NY Ret & SS L § 384 (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 384 - Optional Retirement of Certain Police Officers and Firefighters.

§   384.   Optional   retirement   of   certain  police  officers  and firefighters.  a. Any member of the police and  fire  retirement  system who  is  an  officer  or  member  of  any  organized  fire department or organized police force or police department of any county,  city,  town, village,  fire  district,  police district or participating employer may elect to contribute to the police and  fire  retirement  system  on  the basis  of  retirement upon his or her completion of twenty-five years of service as an officer or member of any such force or  department  on  an allowance of:   1.  One-fiftieth  of  his  final average salary for each year of total service as such officer or member, and   2. One-seventieth of his final average salary for each year  of  total service  for  which  he  otherwise  shall be entitled to credit, but not exceeding in the aggregate one-half of his final average salary.   b. Any officer or member of  such  an  organized  fire  department  or organized  police  force  or  department  may elect to contribute to the police and fire retirement system pursuant to this  section  within  one year  after he or she becomes such an officer or member, or on or before January first, nineteen hundred seventy, or within one year after his or her employer assumed, or assumes in whole or  in  part,  the  additional cost to the police and fire retirement system resulting from an election pursuant to this section.   bb.  On  and  after  April  first,  nineteen  hundred sixty-seven only firefighters, police officers or officers of such a fire  department  or police  force  may elect to contribute to the police and fire retirement system on the basis of retirement pursuant to this section  and,  as  to members so electing, in addition to service in war after world war I, as defined  in  section  three hundred two of this article, only credit for service:   1. As such a firefighter, police officer or officer, or   2. As a member or officer of the state police, or   3. In the regional state park police service,  shall  be  included  in computing  years  of  police  or fire service for retirement pursuant to this section.   c. Elections made pursuant to this section shall  be  in  writing  and shall  be  duly  acknowledged and filed with the comptroller. Any member who files such an election pursuant to  this  section  may  withdraw  it after  it has been filed for at least one year. Such withdrawal shall be by written notice duly acknowledged  and  filed  with  the  comptroller. After  such  withdrawal  such  member shall contribute to the police and fire retirement system as otherwise provided in this article. Any member who has contributed the entire additional cost to the  police  and  fire retirement  system  resulting from an election pursuant to this section, may withdraw such entire additional amount in the event that he  or  she so withdraws such election.   d.  Contributions  for  additional  costs  of  elections to contribute pursuant to this section shall be payable as follows:   1. Except as otherwise provided in this subdivision, a member electing to contribute to the police and fire retirement system pursuant to  this section  shall  pay  the  entire  additional cost to the police and fire retirement system resulting from such election by means  of  a  rate  of contribution.  Such  rate  shall be computed to provide, upon his or her completion of twenty-five years of service as an officer  or  member  of any  such  department  or force, the portion of the retirement allowance for which he or she is required to provide  pursuant  to  this  section. Such  rate  of  contribution  shall be determined in a manner similar to that provided in section three hundred twenty-three of this article  and subject  to  the  provisions  of paragraph four of this subdivision, the  contributions based thereon shall  be  paid  while  such  member  is  an officer or member of any such department or force.   2.  The  member's employer, however, by appropriate action, may (a) in its initial action under this  section,  elect  to  assume  all  of  the additional  cost  on  account  of service as an officer or member of any such department or force rendered prior to the effective  date  of  such election and (b) in any subsequent action, as hereafter provided in this paragraph,  elect  to  assume  all  of the additional cost on account of service as an officer or member of any such other  prior  department  or force  rendered  prior to the effective date of such subsequent election and, in addition may in its initial action under this section, elect  to assume any multiple of twenty-five per centum of such additional cost on account  of such service for such current employer rendered on and after the effective date of such initial  election.  Any  subsequent  election changing  the percentage of additional cost assumed by an employer shall apply only to service rendered  for  such  employer  on  and  after  the effective  date  of such subsequent election. The employer shall pay the additional cost so assumed by any  such  election  by  means  of  annual contributions  which  shall be determined by the actuary and paid by the employer in the same manner as the contributions required under  section three  hundred  twenty-three  of this article. An employer, which in its initial action elected to assume all of the additional cost  on  account of service only as an officer or member of its police or fire department rendered  prior to the effective date of such election may, on or before April first, nineteen hundred sixty-nine, elect to  assume  all  of  the additional   cost,   including  the  cost  of  the  necessary  actuarial re-evaluation on account of service rendered prior to the effective date of the initial action hereunder, as an officer or  member  of  any  such organized fire department or organized police force or department of any county,   city,  town,  village,  fire  district,  police  district,  or participating employer other than such  employer.  