENT PROGRAM AND SHALL  NOT  BE  ELIGIBLE
 FOR THE BENEFITS OF SUBDIVISION C OF THIS SECTION.
   5.  WHERE  ANY PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR RETIRE-
 MENT PROGRAM TERMINATES SERVICE AS AN EMT MEMBER  AND  RETURNS  TO  SUCH
 SERVICE AS AN EMT MEMBER AT A LATER DATE, THEY 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  AND
 ONE-HALF  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 AND
 ONE-HALF YEAR RETIREMENT PROGRAM:
   (I) WHO HAS COMPLETED TWENTY-TWO AND ONE-HALF OR MORE YEARS OF CREDIT-
 ABLE 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, SUCH PARTICIPANT DESIRES TO
 BE RETIRED; AND
   (III) WHO SHALL BE A PARTICIPANT IN THE TWENTY-TWO AND  ONE-HALF  YEAR
 RETIREMENT  PROGRAM  AT  THE  TIME  SO  SPECIFIED FOR SUCH PARTICIPANT'S
 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 AND
 ONE-HALF 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 SUCH PARTICIPANT'S 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 SUCH PARTICIPANT 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 SALARY EARNED OR EARNABLE IN THE YEAR PRIOR TO
 THEIR RETIREMENT; PLUS
   (II) AN AMOUNT FOR EACH ADDITIONAL YEAR OF CREDITABLE 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
 CREDITABLE  SERVICE  DURING THE PERIOD FROM THE COMPLETION OF TWENTY-TWO
 AND ONE-HALF YEARS OF CREDITABLE CITY SERVICE TO THE DATE OF RETIREMENT.
   D. VESTING. 1. A PARTICIPANT  IN  THE  TWENTY-TWO  AND  ONE-HALF  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 CREDITABLE CITY SERVICE; AND
   (III) DOES NOT WITHDRAW IN WHOLE OR IN PART SUCH PARTICIPANT'S ACCUMU-
 LATED  MEMBER  CONTRIBUTIONS PURSUANT TO SECTION 13-141 OF THIS CHAPTER,
 SHALL BE ENTITLED TO RECEIVE A DEFERRED VESTED BENEFIT  AS  PROVIDED  IN
 THIS SUBDIVISION.
 A. 10581                            4
 
   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
 SUCH MEMBER'S DISCONTINUANCE, MULTIPLIED BY THE NUMBER OF YEARS OF CRED-
 ITABLE CITY SERVICE.
   E. MEMBER CONTRIBUTIONS. 1. ALL EMT  MEMBERS  OF  THE  TWENTY-TWO  AND
 ONE-HALF  YEAR  RETIREMENT  PROGRAM  SHALL  BE  REQUIRED  TO MAKE MEMBER
 CONTRIBUTIONS AND ADDITIONAL MEMBER CONTRIBUTIONS IN ACCORDANCE WITH AND
 SUBJECT TO THE SAME RIGHTS, PRIVILEGES, OBLIGATIONS  AND  PROCEDURES  AS
 GOVERN  THE  MEMBER  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  AND  ONE-HALF  YEAR
 RETIREMENT PROGRAM WHO IS SUBJECT TO THE PROVISIONS OF THIS SECTION, AND
 IS NOT SUBJECT TO THE PROVISIONS OF ARTICLE ELEVEN OF THE RETIREMENT AND
 SOCIAL SECURITY LAW, THE TERM "CREDITED SERVICE", AS USED IN SUCH SUBDI-
 VISION, SHALL BE DEEMED TO MEAN CREDITABLE CITY SERVICE.
   F.  COST-OF-LIVING ADJUSTMENTS. NOTWITHSTANDING ANY OTHER PROVISION OF
 LAW TO THE CONTRARY, A PERSON WHO  RETIRES  WITH  A  RETIREMENT  BENEFIT
 PROVIDED  FOR  IN  THE  TWENTY-TWO  AND ONE-HALF YEAR RETIREMENT PROGRAM
 PURSUANT TO THE PROVISIONS OF THIS SECTION SHALL NOT BE ENTITLED TO  THE
 COST-OF-LIVING  ADJUSTMENTS  PROVIDED  PURSUANT TO SECTION 13-696 OF THE
 ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   § 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
 A. 10581                            5
 
 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
 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 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] SUCH MEMBER is 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
 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
 A. 10581                            6
 
 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
 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, 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
 A. 10581                            7
 
 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  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] SUCH  MEMBER  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 sala-
 ry 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  AND  ONE-HALF  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 DIFFERENT 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
 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 AND ONE-HALF YEAR IMPROVED BENEFIT RETIREMENT PROGRAM"
 SHALL MEAN ALL THE TERMS AND CONDITIONS OF THIS SECTION.
   4. "STARTING DATE OF THE TWENTY-TWO AND ONE-HALF YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM" SHALL MEAN THE EFFECTIVE DATE OF THIS SECTION.
   5. "PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF 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 TWEN-
 TY-TWO AND ONE-HALF YEAR IMPROVED BENEFIT RETIREMENT PROGRAM, AS  APPLI-
 CABLE TO SUCH MEMBER.
   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 AND ONE-HALF YEARS OF CREDITABLE SERVICE AS AN EMT MEMBER.
   9. "CREDITABLE 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
 A. 10581                            8

