N.Y. General Municipal Law § 219-i: Conversion to defined benefit plan

§ 219-i. Conversion to defined benefit plan. The sponsor of a service

award program adopted pursuant to this article may convert such program

into a defined benefit plan authorized by article eleven-AAA of this

chapter by adopting a defined benefit service award program in

accordance with the procedures set forth in section two hundred

nineteen-l of this chapter. Upon conversion to a defined benefit plan, a

service award program adopted pursuant to this article which provides

contributions for years of ambulance service rendered by a participant

during the five calendar years immediately preceding the year in which

the program is adopted need not provide credit for years of ambulance

service rendered prior to the adoption of the program. Upon the

conversion of a service award program, the program shall be governed by

the provisions of article eleven-AAA of this chapter as if the program

was originally adopted pursuant to such article eleven-AAA, provided,

that (1) conversion of a service award program shall not affect the

number of years of ambulance service earned by a volunteer ambulance

worker or a participant's status as having a nonforfeitable right to a

service award or the amount of a service award paid in whole or in part

prior to the conversion, and (2) upon conversion of a service award

program adopted pursuant to this article which provides contributions

for years of ambulance service rendered by a participant during the five

calendar years immediately preceding the year in which the program is

adopted, if the converted program provides for credit for years of

ambulance service rendered by a participant during the five calendar

years immediately preceding the year in which the program is adopted, if

the converted program provides for credit for years of ambulance service

rendered during the five calendar years immediately preceding the

adoption of the program, such five year period shall be measured from

the date of adoption of the program pursuant to this article. The

comptroller may promulgate rules and regulations relating to such

conversions including, but not limited to, the disposition of assets and

the time and manner of making any additional payments required to fund

benefits attributable to years of ambulance service earned prior to the

conversion over a period not to exceed five years.