2023 New York Laws › RSS - Retirement and Social Security › Article 11 - Limitations Applicable to New Entrants › 445-C - Optional Twenty-Year Improved Benefit Retirement Program for New York City Correction Members of the Rank of Captain or Above.

§  445-c. Optional twenty-year improved benefit retirement program for
New York city correction members of the rank of captain or  above.    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. "New York city correction officer of the rank of captain or  above"
shall  mean  a  member  of  the  uniformed  force  of  the department of
correction of the city of New York who  holds  the  rank  of  correction
captain;  assistant deputy warden, also known as warden correction level
I; deputy warden or  deputy  warden-in-command,  also  known  as  warden
correction  level  II;  warden  or  deputy  chief,  also known as warden
correction level III; or chief  of  department,  also  known  as  warden
correction in the correction service of such city.
3.  "New  York city correction member of the rank of captain or above"
shall mean a member of the retirement  system  who  is  subject  to  the
provisions of this article, who is a New York city correction officer of
the  rank  of  captain or above and who has elected to contribute to the
retirement system on the basis of a minimum retirement period of  twenty
years of credited service pursuant to the optional retirement provisions
of section 13-155 of the administrative code.
4.  "Twenty-year  improved benefit retirement program for captains and
above" shall mean all the terms and conditions of this section.
5. "Starting date  of  the  twenty-year  improved  benefit  retirement
program  for  captains  and above" shall mean the effective date of this
section, as such date is certified pursuant to section forty-one of  the
legislative law.
6. "Participant in the twenty-year improved benefit retirement program
for  captains  and above" shall mean any New York city correction member
of the rank of captain or above 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-year improved
benefit retirement program for captains and above, as applicable to  him
or her.
7.  "Administrative  code"  shall  mean the administrative code of the
city of New York.
8. "Accumulated  deductions"  shall  mean  accumulated  deductions  as
defined  in  subdivision  eleven of section 13-101 of the administrative
code.
b. Election of twenty-year improved  benefit  retirement  program  for
captains  and  above.  1. Subject to the provisions of paragraph five of
this subdivision  and  of  subparagraph  (iii)  of  paragraph  seven  of
subdivision  d of section four hundred forty-five-a of this article, any
person who is a New York city correction member of the rank  of  captain
or  above  on  the  starting  date  of  the twenty-year improved benefit
retirement program  for  captains  and  above  may  elect  to  become  a
participant  in  the twenty-year improved benefit retirement program for
captains and above by filing, within ninety  days  after  such  starting
date,  a  duly  executed  application  for  such  participation with the
retirement system, provided he or she is such a correction member of the
rank of captain or above on the date such application is filed.
2. Subject to the provisions of paragraph five of this subdivision and
of subparagraph (iii) of paragraph seven of  subdivision  d  of  section
four  hundred forty-five-a of this article, any person who becomes a New
York city correction member of the rank of captain or  above  after  the
starting date of the twenty-year improved benefit retirement program for
captains  and above may elect to become a participant in the twenty-year

improved benefit retirement program for captains and  above  by  filing,
within  ninety  days  after  becoming  such  a correction member, a duly
executed application for such participation with the retirement  system,
provided he or she is such a correction member of the rank of captain or
above on the date such application is filed.
3.  Any  election  to  be  a  participant  in the twenty-year improved
benefit retirement program for captains and above shall be irrevocable.
4.  Where  any  participant  in  the  twenty-year   improved   benefit
retirement  program  for  captains  and  above  shall  cease to hold the
position of New York city correction officer of the rank of  captain  or
above,  he  or  she shall cease to be such a participant and, during any
period in which such person does not hold the position of New York  city
correction  officer of the rank of captain or above, he or she shall not
be a participant in the twenty-year improved benefit retirement  program
for  captains  and  above  and shall not be eligible for the benefits of
subdivision c of this section.
5.  Where  any  participant  in  the  twenty-year   improved   benefit
retirement  program  for  captains and above terminates service as a New
York city correction officer of the rank of captain or above and returns
to such service as a New York city correction  member  of  the  rank  of
captain  or  above  at a later date, he or she shall again become such a
participant on that date.
c. Notwithstanding any other provision of law  to  the  contrary,  and
subject  to  the  provisions  of paragraph nine of subdivision d of this
section,  where  a  participant  in  the  twenty-year  improved  benefit
retirement  program  for captains and above is otherwise qualified for a
retirement allowance pursuant to section 13-155  of  the  administrative
code, 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.   the   maximum   retirement   benefit  computed  without  optional
modification payable to that participant upon his or her retirement  for
service  as  such a participant shall equal that payable upon completion
of thirty years of service; and
4.  notwithstanding  any  other  provision  of  this  article  to  the
contrary,  that  participant shall be entitled to the application of the
same provisions with respect to credited service as now  or  hereinafter
apply  to a similarly situated correction officer under this article who
is not a participant in such retirement program.
