§ 295 — Payment of retirement allowances and transfer of reserves

§ 295. Payment of retirement allowances and transfer of reserves. a.\nOn the effective date of this article, all retired police officers and\nfirefighters, and other persons who have retired pursuant to the\nprovisions of sections eighty-one through eighty-eight, inclusive, of\nthis chapter, as in force and effect immediately prior to the effective\ndate of this article, and their beneficiaries shall be transferred and\nbecome a charge upon the retirement system established by this article\nand shall thereafter receive their retirement allowances from such\nsystem.\n b. Reserves held by the comptroller for the payment of such retirement\nallowances shall be transferred to the retirement system established by\nthis article on the effective date thereof.\n