Such  rate  shall  be computed to provide the appropriate pension benefits under paragraph two of subdivision e of this section.   3.  Where the employer elected or elects to assume fifty per centum of the additional cost on account of service  rendered  on  and  after  the effective  date  of  any  such  election,  the  member  shall thereafter contribute at a rate computed by the actuary to provide, upon retirement after twenty-five years of service as an officer or member of  any  such department  or  force or upon the attainment of age sixty with less than twenty-five years of such service, an annuity of  one-one  hundredth  of final average salary for each year of such service rendered on and after the  effective date of such election. If the employer assumed or assumes a percentage other than fifty per  centum  of  the  additional  cost  on account  of service rendered on and after the effective date of any such election, the member's rate of contribution shall be modified so that it is computed to provide the portion of the retirement allowance for which he is required to provide.   Such member's rate of contribution  pursuant  to  this  subdivision  d 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.    4. No such member shall be required to  continue  contributions  after completing twenty-five years of such service.   5.   For   actuarial   purposes   relative  to  rates  or  amounts  of contributions to the funds of the police  and  fire  retirement  system, service  of  a member making an election pursuant to this section shall, as to his or her  service  and  status  subsequent  thereto,  be  deemed continuous   and   constant.  If  the  continuity  of  such  service  be interrupted or such status be changed, however, appropriate  changes  as may  be necessary for actuarial purposes shall be made in such rates and amounts.   e. Computation of retirement allowances pursuant to this section.   1. Computation of retirement allowance where member has elected to pay the entire additional cost:   A member who has elected to contribute pursuant to  this  section  and who  has  made  the  contributions  required  by  this  section shall be entitled to retire on or after his completion of  twenty-five  years  of service  as  an  officer  or  member of any such fire department, police force or police department, or upon the attainment  of  age  sixty  with less  than  twenty-five  years of such service, by filing an application therefor in a manner similar to that provided in section  three  hundred seventy  of this article. He thereupon shall receive, upon retirement, a retirement allowance which  shall  not  exceed  one-half  of  his  final average salary.  Such retirement allowance shall consist of:  (a)  An  annuity  which  shall  be  the  actuarial  equivalent  of his accumulated contributions at the time of his retirement, and  (b)  A  pension   which   is   the   actuarial   equivalent   of   the reserve-for-increased-take-home-pay to which he may then be entitled, if any, and  (c)  A  pension  of  one-one hundredth of his final average salary for each year  of  service  as  an  officer  or  member  of  any  such  fire department, police force or police department, and  (d)  An  additional  pension  of one-one hundred fortieth of his final average salary for each year of member service for  which  he  otherwise shall  be  entitled  to credit and which was earned by him since he last become a member, and  (e) If he has had one or  more  years  of  service  as  a  member,  an additional  pension  which  shall  be equal to one-fiftieth of his final average salary for each year of prior service as an officer or member of any such fire  department,  police  force  or  police  department,  plus one-seventieth  of  his  final  average  salary  for  each year of prior service to which he otherwise shall be entitled to credit.  (f) Upon  completion  of  twenty-five  years  service,  an  additional pension,  if  required, of such amount as shall be necessary to increase the total amount of the benefits provided  herein  to  one-half  of  his final  average  salary. The pension provided by this sub-paragraph shall be payable only if a member retires from service on or before  the  last day of the calendar month next succeeding the calendar month in which he attains age sixty-two. Provided, however, that in the case of any member who  attained  the  age  of  sixty-two on or before July first, nineteen hundred sixty-six, to be eligible for additional  pension  credit  under this  sub-paragraph, his service shall be terminated and he shall retire on or before December thirty-first, nineteen  hundred  sixty-seven.  For the  purpose  only  of determining the amount of the pension provided in this paragraph, the annuity shall be computed as it would be if it  were not  reduced by the actuarial equivalent of any outstanding loan, and if it were not increased by the  actuarial  equivalent  of  any  additional contributions,  and  if  it  were  not reduced by reason of the member's election to decrease his annuity contributions to the retirement  system  in  order  to  apply  the  amount  of  such  reduction in payment of his contributions for old-age and survivors insurance coverage.   