NY Ret & SS L § 375-B (2021)
2021 New York Laws RSS - Retirement and Social Security Article 8 - New York State and Local Police and Fire Retirement System Title 9 - General Provisions Relating to Retirement; Retirement Plans Applicable to Members Generally 375-B - Non-Contributory Retirement Plan for Members of Participating Employers.

§ 375-b. Non-contributory retirement plan for members of participating   employers.    a.  Notwithstanding  any  other  provision  of  law to the   contrary, no further contributions to the retirement system as  provided   in  subdivision  b  of section three hundred twenty-one of this chapter,   shall be required of any member in the employ of  such  a  participating   employer  electing  to  participate  pursuant  to the provisions of this   section; provided, however, in the  case  of  persons  who  last  became   members  on  or  after  July first, nineteen hundred seventy-three, such   required contributions shall be waived only  until  the  payroll  period   immediately  prior  to  that  the  first day of which is nearest to July   first, nineteen hundred seventy-four.b. 1. By the adoption,  filing  and  approval,  where  required  of  a   resolution  in  the  manner provided by sections three hundred thirty or   three hundred thirty-one  of  this  chapter,  as  the  case  may  be,  a   participating  employer who had previously elected to make contributions   under  the  provisions  of  subdivision  aa  of  section  three  hundred   seventy-a  of  this  chapter,  may  elect  to  make contributions to the   pension   accumulation   fund   for   the   purpose   of   providing   a   non-contributory retirement plan pursuant to this section.2.  By  the  adoption,  filing  and  approval,  where  required,  of a   resolution in the manner provided by sections three  hundred  thirty  or   three  hundred  thirty-one  of  this  chapter,  as  the  case  may be, a   participating employer who had  not  previously  elected  to  contribute   under  the  provisions  of  subdivision  aa  of  section  three  hundred   seventy-a of this chapter,  may  elect  to  make  contributions  to  the   pension   accumulation   fund   for   the   purpose   of   providing   a   non-contributory  retirement  plan  pursuant  to  this   section.   Such   resolution shall specify the first payroll period after the date of such   filing  for  which no further contributions shall be required of members   in its employ.c. Contributions shall be made to the pension accumulation fund by  or   on account of each participating employer, as provided in sections three   hundred  sixteen, three hundred seventeen and three hundred forty-two of   this chapter, at a rate fixed by the actuary which shall be computed  to   be  sufficient  to  provide  the  benefits  established by section three   hundred seventy-five-c of this chapter on  account  of  members  in  the   employ of such participating employers.d.  Nothing  contained  in  this  section  shall  impair  the right of   persons, who became members before August nineteenth,  nineteen  hundred   sixty-six,  to  make  contributions pursuant to subdivision i of section   three hundred twenty-one of this chapter.e. Any member who has elected to  contribute  at  a  certain  rate  of   contribution  in  accordance  with  the  provisions  of subdivision j of   section three hundred twenty-one of  this  chapter,  shall  continue  to   contribute  at  such  rate  until his election under said subdivision is   withdrawn.f. Any member  in  service  on  August  nineteenth,  nineteen  hundred   sixty-six,  may  by  written notice duly acknowledged and filed with the   comptroller  on  or   before   August   eighteenth,   nineteen   hundred   sixty-seven,  elect  to  contribute  to  the  retirement system. Where a   member makes an election to contribute, as herein provided for, he shall   contribute to the  retirement  system  as  otherwise  provided  in  this   chapter.  One year or more after the filing of the notice of election to   contribute, the member may withdraw  such  election  and  elect  not  to   contribute.