§ 80-A — Legislative and executive retirement plan; new plan

§ 80-a. Legislative and executive retirement plan; new plan. a. As\nused in this section the following words and phrases shall have the\nfollowing meanings unless a different meaning is plainly required by the\ncontext:\n 1. "Legislative and executive member". A person who is\nlieutenant-governor, comptroller, attorney-general, a senator, an\nassemblyman or an annual or session employee of the legislature, and\nelects to come under the provisions of this section.\n 1-a. "Legislative employee" means (a) an officer or employee of the\nsenate; (b) an officer or employee of the assembly; (c) an officer or\nemployee of a joint legislative employer. For the purposes of this\nsubdivision, the term "joint legislative employer" shall mean\nlegislative commissions, committees, task forces (irrespective of\nintended or actual duration), joint legislative commissions, councils or\nsimilar bodies whose membership is comprised of both senators and\nassembly members, or which consist of commissioners, or the majority of\nwhose membership is appointed by one or more of the following: the\ntemporary president of the senate, the speaker of the assembly, the\nminority leader of the senate and/or the minority leader of the\nassembly, and shall include officers and employees of the legislative\nlibrary, legislative health service, legislative messenger service and\nincluding components of the senate or assembly that are so identified\npursuant to the legislative law; and further shall include officers and\nemployees of a joint legislative employer which at the time of the\nservice satisfies the foregoing definition of "joint legislative\nemployer". "Legislative service" or "legislative employment" shall mean\nservice or employment as a legislative employee as defined herein.\n 2. "Annual employee". A person employed by the legislature on an\nannual payroll for not less than twenty-six weeks in any calendar year\n(exclusive of employees of joint legislative committees or temporary\ncommissions) regardless of whether or not such service is consecutive\nand regardless of whether rendered before or after the effective date of\nthis act.\n 3. "Session employee". A person employed by the legislature on a\nsession payroll during the entire period of a regular session of the\nlegislature. For the purposes of this paragraph, the entire period of a\nregular session of the legislature shall mean the period covered by the\nsession payroll schedule adopted for administrative purposes and\ncertified to by the temporary president of the senate or the speaker of\nthe assembly, as the case may be, at the commencement of a regular\nsession of the legislature.\n 4. "Final average salary". The average yearly and/or annual\ncompensation earned during any three consecutive years of creditable\nservice, as selected by such member at the time of retirement.\n 5. "Yearly compensation". The total salary or wages and statutory\nallowance paid in any calendar year for creditable service to the\nlieutenant-governor, comptroller, attorney-general, a senator, an\nassemblyman or an annual or session employee of the legislature for any\npurpose, and/or while a delegate, officer or employee of the conventions\nto revise and amend the constitution of the state in the years nineteen\nhundred thirty-eight or nineteen hundred sixty-seven, or both.\n 6. "Annual compensation". The total salary or wages paid in any\ncalendar year to a person for any creditable service under this section,\nother than service as lieutenant-governor, comptroller,\nattorney-general, a senator, an assemblyman or an annual or session\nemployee of the legislature.\n 7. "Creditable service". Regardless of whether rendered before or\nafter the effective date of this section, service rendered as\nlieutenant-governor, comptroller, attorney-general, a senator, an\nassemblyman or an annual or session employee of the legislature, and\nservice rendered to the state, any political subdivision thereof or a\npublic benefit corporation for which credit is granted under the\nprovisions of this or any other section of this chapter, and military\nservice. A senator or an assemblyman or a session employee who serves\nduring an entire regular legislative session, and an annual employee who\nserves not less than twenty-six weeks during any calendar year shall be\ncredited with service for the entire year. Notwithstanding the foregoing\nprovisions of this paragraph, service rendered to the state, any\npolitical subdivision thereof or a public benefit corporation for which\ncredit is granted under the provisions of any other section of this\nchapter shall not be deemed to be creditable service, as herein defined,\nif rendered by a person who becomes a member under the provisions of\nthis section on and after July first, nineteen hundred seventy-two.