2023 New York Laws › RSS - Retirement and Social Security › Article 11 - Limitations Applicable to New Entrants › 445-E*2 - Optional Twenty-Five Year Improved Benefit Retirement Program for EMT Members.

* §  445-e.  Optional  twenty-five  year  improved  benefit retirement
program for EMT 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.  "Retirement  system"  shall  mean  the  New  York  city employees'
retirement system.
2. "EMT member" shall mean a member of the retirement  system  who  is
employed  by  the  city  of  New York or by the New York city health and
hospitals corporation in a title whose duties are those of an  emergency
medical  technician  or  advanced emergency medical technician (as those
terms are defined in section three thousand one  of  the  public  health
law),  or  in  a title whose duties require the supervision of employees
whose duties are those of an emergency medical  technician  or  advanced
emergency  medical  technician  (as  those  terms are defined in section
three thousand one of the public health law).
3. "Twenty-five year improved benefit retirement program"  shall  mean
all the terms and conditions of this section.
4.  "Starting date of the twenty-five year improved benefit retirement
program" shall mean the date of enactment of this section.
5. "Participant in the twenty-five year  improved  benefit  retirement
program"  shall mean any EMT 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
improved benefit retirement program, as applicable to him or her.
6.  "Administrative  code"  shall  mean the administrative code of the
city of New York.
7. "Accumulated  deductions"  shall  mean  accumulated  deductions  as
defined  in  subdivision  eleven of section 13-101 of the administrative
code of the city of New York.
8. "Optional retirement provisions" shall mean the right to retire and
receive a retirement allowance under this section upon the completion of
twenty-five years of allowable service as an EMT member.
9. "Allowable service as an EMT member" shall mean (i) all service  as
an  EMT  member;  and (ii) all service while employed by the city of New
York or by the New York city health and  hospitals  corporation  in  the
title motor vehicle operator.
b.  Election  of twenty-five year improved benefit retirement program.
1.   Subject to the provisions  of  paragraphs  five  and  six  of  this
subdivision, any person who is an EMT member on the starting date of the
twenty-five year improved benefit retirement program may elect to become
a  participant  in  the  twenty-five  year  improved  benefit retirement
program by filing, within one hundred eighty days  after  such  starting
date,  a  duly  executed  application  for  such  participation with the
retirement system, provided he or she is such an EMT member on the  date
such application is filed.
2.  Subject  to  the  provisions  of  paragraphs  five and six of this
subdivision, any person who becomes an EMT  member  after  the  starting
date  of  the  twenty-five  year improved benefit retirement program may
elect to become a participant in the twenty-five year  improved  benefit
retirement  program  by  filing,  within  one  hundred eighty days after
becoming such an EMT  member,  a  duly  executed  application  for  such
participation  with the retirement system, provided he or she is such an
EMT member on the date such application is filed.
3. Any election to be a participant in the twenty-five  year  improved
benefit retirement program shall be irrevocable.
4.  Where  any  participant  in  the twenty-five year improved benefit
retirement program shall cease to hold a position as an EMT  member,  he
or  she  shall  cease to be such a participant and, during any period in

which such a person does not hold such an EMT position, he or she  shall
not be a participant in the twenty-five year improved benefit retirement
program  and  shall not be eligible for the benefits of subdivision c of
this section.
5.  Where  any  participant  in  the twenty-five year improved benefit
retirement program terminates service as an EMT member  and  returns  to
such  service  as  an  EMT member at a later date, he or she shall again
become such a participant on that date.
6. Notwithstanding any other provision of law  to  the  contrary,  any
person  who  is eligible to become a participant in the twenty-five year
improved benefit 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. Notwithstanding any other provision of
law to the  contrary,  where  a  participant  in  the  twenty-five  year
improved  benefit  retirement  program, who is otherwise qualified for a
retirement allowance pursuant to the optional retirement provisions  set
forth  in  subdivision a of this section, has made and/or paid, while he
or she is  an  EMT  member,  all  additional  member  contributions  and
interest (if any) required by subdivision d of this section, then:
1.  that participant, while he or she remains a participant, shall not
be subject to the provisions of subdivision a of  section  four  hundred
forty-five of this article; and
2. if that participant, while such a participant, retires for service,
he or she shall not be subject to the provisions of section four hundred
forty-four of this article; and
3.  his  or her retirement allowance shall be an amount, on account of
the required minimum period of service, equal  to  the  sum  of  (i)  an
annuity  which  shall  be  the  actuarial  equivalent of the accumulated
deductions for his or her pay during such period,  (ii)  a  pension  for
increased-take-home-pay  which  shall be the actuarial equivalent of the
reserve for increased-take-home-pay to which he or she may  be  entitled
for  such  period, and (iii) a pension which, when added to such annuity
and such pension  for  increased-take-home-pay,  produces  a  retirement
allowance  equal  to  fifty  percent of his or her final average salary,
plus an amount for each additional year of allowable service as  an  EMT
member,  or  fraction  thereof,  beyond  such required minimum period of
service equal to two percent of his or her final average salary for such
allowable service as an EMT member during the period from completion  of
twenty-five  years  of allowable service as an EMT member to the date of
retirement but not to exceed more than five years of additional  service
as an EMT member.
d.  Additional  member  contributions.  1.  In  addition to the member
contributions required pursuant to  section  13-125  or  13-162  of  the
administrative  code  of  the  city of New York, each participant in the
twenty-five year improved benefit retirement program  shall  contribute,
subject  to  the  applicable  provisions  of  section  13-125.2  of  the
administrative code of the city of  New  York,  an  additional  six  and
twenty-five  one-hundredths  percent  of  his or her compensation earned
from all allowable service as an EMT member, as  a  participant  in  the
twenty-five  year  improved  benefit retirement program, rendered on and
after the starting date of the improved benefit retirement program,  and
all  allowable service as an EMT member after such person ceases to be a
participant, but before he or she again becomes a  participant  pursuant
to paragraph five of subdivision b of this section. A participant in the