d. Additional member contributions.  1.  In  addition  to  the  member
contributions  required pursuant to section 13-155 of the administrative
code, each participant in the twenty-year  improved  benefit  retirement
program  for  captains  and  above  shall  contribute  (subject  to  the
applicable provisions of section 13-125.1 of the administrative code) an
additional percentage of his  or  her  compensation  to  the  retirement
system in accordance with the following schedule:
(i) each such participant who became a New York city correction member
of  the  rank  of  captain  or  above  prior to November first, nineteen
hundred ninety-two shall contribute an additional  five  and  fifty-nine
one-hundredths  percent  of  his  or  her  compensation  earned from all
service as a New York city correction member of the rank of  captain  or
above  rendered  on  and  after  the  starting  date  of the twenty-year
improved benefit retirement program for captains and above;
(ii) each such participant who became  or  becomes  a  New  York  city
correction  member of the rank of captain or above for the first time on
or after November first, nineteen hundred ninety-two shall contribute an
additional seven and forty-six one-hundredths  percent  of  his  or  her
compensation  earned  from  all  service  as  a New York city correction
member of the rank of  captain  or  above  rendered  on  and  after  the
starting date of the twenty-year improved benefit retirement program for
captains and above.
2.  A  participant  in  the  twenty-year  improved  benefit retirement
program for  captains  and  above  shall  contribute  additional  member
contributions  only  until  he  or she is eligible to retire with twenty
years of credited service under such retirement program.
3. Commencing with the first full payroll  period  after  each  person
become  a  participant  in  the  twenty-year improved benefit retirement
program for captains and above, additional member contributions  at  the
applicable  rate specified in paragraph one of this subdivision shall be
deducted (subject to the applicable provisions of  section  13-125.1  of
the  administrative  code)  from the compensation of such participant on
each and every payroll of such participant for each  and  every  payroll
period.
4.  In  addition  to  the  member  contributions  required pursuant to
section 13-155 of the administrative code,  and  the  additional  member
contributions  required  pursuant  to paragraph one of this subdivision,
each participant in the twenty-year improved benefit retirement  program
for  captains  and  above  who,  prior  to  becoming such a participant,
rendered service as a New York city correction member  of  the  rank  of
captain  or  above  on  or  after  December nineteenth, nineteen hundred
ninety and prior to  the  starting  date  of  the  twenty-year  improved
benefit  retirement  program  for captains and above and/or service as a
New York city correction member below the rank of captain  on  or  after
December  nineteenth, nineteen hundred ninety and prior to becoming such
a participant shall make retroactive additional member contributions  to
the  retirement  system  based  on  such  service in accordance with the
following schedule:
(i) each such participant who became a New York city correction member
of the rank of captain  or  above  prior  to  November  first,  nineteen
hundred  ninety-two  shall  contribute  an  amount  equal  to  five  and
fifty-nine one-hundredths percent of  his  or  her  compensation  earned
from:
(A)  all  service  as a New York city correction member of the rank of
captain or above rendered on and  after  December  nineteenth,  nineteen
hundred  ninety  and  prior  to  the  starting  date  of the twenty-year
improved benefit retirement program for captains and above; and
(B) all service as a New York city correction member below the rank of
captain rendered on and  after  December  nineteenth,  nineteen  hundred
ninety  and  prior to becoming a participant in the twenty-year improved
benefit retirement program for captains and above;
(ii) each such participant who became  or  becomes  a  New  York  city
correction  member of the rank of captain or above for the first time on
or after November first, nineteen hundred ninety-two shall contribute an
amount equal to seven and forty-six one-hundredths percent of his or her
compensation earned from:
(A) all service as a New York city correction member of  the  rank  of
captain  or above rendered on and after November first, nineteen hundred
ninety-two and prior to the starting date of  the  twenty-year  improved
benefit retirement program for captains and above; and
(B) all service as a New York city correction member below the rank of
captain  rendered  on  and  after  December nineteenth, nineteen hundred

ninety and prior to becoming a participant in the  twenty-year  improved
benefit retirement program for captains and above.
5.  Each  participant  in  the twenty-year improved benefit retirement
program for captains and above  who  is  required  to  make  retroactive
additional  member  contributions  in  accordance with the provisions of
paragraph four of this subdivision shall be charged with a  contribution
deficiency  consisting  of  the  amounts  of such retroactive additional
member contributions determined in accordance with such paragraph  four,
together with interest thereon compounded annually, and
(i) such interest on each such amount 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; and
(ii) the rate of interest to be applied to each such 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.
