NY Educ L § 392 (2021)
2021 New York Laws EDN - Education Title 1 - General Provisions Article 8-B - State University Optional Retirement Program 392 - Rates of Contribution.

§ 392. Rates  of  contribution. 1. Employer contributions. In the case of  any  electing  employee  initially  appointed  on  or  before   June thirtieth,  nineteen  hundred  ninety-two,  the  state,  with respect to employees of state university, and the electing employer,  with  respect to  employees  of  a community college, shall, during continuance of his employment, make contributions at the rate of  nine  percentum  of  that portion  of  his  salary  upon  which  contributions, if any, are or may hereafter be paid to the secretary of the treasury of the United  States pursuant  to article three of the retirement and social security law and at the rate of twelve percentum of any portion of his salary upon  which such   contributions  are  not  paid,  out  of  monies  which  shall  be appropriated to state university or which  shall  be  available  to  the electing employer for such purpose. In the case of any electing employee initially appointed on or after July first, nineteen hundred ninety-two, the  state,  with  respect  to employees of the state university and the electing employer, with respect to employees  of  a  community  college, shall,  during  continuance of his employment, make contributions at the rate of eight percentum of his salary during the first  seven  years  of such  employment  and  at  the  rate  of  ten  percentum  of  his salary thereafter, out of monies which  shall  be  appropriated  to  the  state university or which shall be available to the electing employer for such purpose.   For  purposes  of  this  subdivision,  that  portion  of  the employee's salary upon which contributions are or may thereafter be paid to the secretary of the  treasury  of  the  United  States  pursuant  to article  three of the retirement and social security law shall be deemed not to exceed sixteen thousand five hundred dollars.   1-a. Employer contributions. In the  case  of  any  electing  employee excluded  from  or  not encompassed within a negotiating unit within the meaning of article fourteen of the civil service law initially hired  on or  after  July first, two thousand thirteen, the state and the electing employer shall, during the continuance of his or  her  employment,  make contributions at the rate of eight per centum of his or her salary.   2.  Employee  contributions. (a) In the case of any electing employee, contributions at the rate of three percentum  of  his  salary  shall  be deducted  as  the  employee  contribution  by the comptroller, or by the appropriate  fiscal  officer  with  respect  to  an  electing  employer, provided  however,  that such employee contribution shall be made by (i) the state for  employees  other  than  those  employed  by  an  electing employer  in accordance with subdivision one of this section during such period as (a) either section seventy-a  of  the  retirement  and  social security law or section five hundred twenty-eight of this title provides that  the  contribution  of each member of the New York state employees' retirement system or the New York state teachers' retirement  system  in the  employ of the state shall be reduced by at least eight percentum of his compensation or (b) employee contributions to either such system are no longer required by reason of such system becoming noncontributory for state employees, or (ii) by the electing  employer  in  accordance  with subdivision  one of this section during such period as the contributions of any members of either the New York state employees' retirement system or the New York state teachers' retirement system or of any other public retirement system in this state in its employ shall (a) be reduced by at least eight percentum of their compensation in accordance  with  section seventy-a  of  the  retirement  and  social security law or section five hundred twenty-nine of this title or section B3-36.1 or section B20-41.1 of the administrative code of the city  of  New  York  or  (b)  employee contributions  to  any  such  system  of  which any of its employees are members are no longer required by reasons of such  system  becoming  non contributory  for  such  employees;  and provided further, however, that  such employee contribution with respect to the fiscal year of  the  city of  New  York  beginning on July first, nineteen hundred seventy-two and ending on June thirtieth, nineteen hundred seventy-three shall  be  made by  the  electing  employer  in the case of any electing employee who is employed by a community college operated in such  city,  notwithstanding any of the foregoing provisions of this subdivision to the contrary.  (b) Notwithstanding any provision of paragraph (a) of this subdivision or  any  other  provision  of  law  to  the contrary, but subject to the provisions of subdivision d of  section  six  hundred  thirteen  of  the retirement and social security law, in the case of any electing employee initially  appointed on or after July first, nineteen hundred ninety-two who is employed by a community college subject to the provisions of this article which is operated in the city of New York, contributions at  the rate  of  three  percentum of his or her salary shall be deducted as the employee contribution by the appropriate fiscal officer with respect  to such community college.  (c)  Notwithstanding  any other provision of this section or any other law to the contrary, (1) on and after April first,  two  thousand  eight for  a  member  who  joined  the optional retirement program established pursuant to this article before April first, two thousand twelve and who has ten or more years of membership in such optional retirement program, the state shall contribute  one-third  of  the  three  percent  employee contribution  required  pursuant  to  the  provisions of this section on behalf of such employee; and (2) on and after April first, two  thousand nine for a member who joined the optional retirement program established pursuant to this article before April first, two thousand twelve and who has ten or more years of membership in such optional retirement program, the  state  shall  contribute  two-thirds  of the three percent employee contribution required pursuant to the  provisions  of  this  section  on behalf  of such employee; and (3) on and after April first, two thousand ten for a member who joined the optional retirement program  established pursuant to this article before April first, two thousand twelve and who has ten or more years of membership in such optional retirement program, the  state  shall  contribute  the  three  percent employee contribution required pursuant to the provisions of this section on  behalf  of  such employee.  The  provisions  of  this  paragraph  shall  not apply to any electing employee who  becomes  a  member  of  the  optional  retirement program on or after April first, two thousand twelve.  (d)  Notwithstanding  any  other  law to the contrary, beginning April first, two thousand thirteen any electing employee appointed on or after April first, two thousand twelve, the rate at which each  such  employee shall  contribute  in  any  current plan year (January first to December thirty-first) shall be determined by reference  to  the  wages  of  such member  in the second plan year (January first to December thirty-first) preceding such current plan year as follows:  (i) members with wages of forty-five thousand  dollars  per  annum  or less shall contribute three per centum of annual wages;  (ii)  members  with  wages greater than forty-five thousand per annum, but not more than fifty-five thousand per annum shall  contribute  three and one-half per centum of annual wages;  (iii)  members  with wages greater than fifty-five thousand per annum, but not more than seventy-five thousand per annum shall contribute  four and one-half per centum of annual wages;  (iv)  members  with wages greater than seventy-five thousand per annum but not more than one hundred thousand per annum shall  contribute  five and three-quarters per centum of annual wages; and  (v)  members  with  wages  greater than one hundred thousand per annum shall contribute six per centum of annual wages.    Notwithstanding the foregoing, during each of  the  first  three  plan years  (January first to December thirty-first) in which such member has established membership  in  the  State  University  Optional  Retirement Program,  such  employee  shall  contribute a percent of annual wages in accordance with the preceding schedule based upon a projection of annual wages provided by the employer.   3.  Payment  of  contributions pursuant to subdivisions one and two of this section shall be made to the designated insurer  or  insurers  upon audit  and  warrant  of  the  comptroller  for  employees  of  the state university and by the appropriate fiscal officer  for  employees  of  an electing employer.   4. In the case of an electing employee initially appointed on or after July  first,  nineteen  hundred sixty-four, no contributions pursuant to subdivisions one and two of this section shall be made by the  state  or by the electing employer until his completion of one year of service and continuance  in  service  thereafter.  Employee  contributions,  if any, required during this initial year of service shall be deducted and  held by  the  comptroller or by the appropriate fiscal officer of an electing employer.  At  the  end  of  his  initial  year  of  service,  a  single contribution  in  an  amount determined pursuant to subdivisions one and two of this section, with interest at the rate  of  four  percentum  per annum,  shall  be  made  by  the  state,  upon  audit and warrant of the comptroller, and by the  appropriate  fiscal  officer  for  an  electing employer,  to  the  designated  insurer  or  insurers, on behalf of such employee continued in service. In the case of an electing  employee  who does  not  continue in service with state university or with a community college beyond his initial year  of  service,  the  amount  of  employee contribution, if any, deducted from his salary shall be refunded to him, with interest at the rate of four percentum per annum.   5.  The provisions of subdivision four of this section shall not apply to any  electing  employee  other  than  an  employee  appointed  for  a specified  period  of less than three months who, at the time of initial appointment, owns a contract determined by the board to  be  similar  to those  contracts  to  be purchased under the optional retirement program and issued by the designated insurer or insurers.