* § 389. Twenty year retirement plan for LIRR police officers.
a.As\nused in this section, the following words and phrases shall have the\nfollowing meaning unless a different meaning is plainly required by the\ncontext:\n 1. "LIRR". The Long Island Railroad Company.\n 2. "LIRR police officer." A person who on or after the effective date\nof this section holds an appointment as a police officer in the LIRR\npolice department pursuant to section eighty-eight of the railroad law\nas well as any probationary police officer in that department who is\nexpected to hold such an appointment after completing the requisite\ntraining, but not including any such person unless the person's initial\nemployment with that department was in the position of such probationary\npolice officer or as a pat
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* § 389. Twenty year retirement plan for LIRR police officers. a. As\nused in this section, the following words and phrases shall have the\nfollowing meaning unless a different meaning is plainly required by the\ncontext:\n 1. "LIRR". The Long Island Railroad Company.\n 2. "LIRR police officer." A person who on or after the effective date\nof this section holds an appointment as a police officer in the LIRR\npolice department pursuant to section eighty-eight of the railroad law\nas well as any probationary police officer in that department who is\nexpected to hold such an appointment after completing the requisite\ntraining, but not including any such person unless the person's initial\nemployment with that department was in the position of such probationary\npolice officer or as a patrolman, policewoman, sergeant, lieutenant or\ndetective, or any successor title to any of the foregoing positions.\n 3. "LIRR police service." Service rendered prior to or on or after the\neffective date of this section by any LIRR police officer while serving\nonly as a LIRR police officer.\n 4. "Twenty-year plan." The twenty year retirement plan for LIRR police\nofficers as provided in this section.\n b. Except as otherwise provided in this article, a LIRR police officer\nreferred to in paragraph three of subdivision b of section three hundred\nforty of this article or a LIRR police officer referred to in paragraph\none of subdivision c of such section who files an election pursuant to\nsubdivision d of this section shall be entitled to all retirement system\nbenefits provided to a member who participates in sections three hundred\neighty-four-d and three hundred eighty-four-e of this article and who\njoins or rejoins the retirement system on the same date as such LIRR\npolice officer joins or rejoins the retirement system (subject to the\nprovisions of subdivision c of section four hundred forty of this\nchapter).\n c. Except as otherwise provided in this article, any provision of law\nand any regulation promulgated by the head of the retirement system,\nincluding, but not limited to, any such provision or regulation\npertaining to contributions, membership rights, benefits, service\ncredit, and procedures which are applicable to a member who joins or\nrejoins the retirement system on the same date as a LIRR police officer\njoins or rejoins the retirement system (subject to the provisions of\nsubdivision c of section four hundred forty of this chapter), as such\nmember is referred to in subdivision b of this section, and by virtue of\nsuch member's membership in the retirement system, shall, to the extent\nthat any such provision or regulation is found applicable by the head of\nthe retirement system, apply to a LIRR police officer who contributes to\nthe retirement system referred to in subdivision b of this section.\n d. A LIRR police officer referred to in paragraph three of subdivision\nb of section three hundred forty of this article shall contribute to the\nretirement system pursuant to the schedule provided in this paragraph\nupon becoming a LIRR police officer, which rate shall thereafter not be\nchanged. A LIRR police officer referred to in paragraph one of\nsubdivision c of such section shall contribute to the retirement system\nat the rate determined pursuant to the schedule provided in this\nparagraph commencing with the effective date of this section but based\non his age when LIRR police service commenced, which rate shall\nthereafter not be changed. Except as otherwise provided in this article,\nsuch contributions shall be calculated, collected, credited and\notherwise treated by the retirement system in the same manner as are\nmember contributions and accumulated contributions under this chapter. A\nmember of the twenty year plan shall not, however, be required to\ncontribute pursuant to this paragraph after he has completed twenty\nyears of LIRR police service, nor shall such a member be permitted to\nmake contributions thereafter except as otherwise provided in this\nsection prior to the completion of twenty years of LIRR police service.\nIn the event of termination of employment with the LIRR as a LIRR police\nofficer, a member of the twenty year plan who is not vested or entitled\nto any other benefit under this section or any other provision of this\nchapter may withdraw an amount equal to his accumulated contributions\nwith interest credited thereon. In the event such membership shall\nterminate other than as a result of transfer to a public employer, any\ncontributions and interest thereon remaining to the credit of the member\nshall be refunded. For the purpose of such withdrawal or refund, the\ncontributions shall be credited with interest at the rate of five\npercent per annum. Upon withdrawal of contributions by a member pursuant\nto this paragraph, membership in the retirement system shall cease. A\nformer member who thereafter returns to employment with the LIRR as a\nLIRR police officer shall not receive any credit for previous service to\nwhich such withdrawn or refunded contributions applied unless such\nmember applies therefor and repays the amounts so withdrawn or refunded,\ntogether with interest through the date of repayment at the rate of five\npercent per annum.