6. Where  a  person  who  became  or  becomes  a  participant  in  the
twenty-year  improved  benefit retirement program for captains and above
has rendered less than fifteen years of credited service as of the  date
he  or  she  became  or becomes a New York city correction member of the
rank of captain or above, the  amount  of  the  contribution  deficiency
charged  to  such  a  participant  pursuant  to  paragraph  five of this
subdivision, consisting of retroactive additional  member  contributions
plus  interest  on  such amounts, shall be reduced by an amount equal to
the additional member contributions which such participant made pursuant
to paragraph one of subdivision d of section four  hundred  forty-five-a
of  this  article  as  a participant in the twenty-year improved benefit
retirement program for correction officers below  the  rank  of  captain
(together  with  any  interest  thereon)  which  are  on  deposit in the
contingent reserve fund of the retirement system on the date such person
became or becomes a participant  in  the  twenty-year  improved  benefit
retirement program for captains and above.
7.  (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   three   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 unpaid amount 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, until such amount is paid to the retirement system;
and
(C) 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  otherwise  provided  in  subparagraph  (iii)  of  this
paragraph,  no  interest  shall  be  due on any unpaid additional member
contributions which are not attributable to  the  period  prior  to  the
first  full  payroll  period  referred  to  in  paragraph  three of this
subdivision.
(iii) Should any person who, pursuant  to  paragraph  eleven  of  this
subdivision,  has withdrawn any additional member contributions (and any
interest paid thereon) again become a  participant  in  the  twenty-year
improved  benefit  retirement program for captains and above 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 subparagraph (i)
of this paragraph) as if such additional contributions  had  never  been
made.
8. The board of trustees of the retirement system may, consistent with
the  provisions  of  this  subdivision,  promulgate  regulations for the
payment of  such  additional  member  contributions,  and  any  interest
thereon, by a participant in the twenty-year improved benefit retirement
program  for  captains  and  above  (including  the  deduction  of  such
contributions, and any interest thereon, from his or her compensation).
9. Where a participant, who is otherwise eligible to have the benefits
of subdivision c of this section applied to the calculation  of  his  or
her  retirement  allowance,  did  not,  while he or she was a correction
member of the rank of captain or above,  pay  the  entire  amount  of  a
contribution  deficiency chargeable to him or her pursuant to paragraphs
five and/or seven of this subdivision, that  participant,  nevertheless,
shall  be  entitled  to  the  benefits of subdivision c of this section,
provided, however, that the retirement allowance,  as  modified  by  the
provisions  of  such  subdivision  c,  shall be reduced by the actuarial
equivalent of the amount of any contribution deficiency pursuant to such
paragraphs five and/or seven which such participant did not pay while he
or she was a correction member of the rank of captain or above.
10. Where  a  participant  has  not  paid  in  full  any  contribution
deficiency  chargeable  to him or her pursuant to paragraphs five and/or
seven 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 eleven of  this  subdivision,  or  a
retirement  allowance  which has been reduced pursuant to the provisions
of paragraph nine 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.
11.   (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 accumulated deductions of a member of the retirement system
while he or she is a participant in  the  twenty-year  improved  benefit
retirement program for captains and above or otherwise.
(ii)  (A)  Should  a  participant  in the twenty-year improved benefit
retirement program for captains and above who  has  rendered  less  than
fifteen years of credited service cease to hold the position of New York
city  correction  officer of the rank of captain or above 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 eight
and one-quarter percent per annum, compounded annually.
(B) Upon the death  of  a  participant  in  the  twenty-year  improved
benefit  retirement  program for captains and above, there shall be paid
to such person as he or she has nominated or shall nominate  to  receive

his  or  her accumulated deductions by written designation duly executed
and filed with  the  retirement  system  during  the  lifetime  of  such
participant,  or,  to  his or her estate if no such person is nominated,
his  or her accumulated additional member contributions made pursuant to
this subdivision (including any interest thereon paid to the  retirement
system),  together  with  interest  thereon  at  the  rate  of eight and
one-quarter percent per annum, compounded annually.
(iii) Except as  otherwise  provided  in  subparagraph  (ii)  of  this
paragraph, no member of the retirement system, while he or she is such a
participant or otherwise, shall have a right to withdraw such additional
member contributions or any interest thereon from the retirement system.
12.  Notwithstanding  any  other  provision  of law to the contrary, a
member of the retirement system shall not be  permitted  to  borrow  any
portion  of  his  or  her additional member contributions (including any
interest paid thereon) which are subject to this subdivision.
13. Notwithstanding any other provisions 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.
14.  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.
15.  The  provisions of subdivision b of section four hundred forty of
this article shall apply to participants under this section.