[HISTORY: Adopted by the Town Board of the Town of Wheatfield
as indicated in article histories. Amendments noted where applicable.]
The purpose of this article is to create a Volunteer Firefighter
Length of Service Plan to provide retirement benefits to volunteer
firefighters in the Town of Wheatfield who meet certain minimum service
requirements.
The Town of Wheatfield shall conduct a mandatory referendum
of the eligible voters of the Town of Wheatfield to determine whether
the Town shall establish a service award plan as provided in § 216
of the General Municipal Law.
The type of service award plan shall be a Defined Contribution
Service Award Plan as described in § 218 of the General
Municipal Law.
A.
The estimated annual cost of the service award plan shall be $142,780
including a one-time payment of $41,280 for past-service-buy-back
cost for up to five years of the service award plan and an annual
plan administration fee of $1,500, based upon the existing number
of volunteer firefighters eligible to participate in the service award
plan.
B.
The estimated annual cost per participant will not be more than $700
per participant for current years and an average of $1,720 per participant
for 24 participants for past-service-buy-back costs.
C.
The average defined contribution award to be paid to eligible volunteer
firefighters will be a lump sum equal to annual amounts contributed
on behalf of the eligible volunteer firefighter plus accumulated investment
earnings with the accounts held by the Plan Administrator and as may
be authorized or required by law, payment to commence when the eligible
volunteer firefighter reached the age of 62 years, if he or she so
elects, or pursuant to law; but not sooner than one year after the
adoption of the plan. Nothing contained herein shall be construed
so as to prohibit volunteer firefighters from earning service award
credits after the firefighter reaches 62 years of age. Payment of
the award shall be in a form approved by the Plan Administrator as
authorized and/or required pursuant to law. All selected benefit payments
shall be actuarially equivalent to said lump sum.
D.
The Service Award Plan will provide for the crediting of years of
active firefighting service for periods prior to the establishment
of such plan to a maximum of five years per participant, or for firefighters
who did not receive credit because they were more than 62 years of
age but would have otherwise qualified, up to a maximum of five years
per participant.
E.
In the event an active volunteer firefighter becomes disabled and
such disability prevents the active firefighter from pursuing such
volunteer's normal occupation and if the disability is total and permanent
as certified by the Workmen's Compensation Board or other authority
approved by the district, the volunteer firefighter will be entitled
to receive the credited contribution and investment earning thereon
described in this section that are credited to his account regardless
of age or length of service.
F.
In order to qualify for a "year of fire-fighting service," the firefighter
must satisfy the minimum requirements of participation of earning
50 points in such year, such points to be awarded pursuant to § 217(c)
of the General Municipal Law.
A.
A special election upon proposition of the qualified voters of the
Town of Wheatfield, County of Niagara, and State of New York, shall
be held at the Wheatfield Senior Community Center, 2800 Church Road,
Wheatfield, New York on December 9, 2008, between the hours of 12:00
noon and 9:00 p.m.[1]
[1]
Editor's Note: The proposition was approved at referendum
12-9-2008.
B.
The vote upon the proposition to be submitted to the qualified voters
shall be by voting machine.
C.
The Town Clerk is hereby authorized and directed to give notice of
said election by causing a notice hereof to be published pursuant
to law in the officially designated newspapers of the Town at least
10 days prior to the date of the special election.
This article shall become effective upon its approval by referendum
and upon all appropriate filings.
