§ 383-D — Alternative retirement benefits for university police officers appointed by the state university

New York § 383-D

• Jurisdiction: New York
• Law RSS: Retirement & Social Security
• Title 10: Special Retirement Plans Applicable to Specified Classes of Members
• Art. 8: New York State and Local Police and Fire Retirement System

Text

§ 383-d. Alternative retirement benefits for university police\nofficers appointed by the state university. a. As used in this section,\nthe term "university police officer" shall mean a person who is so\nappointed pursuant to paragraph l of subdivision two of section three\nhundred fifty-five of the education law.\n b. Notwithstanding any other provision of law providing for transfers\nbetween retirement systems, any university police officer in the service\nof the state university who is a member of the New York state employees'\nretirement system may transfer to the New York state and local police\nand fire retirement system and shall receive credit pursuant to and be\nentitled to the retirement benefits afforded in accordance with this\nsection. Upon any such transfer the member shall be entitled to the\namount of service which would have been deemed creditable had such\nmember been subject to such system during the course of his or her\nmembership within such system. Contributions to such system shall be\nmade in accordance with appropriate provisions of law relating thereto.\nApplication for such transfer must be made to the state comptroller on\nor before December thirty-first, two thousand fifteen. The provisions of\nsection three hundred forty-three of this article shall apply to any\nmember making application for transfer under this subdivision.\n c. Any university police officer in the service of the state\nuniversity who elects or is required to contribute under this section\nshall contribute to the New York state and local police and fire\nretirement system on the basis of retirement upon his or her:\n 1. Completion of twenty-five years of total creditable service; or\n 2. Attainment of age sixty as a university police officer in the\nservice of the state university, if prior thereto, on an allowance of\none-fiftieth of his or her final average salary for each year of total\ncreditable service not in excess of twenty-five years. Such election\nshall be in writing and shall be duly executed and filed with the\ncomptroller.\n d. Every employee entering or re-entering service as a university\npolice officer in the service of the state university on or after the\neffective date of this section shall contribute on the basis provided\nfor by this section.\n e. A member who is required to contribute in accordance with this\nsection shall contribute, in lieu of the proportion of compensation as\nprovided in section three hundred twenty-one of this article, a\nproportion of his or her compensation similarly determined. Such latter\nproportion shall be computed to provide at the time when he or she shall\nfirst become eligible for retirement under this section, an annuity\nequal to one-one hundredth of his or her final average salary for each\nyear of service as a member prior to the attainment of the age when he\nor she shall first become eligible for retirement. Such member's rate of\ncontribution pursuant to this section shall be appropriately reduced\npursuant to section three hundred seventy-a of this article for such\nperiod of time as his or her employer contributes pursuant to such\nsection toward pensions-providing-for-increased-take-home-pay. No such\nmember shall be required to continue contributions after completing\ntwenty-five years of such service.\n f. A member contributing on the basis of this section, at the time of\nretirement, shall be entitled to retire after the completion of\ntwenty-five years of total creditable service or upon the attainment of\nage sixty by filing an application therefor in a manner similar to that\nprovided in section three hundred seventy of this article. He or she\nshall receive, on retirement, a retirement allowance consisting of:\n 1. An annuity which shall be the actuarial equivalent of his or her\naccumulated contributions at the time of his or her retirement, plus\n 2. A pension which, together with such annuity and a pension which is\nthe actuarial equivalent of the reserve-for-increased-take-home-pay to\nwhich he or she may then be entitled, if any, shall equal one-fiftieth\nof his or her final average salary for each year of creditable service\nin such service. This pension shall not exceed the amount needed to make\nthe total amount of the benefits provided under this paragraph and\nparagraph one of this subdivision equal to one-half of final average\nsalary.\n 3. An additional pension equal to the pension for any creditable\nservice rendered while not employed as a university police officer in\nthe service of the state university as provided under paragraphs two and\nthree of subdivision a of section three hundred seventy-five of this\narticle. This pension shall:\n (i) Be payable only if such member has attained age sixty at the time\nof retirement and has not completed twenty-five years of service as a\nuniversity police officer in the service of the state university for\nwhich he or she receives credit under this article, and\n (ii) Not increase the total allowance to more than he or she would\nhave received had his or her total service been rendered as a university\npolice officer in the service of the state university. For the purpose\nonly of determining the amount of the pension provided herein, the\nannuity shall be computed as it would be:\n (A) if not reduced by the actuarial equivalent of any outstanding\nloan, and\n (B) if not increased by the actuarial equivalent of any additional\ncontributions, and\n (C) if not reduced by reason of the member's election to decrease his\nor her annuity contributions to the retirement system in order to apply\nthe amount of such reduction in payment of his or her contributions for\nold-age and survivors insurance coverage.\n g. The increased pensions to a university police officer in the\nservice of the state university, as provided by this section, shall be\npaid from additional contributions made by the state on account of such\nmembers. The actuary of the retirement system shall compute the\nadditional contribution of each member who elects to receive the special\nbenefits provided under this section. Such additional contributions\nshall be computed on the basis of contributions during the prospective\nservice of such member which will cover the liability of the retirement\nsystem for such extra pensions. Upon approval by the comptroller, such\nadditional contributions shall be certified by him or her to the\nchancellor of the state university. The amount thereof shall be included\nin the annual appropriation of the state for the state university. Such\namount shall be paid on the warrant of the comptroller to the pension\naccumulation fund of the retirement system.\n h. In computing the twenty-five years of completed service of a\nuniversity police officer in the service of the state university, full\ncredit shall be given and full allowance shall be made for service of\nsuch member in war after World War I as defined in section two of this\nchapter, provided such member at the time of his of her entrance into\nthe armed forces was in state service, and full credit and full\nallowance shall be made for service as a university peace officer prior\nto the effective date of chapter four hundred twenty-four of the laws of\nnineteen hundred ninety-eight.\n i. The provisions of this section shall be controlling notwithstanding\nany provision in this article to the contrary.\n j. Notwithstanding any provision of subdivision d, e or i of this\nsection to the contrary, a member who is in the collective negotiating\nunit designated as the agency police services unit and established\npursuant to article fourteen of the civil service law and who has\nelected or is required to contribute in accordance with this section\nmay, on or before March thirty-first, two thousand sixteen, elect to\ncome under the provisions of section three hundred seventy-five-h of\nthis article. Such election shall be duly executed and filed with the\ncomptroller.\n k. Commencing with the effective date of this section and in a manner\ndetermined by the head of the retirement system, the state, as employer,\nshall make contributions to the retirement system to fund the past\nservice liability costs associated with the implementation of this\nsection as those costs are calculated by the retirement system actuary.\nSuch contributions may, at the election of the employer, be amortized\nover a ten year period.\n