2006 New York Code - Credit After Being Member Of Other Retirement System.

 
    §  13-113  Credit  after  being  member of other retirement system. a.
  Notwithstanding the provisions of sections 13-107  and  13-108  of  this
  chapter, any person who from the thirtieth day of June, nineteen hundred
  twenty-eight, was or shall have been continuously in service paid for by
  the  city which was not a basis for membership in this retirement system
  but which was a basis  for  participation  in  one  or  more  retirement
  systems or pension funds supported wholly or partly by the city and who,
  within  one  year  after discontinuing such service, became or becomes a
  member of this retirement system, shall be credited:
    1. With all city-service rendered by such member before the first  day
  of October, nineteen hundred twenty, and
    2.  With  all service on or after such date and prior to the beginning
  of  membership  paid  for  by  the  city,  which  was  the   basis   for
  participation  by  such  member  in  one  or  more retirement systems or
  pension funds supported wholly or partly by the city but which was not a
  basis for participation in this retirement system,  provided,  that  the
  crediting  of  any  service  on  or  after  such date shall be only upon
  payment to the annuity savings fund in approximately equal  installments
  within  one  year  after  membership  begins,  or  at  the  beginning of
  membership in a lump sum, as he or she shall elect, of an  amount  equal
  to the amount that would have been in the annuity savings fund to his or
  her  credit had such member been a contributing member during the period
  covered by such payment;  provided,  further,  that  such  contributions
  shall  be  reduced  by the amount of any and all contributions by him or
  her to such other retirement system  or  pension  fund  for  the  period
  covered  by  such  payment  which  have  not been and cannot be lawfully
  refunded to such member by such retirement system or pension fund.
    b. (1) Notwithstanding any provision of sections 13-107 and 13-108  of
  this chapter or any provision or law to the contrary, any person who (a)
  began  service  as an employee of the city prior to July first, nineteen
  hundred thirty-eight and  since  such  entry  into  service  has  served
  continuously as an employee of the city and/or the New York city transit
  authority  and  (b) is still in the employ of such authority, and (c) by
  reason of such service was eligible to receive benefits from the  police
  pension fund, subchapter one, maintained by the city, and (d) because of
  eligibility  for  and  receipt  of  such benefits was unable to become a
  member of this retirement system until the enactment of  section  13-105
  of  this  chapter,  and (e) pursuant to such section, is now a member of
  this retirement system, his benefits  under  such  police  pension  fund
  having  been  suspended  pursuant  to  such section, may elect to obtain
  credit in this retirement system for all such service rendered from  the
  time  when  his  or her membership in such police pension fund began and
  prior to his or her attaining membership in this retirement  system,  by
  complying  with the requirements set forth in paragraphs two and four of
  this subdivision.
    (2) To obtain such service credit such member shall:
    (a) Not later than December thirty-first, nineteen hundred sixty-eight
  (i) refund to such police  pension  fund  the  amount  of  all  benefits
  received by him or her from such fund, together with interest thereon at
  the  rate  of  four per centum per annum; and (ii) file with such police
  pension fund a request in writing that his or her contributions to  such
  pension  fund, including interest thereon at the rate of four per centum
  per annum be transferred by such pension fund to his or  her  credit  in
  the annuity savings fund of this retirement system; and
    (b) Pay into the annuity savings fund of this retirement system in the
  manner  provided  in paragraph four of this subdivision, an amount equal
  to the difference between:
    (i) the amount obtained:


