There is a newer version of the New York Consolidated Laws
2006 New York Code - Optional Service Retirement For Certain Officers And Employees Of The New York City Transit Authority After Twenty Years Of Designated Service, With
§ 13-161 Optional service retirement for certain officers and
employees of the New York city transit authority after twenty years of
designated service, with retirement allowance payable at or after age
fifty. a. For the purposes of this section, the following terms shall
mean and include:
1. "Transit hourly-paid employee." A person holding a position in
group one of the rapid transit railroad service, as classified by the
city civil service commission.
2. "Transit annually-paid employee." A person who is employed by the
transit authority in a position or classification of positions to which
the provisions of this section have been made applicable by a resolution
adopted by such authority pursuant to paragraph one of subdivision k of
this section, and who is not a transit hourly-paid employee.
3. "Transit annually-paid operating employee." A transit annually-paid
employee who holds a position in group two of the rapid transit railroad
service, as classified by the city civil service commission.
4. "Transit annually-paid non-operating employee with prior transit
service." A transit annually-paid employee who holds a position which is
not in the rapid transit railroad service, as classified by such
commission, and who held any such position on the date of effectiveness
of a resolution of the transit authority making the provisions of this
section applicable to such position.
5. "Subsequently appointed transit annually-paid non-operating
employee." A transit annually-paid employee who holds a position which
is not in the rapid transit railroad service and who was appointed to
any such position for the first time after the date of effectiveness of
a resolution of the transit authority making the provisions of this
section applicable to such position.
6. "Initial date of retirement allowance payability." The earliest
date as of which payment of a member's retirement allowance may be
caused by such member to commence under the provisions of this section.
7. "Transit authority." The New York city transit authority.
8. "Transit service." (a) In the case of any member who is a transit
hourly-paid employee or transit annually-paid operating employee or
subsequently appointed transit annually-paid non-operating employee,
such term shall mean allowable service with the transit authority in any
one or more of such capacities.
(b) In the case of any member who is a transit annually-paid
non-operating employee with prior transit service, such term shall mean
allowable city-service, but shall not include city-service rendered on
or after July first, nineteen hundred sixty-eight, in other than a
position with the transit authority.
b. (1) Any member who is in service as a transit hourly-paid employee
with the transit authority on the first day of July, nineteen hundred
sixty-eight, may elect, by a written application duly executed and
acknowledged and filed with the board of estimate prior to the first day
of January, nineteen hundred sixty-nine, to contribute to the retirement
system for the right to retire as provided in this section after twenty
years of transit service, with retirement allowance payable at or after
age fifty. Such election shall be subject to the provisions of
subdivision l of this section.
(2) Subject to the provisions of subdivision l of this section, the
rate of contribution, on and after July first, nineteen hundred
sixty-eight, of any such member making such election shall 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) which would have been
established for such member if (a) at the time of his or her appointment
as a transit hourly-paid employee with such authority, there had been
available to him or her an optional plan providing for service
retirement upon his or her completion of twenty years of transit service
and payment, not earlier than attainment of age fifty, of a retirement
allowance for the first twenty years of such service, consisting of a
pension and an annuity which together would equal one-half of the
member's salary or compensation earnable by him or her in the year prior
to his or her retirement, and (b) such member had, at the time of such
appointment, elected the benefits of such plan and (c) his or her rate
of contribution had then been fixed as a proportion of his or her
compensation which, when deducted from each payment of his or her
prospective earnable compensation prior to the completion of his or her
twentieth year of transit service and accumulated at regular interest
until completion of such twenty years of transit service, would be
computed to provide an annuity, which, as of the initial date of
retirement allowance payability with respect to such member, would be
equal to twenty-five seventy-fifths of the pension allowable to him or
her for such minimum period of service under the provisions of this
section.
(3) Any member who was in service as a transit hourly paid employee
with the transit authority on the first day of July, nineteen hundred
sixty-eight, and any person who was appointed a transit hourly paid
employee with the transit authority on or after the first day of July,
nineteen hundred sixty-eight, who did not elect the benefits of
subdivision b of this section within the time therein provided for such
election, may elect, by a written election duly executed and
acknowledged and filed with the board prior to the last day of December,
nineteen hundred sixty-nine, to contribute to the retirement system for
the right to retire after twenty years of allowable service as a transit
hourly paid employee with the transit authority. All contributions and
benefits payable by or on account of such member shall be computed on
the basis of such right to retire after twenty years of allowable
service as a transit hourly paid employee with the transit authority, as
if he or she had made such election within the time prescribed by
subdivision b of this section.
c. (1) (a) Any person who is appointed a transit hourly-paid employee
with the transit authority after the first day of July, nineteen hundred
sixty-eight, may, in the manner hereinafter provided in this paragraph
one, elect the right to retire as provided in this section after
completion of twenty years of transit service, with retirement allowance
payable at or after age fifty.
