2023 New York Laws › GMU - General Municipal › Article 11-AA - Defined Contribution Service Award Programs for Volunteer Ambulance Workers › 219-C - Definitions.

§ 219-c.  Definitions.  As used in this article:
1.  "Ambulance  company" shall mean a municipal ambulance service or a
  voluntary ambulance service, but shall not include an ambulance  service
  organized pursuant to section two hundred nine-b of this chapter.
2.  "Defined  contribution  plan" means any service award program that
  provides to a participant a  benefit  as  the  result  of  definite  and
  determinable  contributions  made  to  the  program  on  behalf  of  the
  participant without reference to any income, expense, gains or losses or
  forfeitures of other participants under the program.
3. "Entitlement age" means the earliest age, except  in  the  case  of
  disability  or  death,  designated by the sponsor at which a participant
  who has a nonforfeitable right to a service award is entitled  to  apply
  for  and  begin receiving a service award. In no event shall entitlement
  age be earlier than age fifty-five nor later than age sixty-seven.
3-a. "Fiduciary" means any person, including an administrative service
  agency and a financial organization, exercising discretionary  authority
  or control with respect to the administration of a service award program
  or  the  custody,  management  or  disposition of program assets, or any
  person who renders advice to the program for a fee.
4. "Fund" means the volunteer ambulance  service  award  fund  created
  pursuant to this article.
4-a.  "Municipal  ambulance  service"  means  an  ambulance service as
  defined in subdivision two of section three thousand one of  the  public
  health  law operated by a municipal corporation or agency thereof, or by
  an ambulance district, and staffed in whole  or  in  part  by  volunteer
  ambulance workers.
5.  "Nonforfeitable"  means  the unconditional and legally enforceable
  right to receive a service award.
6. "Participant" means a volunteer ambulance worker who satisfies  the
  age  and  service requirements of subdivision one of section two hundred
  nineteen-e of this article.
6-a. "Political subdivision" means  a  county,  city,  town,  village,
  ambulance  district, or fire protection district which contracts with an
  ambulance service which is not organized pursuant to section two hundred
  nine-b of this chapter.
7. "Service award" means the benefit payable  pursuant  to  a  service
  award program.
8.  "Service  award program" or "program" means a defined contribution
  plan established, adopted and maintained under this article  to  provide
  service awards for volunteer ambulance workers.
9.   "Sponsor"   or   "sponsoring   organization"  means  a  political
  subdivision which adopts a service award program.
9-a. "Voluntary ambulance  service"  means  an  ambulance  service  as
  defined in subdivision three of section three thousand one of the public
  health law (i) operating not for pecuniary profit or financial gain, and
  (ii)  no  part  of the assets or income of which is distributable to, or
  enures to the benefit of its members, directors or  officers  except  to
  the extent permitted under article thirty of the public health law.
9-b.  "Volunteer ambulance worker" means an active volunteer member of
  an ambulance company as specified on a list regularly maintained by  the
  company for purposes of the volunteer ambulance workers' benefit law.
10.  "Year  of ambulance service" means a calendar year during which a
  volunteer  ambulance  worker  accumulates  at  least  fifty  points   in
  accordance  with the system established pursuant to subdivision three of
  section two hundred nineteen-e of this article.
11. "Elected or appointed position" means  the  directors,  president,
  vice  president,  treasurer,  secretary  or other corporate officers and
  line officers of an ambulance company.
12.  "Administrator"  or  "plan   administrator"   means   the   state
  comptroller,   or   an   administrative   service  agency  or  financial
  organization selected by the state  comptroller  to  perform  all  or  a
  portion of the functions required to administer service award programs.
13.   "Administrative  service  agency"  means  an  organization  duly
  authorized to do business  in  the  state  and  which  is  qualified  to
  administer  and  maintain  records  and accounts of plans which meet the
  requirements for qualification  under  the  internal  revenue  code  and
  governmental plans.
14.  "Financial organization" means an organization duly authorized to
  do business in the state and which is (i) registered  as  an  investment
  adviser  under  the  Investment Advisers Act of 1940, as such provisions
  may be amended from time to time; (ii)  licensed  or  chartered  by  the
  state  department of financial services; (iii) chartered by an agency of
  the  federal  government;  or  (iv)  subject  to  the  jurisdiction  and
  regulation  of  the  securities  and  exchange commission of the federal
  government.