Benefits

§ 219-n. Benefits. 1. The benefit payable under a service award\nprogram shall be the actuarial equivalent of an annual payment for life\nin one of the following amounts as selected by the sponsor:\n (a) sixty dollars per year of ambulance service;\n (b) one hundred twenty dollars per year of ambulance service;\n (c) one hundred eighty dollars per year of ambulance service;\n (d) two hundred forty dollars per year of ambulance service; or\n (e) three hundred sixty dollars per year of ambulance service.\n 2. Service awards shall be paid in the form of a lump sum, a life\nannuity with or without survivor benefits, a period certain annuity, or\nany other form provided under the program, provided, that all forms of\npayment shall be actuarially equivalent to each other. The program may\nlimit the forms of payment or impose conditions concerning the\navailability of a form of payment.\n 3. Except as otherwise provided in this section, a participant shall\nbe entitled to apply for and receive a service award only when the\nparticipant has acquired a nonforfeitable right to a service award and\nhas reached entitlement age.\n 4. In the event that a participant becomes totally and permanently\ndisabled, as certified by the workers' compensation board or other\ncompetent authority approved by the administrator, and the disability\nprevents the participant from pursuing his or her normal occupation, the\nparticipant shall be entitled to apply for and receive a service award,\nregardless of whether the participant has reached entitlement age or has\nacquired a nonforfeitable right to a service award.\n 5. In the event of the death of a participant who has acquired a\nnonforfeitable right to a service award, the beneficiaries designated by\nthe participant or, if no beneficiaries have been so designated, the\nparticipant's estate, shall be entitled to apply for and receive a lump\nsum death benefit, regardless of whether the participant reached\nentitlement age before death. Such benefit shall be equal to the lump\nsum equivalent of the service award earned by the participant at the\ndate of death, provided that the benefit provided pursuant to this\nsubdivision shall not be paid following commencement of payment of a\nservice award.\n 6. A service award shall be paid only after an application is made to\nthe program administrator and the administrator approves the\napplication.\n 7. No service award may be assigned or alienated except to provide for\nthe legally obligated support of minor children or a spouse.\n 8. Payment of a service award shall not impair any rights of volunteer\nambulance workers under the volunteer ambulance workers' benefit law or\nany other law.\n