NY Ret & SS L § 381-A (2021)
2021 New York Laws RSS - Retirement and Social Security Article 8 - New York State and Local Police and Fire Retirement System Title 10 - Special Retirement Plans Applicable to Specified Classes of Members 381-A - Retirement of Members or Officers of the State Police; New Plan.

§  381-a.  Retirement  of members or officers of the state police; new   plan. a. Every member or officer of the division of state police in  the   executive  department who enters or re-enters service in the division on   or after May first, nineteen hundred sixty-one shall contribute  to  the   police  and  fire  retirement  system in the manner provided for by this   section.b. Every member or officer of the division of state police who entered   such service prior to May first,  nineteen  hundred  sixty-one  and  who   contributed under former section eighty-one-a of this chapter, in effect   prior  to  April first, nineteen hundred sixty-seven shall contribute on   the basis provided for by this section.c. A member who elects or is required to contribute in accordance with   this  section,  shall  contribute,  in  lieu  of   the   proportion   of   compensation  as  provided  in  section three hundred twenty-one of this   article, a proportion of his or her compensation  similarly  determined.   Such latter proportion shall be computed to provide, at the time when he   or she shall first become eligible for retirement under this section, an   annuity  equal  to  one-one hundredth of his or her final average salary   for each year of service as a member of the state employees'  retirement   system  or  the  police  and fire retirement system rendered after April   sixteenth, nineteen hundred thirty-eight, and prior to the attainment of   the age when he or she shall first become eligible for retirement.  Such   member's  rate  of  contribution  pursuant  to  this  section  shall  be   appropriately reduced pursuant to section  three  hundred  seventy-a  of   this  article for such period of time as his or her employer contributes   pursuant           to           such           section            toward   pensions-providing-for-increased-take-home-pay.  No  such  member  shall   continue to make contributions after  completing  twenty-five  years  of   such service.d.  A  member contributing on the basis of this section at the time of   retirement,  shall  be  entitled  to  retire  after  the  completion  of   twenty-five  years of total creditable service in such division, or upon   the attainment of age sixty, by filing  an  application  therefor  in  a   manner similar to that provided in section three hundred seventy of this   article.1.  Upon  completion  of  twenty-five  years  of such service and upon   retirement, each such member shall receive  a  pension  which,  together   with  an  annuity  which  shall  be  the  actuarial  equivalent  of  his   accumulated  contributions  at  the  time  of  his  retirement  and   an   additional   pension   which   is   the   actuarial  equivalent  of  the   reserve-for-increased-take-home-pay to which he  may  then  be  entitled   shall  be sufficient to provide him with a retirement allowance equal to   one-half of his final average salary.2. Upon attainment of age sixty and upon retirement without completion   of twenty-five years of such service, each such member shall  receive  a   pension  which  together  with  an  annuity which shall be the actuarial   equivalent  of  his  accumulated  contributions  at  the  time  of   his   retirement  and  an additional pension which is the actuarial equivalent   of the reserve-for-increased-take-home-pay  to  which  he  may  then  be   entitled, shall be sufficient to provide him with a retirement allowance   equal  to  one-fiftieth  of  his  final  average salary for each year of   creditable service in such division. Every such  member  shall  also  be   entitled  to  an  additional  pension  equal  to  the  pension  for  any   creditable service rendered while not an employee  of  the  division  as   provided  under  paragraphs  three  and four of subdivision a of section   three hundred seventy-five of this article. This  latter  pension  shall   not  increase  the  total  allowance  to more than one-half of his final   average salary. For the purpose only of determining the amount of the pension provided   in this subdivision, the annuity shall be computed as it would be if  it   were  not  reduced  by the actuarial equivalent of any outstanding loan,   and if it  were  not  increased  by  the  actuarial  equivalent  of  any   additional  contributions,  and  if it were not reduced by reason of the   member's election to decrease his or her annuity  contributions  to  the   police  and  fire retirement system in order to apply the amount of such   reduction in payment  of  his  or  her  contributions  for  old-age  and   survivors insurance coverage.e.  The  increased pensions to members of the division, as provided by   this section, shall be paid from additional contributions  made  by  the   state  on  account  of  such members. The actuary of the police and fire   retirement system shall compute the additional contribution required for   each member who elects to receive the special  benefits  provided  under   this  section.  Such  additional  contributions shall be computed on the   basis of contributions during the prospective  service  of  such  member   which  will cover the liability of the police and fire retirement system   for  such  extra  pensions.  Upon  approval  by  the  comptroller,  such   additional  contributions  shall  be  certified  by  him  or  her to the   superintendent of state police. The amount thereof shall be included  in   the  annual appropriation of the state for the division of state police.   Such amount shall be paid on the  warrant  of  the  comptroller  to  the   pension accumulation fund of the police and fire retirement system.f. In computing the twenty-five years of completed service of a member   in  the division, full credit shall be given and full allowance shall be   made for service of such member in time of  war  and  service  with  the   American  expeditionary forces subsequent to November eleventh, nineteen   hundred  eighteen,  and  prior  to  June  thirtieth,  nineteen   hundred   nineteen,  of  honorably discharged officers, soldiers, sailors, marines   and army nurses, who were actual residents of the state at the  time  of   their  entry  into  the  military  service of the United States, and the   service of members of the national guard in the military service of  the   United  States  of  America  pursuant  to  the call of the president for   Mexican border service.g. The provisions of this section shall be controlling notwithstanding   any provision in this article to the contrary.