2.  Computation  of retirement allowance where employer has elected to pay all or part of the additional cost:   A member who has elected to contribute pursuant to  this  section  and who  has  made  the  contributions  required  by this section, and whose employer has by appropriate action elected to pay all  or  part  of  the additional  cost  of  the  benefits  provided  by this section, shall be entitled to retire on or after his completion of  twenty-five  years  of service  as  an  officer  or  member of any such fire department, police force or police department, or upon the attainment  of  age  sixty  with less  than  twenty-five  years of such service, by filing an application therefor in a manner similar to that provided in section  three  hundred seventy  of this article. He thereupon shall receive, upon retirement, a retirement allowance which  shall  not  exceed  one-half  of  his  final average salary.  Such retirement allowance shall consist of:  (a)  An  annuity  which  shall  be  the  actuarial  equivalent  of his accumulated contributions at the time of his retirement, and  (b)   A   pension   which   the   actuarial    equivalent    of    the reserve-for-increased-take-home-pay to which he may then be entitled, if any, and  (c)  A pension for each year of service as an officer or member of any such fire department, police force or police department, rendered on and after the effective date of the employer's election under this  section, computed  pursuant  to  the  one of the following four formulae which is appropriate:  (1) If his employer elected to  pay  twenty-five  per  centum  of  the additional  cost  on  account  of such service rendered on and after the effective date  of  such  election,  such  pension  shall  be  six-seven hundredths  (6/700)  of  his  final average salary for each year of such service after such date, or  (2) If his employer elected to pay fifty per centum of the  additional cost on account of such service rendered on and after the effective date of such election, such pension shall be one-one hundredth (1/100) of his final average salary for each year of such service after such date, or  (3)  If  his  employer  elected  to pay seventy-five per centum of the additional cost on account of such service rendered  on  and  after  the effective  date  of  such  election,  such  pension shall be eight-seven hundredths (8/700) of his final average salary for  each  year  of  such service after such date, or  (4)  If  his  employer  elected  to  pay one hundred per centum of the additional cost on account of such service rendered  on  and  after  the effective  date  of  such  election,  such  pension  shall be nine-seven hundredths (9/700) of his final average salary for  each  year  of  such service after such date, and  (d)  An  additional  pension  for  such  service,  exclusive  of prior service, rendered before the effective date of  the  employer's  initial election under this section, of one-fiftieth of his final average salary for each year of such service, minus a sum equal to the annuity provided out of the normal contributions, with accumulated interest thereon, made by  the member during such period and minus a sum which is the actuarial equivalent of  the  reduction  in  his  contributions  pursuant  to  the provisions  of  section three hundred seventy-a of this article, if any, during such period, with regular interest thereon, and  (e) An additional pension of one-one hundred  fortieth  of  his  final average  salary  for  each year of member service for which he otherwise shall be entitled to credit and which was earned by him  since  he  last became a member, and  (f)  If  he  has  had  one  or  more  years of service as a member, an additional pension which shall be equal to  one-fiftieth  of  his  final average salary for each year of such service, which is credited as prior service,  plus  one-seventieth of his final average salary for each year of prior service for which he otherwise shall be entitled to credit.  (g)  Upon  completion  of  twenty-five  years  service,  an additional pension, if required, of such amount as shall be necessary  to  increase the  total  amount  of  the  benefits provided herein to one-half of his final average salary. The pension provided by this  sub-paragraph  shall be  payable  only if a member retires from service on or before the last day of the calendar month next succeeding the calendar month in which he attains age sixty-two. Provided, however, that in the case of any member who attained the age of sixty-two before or within one month  after  his employer  first  elected to assume all or part of the additional cost of service as provided by paragraph two of subdivision d of  this  section, to  be  eligible for additional pension credit under this sub-paragraph, his service shall be terminated and he shall retire within three  months after  his  employer  so  elects  or on or before December thirty-first, nineteen hundred sixty-eight, whichever shall last occur.   For the purpose only of determining the amount of the pension provided in this paragraph, the annuity shall be computed as it would  be  if  it were  not  reduced  by the actuarial equivalent of any outstanding loan, and if it  were  not  increased  by  the  actuarial  equivalent  of  any additional  contributions,  and  if it were not reduced by reason of the member's  election  to  decrease  his  annuity  contributions   to   the retirement  system  in  order  to  apply the amount of said reduction in payment  of  his  contributions  for  old-age  and  survivors  insurance coverage.   