reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.14 - Notice of amendment or termination

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Within 30 days after the amendment of any
				of the terms of a service award program as set forth in the adoption agreement,
				or the termination of the sponsor's participation in a service award program,
				the chief executive officer of the sponsor shall file with the Comptroller in
				Albany, NY, two copies of a verified notice of amendment or notice of
				termination which shall contain the following:
(1) a statement of the date on which the
				governing board of the sponsor approved the resolution authorizing the
				amendment or termination of the program and the vote thereon, and a certified
				copy of the resolution;
(2) in the
				case of termination, or if the amendment requires submission of a proposition
				to the electors of the sponsor, a statement of the date on which the electors
				approved the proposition authorizing the amendment or termination and the vote
				thereon, and a certified copy of the proposition; and
(3) an opinion of legal counsel which shall:
(i) be addressed to the sponsor;
(ii) expressly provide that the administrator
				may rely thereon;
(iii) state that
				in his or her capacity as legal counsel to the sponsor, he or she has examined
				originals or true and complete copies of those records, documents and other
				instruments necessary to render his or her opinion, including, but not limited
				to: the provisions of article 11-AAA of the General Municipal Law and such
				other statutes as may be relevant; the resolution of the governing board of the
				sponsor authorizing the amendment or termination of the program; proof that the
				program actuary calculated the estimated annual cost of the amended program
				including administration costs or the additional costs, if any, of terminating
				a program; proof of any posting and publication of required notice and the
				certificate certifying the result of the vote on the proposition authorizing
				the amendment or termination of the program; and
(iv) express his or her opinion the sponsor
				has undertaken all actions and proceedings required by law to amend or
				terminate the program.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.15 - Conversion to defined benefit plan

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A defined contribution plan service award
				program adopted in accordance with article l1-AA of the General Municipal Law
				may be converted into a defined benefit plan service award program in
				accordance with sections 219-i and
				219-l  of the General Municipal Law and
				these rules and regulations.
(b) In
				addition to the requirements of section 2l9-l of the General Municipal Law, the
				resolution authorizing conversion of a service award program shall include: a
				statement that the purpose of the resolution is to authorize the conversion of
				a defined contribution plan service award program into a defined benefit plan
				service award program;
(c) In
				addition to the requirements of section 219-l  of the General Municipal Law, the
				proposition authorizing the conversion of a service award program shall
				identify the program and include a statement that the purpose of the
				proposition is to authorize conversion of a defined contribution plan service
				award program into a defined benefit plan service award program.
(d) No person who applied for a distribution
				of a service award under a defined contribution plan service award program
				before the effective date of the conversion of the program into a defined
				benefit plan service award program shall be eligible for a distribution under
				the defined benefit plan service award program. Any distribution to such person
				shall be made in accordance with the provisions of the defined contribution
				plan service award program.
(e) All
				the assets within the defined contribution plan service award program trust
				fund on the effective date as of which a defined contribution plan service
				award program is converted to a defined benefit plan service award program
				shall be transferred to the defined benefit plan service award program trust
				fund and shall become the initial assets of the replacement defined benefit
				plan service award program. Any prior service contributions owed to the defined
				contribution plan service award program trust fund under the provisions of the
				defined contribution plan service award program by the sponsor shall no longer
				be payable, shall not be considered as an asset of the defined benefit plan
				program and shall not be considered as an asset in any calculations by the
				program actuary of the cost or costs of the defined benefit plan service award
				program. Except for those persons who applied for a distribution of a defined
				contribution plan service award before the effective date of the conversion to
				a defined benefit plan, no person shall have any right to payment of a defined
				contribution plan service award, or any claim whatsoever to the assets held
				within the defined contribution plan service award program trust
				fund.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.16 - Administration

