§ 375-C — Non-contributory retirement plan benefits

§ 375-c. Non-contributory retirement plan benefits. a. In addition to\nany retirement allowance to which a member may be entitled for services\nrendered at any time other than expressly provided for herein, any\nmember covered by the provisions of sections three hundred\nseventy-five-a or three hundred seventy-five-b of this chapter shall\nupon retirement, receive a service retirement pension for the herein\nprovided period of service, in accordance with the provisions of\nsubdivisions b, c or d hereof, as the case may be, which shall be in\nlieu of the service retirement pension and the pension for\nincreased-take-home-pay provided for in the sections of this chapter\nhereinafter referred to.\n b. 1. A member who had been contributing for service retirement\nbenefits on the basis of any of the plans contained in sections three\nhundred seventy-one, three hundred seventy-one-a, three hundred\nseventy-two or three hundred seventy-five of this chapter, shall receive\nat retirement, for service rendered on and after April first, nineteen\nhundred sixty, a pension computed on the basis of one-sixtieth of his\nfinal average salary for each year of such service; provided, however,\npersons who last became members on or after July first, nineteen hundred\nseventy-three shall receive such pension only for service rendered on\nand after April first, nineteen hundred sixty and prior to July first,\nnineteen hundred seventy-four.\n 2. A member who had been contributing for service retirement benefits\non the basis of any of the plans contained in paragraph one hereof,\nshall receive at retirement, for service rendered before April first,\nnineteen hundred sixty, a pension computed on the basis of one-one\nhundred twentieth of his final average salary for each year of credited\nmember service plus one-sixtieth of his final average salary for each\nsuch year of credited prior service or service in war after world war I.\nNotwithstanding anything to the contrary contained in section three\nhundred seventy-five of this chapter, a member who had been contributing\nas aforesaid shall be eligible for superannuation retirement upon\nattainment of age fifty-five.\n c. A member contributing for service retirement benefits on the basis\nof any of the plans contained in the sections numbered three hundred\neighty-one, three hundred eighty-one-a, three hundred eighty-two, three\nhundred eighty-three, three hundred eighty-three-a, three hundred\neighty-four, three hundred eighty-five, three hundred eighty-six, three\nhundred eighty-seven, three hundred eighty-eight, for service rendered\non and after April first, nineteen hundred sixty, a pension of\none-fiftieth of his final average salary for each year of such credited\nservice during this period, with the total allowance hereunder\ndetermined as defined and limited in the respective sections referred to\nin this paragraph c and with the additional proviso that any\ncontributions made by the member during the period referred to in this\nparagraph c shall be used at retirement to provide an additional annuity\nover and above the retirement allowance otherwise provided, except that\npersons who last became members on or after July first, nineteen hundred\nseventy-three shall receive such pension only for service rendered on\nand after April first, nineteen hundred sixty, and prior to July first,\nnineteen hundred seventy-four.\n d. A member who had been contributing for service retirement benefits\non the basis of the plans contained in sections three hundred\neighty-four-b, three hundred eighty-four-d or three hundred\neighty-five-a of this chapter, shall receive at retirement, for service\nrendered on and after April first, nineteen hundred sixty a pension of\none-fortieth of his final average salary for each year of such credited\nservice during this period, with the total allowance hereunder\ndetermined as defined and limited in the section referred to in this\nparagraph d and with the additional proviso that any contributions made\nby the member during the period referred to in this paragraph d shall be\nused at retirement to provide an additional annuity over and above the\nretirement allowance otherwise provided, except that persons who last\nbecame members on or after July first, nineteen hundred seventy-three\nshall receive such pension only for service rendered on and after April\nfirst, nineteen hundred sixty and prior to July first, nineteen hundred\nseventy-four.\n e. In addition to the pension hereinabove provided, a member shall\nreceive an annuity which shall be the actuarial equivalent of his\naccumulated contributions at the time of retirement.\n f. The benefits hereinabove provided shall be payable unless the\nmember would otherwise under the provisions of this chapter be entitled\nto a greater benefit, in which event, the greater benefit shall be\npayable.\n