(b) Such person may make such election by executing and acknowledging
a written election to such effect and by filing such election with the
board:
(i) prior to certification of his or her rate of contribution, if such
person is not a member of the retirement system at the time of such
appointment; and
(ii) Within thirty days after such appointment, if such person is a
member of the retirement system at the time of such appointment.
(c) In the case of any such election made by a member on or after July
first, nineteen hundred sixty-eight and prior to July first, nineteen
hundred seventy, such election shall constitute an election to
contribute while a transit twenty-year plan member (as defined in
subdivision sixty-one of section 13-101 of this chapter) to the
retirement system for such right at the rate of contribution prescribed
by paragraph three of this subdivision c; provided, however that if such
member is relieved, pursuant to the provisions of subdivision l of this
section, of the making of contributions, such member shall be required
to contribute at such rate until the effective date of such relief.
(2) Notwithstanding the provisions of paragraph one of this
subdivision c, any person who (a) is appointed a transit hourly-paid
employee with the transit authority after July first, nineteen hundred
sixty-eight and (b) had prior membership in the retirement system as a
transit hourly-paid employee or transit annually-paid employee occurring
after July first, nineteen hundred sixty-eight and prior to such
appointment, and (c) did not elect the benefits of this section during
such prior membership mentioned in sub-paragraph (b) of this paragraph
two, or, after having made such election, withdrew same, shall not be
eligible to elect the benefits of this section, whether or not he or she
is a member of the retirement system at the time of such appointment.
(3) Subject to the provisions of subdivision l of this section, upon
the basis of the tables herein authorized and regular interest, the
actuary of such board shall determine for each such person making such
election pursuant to this subdivision c, the proportion of compensation
which, when deducted from each payment of his or her prospective
earnable compensation prior to his or her completion of his or her
twentieth year of transit service and accumulated at regular interest
until completion of such twenty years of transit service, shall be
computed to provide an annuity which, as of the initial date of
retirement allowance payability with respect to such member, shall be
equal to twenty-five seventy-fifths of the pension then allowable to him
or her for such minimum period of service under the provisions of this
section.
d. (1) At any time subsequent to one year after the filing of an
election of the benefits of this section by any transit hourly-paid
employee or transit annually-paid employee pursuant to this section, he
or she may withdraw such election by making, acknowledging and filing
with the board a written withdrawal. Thereafter the provisions of this
section shall be inapplicable to such member and he or she shall not be
eligible to elect again the benefits of this section.
(2) In any case where any member who is a transit hourly-paid employee
or transit annually-paid employee with the transit authority has elected
the benefits of this section and shall thereafter, and before he or she
acquires a vested right to a retirement allowance under this section,
change his or her status so that he or she is neither a transit
hourly-paid employee nor a transit annually-paid employee with such
authority, the provisions of this section, notwithstanding any other
provision of this title, shall be inapplicable to such member during any
such period wherein he or she does not hold either such position.
(3) (a) During any period wherein the provisions of this section are
inapplicable, under the provisions of paragraph one of this subdivision
d, to any member who is a transit hourly-paid employee or transit
annually-paid employee:
(i) if the service of such member with the transit authority as such
employee began prior to July first, nineteen hundred sixty-eight, his or
her minimum retirement age, service-fraction and normal rate of
contribution shall be as they were immediately prior to his or her
election of the benefits of this section;
(ii) if the service of such member with the transit authority as such
employee began after June thirtieth, nineteen hundred sixty-eight, the
minimum retirement age of such member shall be fifty-five years, his or
her pension shall be as prescribed by paragraph six of subdivision a of
section 13-172 of this chapter for the years of his or her allowable
service therein mentioned and his or her normal rate of contribution
shall be that which would have been fixed for such member if at the time
when his or her last membership in the retirement system began, he or
she had elected to contribute to the retirement system as provided for
in such paragraph six.
