NY Ret & SS L § 604-E (2021)
2021 New York Laws RSS - Retirement and Social Security Article 15 - Coordinated Retirement Plan 604-E - Twenty-Five Year Retirement Program for Dispatcher Members.

* § 604-e. Twenty-five year retirement program for dispatcher 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.  "Dispatcher member" shall mean a member (as defined in subdivision e of section six hundred one of this article) who  is  employed  by  the city  of  New  York as a fire alarm dispatcher, a supervising fire alarm dispatcher, level one, a supervising fire alarm dispatcher,  level  two, director   of  dispatch  operations,  or  deputy  director  of  dispatch operations.   2. "Twenty-five year retirement program" shall mean all the terms  and conditions of this section.   3.  "Starting  date  of the twenty-five year retirement program" shall mean that date of enactment of this section.   4. "Participant in the twenty-five year retirement program" shall mean any  dispatcher  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  twenty-five  year retirement program, as applicable to him or her.   5.  "Discontinued  member" shall mean a participant in the twenty-five year retirement program who, while he or she was  a  dispatcher  member, discontinued  service  as  such  a  member and has a right to a deferred vested benefit under subdivision d of this section.   6. "Administrative code" shall mean the  administrative  code  of  the city of New York.   7.  "Allowable  service as a dispatcher member" shall mean (i) service as a dispatcher member and all service in the  following  civil  service titles:   chief   fire   alarm  dispatcher,  administrative  fire  alarm dispatcher,  bus  operator  (transit),   train   dispatcher   (transit), firefighter, police officer, correction officer, fire marshal, probation officer,    police   communications   technician,   supervising   police communications technician, principal police  communications  technician, police administrative aide, senior police administrative aide, emergency medical  technician,  advanced  emergency  medical technician, emergency medical service specialist level I, emergency medical  specialist  level II,  fire  prevention  inspector, fire protection inspector, senior fire prevention inspector, principal  fire  prevention  inspector,  associate fire protection inspector, county detective, detective (NYPD), detective investigator,  senior  detective  investigator,  deputy  sheriff, senior deputy sheriff, inspector of fire alarm  boxes,  radio  operator,  radio repair  technician,  supervisor  of  radio  repair  operations, taxi and limousine inspector, senior taxi  and  limousine  inspector,  triborough bridge  and  tunnel  officer; and (ii) a member of the retirement system who is employed by the city of New York in a title whose duties  require the  supervision  of  employees whose civil service title is included in subparagraph (i) of this paragraph.   b. Participation in twenty-five year retirement program. 1. Subject to the provisions of paragraphs six and  seven  of  this  subdivision,  any person  who  is  a  dispatcher  member  on  the  starting  date  of  the twenty-five year retirement program and who, as such a dispatcher member or otherwise, last became subject to  the  provisions  of  this  article prior  to  such  starting date, may elect to become a participant in the twenty-five year retirement program by filing, within one hundred eighty days after the starting date of the twenty-five year retirement program, a duly executed application for such participation with  the  retirement system  of  which  such person is a member, provided he or she is such a dispatcher member on the date such application is filed.    2. Subject to the provisions of  paragraphs  six  and  seven  of  this subdivision,  any  person  who  becomes  a  dispatcher  member after the starting date of the twenty-five year retirement  program  and  who,  as such  a  dispatcher  member  or  otherwise,  last  became subject to the provisions  of  this  article  prior to such starting date, may elect to become a participant in  the  twenty-five  year  retirement  program  by filing,  within one hundred eighty days after becoming such a dispatcher member, a duly executed application  for  such  participation  with  the retirement  system for which such person is a member, provided he or she is such a dispatcher member on the date such application is filed.   3. Each dispatcher member, other than a dispatcher member  subject  to paragraph  one  or  two  of this subdivision, who becomes subject to the provisions of this  article  on  or  after  the  starting  date  of  the twenty-five  year  retirement  program shall become a participant in the twenty-five year retirement program on the date he or she becomes such a dispatcher  member.  Provided,  however,  a  person  subject   to   this paragraph,  and  who  has  exceeded  age  thirty  upon  employment  as a dispatcher member, shall be exempt from participation  in  the  improved twenty-five  year  retirement  program  if  such  person  elects  not to participate by filing a duly executed form with  the  retirement  system within one hundred eighty days of becoming a dispatcher member.   