NY Ret & SS L § 163 (2021)
2021 New York Laws RSS - Retirement and Social Security Article 4 - Supplemental Pension Act 163 - Computation of Supplemental Pensions.

§   163.  Computation  of  supplemental  pensions.    1.  The  monthly supplemental pension to be paid to a state  retired  employee  shall  be computed by  (a)  multiplying  by  forty  (or  forty-three and two-fifths in a case where a retired employee may under this act receive a maximum retirement allowance  or  pension,  computed  without  optional  modification,   of thirteen  hundred  and  two  dollars) the number of years, not exceeding thirty, of allowable  and  credited  service  on  which  his  retirement allowance or pension is based,  (b)   subtracting  therefrom  the  amount  of  his  annual  retirement allowance or pension, computed without optional modification, and  (c) dividing the results so obtained by twelve.   2. In no event shall the monthly supplemental pension paid to a  state retired employee exceed  (a)  twenty-five  dollars,  or thirty-three dollars and fifty cents in any case where the maximum under paragraph (b) of  this  subdivision  is one hundred eight dollars and fifty cents, or  (b)  an  amount which, when added to an amount equal to one-twelfth of his annual retirement allowance or pension,  computed  without  optional modification, exceeds  (1) the sum of one hundred dollars, or  (2)  one hundred eight dollars and fifty cents, in the case of a state retired  employee  who  attained  age  sixty-five  before  April  first, nineteen  hundred  fifty-six,  or  who attains such age on or after such date, beginning with the month of April nineteen hundred  fifty-six,  if he  is  then  sixty-five  years  of  age  or  beginning  with  the month thereafter during which he attains age sixty-five, or who  is  a  female person  who  attained age sixty-two before April first, nineteen hundred fifty-seven, or who attains such age on or after  such  date,  beginning with  the  month  of  April nineteen hundred fifty-seven, if she is then sixty-two years of age or beginning with  the  month  thereafter  during which  she  attains  age sixty-two, or is retired for disability, either before or after attaining age fifty, and who attained  such  age  before April first, nineteen hundred fifty-seven, or who attains such age on or after  such  date,  beginning  with  the month of April nineteen hundred fifty-seven, if he is then fifty years of  age  or  beginning  with  the month thereafter during which he attains age fifty, or  (3)  one hundred eight dollars and fifty cents, in the case of a local retired employee, where the municipality shall have  provided  by  local law,  ordinance  or  resolution  for  payments  up to such sum for local retired employees  who  attained  age  sixty-five  before  April  first, nineteen  hundred  fifty-six,  or  who  attain such age on or after such date, beginning with  the  month  when  such  local  law,  ordinance  or resolution  shall  become  effective,  if such local retired employee is then sixty-five years of age or  beginning  with  the  month  thereafter during  which  he  attains age sixty-five, or who are female persons who attained age sixty-two before April first, nineteen hundred fifty-seven, or who attain such age on or after such date, beginning with  the  month when  such local law, ordinance or resolution shall become effective, if such local retired employee is then sixty-two years of age or  beginning with the month thereafter during which she attains age sixty-two, or who are  retired for disability, either before or after attaining age fifty, and  who  attained  age  fifty  before  April  first,  nineteen  hundred fifty-seven,  or  who  attain  such age on or after such date, beginning with the month when such local law, ordinance or resolution shall become effective, if such local retired employee is then fifty years of age  or beginning with the month thereafter during which she attains age fifty.    3.  Except as otherwise provided by or pursuant to subdivision five or subdivision six of this section, the monthly supplemental pension to  be paid  to  a  state retired teacher shall be twenty-five dollars plus the amount, if any, by which one-twelfth of his annual retirement allowance, computed  without  optional modification, is less than fifty dollars. In no event shall the monthly supplemental pension paid to a state  retired teacher  exceed  an  amount  which,  when  added  to  an amount equal to one-twelfth  of  his  annual  retirement  allowance,  computed   without optional modification, exceeds the sum of one hundred dollars.   4.  For  the  purposes  of  this section, in determining the number of years of allowable and credited service, a  major  fraction  of  a  year shall be counted as a full year.   5.  