Bill > A09689

This bill establishes a retirement service credit for volunteer fire or emergency service in New York state. Specifically, it allows members of public retirement systems in New York to obtain one year of service credit for every five years of volunteer fire or emergency service, up to a maximum of three years of credit. To be eligible, members must have at least five years of credited service, excluding the volunteer service. Members will need to pay the appropriate retirement system a sum equal to 3% of their recent compensation for each year of volunteer service credited. The costs associated with this credit, other than the member payments, will be covered by the state and participating employers in the retirement systems.