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Service award
				programs shall be administered by the State Comptroller unless the Comptroller
				retains or designates an administrative service agency, financial organization,
				and/or an actuary to administer the programs.
(b) In the event that there is a change in
				the identity of the administrator, the Office of the State Comptroller shall
				notify the chief executive officer of each sponsor of a service award program
				of the change.
(c) The
				administrator shall:
(1) prepare standard
				forms of a program agreement and adoption agreement which shall be utilized by
				all program sponsors;
(2) prepare
				and distribute all forms and documents necessary for the administration of the
				program;
(3) compile and maintain
				all records required for the administration of the program, including records
				of participant accrued benefit amounts;
(4) prepare and distribute to participants,
				ambulance companies and sponsors, the reports and program summaries as required
				by these rules and regulations;
(5)
				if the Comptroller is not the administrator, prepare and furnish to the
				Comptroller such reports as the Comptroller may require;
(6) record and process contributions made by
				program sponsors;
(7) cooperate
				with the program actuary, and, program trustee to ensure the effective and
				efficient operation of the programs, including the provision in a timely manner
				of such information as the program actuary and program trustee may require to
				exercise and perform their powers and duties;
(8) approve applications for distributions of
				service awards;
(9) record and
				process distributions of service awards;
(10) withhold all taxes and prepare all tax
				reporting forms required by Federal, State and local law; and
(11) perform such other functions as may be
				required by or pursuant to article 11-AAA of the General Municipal Law and this
				Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.17 - Program actuary

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				The Comptroller may designate a member of his staff or contract with an actuary
				to serve as the program actuary.
(b) The program actuary shall calculate:
(1) the estimated annual cost and the
				components thereof of all proposed defined benefit plan service award programs,
				including defined benefit plan programs which are converted from defined
				contribution plan service award programs, and amendments to existing defined
				benefit plan programs;
(2) the
				estimated costs to terminate a defined benefit plan service award
				program;
(3) for each calendar year
				during which a defined benefit plan service award program is in effect, the
				actual cost of the program, including all components of such actual
				cost;
(4) the amount of all actual
				distributions of service awards, including all amounts payable under
				actuarially equivalent forms of payment of service awards; and
(5) any other amounts, costs or actuarial
				present values related to a defined benefit plan service award program
				requested by the Comptroller, the program trustee or required by statute, rule
				or regulation or by generally accepted actuarial or accounting practices
				applicable to volunteer ambulance workers' defined benefit plan service award
				programs.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.18 - Program trustee

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				The Comptroller may designate himself or herself as program trustee or the
				Comptroller may contract with a financial organization or administrative
				service agency to serve as program trustee.
(b) The program trustee shall:
(1) hold the assets of the programs in
				trust;
(2) receive and process
				contributions to the trust in a timely manner;
(3) invest the assets of the
				trusts;
(4) determine the fair
				market value of the trust estate as of each valuation date as defined in the
				program agreement, commencing with December 31, 2000;
(5) make payments approved by the
				administrator to program participants and their beneficiaries, and other
				approved disbursements from the trust fund;
(6) provide the administrator and program
				actuary with such information as may be necessary to enable the administrator
				and program actuary to prepare the annual reports for sponsors and annual
				participant statements provided for in these rules and regulations and program
				agreement, including the reports and statements required for calendar year
				2000;
(7) provide the administrator
				and program actuary with such information as may be necessary to enable the
				administrator and program actuary to withhold all appropriate taxes and prepare
				and file all tax reporting forms required by Federal, State and local law;
				and
(8) cooperate with the
				administrator, program actuary and the Comptroller to ensure the effective and
				efficient operation of the programs. In furtherance of this purpose, the
				program trustee shall provide in a timely manner such information as the
				administrator and program actuary may require to exercise and perform its
				powers and duties under the General Municipal Law, these rules and regulations
				and the program agreement. The program trustee shall also provide in a timely
				manner such information as the Comptroller may require to monitor the operation
				of the programs.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.19 - Program document

