N.Y. Retirement & Social Security Law § 32: Participation by certain New York city libraries

§ 32. Participation by certain New York city libraries. a. The boards

of trustees of The New York Public Library, Astor, Lenox and Tilden

Foundations, The Brooklyn Public Library and The Queens Borough Public

Library, which organizations employ persons engaged in service to the

public, by resolution legally adopted and approved by the comptroller,

may elect to have their employees become eligible to participate in the

retirement system. When such election is made by the board of trustees

of any such library in pursuance of an agreement or plan concluded

between it and the city of New York, for such of its employees whose

salaries and compensation are paid from appropriations to such library

by the city of New York in its budget, then such board of trustees shall

also elect by separate resolution to have such of its employees, whose

salaries and compensation for services are paid out of its own corporate

funds, become eligible to participate in the retirement system.

b. Acceptance of the employees of such an employer for membership in

the retirement system shall be optional with the comptroller. If he

shall approve their participation, then such organization shall be

treated as if it were a municipality that has approved the participation

of its employees in the retirement system as provided in section thirty

of this article. The comptroller shall determine the amounts of

contribution payable by such libraries and their employees, and, in all

other respects in so far as this article covering such a municipality is

applicable, shall similarly treat all such employees.

c. When, as a condition of a contract or plan concluded with any one

of such libraries, a number of whose employees are being paid from

salaries and compensation for services out of appropriations as

aforesaid, the city of New York obligates itself in any manner to pay or

cause to be paid deficiency and normal contributions on account of such

employees to the extent of, and not in excess of, a certain specified

rate based on a fixed percentage of the payroll appropriated, then the

comptroller shall have power to accept the participation of all the

employees of such organization on the same terms and subject to the same

limitations as provided for under both aforesaid resolutions. Such

employees shall in all other respects participate in the retirement

system as provided in section thirty-one of this article.

d. Should there be a default in paying or causing to be paid pursuant

to any contract or agreement with such employer the deficiency and

normal contributions on account of the employees of any such library,

whose salaries and compensation for services are paid out of funds

appropriated by such city, or, if the amount of such contributions

required to be paid by such city, pursuant to any contract or agreement

made prior to the first participation of such employees, a copy of which

shall have been filed with the comptroller, is, in the judgment of the

comptroller, insufficient and inadequate to continue the membership of

the employees of such employer in the retirement system because of the

limit set in such contract, then such employer shall immediately be

relieved and exonerated from any duty or obligation to any person

whatsoever from making any contribution on account of any or all its

employees. A certificate to such effect shall be sent to the employer

and to the state superintendent of financial services. All members of

the retirement system, who were employees of such employer at the time

such certificate is issued, shall thereupon be entitled to discontinue

membership as provided in section thirty-one of this article. Any such

employer, however, within thirty days of the receipt of such certificate

may notify the comptroller that it elects to continue the benefits of

the retirement system for such of its employees whose salaries and

compensation for services are paid out of its own corporate funds.

e. Notwithstanding anything to the contrary, the retirement system

shall not be liable for the payment of any pensions or other benefits on

account of the officers and employees or pensioners of any employer

under this section, for which reserves have not been previously created

from funds contributed by such employer or its officers and employees

for such benefits.