Section 215. Definitions

As used in this article:
    1. "Active volunteer firefighter" means a person who has been approved
  by the authorities in control of a duly organized volunteer fire company
  or  volunteer fire department as an active volunteer firefighter of such
  fire company or department and who is faithfully and actually performing
  service in the protection of  life  and  property  from  fire  or  other
  emergency, accident or calamity in connection with which the services of
  such fire company or fire department are required.
    2.  "Defined  benefit  plan"  means  any  service  award  program that
  provides  to  eligible  volunteer  firefighters,  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,  expenses,  gains or losses or forfeitures of other participants
  under the program.
    3. "Defined contribution plan" means any service  award  program  that
  provides  to  eligible volunteer firefighters a benefit as the result of
  definite and determinable contributions under the program,  and  without
  reference  to  any  income,  expense,  gains or losses or forfeitures of
  other participants under the program.
    4. "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.
    5.  "Fiduciary" means any person who exercises discretionary authority
  or control with respect to the administration  of  the  program  or  the
  management  or  disposition  of program assets or who renders investment
  advice for a fee to the program.
    5-a. "Fire service area" means a portion of a  village  that  receives
  fire  protection  from  a special fire department pursuant to a contract
  with the governing board of the village when the cost of the contract is
  charged to such area of the village.
    6. "Nonforfeitable" means the unconditional  and  legally  enforceable
  right to receive benefits attributable to service as an active volunteer
  firefighter  under  the  program  that will begin at the entitlement age
  specified in the program.
    7. "Participant" means an active volunteer firefighter who is eligible
  for a benefit under a service award program.
    7-a. "Political subdivision" means  a  county,  city,  town,  town  on
  behalf of a fire protection district, village, village on behalf of fire
  service area or fire district.
    8.  "Service  award"  means  the benefit payable to a participant in a
  service award program.
    9. "Service award program" or "program" means a defined  benefit  plan
  or  defined  contribution  plan  established  or  maintained  under this
  article to provide service awards  for  active  volunteer  firefighters,
  pursuant   to   the   benefit   options   specified  by  the  sponsoring
  organization.
    9-a. "Special fire company or department"  means  a  fire  company  or
  department  for  which  a  service  award  program cannot be established
  pursuant to subdivision one or two of section  two  hundred  sixteen  of
  this  article  which  provides  fire  protection services to two or more
  political  subdivisions  under  contracts  with  the  governing   boards
  thereof.

    10.   "Sponsor"   or   "sponsoring  organization"  means  a  political
  subdivision which has established or jointly established a service award
  program, a volunteer fire company or department,  or  any  other  entity
  responsible for fire protection.
    11.  "Year of firefighting service" means a twelve month period during
  which an active volunteer firefighter participates in the  fire  service
  and  satisfies  the minimum requirements of participation established by
  the sponsoring organization  maintaining  the  program  which  shall  be
  applied  on  a  consistent  and  uniform  basis,  subject to the minimum
  standards established by the sponsoring organization.
    12. "Elected or appointed position" means line officers, department or
  company officers and president, vice president, treasurer and  secretary
  of a fire company or department.
    13.   "Administrator"   or   "plan   administrator"  means  the  state
  comptroller,  or  an  administrative   service   agency   or   financial
  organization  selected  by  the  state  comptroller  to perform all or a
  portion of the functions required to administer service award programs.
    14.  "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.
    15. "Financial organization" means an organization duly authorized  to
  do  business  in  the state and which is (i) registered as an investment
  adviser under the Investment Advisers Act of 1940,  as  such  provisions
  may  be  amended  from  time  to time; (ii) licensed or chartered by the
  state insurance department; (iii) licensed or  chartered  by  the  state
  banking   department;  (iv)  chartered  by  an  agency  of  the  federal
  government; or (v) subject to the jurisdiction  and  regulation  of  the
  securities and exchange commission of the federal government.