NY A10581

Establishes a 22.5-year retirement program for NYC emergency medical technicians (EMTs) and advanced EMTs, allowing them to retire with a pension after 22.5 years of creditable service regardless of age.

Provides a service retirement benefit of 50% of final average salary for the first 22.5 years of creditable service as an EMT, plus 2% of final salary for each additional year of service (maximum 5 additional years).

Requires participating EMTs to contribute an additional 6.5% of compensation until the later of one year after the program's effective date or 27.5 years of credited service; these contributions are not subject to cost-of-living adjustments.

Establishes vesting rights for EMTs who discontinue service after 5 years but less than 22.5 years of creditable service, providing a deferred vested benefit of 2% of final average salary multiplied by years of service.

Creates an estimated employer contribution cost of $26.3 million in fiscal year 2025, declining to $1.8 million by fiscal year 2049, with total unfunded accrued liability of $120.2 million.