N.Y. Retirement & Social Security Law § 75-b: Non-contributory retirement plan for members of participating employers

§ 75-b. Non-contributory retirement plan for members of participating

employers. a. Notwithstanding any other provision of law to the

contrary, no further contributions to the retirement system as provided

in subdivision b of section twenty-one of this chapter, shall be

required of any member in the employ of such a participating employer

electing to participate pursuant to the provisions of this section;

provided, however, in the case of persons who last became members on or

after July first, nineteen hundred seventy-three, such required

contributions shall be waived only until the payroll period immediately

prior to that the first day of which is nearest to July first, nineteen

hundred seventy-four.

b. (1) By the adoption, filing and approval, where required, of a

resolution in the manner provided by sections thirty, thirty-one or

thirty-two of this chapter, as the case may be, a participating employer

who had previously elected to make contributions under the provisions of

subdivision aa of section seventy-a of this chapter, may elect to make

contributions to the pension accumulation fund for the purpose of

providing a non-contributory retirement plan pursuant to this section.

(2) By the adoption, filing and approval, where required, of a

resolution in the manner provided by sections thirty, thirty-one or

thirty-two of this chapter, as the case may be, a participating employer

who had not previously elected to contribute under the provisions of

subdivision aa of section seventy-a of this chapter, may elect to make

contributions to the pension accumulation fund for the purpose of

providing a non-contributory retirement plan pursuant to this section.

Such resolution shall specify the first payroll period after the date of

such filing for which no further contributions shall be required of

members in its employ.

c. Contributions shall be made to the pension accumulation fund by or

on account of each participating employer, as provided in sections

sixteen, seventeen and forty-two of this chapter, at a rate fixed by the

actuary which shall be computed to be sufficient to provide the benefits

established by section seventy-five-c of this chapter on account of

members in the employ of such participating employers.

d. Nothing contained in this section shall impair the right of

persons, who became members before August nineteenth, nineteen hundred

sixty-six, to make contributions pursuant to subdivision i of section

twenty-one of this chapter.

e. Any member who has elected to contribute at a certain rate of

contribution in accordance with the provisions of subdivision j of

section twenty-one of this chapter, shall continue to contribute at such

rate until his election under said subdivision is withdrawn.

f. Any member in service on August nineteenth, nineteen hundred

sixty-six, may by written notice duly acknowledged and filed with the

comptroller on or before August eighteenth, nineteen hundred

sixty-seven, elect to contribute to the retirement system. Where a

member makes an election to contribute, as herein provided for, he shall

contribute to the retirement system as otherwise provided in this

chapter. One year or more after the filing of the notice of election to

contribute, the member may withdraw such election and elect not to

contribute.