§ 532 — Supplemental retirement allowance

§ 532. Supplemental retirement allowance. a. A supplemental retirement\nallowance shall be paid to pensioners who have retired from the\nretirement system prior to the calendar year nineteen hundred\nninety-four. Such supplemental retirement allowance shall be payable on\nthe basis provided for herein, commencing with a payment for the month\nof September, nineteen hundred ninety-nine and continuing through the\nmonth of August, two thousand. Said supplemental retirement allowance\nshall be a percentage of the retirement allowance otherwise payable,\ncomputed without optional modification, but excluding any annuity\nderived from voluntary contributions made by members, except those made\npursuant to elections under subdivision one of section five hundred\neleven-a or paragraph c of subdivision three of section five hundred\nsixteen of this article. Said percentage, for each calendar year of\nretirement, is set forth in subdivision b of this section. Said\nsupplemental retirement allowance shall be computed on the basis of the\nfirst fourteen thousand dollars of such annual retirement allowance and\nshall be payable commencing September first, nineteen hundred\nninety-nine to all disability pensioners and recipients of an accidental\ndeath benefit, and to other pensioners who have attained age sixty-two\nor who have been retired for ten or more years and have attained age\nfifty-five.\n b. 1. In calculating the supplemental retirement allowance in\naccordance with subdivision a of this section, the following percentages\nwill be used for each calendar year of retirement, as appropriate:\nCalendar year of retirement Percentage\n1993 1.5\n1992 1.5\n1991 1.5\n1990 1.5\n1989 2.8\n1988 3.7\n1987 4.5\n1986 5.5\n1985 6.3\n1984 7.4\n1983 8.3\n1982 10.5\n1981 12.5\n1980 15.6\n1979 19.9\n1978 25.4\n1977 30.3\n1976 37.8\n1975 42.5\n1974 54.0\n1973 73.0\n1972 86.0\n1971 96.7\n1970 105.0\n1969 141.8\n1968 169.0\n1967 195.9\n1966 203.7\n1965 230.5\n1964 254.5\n1963 278.6\n1962 310.0\n1961 330.0\n1960 340.0\n1959 390.0\n1958 427.3\n1957 442.3\n The supplemental retirement allowance shall be rounded off to the\nnearest dollar.\n 1-a. For those pensioners retired from the retirement system prior to\nthe calendar year nineteen hundred fifty-seven the percentage referred\nto in this section shall be determined by the ratio of two indexes, in\nthe following manner. The average of the twelve monthly consumer price\nindexes of the calendar year nineteen hundred ninety-five divided by the\naverage of the twelve monthly consumer price indexes of the calendar\nyear of retirement shall be the ratio of the indexes. Said ratio, minus\none, shall be expressed as a percentage and shall be adjusted to the\nlower one-tenth of one per centum. Such adjusted percentage shall be the\npercentage of the retirement allowance, computed without optional\nmodification, which is payable as a supplement. Such percentage shall be\ncomputed by the actuary and certified to the retirement board which\nshall, by directive, promulgate a schedule of percentages by year of\nretirement to be used for this purpose. The supplemental retirement\nallowance shall be rounded off to the nearest dollar.\n c. The benefits herein above provided for shall be in lieu of the\nbenefits presently provided by section five hundred ten and articles\nfour and six of the retirement and social security law, unless such\nbenefits are in excess of those provided by this section, in which\nlatter case such benefits shall be paid by the retirement system\npursuant to this section.\n d. Notwithstanding any other provision of law, the widow or widower of\na deceased retired teacher, who had elected one of the options under\nsection five hundred thirteen of this article which provides that\nbenefits are to be continued for life to the widow or widower after the\ndeath of the teacher, shall be entitled to receive a monthly\nsupplemental retirement allowance pursuant to this subdivision. Such\nmonthly supplemental retirement allowance shall commence (1) with the\npayment for the month of September, nineteen hundred seventy-eight, or\n(2) the month following commencement of widowhood or widowerhood,\nwhichever is later. The amount of the supplemental retirement allowance\nprovided by this subdivision shall be one-half of the amount which would\nhave been payable to the retiree as a supplemental retirement allowance,\nhad he or she survived.\n e. 1. Each pensioner of the retirement system who retired before July\nfirst, nineteen hundred eighty shall be paid, commencing with a payment\nfor the month of July two thousand twenty-one a basic supplemental\npension, the total of which when added to his or her yearly retirement\nallowance computed without optional modification, but excluding any\nannuity derived from contributions made by members pursuant to\nparagraphs a and b of subdivision three of section five hundred sixteen,\nsection five hundred twenty-eight, section five hundred twenty-nine,\nsection five hundred thirty, section five hundred thirty-three and\nsection five hundred thirty-five of this article, shall equal the lesser\nof nineteen thousand two hundred fifty dollars or the sum of five\nhundred fifty dollars multiplied by the number of years of full-time New\nYork state service not to exceed thirty-five years with which he or she\nwas credited at the time of his or her retirement.\n 2. The benefits provided for pursuant to this subdivision shall be in\nlieu of the benefits provided by articles four and six of the retirement\nand social security law, subdivisions a, b and c of this section, and\nsubdivision f of section five hundred thirty-two-a of this article,\nunless such a retired member would be eligible to receive a greater\nbenefit pursuant to any of such provisions, in which latter case this\nsubdivision shall not apply.\n f. Contributions shall be made to the supplemental retirement\nallowance fund by, or on account of, each employer at a rate computed by\nthe actuary and approved by the retirement board, which shall be\ncomputed to be sufficient to provide the benefits established by this\nsection which are payable during the period of time that this section\nshall be in effect. The retirement board may from time to time transfer\nsufficient monies from the pension accumulation fund to the supplemental\nretirement allowance fund to meet the obligations imposed by this\nsection. Such advances shall be restored to the pension accumulation\nfund pursuant to paragraph a of subdivision two of section five hundred\ntwenty-one of this article.\n g. 1. Commencing July first, nineteen hundred eighty-three, an\nadditional supplemental pension shall be paid to those pensioners who on\nJune thirtieth, nineteen hundred eighty-three were receiving\nsupplemental benefits computed pursuant to article four of the\nretirement and social security law or computed pursuant to paragraph one\nof subdivision e of this section as it read prior to amendment by\nchapter four hundred seven of the laws of nineteen hundred\nseventy-seven. Such additional supplemental pension shall equal ten\npercent of the total of the supplemental pension paid to such pensioner\npursuant to article four of the retirement and social security law or\nparagraph one of subdivision e of this section as it read prior to\namendment by chapter four hundred seven of the laws of nineteen hundred\nseventy-seven, and the yearly retirement allowance computed without\noptional modification, but excluding any annuity derived from voluntary\ncontributions made by members, pursuant to paragraphs a and b of\nsubdivision three of section five hundred sixteen, section five hundred\ntwenty-eight, section five hundred twenty-nine, section five hundred\nthirty, section five hundred thirty-three and section five hundred\nthirty-five of this article.\n 2. The benefits provided pursuant to paragraph one of this subdivision\nshall be in lieu of the benefits provided by any other provision of law,\nunless such a pensioner would be eligible to receive a greater benefit\npursuant to any such other provision, in which latter case this\nsubdivision shall not apply.\n