 YORK  OR  BY  THE  NEW YORK CITY HEALTH AND HOSPITALS CORPORATION IN THE
 TITLE MOTOR VEHICLE OPERATOR.
   B.  ELECTION  OF TWENTY-TWO AND ONE-HALF YEAR IMPROVED BENEFIT RETIRE-
 MENT 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 AND ONE-HALF  YEAR  IMPROVED  BENEFIT  RETIREMENT
 PROGRAM MAY ELECT TO BECOME A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF
 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 SUCH PERSON IS
 SUCH AN EMT MEMBER ON THE DATE SUCH APPLICATION IS FILED.
   2. SUBJECT TO THE PROVISION OF PARAGRAPHS FIVE AND SIX OF THIS  SUBDI-
 VISION,  ANY PERSON WHO BECOMES AN EMT MEMBER AFTER THE STARTING DATE OF
 THE TWENTY-TWO AND ONE-HALF YEAR IMPROVED BENEFIT RETIREMENT PROGRAM MAY
 ELECT TO BECOME A  PARTICIPANT  IN  THE  TWENTY-TWO  AND  ONE-HALF  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 SUCH  PERSON  IS
 SUCH AN EMT MEMBER ON THE DATE SUCH APPLICATION IS FILED.
   3.  ANY  ELECTION  TO  BE A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF
 YEAR IMPROVED BENEFIT RETIREMENT PROGRAM SHALL BE IRREVOCABLE.
   4. WHERE ANY PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR  IMPROVED
 BENEFIT  RETIREMENT  PROGRAM  SHALL  CEASE  TO HOLD A POSITION AS AN EMT
 MEMBER, THEY SHALL CEASE TO BE SUCH A PARTICIPANT AND, DURING ANY PERIOD
 IN WHICH SUCH A PERSON DOES NOT HOLD SUCH AN EMT  POSITION,  THEY  SHALL
 NOT  BE A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR IMPROVED BENE-
 FIT RETIREMENT PROGRAM AND SHALL NOT BE ELIGIBLE  FOR  THE  BENEFITS  OF
 SUBDIVISION C OF THIS SECTION.
   5.  WHERE ANY PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR IMPROVED
 BENEFIT RETIREMENT PROGRAM TERMINATES  SERVICE  AS  AN  EMT  MEMBER  AND
 RETURNS  TO  SUCH  SERVICE  AS AN EMT MEMBER AT A LATER DATE, THEY 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 AND
 ONE-HALF YEAR IMPROVED BENEFIT RETIREMENT PROGRAM PURSUANT TO  PARAGRAPH
 ONE OR TWO OF THIS SUBDIVISION FOR THE FULL ONE HUNDRED EIGHTY DAY PERI-
 OD  PROVIDED  FOR  IN  SUCH APPLICABLE PARAGRAPH AND WHO FAILS TO TIMELY
 FILE A DULY EXECUTED APPLICATION FOR SUCH PARTICIPATION WITH THE RETIRE-
 MENT 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 AND  ONE-HALF
 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 SUCH
 PARTICIPANT  IS  AN  EMT MEMBER, ALL ADDITIONAL MEMBER CONTRIBUTIONS AND
 INTEREST, IF ANY, REQUIRED BY SUBDIVISION D OF THIS SECTION, THEN:
   1. THAT PARTICIPANT, WHILE THEY REMAIN A  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,  THEY  SHALL  NOT  BE SUBJECT TO THE PROVISIONS OF SECTION FOUR
 HUNDRED FORTY-FOUR OF THIS ARTICLE; AND
   3. THEIR 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
 A. 10581                            9
 
 FROM  THEIR  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 SUCH PARTICIPANT 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  ALLOW-
 ANCE  EQUAL TO FIFTY PERCENT OF SUCH PARTICIPANT'S FINAL AVERAGE SALARY,
 PLUS AN AMOUNT FOR EACH ADDITIONAL YEAR OF CREDITABLE SERVICE AS AN  EMT
 MEMBER,  OR  FRACTION  THEREOF,  BEYOND  SUCH REQUIRED MINIMUM PERIOD OF
 SERVICE EQUAL TO TWO PERCENT OF THEIR  FINAL  AVERAGE  SALARY  FOR  SUCH
 CREDITABLE SERVICE AS AN EMT MEMBER DURING THE PERIOD FROM COMPLETION OF
 TWENTY-TWO  AND  ONE-HALF  OR MORE YEARS OF CREDITABLE 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 AND ONE-HALF
 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 THEIR COMPENSATION
 EARNED FROM ALL CREDITED SERVICE, AS A PARTICIPANT IN THE TWENTY-TWO AND
 ONE-HALF YEAR IMPROVED BENEFIT RETIREMENT PROGRAM, RENDERED ON AND AFTER
 THE STARTING DATE OF THE IMPROVED BENEFIT RETIREMENT  PROGRAM,  AND  ALL
 CREDITABLE  SERVICE  AS  AN  EMT MEMBER AFTER SUCH PERSON CEASES TO BE A
 PARTICIPANT, BUT BEFORE THEY AGAIN  BECOME  A  PARTICIPANT  PURSUANT  TO
 PARAGRAPH  FIVE  OF  SUBDIVISION B OF THIS SECTION. A PARTICIPANT IN THE
 TWENTY-TWO AND ONE-HALF YEAR IMPROVED BENEFIT RETIREMENT  PROGRAM  SHALL
 CONTRIBUTE  ADDITIONAL  MEMBER CONTRIBUTIONS UNTIL THE LATER OF THE DATE
 AS OF WHICH SUCH PARTICIPANT IS ELIGIBLE TO RETIRE WITH AT  LEAST  TWEN-
 TY-TWO AND ONE-HALF OR MORE YEARS OF CREDITABLE SERVICE AS AN EMT MEMBER
 UNDER  SUCH RETIREMENT PROGRAM, OR THE FIRST ANNIVERSARY OF THE STARTING
 DATE OF THE TWENTY-TWO AND ONE-HALF  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  ADDI-
 TIONAL   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 AND ONE-HALF YEAR IMPROVED BENE-
 FIT RETIREMENT PROGRAM, ADDITIONAL  MEMBER  CONTRIBUTIONS  AT  THE  RATE
 SPECIFIED  IN  PARAGRAPH  ONE  OF  THIS  SUBDIVISION  SHALL BE DEDUCTED,
 SUBJECT TO THE APPLICABLE PROVISIONS OF SECTION 13-125.2 OF THE ADMINIS-
 TRATIVE CODE, FROM THE COMPENSATION OF  SUCH  PARTICIPANT  ON  EACH  AND
 EVERY  PAYROLL OF SUCH PARTICIPANT FOR EACH AND EVERY PAYROLL PERIOD FOR
 WHICH THEY ARE 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. 10581                           10
 