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				The administrator shall provide the chief executive officer of each sponsor
				with a copy of the defined benefit plan service award program document. Such
				program document shall consist of a copy of the program agreement, the trust
				agreement, and adoption agreement, as amended.
(b) The administrator shall prepare, maintain
				and may amend the program agreement. The program agreement shall set forth the
				rights and obligations of sponsors, volunteer ambulance workers, participants
				and beneficiaries of participants, and procedures for the administration of
				programs. The program agreement and any amendments thereto shall be consistent
				with the provisions of article 1l-AAA of the General Municipal Law and the
				provisions of these rules and regulations, as amended. If the program agreement
				is prepared by an administrative service agency or a financial organization,
				the program agreement and any amendments thereto shall not take effect until
				approved by the Comptroller.
(c)
				The Comptroller shall prepare and/or amend the trust agreement pursuant to
				subdivision 4 of section 219-p  of the General Municipal Law. The
				Comptroller may, however, direct the program trustee to prepare and/or amend
				the trust agreement subject to review and approval by the Comptroller. The
				Comptroller shall provide to the administrator a copy of the trust agreement
				and any amendments thereto.
(d) The
				adoption agreement shall be prepared by the administrator and the sponsor as
				provided in section
				152.5  of this
				Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.20 - Reports

Current through Register Vol. 46, No. 28, July 10, 2024
(a) On or before
				September 30th of each year, the administrator shall provide to each sponsor a
				report which shall include, but not be limited to, the following information
				for the sponsor for the preceding calendar year:
(1) the total value of program assets as of
				January 1st;
(2) the total amount
				contributed to the program by the sponsor;
(3) the total amount of trustee expenses
				charged against program assets;
(4)
				the total amount of administrative expenses charged against program
				assets;
(5) the total amount of
				interest and investment earnings credited to program assets;
(6) the total amount of investment losses
				charged to program assets;
(7) the
				total amount of distributions;
(8)
				the total value of program assets as of December 31st;
(9) the actuarially determined normal cost
				and prior service cost for the preceding calendar which is payable by the
				sponsor in the current calendar year;
(10) the administration costs payable in the
				current calendar year;
(11) the
				names of persons paid service awards during the preceding calendar year as well
				as the amount paid to each person during such year;
(12) the names and earned service credit of
				all persons who were participants in the program, including those in pay status
				or pending pay status, as of December 31st of such preceding calendar year
				along with a statement setting forth of each person's status in the program as
				of such date;
(13) the names of the
				active volunteer ambulance workers who were not participants as of December
				31st of such preceding calendar year; and
(14) the projected annual program costs for
				each year within the five calendar year period next following the current
				calendar year.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.21 - Disclosure

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Not later than
				six months after a volunteer ambulance worker becomes a participant in a
				service award program, the administrator shall provide to the ambulance company
				of which the participant is a member, and promptly thereafter the ambulance
				company shall provide to the participant, a summary of the program's provisions
				as adopted by the sponsor of the program.
(b) In the event that a service award program
				is amended, the administrator shall provide to each ambulance company a copy of
				the amendment and a written non-technical explanation of such amendment within
				six months after the date on which the amendment takes effect and promptly
				thereafter each ambulance company shall provide a copy of the amendment and
				explanation to each participant who is a volunteer ambulance worker of the
				ambulance company.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.22 - Standards for selecting service providers

Current through Register Vol. 46, No. 28, July 10, 2024
(a) When selecting an administrative service
				agency or financial organization to serve as administrator, the following
				standards shall be utilized:
(1) the entity's
				experience with defined benefit plans and/or service award programs;
(2) the entity's ability to perform the
				required duties; and
(3) the cost
				of services to be provided by the entity.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.23 - Acknowledgment

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each actuary,
				administrative service agency or financial organization selected to provide
				services in connection with service award programs shall contractually agree to
				discharge its duties as a fiduciary to service award programs. In addition,
				when a financial organization is selected to perform duties in connection with
				investment matters, it shall contractually agree to discharge its duties as a
				fiduciary in accordance with the prudent expert standard of care.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.24 - Solicitation, education and confidentiality