twenty-five  year  improved  benefit retirement program shall contribute
additional member contributions until the later of the date as of  which
he  or  she is eligible to retire with thirty years of allowable service
as an EMT member under such retirement program, or the first anniversary
of the starting date of the twenty-five year improved benefit retirement
program.  The  additional contributions required by this paragraph shall
be in lieu of additional member contributions required by subdivision  d
of  section  four  hundred  forty-five-d  of  this  chapter, as added by
chapter ninety-six of the laws of nineteen hundred ninety-five,  and  no
member paying additional contributions pursuant to this section shall be
required  to pay additional contributions pursuant to such subdivision d
of section four hundred forty-five-d of this chapter.
2. Commencing with the first full payroll  period  after  each  person
becomes   a   participant  in  the  twenty-five  year  improved  benefit
retirement  program,  additional  member  contributions  at   the   rate
specified  in  paragraph  one  of  this  subdivision  shall be deducted,
subject  to  the  applicable  provisions  of  section  13-125.2  of  the
administrative  code  of  the city of New York, 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.
3.  (i)  Subject  to  the  provisions  of  subparagraph  (ii)  of this
paragraph,  where  any  additional  member  contributions  required   by
paragraph  one  of  this  subdivision  are not paid by deductions from a
participant's  compensation  pursuant   to   paragraph   two   of   this
subdivision:
(A)  that  participant shall be charged with a contribution deficiency
consisting of such  unpaid  amounts,  together  with  interest  thereon,
compounded annually; and
(B)  such  interest  on  each amount of undeducted contributions 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 deductions had been
required for such payroll period  until  such  amount  is  paid  to  the
retirement system; and
(C)  (1)  interest  on each such amount included in such participant's
contribution  deficiency  pursuant  to  this   subparagraph   shall   be
calculated  as  if  such  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  additional  member
contributions is attributable, compounded annually, until such amount is
paid to the retirement system.
(2)  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.
(ii)  Except  as  provided in subparagraph (iii) of this paragraph, no
interest shall be due on any unpaid additional contributions  which  are
not  attributable  to  the period prior to the first full payroll period
referred to in paragraph two of this subdivision.
(iii) Should any person who,  pursuant  to  paragraph  seven  of  this
subdivision,  has withdrawn any additional member contributions (and any
interest paid thereon) again become a  participant  in  the  twenty-five
year  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  this  paragraph)  for  any  credited
service  with  respect  to  which  such  person  received  a  refund  of

additional member contributions (including any amount of an unpaid  loan
balance  deemed  to  have  been  returned  to  such  person  pursuant to
paragraph seven of this  subdivision),  as  if  such  additional  member
contributions never had been paid.
4. The board of trustees of the retirement system may, consistent with
the  provisions  of  this  subdivision,  promulgate  regulations for the
payment  of  the  additional  member  contributions  required  by   this
subdivision,   and  any  interest  thereon,  by  a  participant  in  the
twenty-five year improved  benefit  retirement  program  (including  the
deduction  of  such contributions, and any interest thereon, from his or
her compensation).
5.  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 paragraph
three of this subdivision, or repay the entire amount of a loan  of  his
or  her  additional  member contributions pursuant to paragraph eight 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  additional  member
contributions pursuant to paragraph  seven  of  this  subdivision,  such
participant's  service  retirement  benefit  calculated  pursuant to the
applicable provisions of subdivision c of this section 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 paragraph three of this subdivision; plus
(ii)  the  amount  of  any  unpaid  balance  of  a  loan of his or her
additional member contributions pursuant  to  paragraph  eight  of  this
subdivision (including accrued interest on such loan).
6.  Subject  to  the provisions of paragraph five of this subdivision,
where a participant has not paid in  full  any  contribution  deficiency
chargeable   to   him  or  her  pursuant  to  paragraph  three  of  this
subdivision,  and  a  benefit,  other  than  a  refund  of  a   member's
accumulated  deductions  or  a refund of additional member contributions
pursuant to paragraph seven of this subdivision, becomes payable by  the
retirement  system  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.
7.   (i)   All   additional  member  contributions  required  by  this
subdivision (and  any  interest  thereon)  which  are  received  by  the
retirement  system  shall  be  paid into its contingent reserve fund and
shall be the property of the retirement system. Such  additional  member
contributions  (and  any  interest thereon) shall not for any purpose be
deemed to be member contributions or accumulated deductions of a  member
of  the  retirement  system  under  section  13-125  or  13-162  of  the
administrative code of the city of  New  York  while  he  or  she  is  a
participant  in the twenty-five year improved benefit retirement program
or otherwise.
(ii) Should a participant in the  twenty-five  year  improved  benefit
retirement program, who has rendered less than fifteen years of credited
service  cease  to  hold  a  position  as  an  EMT 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)  which  remain  credited  to such participant's
account  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 interest  required
by  law  to  be used to credit interest on the accumulated deductions of
retirement system members 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 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.
8.  A  participant in the twenty-five year improved benefit 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  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 the retirement system
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 additional member contributions.
9. Wherever a person has an unpaid balance of a loan  of  his  or  her
additional  member  contributions  pursuant  to  paragraph eight 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  seven  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.
10. 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.
11.  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.
e.  The  provisions  of this section shall not be construed to provide
benefits to any participant in the  twenty-five  year  improved  benefit
retirement  program which are greater than those which would be received
by a similarly situated member who is entitled  to  benefits  under  the
provisions of section 13-157.2 of the administrative code of the city of
New York, but who is not governed by the provisions of this article.
* NB There are 2 § 445-e's