NY A09395

Establishes a new 25-year retirement plan for firefighters employed by the Division of Military and Naval Affairs, including airport firefighter apprentices, airport firefighters I-III, and training and safety officers.

Members completing 25 years of creditable service receive a pension equal to one-half of final average salary, plus an annuity equivalent to accumulated contributions and reserved-for-increased-take-home-pay.

Creditable service includes any service as a firefighter apprentice or airport firefighter with the Division of Military and Naval Affairs, plus prior service as a paid firefighter with any organized fire department and military service during wartime.

For service beyond 25 years, the retirement benefit increases by one-sixtieth of final average salary for each additional year of service credit.

Current employees may elect within one year of the effective date to be subject to this plan instead of other available retirement plans, and the election is irrevocable; takes effect January 1, 2025.