Current through Register Vol. 46, No. 28, July 10, 2024
(a) No financial organization, administrative
				service agency or actuary, nor any of their agents, shall solicit a volunteer
				ambulance worker to purchase any products made available by such financial
				organization, administrative service agency or actuary other than in connection
				with the program, nor use information obtained by reason of its appointment as
				a financial organization, administrative service agency, or actuary to solicit
				volunteer ambulance workers with respect to such other products.
(b) Educational materials designed to
				acquaint volunteer ambulance workers with the benefits of the program may be
				provided by the financial organization, administrative service agency, or
				actuary upon prior approval by the Office of the State Comptroller. In
				addition, at the time of distribution of a service award, an administrative
				service agency, financial organization, or actuary may include with the
				distribution written information concerning the potential tax consequences of
				the distribution and generic categories of investment options. Such information
				may contain a statement indicating that additional information may be obtained
				from the administrative service agency, financial organization, or actuary or
				their agents and from other financial institutions, but in all cases such
				information shall also contain a clear and prominent statement that the Office
				of the State Comptroller does not review, approve, endorse or recommend, and is
				not in any way involved with, any financial instrument, product or service
				offered by or acquired through, an administrative service agency, financial
				organization, or actuary or their agents, or any other financial
				institution.
(c) Except as
				otherwise provided by law, all information obtained under the program by the
				sponsor, an ambulance company, an administrative service agency, financial
				organization, or actuary shall be confidential and shall be used exclusively
				for purposes relating to the program.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.25 - Auditing

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The program
				records held by the administrator and the program trustee shall be audited by
				an independent certified public accounting firm selected and retained by the
				Comptroller of recognized standing in the industry. The frequency of the audits
				shall be at the discretion of the Comptroller; provided however, the
				Comptroller shall have an audit performed at least once in every five
				consecutive calendar year period beginning with the five year period commencing
				in calendar year 2000. Financial statements shall include the status of
				investments, a valuation of each investment and a valuation of investment
				holdings in the aggregate. The audit shall be performed in accordance with
				generally accepted auditing standards and financial statements shall be
				prepared in accordance with generally accepted accounting principles.
				Marketable securities shall be valued at market value.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 152 - Defined Benefit Service Award Programs For Volunteer Ambulance Workers › Section 152.26 - Optional forms of payment of service awards

Current through Register Vol. 46, No. 28, July 10, 2024
(a) There shall be two forms available for
				payment of service awards commencing on or after attainment of the entitlement
				age:
(1) a monthly payment straight life
				annuity (standard form);
(2) a five
				or ten year continuous and certain monthly payment life annuity which is
				actuarially equivalent to the monthly payment straight life annuity (standard
				form).
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 153 - Required Training For Commissioners Of Fire Districts › Section 153.1 - Scope

Current through Register Vol. 46, No. 28, July 10, 2024
Chapter 242 of the Laws of 2006, effective on January 22,
				  2007, added a new section
				  176-e to the Town Law that requires each
				  commissioner of a fire district to attend and successfully complete a
				  State-approved training course within 270 days of taking office. Section 176-e
				  requires the training course to contain training relating to such fire
				  commissioners' legal, fiduciary, financial, procurement and ethical
				  responsibilities, and such other disciplines as may be prescribed by the State
				  Comptroller. That section also requires the training course to be prescribed
				  and certified in rules promulgated by the State Comptroller, and requires such
				  rules to establish the manner, frequency, and duration of the training course.
				  Chapter 242 provides that the State Comptroller may promulgate any rules and
				  regulations necessary to implement the new law prior to its effective date on
				  January 22, 2007. Those rules are set forth in this Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 153 - Required Training For Commissioners Of Fire Districts › Section 153.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
As used in this Part:
(a) Approved training course means:
(1) a training course consisting of the six
				course modules described in section
				153.4(a)-(f) 
				of the Part that has been certified as an approved training course pursuant to
				section
				153.8 
				of this Part, and for which such certification has not expired or been revoked;
				or
(2) a training course offered by
				the State Comptroller that complies with the provisions of sections
				153.4
				through
				153.6 
				of the Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 153 - Required Training For Commissioners Of Fire Districts › Section 153.3 - Training requirement