4. Any election to be a participant in the twenty-five year retirement program shall be irrevocable.   5.  Where  any  participant in the twenty-five year retirement program shall cease to be employed by the city  of  New  York  as  a  dispatcher member,  he  or she shall cease to be such a participant and, during any period in which such person is not so employed, he or she shall not be a participant in the twenty-five year retirement program and shall not  be eligible for the benefits of subdivision c of this section.   6.  Where  any  participant in the twenty-five year retirement program terminates service as a dispatcher member and returns to such service as a dispatcher member at a later date, he or she shall again become such a participant on that date.   7. Notwithstanding any other provision of law  to  the  contrary,  any person  who  is  eligible  to  elect  to  become  a  participant  in the twenty-five year retirement program pursuant to paragraph one or two  of this subdivision for the full one hundred eighty day period provided for in  such  applicable  paragraph  and  who  fails  to  timely file a duly executed application for such participation with the retirement  system, shall  not  thereafter  be  eligible  to  become  a  participant in such program.   c. Service retirement benefits. 1. A participant  in  the  twenty-five year retirement program:  (i)  who  has completed twenty-five or more years of allowable service as a dispatcher member; and  (ii) who has paid,  before  the  effective  date  of  retirement,  all additional  member  contributions  and  interest  (if  any)  required by subdivision e of this section; and  (iii) who files with the retirement system of which he  or  she  is  a member an application for service retirement setting forth at what time, not  less  than  thirty  days  subsequent  to  the  execution and filing thereof, he or she desires to be retired; and  (iv) who shall be a participant in  the  twenty-five  year  retirement program  at  the  time  so specified for his or her retirement; shall be retired pursuant to the  provisions  of  this  section  affording  early service retirement.   2.  Notwithstanding  any  other  provision of law to the contrary, and subject to the provisions of paragraph six  of  subdivision  e  of  this  section,  the  early  service retirement benefit for participants in the twenty-five year retirement program who retire pursuant to paragraph one of this subdivision shall be a retirement allowance consisting of:   an amount, on account of the required minimum period of service, equal to fifty percent of his or her final average salary; plus   an  amount  on account of allowable service as a dispatcher member, or fraction thereof, beyond such required minimum period of  service  equal to  two percent of his or her final salary for such allowable service as a dispatcher member during the period  from  completion  of  twenty-five years  of  allowable  service  as  a  dispatcher  member  to the date of retirement but not to exceed more than five years of additional  service as a dispatcher member.   d.  Vesting.  1.  A  participant  in  the  twenty-five year retirement program:  (i) who discontinues service as such  a  participant,  other  than  by death or retirement; and  (ii)  in  the case of a participant who is not a New York city revised plan member, who prior to such discontinuance, completed five  but  less than  twenty-five  years of allowable service as a dispatcher member or, in the case of a participant who is a New York city revised plan member, who  prior  to  such  discontinuance,  completed  ten  but   less   than twenty-five years of allowable service as a dispatcher member; and  (iii) who, subject to the provisions of paragraph seven of subdivision e  of  this  section,  has  paid,  prior  to  such  discontinuance,  all additional member  contributions  and  interest  (if  any)  required  by subdivision e of this section; and  (iv)  who does not withdraw in whole or in part his or her accumulated member contributions pursuant to section six hundred  thirteen  of  this article unless such participant thereafter returns to public service and repays  the  amounts  so  withdrawn, together with interest, pursuant to such section six hundred  thirteen;  shall  be  entitled  to  receive  a deferred vested benefit as provided in this subdivision.   2. (i) Upon such discontinuance under the conditions and in compliance with  the provisions of paragraph one of this subdivision, such deferred vested benefit shall vest automatically.  (ii) In the case of a participant who is not a New York  city  revised plan  member,  such  vested benefit shall become payable on the earliest date on which such discontinued member could have retired for service if such discontinuance had not occurred or, in the case  of  a  participant who  is  a  New York city revised plan member, such vested benefit shall become payable at age sixty-three.   