   (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 SUCH PARTICIPANT 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  AND
 ONE-HALF  YEAR IMPROVED BENEFIT RETIREMENT PROGRAM PURSUANT TO PARAGRAPH
 FIVE OF SUBDIVISION B OF THIS SECTION, AN APPROPRIATE  AMOUNT  SHALL  BE
 INCLUDED IN SUCH PARTICIPANT'S CONTRIBUTION DEFICIENCY, INCLUDING INTER-
 EST  THEREON  AS  CALCULATED PURSUANT TO SUBPARAGRAPH (II) OF THIS PARA-
 GRAPH, FOR ANY CREDITED  SERVICE  WITH  RESPECT  TO  WHICH  SUCH  PERSON
 RECEIVED  A  REFUND  OF  ADDITIONAL  MEMBER CONTRIBUTIONS, INCLUDING ANY
 AMOUNT OF AN UNPAID LOAN BALANCE DEEMED TO HAVE BEEN  RETURNED  TO  SUCH
 PERSON PURSUANT TO PARAGRAPH SEVEN OF THIS SUBDIVISION, AS IF SUCH ADDI-
 TIONAL MEMBER CONTRIBUTIONS NEVER HAD BEEN PAID.
   4. THE BOARD OF TRUSTEES OF THE RETIREMENT SYSTEM MAY, CONSISTENT WITH
 THE  PROVISIONS  OF  THIS  SUBDIVISION,  PROMULGATE  REGULATIONS FOR THE
 PAYMENT OF THE ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY THIS SUBDIVI-
 SION, AND ANY INTEREST THEREON, BY A PARTICIPANT IN THE  TWENTY-TWO  AND
 ONE-HALF   YEAR  IMPROVED  BENEFIT  RETIREMENT  PROGRAM,  INCLUDING  THE
 DEDUCTION OF SUCH CONTRIBUTIONS, AND ANY  INTEREST  THEREON,  FROM  SUCH
 PARTICIPANT'S 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 SUCH PARTICIPANT PURSUANT TO PARAGRAPH THREE OF
 THIS SUBDIVISION, OR REPAY THE ENTIRE AMOUNT OF A LOAN OF  SUCH  PARTIC-
 IPANT'S  ADDITIONAL  MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH EIGHT OF
 THIS SUBDIVISION, INCLUDING ACCRUED INTEREST ON SUCH LOAN, THAT  PARTIC-
 IPANT, NEVERTHELESS, 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  RETIRE-
 MENT  BENEFIT CALCULATED PURSUANT TO THE APPLICABLE PROVISIONS OF SUBDI-
 A. 10581                           11
 
 VISION C OF THIS SECTION 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 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  THEIR  ADDITIONAL
 MEMBER  CONTRIBUTIONS  PURSUANT  TO PARAGRAPH EIGHT OF THIS SUBDIVISION,
 INCLUDING ACCRUED INTEREST ON SUCH LOAN.
   6. SUBJECT TO THE PROVISIONS OF PARAGRAPH FIVE  OF  THIS  SUBDIVISION,
 WHERE  A  PARTICIPANT  HAS  NOT PAID IN FULL ANY CONTRIBUTION DEFICIENCY
 CHARGEABLE TO SUCH PARTICIPANT  PURSUANT  TO  PARAGRAPH  THREE  OF  THIS
 SUBDIVISION,  AND  A  BENEFIT, OTHER THAN A REFUND OF A MEMBER'S ACCUMU-
 LATED DEDUCTIONS OR A REFUND OF ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT
 TO PARAGRAPH SEVEN OF THIS SUBDIVISION, BECOMES PAYABLE BY  THE  RETIRE-
 MENT  SYSTEM  TO  THE  PARTICIPANT OR TO THEIR 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 THEY ARE A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF
 YEAR IMPROVED BENEFIT RETIREMENT PROGRAM OR OTHERWISE.
   (II) SHOULD A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF 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 WHATSOEVER,  SUCH  PARTICIPANT'S  ACCUMULATED  ADDITIONAL  MEMBER
 CONTRIBUTIONS  MADE  PURSUANT  TO  THIS  SUBDIVISION,  TOGETHER WITH ANY
 INTEREST THEREON PAID TO THE RETIREMENT SYSTEM, WHICH REMAIN CREDITED TO
 SUCH PARTICIPANT'S ACCOUNT MAY BE WITHDRAWN BY SUCH PARTICIPANT PURSUANT
 TO PROCEDURES PROMULGATED IN REGULATIONS OF THE BOARD OF TRUSTEES OF THE
 RETIREMENT SYSTEM, TOGETHER WITH INTEREST THEREON AT THE RATE OF  INTER-
 EST  REQUIRED  BY  LAW  TO BE USED TO CREDIT INTEREST ON THE ACCUMULATED
 DEDUCTIONS OF RETIREMENT SYSTEM MEMBERS COMPOUNDED ANNUALLY.
   (III) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY,  (A)
 NO  PERSON SHALL BE PERMITTED TO WITHDRAW FROM THE RETIREMENT SYSTEM ANY
 ADDITIONAL MEMBER CONTRIBUTIONS PAID PURSUANT TO THIS SUBDIVISION OR ANY
 INTEREST PAID THEREON, EXCEPT PURSUANT TO AND  IN  ACCORDANCE  WITH  THE
 PRECEDING SUBPARAGRAPHS OF THIS PARAGRAPH; AND (B) NO PERSON, WHILE THEY
 ARE  A  PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM, SHALL BE PERMITTED TO WITHDRAW ANY  SUCH  ADDITIONAL
 MEMBER CONTRIBUTIONS OR ANY INTEREST PAID THEREON PURSUANT TO ANY OF THE
 PRECEDING SUBPARAGRAPHS OF THIS PARAGRAPH OR OTHERWISE.
   8.  A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR IMPROVED BENEFIT
 RETIREMENT PROGRAM SHALL BE PERMITTED TO BORROW  FROM  THEIR  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 PROCEDURES SET FORTH IN SECTION SIX HUNDRED THIRTEEN-B OF THIS CHAP-
 TER  WHICH GOVERN THE BORROWING BY MEMBERS SUBJECT TO ARTICLE FIFTEEN OF
 THIS CHAPTER OF  MEMBER  CONTRIBUTIONS  MADE  PURSUANT  TO  SECTION  SIX
 A. 10581                           12
 
