N.Y. Comp. Codes R. & Regs. tit. 2 § 154.3

Current through Register Vol. 46, No. 50, December 11, 2024

Section 154.3 - Notice of adoption or transfer

(a) Cost estimates. Prior to consideration of a resolution authorizing adoption of a State-administered defined contribution volunteer firefighter service award program, or the transfer of a locally-administered defined contribution volunteer firefighter service award program to State administration, the governing board of a political subdivision shall obtain from the administrator an estimate of the annual cost of the State-administered defined contribution volunteer firefighter service award program. In making such estimate, the administrator shall calculate each separate component of the total estimated cost of a proposed State-administered defined contribution volunteer firefighter service award program. In the case of a transfer of a locally-administered defined contribution volunteer firefighter service award program to State administration, the administrator shall also estimate the additional amount, if any, determined to be necessary to fully fund all existing obligations of such program, up to and including contributions for credit for a year of firefighting service performed during the calendar year immediately preceding the year in which State administration is anticipated to commence and unfunded prior service costs. To enable the administrator to make such estimates, the sponsor and each volunteer fire company or volunteer fire department having members who are potential participants in the State-administered defined contribution volunteer firefighter service award program shall provide to the administrator such information as the administrator may require, and the administrator may rely upon such information in making such estimates. The administrator shall make such estimates using the methodology and assumptions that would be used to calculate the contributions payable by the sponsor pursuant to section 154.6 of this Part. Before beginning to make such estimates, the administrator shall disclose to the governing board in writing the fee for preparing such estimates. The fee for preparing the estimates shall not exceed the amount which the administrator is permitted to charge for such service pursuant to an agreement between the administrator and the Comptroller. The cost of such estimates shall be a charge against the sponsor.

(b) For any defined contribution volunteer firefighter service award program which, on or after June 1, 2007, is to be State-administered pursuant to voter approval of either:

(1) the adoption of such a program; or

(2) the transfer of administration of such a program to the State of New York, the chief executive officer of the sponsor shall, within 30 days after the approval of a proposition authorizing the adoption or transfer, submit to the State Comptroller by e-mail or other method prescribed by the Office of the State Comptroller, a verified notice of adoption or transfer which shall contain the following:

(i) a statement of the date on which the governing board of the sponsor approved the resolution authorizing adoption of the State-administered defined contribution volunteer firefighter service award program or transfer to the state of the administration of a defined contribution volunteer firefighter service award program and the vote thereon, and a certified copy of the resolution;

(ii) a statement of the date on which the eligible voters of the sponsor approved the proposition authorizing adoption of the State-administered defined contribution volunteer firefighter service award program or transfer to the state of the administration of a defined contribution volunteer firefighter service award program and the vote thereon, and a certified copy of the proposition;

(iii) an opinion of legal counsel which shall:

(a) be addressed to the sponsor;

(b) expressly provide that the administrator may rely thereon;

(c) 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 adoption of the State-administered defined contribution service award program or the transfer to the state of the administration of a defined contribution volunteer firefighter service award program; proof of any posting and publication of required notice; the certificate certifying the result of the vote on the proposition authorizing the adoption of the State-administered defined contribution volunteer firefighter service award program or the transfer to the state of the administration of a defined contribution volunteer firefighter service award program; and proof that the cost estimates prepared pursuant to subdivision (a) of this section were disclosed in the proposition; and

(d) express his or her opinion that the sponsor has undertaken all actions and proceedings required by law to adopt the State-administered defined contribution volunteer firefighter service award program or the transfer to the State of the administration of a defined contribution volunteer firefighter service award program;

(iv) a statement of the name, address and telephone number of the chief executive officer of the sponsor; and

(v) a statement of the name, address and telephone number of each volunteer fire company or volunteer fire department having volunteer firefighters who are potential participants in a newly established State-administered defined contribution volunteer firefighter service award program or participants in an existing defined contribution volunteer firefighter service award program being transferred to State administration.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 154.3