NY Ret & SS L § 445-D (2021)
2021 New York Laws RSS - Retirement and Social Security Article 11 - Limitations Applicable to New Entrants 445-D - Optional Age Fifty-Five Improved Benefit Retirement Program for Certain New York City Members.

* § 445-d. Optional age fifty-five improved benefit retirement program for  certain  New York city members. a. Definitions. The following words and phrases as used in this section shall have  the  following  meanings unless a different meaning is plainly required by the context.   1. "NYCERS" shall mean the New York city employees' retirement system.   2.  "BERS"  shall mean the board of education retirement system of the city of New York.   3. "Administrative code" shall mean the  administrative  code  of  the city of New York.   4.  "BERS  rules and regulations" shall mean the rules and regulations for the government, management and control of BERS adopted  pursuant  to section twenty-five hundred seventy-five of the education law.   5. "New York city eligible position" shall mean:  (i)  with  respect to members of NYCERS, all positions in city-service (as defined in subdivision three of section 13-101 of the administrative code), except (a) any position in the uniformed transit police force, as defined  in  subdivision   thirty-one   of   section   13-101   of   the administrative  code;  (b)  any  position  in  the New York city transit authority which is covered by the provisions of section  13-161  of  the administrative code, whether or not the person employed in such position elected  the  benefits  of  such section 13-161; (c) any position in the housing police service, as defined in subdivision thirty-five of section 13-101 of the administrative code; (d) any  position  in  the  uniformed correction  force,  as  defined  in  subdivision  thirty-nine of section 13-101 of the administrative code; (e) any  position  in  the  uniformed force  of  the  department  of  sanitation,  as  defined  in subdivision sixty-two  of  section  13-101  of  the  administrative  code;  (f)  the positions  of  bridge  and  tunnel  officer, bridge and tunnel sergeant, bridge and tunnel lieutenant, assistant bridge  and  tunnel  maintainer, bridge  and  tunnel  maintainer, senior bridge and tunnel maintainer and laborer with  the  Triborough  bridge  and  tunnel  authority;  (g)  any position  in  the  division  of  housing  and community renewal; (h) any position in the unified court system; (i) any teaching position with the city university of New York; and (j) any  position  as  an  investigator member; or  (ii)  with  respect  to  members  of  BERS, all positions in education service (as defined in paragraph fifteen of  this  subdivision),  except any  position  as a substitute teacher or any other position represented by  the  recognized  teacher  organization  for  collective   bargaining purposes.   6.  "New  York  city eligible member" shall mean a member of NYCERS or BERS who is subject to  the  provisions  of  this  article  and  who  is employed in a New York city eligible position.   7. "Age fifty-five improved benefit retirement program" shall mean all the terms and conditions of this section.   8.  "Starting  date  of the age fifty-five improved benefit retirement program" shall mean the commencement date of the  first  payroll  period which begins after January first, nineteen hundred ninety-five.   9.  "Enactment  date of the age fifty-five improved benefit retirement program" shall mean the date this section takes effect.   10. "Participant in the age  fifty-five  improved  benefit  retirement program"  shall  mean  any  New York city eligible member who, under the applicable provisions of subdivision b of this section, is  entitled  to the rights, benefits and privileges and is subject to the obligations of the age fifty-five improved benefit retirement program, as applicable to him or her.   11. "Physically taxing position" shall mean, for a member of NYCERS, a New York city eligible position which is a physically taxing position as  defined in subdivision fifty-six of section 13-101 of the administrative code  or,  for a member of BERS, a New York city eligible position which is a physically taxing position as defined in subdivision thirty-five of section two of the BERS rules and regulations.   12. "Participating retirement system" shall mean NYCERS or BERS.   13.  "Credited  CPP  qualifying  service"  shall mean, for a member of NYCERS,  career  pension  plan  qualifying  service,   as   defined   in subdivision  forty-eight  of  section 13-101 of the administrative code, which is credited to such member or, for a member  of  BERS,  creditable career  pension  plan service, as defined in subdivision thirty-eight of section two of the BERS rules and regulations, which is credited to such member.   14. "Active service" shall mean, for a member of NYCERS,  city-service (as defined in subdivision three of section 13-101 of the administrative code)  for  which  such  member  is  being paid on the payroll or, for a member of BERS, education service (as defined in  paragraph  fifteen  of this subdivision) for which such member is being paid on the payroll.   15.  "Education  service"  shall  mean  service  as a paid official or employee of the board of education of the city of New York  or  the  New York  city  school construction authority, and allowable pursuant to the applicable provisions which govern the service credit  of  a  member  of BERS.   b.   Participation  in  age  fifty-five  improved  benefit  retirement program.  1. Subject to the provisions of paragraphs  five  and  six  of this  subdivision,  any person who is a New York city eligible member in active service on the enactment date  of  the  age  fifty-five  improved benefit  retirement program may elect to become a participant in the age fifty-five improved benefit retirement program by filing, within  ninety days  after  such  enactment  date, a duly executed application for such participation with the retirement system  of  which  such  person  is  a member,  provided he or she is a New York city eligible member in active service on the date such application is filed.   