(b) (i) During any period wherein the provisions of this section are
inapplicable, under the provisions of paragraph two of this subdivision
d, to a member, then unless such member shall become eligible for and
acquire by election or otherwise pursuant to the provisions of this
title, rights or status other than as hereinafter set forth in this
subparagraph (b), the rights and status of such member with respect to
minimum retirement age, service-fraction, rate of contribution and
privilege of electing any optional plan of retirement shall, except as
otherwise provided in item (ii) of this subparagraph (b), be as they
would be if the last membership of such member in the retirement system
began on such date on which the provisions of this section became
inapplicable to such member and such member was not on such date in
service with the transit authority.
(ii) During the period of three years after such date on which the
provisions of this section became inapplicable to such member, then
unless he or she acquires other rights and status pursuant to other
applicable provisions of this chapter:
(1) his or her eligibility for service retirement and his or her
retirement allowance, if the service of such member with the transit
authority began prior to July first, nineteen hundred sixty-eight, shall
be determined in the same manner as if he or she had not elected the
benefits of this section; and
(2) his or her eligibility for service retirement and his or her
retirement allowance, if the service of such member with the transit
authority began after June thirtieth, nineteen hundred sixty-eight,
shall be determined on the basis of a minimum retirement age of
fifty-five and a pension computed pursuant to paragraph six of
subdivision a of section 13-172 of this chapter for the years of
allowable service of such member mentioned in such subdivision.
(c) During any period wherein the provisions of this section are
inapplicable to any member under the provisions of paragraph one or two
of this subdivision d, the eligibility and rights of such member with
respect to benefits under this chapter shall be governed, subject to the
provisions of subparagraphs (a) and (b) of this paragraph three, by the
applicable provisions of this chapter in the same manner as if such
member had not elected the benefits of this section.
e. (1) Any member who (a) has elected optional retirement pursuant to
this section and (b) has not withdrawn such election and (c) has
completed twenty years of transit service, and (d) is a transit
hourly-paid employee or transit annually-paid employee at the completion
of such period of service, shall have, effective with the date on which
he or she has completed such twenty years of transit service, a vested
right to a retirement allowance, and to retire for service, subject to
the provisions hereinafter set forth in this subdivision e and the
applicable provisions of this section.
(2) Subject to the provisions of paragraph four of this subdivision e,
any such member who meets the conditions specified in paragraph one of
this subdivision e, and who is in city-service as a transit hourly-paid
employee or as a transit annually-paid employee and who has not
withdrawn his or her accumulated deductions, except as permitted by
subdivision c of section 13-140 of this chapter, and except as such
deductions or any portion thereof may be paid pursuant to subparagraph
(d) of paragraph six of this subdivision e, may retire upon his or her
own request, regardless of age, upon written application to the board
setting forth at what time, not less than thirty days subsequent to the
execution and filing thereof, he or she desires to be retired, and, upon
the effective date of his or her retirement, or his or her attainment of
age fifty, whichever is the later, such member shall be paid a
retirement allowance calculated pursuant to the provisions of
subdivisions f, g and h of this section.
(3) If any such member dies on or after the effective date of his or
her retirement and before the first payment on account of his or her
retirement allowance is made, then such member, whether or not he or she
has selected any option, shall be deemed to have selected option one,
and any beneficiary under such option one shall be eligible for benefits
under such option as of the date of such death but not earlier than the
date upon which such member would have reached the age of fifty years.
(4) Notwithstanding any other provisions of this section, or the
provisions of any other section of the code to the contrary, in any case
where any member who has a vested right to a retirement allowance under
the provisions of this section is dismissed for cause by the transit
authority, such dismissal shall in no wise impair or defeat such vested
right to a retirement allowance, or his or her right to retire from the
retirement system as provided in this section, except only as provided
in paragraphs five and six of this subdivision. Where any member who has
such a vested right is so dismissed for cause, and such vested right,
under the provisions of this paragraph four, is not thereby defeated,
such member shall be deemed to have been retired for service as of the
date of such dismissal. In any case where any member who has such a
vested right is, on any basis other than cause, removed or otherwise
involuntarily separated from city-service as a transit hourly-paid
employee or transit annually-paid employee, such member shall be deemed
to have been retired for service as of the date on which such removal or
separation becomes effective.
(5) (a) In the event that any such member who has a vested right to a
retirement allowance shall, prior to the effective date of his or her
retirement, be dismissed from the service of the transit authority
because of drunkenness on duty or because of theft of transit authority
property, then upon such dismissal his or her rights as a member shall
cease and terminate and the retirement system shall be discharged of all
further obligations to such member, except that he or she shall have a
right to a return of his or her accumulated deductions, if any.