 HUNDRED  THIRTEEN  OF THIS CHAPTER. THE BOARD OF TRUSTEES OF THE RETIRE-
 MENT SYSTEM MAY, CONSISTENT WITH THE  PROVISIONS  OF  THIS  SUBDIVISION,
 PROMULGATE REGULATIONS GOVERNING THE BORROWING OF SUCH ADDITIONAL MEMBER
 CONTRIBUTIONS.
   9.  WHEREVER A PERSON HAS AN UNPAID BALANCE OF A LOAN OF SUCH PERSON'S
 ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT  TO  PARAGRAPH  EIGHT  OF  THIS
 SUBDIVISION  AT  THE  TIME  SUCH  PERSON BECOMES ENTITLED TO A REFUND OF
 THEIR 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 AND ONE-HALF 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.
   F. COST-OF-LIVING ADJUSTMENTS. NOTWITHSTANDING ANY OTHER PROVISION  OF
 LAW  TO  THE  CONTRARY,  A  PERSON WHO RETIRES WITH A RETIREMENT BENEFIT
 PROVIDED FOR IN THE TWENTY-TWO  AND  ONE-HALF  YEAR  RETIREMENT  PROGRAM
 PURSUANT  TO THE PROVISIONS OF THIS SECTION SHALL NOT BE ENTITLED TO THE
 COST-OF-LIVING ADJUSTMENTS PROVIDED PURSUANT TO SECTION  13-696  OF  THE
 ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   §  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-
 five year retirement program AND PRIOR TO THE STARTING DATE OF THE TWEN-
 TY-TWO  AND ONE-HALF YEAR RETIREMENT PROGRAM PROVIDED FOR IN SECTION SIX
 HUNDRED FOUR-K OF THIS ARTICLE shall [become] CONTINUE TO BE  a  partic-
 ipant  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 AND ONE-HALF YEAR RETIREMENT PROGRAM IN ACCORD-
 ANCE  WITH  THE CONDITIONS AND TERMS OF SUCH SECTION SIX HUNDRED FOUR-K.
 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-k to read as follows:
   §  604-K.  TWENTY-TWO  AND  ONE-HALF  YEAR  RETIREMENT PROGRAM FOR EMT
 MEMBERS. A. DEFINITIONS. THE FOLLOWING WORDS AND PHRASES AS USED IN THIS
 A. 10581                           13
 
 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 AND ONE-HALF YEAR RETIREMENT PROGRAM"  SHALL  MEAN  ALL
 THE TERMS AND CONDITIONS OF THIS SECTION.
   3.  "STARTING  DATE  OF  THE  TWENTY-TWO  AND ONE-HALF YEAR RETIREMENT
 PROGRAM" SHALL MEAN THE EFFECTIVE DATE OF THIS SECTION.
   4.  "PARTICIPANT  IN  THE  TWENTY-TWO  AND  ONE-HALF  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 AND
 ONE-HALF YEAR RETIREMENT PROGRAM, AS APPLICABLE TO SUCH MEMBER.
   5. "DISCONTINUED MEMBER" SHALL MEAN A PARTICIPANT  IN  THE  TWENTY-TWO
 AND  ONE-HALF YEAR RETIREMENT PROGRAM WHO, WHILE SUCH PARTICIPANT WAS AN
 EMT MEMBER, DISCONTINUED SERVICE AS SUCH A MEMBER AND HAS A RIGHT  TO  A
 DEFERRED VESTED BENEFIT UNDER SUBDIVISION D OF THIS SECTION.
   6.  "ADMINISTRATIVE  CODE"  SHALL  MEAN THE ADMINISTRATIVE CODE OF THE
 CITY OF NEW YORK.
   7. "CREDITABLE 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  AND  ONE-HALF  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 AND ONE-HALF 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 PARTIC-
 IPANT IN THE TWENTY-TWO AND ONE-HALF YEAR RETIREMENT PROGRAM BY  FILING,
 WITHIN ONE HUNDRED EIGHTY DAYS AFTER SUCH STARTING DATE, A DULY EXECUTED
 APPLICATION  FOR  SUCH PARTICIPATION WITH THE RETIREMENT SYSTEM OF WHICH
 SUCH PERSON IS A MEMBER, PROVIDED SUCH PERSON 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 AND ONE-HALF 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 AND ONE-HALF 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 AND ONE-HALF YEAR  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  FOR  WHICH  SUCH  PERSON  IS A MEMBER, PROVIDED SUCH
 PERSON IS SUCH AN EMT MEMBER ON THE DATE SUCH APPLICATION IS  FILED.  AN
 A. 10581                           14
 
