N.Y. Retirement & Social Security Law § 1204: Member contributions

* § 1204. Member contributions. Members who are subject to the

provisions of this article shall contribute three percent of annual

wages to the retirement system in which they have membership, except

that beginning April first, two thousand thirteen for members who first

become members of the New York state and local police and fire

retirement system on or after April first, two thousand twelve, the rate

at which each such member shall contribute in any current plan year

(April first to March thirty-first) shall be determined by reference to

the wages of such member in the second plan year (April first to March

thirty-first) preceding such current plan year as follows:

a. members with wages of forty-five thousand dollars per annum or less

shall contribute three per centum of annual wages;

b. members with wages greater than forty-five thousand per annum, but

not more than fifty-five thousand per annum shall contribute three and

one-half per centum of annual wages;

c. members with wages greater than fifty-five thousand per annum, but

not more than seventy-five thousand per annum shall contribute four and

one-half per centum of annual wages;

d. members with wages greater than seventy-five thousand per annum but

not more than one hundred thousand per annum shall contribute five and

three-quarters per centum of annual wages; and

e. members with wages greater than one hundred thousand per annum

shall contribute six per centum of annual wages.

Notwithstanding the foregoing, during each of the first three plan

years (April first to March thirty-first) in which such member has

established membership in the New York state and local police and fire

retirement system, such member shall contribute a percentage of annual

wages in accordance with the preceding schedule based upon a projection

of annual wages provided by the employer. Notwithstanding the foregoing,

when determining the rate at which each such member who became a member

of the New York state and local police and fire retirement system on or

after April first, two thousand twelve shall contribute for any plan

year (April first to March thirty-first) between April first, two

thousand twenty-two and April first, two thousand twenty-six, such rate

shall be determined by reference to employees annual base wages of such

member in the second plan year (April first to March thirty-first)

preceding such current plan year. Base wages shall include regular pay,

shift differential pay, location pay, and any increased hiring rate pay,

but shall not include any overtime payments. Effective April first, two

thousand twelve, all members subject to the provisions of this article

shall not be required to make member contributions on annual wages

excluded from the calculation of final average salary pursuant to

section twelve hundred three of this article. Nothing in this section,

however, shall be construed or deemed to allow members to receive a

refund of any member contributions on such wages paid prior to April

first, two thousand twelve.

Members who are enrolled in a retirement plan that limits the amount

of creditable service a member can accrue shall not be required to make

contributions pursuant to this section after accruing the maximum amount

of service credit allowed by the retirement plan in which they are

enrolled. The state comptroller shall promulgate such regulations as may

be necessary and appropriate with respect to the deduction of such

contribution from members' wages and for the maintenance of any special

fund or funds with respect to amounts so contributed. In no way shall

the member contributions made pursuant to this section be used to

provide for pension increases or annuities of any kind.

* NB Effective until October 1, 2026

* § 1204. Member contributions. Members who are subject to the

provisions of this article shall contribute three percent of annual

wages to the retirement system in which they have membership, except

that beginning April first, two thousand thirteen for members who first

become members of the New York state and local police and fire

retirement system on or after April first, two thousand twelve, the rate

at which each such member shall contribute in any current plan year

(April first to March thirty-first) shall be determined by reference to

the wages of such member in the second plan year (April first to March

thirty-first) preceding such current plan year as follows:

a. members with wages of forty-five thousand dollars per annum or less

shall contribute three per centum of annual wages;

b. members with wages greater than forty-five thousand dollars per

annum, but not more than fifty-five thousand dollars per annum shall

contribute three and one-half per centum of annual wages;

c. members with wages greater than fifty-five thousand dollars per

annum, but not more than seventy-five thousand dollars per annum shall

contribute four and one-half per centum of annual wages;

d. members with wages greater than seventy-five thousand dollars per

annum but not more than one hundred thousand dollars per annum shall

contribute five and three-quarters per centum of annual wages; and

e. members with wages greater than one hundred thousand dollars per

annum shall contribute six per centum of annual wages.

Notwithstanding the foregoing, during each of the first three plan

years (April first to March thirty-first) in which such member has

established membership in the New York state and local police and fire

retirement system, such member shall contribute a percentage of annual

wages in accordance with the preceding schedule based upon a projection

of annual wages provided by the employer. Notwithstanding the foregoing,

when determining the rate at which each such member who became a member

of the New York state and local police and fire retirement system on or

after April first, two thousand twelve shall contribute for any plan

year (April first to March thirty-first) between April first, two

thousand twenty-two and April first, two thousand twenty-eight, such

rate shall be determined by reference to employees annual base wages of

such member in the second plan year (April first to March thirty-first)

preceding such current plan year, except that beginning on and after

October first, two thousand twenty-six, for members who first became

members of the New York state and local police and fire retirement

system on or after April first, two thousand twelve, the contributions

in any current plan year (April first to March thirty-first) shall be

determined by reference to the base wages of such member in the second

plan year (April first to March thirty-first) preceding such current

plan year as follows:

(i) members with wages of seventy-five thousand dollars per annum or

less shall contribute three per centum of annual wages;

(ii) members with wages greater than seventy-five thousand dollars per

annum but not more than one hundred thousand dollars per annum shall

contribute four per centum of annual wages;

(iii) members with wages greater than one hundred thousand dollars per

annum but not more than one hundred twenty-five thousand dollars per

annum shall contribute five and one-quarter per centum of annual wages;

and

(iv) members with wages greater than one hundred twenty-five thousand

dollars per annum shall contribute five and three-quarters per centum of

annual wages.

Base wages shall include regular pay, shift differential pay, location

pay, and any increased hiring rate pay, but from April first, two

thousand twenty-two through March thirty-first, two thousand

twenty-eight shall not include any overtime payments. Effective April

first, two thousand twelve, all members subject to the provisions of

this article shall not be required to make member contributions on

annual wages excluded from the calculation of final average salary

pursuant to section twelve hundred three of this article. Nothing in

this section, however, shall be construed or deemed to allow members to

receive a refund of any member contributions on such wages paid prior to

April first, two thousand twelve.

Members who are enrolled in a retirement plan that limits the amount

of creditable service a member can accrue shall not be required to make

contributions pursuant to this section after accruing the maximum amount

of service credit allowed by the retirement plan in which they are

enrolled. The state comptroller shall promulgate such regulations as may

be necessary and appropriate with respect to the deduction of such

contribution from members' wages and for the maintenance of any special

fund or funds with respect to amounts so contributed. In no way shall

the member contributions made pursuant to this section be used to

provide for pension increases or annuities of any kind.

* NB Effective October 1, 2026