§ 294 — Transfer of retirement membership, contributions, reserves and other credits of police officers and firefighters, and certain other persons

New York § 294

• Jurisdiction: New York
• Law RSS: Retirement & Social Security
• Title 1: Legislative Intent; Transitory Provisions
• Art. 8: New York State and Local Police and Fire Retirement System

Text

§ 294. Transfer of retirement membership, contributions, reserves and\nother credits of police officers and firefighters, and certain other\npersons. a. The membership in the employees' retirement system of police\nofficers and firefighters on the effective date of this article, and of\nall persons who are members of such system on such date and contributing\npursuant to the provisions of sections eighty-one through eighty-eight,\ninclusive, of this chapter as in force and effect immediately prior to\nthe effective date of this article, shall be transferred to the\nretirement system established by this article on the effective date\nthereof. All such persons transferred to the retirement system\nestablished pursuant to the provisions of this article shall be entitled\nto all prior service credits and member service credits and to all the\nrights, privileges, immunities, benefits, refunds, increases, advances,\ninsurance, pensions, annuities, retirement allowances, death benefits\nand options and shall be subject to all obligations, dues, duties and\nrequirements to which they were entitled or were subject, as the case\nmay be, pursuant to the provisions of article two of this chapter.\nPersons becoming members of the retirement system established by this\narticle subsequent to March thirty-first, nineteen hundred sixty-seven,\nand who are entitled to credit for service rendered as a member of the\nemployees' retirement system shall be entitled to the same credit for\nsuch service pursuant to this article.\n b. Accumulated contributions, reserves and any other credits standing\nto the credit of persons enumerated in subdivision a of this section\nshall be transferred to the credit of such persons in the retirement\nsystem established by this article. Members so transferred shall\ncontinue to contribute at the same rate as applied to them individually\nin the employees' retirement system and they shall continue to be\nentitled to the same rights, benefits and privileges as they were\nentitled to as members of the employees' retirement system on the\neffective date of this article.\n