f.  In  the event a member shall continue in service after twenty-five years of total creditable service, as defined in subdivision bb of  this section, there shall be added to his pension upon retirement a sum equal to   one-sixtieth  of  his  final  average  salary  for  each  completed additional year of service after twenty-five years.   g. The increased pension provided for in subdivision f hereof shall be conditioned upon the participating employer electing in a manner similar to that provided in subdivision a of section  three  hundred  thirty  of this  article  to provide this added benefit and assuming the additional cost thereof on account of all  of  the  officers  and  members  of  its organized  fire  department  or organized police force or department who are contributing under the provisions of this  section.  Such  increased pensions  to  the  members  in  either  department  shall  be  paid from additional contributions made by the appropriate participating  employer on  account  of such members. The actuary of the retirement system shall compute the additional contributions for each  employer  who  elects  to provide  the  special  benefits  provided  under  subdivision  f of this section. Such additional contributions shall be computed on the basis of contributions during the prospective service of such members which  will cover  the  liability  of the retirement system for such extra pensions. Upon approval of the comptroller, such additional contributions shall be certified by him to the fiscal officer of  the  participating  employer. The  amount thereof shall be included in the annual appropriation of the participating employer for its police and fire departments. Such  amount shall  be paid on the warrant of the fiscal officer of the participating employer to the pension accumulation fund of the retirement system.   h. Any  officer  or  member  of  such  organized  fire  department  or organized  police  force  or  department,  may, within one year after he becomes such officer or member or within one  year  after  his  employer assumes  the additional cost therefor, whichever shall last occur, elect  to receive the additional benefits provided for by subdivision f hereof. Any officer or member who elects  to  receive  such  benefits  shall  be separated  from  service  on  the  first  day of the calendar month next succeeding  his  attainment  of  age  sixty-two  and  the  completion of twenty-five years of service, provided, however, that in the case of any officer or member who attained the age of sixty-two before his  employer assumed  the  additional  cost  therefor,  or  who  attains  the  age of sixty-two within one month after his  employer  assumes  the  additional cost  therefor,  to  be  eligible  for  additional  pension credit under subdivision f of this section, his service shall be  terminated  and  he shall  be  retired  within  three  months after his employer assumes the additional cost therefor or on or before December thirty-first, nineteen hundred sixty-eight, whichever shall last occur,  and  provided  further that  a  member  who  is  a  chief  or  commanding  officer  of a police department or police force shall retire on the first day of the calendar month next succeeding his attainment of age sixty-five; a member who  is a  chief  or  commanding officer of a police department or police force, who attained age sixty-five before his employer elected to provide  this added  benefit  and  has  rendered twenty-five years of total creditable service, shall retire  on  or  before  December  thirty-first,  nineteen hundred  sixty-eight,  or within one year after his employer assumes the additional cost therefor, whichever shall last occur.   i. In lieu of the provisions of subdivisions f, g and  h  and  in  the event  a  member  shall  continue  in service after twenty-five years of total creditable service, as defined in subdivision bb of this  section, there  shall  be  added  to  his  pension upon retirement a sum equal to one-one hundred twentieth of his final average salary for each completed additional year of service after twenty-five years.   j. The increased pension provided for in subdivision i hereof shall be conditioned upon the participating employer electing in a manner similar to that provided in subdivision a of section  three  hundred  thirty  of this  article  to provide this added benefit and assuming the additional cost thereof on account of all  of  the  officers  and  members  of  its organized  fire  department  or organized police force or department who are contributing under the provisions of this  section.  Such  increased pensions  to  the  members  in  either  department  shall  be  paid from additional contributions made by the appropriate participating  employer on  account  of such members. The actuary of the retirement system shall compute the additional contributions for each  employer  who  elects  to provide  the  special  benefits  provided  under  subdivision  i of this section. Such additional contributions shall be computed on the basis of contributions during the prospective service of such members which  will cover  the  liability  of the retirement system for such extra pensions. Upon approval of the comptroller, such additional contributions shall be certified by him to the fiscal officer of  the  participating  employer. The  amount thereof shall be included in the annual appropriation of the participating employer for its police and fire departments. Such  amount shall  be paid on the warrant of the fiscal officer of the participating employer to the pension accumulation fund of the retirement system.   