(b) For the purpose of this paragraph five, "theft of transit
authority property" shall be construed to include:
(i) any case where a member wilfully takes or retains, for his or her
own use or benefit:
(1) moneys or property belonging to or under the jurisdiction of the
transit authority; or
(2) moneys or property belonging to any passenger, provided such
taking or retention occurs while such passenger is upon or using any of
the transit facilities under the jurisdiction of the transit authority;
and
(ii) any acceptance from the transit authority of wages or sick pay
for time actually worked for any employer other than such authority.
(6) (a) In the event that any such member who has a vested right to a
retirement allowance, shall, prior to the effective date of his or her
retirement, be arrested or indicted on a criminal charge which is a
felony under the laws of the state of New York, or of the United States,
his or her vested right to a retirement allowance shall be temporarily
divested and he or she shall be temporarily divested of the right to
retire under this section, subject to the provisions of subparagraph (b)
of this paragraph six.
(b) If, during the twelve-month period subsequent to such arrest or
indictment, whichever occurs first, such member is convicted of a felony
in the prosecution instituted by such arrest or indictment, then upon
such conviction, his or her vested right to a retirement allowance shall
be permanently divested and forfeited and his or her membership in the
retirement system shall cease and terminate, and the retirement system
shall be discharged of all further obligations to such member, except
that he or she shall have a right to a return of his or her accumulated
deductions, if any, less any payments made to such member pursuant to
subparagraph (d) of this paragraph six.
(c) If such member is not so convicted, then upon the expiration of
such twelve-month period or upon his or her earlier acquittal of the
felony or felonies charged in such prosecution, his or her vested right
to a retirement allowance and to retire under this section shall be
reinstated and if such member had filed an application for retirement
under paragraph two of this subdivision e, the effective date of his or
her retirement and the initial date of retirement allowance payability
with respect to such member shall be the same as if such temporary
divestment had not occurred.
(d) Any such member who has attained the age of fifty years and who
has filed an application for retirement under paragraph two of this
subdivision e and whose right to retire has been temporarily divested
pursuant to subparagraph (a) of this paragraph six, shall, if he or she
is then credited with accumulated deductions, have the right, upon his
or her written election filed with the board, to receive each month from
the retirement system, after the date on which his or her retirement
would otherwise become effective and during such period of temporary
divestment, an amount to be designated by him or her, not in excess of
the amount of the monthly benefit which would have been payable to such
member if his or her right to retire had not been temporarily divested,
provided that the total of such payments to him or her shall not exceed
the amount of his or her accumulated deductions after reduction of same
by the amount of any outstanding loan. In the event that the right of
such member to retire is reinstated pursuant to the provisions of
subparagraph c of this paragraph six, such payments shall be deemed to
be and treated as payments on account of his or her retirement
allowance.
(e) In any case where any such member files an application for
retirement and his or her right to retire is temporarily divested under
the provisions of subparagraph (a) of this paragraph six, the employment
of such member by the transit authority or the holding of office by such
member with the authority, as the case may be, shall for all purposes
cease and terminate on the date on which his or her retirement would
otherwise become effective, whether or not such member be convicted in
the prosecution causing such temporary divestment.
f. A member who has retired under this section shall receive, on
account of the first twenty years of his or her transit service and in
lieu of any other retirement allowance for such twenty years of service,
a retirement allowance consisting of:
(1) An annuity which shall be, subject to the provisions of
subdivision g of this section, the actuarial equivalent, as of the date
on which such member's retirement allowance becomes payable, of the
accumulated deductions from his or her pay, if any, during such period
of twenty years of transit service (including regular interest to and
including the completion of such period of twenty years of service); and
(2) A pension-providing-for-increased-take-home-pay which is the
actuarial equivalent, as of the date on which such member's retirement
allowance becomes payable, of the reserve-for-increased-take-home-pay,
if any, to which he or she may be entitled for such period of twenty
years of transit service (including regular interest to and including
the completion of such period of twenty years of service); and
(3) A pension, which, when added to such annuity, if any, and such
pension-providing-for-increased-take-home-pay, if any, produces a
retirement allowance equal to one-half of his or her salary or
compensation earnable by such member for transit service in the year
prior to his or her retirement.
