N.Y. Education Law § 529: Pensions providing for increased take home pay for certain teachers

§ 529. Pensions providing for increased take home pay for certain

teachers. Notwithstanding any other provisions of law to the contrary,

beginning with the payroll period the first day of which is nearest to

April first, nineteen hundred sixty-one and ending with the payroll

period immediately prior to that the first day of which is nearest to

April first, nineteen hundred seventy, any member of the retirement

system who is a teacher within the provisions of subdivision four of

section five hundred one of this article in the employ of a community

college shall be deemed for the purposes of providing pensions for

increased take home pay to be a teacher within the provisions of section

five hundred twenty-eight of this article, provided that the board of

trustees of the community college employing such teacher files with the

retirement board a certified copy of the resolution, approved by the

local sponsor acting through its local legislative body or board or

other appropriate governing agency, of such board of trustees resolving

that teachers employed in such community college shall be eligible for

pensions providing for increased take home pay. Such resolutions shall

also specify the per centum of their compensation by which their

contributions shall be reduced, which shall be five per centum unless

eight per centum is specifically designated. In the event that such an

approved resolution is so filed, the contributions of such teachers so

employed in such community college shall be reduced by either five per

centum or eight per centum of their compensation, as provided in such

resolution, in the manner prescribed in section five hundred

twenty-eight of this article beginning with the payroll period the first

day of which is nearest to the first day of the month following the day

such certified approved resolution is filed, and thereafter the

contributions for each member of the retirement system employed by such

community college whose rate of contribution is reduced by virtue of the

provisions of this section and section five hundred twenty-eight of this

article shall be made to the pension accumulation fund by such community

college, the local sponsor, the local legislative body or board or other

appropriate governing agency in the same manner and at the same time as

other contributions are made by such community college, the local

sponsor, the local legislative body or board or other appropriate

governing agency as the employer of members of the retirement system at

a rate to be fixed in accordance with the procedure prescribed in

section five hundred twenty-eight of this article, and all applicable

provisions of said section five hundred twenty-eight subject to the

applicable per centum of a teacher's compensation by which his

contribution shall be reduced shall apply to such community college, the

local sponsor, the local legislative body or board or other appropriate

governing agency and to members of the retirement system employed by

such board of trustees.