 EMT  MEMBER WHO ELECTS TO BECOME A MEMBER OF THE TWENTY-TWO AND ONE-HALF
 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  AND  ONE-HALF
 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 AND ONE-HALF YEAR
 RETIREMENT PROGRAM SHALL BECOME A  PARTICIPANT  IN  THE  TWENTY-TWO  AND
 ONE-HALF YEAR RETIREMENT PROGRAM ON THE DATE SUCH PARTICIPANT BECOMES AN
 EMT MEMBER.
   5.  WHERE  ANY PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR RETIRE-
 MENT PROGRAM SHALL CEASE TO HOLD A POSITION AS AN EMT MEMBER, THEY SHALL
 CEASE TO BE SUCH A PARTICIPANT AND, DURING  ANY  PERIOD  IN  WHICH  SUCH
 PERSON  DOES  NOT HOLD SUCH AN EMT POSITION, THEY SHALL NOT BE A PARTIC-
 IPANT IN THE TWENTY-TWO AND ONE-HALF 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 AND ONE-HALF YEAR RETIRE-
 MENT PROGRAM TERMINATES SERVICE AS AN EMT MEMBER  AND  RETURNS  TO  SUCH
 SERVICE AS AN EMT MEMBER AT A LATER DATE, THEY SHALL AGAIN BECOME SUCH A
 PARTICIPANT ON THAT DATE.
   7. NOTWITHSTANDING ANY OTHER PROVISION OF THE LAW TO THE CONTRARY, ANY
 PERSON  WHO  IS ELIGIBLE TO ELECT TO BECOME A PARTICIPANT IN THE TWENTY-
 TWO AND ONE-HALF 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 AND
 ONE-HALF YEAR RETIREMENT PROGRAM:
   (I) WHO HAS COMPLETED TWENTY-TWO AND ONE-HALF OR MORE YEARS OF CREDIT-
 ABLE SERVICE AS AN EMT MEMBER; AND
   (II)  WHO HAS PAID, BEFORE THE EFFECTIVE DATE OF RETIREMENT, ALL ADDI-
 TIONAL MEMBER CONTRIBUTIONS AND INTEREST, IF ANY, REQUIRED  BY  SUBDIVI-
 SION E OF THIS SECTION; AND
   (III)  WHO  FILES WITH THE RETIREMENT SYSTEM OF WHICH SUCH PARTICIPANT
 IS A MEMBER AN APPLICATION FOR SERVICE RETIREMENT SETTING FORTH AT  WHAT
 TIME,  NOT  LESS THAN THIRTY DAYS SUBSEQUENT TO THE EXECUTION AND FILING
 THEREOF, SUCH PARTICIPANT DESIRES TO BE RETIRED; AND
   (IV) WHO SHALL BE A PARTICIPANT IN THE TWENTY-TWO  AND  ONE-YEAR  YEAR
 RETIREMENT  PROGRAM  AT  THE  TIME  SO  SPECIFIED FOR SUCH PARTICIPANT'S
 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, AND
 SUBJECT TO THE PROVISIONS OF PARAGRAPH SIX  OF  SUBDIVISION  E  OF  THIS
 SECTION,  THE SERVICE RETIREMENT BENEFIT FOR PARTICIPANTS IN THE TWENTY-
 TWO AND ONE-HALF YEAR RETIREMENT PROGRAM WHO RETIRE  PURSUANT  TO  PARA-
 GRAPH 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 SUCH PARTICIPANT'S FINAL AVERAGE SALARY; PLUS
   (II) AN AMOUNT ON ACCOUNT OF CREDITABLE SERVICE AS AN EMT  MEMBER,  OR
 FRACTION  THEREOF,  BEYOND SUCH REQUIRED MINIMUM PERIOD OF SERVICE EQUAL
 TO TWO PERCENT OF THEIR FINAL SALARY AS AN EMT MEMBER DURING THE  PERIOD
 A. 10581                           15
 
 FROM  THE  COMPLETION  OF  TWENTY-TWO  AND  ONE-HALF YEARS OF CREDITABLE
 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 AND ONE-HALF YEAR
 RETIREMENT PROGRAM:
   (I) WHO DISCONTINUES SERVICE AS SUCH  A  PARTICIPANT,  OTHER  THAN  BY
 DEATH OR RETIREMENT; AND
   (II)  WHO  PRIOR  TO SUCH DISCONTINUANCE, COMPLETED FIVE BUT LESS THAN
 TWENTY-TWO AND ONE-HALF YEARS OF CREDITABLE 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 THEIR 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
 CREDITABLE 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 AND ONE-HALF YEAR RETIREMENT  PROGRAM
 SHALL  CONTRIBUTE  TO  THE RETIREMENT SYSTEM OF WHICH THEY ARE 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
 OF  SUCH  PARTICIPANT'S  COMPENSATION  EARNED  FROM  (I)  ALL CREDITABLE
 SERVICE, AS A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR RETIREMENT
 PROGRAM, RENDERED ON OR AFTER THE STARTING DATE OF  THE  TWENTY-TWO  AND
 ONE-HALF  YEAR RETIREMENT PROGRAM, AND (II) ALL CREDITABLE SERVICE AFTER
 SUCH PERSON CEASES TO BE A PARTICIPANT, BUT  BEFORE  SUCH  PERSON  AGAIN
 BECOMES A PARTICIPANT PURSUANT TO PARAGRAPH SIX OF SUBDIVISION B OF THIS
 SECTION.  THE ADDITIONAL CONTRIBUTIONS REQUIRED BY THIS SECTION SHALL BE
 IN LIEU OF ADDITIONAL MEMBER CONTRIBUTIONS REQUIRED BY SUBDIVISION D  OF
 SECTION  SIX  HUNDRED FOUR-C OF THIS CHAPTER AS ADDED BY CHAPTER NINETY-
 SIX OF THE LAWS OF NINETEEN HUNDRED NINETY-FIVE, AND 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  SEVEN-
 TY-SEVEN  OF  THE  LAWS OF TWO THOUSAND, AND NO MEMBER MAKING ADDITIONAL
 CONTRIBUTIONS PURSUANT  TO  THIS  SECTION  SHALL  BE  REQUIRED  TO  MAKE
 CONTRIBUTIONS  PURSUANT  TO  SUCH  SUBDIVISION  D OF SECTION SIX HUNDRED
 A. 10581                           16
 
