N.Y. Education Law § 399-a: Reduction of salaries for tax-deferred annuities

§ 399-A. Reduction of salaries for tax-deferred annuities. The board

of higher education of a city having a population of one million or

more, in its discretion, may enter into a written agreement with any of

its employees to reduce the annual salary, as otherwise earned and

payable by law, of such employee for the purpose of providing a

tax-deferred annuity for such employee under the retirement system in

which such employee is currently a member; but only if such retirement

system specifically provides for such tax-deferred annuities, and

subject to any provisions and limitations applicable thereto. Any such

agreement may be terminated upon written notice by either such employee

or such board. Nothing contained in this section shall be construed to

diminish or impair any benefits to which such employee or his legal

representatives or beneficiaries would be otherwise entitled had such

salary reduction agreement not been entered into in accordance with the

provisions of this section.