\n 8. "Military service". (a) Prior military service as defined in\nparagraphs d and e of subdivision twenty-four of section two of this\nchapter; and\n (b) Service in war after world war I as defined in subdivisions\ntwenty-nine, twenty-nine-a, thirty, and thirty-one of section two of\nthis chapter; and\n (c) In the case of a senator or assemblyman, service, not in excess of\nthree years and not otherwise creditable under subparagraph (b) of this\nparagraph, rendered on active duty in the armed forces of the United\nStates during the period commencing July first, nineteen hundred forty,\nand terminating December thirty-first, nineteen hundred forty-six, by a\nperson who was a resident of the state at the time of entry into service\nand at the time of being discharged therefrom (i) under honorable\ncircumstances, or (ii) has a qualifying condition, as defined in section\nthree hundred fifty of the executive law, and was a resident of the\nstate at the time of entry into service and at the time of receiving a\ndischarge other than bad conduct or dishonorable from such service, or\n(iii) is a discharged LGBT veteran, as defined in section three hundred\nfifty of the executive law, and was a resident of the state at the time\nof entry into service and at the time of receiving a discharge other\nthan bad conduct or dishonorable from such service.\n 9. "Service fraction". The fraction by which a member's final average\nsalary times his years of service is multiplied to determine such\nmember's pension.\n b. Any person who is lieutenant-governor, comptroller,\nattorney-general, a senator, an assemblyman or an annual or session\nemployee of the legislature may elect to come under the provisions of\nthis section by filing an application therefor with the comptroller on\nor before April first, nineteen hundred sixty-nine or within one year\nafter he last becomes lieutenant-governor, comptroller,\nattorney-general, a senator, an assemblyman or an annual or session\nemployee of the legislature, whichever is later. One year or more after\nthe filing thereof, a member may withdraw any such election by written\nnotice duly acknowledged and filed with the comptroller.\n c. 1. A legislative and executive member who, while a member of this\nretirement system under the provisions of any other section of this\nchapter, elected, prior to August nineteenth, nineteen hundred\nsixty-seven, to contribute at a rate of contribution determined in\naccordance with the provisions of such section, shall continue to\ncontribute at such rate until such election is withdrawn as provided in\nsubdivision e of section seventy-five-a of this chapter.\n 2. No contribution may be made by a legislative and executive member\nunder the provisions of this section who:\n (a) becomes a member of the retirement system on and after April\nfirst, nineteen hundred sixty-eight; or\n (b) was a non-contributory member of the retirement system at the time\nhe elects to come under the provisions of this section.\n 3. In addition, every person who was a member of this retirement\nsystem prior to August nineteenth, nineteen hundred sixty-six may elect\nor may continue to make contributions pursuant to subdivision i of\nsection twenty-one of this chapter.\n d. 1. A legislative and executive member who does not withdraw his\ncontributions made prior to April first, nineteen hundred sixty, shall\nbe entitled to retire, subject to the provisions of subdivision h of\nthis section, upon his:\n (a) Completion of twenty years of service as a state senator or\nassemblyman, which may include service credited under subparagraph (c)\nof paragraph eight of subdivision a of this section, or\n (b) Completion of at least five years of service as a legislative and\nexecutive member, and\n (c) Completion of at least five additional years of creditable\nservice, and\n (d) Attainment of age fifty-five,\nby filing an application therefor in a manner similar to that provided\nin section seventy of this article.\n 2. (a) Upon completion of such service and upon retirement, each such\nlegislative and executive member shall receive a pension for creditable\nservice prior to April first, nineteen hundred sixty which, together\nwith an annuity, if any, which shall be the actuarial equivalent of his\naccumulated normal contributions attributable to the period prior to\nApril first, nineteen hundred sixty, and accumulated contributions paid\nto receive credit for military service as defined in subparagraph c of\nparagraph eight of subdivision a of this section, shall be sufficient to\nprovide him with a retirement allowance equal to one-fortieth of his\nfinal average salary for each year of such service.