 FOUR-C OF THIS ARTICLE OR SUCH SUBDIVISION  E  OF  SECTION  SIX  HUNDRED
 FOUR-E OF THIS ARTICLE.
   2.  A  PARTICIPANT  IN  THE  TWENTY-TWO  AND  ONE-HALF YEAR RETIREMENT
 PROGRAM SHALL CONTRIBUTE ADDITIONAL MEMBER CONTRIBUTIONS UNTIL THE LATER
 OF (I) THE FIRST ANNIVERSARY OF THE STARTING DATE OF THE TWENTY-TWO  AND
 ONE-HALF YEAR RETIREMENT PROGRAM, OR (II) THE DATE ON WHICH SUCH PARTIC-
 IPANT  COMPLETES  TWENTY-SEVEN AND ONE-HALF 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 AND ONE-HALF YEAR 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 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
 THEY ARE SUCH A PARTICIPANT.
   4. (I) EACH PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF 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 SUCH PERSON'S COMPENSATION PURSUANT TO PARA-
 GRAPH THREE OF THIS SUBDIVISION, IF ANY, TOGETHER WITH INTEREST THEREON,
 COMPOUNDED  ANNUALLY,  AND COMPUTED IN ACCORDANCE WITH THE PROVISIONS OF
 SUBPARAGRAPHS (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 SUCH PERSON 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 THEIR ADDITIONAL
 MEMBER CONTRIBUTIONS INCLUDING ANY INTEREST PAID ON SUCH  CONTRIBUTIONS,
 AGAIN  BECOME  A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR RETIRE-
 MENT PROGRAM PURSUANT TO PARAGRAPH SIX OF SUBDIVISION B OF THIS SECTION,
 AN APPROPRIATE AMOUNT SHALL BE INCLUDED IN SUCH  PARTICIPANT'S  CONTRIB-
 UTION  DEFICIENCY,  INCLUDING INTEREST THEREON AS CALCULATED PURSUANT TO
 SUBPARAGRAPH (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
 A. 10581                           17

 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  SUCH PARTICIPANT PURSUANT TO PARAGRAPHS FOUR
 AND FIVE OF THIS SUBDIVISION, OR REPAY THE ENTIRE AMOUNT OF  A  LOAN  OF
 THEIR  ADDITIONAL  MEMBER  CONTRIBUTIONS PURSUANT TO PARAGRAPH ELEVEN OF
 THIS SUBDIVISION, INCLUDING ACCRUED INTEREST ON SUCH LOAN, THAT  PARTIC-
 IPANT, NEVERTHELESS, SHALL BE ELIGIBLE TO RETIRE PURSUANT TO SUBDIVISION
 C  OF  THIS  SECTION, PROVIDED, HOWEVER, THAT SUCH PARTICIPANT'S SERVICE
 RETIREMENT BENEFIT CALCULATED PURSUANT TO PARAGRAPH TWO OF SUCH SUBDIVI-
 SION 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 SUCH PARTICIPANT'S
 ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO  PARAGRAPH  ELEVEN  OF  THIS
 SUBDIVISION, 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  SUCH  PARTICIPANT  PURSUANT  TO
 PARAGRAPHS FOUR AND FIVE OF THIS SUBDIVISION, OR REPAY THE ENTIRE AMOUNT
 OF A LOAN OF THEIR ADDITIONAL MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH
 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 PARAGRAPH  THREE
 OF  SUBDIVISION  D  OF  THIS SECTION 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 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 THEIR ADDITIONAL
 MEMBER CONTRIBUTIONS PURSUANT TO PARAGRAPH ELEVEN OF  THIS  SUBDIVISION,
 INCLUDING ACCRUED INTEREST ON SUCH LOAN.
   8.  THE HEAD OF A RETIREMENT SYSTEM WHICH INCLUDES PARTICIPANTS IN THE
 TWENTY-TWO AND ONE-HALF YEAR RETIREMENT PROGRAM IN ITS  MEMBERSHIP  MAY,
 CONSISTENT  WITH  THE  PROVISIONS  OF THIS SUBDIVISION, PROMULGATE REGU-
 LATIONS FOR THE PAYMENT OF SUCH ADDITIONAL MEMBER CONTRIBUTIONS, AND ANY
 INTEREST THEREON, BY SUCH PARTICIPANTS, INCLUDING THE DEDUCTION OF  SUCH
 CONTRIBUTIONS,  AND ANY INTEREST THEREON, FROM THE PARTICIPANT'S COMPEN-
 SATION.
   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 SUCH PARTICIPANT 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
 A. 10581                           18
 