Current through Register Vol. 46, No. 28, July 10, 2024
Every fire commissioner who is elected, reelected, appointed
				  or reappointed shall attend and successfully complete an approved training
				  course within 270 days of taking office on or after January 22, 2007. A fire
				  commissioner may satisfy this requirement by attending and successfully
				  completing course modules offered by different persons or organizations. A fire
				  commissioner receiving documentation evidencing attendance and successful
				  completion of an approved training course or course module shall retain it
				  until the expiration of his or her term of office during which the
				  documentation was issued, or until he or she vacates the office of fire
				  commissioner prior to the expiration of that term, whichever is
				  sooner.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 153 - Required Training For Commissioners Of Fire Districts › Section 153.4 - Content of approved training course

Current through Register Vol. 46, No. 28, July 10, 2024
An approved training course shall consist of instruction in
				  the following six course modules:
(a)
				Fire district management, including:
(1) the
				roles and responsibilities of fire district officers, including the board of
				fire commissioners;
(2) the
				relationship between a fire district and the fire district fire department,
				including the powers and duties of the chief of the fire district fire
				department;
(3) the election,
				appointment and employment of fire district officers and employees;
(4) public notice requirements for, and the
				conduct of, fire district elections and hearings, permissive referenda, and
				meetings of the board of fire commissioners; and
(5) public access to fire district
				records.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 153 - Required Training For Commissioners Of Fire Districts › Section 153.6 - Duration of approved training course and course modules

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Except in the case of self-paced on-line
				training, the duration of an approved training course shall be at least six
				hours, with at least one hour of instruction in each course module.
(b) In the case of self-paced on-line
				training, an approved training course or course module shall be designed to
				enable verification that the training course or course module is
				completed.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 153 - Required Training For Commissioners Of Fire Districts › Section 153.7 - Frequency of approved training course and course modules

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each person or organization that has
				received certification of an approved training course pursuant to section
				153.8 
				of this Part, which certification has not expired or been revoked, shall offer
				each course module at least once a year.
(b) Except in the case of self-paced on-line
				training, within 30 days of receiving such certification and, thereafter,
				annually, on or before the 15th day of January, every such person or
				organization shall establish a schedule specifying the date, time and location
				that each course module will be offered. Such person or organization shall take
				timely and reasonable steps to announce such schedule to the fire commissioners
				serving fire districts in the vicinity of the location that the course modules
				will be offered.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 153 - Required Training For Commissioners Of Fire Districts › Section 153.8 - Certification as an approved training course

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Any person or organization may develop a
				training course which complies with the provisions of sections
				153.4
				through
				153.6 
				of this Part and apply to the State Comptroller for certification of the course
				as an approved training course.
(b)
				Application for certification as an approved training course shall be made on a
				form prescribed by the State Comptroller. The application shall:
(1) identify the applicant, including the
				applicant's address and contact information;
(2) describe how the applicant intends to
				comply with the provisions of section
				153.4
				and
				153.6 
				of the Part by including a detailed outline of each course module which
				specifies the amount of time to be devoted to each subject and topic included
				within the module;
(3) describe how
				the applicant intends to comply with the provisions of sections
				153.5
				and
				153.7 
				of this Part; and
(4) list each
				city or town in which the applicant expects to offer the training course if the
				training course is to be offered at one or more specific locations or
				facilities.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.1 - Scope