\n Age at commencement of\n LIRR police service Percentage rate\n 18 5.90\n 19 5.70\n 20 5.55\n 21 5.35\n 22 5.15\n 23 5.00\n 24 4.80\n 25 4.65\n 26 4.45\n 27 4.30\n 28 4.15\n 29 3.95\n 30 3.80\n 31 3.65\n 32 3.50\n 33 3.35\n 34 3.15\n 35 or older 3.00\n e. In addition to such other sections of this chapter, as may pursuant\nto subdivision b of this section, apply in accordance with their terms\n(including, but not limited to, sections three hundred sixty-one, three\nhundred sixty-one-a, three hundred sixty-three, three hundred\nsixty-three-c and three hundred sixty-four), sections three hundred\nsixty-two, three hundred seventy-six, three hundred eighty-four-d, three\nhundred eighty-four-e and four hundred forty-eight of this chapter shall\napply to a LIRR police officer who is a member of the retirement system\nin accordance with this section except as otherwise provided herein, and\nprovided that LIRR police service shall be substituted for total service\ncredit, as that latter term is used in section three hundred sixty-two,\nfor total service as that term is used in section three hundred\nseventy-six, for total creditable service as that term is used in\nsection three hundred eighty-four-d, and for service as that term is\nused in sections three hundred eighty-four-e and four hundred\nforty-eight. Notwithstanding any other provision of the foregoing\nsections or of this article to the contrary, member contributions under\nsubdivision d of this section shall not entitle the member to any\nbenefit pursuant to section three hundred eighty-four-d of this article\ngreater than one-half of his final average salary after twenty years of\nLIRR police service, or, in the case of a member who has more than\ntwenty years of LIRR police service at retirement, any benefit pursuant\nto subdivision b of section three hundred eighty-four-e of this article\nfor such additional years of LIRR police service not exceeding ten, or,\nin the case of a member who has ten or more years but less than twenty\nyears of LIRR police service upon termination of service as a LIRR\npolice officer, any benefit pursuant to section three hundred\nseventy-six of this article greater than the vested retirement allowance\ndescribed in subdivision b of section three hundred seventy-six of this\narticle.\n f. Within one hundred twenty days after the effective date of this\nsection, the sum of (a) the balance held under The Long Island Rail Road\nCompany Money Purchase Plan for the account of all LIRR police officers\nwho as of the effective date become members of the retirement system\npursuant to section three hundred forty of this article and (b) the\namount of any contributions under The Long Island Rail Road Company\nPension Plan or The Long Island Rail Road Company Plan for Additional\nPensions made by any such LIRR police officer, together with interest on\nsuch contributions in the same amount as interest would be credited\nthereto under such plans if the amount of these contributions were\nrefunded thereunder to the member involved on the date of the transfer,\nshall be transferred to the pension accumulation fund of the retirement\nsystem by the LIRR and the amount so transferred other than the account\nbalance under The Long Island Rail Road Company Money Purchase Pension\nPlan deriving from contributions thereunder by the LIRR shall be\nconsidered contributions for purposes of subdivision d of this section.\n g. Commencing on the effective date of this section and in a manner\ndetermined by the head of the retirement system, the LIRR shall make\ncontributions to the retirement system to fund the normal cost to the\nextent not funded by member contributions and the past service liability\ncost associated with the implementation of this section to the extent\nnot funded by the amounts referred to in subdivision f of this section\nas those costs are calculated by the retirement system actuary. Such\ncontributions to fund the past service liability shall be made in level\ndollar installments over a period equal to (a) the average remaining\nworking lifetime of the members of the twenty year plan or (b) ten\nyears, at the election of the LIRR, by notice of such election to the\nretirement system together with the notice by the LIRR provided for in\nsubdivision b of section three hundred thirty-one of this article.\n ** h. Notwithstanding any other provision of law, the LIRR shall pick\nup the member contributions required on and after the effective date of\nthis subdivision to be made under this section by LIRR police officers\nand shall do so by reducing the salary of each of its employees to which\nthis section is applicable by that amount which each such employee is\nrequired to contribute under this section. The contributions so picked\nup shall be paid by the LIRR in lieu of the member contributions to be\npaid by its employees under this section and shall be treated as\nemployer contributions in determining income tax treatment under section\nfour hundred fourteen (h) of the Internal Revenue Code. With the\nexception of federal income tax treatment, the employee contributions\npicked up or paid pursuant to this subdivision shall for all other\npurposes, including computation of retirement benefits and contributions\nby the LIRR and its employees, be deemed employee salary. Nothing\ncontained in this subdivision shall be construed as superseding the\nprovisions of section four hundred thirty-one of this chapter or any\nsimilar provision of law which limits the salary base for computing\nretirement benefits payable by a public retirement system.\n ** NB Effective the first day of the calendar month following receipt\nby the comptroller of the election by The Long Island Rail Road Company\nand shall remain in full force and effect only so long as such treatment\nof employee contributions is authorized pursuant to the provisions of\nthe Internal Revenue Code\n * NB Effective the first day of the calendar month following receipt\nby the comptroller of the election by The Long Island Rail Road Company\n