NY Ret & SS L § 386 (2021)
2021 New York Laws RSS - Retirement and Social Security Article 8 - New York State and Local Police and Fire Retirement System Title 10 - Special Retirement Plans Applicable to Specified Classes of Members 386 - Retirement of Members in the Westchester County Department of Public Safety Services; Closed Plan.

§  386.  Retirement of members in the Westchester county department of public safety services; closed plan. a. As used  in  this  section,  the following  words  and phrases shall have the following meanings unless a different meaning is plainly required by the context:   1. "County." Westchester county.   2. "Department." Prior to July first, nineteen  hundred  seventy-nine, the  Westchester  county  parkway  police force; on or after July first, nineteen hundred seventy-nine,  the  Westchester  county  department  of public safety services.   3.  "Service  in such department." Full time police duty as an officer or member of such department, or the police department or  police  force of  any  city, town, village or police district in the county, or in the division of state police in the state executive department.   b. Any member in service in such department on January first, nineteen hundred fifty-eight, who elected, on  or  before  July  first,  nineteen hundred  fifty-eight,  to  contribute  to  the New York state employees' retirement  system  pursuant  to  the  provisions  of   former   section eighty-six  of  this  chapter,  in effect prior to April first, nineteen hundred sixty-seven, shall contribute to the police and fire  retirement system on the basis of retirement upon his or her:   1. Completion of twenty-five years of service in such department, or   2.  Attainment  of  age  sixty in service in such department, if prior thereto, on all allowance of one-fiftieth of his final average  salary  for  each year  of  service in such department not in excess of twenty-five years, provided such election was in writing and duly executed and  filed  with the comptroller.   c.  On or after January first, nineteen hundred fifty-eight, but prior to  July  first,  nineteen  hundred  seventy,  employees   entering   or re-entering service in such department:   1.  As  members  of  the  police  force  shall contribute on the basis provided for by this section.   2. Other than as members of the police force shall not be eligible  to the benefits of this section.   d.  A  member,  who  elects or is required to contribute in accordance with this section, shall  contribute,  in  lieu  of  the  proportion  of compensation  as  provided  in  section three hundred twenty-one of this article, a proportion of his  compensation  similarly  determined.  Such latter  proportion  shall  be  computed  to provide, at the time when he shall first become  eligible  for  retirement  under  this  section,  an annuity  equal to one-one hundredth of his final average salary for each year of service as  a  member  rendered  on  and  after  January  first, nineteen  hundred  fifty-eight,  and  prior to the attainment of the age when he shall first become eligible for retirement. Such  member's  rate of  contribution pursuant to this section shall be appropriately reduced pursuant to section three hundred seventy-a of  this  article  for  such period  of  time  as  his  employer contributes pursuant to such section toward pensions-providing-for-increased-take-home-pay provided, however, that such member may by written notice duly acknowledged and filed  with the  comptroller make an election to waive such reduction as provided by subdivision j of section three hundred twenty-one of this  article.  One year  or  more  after the filing thereof, a member may withdraw any such election  by  written  notice  duly  acknowledged  and  filed  with  the comptroller.  No such member shall be required to continue contributions after completing twenty-five years of such service.   e. A member, contributing on the basis of this section at the time  of retirement,  shall  be  entitled  to  retire  after  the  completion  of twenty-five years of creditable  service  in  such  department  or  upon  attainment  of  age  sixty,  if  prior thereto, by filing an application therefore in a manner similar to that provided in section three  hundred seventy  of this article. He thereupon shall receive, upon retirement, a retirement allowance consisting of:   1.  An  annuity  which  shall  be  the  actuarial  equivalent  of  his accumulated contributions at the time of his retirement, plus   2.  A   pension   which   is   the   actuarial   equivalent   of   the reserve-for-increased-take-home-pay to which he may then be entitled, if any, plus   3. A pension of one-one hundredth of his final average salary for each year of service rendered:  (a) Since he last became a member, and  (b)  Prior  to  the completion of twenty-five years of service in such department, and  (c) Toward which he and  his  employer  have  contributed  under  this section, plus   4.  An additional pension of one-fiftieth of his final average salary, multiplied by the number of years of service in such department prior to January first, nineteen  hundred  fifty-eight.  This  pension  shall  be payable  only  if  such member has had one or more years of service as a member. The computation of this pension shall be subject to the  further conditions that:  (a)  The  service  shall  be  limited  so  that  the  service  in such department used as a basis for pension credit under this paragraph  four and  paragraph  three of this subdivision e shall not exceed twenty-five years, and  (b) The amount of the additional  pension  payable  pursuant  to  this paragraph  four shall not exceed the amount needed to increase the total amount of the benefits provided under paragraphs one, two and  three  of this subdivision e to one-half of the final average salary, plus   5.  An  additional  pension  equal  to  the pension for any creditable service rendered while not an employee of such  department  as  provided under  paragraphs  three  and  four  of  subdivision  a of section three hundred seventy-five of this article. This pension shall:  (a) Be payable only if such member has attained age sixty at the  time of retirement and has not completed twenty-five years of service in such department for which he receives credit under this article, and  (b)  Not  increase  the  total  allowance  to  more than he would have received had his total service been rendered in such department.   f. The increased pensions to members of such department,  as  provided by this section, shall be paid from additional contributions made by the county  on  account  of such members. The actuary of the police and fire retirement system shall compute the  additional  contribution  for  each member who elects the special benefits provided under this section. Such additional contributions shall be computed on the basis of contributions during  the  prospective  service  of  such  member which will cover the liability of the police  and  fire  retirement  system  for  such  extra pensions.   Upon  the  approval  by  the  comptroller,  such  additional contributions shall be certified by him or her to the  county  executive of  the  county.  The  amount  thereof  shall  be included in the annual appropriation of the county for the Westchester  county  parkway  police force. Such amount shall be paid on the warrant of the county department of  finance  to  the  pension  accumulation  fund of the police and fire retirement system.   g. In computing the twenty-five years of  completed  service  in  such department,  full credit shall be given and full allowance shall be made for service of such member in war  after  world  war  I  as  defined  in section  two  of  this  article, provided such member at the time of his  entrance into the armed forces was in service in  such  department,  and for  service  in  time  of  war  during world war I and service with the American expeditionary forces subsequent to November eleventh,  nineteen hundred   eighteen,  and  prior  to  June  thirtieth,  nineteen  hundred nineteen,  of  honorably  discharged  officers,  soldiers,  sailors  and marines  who  were  actual  residents  of the state at the time of their entry into the military service of the United States.   h. Upon retirement  of  any  member  pursuant  to  this  section,  any additional  amounts  credited  to  the  member's annuity savings account pursuant to subdivision b  of  section  three  hundred  thirty  of  this article  shall  be  treated as excess contributions and shall be used to provide an annuity  in  addition  to  the  annuity  prescribed  by  this section.  Any  other  amounts  credited  to the member's annuity savings account, except the amounts contributed or required  to  be  contributed under  this  section  and except such amounts as are required to produce the retirement allowance provided by subdivision e of this section,  may at  the  option  of the member of the time of retirement be withdrawn or used to provide an annuity in addition to the annuity prescribed by this section.   i. The provisions of this section shall be controlling notwithstanding any provision in this article to the contrary.