Current through Register Vol. 46, No. 28, July 10, 2024
Article 11-A of the General Municipal Law authorizes the
				  establishment of defined contribution service award programs to provide
				  municipally-funded, pension-like benefits for volunteer firefighters. In
				  general, defined contribution volunteer firefighter service award programs may
				  be adopted by political subdivisions for the volunteer firefighters of
				  volunteer fire companies or volunteer fire departments which are either:
(a) under the control of the
				governing board of the political subdivision; or
(b) located in a fire protection district of
				the political subdivision and under contract with the governing board to
				provide service therein. Adoption of a defined contribution volunteer
				firefighter service award program requires the affirmative vote of at least 60
				percent of the governing board of the political subdivision and the approval of
				a proposition at a referendum of the eligible voters of the political
				subdivision. Article 11-A requires defined contribution volunteer firefighter
				service award programs to be either:
(1)
				administered by the political subdivision; or
(2) centrally administered by the State
				Comptroller or by service providers retained by the Comptroller. The
				Comptroller is required and authorized to adopt rules and regulations for
				defined contribution volunteer firefighter service award programs administered
				by the State. The rules and regulations must include standards for the
				selection of service providers, the method and timing of payments required to
				be made by the sponsors, reporting requirements, matters relating to the
				preparation of a plan document, application procedures for transfer into the
				State-administered program, procedures and forms for the compilation and
				maintenance of the points accumulated by each volunteer firefighter, and any
				other matter relating to State- administered defined contribution volunteer
				firefighter service award programs. This Part contains the regulations
				governing such State-administered defined contribution volunteer firefighter
				service award programs.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Unless
				otherwise defined, the terms used in this Part shall have the same meaning as
				provided in article 11-A of the General Municipal Law.
(b) In addition, as used in this Part:
(1) Account means the bookkeeping account
				established for a participant by the administrator.
(2) Account balance means, as of any given
				time, the value of all contributions credited to a participant's account, plus
				all interest, earnings and gains thereon, and minus all losses, distributions,
				forfeitures and necessary administrative costs charged thereto.
(3) Administrator means the State Comptroller
				or, if the Comptroller retains an administrative service agency or financial
				organization to perform the functions set forth in section
				154.10  of this
				Part, such administrative service agency or financial organization.
(4) Comptroller means the New York State
				Comptroller.
(5) Participant means
				a volunteer firefighter who is eligible for a benefit under a State-
				administered defined contribution volunteer firefighter service award
				program.
(6) Prior service
				contribution means a contribution to a defined contribution volunteer
				firefighter service award program made by the sponsor of the program on behalf
				of a participant for volunteer firefighter service rendered by the participant
				during anyone of the five calendar years immediately preceding the adoption of
				the program. A volunteer firefighter service award program established by a
				local sponsor prior to June 1, 2007 may, at the option of the local sponsor,
				provide for prior service contributions for volunteer firefighter service
				rendered during a period longer than the five calendar years immediately
				preceding the adoption of the program.
(7) Sponsor means a county, city, town, town
				on behalf of a fire protection district, village, village on behalf of a fire
				service area, or fire district which adopts a State-administered defined
				contribution volunteer firefighter service award program.
(8) State-administered defined contribution
				volunteer firefighter service award program means a service award program for
				volunteer firefighters established or maintained as a defined contribution plan
				for which State administration has been selected pursuant to article 11-A of
				the General Municipal Law.
(9)
				Valuation date means the last day of each calendar quarter, and each other day
				as may be determined by the administrator, as of which the administrator shall
				determine the value of participants' account balances.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.5 - Collection of personal information

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Except as provided in subdivision (b) of
				this section, annually, at such time and in such form as the administrator may
				require, the chief executive officer of the sponsor shall obtain from each
				volunteer fire company or volunteer fire department for which the
				State-administered defined contribution volunteer firefighter service award
				program is established for submission to the administrator, and each volunteer
				fire company or volunteer fire department shall provide to the chief executive
				officer for such purpose, the following information for each volunteer
				firefighter of the volunteer fire company or volunteer fire department, whether
				or not such volunteer firefighter is a participant in the State-administered
				defined contribution volunteer firefighter service award program:
(1) name;
(2) address;
(3) social security number;
(4) date of birth;
(5) name of the volunteer fire company or
				volunteer fire department;
(6)
				beneficiaries; and
(7) such other
				information as the administrator determines necessary for the administration of
				the State-administered defined contribution volunteer firefighter service award
				program.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.9 - Notice of amendment or termination