 SUBPARAGRAPH (II) OF PARAGRAPH TEN OF THIS SUBDIVISION, BECOMES  PAYABLE
 UNDER THIS ARTICLE TO THE PARTICIPANT OR TO THEIR 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  THEY  ARE A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF
 YEAR RETIREMENT PROGRAM OR OTHERWISE.
   (II) SHOULD A PARTICIPANT IN THE TWENTY-TWO AND ONE-HALF YEAR  RETIRE-
 MENT  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, SUCH PARTICIPANT'S  ACCUMULATED  ADDITIONAL  MEMBER  CONTRIBUTIONS
 MADE  PURSUANT  TO  THIS SUBDIVISION, TOGETHER WITH ANY INTEREST THEREON
 PAID TO THE RETIREMENT SYSTEM, MAY  BE  WITHDRAWN  BY  SUCH  PARTICIPANT
 PURSUANT  TO PROCEDURES PROMULGATED IN REGULATIONS OF THE BOARD OF TRUS-
 TEES 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 THEY
 ARE A  PARTICIPANT  IN  THE  TWENTY-TWO  AND  ONE-HALF  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  AND ONE-HALF YEAR RETIREMENT
 PROGRAM SHALL BE  PERMITTED  TO  BORROW  FROM  THEIR  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 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  RETIRE-
 MENT  SYSTEM MAY, CONSISTENT WITH THE PROVISIONS OF THIS SUBDIVISION AND
 THE PROVISIONS OF SECTION SIX HUNDRED THIRTEEN-B OF THIS ARTICLE AS MADE
 APPLICABLE TO THIS SUBDIVISION,  PROMULGATE  REGULATIONS  GOVERNING  THE
 BORROWING OF SUCH ADDITIONAL MEMBER CONTRIBUTIONS.
   12. WHENEVER A PERSON HAS AN UNPAID BALANCE OF A LOAN OR SUCH PERSON'S
 ADDITIONAL  MEMBER  CONTRIBUTIONS  PURSUANT  TO PARAGRAPH ELEVEN OF THIS
 SUBDIVISION AT THE TIME THEY BECOME ENTITLED TO A REFUND OF THEIR  ADDI-
 TIONAL  MEMBER  CONTRIBUTIONS PURSUANT TO SUBPARAGRAPH (II) OF PARAGRAPH
 TEN OF THIS SUBDIVISION, THE AMOUNT OF SUCH UNPAID LOAN BALANCE, INCLUD-
 ING 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 ACCORD-
 ANCE WITH THE PROVISIONS OF SUCH SUBPARAGRAPH (II).
   F. COST-OF-LIVING ADJUSTMENTS. NOTWITHSTANDING ANY OTHER PROVISION  OF
 LAW  TO  THE  CONTRARY,  A  PERSON WHO RETIRES WITH A RETIREMENT BENEFIT
 PROVIDED FOR IN THE TWENTY-TWO  AND  ONE-HALF  YEAR  RETIREMENT  PROGRAM
 PURSUANT  TO THE PROVISIONS OF THIS SECTION SHALL NOT BE ENTITLED TO THE
 A. 10581                           19

 COST-OF-LIVING ADJUSTMENTS PROVIDED PURSUANT TO SECTION  13-696  OF  THE
 ADMINISTRATIVE CODE OF THE CITY OF NEW YORK.
   § 7. Paragraph 7 of subdivision d of section 613 of the retirement and
 social  security  law,  as  added 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-K  OF  THIS
 ARTICLE)  WHO  IS  A  PARTICIPANT  IN  THE  TWENTY-TWO AND ONE-HALF YEAR
 RETIREMENT PROGRAM (AS DEFINED IN PARAGRAPH FOUR  OF  SUBDIVISION  A  OF
 SUCH SECTION SIX HUNDRED FOUR-K), 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 PARAGRAPHS ONE AND TWO  OF  SUBDIVISION  E  OF  SECTION  SIX
 HUNDRED  FOUR-K  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]  SUCH  MEMBER
 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-K 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
 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.
 A. 10581                           20
 
   § 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 AND ONE-HALF YEAR RETIREMENT PROGRAM,  AS  DEFINED  IN
 PARAGRAPH  TWO  OF SUCH SUBDIVISION A, PICK UP AND PAY TO THE RETIREMENT
 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 AND
 ONE-HALF YEAR RETIREMENT PROGRAM, AS DEFINED IN PARAGRAPH THREE OF  SUCH
 SUBDIVISION  A,  PICK UP AND PAY TO THE RETIREMENT SYSTEM ALL ADDITIONAL
 MEMBER CONTRIBUTIONS WHICH OTHERWISE WOULD BE REQUIRED  TO  BE  DEDUCTED
 FROM  SUCH  MEMBER'S  COMPENSATION  PURSUANT  TO  SUBDIVISION  D OF SUCH
 SECTION FOUR HUNDRED FORTY-FIVE-J, AND SHALL 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 AND ONE-HALF YEAR RETIREMENT PROGRAM, AS DEFINED IN PARAGRAPH TWO
 OF  SUBDIVISION  A  OF  SECTION 13-157.5 OF THIS CHAPTER, THE ADDITIONAL
 MEMBER CONTRIBUTIONS OF SUCH PARTICIPANT PICKED UP PURSUANT TO  SUBDIVI-
 SION  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-
 TY-TWO  AND  ONE-HALF  YEAR  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
 A. 10581                           21
 
 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 section 3 of part EE of chapter 55 of  the  laws
 of 2024, 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 subdivision c of section six hundred four-i of  this  arti-
 cle,  [or]  subdivision c of section six hundred four-j of this article,
 OR SUBDIVISION  C  OF  SECTION  SIX  HUNDRED  FOUR-K  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 their retirement benefit upon attainment  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  their
 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  article  for  all
 years  of  credited  and  creditable  service, provided further that the
 preceding provisions of this subdivision shall not apply to a  New  York
 city revised plan member.
   §  13. Subdivision d of section 613 of the retirement and social secu-
 rity law is amended by adding a new paragraph 13 to read as follows:
   13. (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-K
 A. 10581                           22
 
 OF THIS ARTICLE, WHO IS A PARTICIPANT IN  THE  TWENTY-TWO  AND  ONE-HALF
 YEAR  RETIREMENT  PROGRAM, AS DEFINED IN PARAGRAPH FOUR OF SUBDIVISION A
 OF SUCH SECTION SIX HUNDRED FOUR-K, 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-K, 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 SUCH MEMBER 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-K 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-K 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, twelve and twelve-a 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  there-
 on.
   § 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 sections 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
 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
 A. 10581                           23
 
 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: This proposed legislation would establish  22.5-Year  Retire-
 ment  Programs  for  New  York  City  Emergency Medical Technicians (EMT
 22.5-Year Plans) for each tier.
           EXPECTED INCREASE (DECREASE) IN EMPLOYER CONTRIBUTIONS
           by Fiscal Year for the first 25 years ($ in Millions)
 
                     Year      NYCERS
                     2025        26.3
                     2026        26.0
                     2027        25.9
                     2028        25.8
                     2029        25.6
                     2030        25.2
                     2031        24.8
                     2032        24.5
                     2033        24.1
                     2034        23.8
                     2035        23.3
                     2036        22.8
                     2037         6.7
                     2038         6.3
                     2039         6.0
                     2040         5.6
                     2041         5.2
                     2042         4.7
                     2043         4.1
                     2044         3.5
                     2045         3.0
                     2046         2.5
                     2047         2.1
                     2048         1.9
                     2049         1.8
    Employer Contribution impact beyond Fiscal Year 2049 is not shown.
             Projected contributions include future new hires.
 