\n For the purpose only of determining the amount of such pension\nprovided for in this subparagraph (a), the annuity shall be computed as\nit would be if it were not reduced by the actuarial equivalent of any\noutstanding loan, and if it were not increased by the actuarial\nequivalent of other than normal contributions, and if it were not\nreduced by reason of the legislative and executive member's election to\ndecrease his annuity contributions to the retirement system in order to\napply the amount of such reduction in payment of his contributions for\nold age and survivors insurance coverage.\n (b) In addition, each such legislative and executive member shall\nreceive: (1) An additional annuity which shall be the actuarial\nequivalent of his accumulated contributions other than those required\npursuant to subparagraph (a) of paragraph two of this subdivision or\nmade on and after April first, nineteen hundred sixty to this retirememt\nsystem, or to a local pension system in the case of a member who\ntransfers his membership to this retirement system on and after such\ndate pursuant to section forty-three of this chapter; and\n (2) An additional pension of one-fortieth of such member's final\naverage salary for each year of creditable service after April first,\nnineteen hundred sixty.\n 3. In no event shall the sum total of the pensions payable under this\nsection to any member exceed seventy-five per cent of such member's\nfinal average salary.\n e. Any legislative and executive member who was a member of this\nretirement system pursuant to the provisions of any other section of\nthis chapter, and/or who was a member of a local pension system and who\nreceives or received service credit therefor in this retirement system\npursuant to section forty-three of this chapter, and/or who renders or\nrendered military service, shall receive full credit under this section\nfor such service. In addition to credit for military service previously\ngranted or subsequently granted pursuant to other provisions of this\nchapter, credit for military service as defined in subparagraph (c) of\nparagraph eight of subdivision a of this section shall be granted upon\npayment by the member of both the amount of contributions which such\nmember would have been required to pay into the annuity savings fund and\nthe amount which the state would have been required to pay into the\npension accumulation fund if such service had been legislative service\npursuant to section eighty of this chapter. No credit shall be allowed\nfor military service if, but for the member's failure to avail himself\nof the privilege of transfer within the time and in the manner provided\nin section forty-three of this article, credit for such service could\nhave been obtained upon transfer from another retirement system pursuant\nto such section, nor shall such credit for military service as defined\nin subparagraph (c) of paragraph eight of subdivision a of this section\nbe allowed if application for such credit is made later than one year\nafter first becoming a member of the legislative and executive plan set\nforth in this section. Such contributions shall be paid in a lump sum or\nin such installments as the comptroller shall approve, and shall be\nreduced by the amount of applicable contributions, if any, made or\ntransferred to this retirement system under any section of this chapter\nfor such service.\n f. 1. A legislative and executive member who discontinues service\nother than by death or retirement after March thirty-first, nineteen\nhundred sixty-eight and who has received credit for service on the basis\nof the plan contained in this section for at least ten years and who\ndoes not withdraw his contributions made prior to April first, nineteen\nhundred sixty shall be eligible to retire on the date when the member\nwould have otherwise been eligible to retire pursuant to subdivision d\nof this section had he continued in the service covered by this section,\nand shall receive a retirement allowance computed in accordance with the\nprovisions of paragraph two of this subdivision.\n 2. (a) Such vested retirement allowance shall consist of a pension for\ncreditable service prior to April first, nineteen hundred sixty which,\ntogether with an annuity, if any, which shall be the actuarial\nequivalent of his accumulated normal contributions attributable to the\nperiod prior to April first, nineteen hundred sixty and accumulated\ncontributions paid to receive credit for military service as defined in\nsubparagraph c of paragraph eight of subdivision a of this section,\nshall be sufficient to provide him with a retirement allowance equal to\none-fortieth of his final average salary for each year of such service.\n For the purpose only of determining the amount of such pension\nprovided for in this subparagraph (a), the annuity shall be computed as\nit would be if it were not reduced by the actuarial equivalent of any\noutstanding loan, and if it were not increased by the actuarial\nequivalent of other than normal contributions, and if it were not\nreduced by reason of the legislative and executive member's election to\ndecrease his annuity contributions to the retirement system in order to\napply the amount of such reduction in payment of his contributions for\nold age and survivors insurance coverage.