g. For the purpose only of determining the amount of the pension
payable pursuant to paragraph three of subdivision f of this section,
the annuity referred to in paragraph one of such subdivision, if any,
shall be computed, as it would be, (1) if it were not reduced by the
actuarial equivalent of any outstanding loan, (2) if it were not
increased by the actuarial equivalent of any additional contributions,
(3) if it were not reduced by reason of the member's election to
decrease his or her annuity contributions in order to apply the amount
of such reduction in payment of his or her contributions for old-age and
survivors insurance coverage, and (4) as it would be without any
optional modification.
h. For allowable service rendered by such member in addition to and in
excess of such first twenty years of transit service, such member shall
receive, in addition to the retirement allowance to which he or she is
entitled under subdivision f of this section and in lieu of any other
retirement allowance for such additional and excess allowable service:
(1) an annuity, if any, which shall be computed in the following
manner:
(a) there shall be added together: (i) the total amount of the
accumulated deductions of such member, if any, whenever made, as the
same are on the date on which such member's retirement allowance becomes
payable, including all voluntary, additional contributions, whenever
made; and (ii) the amount of any loan to such member outstanding as of
such date;
(b) there shall be determined the amount of the accumulated
deductions, if any, credited to such member with respect to the first
twenty years of his or her transit service, as such deductions were at
the completion of such first twenty years of service (i) exclusive of
the value, as of the date of completion of such period of service, of
all of his or her voluntary, additional contributions made with respect
to such period of twenty years, and (ii) exclusive of the value, as of
such date of completion, of any accumulated deductions, including
voluntary, additional contributions, credited with respect to any period
of allowable service (other than transit service) rendered by such
member prior to completion of such period of twenty years of service,
and (iii) treating such accumulated deductions with respect to such
first twenty years of transit service as they would be if not reduced by
any loan made by such member:
(c) the annuity to which such member shall be entitled under this
paragraph one, if any, shall be the actuarial equivalent, as of the date
on which such member's retirement allowance becomes payable, of the
remainder obtained by subtracting the sum computed pursuant to
subparagraph (b) of this paragraph one from the sum computed pursuant to
subparagraph (a) of this paragraph; and
(2) a pension which shall be equal to one service-fraction of his or
her final compensation multiplied by the number of his or her years of
allowable service, other than such twenty years of transit service; and
(3) a further pension of one-half of one service-fraction of his or
her final compensation multiplied by the number of his or her years of
transit service rendered both (i) after the completion of such period of
twenty years of transit service and (ii) on or after July first,
nineteen hundred sixty-eight; and
(4) a pension-providing-for-increased-take-home-pay which shall be the
actuarial equivalent, as of the date on which such member's retirement
allowance becomes payable, of the reserve-for-increased-take-home-pay to
which he or she may be entitled, if any, for all periods of his or her
allowable service other than such period of twenty years of transit
service.
i. Notwithstanding any other provision of this chapter, the
service-fraction of any transit hourly-paid employee or transit
annually-paid employee who elects the benefits of this section shall,
for the purpose of determining his or her retirement allowance under
this section, be one one-hundredth of his or her final compensation.
j. In any case where, with respect to any period wherein the
provisions of this section are applicable to a transit hourly-paid
employee or transit annually-paid employee by reason of his or her
election of the benefits hereof, deductions are required to be made from
his or her compensation pursuant to the provisions of subdivision one of
section 13-108 of this chapter by reason of an application for service
credit filed by him or her under such section, such deductions with
respect to such period shall, subject to the provisions of subdivision
three of such section, be made on the basis of his or her normal rate of
contribution under the provisions of this section.
k. (1) The transit authority shall have power and authority to make
the provisions of this section applicable to officers and employees
holding such positions or employed in such classifications of positions
(other than positions of transit hourly-paid employees) as it shall
designate by one or more resolutions adopted by it on or before July
first, nineteen hundred sixty-nine. Such applicability shall commence on
the date of effectiveness specified in any such resolution, which date
shall not be earlier than July first, nineteen hundred sixty-eight, nor
later than July first, nineteen hundred sixty-nine.
(2) Any member who becomes a transit annually-paid employee by virtue
of such a resolution and who is in service in a position as such
employee with the transit authority on the date of effectiveness
specified in such resolution, may, by a written application duly
executed and acknowledged and filed with the board of estimate within
six months from such date of effectiveness, elect to contribute to the
retirement system for the right to retire after completion of twenty
years of transit service, with retirement allowance payable at or after
age fifty.
