This bill establishes an Emergency Services Part within the Public Employees Retirement System (PERS) to provide enhanced pension and death benefits for certain emergency services employees, aligning these benefits with those available to law enforcement officers. The bill defines "emergency services employee" to include various positions such as emergency medical technicians, paramedics, public safety telecommunicators, and certain fire officials, among others. It mandates that employees in these roles who are already enrolled in PERS must transition to the Emergency Services Part within 120 days of the bill's enactment, while new employees in these positions will automatically be enrolled. The bill also outlines eligibility criteria for retirement and death benefits, including provisions for early retirement and accidental disability benefits.

Additionally, the bill specifies that the State will not bear any increased pension costs resulting from the enrollment of emergency services employees in the new part of PERS. It ensures that the unfunded accrued liability associated with the Emergency Services Part will be calculated and amortized similarly to existing retirement system liabilities. Overall, the legislation aims to enhance the retirement security of emergency services personnel while maintaining fiscal responsibility for local governments.