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Once a State-administered defined
				contribution volunteer firefighter service award program has been adopted, the
				sponsor may amend or terminate its participation in the State- administered
				defined contribution volunteer firefighter service award program in the manner
				provided by article 11-A of the General Municipal Law.
(b) Within 30 days after the amendment of any
				of the terms of a State-administered defined contribution volunteer firefighter
				service award program set forth in the adoption or transfer agreement, or the
				termination of the sponsor's participation in a State-administered defined
				contribution volunteer firefighter service award program, the chief executive
				officer of the sponsor shall file with the administrator a verified notice of
				amendment or notice of termination which shall contain the following:
(1) a statement of the date on which the
				governing board of the sponsor approved the resolution authorizing the
				amendment or termination of participation in the State-administered program and
				the vote thereon, and a certified copy of the resolution;
(2) in the case of termination, or in the
				case of an amendment requiring submission of a proposition to the eligible
				voters of the sponsor, a statement of the date on which the eligible voters
				approved the proposition authorizing the amendment or termination and the vote
				thereon, and a certified copy of the proposition; and
(3) an opinion of legal counsel which shall:
(i) be addressed to the sponsor;
(ii) expressly provide that the administrator
				may rely thereon;
(iii) state that
				in his or her capacity as legal counsel to the sponsor, he or she has examined
				originals or true and complete copies of those records, documents and other
				instruments necessary to render his or her opinion, including, but not limited
				to, the provisions of article 11-A of the General Municipal Law and such other
				laws as may be relevant, the resolution of the governing board of the sponsor
				authorizing the amendment or termination of the program, proof of any posting
				and publication to give required notice and the certificate certifying the
				result of the vote on the proposition authorizing the amendment or termination
				of the State-administered defined contribution volunteer firefighter service
				award program; and
(iv) express his
				or her opinion that the sponsor has undertaken all actions and proceedings
				required by law to amend or terminate the State-administered defined
				contribution volunteer firefighter service award program.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.10 - Administration

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				State-administered defined contribution volunteer firefighter service award
				programs shall be administered by the State Comptroller unless the Comptroller
				retains an administrative service agency or financial organization to
				administer the programs. Upon receipt of a notice of adoption or transfer of a
				defined contribution volunteer firefighter service award program the Office of
				the State Comptroller shall notify the chief executive officer of the sponsor
				of the name, address and telephone number of the administrator and, if the
				administrator is not the State Comptroller, forward one copy of the notice of
				adoption or transfer to the administrator. In the event that there is a change
				in the identity of the administrator, the Office of the State Comptroller shall
				notify the chief executive officer of each sponsor of a State-administered
				defined contribution volunteer firefighter service award program of the
				identity of the new administrator.
(b) The administrator shall:
(1) prepare a standard form of program
				document which shall be utilized by all program sponsors;
(2) prepare all forms necessary for the
				administration of the program;
(3)
				compile and maintain all records required for the administration of the
				program, including records of participant account balances;
(4) prepare and distribute to participants,
				volunteer fire companies or volunteer fire departments and sponsors reports and
				program summaries as required by this Part;
(5) if the Comptroller is not the
				administrator, prepare and furnish to the Comptroller such reports as the
				Comptroller may require;
(6) record
				and process contributions made by program sponsors;
(7) approve applications for distributions of
				service awards;
(8) record and
				process distributions of service awards;
(9) withhold all taxes and prepare all tax
				reporting forms required by Federal, State and local law; and
(10) perform such other functions as may be
				required by or pursuant to article 11-A of the General Municipal Law and this
				Part.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.11 - Program document

