2023 New York Laws › RSS - Retirement and Social Security › Article 8 - New York State and Local Police and Fire Retirement System › Title 5 - Participation in System by Political Subdivisions and Other Organizations › 331 - Participation by Public or Quasi-Public Organizations.

§  331.  Participation by public or quasi-public organizations. a. Any
  public or quasi-public organization which heretofore joined the New York
  state and local employees' retirement system, on behalf  of  its  police
  officers  and  firefighters,  shall  on  and after April first, nineteen
  hundred sixty-seven, participate, on behalf of such police officers  and
  firefighters,  in  the police and fire retirement system pursuant to the
  provisions of this article.
b. On and after April first, nineteen hundred sixty-seven, any  public
  or  quasi-public  organization  created wholly or partly or deriving its
  powers by the legislature of the state and  which  organization  employs
  police  officers  and  firefighters engaged in service to the public, by
  resolution legally adopted by its governing body  and  approved  by  the
  comptroller,  may  elect  to  have  its police officers and firefighters
  become eligible to participate in the New York state  and  local  police
  and  fire retirement system. Acceptance of the officers and employees of
  such an employer for membership in the New York state and  local  police
  and fire retirement system shall be optional with the comptroller. If he
  or  she  shall approve their participation, such organization, except as
  specifically provided in this article to the contrary, shall  thereafter
  be  treated  as  a participating employer. Notwithstanding the foregoing
  provisions of this subdivision, The Long Island Rail Road Company,  upon
  its  election  filed  with the comptroller, shall participate in the New
  York state and local police and fire retirement system with  respect  to
  LIRR  police  officers  as  defined in paragraph two of subdivision a of
  section three hundred eighty-nine of this article who are referred to in
  paragraph three of subdivision b or in paragraph one of subdivision c of
  section three hundred forty of this article, their  benefits  to  be  as
  provided  in  or  pursuant  to  such  section three hundred eighty-nine,
  provided that such election may only be made subsequent  to  the  latest
  date  of the enactment of federal legislation or receipt of assurance or
  relief from the relevant federal agency  or  agencies  for  all  of  the
  following:  removal of such LIRR police officers from coverage under the
  Federal Employers' Liability Act and  the  federal  Railway  Labor  Act,
  removal  of  such  LIRR  police officers from coverage under the federal
  Railroad Retirement Act and the federal Railroad Unemployment  Insurance
  Act  and  exemption  for  such  LIRR police officers and The Long Island
  Railroad Company from liability  either  for  taxes  under  the  federal
  Railroad  Retirement  Tax  Act  or  the  federal  Railroad  Unemployment
  Repayment Tax, and further provided that the authority for such election
  shall expire and be null and void if each such enactment or  receipt  is
  not effected on or before June fifteenth, nineteen hundred ninety-six.
c.  The  officers and employees of such organization shall be credited
  with such periods of prior  service  as  shall  be  certified  by  their
  employer  for  service rendered to it, or its predecessor, or the state,
  or in any other capacity approved by such employer and the  comptroller.
  Service  for  such  employer  after  the  date  on which it commences to
  participate in the police and fire retirement system and on  account  of
  which  such  employer  pays  contributions shall be considered as member
  service. An officer or employee of such employer who, as of the date  he
  or  she  is so approved for membership in the police and fire retirement
  system, is already a member thereof, shall not have  his  or  her  total
  credit reduced by such approval. Any reserve held on account of any such
  officer or employee in the pension accumulation fund shall be used as an
  offset  against  the  deficiency contribution payable thereafter by such
  employer on account of such officer or employee for  any  prior  service
  credit  and  any  such  previous credit. Except as otherwise provided in
  this article, a police officer or firefighter of such employer  who,  by
  reason  of  his  or  her  service, is a member of any other governmental

  retirement  system  shall  not  participate  in  the  police  and   fire
  retirement  system  on  that part of his or her compensation so covered.
  The term "governmental retirement system," as used in this  subdivision,
  shall  include any retirement system wholly or partly maintained by this
  state, by a municipality of this state, by another  state  or  political
  subdivision  thereof, by the United States government, or by any foreign
  country or political subdivision thereof.
The provision in subdivision b of this section limiting  participation
  in  the  New  York  state police and fire retirement system by reason of
  membership in another governmental retirement system shall not  diminish
  or  in any other way affect the prior or continual membership in the New
  York state police and fire retirement system, or any rights or  benefits
  heretofore or hereafter arising therefrom, of any officer or employee of
  a  public or quasi-public organization who (1) is in the service of such
  employer at the time this act takes effect, or was in such service prior
  thereto, and (2) by reason of such service is or was  a  member  of  any
  retirement system maintained by the United States government.
d. An agreement, made by such an employer pursuant to this section, to
  contribute   on   account   of  its  officers  and  employees  shall  be
  irrevocable. In the event that such  employer  for  any  reason  becomes
  financially  unable to make the contributions required on account of its
  officers and  employees,  it  shall  be  deemed  to  be  in  default.  A
  certificate to such effect thereupon shall be sent by the comptroller to
  the  employer  and  to  the  state superintendent of financial services.
  Every member of the police  and  fire  retirement  system,  who  was  an
  officer or employee of such employer at the time of default, upon demand
  made within ninety days thereafter, shall be entitled to discontinue his
  or  her  membership  in  the  police and fire retirement system and to a
  refund of his or her accumulated contributions. As of a date ninety days
  following the date of such certificate of default, the  actuary  of  the
  police  and  fire  retirement  system,  by  actuarial  valuation,  shall
  determine the amount of the reserves held  on  account  of  each  active
  member  and  pensioner  of such employer. He or she shall credit to each
  such member and pensioner the amount of reserve so held.  In  the  event
  such  an  active  member  does not discontinue his or her membership and
  thus  become  entitled  to  the  refund  of  his  or   her   accumulated
  contributions,  the reserve so credited, together with the amount of his
  or her accumulated contributions shall be used to provide him or  her  a
  paid  up  deferred  annuity  beginning at age sixty. The reserve of each
  pensioner shall be used in providing such part of his  or  her  existing
  pension  as  the  reserve  so held will provide, which pension, together
  with his or her annuity, shall thereafter be payable to him or her.  The
  rights  and  privileges  of  both  active members and pensioners of such
  employer shall thereupon terminate except  as  to  the  payment  of  the
  deferred  annuities  so provided for the previous active members and the
  annuities  and  the  pensions,  or  parts  thereof  provided   for   the
  pensioners.
e.  Notwithstanding  anything  to  the  contrary,  the police and fire
  retirement system shall not be liable for the payment of any pensions or
  other benefits on account of the officers, employees  or  pensioners  of
  any  employer  under  this  section  for  which  reserves  have not been
  previously created from  funds  contributed  by  such  employer  or  its
  officers  or employees for such benefits. This provision shall not apply
  to any municipality which  elected  to  participate  in  the  retirement
  system  under  former  section  seventy-five-a of this law prior to July
  first, nineteen hundred forty-eight.