Notwithstanding  any  other  provision  of  this act but except as otherwise provided by or pursuant to  subdivision  six  and  subdivision seven of this section, any state retired teacher who  (a)  attained  age  sixty-five  before  April  first, nineteen hundred fifty-six, or who attains such age on or after  such  date  and  who  is receiving  or  is entitled to receive a supplemental pension pursuant to this act on or after such date shall, beginning with the month of April, nineteen hundred fifty-six, if he is then sixty-five  years  of  age  or beginning  with  the  month  thereafter  during  which  he  attains  age sixty-five, or  (b) is a female person who attained age sixty-two before April  first, nineteen  hundred  fifty-seven, or who attains such age on or after such date and who is receiving or entitled to receive a supplemental  pension pursuant  to  this  act  on or after such date shall, beginning with the month of April, nineteen hundred fifty-seven, if she is  then  sixty-two years  of  age  or  beginning with the month thereafter during which she attains age sixty-two, or  (c) is retired for disability, either before or  after  attaining  age fifty,  and  who  attained such age before April first, nineteen hundred fifty-seven, or who attains such age on or after such date  and  who  is receiving or entitled to receive a supplemental pension pursuant to this act  on  or  after  such  date shall, beginning with the month of April, nineteen hundred fifty-seven, if he  is  then  fifty  years  of  age  or beginning  with  the month thereafter during which he attains age fifty, receive a monthly supplemental pension in an amount which when added  to his  monthly  retirement allowance or pension, computed without optional modification, including any modification due to additional contributions as authorized by subdivision three of section five  hundred  sixteen  of the  education law shall be equal to one hundred eight dollars and fifty cents;  provided,  however,  that  this  subdivision  shall  not  become operative  in  the  case  of  a local retired teacher unless and until a local  law,  ordinance  or  resolution   authorizing   such   additional supplemental  pension  payments  for such a person or persons shall have become effective. receive a monthly supplemental pension in an amount which when added  to his  monthly  retirement allowance or pension, computed without optional modification, shall be equal to one  hundred  eight  dollars  and  fifty cents;  provided,  however,  that  this  subdivision  shall  not  become operative in the case of a local retired  teacher  unless  and  until  a local   law,   ordinance   or  resolution  authorizing  such  additional supplemental pension payments for such a person or  persons  shall  have become effective.   6. Notwithstanding any other provision of this act except as otherwise provided  by  or  pursuant  to  subdivision seven of this section, (a) a state retired teacher, having retired  prior  to  July  first,  nineteen hundred  sixty-one,  who  is  not receiving the primary benefit obtained  under the federal old-age, survivors, and disability  insurance  system, shall  receive,  beginning with the month of September, nineteen hundred sixty-five, a monthly supplemental pension in an amount which when added to  his  monthly  retirement  allowance  or  pension,  computed  without optional modification,  shall  be  equal  to  two  hundred  dollars  and beginning  with  the  month  of  September,  nineteen hundred seventy, a monthly supplemental pension in an  amount  which,  when  added  to  his monthly  retirement  allowance  or  pension,  computed  without optional modification, shall be equal to two hundred twenty-five dollars, or  (b) a  state  retired  teacher, having retired prior to July first, nineteen hundred sixty-one, who is receiving the primary benefit  obtained  under the  federal  old-age, survivors, and disability insurance system, shall receive, beginning with the month of April, nineteen hundred sixty-five, a monthly supplemental pension in an amount which,  when  added  to  his monthly  retirement allowance or pension, without optional modification, shall be equal to one hundred seventy-five dollars;  provided,  however, that  this subdivision shall not become operative in the case of a local retired teacher unless and until a local law,  ordinance  or  resolution authorizing  such  additional  supplemental  pension payments for such a person or persons shall have become effective, and further provided that nothing herein contained shall be construed to  reduce  any  pension  or retirement  allowance,  or  supplemental  pension  being received by any retired teacher prior to April first, nineteen  hundred  sixty-five.  As used  in  this  subdivision  the  term  "optional modification" includes modification due to additional contributions authorized  by  subdivision three of section five hundred sixteen of the education law.   7.  For  persons retiring after June thirtieth, nineteen hundred sixty and prior to the effective date of this chapter, and who  are  otherwise eligible for supplementation under provisions of this act, a retroactive payment  for  supplemental  pensions  shall  be  made, as if chapter one thousand forty of the laws  of  nineteen  hundred  sixty  had  not  been enacted,  covering  the  period  between  the date of retirement and the effective date of this chapter.