BILL NUMBER: S4598
SPONSOR: JACKSON
 
TITLE OF BILL:
An act to amend the retirement and social security law, in relation to
the eligibility of certain participants in the New York city employees'
retirement system to opt into the twenty-five year retirement program
for EMT members
 
PURPOSE:
This bill provides New York City EMT members with the option to opt into
the 25-year retirement program.
 
SUMMARY OF PROVISIONS:
Section 1 amends paragraph 3 of subdivision b of Section 604-E of the
Retirement and Social Security Law to provide New York City EMT members
with the option to opt into a 25-year retirement program if the EMT
files a duly executed election form with the retirement system within
180 days after the effective date of this bill.
Section 2 is the effective date.
 
JUSTIFICATION:
The Twenty-Five Year Retirement Program for EMT members provides EMTs
and Paramedics with an opportunity to retire with a full pension after
25 years of service, regardless of age. The job performed by these
covered emergency medical clinicians is hazardous and extremely stress-
ful. The early retirement opportunity has been extended to the, as with
other uniformed service workers, in recognition of the vital service
they provide to members of the public.
However, the right to participate in the program is conditioned on the
member's paying substantial additional member contributions to the
Retirement System, specifically 6.25% of their salary. While those hired
into covered employment are mandated into the program, the law makes an
exception for persons who were older than 25 years of age at the time of
hire. These individuals have been permitted to opt out of the program,
provided they elect to do so within 180 days of their hire date.
Over the years since the law was enacted, a small group of covered
employees have opted out. A number of these now recognize that this was
a mistake - a mistake that was not apparent to them when they were young
and first hired.
If adopted, this bill will give these persons a one-time opportunity to
reverse that choice and opt into the program, provided that they make
that election with 180 days of the date of enactment and agreed to make
all the additional member contributions that they would have made had
they not opted out when they were hired, plus interest. Allowing these
individuals to opt in will only put them in a position equivalent to
their coworkers hired at the same time who did not opt out. Moreover, by
conditioning the opt-in on the participant's payment of all of the past
AMCs and interest, there should be no material fiscal impact on the
plan.
 
LEGISLATIVE HISTORY:
2023-2024: S.6976/ A.7420 - vetoed by the Governor
 
STATE AND LOCAL FISCAL IMPLICATIONS:
See fiscal note.
 
EFFECTIVE DATE:
This act shall take effect immediately.

Statutes affected:
S4598: 604-e retirement and social security law, 604-e(b) retirement and social security law