§ 215 — Definitions

§ 215. Definitions. As used in this article:\n 1. "Active volunteer firefighter" means a person who has been approved\nby the authorities in control of a duly organized volunteer fire company\nor volunteer fire department as an active volunteer firefighter of such\nfire company or department and who is faithfully and actually performing\nservice in the protection of life and property from fire or other\nemergency, accident or calamity in connection with which the services of\nsuch fire company or fire department are required.\n 2. "Defined benefit plan" means any service award program that\nprovides to eligible volunteer firefighters, a benefit that is\ndefinitely determinable under the program without reference to the\namount contributed to the program on the participant's behalf or to any\nincome, expenses, gains or losses or forfeitures of other participants\nunder the program.\n 3. "Defined contribution plan" means any service award program that\nprovides to eligible volunteer firefighters a benefit as the result of\ndefinite and determinable contributions under the program, and without\nreference to any income, expense, gains or losses or forfeitures of\nother participants under the program.\n 4. "Entitlement age" means the age designated by the sponsor at which\na program participant is entitled to begin receiving an unreduced\nservice award. In no event shall the entitlement age under a program be\nearlier than age fifty-five nor later than the age at which the\nparticipant can receive an unreduced benefit under Title II of the\nSocial Security Act (Public Law 74-271 U.S.C. 306 et seq.). No service\naward program may provide for the payment of benefits (except in the\ncase of death or disability) before age fifty-five.\n 5. "Fiduciary" means any person who exercises discretionary authority\nor control with respect to the administration of the program or the\nmanagement or disposition of program assets or who renders investment\nadvice for a fee to the program.\n 5-a. "Fire service area" means a portion of a village that receives\nfire protection from a special fire department pursuant to a contract\nwith the governing board of the village when the cost of the contract is\ncharged to such area of the village.\n 6. "Nonforfeitable" means the unconditional and legally enforceable\nright to receive benefits attributable to service as an active volunteer\nfirefighter under the program that will begin at the entitlement age\nspecified in the program.\n 7. "Participant" means an active volunteer firefighter who is eligible\nfor a benefit under a service award program.\n 7-a. "Political subdivision" means a county, city, town, town on\nbehalf of a fire protection district, village, village on behalf of fire\nservice area or fire district.\n 8. "Service award" means the benefit payable to a participant in a\nservice award program.\n 9. "Service award program" or "program" means a defined benefit plan\nor defined contribution plan established or maintained under this\narticle to provide service awards for active volunteer firefighters,\npursuant to the benefit options specified by the sponsoring\norganization.\n 9-a. "Special fire company or department" means a fire company or\ndepartment for which a service award program cannot be established\npursuant to subdivision one or two of section two hundred sixteen of\nthis article which provides fire protection services to two or more\npolitical subdivisions under contracts with the governing boards\nthereof.\n 10. "Sponsor" or "sponsoring organization" means a political\nsubdivision which has established or jointly established a service award\nprogram, a volunteer fire company or department, or any other entity\nresponsible for fire protection.\n 11. "Year of firefighting service" means a twelve month period during\nwhich an active volunteer firefighter participates in the fire service\nand satisfies the minimum requirements of participation established by\nthe sponsoring organization maintaining the program which shall be\napplied on a consistent and uniform basis, subject to the minimum\nstandards established by the sponsoring organization.\n 12. "Elected or appointed position" means line officers, department or\ncompany officers and president, vice president, treasurer and secretary\nof a fire company or department.\n 13. "Administrator" or "plan administrator" means the state\ncomptroller, or an administrative service agency or financial\norganization selected by the state comptroller to perform all or a\nportion of the functions required to administer service award programs.\n 14. "Administrative service agency" means an organization duly\nauthorized to do business in the state and which is qualified to\nadminister and maintain records and accounts of plans which meet the\nrequirements for qualification under the internal revenue code and\ngovernmental plans.\n 15. "Financial organization" means an organization duly authorized to\ndo business in the state and which is (i) registered as an investment\nadviser under the Investment Advisers Act of 1940, as such provisions\nmay be amended from time to time; (ii) licensed or chartered by the\nstate department of financial services; (iii) chartered by an agency of\nthe federal government; or (iv) subject to the jurisdiction and\nregulation of the securities and exchange commission of the federal\ngovernment.\n