\n (b) In addition, such vested retirement allowance shall include:\n (1) an additional annuity which shall be the actuarial equivalent of\nhis accumulated contributions other than those required pursuant to\nsubparagraph a of paragraph two of this subdivision or made on and after\nApril first, nineteen hundred sixty, to this retirement system, or to a\nlocal pension system in the case of a member who transfers his\nmembership to this retirement system on and after such date pursuant to\nsection forty-three of this chapter, and\n (2) an additional pension of one-fortieth of such member's final\naverage salary for each year of creditable service after April first,\nnineteen hundred sixty.\n g. 1. Any legislative and executive member, who has vested rights\nunder subdivision f of this section, who terminates his employment as\nlieutenant-governor, comptroller, attorney-general, a senator, an\nassemblyman or an annual or session employee of the legislature, and who\nobtains other employment in the service of the state, a political\nsubdivision thereof or a public benefit corporation participating in\nthis retirement system or maintaining a local pension system from or to\nwhich a person may transfer pursuant to section forty-three of this\nchapter, may elect to continue to be a legislative and executive member\nand be covered by, and make contributions in accordance with, the\nprovisions of this section in the same manner as during his period of\nservice as lieutenant-governor, comptroller, attorney-general, a\nsenator, an assemblyman or an annual or session employee of the\nlegislature. In such case, notwithstanding the provisions of item (2) of\nsubparagraph (b) of paragraph two of subdivision d, and item (2) of\nsubparagraph (b) of paragraph two of subdivision f, the additional\npension earned under this subdivision g shall be computed by multiplying\nthe member's final average salary for each such year of service by the\nservice fraction applicable to the section of this chapter or local\npension system which otherwise would have been applicable to such\nmember.\n 2. Notwithstanding any general, special or local law, charter or code,\nany such member who makes the election provided in this subdivision\nshall not be eligible for membership in the local pension system\nmaintained by the political subdivision or public benefit corporation by\nwhich he is employed.\n 3. Every political subdivision or public benefit corporation which\nemploys any such member shall make contributions to this retirement\nsystem on behalf of such member equal to the amount of contributions\notherwise required of the political subdivision or public benefit\ncorporation by this retirement system in the case of a participating\nemployer, or by the local pension system in the case of a\nnon-participating employer. Such contributions shall be transferred to\nthis retirement system at such times and in such manner as shall be\nprescribed by the comptroller.\n h. 1. No member shall be eligible to retire under the provisions of\nsubdivision d of this section unless he was a legislative and executive\nmember and/or elected to be continued as a legislative and executive\nmember pursuant to subdivision g of this section for at least three\nyears immediately prior to his date of retirement, or was a senator or\nassemblyman for at least two years immediately prior to his date of\nretirement.\n 2. No member shall be eligible to retire under the provisions of\nsubdivision f of this section unless he was a legislative and executive\nmember and/or elected to be continued as a legislative and executive\nmember pursuant to subdivision g of this section for at least three\nyears immediately prior to his discontinuance of service or was a\nsenator or assemblyman for at least two years immediately prior to his\ndiscontinuance of service.\n i. Whenever any death benefit, based upon eligibility for retirement,\nis granted by any other provision of this chapter or any other law, any\nlegislative and executive plan member shall be considered to have been\neligible to retire after the completion of twenty years of creditable\nservice as defined in this section, including five years as a\nlegislative and executive member, notwithstanding any other requirement\ncontained in this section respecting minimum age for retirement.\n j. On and after July first, nineteen hundred seventy-three, no person\nmay elect to be covered under the provisions of this section.\n k. The provisions of this section shall be controlling notwithstanding\nany provision of this chapter to the contrary.\n