Beneficiaries of eligible uniformed fire department members can elect a lump-sum death benefit.

This bill allows beneficiaries of eligible uniformed members of the New York City Fire Department to choose between a lump-sum death benefit or their current death benefit. The lump-sum amount is the pension reserve, including member contributions and interest, that would have been established if the member had retired on the date of their death. The bill also allows the death benefit and pension reserve to be paid as an annuity. This option applies to members who die on or after July 1, 2025.

Beneficiaries of eligible uniformed fire department members can elect a lump-sum death benefit.

This bill allows beneficiaries of eligible uniformed members of the New York City Fire Department to choose between a lump-sum death benefit or their current death benefit. The lump-sum amount is the pension reserve, including member contributions and interest, that would have been established if the member had retired on the date of their death. The bill also allows the death benefit and pension reserve to be paid as an annuity. This option applies to members who die on or after July 1, 2025.