NY Ret & SS L § 606 (2021)
2021 New York Laws RSS - Retirement and Social Security Article 15 - Coordinated Retirement Plan 606 - Death Benefits.

§  606.  Death  benefits.  a.  A  member of a retirement system who is subject to the provisions of this article, exclusive  of  those  members for  whom  provision  is made pursuant to subdivision b of this section, shall, at the time of first becoming a member thereof, make an election, which shall be irrevocable, for coverage for financial protection in the event of death in service, between the two following benefits:   1. A benefit upon the death of  a  member  in  service  equal  to  one month's  salary  for  each full year of service up to a maximum of three years' salary upon the completion of thirty-six full years  of  service, or  in  the  event  that  a member is eligible to retire without benefit reduction pursuant to section six  hundred  three  of  this  article,  a benefit  equal  to  the  pension  reserve, if any, which would have been payable to such member had he entered prior to  the  effective  date  of this article and died in service; or   2.  A  benefit  upon  the  death  of  a member in service equal to the member's salary upon his or her completion of one year of  service,  two years'  salary upon completion of two years of service, and three years' salary upon completion of three years of  service.  In  the  case  of  a member  of  a  retirement system other than the New York state teachers' retirement system, the New York city employees' retirement  system,  the New  York  city  board of education retirement system, the New York city teachers' retirement system or the New York state and  local  employees' retirement  system,  such  benefit  shall  be  subject  to the following limitations:  (a)  If  the  member  last  joined  the  retirement  system  prior  to attainment  of  age fifty-two, the maximum benefit shall be three years' salary;  (b) If the member was age fifty-two when he or  she  last  joined  the retirement  system,  the maximum benefit shall be two and one-half times annual salary;  (c) If the member was age fifty-three when he or she last  joined  the retirement system, the maximum benefit shall be two years' salary;  (d)  If  the  member was age fifty-four when he or she last joined the retirement system, the maximum benefit shall be one and  one-half  times annual salary;  (e) If the member was age fifty-five or older but under age sixty-five when  he  or  she last joined the retirement system, the maximum benefit shall be one year's salary; and  (f) If the member was age sixty-five or older  when  he  or  she  last joined  the retirement system, the maximum benefit shall be one thousand dollars.   In the case of a member of a retirement system other than the New York state  teachers'  retirement  system,  the  New  York  city   employees' retirement  system,  the  New  York  city  board of education retirement system, the New York city teachers' retirement system or  the  New  York state and local employees' retirement system, commencing upon attainment of  age  sixty-one,  the  benefit  otherwise  provided  pursuant to this paragraph shall be reduced while the member is in service to ninety  per centum  of  the  benefit  otherwise payable and each year thereafter the benefit payable shall be reduced by an amount equal to  ten  per  centum per  year  of  the original benefit otherwise payable, but not below ten per centum of the original benefit otherwise payable.   In the case of a member of the New  York  state  teachers'  retirement system,  commencing  upon  attainment  of  age  sixty-one,  the  benefit otherwise provided pursuant to this paragraph shall be reduced while the member is in service to ninety-six per centum of the  benefit  otherwise payable,  and  each year thereafter the benefit payable shall be reduced by an amount equal to four per centum per year of the  original  benefit  otherwise  payable,  but  not  below  sixty  per  centum of the original benefit otherwise payable. In the case of a member of the New York  city employees'  retirement  system,  the  New  York  city board of education retirement  system  or  the  New  York city teachers' retirement system, commencing upon attainment  of  age  sixty-one,  the  benefit  otherwise provided pursuant to this paragraph shall be reduced while the member is in  service  to  ninety-five per centum of the benefit otherwise payable and each year thereafter the benefit payable  shall  be  reduced  by  an amount  equal  to  five  per  centum  per  year  of the original benefit otherwise payable, but not  below  fifty  per  centum  of  the  original benefit  otherwise  payable.  In  the case of any member of the New York state and local employees' retirement system who is permitted to  retire without  regard to age, commencing upon attainment of age sixty-one, the benefit otherwise provided pursuant to this paragraph shall  be  reduced while the member is in service to ninety-seven per centum of the benefit otherwise payable, and each year thereafter the benefit payable shall be reduced  by an amount equal to three per centum per year of the original benefit otherwise payable, but not  below  seventy  per  centum  of  the original  benefit  otherwise payable. In the case of any other member of the New York state and local employees'  retirement  system,  commencing upon  attainment  of  age  sixty-one,  the  benefit  otherwise  provided pursuant to this paragraph shall be  reduced  while  the  member  is  in service  to  ninety-six per centum of the benefit otherwise payable, and each year thereafter the benefit payable shall be reduced by  an  amount equal  to  four  per  centum  per year of the original benefit otherwise payable, but  not  below  sixty  per  centum  of  the  original  benefit otherwise  payable.  Upon  retirement,  from  any retirement system, the benefit in force shall be reduced by fifty per centum;  upon  completion of  the  first  year  of retirement, the benefit in force at the time of retirement shall be reduced by an additional twenty-five per centum, and upon commencement of the third year of retirement, the benefit shall  be ten  per  centum of the benefit in force at age sixty, if any, or at the time of retirement if retirement preceded such age;  provided,  however, the  benefit  in retirement shall not be reduced below ten per centum of the benefit in force at age sixty, if any, or at the time of  retirement if  retirement preceded such age. Notwithstanding any other provision of this paragraph to the contrary, the benefit for a retiree from  the  New York state and local employees' retirement system and the New York state teachers' retirement system shall not be reduced below ten per centum of the benefit in force at the time of retirement.   