N.Y. General Municipal Law § 207-l: Temporary supplemental retirement allowances for certain police officers in towns and villages

§ 207-l. Temporary supplemental retirement allowances for certain

police officers in towns and villages. Notwithstanding the provisions of

any general, special or local law, charter or administrative code to the

contrary, a supplemental retirement allowance may be paid to pensioners

of a pension or retirement system of a paid police department of a town

or village who have retired prior to the calendar year nineteen hundred

seventy. Such supplemental retirement allowance shall be payable on the

basis provided for herein, commencing with a payment for the month of

October, nineteen hundred seventy-one and continuing through the month

of September, nineteen hundred seventy-three.

a. The supplemental retirement allowance provided for herein shall be

a percentage of the retirement allowance computed without optional

modification and shall be determined on the basis of the consumer price

index (all items--United States city average), published by the United

States Bureau of Labor Statistics. Said percentage shall be determined

in the manner set forth in this section. Said supplemental retirement

allowance shall be computed on the basis of the first eight thousand

dollars of such annual retirement allowance and shall be payable

commencing October first, nineteen hundred seventy-one, to all

disability pensioners, and to other pensioners who have attained age

sixty-two on or before September thirtieth, nineteen hundred

seventy-one, and commencing on April first, nineteen hundred

seventy-two, to such other pensioners who shall have attained age

sixty-two on or after October first, nineteen hundred seventy-one and on

or before September thirtieth, nineteen hundred seventy-two.

b. The percentage referred to in subdivision a hereof shall be

determined from the ratio of two indexes, in the following manner. The

average of the twelve monthly consumer price indexes of the calendar

year nineteen hundred sixty-nine, divided by the average of the twelve

monthly consumer price indexes of the calendar year of retirement shall

be the ratio of the indexes. Said ratio, minus one, shall be expressed

as a percentage and shall be adjusted to the lower one-tenth of one per

centum. Such adjusted percentage shall be the percentage of the

applicable portion of the retirement allowance, computed without

optional modification which shall be payable as a supplemental

retirement allowance. However, no such supplement shall be paid where

such percentage is less than three per centum. Such percentage for

pensioners who retired prior to April first, nineteen hundred

fifty-eight shall be increased by sixty per centum thereof and the

adjusted percentage shall be further adjusted to the lower one-tenth of

one per centum. Such percentage shall be computed by the actuary each

year and certified to the comptroller who shall, by directive,

promulgate a schedule of percentages to be used for this purpose.

c. The supplemental retirement allowance shall be rounded off to the

nearest dollar.

d. The benefits hereinabove provided for shall be in lieu of the

benefits presently provided by any other general, special or local law

unless such benefits are in excess of those provided by this section, in

which latter case such benefits shall be paid by the retirement system

pursuant to this section.

e. Contributions shall be made to such pension accumulation fund by,

or on account of, the municipality at a rate fixed by the actuary or if

there be no actuary then by the fiscal officer of the municipality,

which shall be computed to be sufficient to provide the benefits

established by this section which are payable during the period of time

that this section shall be in effect.

f. Nothing herein contained shall be deemed to apply to members of the

state employees' retirement system.