3. Subject to the provisions of paragraph seven of  subdivision  e  of this  section,  such  deferred  vested  benefit  shall  be  a retirement allowance  consisting  of  an  amount  equal  to  two  percent  of  such discontinued  member's final average salary, multiplied by the number of years of allowable service as a dispatcher member.   e. Additional member contributions.  1.  In  addition  to  the  member contributions  required by section six hundred thirteen of this article, each participant  in  the  twenty-five  year  retirement  program  shall contribute  to  the  retirement  system  of  which he or she is a member (subject to the applicable provisions of subdivision d  of  section  six hundred  thirteen  of  this article) an additional six percent of his or her compensation earned from (i) all allowable service, as a participant in the twenty-five year retirement program, rendered  on  or  after  the starting  date  of the twenty-five year retirement program, and (ii) all allowable service after such person ceases  to  be  a  participant,  but before  he  or she again becomes a participant pursuant to paragraph six of subdivision b of this section. The additional contributions  required  by  this subdivision shall be in lieu of additional member contributions required by subdivision (d)  of  section  six  hundred  four-c  of  this chapter  as  added by chapter ninety-six of the laws of nineteen hundred ninety-five,  and  no member making additional contributions pursuant to this section shall be required to make contributions  pursuant  to  such subdivision (d) of section six hundred four-c of this chapter.   2.  A  participant  in  the  twenty-five year retirement program shall contribute additional member contributions until the later  of  (i)  the first   anniversary  of  the  starting  date  of  the  twenty-five  year retirement program, or (ii) the date on which he or she completes thirty years of allowable service as a dispatcher member.   3. Commencing with the first full payroll  period  after  each  person becomes  a  participant  in  the  twenty-five  year  retirement program, additional member contributions at the rate specified in  paragraph  one of  this  subdivision  shall  be  deducted  (subject  to  the applicable provisions of subdivision d of section  six  hundred  thirteen  of  this article)  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.   4.  (i)  Each  participant  in the twenty-five year retirement program shall be charged with a contribution deficiency consisting of the  total amounts  of  additional  member contributions such person is required to make pursuant to paragraphs one and two 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) and (iii) of this paragraph.  (ii)  (A)  The  interest  required  to  be  paid  on  each such amount specified in 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  five  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.   5. (i) Should  any  person  who,  pursuant  to  subparagraph  (ii)  of paragraph  ten  of this subdivision, has received a refund of his or her additional member contribution  including  any  interest  paid  on  such contributions,  again  become  a  participant  in  the  twenty-five year retirement program pursuant to paragraph six 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 service for which such person  received  a  refund  of  such  additional member  contributions  (including  any  amount of an unpaid loan balance deemed to have been returned to such person pursuant to paragraph twelve of this subdivision), as if such additional member  contributions  never had been paid.  (ii)  (A)  Interest on 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  additional member contributions had never been paid by such participant, and such interest shall accrue from the end of  the  payroll  period  to which an amount of such additional member contributions is attributable, 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  five  percent per annum, compounded annually.   6.   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 four  and five of this subdivision, or repay the entire amount of a loan of his or her additional  member  contributions  pursuant  to  paragraph eleven  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  such participant's  service  retirement  benefit   calculated   pursuant   to paragraph  two  of such subdivision c 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 article) which is actuarially equivalent to:  (i) The amount of any unpaid  contribution  deficiency  chargeable  to such  member  pursuant  to paragraphs four and five of this subdivision; plus  (ii) the amount of any  unpaid  balance  of  a  loan  of  his  or  her additional  member  contributions  pursuant  to paragraph eleven of this subdivision (including accrued interest on such loan).   