§ 386 — Retirement of members in the Westchester county department of public safety services; closed plan

New York § 386

• 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

§ 386. Retirement of members in the Westchester county department of\npublic safety services; closed plan. a. As used in this section, the\nfollowing words and phrases shall have the following meanings unless a\ndifferent meaning is plainly required by the context:\n 1. "County." Westchester county.\n 2. "Department." Prior to July first, nineteen hundred seventy-nine,\nthe Westchester county parkway police force; on or after July first,\nnineteen hundred seventy-nine, the Westchester county department of\npublic safety services.\n 3. "Service in such department." Full time police duty as an officer\nor member of such department, or the police department or police force\nof any city, town, village or police district in the county, or in the\ndivision of state police in the state executive department.\n b. Any member in service in such department on January first, nineteen\nhundred fifty-eight, who elected, on or before July first, nineteen\nhundred fifty-eight, to contribute to the New York state employees'\nretirement system pursuant to the provisions of former section\neighty-six of this chapter, in effect prior to April first, nineteen\nhundred sixty-seven, shall contribute to the police and fire retirement\nsystem on the basis of retirement upon his or her:\n 1. Completion of twenty-five years of service in such department, or\n 2. Attainment of age sixty in service in such department, if prior\nthereto,\non all allowance of one-fiftieth of his final average salary for each\nyear of service in such department not in excess of twenty-five years,\nprovided such election was in writing and duly executed and filed with\nthe comptroller.\n c. On or after January first, nineteen hundred fifty-eight, but prior\nto July first, nineteen hundred seventy, employees entering or\nre-entering service in such department:\n 1. As members of the police force shall contribute on the basis\nprovided for by this section.\n 2. Other than as members of the police force shall not be eligible to\nthe benefits of this section.\n d. A member, who elects or is required to contribute in accordance\nwith this section, shall contribute, in lieu of the proportion of\ncompensation as provided in section three hundred twenty-one of this\narticle, a proportion of his compensation similarly determined. Such\nlatter proportion shall be computed to provide, at the time when he\nshall first become eligible for retirement under this section, an\nannuity equal to one-one hundredth of his final average salary for each\nyear of service as a member rendered on and after January first,\nnineteen hundred fifty-eight, and prior to the attainment of the age\nwhen he shall first become eligible for retirement. Such member's rate\nof contribution 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 employer contributes pursuant to such section\ntoward pensions-providing-for-increased-take-home-pay provided, however,\nthat such member may by written notice duly acknowledged and filed with\nthe comptroller make an election to waive such reduction as provided by\nsubdivision j of section three hundred twenty-one of this article. One\nyear or more after the filing thereof, a member may withdraw any such\nelection by written notice duly acknowledged and filed with the\ncomptroller. No such member shall be required to continue contributions\nafter completing twenty-five years of such service.\n e. 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 creditable service in such department or upon\nattainment of age sixty, if prior thereto, by filing an application\ntherefore in a manner similar to that provided in section three hundred\nseventy of this article. He thereupon shall receive, upon retirement, a\nretirement allowance consisting of:\n 1. An annuity which shall be the actuarial equivalent of his\naccumulated contributions at the time of his retirement, plus\n 2. A pension which is the actuarial equivalent of the\nreserve-for-increased-take-home-pay to which he may then be entitled, if\nany, plus\n 3. A pension of one-one hundredth of his final average salary for each\nyear of service rendered:\n (a) Since he last became a member, and\n (b) Prior to the completion of twenty-five years of service in such\ndepartment, and\n (c) Toward which he and his employer have contributed under this\nsection, plus\n 4. An additional pension of one-fiftieth of his final average salary,\nmultiplied by the number of years of service in such department prior to\nJanuary first, nineteen hundred fifty-eight. This pension shall be\npayable only if such member has had one or more years of service as a\nmember. The computation of this pension shall be subject to the further\nconditions that:\n (a) The service shall be limited so that the service in such\ndepartment used as a basis for pension credit under this paragraph four\nand paragraph three of this subdivision e shall not exceed twenty-five\nyears, and\n (b) The amount of the additional pension payable pursuant to this\nparagraph four shall not exceed the amount needed to increase the total\namount of the benefits provided under paragraphs one, two and three of\nthis subdivision e to one-half of the final average salary, plus\n 5. An additional pension equal to the pension for any creditable\nservice rendered while not an employee of such department as provided\nunder paragraphs three and four of subdivision a of section three\nhundred seventy-five of this article. This pension shall:\n (a) Be payable only if such member has attained age sixty at the time\nof retirement and has not completed twenty-five years of service in such\ndepartment for which he receives credit under this article, and\n (b) Not increase the total allowance to more than he would have\nreceived had his total service been rendered in such department.\n f. The increased pensions to members of such department, as provided\nby this section, shall be paid from additional contributions made by the\ncounty on account of such members. The actuary of the police and fire\nretirement system shall compute the additional contribution for each\nmember who elects the special benefits provided under this section. Such\nadditional contributions shall be computed on the basis of contributions\nduring the prospective service of such member which will cover the\nliability of the police and fire retirement system for such extra\npensions. Upon the approval by the comptroller, such additional\ncontributions shall be certified by him or her to the county executive\nof the county. The amount thereof shall be included in the annual\nappropriation of the county for the Westchester county parkway police\nforce. Such amount shall be paid on the warrant of the county department\nof finance to the pension accumulation fund of the police and fire\nretirement system.\n g. In computing the twenty-five years of completed service in such\ndepartment, full credit shall be given and full allowance shall be made\nfor service of such member in war after world war I as defined in\nsection two of this article, provided such member at the time of his\nentrance into the armed forces was in service in such department, and\nfor service in time of war during world war I and service with the\nAmerican expeditionary forces subsequent to November eleventh, nineteen\nhundred eighteen, and prior to June thirtieth, nineteen hundred\nnineteen, of honorably discharged officers, soldiers, sailors and\nmarines who were actual residents of the state at the time of their\nentry into the military service of the United States.\n h. Upon retirement of any member pursuant to this section, any\nadditional amounts credited to the member's annuity savings account\npursuant to subdivision b of section three hundred thirty of this\narticle shall be treated as excess contributions and shall be used to\nprovide an annuity in addition to the annuity prescribed by this\nsection. Any other amounts credited to the member's annuity savings\naccount, except the amounts contributed or required to be contributed\nunder this section and except such amounts as are required to produce\nthe retirement allowance provided by subdivision e of this section, may\nat the option of the member of the time of retirement be withdrawn or\nused to provide an annuity in addition to the annuity prescribed by this\nsection.\n i. The provisions of this section shall be controlling notwithstanding\nany provision in this article to the contrary.\n