k. Any  officer  or  member  of  such  organized  fire  department  or organized  police  force  or  department,  may, within one year after he becomes such officer or member or within one  year  after  his  employer assumes  the additional cost therefor, whichever shall last occur, elect to receive the additional benefits provided for by subdivision i hereof. Any officer or member who elects  to  receive  such  benefits  shall  be separated  from  service  on  the  first  day of the calendar month next succeeding his  attainment  of  age  sixty-two  and  the  completion  of twenty-five years of service, provided, however, that in the case of any  officer  or member who attained the age of sixty-two before his employer assumed the  additional  cost  therefor,  or  who  attains  the  age  of sixty-two  within  one  month  after his employer assumes the additional cost  therefor,  to  be  eligible  for  additional  pension credit under subdivision i of this section, his service shall be  terminated  and  he shall  be  retired  within  three  months after his employer assumes the additional  cost  therefor,  or  on  or  before  December  thirty-first, nineteen  hundred  sixty-eight, whichever shall last occur, and provided further that a member who is a chief or commanding officer of  a  police department or police force shall retire on the first day of the calendar month  next succeeding his attainment of age sixty-five; a member who is a chief or commanding officer of a police department  or  police  force, who  attained age sixty-five before his employer elected to provide this added benefit and has rendered twenty-five  years  of  total  creditable service,  shall  retire  on  or  before  December thirty-first, nineteen hundred sixty-eight, or within one year after his employer  assumes  the additional cost therefor, whichever shall last occur.   l.  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 at the time of retirement  be  withdrawn  or used to provide an annuity in addition to the annuity prescribed by this section.   m. Service in the division of state police in the executive department shall be considered allowable service in an organized fire department or an  organized  police force or police department for the purpose of this section, provided  that  the  member  pays  or  has  paid  the  required contributions.   n.  Notwithstanding  any  provision  of  subdivision  bb  or g of this section, service as a fire chief-airport, firefighter-airport, and  fire captain-airport  of  the  county  of  Monroe  shall  be included for the purpose of computing police or fire service for retirement  pursuant  to this  section,  provided the county of Monroe has elected to participate in the New York state and local police and fire retirement system on the behalf  of  its  fire  chief-airport,  firefighters-airport,  and   fire captains-airport and elects to provide the benefit of this section.   * o.  The  benefits hereinabove provided shall be payable to a member, unless at the  date  of  retirement,  such  member  would  otherwise  be entitled to a greater benefit under other provisions of this article had he  withdrawn  from  this  section, in which event such greater benefits shall be payable.   * NB There are 2 sb o's   * o. Any member of the New  York  state  and  local  police  and  fire retirement  system  who  was  a  member  of the New York city employees' retirement system while employed as a New York  city  police  department trainee  or a New York city transit officer trainee and whose membership therein was terminated by his attaining membership in the New York state and local police and fire retirement system, may purchase credit in  the New  York  state  and  local police and fire retirement system for prior creditable service in the New York  city  employees'  retirement  system earned  while employed as a police department trainee or transit officer trainee and shall have the period of such prior service  credit  counted  as  police  service  for  the  purpose  of determining the amount of his pension and retirement  allowance  and  period  of  service  needed  for retirement.  In  order  to purchase credit pursuant to this subdivision, the member shall pay into the pension accumulation fund the contribution amount  as  determined  by  the  comptroller, either in a lump sum or in installments, necessary to  pay  in  full  the  cost  of  such  previous service. If such payment be made in installments, the same shall be paid within  a  period  no  greater  than the number of months of such member service granted.   * NB There are 2 sb o's   p. Notwithstanding any  provision  of  this  section,  service  as  an aircraft   rescue   firefighter   employed   by   the  Niagara  frontier transportation authority shall be included for the purpose of  computing police or fire service for retirement pursuant to this section, provided such  authority  has  elected  to  participate in the New York state and local police and fire retirement system on the behalf  of  its  aircraft rescue firefighters and elects to provide the benefit of this section.   q. The provisions of this section shall be controlling notwithstanding any provision of this article to the contrary.