§ 219-i. Conversion to defined benefit plan. The sponsor of a service
award program adopted pursuant to this article may convert such program
into a defined benefit plan authorized by article eleven-AAA of this
chapter by adopting a defined benefit service award program in
accordance with the procedures set forth in section two hundred
nineteen-l of this chapter. Upon conversion to a defined benefit plan, a
service award program adopted pursuant to this article which provides
contributions for years of ambulance service rendered by a participant
during the five calendar years immediately preceding the year in which
the program is adopted need not provide credit for years of ambulance
service rendered prior to the adoption of the program. Upon the
conversion of a service award program, the program shall be governed by
the provisions of article eleven-AAA of this chapter as if the program
was originally adopted pursuant to such article eleven-AAA, provided,
that (1) conversion of a service award program shall not affect the
number of years of ambulance service earned by a volunteer ambulance
worker or a participant's status as having a nonforfeitable right to a
service award or the amount of a service award paid in whole or in part
prior to the conversion, and (2) upon conversion of a service award
program adopted pursuant to this article which provides contributions
for years of ambulance service rendered by a participant during the five
calendar years immediately preceding the year in which the program is
adopted, if the converted program provides for credit for years of
ambulance service rendered by a participant during the five calendar
years immediately preceding the year in which the program is adopted, if
the converted program provides for credit for years of ambulance service
rendered during the five calendar years immediately preceding the
adoption of the program, such five year period shall be measured from
the date of adoption of the program pursuant to this article. The
comptroller may promulgate rules and regulations relating to such
conversions including, but not limited to, the disposition of assets and
the time and manner of making any additional payments required to fund
benefits attributable to years of ambulance service earned prior to the
conversion over a period not to exceed five years.