   The entire increase in employer contributions will be allocated to New
 York City.
 A. 10581                           24
 
           INITIAL INCREASE (DECREASE) IN ACTUARIAL LIABILITIES
                    as of June 30, 2023 ($ in Millions)
              Present Value (PV)                 NYCERS
              PV of Benefits:                    159.9
              PV of Employee Contributions:      (43.2)
              PV of Employer Contributions:      203.1
              Unfunded Accrued Liabilities:      120.2
 
                AMORTIZATION OF UNFUNDED ACCRUED LIABILITY
                                                 NYCERS
              Number of Payments:                12
              Fiscal Year of Last Payment:       2036
              Amortization Payment:              15.7 M
 
   Unfunded  Accrued Liability increases were amortized over the expected
 remaining working lifetime of those  impacted  by  the  benefit  changes
 using level dollar payments.
   CENSUS  DATA:  The estimates presented herein are based on preliminary
 census data collected as of June 30, 2023. The census data for the emer-
 gency medical technicians assumed to elect  an  EMT  22.5-Year  Plan  is
 summarized below.
 
                                                 NYCERS
              Active Members
              - Number Count:                    3,657
              - Average Age:                     35.6
              - Average Service:                 8.6
              - Average Salary:                  71,600
 
   IMPACT  ON MEMBER BENEFITS AND CONTRIBUTIONS: The proposed legislation
 would provide a service retirement benefit equal to
   o 50% of Final Average Salary (FAS) for the first 22.5 years of  cred-
 itable service as an EMT member,
   o  plus  2.0%  of  Final Salary for each additional year of creditable
 service as an EMT member exceeding 22.5 years to a maximum of 5 years.
   Once a member in the EMT 22.5-Year Plan attains 22.5 years of credita-
 ble service as an EMT member, he or she would no longer be  eligible  to
 retire under his or her respective basic plan.
   The  vested  benefit under the EMT 22.5-Year Plans is equal to 2.0% of
 FAS for each year of creditable service as an EMT member.
   The retirement benefits provided by the EMT 22.5-Year Plan  would  not
 be subject to cost-of-living adjustments (COLA).
   Plan  participants would be required to pay Additional Member Contrib-
 utions (AMC) equal to 6.5% of compensation for all service on and  after
 the  starting  date of the Plan until the later of the one-year anniver-
 sary of the effective date of the Plan or 27.5 years of credited service
 as an EMT member.
   ASSUMPTIONS AND METHODS: The  estimates  presented  herein  have  been
 calculated  based  on the Revised 2021 Actuarial Assumptions and Methods
 of NYCERS. In addition:
   o The rates of retirement for the EMT 22.5-Year  Plans  were  assigned
 based  on  the members' eligibility to elect or opt out of the plan. The
 EMT 22.5-Year Plan is optional for  current  emergency  medical  techni-
 cians.  The EMT 22.5-Year Plan is mandatory for future emergency medical
 technicians.
 A. 10581                           25
 
   o New entrants were assumed to replace exiting members so  that  total
 payroll for emergency medical technicians increases by 3% each year. New
 entrant  demographics  were developed based on data for recent new hires
 and actuarial judgement. Future members will be mandated  into  the  EMT
 22.5-Year plan.
   o  For  purposes  of  this  Fiscal  Note, creditable service as an EMT
 member was assumed to include non-EMT service, due to insufficient data.
   To determine the impact of the elective nature of the proposed  legis-
 lation,  a subgroup of EMT members was developed based on who is assumed
 to benefit actuarially by comparing the  net  present  value  of  future
 employer  costs  of  each  member's benefit under their current plan and
 under the applicable EMT 22.5-Year Plan.
   RISK AND UNCERTAINTY: The costs presented in this Fiscal  Note  depend
 highly  on  the  data,  actuarial assumptions, methods, and models used,
 demographics of the impacted  population,  and  other  factors  such  as
 investment, contribution, and other risks. If actual experience deviates
 from  actuarial  assumptions,  the  actual costs could differ from those
 presented herein. Quantifying these risks is beyond the  scope  of  this
 Fiscal Note.
   This  Fiscal  Note  is intended to measure pension-related impacts and
 does not include other potential costs (e.g., administrative  and  Other
 Postemployment  Benefits). This Fiscal Note does not reflect any chapter
 laws that may have been enacted during the current legislative session.
   STATEMENT OF ACTUARIAL OPINION: Marek Tyszkiewicz and Gregory Zelikov-
 sky are members of the Society of Actuaries and the American Academy  of
 Actuaries.  We  are  members of NYCERS but do not believe it impairs our
 objectivity and we meet the  Qualification  Standards  of  the  American
 Academy  of  Actuaries to render the actuarial opinion contained herein.
 To the best of our knowledge, the results  contained  herein  have  been
 prepared  in accordance with generally accepted actuarial principles and
 procedures and with the Actuarial Standards of Practice  issued  by  the
 Actuarial Standards Board.
   FISCAL  NOTE  IDENTIFICATION:  This  Fiscal Note 2024-68 dated May 24,
 2024 was prepared by the Chief Actuary for the New York City  Retirement
 Systems and Pension Funds. This estimate is intended for use only during
 the 2024 Legislative Session.