N.Y. Retirement & Social Security Law § 381-a: Retirement of members or officers of the state police; new plan

§ 381-a. Retirement of members or officers of the state police; new

plan. a. Every member or officer of the division of state police in the

executive department who enters or re-enters service in the division on

or after May first, nineteen hundred sixty-one shall contribute to the

police and fire retirement system in the manner provided for by this

section.

b. Every member or officer of the division of state police who entered

such service prior to May first, nineteen hundred sixty-one and who

contributed under former section eighty-one-a of this chapter, in effect

prior to April first, nineteen hundred sixty-seven shall contribute on

the basis provided for by this section.

c. A member who elects or is required to contribute in accordance with

this section, shall contribute, in lieu of the proportion of

compensation as provided in section three hundred twenty-one of this

article, a proportion of his or her compensation similarly determined.

Such latter proportion shall be computed to provide, at the time when he

or she shall first become eligible for retirement under this section, an

annuity equal to one-one hundredth of his or her final average salary

for each year of service as a member of the state employees' retirement

system or the police and fire retirement system rendered after April

sixteenth, nineteen hundred thirty-eight, and prior to the attainment of

the age when he or she shall first become eligible for retirement. Such

member's rate of contribution pursuant to this section shall be

appropriately reduced pursuant to section three hundred seventy-a of

this article for such period of time as his or her employer contributes

pursuant to such section toward

pensions-providing-for-increased-take-home-pay. No such member shall

continue to make contributions after completing twenty-five years of

such service.

d. A member contributing on the basis of this section at the time of

retirement, shall be entitled to retire after the completion of

twenty-five years of total creditable service in such division, or upon

the attainment of age sixty, by filing an application therefor in a

manner similar to that provided in section three hundred seventy of this

article.

1. Upon completion of twenty-five years of such service and upon

retirement, each such member shall receive a pension which, together

with an annuity which shall be the actuarial equivalent of his

accumulated contributions at the time of his retirement and an

additional pension which is the actuarial equivalent of the

reserve-for-increased-take-home-pay to which he may then be entitled

shall be sufficient to provide him with a retirement allowance equal to

one-half of his final average salary.

2. Upon attainment of age sixty and upon retirement without completion

of twenty-five years of such service, each such member shall receive a

pension which together with an annuity which shall be the actuarial

equivalent of his accumulated contributions at the time of his

retirement and an additional pension which is the actuarial equivalent

of the reserve-for-increased-take-home-pay to which he may then be

entitled, shall be sufficient to provide him with a retirement allowance

equal to one-fiftieth of his final average salary for each year of

creditable service in such division. Every such member shall also be

entitled to an additional pension equal to the pension for any

creditable service rendered while not an employee of the division as

provided under paragraphs three and four of subdivision a of section

three hundred seventy-five of this article. This latter pension shall

not increase the total allowance to more than one-half of his final

average salary.

For the purpose only of determining the amount of the pension provided

in this subdivision, the annuity shall be computed as it would be if it

were not reduced by the actuarial equivalent of any outstanding loan,

and if it were not increased by the actuarial equivalent of any

additional contributions, and if it were not reduced by reason of the

member's election to decrease his or her annuity contributions to the

police and fire retirement system in order to apply the amount of such

reduction in payment of his or her contributions for old-age and

survivors insurance coverage.

e. The increased pensions to members of the division, as provided by

this section, shall be paid from additional contributions made by the

state on account of such members. The actuary of the police and fire

retirement system shall compute the additional contribution required for

each member who elects to receive the special benefits provided under

this section. Such additional contributions shall be computed on the

basis of contributions during the prospective service of such member

which will cover the liability of the police and fire retirement system

for such extra pensions. Upon approval by the comptroller, such

additional contributions shall be certified by him or her to the

superintendent of state police. The amount thereof shall be included in

the annual appropriation of the state for the division of state police.

Such amount shall be paid on the warrant of the comptroller to the

pension accumulation fund of the police and fire retirement system.

f. In computing the twenty-five years of completed service of a member

in the division, full credit shall be given and full allowance shall be

made for service of such member in time of war and service with the

American expeditionary forces subsequent to November eleventh, nineteen

hundred eighteen, and prior to June thirtieth, nineteen hundred

nineteen, of honorably discharged officers, soldiers, sailors, marines

and army nurses, who were actual residents of the state at the time of

their entry into the military service of the United States, and the

service of members of the national guard in the military service of the

United States of America pursuant to the call of the president for

Mexican border service.

g. The provisions of this section shall be controlling notwithstanding

any provision in this article to the contrary.