3.  If  a  member  dies  in  service  without having made the election specified in this subdivision within ninety days after first becoming  a member,  or  within  the  period  prescribed by the retirement system of which he is a member if such period is less than ninety days,  he  shall be deemed to have made the election specified in paragraph two.   4.  Notwithstanding  any  provision  of  this  article,  a member of a retirement system subject to the provisions of  this  article  who  last joined  such  system  on or after January first, two thousand one who is not covered by the death benefit calculation provided in  subdivision  b of  this section shall, upon a qualifying death, be covered by the death benefit  calculation  provided  pursuant  to  paragraph  two   of   this subdivision and shall not be entitled to elect between the death benefit calculations provided in paragraphs one and two of this subdivision. Any individual  who  last  joined  such  system  before  January  first, two thousand one who  is  not  covered  by  the  death  benefit  calculation provided  in  subdivision  b  of  this  section shall be covered, upon a qualifying death, by the death benefit calculation provided by paragraph two of this subdivision unless such individual had timely elected  death  benefit coverage under the calculation provided by paragraph one of this subdivision  and, upon such death, it is determined that the benefit, as calculated under such paragraph one would be greater than as  calculated under  such  paragraph  two,  in which case the benefit calculated under such paragraph one shall be payable.   b. A member of a retirement system subject to the provisions  of  this article  who  is  a  police  officer, firefighter, correction officer or sanitation worker and is in a plan which  permits  immediate  retirement upon  completion  of a specified period of service without regard to age or who is subject to the provisions of section six hundred four of  this article,  shall upon completion of ninety days of service be covered for financial protection in the event of death in service pursuant  to  this subdivision.  Such  death  benefit  shall  be  equal  to three times the member's salary raised to the next  highest  multiple  of  one  thousand dollars,  but in no event shall it exceed three times the maximum salary specified in section one hundred thirty of the civil service law or,  in the case of a member of a retirement system other than the New York city employees' retirement system, the specific limitations specified for age of  entrance  into service contained in subparagraphs (b), (c), (d), (e) and (f) of paragraph two of subdivision a of this section.   c. For the purpose of  this  section,  salary  shall  be  the  regular compensation earned during the member's last twelve months of service in full  pay  status  as a member or, if he or she had not completed twelve months of service prior to the date of death, but  was  subject  to  the provisions  of subdivision b of this section, the compensation he or she would have earned had he or she worked for the twelve  months  prior  to such  date;  provided,  however,  for the purpose of this section salary shall exclude any form of  termination  pay  (which  shall  include  any compensation in anticipation of retirement), or any lump sum payment for deferred  compensation sick leave, or accumulated vacation credit or any other payment for time not  worked  (other  than  compensation  received while  on  sick  leave  or  authorized leave of absence) and in no event shall it exceed the maximum salary  specified  in  section  one  hundred thirty  of  the  civil service law, as added by part B of chapter ten of the laws of two thousand eight,  or  the  maximum  salary  specified  in section  one  hundred  thirty  of  the  civil  service law, as hereafter amended, whichever is greater.   d. The benefits provided pursuant to this section are in lieu  of  all other  benefits  provided  by  this  or  any  other  state  or local law exclusive of a benefit provided under the  workmen's  compensation  law, the  civil  service  law  or  group life insurance; provided, however, a beneficiary of a member eligible for  a  benefit  as  the  result  of  a service  connected  accident, may elect to receive such other benefit in lieu of the benefit provided pursuant to this section.   e. For the purposes of this section:   1. A member who dies while off the payroll shall be considered  to  be in service provided he or she (a) was on the payroll in such service and paid  within a period of twelve months prior to his or her death, or was on the payroll in the service upon which membership is based at the time he or she was ordered to active duty pursuant to Title 10 of the  United States Code, with the armed forces of the United States or to service in the  uniformed services pursuant to Chapter 43 of Title 38 of the United States Code and died while  on  such  active  duty  or  service  in  the uniformed  services  on or after June fourteenth, two thousand five, (b) had not been otherwise gainfully employed since he or she ceased  to  be on  such  payroll and (c) had credit for one or more years of continuous service since he or she last entered or reentered the service of his  or her  employer;  notwithstanding  any  other  provision  of  law  to  the  contrary, a member of the New York city employees' retirement system  or the  board  of education retirement system of the city of New York shall be deemed to have died on the payroll for the purposes of  this  section in  the  event  that  death occurs while such member is on an authorized leave of absence without pay for medical reasons which has  continuously been  in  effect  since  the member was last paid on the payroll in such service, provided, however, that such member was on the payroll in  such service  and paid within the four-year period prior to his or her death; and   2. The benefit payable shall be in addition to  any  payment  made  on account of a member's accumulated contributions.   3.  Provided,  further,  that  any  such member ordered to active duty pursuant to Title 10 of the United States Code, with the armed forces of the United States or to service in the uniformed  services  pursuant  to Chapter  43  of  Title  38  of  the United States Code who died prior to rendering the minimum amount of service necessary  to  be  eligible  for this  benefit  shall be considered to have satisfied the minimum service requirement.