    (1) by computing the sum which would have  been  accumulated  in  such
  annuity savings fund to his or her credit as of June thirtieth, nineteen
  hundred  sixty-eight,  if he or she had joined this retirement system on
  the date on which he or she became a member of such police pension  fund
  and  had  then  elected  to  contribute to this retirement system on the
  basis  of  a  minimum  retirement  age  of  fifty-five   years   and   a
  service-fraction  of  one  one-hundredth, and had so contributed without
  election to cease contributing; and
    (2) by subtracting from such amount computed pursuant to sub-item  one
  of  this  item, the portion, if any, of such amount, which portion would
  constitute excess contributions subject  to  his  withdrawal  under  any
  provision  of  this  chapter  which governs the right to withdraw excess
  contributions and which is or becomes applicable to such member  at  any
  time  during  the  period  herein  allowed  him  or  her for making such
  payment; and
    (ii) the sum of (1) the amount  of  his  or  her  contributions,  plus
  interest  thereon,  transferred  from  such  police pension fund to this
  retirement system pursuant to subparagraph (b)  of  paragraph  three  of
  this  subdivision,  and  (2) the amount of the accumulated deductions to
  his or her credit in  this  retirement  system  as  of  June  thirtieth,
  nineteen hundred sixty-eight.
    (3)  (a) Upon tender by such member to such police pension fund of the
  amount required to be refunded to such pension fund under the provisions
  of item (i) of subparagraph (a) of paragraph two  of  this  subdivision,
  such pension fund shall accept such amount.
    (b)  Upon  refund of benefits to such police pension fund and upon the
  filing of such request for transfer of such  member's  contributions  to
  such  pension  fund,  with  interest  at the rate of four per centum per
  annum thereon, pursuant to subparagraph (a) of  paragraph  two  of  this
  subdivision,  such  pension  fund  shall transfer such contributions and
  interest to this retirement system, which shall deposit such sum to such
  member's credit in the annuity savings fund.
    (c) Upon request of such member, he or she shall be permitted  to  pay
  into  the  annuity savings fund of this retirement system, to his or her
  credit, the sums  required  to  be  so  paid  under  the  provisions  of
  subparagraph (b) of paragraph two of this subdivision and paragraph four
  of this subdivision.
    (4) Such member may effect the payment required in subparagraph (b) of
  paragraph two of this subdivision:
    (a)  in  installments pursuant to an application duly executed by such
  member and filed with the retirement system, consenting that  deductions
  be  made  from  his or her compensation at double his or her normal rate
  per centum of contributions and paid to  his  or  her  credit  into  the
  annuity  savings fund, until such payment is thereby completed; provided
  that such member may at any  time  during  the  period  of  such  double
  deductions  pay  in  a lump sum the total of the remaining sums to be so
  paid through deductions.
    (b) by making such payment in a  lump  sum  not  later  than  December
  thirty-first, nineteen hundred sixty-eight.
    (5) Upon completion of compliance by such member with the requirements
  of  item  (i)  of subparagraph (a) of paragraph two of this subdivision,
  and upon transfer of such member's contributions, with interest thereon,
  from such police pension fund to  this  retirement  system  pursuant  to
  subparagraph  (b)  of  paragraph  three of this subdivision, such police
  pension fund shall be discharged of  all  further  obligations  to  such
  member.
    (6)  (a)  Upon  completion  of  compliance  by  such  member  with the
  requirements of paragraphs two and four of this subdivision, the  period


  of  service  set  forth  in paragraph one of this subdivision, for which
  such member has thereby elected to obtain  credit  under  this  section,
  shall  be credited as allowable city-service of such member, in addition
  to any other service creditable to him or her.
    (b)  Credit  for  such  service obtained pursuant to this subdivision,
  including credit for service obtained pursuant  to  paragraph  seven  of
  this  subdivision, shall be used in determining eligibility for benefits
  as well as amount of benefits.
    (7) Notwithstanding any provision of the preceding paragraphs of  this
  subdivision  to the contrary, if such member shall pay a part of but not
  the entire sum required to be paid under subparagraph (b)  of  paragraph
  two  of  this  subdivision  and paragraph four of this subdivision, such
  member shall be credited, in addition to any other service creditable to
  him or her, with  a  portion  of  the  total  period  of  the  allowable
  city-service to which he or she would be entitled under this subdivision
  upon  full  payment  of  such sum, which portion bears the same ratio to
  such total period as the total sum so paid by such member bears  to  the
  entire  sum  required to be paid under subparagraph (b) of paragraph two
  and paragraph four of this subdivision.