§ 89-Y — Twenty-five year retirement plan for firefighters employed by the division of military and naval affairs

§ 89-y. Twenty-five year retirement plan for firefighters employed by\nthe division of military and naval affairs. a. A member who serves as an\nairport firefighter apprentice, airport firefighter I, airport\nfirefighter II, airport firefighter III, or training and safety officer\nand is employed by the division of military and naval affairs shall be\neligible to retire pursuant to the provisions of this section. Such\neligibility shall be an alternative to the eligibility provisions\navailable under any other plan of this article to which such member is\nsubject.\n b. Such member shall be entitled to retire upon the completion of\ntwenty-five years of total creditable service by filing an application\ntherefor in the manner provided for in section seventy of this article.\n c. Upon completion of twenty-five years of such service and upon\nretirement, each such member shall receive a pension which, together\nwith an annuity which shall be the actuarial equivalent of their\naccumulated contributions at the time of their retirement and an\nadditional pension which is the actuarial equivalent of the\nreserved-for-increased-take-home-pay to which they may then be entitled\nshall be sufficient to provide them with a retirement allowance equal to\none-half of their final average salary.\n d. As used in this section, "creditable service" shall include any and\nall services performed as a firefighter apprentice, airport firefighter\nI, airport firefighter II, airport firefighter III, or training and\nsafety officer employed by the division of military and naval affairs.\n e. Credit for service as a paid firefighter or officer of any\norganized fire department shall also be deemed to be creditable service\nand shall be included in computing years of total service for retirement\npursuant to this section.\n f. A member contributing on the basis of this section at the time of\nretirement, may retire after the completion of twenty-five years of\ntotal creditable service. Application therefor may be filed in a manner\nsimilar to that provided in section seventy of this article. Upon\ncompletion of twenty-five years of such service and upon retirement,\neach such member shall receive a pension which, together with an annuity\nwhich shall be the actuarial equivalent of their accumulated\ncontributions at the time of their retirement and an additional pension\nwhich is the actuarial equivalent of the\nreserved-for-increased-take-home-pay to which they may then be entitled\nshall be sufficient to provide them with a retirement allowance equal to\none-half of their final average salary; for service beyond twenty-five\nyears and for non-firefighter service the benefit is increased by\none-sixtieth of final average salary for each year of additional service\ncredit.\n g. In computing the twenty-five years of total service of a member\npursuant to this section full credit shall be given and full allowance\nshall be made for service of such member in time of war after World War\nI as defined in section two of this article, provided such member at the\ntime of their entrance into the armed forces was in the service of the\nstate.\n h. Nothing in this section shall be construed to prevent a member, who\ndoes not retire pursuant to the provisions of this section, from\nutilizing service which is creditable service pursuant to the provisions\nof this section for service credit pursuant to the provisions of any\nother plan of this article to which such member is subject.\n i. The provisions of this section shall be controlling notwithstanding\nany other provision in this article to the contrary.\n j. Any member who, on or before the effective date of this section, is\na firefighter apprentice, airport firefighter I, airport firefighter II,\nairport firefighter III, or training and safety officer employed by the\ndivision of military and naval affairs may, by filing an election within\none year after the effective date of this section, elect to be subject\nto the provisions of this section. Such election shall be in writing,\nshall be duly executed and filed with the comptroller and shall be\nirrevocable.\n