2. Subject to the provisions  of  paragraphs  five  and  six  of  this subdivision,  any  person who becomes a New York city eligible member in active service after the enactment date of the age  fifty-five  improved benefit  retirement program may elect to become a participant in the age fifty-five improved benefit retirement program by filing, within  ninety days after becoming a New York city eligible member in active service, a duly  executed  application  for  such participation with the retirement system of which such person is a member, provided he or  she  is  a  New York city eligible member in active service on the date such application is filed.   3.  (i) Except as provided in subparagraph (ii) of this paragraph, any election to be a participant in  the  age  fifty-five  improved  benefit retirement program shall be irrevocable.  (ii)  Notwithstanding  any other provision of law to the contrary, any participant in the age fifty-five improved  benefit  retirement  program whose age and amount of credited CPP qualifying service (which amount of credited  CPP qualifying service shall, for the limited purposes only of this subparagraph, include  service  rendered  previous  to  becoming  a member  which  is  not yet credited, but for which such person is or may become eligible to obtain CPP  qualifying  service  credit  pursuant  to applicable  provisions  of  law)  at  the  time of first becoming such a participant are such that he or  she  could  not  possibly  be  able  to accumulate  a  total  of  at  least  twenty-five  years  of credited CPP qualifying service by the time he or she reaches age sixty-two, assuming such person were to earn a full year of credited CPP qualifying  service in  each  and  every year until he or she becomes sixty-two years of age  (whether or not such person actually intends to  earn  such  amounts  of credit),   may   withdraw  from  the  age  fifty-five  improved  benefit retirement program by filing, within two years after first becoming such a  participant,  or within the period beginning November first, nineteen hundred ninety-seven and  ending  January  thirtieth,  nineteen  hundred ninety-eight,  a  written request to withdraw from such program with the retirement system of which such person is a member.   4. Where any  participant  in  the  age  fifty-five  improved  benefit retirement  program  shall  cease  to  hold  a  New  York  city eligible position, he or she shall cease to be such a participant and, during any period in which such person is not a New York city eligible  member,  he or she shall not be a participant in the age fifty-five improved benefit retirement program.   5.  Where  any  participant  in  the  age  fifty-five improved benefit retirement program terminates  service  in  a  New  York  city  eligible position  and returns to service in a New York city eligible position at a later date and again becomes a New York city eligible  member,  he  or she  shall again become such a participant upon becoming a New York city eligible member.   6. Notwithstanding any other provision of law  to  the  contrary,  any person  who  is  eligible  to  elect  to become a participant in the age fifty-five improved benefit retirement program pursuant to paragraph one or two of this subdivision for the full ninety-day period  provided  for in  such  applicable  paragraph,  and  who  fails  to timely file a duly executed  application  for  such  participation  with  the   appropriate retirement  system,  shall  not  thereafter  be  eligible  to  become  a participant in such program.   c. 1. Non-physically taxing service  retirement.  Notwithstanding  any other  provision  of  law  to  the  contrary,  a  participant in the age fifty-five improved benefit retirement program:  (i) who is otherwise eligible to retire  for  service  with  immediate payability  of  a retirement allowance pursuant to section 13-162 of the administrative code or section thirty of the BERS rules and regulations; and  (ii) who has completed twenty-five  or  more  years  of  credited  CPP qualifying service; and  (iii) who has attained age fifty-five; and  (iv)  who, subject to the provisions of paragraph ten of subdivision d of this section, has paid, before the effective date of retirement,  all additional  member  contributions  and  interest  (if  any)  required by paragraphs one, four, five and six of subdivision d of this section; and  (v) who shall be a participant in the age fifty-five improved  benefit retirement program in active service at the time so specified for his or her  retirement;  shall,  subject  to the provisions of paragraph ten of subdivision d of this section, be permitted to  retire  with  a  minimum retirement  age  of fifty-five, and the benefit reduction provisions set forth in subdivision a of section four hundred forty-two of this article shall not be applied to the calculation of such participant's retirement benefit.   2. Physically taxing service retirement.  A  participant  in  the  age fifty-five improved benefit retirement program:  (i)  who  is  otherwise  eligible to retire for service with immediate payability of a retirement allowance pursuant to section 13-162  of  the administrative code or section thirty of the BERS rules and regulations; and  (ii)  who  has  completed  twenty-five  or  more years of credited CPP qualifying service in  a  physically  taxing  position  (as  defined  in paragraph eleven of subdivision a of this section); and  (iii) who has attained age fifty; and  (iv)  who, subject to the provisions of paragraph ten of subdivision d of this section, has paid, before the effective date of retirement,  all additional  member  contributions  and  interest  (if  any)  required by paragraphs one, four, five and six of subdivision d of this section; and  (v) who shall be a participant in the age fifty-five improved  benefit retirement program in active service at the time so specified for his or her  retirement;  shall,  subject  to the provisions of paragraph ten of subdivision d of this section, be permitted to  retire  with  a  minimum retirement  age of fifty, and the benefit reduction provisions set forth in subdivision a of section four hundred forty-two of this article shall not be applied to  the  calculation  of  such  participant's  retirement benefit.   