7. Where a participant who is otherwise eligible for a vested right to a deferred benefit pursuant to subdivision d of this  section  did  not, prior to the date of discontinuance of service, pay the entire amount of a   contribution  deficiency  chargeable  to  him  or  her  pursuant  to paragraphs four and five of this subdivision, or repay the entire amount of a loan of his or her  additional  member  contributions  pursuant  to paragraph eleven of this subdivision (including accrued interest on such loan),  that  participant,  nevertheless, shall be eligible for a vested right to a deferred benefit pursuant to subdivision d of  this  section, provided,  however, that the deferred vested benefit calculated pursuant to paragraph three of such subdivision d 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  article)  which is actuarially equivalent to:  (i)  the  amount  of  any unpaid contribution deficiency chargeable to such member pursuant to paragraphs four and five  of  this  subdivision; plus  (ii)  the  amount  of  any  unpaid  balance  of  a  loan of his or her additional member contributions pursuant to  paragraph  eleven  of  this subdivision (including accrued interest on such loan).   8.  The head of a retirement system which includes participants in the twenty-five year retirement program in its  membership  may,  consistent with  the provisions of this subdivision, promulgate regulations for the payment of  such  additional  member  contributions,  and  any  interest thereon,   by   such  participants  (including  the  deduction  of  such contributions,  and  any  interest  thereon,  from   the   participant's compensation).   9.  Subject  to  the  provisions  of  paragraphs six and seven of this subdivision, where a participant has not paid in full  any  contribution deficiency chargeable to him or her pursuant to paragraphs four and five of  this  subdivision,  and  a  benefit,  other  than a refund of member  contributions pursuant to section six hundred thirteen of  this  article or  a refund of additional member contributions pursuant to subparagraph (ii) of paragraph ten of this subdivision, becomes  payable  under  this article  to  the  participant or to his or her designated beneficiary or estate, the actuarial equivalent of any  such  unpaid  amount  shall  be deducted from the benefit otherwise payable.   10.  (i)  Such  additional  member  contributions  (and  any  interest thereon)  shall  be  paid  into  the  contingent  reserve  fund  of  the retirement system of which the participant is a member and shall not for any  purpose  be  deemed  to  be  member  contributions  or  accumulated contributions of a member under section six  hundred  thirteen  of  this article or otherwise while he or she is a participant in the twenty-five year  retirement  program  or  otherwise, except that, a surplus of such additional member  contributions  that  are  paid  into  the  retirement system's  contingent  reserve  fund  may be used for the sole purpose of offsetting a deficit of basic member contributions.  (ii) Should a participant in the twenty-five year  retirement  program who  has  rendered  less than fifteen years of credited service cease to hold a position as a dispatcher member for any reason whatsoever, his or her accumulated additional member contributions made  pursuant  to  this subdivision  (together  with any interest thereon paid to the retirement system)  may  be  withdrawn  by  him  or  her  pursuant  to   procedures promulgated  in  regulations  of the board of trustees of the retirement system, together with interest thereon at the rate of five  percent  per annum, compounded annually.  (iii)  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 twenty-five year 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.   11. A participant in the twenty-five year retirement program shall  be permitted  to  borrow  from  his  or her additional member contributions (including  any  interest  paid  thereon)  which  are  credited  to  the additional contributions account established for such participant in the contingent  reserve  fund  of  the retirement system. The borrowing from such additional member contributions pursuant to this paragraph shall be governed by the rights, privileges, obligations and procedures set forth in section six hundred thirteen-b  of  this  article  which  govern  the borrowing  of  member contributions made pursuant to section six hundred thirteen of this article. The board of trustees of the retirement system may,  consistent  with  the  provisions  of  this  subdivision  and  the provisions  of  section  six  hundred thirteen-b of this article as made applicable to this subdivision,  promulgate  regulations  governing  the borrowing of such additional member contributions.   12.  Whenever  a  person has an unpaid balance of a loan of his or her additional member contributions pursuant to  paragraph  eleven  of  this subdivision at the time he or she becomes entitled to a refund of his or her  additional  member  contributions  pursuant to subparagraph (ii) of paragraph ten 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 additional contributions shall be the net amount of such contributions,  together  with  interest thereon in accordance with the provisions of such subparagraph (ii).   * NB There are 2 § 604-e's