The bill amends the Second Class City Firemen Relief Law, originally enacted on May 25, 1933, to update provisions regarding membership requirements, pensions for surviving spouses, and eligibility for surviving children. Key changes include the requirement for individuals eligible for membership to sign an acceptance of the act's provisions, which includes relinquishing rights to the fund upon resignation or dismissal. The bill also stipulates that contributions to the fund will be six percent of monthly wages, with additional contributions from beneficiaries. It establishes that upon the death of a member in active service, their widow will receive monthly payments that, combined with any workers' compensation benefits, equal fifty percent of the member's salary at the time of death.

Significant deletions from the current law include the removal of conditions that would terminate payments to surviving spouses upon remarriage and the stipulation that payments to children would cease upon the widow's remarriage. The bill clarifies that payments to dependent children will continue until they reach eighteen years of age or marry, and it allows for indefinite payments to dependent incompetent children. Additionally, in the absence of a surviving spouse or children, dependent parents of the deceased member will receive payments that the widow would have received. The act is set to take effect 60 days after its passage.