NY Gen Mun L § 207-L (2021)
2021 New York Laws GMU - General Municipal Article 10 - Firefighters and Police Officers 207-L - Temporary Supplemental Retirement Allowances for Certain Police Officers in Towns and Villages.

§  207-l.  Temporary  supplemental  retirement  allowances for certain   police officers in towns and villages. Notwithstanding the provisions of   any general, special or local law, charter or administrative code to the   contrary, a supplemental retirement allowance may be paid to  pensioners   of  a pension or retirement system of a paid police department of a town   or village who have retired prior to the calendar year nineteen  hundred   seventy.  Such supplemental retirement allowance shall be payable on the   basis provided for herein, commencing with a payment for  the  month  of   October,  nineteen  hundred seventy-one and continuing through the month   of September, nineteen hundred seventy-three.a. The supplemental retirement allowance provided for herein shall  be   a  percentage  of  the  retirement  allowance  computed without optional   modification and shall be determined on the basis of the consumer  price   index  (all  items--United States city average), published by the United   States Bureau of Labor Statistics. Said percentage shall  be  determined   in  the  manner  set forth in this section. Said supplemental retirement   allowance shall be computed on the basis of  the  first  eight  thousand   dollars  of  such  annual  retirement  allowance  and  shall  be payable   commencing  October  first,  nineteen  hundred   seventy-one,   to   all   disability  pensioners,  and  to  other pensioners who have attained age   sixty-two  on  or   before   September   thirtieth,   nineteen   hundred   seventy-one,   and   commencing   on   April   first,  nineteen  hundred   seventy-two, to such  other  pensioners  who  shall  have  attained  age   sixty-two on or after October first, nineteen hundred seventy-one and on   or before September thirtieth, nineteen hundred seventy-two.b.  The  percentage  referred  to  in  subdivision  a  hereof shall be   determined from the ratio of two indexes, in the following  manner.  The   average  of  the  twelve  monthly consumer price indexes of the calendar   year nineteen hundred sixty-nine, divided by the average of  the  twelve   monthly  consumer price indexes of the calendar year of retirement shall   be the ratio of the indexes. Said ratio, minus one, shall  be  expressed   as  a percentage and shall be adjusted to the lower one-tenth of one per   centum.  Such  adjusted  percentage  shall  be  the  percentage  of  the   applicable   portion  of  the  retirement  allowance,  computed  without   optional  modification  which  shall  be  payable  as   a   supplemental   retirement  allowance.  However,  no such supplement shall be paid where   such percentage is less than  three  per  centum.  Such  percentage  for   pensioners   who   retired   prior  to  April  first,  nineteen  hundred   fifty-eight shall be increased by  sixty  per  centum  thereof  and  the   adjusted  percentage shall be further adjusted to the lower one-tenth of   one per centum. Such percentage shall be computed by  the  actuary  each   year   and  certified  to  the  comptroller  who  shall,  by  directive,   promulgate a schedule of percentages to be used for this purpose.c. The supplemental retirement allowance shall be rounded off  to  the   nearest dollar.d.  The  benefits  hereinabove  provided  for  shall be in lieu of the   benefits presently provided by any other general, special or  local  law   unless such benefits are in excess of those provided by this section, in   which  latter  case such benefits shall be paid by the retirement system   pursuant to this section.e. Contributions shall be made to such pension accumulation  fund  by,   or  on account of, the municipality at a rate fixed by the actuary or if   there be no actuary then by the  fiscal  officer  of  the  municipality,   which  shall  be  computed  to  be  sufficient  to  provide the benefits   established by this section which are payable during the period of  time   that this section shall be in effect.f. Nothing herein contained shall be deemed to apply to members of the   state employees' retirement system.