d.  Additional  member  contributions.  1.  In  addition to the member contributions required by section 13-125 or 13-162 of the administrative code or section eight or thirty of the BERS rules and regulations,  each participant  in  the  age fifty-five improved benefit retirement program shall contribute,  subject  to  the  applicable  provisions  of  section 13-125.2  of  the administrative code or subdivision nineteen of section twenty-five hundred seventy-five of the  education  law,  an  additional percentage  or  additional percentages of his or her compensation to the retirement system of which he or she is a member in accordance with  the following schedule:  (i)  (A) each such participant shall contribute an additional four and thirty-five one-hundredths percent of his  or  her  compensation  earned from all credited CPP qualifying service (whether or not in a physically taxing  position)  rendered  on  and  after the starting date of the age fifty-five  improved  benefit  retirement  program  and  prior  to   the commencement date of the first payroll period which begins after January first,  nineteen  hundred  ninety-eight  (1)  while  such  person  is  a participant in such program; and (2) before such person becomes  such  a participant  pursuant  to  paragraph one or two of subdivision b of this section (whether or not rendered in a New York city eligible  position); and  (3)  after such person ceases to be a participant, but before he or she again becomes such a participant pursuant to paragraph five of  such subdivision  b  (whether  or  not  rendered  in a New York city eligible position); and  (B) each such participant  shall  contribute  an  additional  two  and eighty-five  one-hundredths  percent  of  his or her compensation earned from all credited CPP qualifying service (whether or not in a physically taxing position) rendered on and after  the  commencement  date  of  the first  payroll period which begins after January first, nineteen hundred ninety-eight and prior to the commencement date  of  the  first  payroll period  which  begins subsequent to the effective date of the chapter of the laws of two thousand one which amended  this  item  (1)  while  such person  is  a  participant  in  such program; and (2) before such person becomes  such  a  participant  pursuant  to  paragraph  one  or  two  of subdivision  b  of  this  section (whether or not rendered in a New York city eligible position); and (3)  after  such  person  ceases  to  be  a participant,  but  before  he  or  she  again becomes such a participant pursuant to paragraph  five  of  such  subdivision  b  (whether  or  not rendered in a New York city eligible position); and  (C)  each  such  participant  shall  contribute  an additional one and eighty-five one-hundredths percent of his  or  her  compensation  earned from all credited CPP qualifying service (whether or not in a physically taxing  position)  rendered  on  and  after the commencement date of the first payroll period which begins subsequent to the  effective  date  of the  chapter  of  the laws of two thousand one which added this item (1)  while such person is a participant in such program; and (2) before  such person  becomes  such  a participant pursuant to paragraph one or two of subdivision b of this section (whether or not rendered  in  a  New  York city  eligible  position);  and  (3)  after  such  person ceases to be a participant, but before he or  she  again  becomes  such  a  participant pursuant  to  paragraph  five  of  such  subdivision  b  (whether or not rendered in a New York city eligible position); and  (ii) each such participant who is  employed  in  a  physically  taxing position  (as  defined  in  paragraph  eleven  of  subdivision a of this section)  shall  contribute,  in  addition  to  the  additional   member contributions  required  to  be  made  at the percentage of compensation specified in subparagraph (i) of this paragraph  for  the  credited  CPP qualifying service specified in such subparagraph (i), an additional one and  ninety-eight  one-hundredths  percent  of  his  or her compensation earned from that portion of such credited CPP qualifying  service  which is  rendered  in  a physically taxing position on and after the starting date of the age fifty-five improved benefit retirement program (A) while such person is a participant in such program; and (B) before such person becomes  such  a  participant  pursuant  to  paragraph  one  or  two  of subdivision  b of this section; and (C) after such person ceases to be a participant, but before he or  she  again  becomes  such  a  participant pursuant to paragraph five of such subdivision b.   2.  A  participant  in  the age fifty-five improved benefit retirement program shall contribute additional member contributions only  until  he or she has twenty-five years of credited CPP qualifying service.   3. (i) Commencing with the first full payroll period after each person becomes  a participant in the age fifty-five improved benefit retirement program, additional member contributions at the applicable rate or rates specified in paragraph  one  of  this  subdivision  for  the  particular credited  CPP  qualifying  service  being  rendered  shall  be deducted, subject  to  the  applicable  provisions  of  section  13-125.2  of  the administrative  code  or  subdivision  nineteen  of  section twenty-five hundred seventy-five of the education law, from the compensation of such participant on each and every payroll of such participant for  each  and every payroll period for which he or she is such a participant.  (ii)  (A)  Those  portions  of  the  additional  member  contributions required by paragraph one of this subdivision which are attributable  to credited CPP qualifying service rendered on and after the enactment date of  the age fifty-five improved benefit retirement program, and prior to the actual commencement of  deductions  from  compensation  pursuant  to subparagraph   (i)  of  this  paragraph,  by  a  person  who  becomes  a participant pursuant to paragraph one of subdivision b of this  section, shall  be  paid  by deductions from the compensation of such participant pursuant to and in accordance with the provisions of item  (B)  of  this subparagraph.  (B)  Commencing  with  the  payroll  period  in  which  deductions  of additional member contributions from such participant's compensation are begun pursuant to subparagraph (i) of this  paragraph,  in  addition  to such  deductions  required  by  such  subparagraph  (i),  there shall be another deduction of  additional  member  contributions  made  from  the compensation  of  such  participant  at one-third the applicable rate or rates at which deductions are being made pursuant to  such  subparagraph (i),  subject  to  the  applicable provisions of section 13-125.2 of the administrative code  or  subdivision  nineteen  of  section  twenty-five hundred  seventy-five  of  the  education law, on each and every payroll period until the total amount of unpaid additional member  contributions described  in  item  (A)  of this subparagraph, if any, has been paid by deductions from compensation pursuant to  this  subparagraph,  provided,  however,  that  deductions  pursuant to this item (B) shall be made only during the period  while  such  person  is  a  participant  after  first becoming  a  participant  pursuant  to paragraph one of subdivision b of this section and before ceasing to be such a participant.   4.  In addition to the member contributions required by section 13-125 or section 13-162 of the administrative code or section eight or  thirty of   the   BERS   rules  and  regulations,  and  the  additional  member contributions required pursuant to paragraph one  of  this  subdivision, each  participant  in  the  age  fifty-five  improved benefit retirement program who was not a member of either NYCERS or  BERS  on  July  first, nineteen  hundred  ninety-three  shall,  subject  to  the  provisions of paragraph two of this subdivision, make  retroactive  additional  member contributions to the retirement system of which he or she is a member in accordance with the following schedule:  (i)  each  such  participant  shall  contribute an additional four and thirty-five one-hundredths percent of his  or  her  compensation  earned from  all credited CPP qualifying service rendered prior to the starting date of the age fifty-five improved benefit retirement program  (whether or  not  rendered  in  a  physically  taxing position or a New York city eligible position); and  (ii) each such participant who was employed  in  a  physically  taxing position as defined in paragraph eleven of subdivision a of this section shall  contribute,  in  addition  to the additional member contributions required to be made at  the  percentage  of  compensation  specified  in subparagraph  (i)  of  this  paragraph  for  the credited CPP qualifying service specified in  such  subparagraph  (i),  an  additional  one  and ninety-eight  one-hundredths  percent  of his or her compensation earned from that portion of such credited  CPP  qualifying  service  which  was rendered  in  a physically taxing position prior to the starting date of the age fifty-five improved benefit retirement program.   5. (i)  Each  participant  in  the  age  fifty-five  improved  benefit retirement  program  shall  be  charged  with  a contribution deficiency consisting of:  (A) the total amounts of additional member contributions  such  person is  required to make pursuant to paragraph one of this subdivision which are not deducted from his or  her  compensation  pursuant  to  paragraph three  of  this  subdivision,  if  any,  together with interest thereon, compounded annually, and computed in accordance with the  provisions  of subparagraphs (ii), (iii) and (iv) of this paragraph; and  (B)  the  total amounts of retroactive additional member contributions such person is required to make  pursuant  to  paragraph  four  of  this subdivision,   if   any,  together  with  interest  thereon,  compounded annually,  and  computed  in   accordance   with   the   provisions   of subparagraphs (ii), (iii) and (iv) of this paragraph.  (ii)  (A) Subject to the provisions of subparagraphs (iii) and (iv) of this paragraph, the interest required to be paid  on  each  such  amount specified  in  items  (A)  and (B) of subparagraph (i) of this paragraph shall accrue from the end of the payroll period for  which  such  amount would  have  been  deducted  from  compensation  if he or she had been a participant at the beginning of that payroll period and  such  deduction had  been required for such payroll period, until such amount is paid to the retirement system.  (B) The rate of interest to be applied to each such amount during  the period  for  which interest accrues on that amount shall be equal to the rate or rates of interest required by law to be used  during  that  same period  to  credit  interest on the accumulated deductions of retirement system members.  (iii)  Except  as  otherwise  provided  in  paragraph  six   of   this subdivision,  no  interest  shall be due on any unpaid additional member contributions which are attributable to credited CPP qualifying  service rendered  on  or  after the starting date of the age fifty-five improved benefit  retirement  program, but prior to the enactment date of the age fifty-five improved benefit retirement program by a person who becomes a participant pursuant to paragraph one of subdivision b of this section.  (iv)  Except  as  otherwise  provided  in  paragraph   six   of   this subdivision,  no  interest  shall be due on any unpaid additional member contributions which are not attributable to a period prior to the  first full payroll period referred to in paragraph three of this subdivision.   