219-k. 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 benefit plan" means any service award program that provides to a participant a benefit that is definitely determinable under the program without reference to the amount contributed to the program on the participant's behalf or to any income, expense, gains or losses or forfeitures of other participants under the program.
3. "Entitlement age" means the age designated by the sponsor at which a program participant is entitled to begin receiving an unreduced service award. In no event shall the entitlement age under a program be earlier than age fifty-five nor later than the age at which the participant can receive an unreduced benefit under Title II of the Social Security Act (Public Law 74-271 U.S.C. 306 et seq.). No service award program may provide for the payment of benefits (except in the case of death or disability) before age fifty-five.
4. "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.
5. "Fund" means the volunteer ambulance defined benefit service award fund created pursuant to this article.
6. "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.
7. "Nonforfeitable" means the unconditional and legally enforceable right to receive a service award.
8. "Participant" means a volunteer ambulance worker who satisfies the age and service requirements of subdivision one of section two hundred nineteen-m of this article.
9. "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.
10. "Service award" means the benefit payable pursuant to a service award program.
11. "Service award program" or "program" means a defined benefit plan established, adopted and maintained under this article to provide service awards for volunteer ambulance workers.
12. "Sponsor" or "sponsoring organization" means a political subdivision which adopts a service award program.
13. "Voluntary ambulance service" means an ambulance service as defined in subdivision two of section three thousand one of the public health law (a) operating not for pecuniary profit or financial gain, and (b) 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.
14. "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.
15. "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-m of this article.
16. "Elected or appointed position" means the directors, president, vice president, treasurer, secretary, other corporate officers and line officers of an ambulance company.
17. "Administrator" or "plan administrator" means the state comptroller, or an administrative service agency or financial organization selected by the state comptroller to administer service award programs.
18. "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.
19. "Financial organization" means an organization duly authorized to do business in the state which is (a) registered as an investment adviser under the Investment Advisers Act of 1940, as such provisions may be amended from time to time; (b) licensed or chartered by the state department of financial services; (c) chartered by an agency of the federal government; or (d) subject to the jurisdiction and regulation of the securities and exchange commission of the federal government.
Last modified: February 3, 2019