N.Y. Retirement & Social Security Law § 294: Transfer of retirement membership, contributions, reserves and other credits of police officers and firefighters, and certain other persons

§ 294. Transfer of retirement membership, contributions, reserves and

other credits of police officers and firefighters, and certain other

persons. a. The membership in the employees' retirement system of police

officers and firefighters on the effective date of this article, and of

all persons who are members of such system on such date and contributing

pursuant to the provisions of sections eighty-one through eighty-eight,

inclusive, of this chapter as in force and effect immediately prior to

the effective date of this article, shall be transferred to the

retirement system established by this article on the effective date

thereof. All such persons transferred to the retirement system

established pursuant to the provisions of this article shall be entitled

to all prior service credits and member service credits and to all the

rights, privileges, immunities, benefits, refunds, increases, advances,

insurance, pensions, annuities, retirement allowances, death benefits

and options and shall be subject to all obligations, dues, duties and

requirements to which they were entitled or were subject, as the case

may be, pursuant to the provisions of article two of this chapter.

Persons becoming members of the retirement system established by this

article subsequent to March thirty-first, nineteen hundred sixty-seven,

and who are entitled to credit for service rendered as a member of the

employees' retirement system shall be entitled to the same credit for

such service pursuant to this article.

b. Accumulated contributions, reserves and any other credits standing

to the credit of persons enumerated in subdivision a of this section

shall be transferred to the credit of such persons in the retirement

system established by this article. Members so transferred shall

continue to contribute at the same rate as applied to them individually

in the employees' retirement system and they shall continue to be

entitled to the same rights, benefits and privileges as they were

entitled to as members of the employees' retirement system on the

effective date of this article.