Current through Register Vol. 46, No. 28, July 10, 2024
The administrator shall prepare and may amend a single
				  State-administered defined contribution volunteer service award program
				  document setting forth the obligations of sponsors, the rights of volunteer
				  firefighters and participants, and standards and procedures for the
				  administration of State-administered defined contribution volunteer firefighter
				  service award programs. The program document and any amendments thereto shall
				  be consistent with the provisions of article 11-A of the General Municipal Law
				  and the provisions of this Part, as amended. If the program document is
				  prepared by an administrative service agency or financial organization, the
				  program document and any amendments to the program document shall not take
				  effect until approved by the State Comptroller.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.12 - Reports

Current through Register Vol. 46, No. 28, July 10, 2024
(a) On or before
				September 30th of each year, the administrator shall provide to each sponsor a
				report which shall include, but not be limited to, the following information
				for the preceding calendar year for the sponsor:
(1) the total value of participant account
				balances as of January 1st;
(2) the
				total amount contributed to the State-administered defined contribution
				volunteer firefighter service award program by the sponsor;
(3) the total amount of administrative
				expenses charged against participant account balances;
(4) the total amount of interest, earnings
				and gains credited to participant account balances;
(5) the total amount of losses charged to
				participant account balances;
(6)
				the total amount of distributions;
(7) the total value of forfeitures;
				and
(8) the total value of
				participant account balances as of December 31st.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.13 - Disclosure

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Not later than
				six months after a volunteer firefighter becomes a participant in a State-
				administered defined contribution volunteer firefighter service award program,
				the administrator shall provide to the volunteer fire company or volunteer fire
				department of which the participant is a member, and promptly thereafter the
				volunteer fire company or volunteer fire department shall provide to the
				participant, a summary of the State-administered defined contribution volunteer
				firefighter service award program's provisions as adopted by the sponsor of the
				State- administered defined contribution volunteer firefighter service award
				program.
(b) In the event that a
				material modification is made to a State-administered defined contribution
				volunteer firefighter service award program, the administrator shall provide to
				each volunteer fire company or volunteer fire department a copy of the
				modification within six months after the date on which the modification is
				adopted or the date on which the modification takes effect, whichever is later,
				and promptly thereafter each volunteer fire company or volunteer fire
				department shall provide a copy of the modification to each participant who is
				a member of the volunteer fire company or volunteer fire department.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.14 - Standards for selecting service providers

Current through Register Vol. 46, No. 28, July 10, 2024
Service providers shall be selected after competitive
				  proposals are solicited.
(a) When
				selecting an administrative service agency or a financial organization to serve
				as administrator, the following standards shall be utilized, with each standard
				to be weighted at the discretion of the Comptroller:
(1) the entity's experience with defined
				contribution programs;
(2) the
				capitalization of the entity;
(3)
				the entity's creditworthiness;
(4)
				the entity's ability to perform the required duties; and
(5) the cost of services to be provided by
				the entity.
New York Codes, Rules and Regulations › Title 2 - DEPARTMENT OF AUDIT AND CONTROL › Chapter IV - Miscellaneous Rules › Part 154 - State-administered Defined Contribution Service Award Programs For Volunteer Firefighters › Section 154.15 - Acknowledgement

Current through Register Vol. 46, No. 28, July 10, 2024
Each administrative service agency or financial organization
				  selected to provide services in connection with State-administered volunteer
				  firefighter defined contribution service award programs shall contractually
				  agree to discharge its duties as a fiduciary solely in the interest of the
				  participants and beneficiaries of the State-administered defined contribution
				  volunteer firefighter service award programs. The fiduciary standard of care,
				  which shall be an express provision of any contract with an administrative
				  service agency or financial organization, shall permit the fiduciary to accept,
				  hold, invest in and retain only such investments as would be made with the
				  care, skill, prudence and diligence under the circumstances then prevailing
				  that a prudent person acting in a like capacity and familiar with such matters
				  would use in the conduct of an enterprise of a like character and with like
				  aims.