2006 New York Code - Transfer Of Retirement System Membership Of Certain Marine Personnel.

 
    §  13-145  Transfer  of retirement system membership of certain marine
  personnel. a. Any member of the retirement system who serves in the fire
  department  of  the  city  as  a  pilot,  marine  engineer  (uniformed),
  assistant  marine engineer (uniformed) or wiper (uniformed) may transfer
  his or her membership in the  retirement  system  to  the  pension  fund
  maintained  pursuant to subchapter two of chapter three of this title by
  filing  with  the  board,  prior  to  January  first,  nineteen  hundred
  seventy-one,  a  written  application,  duly  executed and acknowledged,
  requesting such transfer.
    b. Upon the filing of such application, the  retirement  system  shall
  transfer  to  the  retirement  allowance  accumulation fund of such fire
  department pension fund subchapter two, in the manner  provided  for  in
  section  forty-three  of  the  retirement  and  social security law, the
  reserve on the benefits allowable to such member as a result of employer
  contributions,  including  the  reserve-for-increased-take-home-pay.  In
  addition, the retirement system shall thereupon transfer the accumulated
  deductions  of  such  member (as they would be in the absence of a loan,
  less the unpaid balance of any  outstanding  loan)  to  such  retirement
  allowance  accumulation  fund,  after  deducting  from  such accumulated
  deductions, as so computed, all regular interest which, if  such  member
  had  not  elected  to transfer his or her membership, would constitute a
  part of the accumulated deductions of such member, as they would  be  in
  the  absence of a loan. The amount of interest so deducted shall be paid
  into the contingent reserve fund of  the  retirement  system  and  shall
  become the property of such system.
    c. Any such transferred member:
    (1)  shall  be  deemed  to  have  been a member of the fire department
  pension fund subchapter two during the period wherein he or she rendered
  credited service, after last becoming a member of the retirement system,
  in one or more of the positions in  the  fire  department  mentioned  in
  subdivision a of this section; and
    (2)   shall,  for  purposes  of  benefit,  but  not  for  purposes  of
  eligibility for benefit, be credited in the fire department pension fund
  subchapter two with all service which (i) prior  to  such  transfer  was
  rendered  by  such  member  in  any  position  other  than the positions
  mentioned in subdivision a of this section and (ii) was credited to such
  member in the retirement  system  after  his  or  her  last  entry  into
  membership in such system.
    d.  The rate of contribution of any member who elects such transfer of
  membership shall, on and after the date of the  filing  of  his  or  her
  application   therefor,  be  that  (before  any  reduction  in  rate  of
  contribution to which such member, after such election, may be  entitled
  by           reason           of          any          plan          for
  pensions-providing-for-increased-take-home-pay) at which he or she would
  have been contributing on such date to the fire department pension  fund
  subchapter two if:
    (1)  such member had been appointed a firefighter on the earliest date
  on which, after last becoming a member of the retirement system,  he  or
  she  began  service  in  one  of  the  positions  in the fire department
  mentioned in subdivision a of this section; and
    (2) such member had then elected  to  become  a  member  of  the  fire
  department pension fund subchapter two; and
    (3)  such  member  had  then  elected, as his or her minimum period of
  service for retirement,  the  minimum  period  elected  by  him  or  her
  pursuant  to  section  13-350  of  chapter  three of this title upon the
  transfer of his or her membership pursuant to this section.
    e. (1) Notwithstanding the provisions of subdivision b of this section
  relating to a transfer of reserve-for-increased-take-home-pay, any  such


  transferred  member  shall  not  be  entitled, on the date on which such
  member's   application   for    a    transfer    is    filed,    to    a
  reserve-for-increased-take-home-pay  which  is  greater  than the amount
  which such reserve would have equalled if he or she had been a member of
  the fire department pension fund subchapter two during the entire period
  of  fire  department service mentioned in paragraph one of subdivision c
  of this section.
    (2)  Any  amount  by  which  the   reserve-for-increased-take-home-pay
  transferred  with  respect  to  any  such transferred member pursuant to
  subdivision  b  of  this  section  exceeds   the   maximum   amount   of
  reserve-for-increased-take-home-pay  prescribed  with  respect  to  such
  member by paragraph one of this subdivision e shall become the  property
  of the fire department pension fund subchapter two.
    f. With respect to each member who elects such transfer of membership,
  a comparison shall be made between:
    (1) the total amount of the member contributions actually made by such
  member  as  required contributions, from the date mentioned in paragraph
  one of subdivision d of this section up to the date of  commencement  of
  deductions  from  his  or  her  compensation  at  the  required  rate of
  contribution prescribed by such subdivision d; and
    (2) the total amount of the required member contributions which he  or
  she  would  have  made with respect to the period mentioned in paragraph
  one of this subdivision f, if he or  she  had  contributed  during  such
  period at the required rate prescribed by such subdivision d.
    g.  (1)  If  the  total  amount  computed pursuant to paragraph one of
  subdivision f of this section is less than  the  total  amount  computed
  pursuant  to  paragraph  two  of  such  subdivision f, such member shall
  contribute the amount of such deficiency, with regular interest thereon,
  to the appropriate fund of the fire department pension  fund  subchapter
  two by deductions from his or her compensation at a rate elected by such
  member,  which  shall  not  be  less  than  five  per cent of his or her
  compensation. The actuarial equivalent of any balance of such deficiency
  which remains unpaid at the time any benefit under such pension fund may
  become payable to or with respect to such member shall be deducted  from
  the benefit otherwise payable.
    (2)  If  the  total  amount  computed  pursuant  to  paragraph  one of
  subdivision f of this section is more than  the  total  amount  computed
  pursuant  to  paragraph  two  of  such subdivision f, the amount of such
  excess shall be refunded to such member by the fire  department  pension
  fund subchapter two, without interest.
    h.  In  any case where, at the time when any such member seeks to file
  such an  application  for  transfer  of  membership,  any  part  of  the
  principal  or  interest  with  respect  to  any loan made by such member
  pursuant to section 13-140 of this chapter remains  unpaid,  he  or  she
  shall  not  have  the right to make such election unless he or she shall
  execute and acknowledge, and file with the board,  a  written  agreement
  providing that from and after the execution of such agreement all of his
  or her obligations and rights with respect to the principal and interest
  remaining  unpaid  on  such  loan shall be governed by section 13-342 of
  this title and that the terms and conditions of such loan may be changed
  or modified by the board of trustees of the fire department pension fund
  subchapter two with  respect  to  any  principal  thereof  and  interest
  thereon  remaining  unpaid,  so  as  to  conform  with the provisions of
  section 13-342 of this title.
    i. Any member who elects such transfer of  membership  may,  prior  to
  certification   of  his  or  her  rate  of  contribution  prescribed  by
  subdivision d of this section, make the election of a minimum period  of
  service for retirement provided for by section 13-350 of this title.


    j.  Any member who elects such transfer of membership shall be subject
  to  mandatory  retirement  upon  attainment  of  age  sixty-five   under
  subdivision  a  of  section 15-121 of the code in the same manner as any
  other member of the uniformed force who is not a medical officer.