6. (i) (A) Should any person who, pursuant to paragraph twelve of this subdivision, has received a refund of the employee portion of his or her additional  member contributions (as established in accordance with item (B) of subparagraph  (ii)  of  paragraph  seven  of  this  subdivision), including  any  interest  paid  on such employee portion, again become a participant in the age fifty-five improved  benefit  retirement  program pursuant  to  paragraph  five  of  subdivision  b  of  this  section, an appropriate amount shall be included in such participant's  contribution deficiency   (including  interest  thereon  as  calculated  pursuant  to subparagraph (ii) of this paragraph) for  any  credited  CPP  qualifying service for which such person received a refund of such employee portion of  additional  member  contributions (including any amount of an unpaid loan balance deemed to have been returned to  such  person  pursuant  to paragraph  fourteen of this subdivision), as if such employee portion of additional contributions never had been paid.  (B) Any person who has his or  her  membership  in  one  participating retirement   system  terminated  without  transferring  such  membership directly  from  such  participating  retirement  system  to  the   other participating  retirement system, who has an unpaid balance of a loan of the employee portion of  his  or  her  additional  member  contributions pursuant  to  paragraph  thirteen of this subdivision at the time of the termination of such membership,  who,  pursuant  to  paragraph  five  of subdivision b of this section, thereafter again becomes a participant in the  age  fifty-five  improved benefit retirement program as a member of either participating retirement system without having received a  refund of  the  employee  portion of his or her additional member contributions pursuant  to  paragraph  twelve  of  this  subdivision,  shall  have  an appropriate   amount   included   in   such  participant's  contribution deficiency (including interest thereon  as  calculated  in  subparagraph (ii)  of  this  paragraph)  for  any credited CPP qualifying service for which such person borrowed and did not repay such  employee  portion  of additional   member  contributions,  as  if  such  employee  portion  of additional member contributions never had been paid.  (ii)  (A)  Interest  on  the  employee  portion  of  a   participant's additional   member   contributions   included   in  such  participant's contribution deficiency pursuant to subparagraph (i) of  this  paragraph shall  be  calculated  as  if such employee portion of additional member contributions never had been paid by such participant, and such interest shall accrue from the end of the payroll period to which  an  amount  of such   employee   portion   of   additional   member   contributions  is attributable, compounded annually, until such  amount  is  paid  to  the retirement system.  (B)  The rate of interest to be applied to each such amount during the period for which interest accrues on that amount shall be equal  to  the rate  or  rates  of interest required by law to be used during that same period to credit interest on the accumulated  deductions  of  retirement system members.    7.   (i)   All   additional  member  contributions  required  by  this subdivision (and any interest paid thereon) which are  received  by  the retirement  system  of  which  the participant is a member shall be paid into its contingent reserve fund and shall not for any purpose be deemed to  be  member contributions or accumulated deductions of a member under section 13-125 or 13-162 of the administrative code or section eight  or thirty of the BERS rules and regulations or otherwise while he or she is a  participant in the age fifty-five improved benefit retirement program or otherwise.  (ii) All additional member contributions required for  any  period  of credited  CPP  qualifying  service  pursuant to paragraph one or four of this subdivision (and any interest paid thereon  pursuant  to  paragraph five  of  this  subdivision) which, pursuant to subparagraph (i) of this paragraph,  are  paid  by  a  participant,  subject  to  the  applicable provisions of section 13-125.2 of the administrative code or subdivision nineteen  of  section  twenty-five hundred seventy-five of the education law, into the contingent reserve fund of the retirement system of  which such  participant  is  a  member  (other  than  repayments  of  loans of additional member contributions pursuant to paragraph thirteen  of  this subdivision or amounts paid in satisfaction of a contribution deficiency calculated  in  accordance with paragraph six of this subdivision) shall be divided in the following manner:  (A) one-half of such additional member  contributions  (and  any  such interest  paid  thereon)  shall  be the employer contribution portion of such additional member contributions; and  (B) one-half of such additional member  contributions  (and  any  such interest  paid thereon) shall be the employee portion of such additional member contributions, and shall be credited to the  employee  additional contributions  account  which  shall be established for such participant within the contingent reserve fund of such retirement system.  (iii) No person, while he or she is a participant or otherwise,  shall at  any  time be permitted (A) to borrow, pursuant to paragraph thirteen of this  subdivision  or  any  other  provision,  any  of  the  employer contribution  portion  of his or her additional member contributions (as established in accordance with item (A) of  subparagraph  (ii)  of  this paragraph, including any interest paid thereon) which has been paid into the  contingent reserve fund of the retirement system; or (B) to receive a refund of any  of  such  employer  contribution  portion  pursuant  to paragraph twelve of this subdivision or any other provision.  (iv)  None  of  the  employer  contribution portion of a participant's additional member contributions (including any  interest  paid  thereon) shall  for  any purpose (A) be deemed to be part of the employee portion of additional member contributions paid by  a  participant;  or  (B)  be credited  to  the  employee additional contributions account established for such participant in the contingent reserve fund  of  the  retirement system.  (v)  All  repayments  of  loans  of the employee portion of additional member contributions pursuant to paragraph thirteen of this  subdivision and   all   payments  of  the  employee  portion  of  additional  member contributions in satisfaction of a contribution deficiency calculated in accordance with paragraph six of this subdivision which are  paid  by  a participant to the contingent reserve fund of a participating retirement system  (and  any  interest  paid thereon) shall be part of the employee portion of such participant's additional member contributions and  shall be credited to the employee additional contributions account established for  such  participant in the contingent reserve fund of such retirement system.    8. Where a person who was a participant in the age fifty-five improved benefit retirement program as a member of one  participating  retirement system becomes such a participant as a member of the other participating retirement system:  (i)  the  employer  contribution  portion  of  the  additional  member contributions paid by  such  person  to  such  first  retirement  system pursuant  to this subdivision (including any interest paid thereon) that is attributable  to  any  period  of  credited  CPP  qualifying  service obtained in such second retirement system by purchase or transfer, which previously was credited in such first retirement system, shall (only for purposes  of  this  subdivision,  and  not  for  purposes of determining required employer contributions to such  second  retirement  system)  be deemed to have been paid to such second retirement system rather than to such first retirement system; and  (ii)  the employee portion of the additional member contributions paid by such  person  to  such  first  retirement  system  pursuant  to  this subdivision (including any interest paid thereon) which remains credited to  the  employee  additional contributions account established for such person in the contingent reserve fund of such  first  retirement  system that  is  attributable  to any period of credited CPP qualifying service obtained in such second retirement system by purchase or transfer, which previously was credited in such first retirement system, shall (only for purposes of this  subdivision,  and  not  for  purposes  of  determining required  employer  contributions  to  such second retirement system) be deemed to have been paid to such second retirement system rather than to such first retirement system, and shall  be  credited  to  the  employee additional contributions account established for such participant in the contingent reserve fund of such second retirement system.   9.  A  person  who  was  a  participant in the age fifty-five improved benefit retirement program as a member of one  participating  retirement system,  who  becomes  such  a  participant  as  a  member  of the other participating retirement system and who thereafter transfers his or  her membership  in  such  first  retirement  system  directly to such second retirement system as such a participant shall be deemed to have the same unpaid balance of a loan of the employee portion  of  additional  member contributions   pursuant  to  paragraph  thirteen  of  this  subdivision (including accrued interest) as he or she had in such  first  retirement system  at  the  time  of  such  transfer  of  membership  to the second retirement system.   10.  Where  a  participant  who  is  otherwise  eligible  for  service retirement  pursuant  to subdivision c of this section did not, prior to the  effective  date  of  retirement,  pay  the  entire  amount   of   a contribution  deficiency chargeable to him or her pursuant to paragraphs five and six of this subdivision, or repay the entire amount of  a  loan of  the  employee  portion of his or her additional member contributions pursuant to paragraph thirteen of this  subdivision  (including  accrued interest  on  such  loan),  that  participant,  nevertheless,  shall  be eligible to retire pursuant to subdivision c of this section,  provided, however,  that where such participant is not entitled to a refund of the employee  portion  of  additional  member  contributions   pursuant   to subparagraph  (iii)  of  paragraph  twelve  of  this  subdivision,  such participant's service retirement  benefit  calculated  pursuant  to  the applicable  provisions  of  section 13-162 of the administrative code or section thirty of the BERS rules and regulations shall be reduced  by  a life  annuity  (calculated  in  accordance  with the method set forth in subdivision i of section six hundred thirteen-b of this  chapter)  which is actuarially equivalent to:  (i)  the  amount  of  any unpaid contribution deficiency chargeable to such member pursuant to paragraphs five and  six  of  this  subdivision; plus  (ii)  the  amount  of  any  unpaid  balance  of a loan of the employee portion of his  or  her  additional  member  contributions  pursuant  to paragraph  thirteen  of  this subdivision (including accrued interest on such loan).   11. The board of trustees of NYCERS and the retirement board  of  BERS may,  consistent  with  the  provisions  of this subdivision, promulgate regulations for the payment of additional member contributions  required by  this  subdivision,  and any interest thereon, by participants in the age  fifty-five  improved  benefit  retirement  program  (including  the deduction  of  such  contributions,  and  any interest thereon, from the participants' compensation).   12. (i) Subject to  the  provisions  of  paragraph  fourteen  of  this subdivision,  a  participant  in  the  age  fifty-five  improved benefit retirement program who retires for disability pursuant to section 13-167 or 13-168 of the administrative code or section fifteen or seventeen  of the  BERS rules and regulations shall be entitled, upon such retirement, to a refund of the employee portion of  his  or  her  additional  member contributions  paid pursuant to this subdivision (including any interest on such employee portion paid to the retirement  system)  which  remains credited  to  the  employee additional contributions account established for such person in the contingent reserve fund of the retirement  system of  which  he  or  she  is  a  member at the time of such retirement for disability, together with interest  thereon  at  the  rate  of  interest required  by  law  to  be  used  to  credit  interest on the accumulated deductions of retirement system members, compounded annually.  (ii)  Subject  to  the  provisions  of  paragraph  fourteen  of   this subdivision,  upon  the  death  of  a  participant in the age fifty-five improved benefit retirement program, there shall be paid to such  person as  he  or  she  has  nominated  or shall nominate to receive his or her accumulated deductions by written designation duly  executed  and  filed with  the retirement system during the lifetime of such participant, or, to his or her estate if  no  such  person  is  nominated,  the  employee portion  of  his or her additional member contributions paid pursuant to this subdivision (including any interest on such employee  portion  paid to  the  retirement  system)  which  remains  credited  to  the employee additional contributions account established  for  such  person  in  the contingent reserve fund of the retirement system of which he or she is a member  at  the time of his or her death, together with interest thereon at the rate of interest required by law to be used to credit interest on the accumulated deductions  of  retirement  system  members,  compounded annually.  (iii)  Subject  to  the  provisions  of  paragraph  fourteen  of  this subdivision, a person (A) who  is  or  was  a  participant  in  the  age fifty-five  improved  benefit  retirement  program;  (B) who retires for service as a member of NYCERS or BERS pursuant to the applicable service retirement provisions of the administrative code or the BERS  rules  and regulations;  (C)  who  is  in  active  service on the effective date of retirement; (D) who is at least sixty-two years of age on the  effective date  of retirement; and (E) who was in active service for a total of at least six months out of each of the two twelve-month periods immediately preceding his or her retirement for service, shall, upon such retirement for service, be entitled to a refund of the employee portion of  his  or her  additional  member  contributions paid pursuant to this subdivision (including any interest on such employee portion paid to the  retirement system)  which remains credited to the employee additional contributions  account established for such person in the contingent  reserve  fund  of the retirement system of which he or she is a member at the time of such retirement  for  service,  together with interest thereon at the rate of interest  required  by  law  to  be  used  to  credit  interest  on  the accumulated  deductions  of  retirement   system   members,   compounded annually.  (iv)   Subject  to  the  provisions  of  paragraph  fourteen  of  this subdivision, a person  who  ceases  to  be  a  participant  in  the  age fifty-five  improved  benefit  retirement  program  as  a  member  of  a participating retirement system because he or she ceases to hold  a  New York  city  eligible  position,  who  thereafter  is employed in another position in public employment which is not  a  New  York  city  eligible position, but which entitles such person to membership in another public retirement system which is maintained in whole or in part by the city or state of New York, and who thereafter transfers his or her membership in such  participating  retirement  system  directly  to such second public retirement system, shall be permitted to withdraw the  employee  portion of  his  or  her  additional  member contributions paid pursuant to this subdivision (including any interest on such employee portion paid to the retirement system) which remains credited  to  the  employee  additional contributions  account  established  for  such  person in the contingent reserve fund of such  participating  retirement  system,  together  with interest  thereon  at the rate of interest required by law to be used to credit interest on  the  accumulated  deductions  of  retirement  system members, compounded annually.  (v)   Subject   to  the  provisions  of  paragraph  fourteen  of  this subdivision, any person who  withdraws  as  a  participant  in  the  age fifty-five improved benefit retirement program by filing a valid request for  such withdrawal pursuant to subparagraph (ii) of paragraph three of subdivision b of this section shall, upon such withdrawal,  be  entitled to  a  refund  of  the  employee portion of his or her additional member contributions paid pursuant to this subdivision (including any  interest on  such  employee  portion paid to the retirement system) which remains credited to the employee additional  contributions  account  established for  such person in the contingent reserve fund of the retirement system of which he or she is a member at the  time  of  such  withdrawal  as  a participant,  together  with  interest  thereon  at the rate of interest required by law to  be  used  to  credit  interest  on  the  accumulated deductions of retirement system members, compounded annually.  (vi)   Subject  to  the  provisions  of  paragraph  fourteen  of  this subdivision, a  participant  in  the  age  fifty-five  improved  benefit retirement program who has been terminated from employment in a New York city  eligible  position  for  economic  reasons  by  his  or her public employer shall be entitled,  upon  such  termination,  to  withdraw  the employee  portion  of  his  or  her additional member contributions paid pursuant to this subdivision (including any interest  on  such  employee portion  paid  to  the  retirement system) which remains credited to the employee additional contributions account established for such person in the contingent reserve fund of the retirement system of which he or  she is  a  member  at the time of such termination from employment, together with interest thereon at the rate of interest required by law to be used to credit interest on the accumulated deductions  of  retirement  system members, compounded annually.  (vii)  Subject  to  the  provisions  of  paragraph  fourteen  of  this subdivision, a  participant  in  the  age  fifty-five  improved  benefit retirement program (A) who retires for service pursuant to paragraph two of  subdivision  c  of  this  section; (B) who is in active service as a participant in such program on the effective  date  of  retirement;  (C)  who,  on  the effective date of retirement, is at least fifty-five years of age, but less than sixty-two years of age; and (D) who was in  active service  as  a  participant  in such program for a total of at least six months out of each of the two twelve-month periods immediately preceding his  or  her  retirement  for  service,  shall, upon such retirement for service, be entitled to a refund of  only  that  part  of  the  employee portion  of  his or her additional member contributions paid pursuant to subparagraph (ii) of paragraph one of this subdivision and  subparagraph (ii)  of  paragraph  four of this subdivision (including any interest on such part of such employee portion paid to the retirement system)  which remains  credited  to  the  employee  additional  contributions  account established for such person  in  the  contingent  reserve  fund  of  the retirement  system  of  which  he or she is a member at the time of such retirement for service, together with interest thereon at  the  rate  of interest  required  by  law  to  be  used  to  credit  interest  on  the accumulated  deductions  of  retirement   system   members,   compounded annually,  and  shall  not  be  entitled  to a refund of any part of the employee portion of his or  her  additional  member  contributions  paid pursuant  to  subparagraph  (i)  of paragraph one of this subdivision or subparagraph (i) of paragraph four of this subdivision (or any  interest paid  on  such  part  of  such employee portion of his or her additional member contributions), or any part of the employer contribution  portion of  his  or  her  additional  member  contributions  (as  established in accordance with item (A) of subparagraph (ii) of paragraph seven of this subdivision) paid pursuant to subparagraph (i) or (ii) of paragraph  one of  this  subdivision  or  subparagraph (i) or (ii) of paragraph four of this subdivision (or any interest paid  on  such  employer  contribution portion of his or her additional member contributions).  (viii) Notwithstanding any other provision of law to the contrary, (A) no  person shall be permitted to withdraw from the retirement system any additional member contributions paid pursuant to this subdivision or any interest paid thereon, except pursuant to and  in  accordance  with  the preceding  subparagraphs  of this paragraph; and (B) no person, while he or  she  is  a  participant  in  the  age  fifty-five  improved  benefit retirement  program,  shall be permitted to withdraw any such additional member contributions or any interest paid thereon pursuant to any of the preceding subparagraphs of this  paragraph  or  otherwise;  and  (C)  no person, while he or she is a participant or otherwise, shall at any time be permitted to withdraw any of the employer contribution portion of his or  her  additional  member  contributions,  including any interest paid thereon (as established in accordance with item (A) of subparagraph (ii) of paragraph  seven  of  this  subdivision),  pursuant  to  any  of  the preceding subparagraphs of this paragraph or otherwise.   13.  A  participant  in the age fifty-five improved benefit retirement program shall be permitted to borrow from the employee portion of his or her additional member contributions (as established in  accordance  with item  (B)  of  subparagraph (ii) of paragraph seven of this subdivision, including any interest paid thereon) which is credited to  the  employee additional contributions account established for such participant in the contingent reserve fund of the retirement system of which he or she is a member.  The  borrowing  from such employee portion of additional member contributions pursuant to this paragraph shall be governed by  the  same rights,  privileges, obligations and procedures set forth in section six hundred thirteen-b of this chapter which govern the borrowing by members subject to article fifteen of this chapter of member contributions  made pursuant  to  section six hundred thirteen of this chapter. The board of trustees of NYCERS and the retirement board of BERS may, consistent with the provisions of this subdivision and the  provisions  of  section  six  hundred   thirteen-b   of  this  chapter  as  made  applicable  to  this subdivision, promulgate regulations  governing  the  borrowing  of  such employee  portion of additional member contributions, provided, however, that  no person, while he or she is a participant or otherwise, shall at any time be permitted to borrow, pursuant to this paragraph or any other provision, any of the  employer  contribution  portion  of  his  or  her additional member contributions, including any interest paid thereon (as established  in  accordance  with  item  (A)  of  subparagraph  (ii)  of paragraph seven of this subdivision).   14. Whenever a person has an unpaid balance of a loan of the  employee portion  of  his  or  her  additional  member  contributions pursuant to paragraph thirteen of this subdivision at the time  he  or  she  becomes entitled  to  a  refund of the employee portion of his or her additional member contributions pursuant to paragraph twelve of  this  subdivision, the  amount  of  such  unpaid  loan balance (including accrued interest) shall be deemed to have been returned to such member, and the refund  of such  employee portion shall be the net amount of such employee portion, together with interest thereon in  accordance  with  the  provisions  of paragraph twelve of this subdivision.   15.  Notwithstanding  any  other provision of law to the contrary, the provisions of section one hundred thirty-eight-b of this  chapter  shall not  be  applicable  to  the  additional  member contributions which are required by this subdivision.   16. Notwithstanding any other provision of law to  the  contrary,  the additional  member  contributions which are required by this subdivision shall not be reduced under any program for increased-take-home-pay.   17. The provisions of subdivision b of section four hundred  forty  of this article shall apply to participants under this section.   * NB There are 2 § 445-d's