(3) Subject to the provisions of subdivision l of this section, the
rate of contribution, on and after such date of effectiveness, of any
such member making such election shall 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) which would have been
established for such member if (a) at the time of his or her appointment
as a transit annually-paid employee which such authority, if such member
is a transit annually-paid operating employee or subsequently appointed
transit annually-paid non-operating employee, or, at the time of his or
her last entry into city-service, if such member is a transit
annually-paid non-operating employee with prior transit service, there
had been available to him or her an optional plan for service retirement
upon his or her completion of twenty years of transit service, and
payment, not earlier than attainment of age fifty, of a retirement
allowance for the first twenty years of such service, consisting of a
pension and an annuity, which together would equal one-half of the
member's salary or compensation earnable by him or her for transit
service in the year prior to his or her retirement, and (b) such member
had elected the benefits of such plan at the time of such appointment or
last entry into city-service, as the case may be, and (c) his or her
rate of contribution had been fixed, at such time of appointment or last
entry into city-service, as the case may be, as a proportion of his or
her compensation which, when deducted from each payment of his or her
prospective earnable compensation prior to the completion of his or her
twentieth year of transit service and accumulated at regular interest
until completion of such twenty years of transit service, would be
computed to provide an annuity which, as of the initial date of
retirement allowance payability with respect to such member, would be
equal to twenty-five seventy-fifths of the pension allowable to him or
her for such minimum period of service under the provisions of this
section.
(4) (a) Any person who is appointed after the date of effectiveness of
any such resolution, to a position with the transit authority to which
the provisions of this section are made applicable by such resolution,
may, in the manner hereinafter provided in this paragraph four, elect
the right to retire as provided in this section upon completion of
twenty years of transit service, with retirement allowance payable at or
after age fifty.
(b) Such person may make such election by executing and acknowledging
a written election to such effect and by filing such election with the
board:
(i) prior to certification of his or her rate of contribution, if such
person is not a member of the retirement system at the time of such
appointment; and
(ii) within thirty days after such appointment, if such person is a
member of the retirement system at the time of such appointment.
(c) In the case of any such election made by a member after such date
of effectiveness and prior to July first, nineteen hundred seventy, such
election shall constitute an election to contribute while a transit
twenty-year plan member (as defined in subdivision sixty-one of section
13-101 of this chapter) for such right to the retirement system at the
rate of contribution prescribed by paragraph six of this subdivision k;
provided, however, that if such member is relieved, pursuant to the
provisions of subdivision l of this section, of the making of
contributions, such member shall be required to contribute at such rate
until the effective date of such relief.
(5) Notwithstanding the provisions of paragraph four of this
subdivision k, any person who is appointed a transit annually-paid
employee with the transit authority after July first, nineteen hundred
sixty-eight and who, prior to such appointment as a transit
annually-paid employee, had prior membership in the retirement system as
a transit annually-paid employee or transit hourly-paid employee and did
not elect the benefits of this section during such prior membership, or,
after having made such election, withdrew same, shall not be eligible to
elect the benefits of this section, whether or not he or she is a member
of the retirement system at the time of such appointment.
(6) Subject to the provisions of subdivision l of this section, upon
the basis of the tables herein authorized and regular interest, the
actuary of such board shall determine for each transit annually-paid
employee making such election pursuant to paragraph four of this
subdivision k, the proportion of compensation which, when deducted from
each payment of his or her prospective earnable compensation prior to
his or her completion of his or her twentieth year of transit service
and accumulated at regular interest until completion of such twenty
years of transit service, shall be computed to provide an annuity which
as of the initial date of retirement allowance payability with respect
to such member, shall be equal to twenty-five seventy-fifths of the
pension then allowable to him or her for such minimum period of service
under the provisions of this section.
l. (1) A transit twenty-year plan member (as defined in subdivision
sixty-one of section 13-101 of this chapter) who is in service with the
transit authority on June thirtieth, nineteen hundred seventy as a
transit hourly-paid employee may elect, by a written application duly
executed and acknowledged and filed with the board prior to January
first, nineteen hundred seventy-one, to be relieved, pursuant to the
provisions of paragraph two of this subdivision l, of making further
contributions and to qualify for retirement under the provisions of this
section without making further contributions.
(2) Any such member who makes such an election shall not, commencing
with his or her payroll period, the first day of which is next after
July first, nineteen hundred seventy and thereafter while he or she
remains a transit twenty-year plan member, be required to make further
contributions to the retirement system as provided in paragraphs one and
two of subdivision b of this section or paragraphs one and three of
subdivision c of this section, whichever are applicable to him or her,
and commencing with such payroll period and thereafter while he or she
remains a transit twenty-year plan member, the making of further
deductions from his or her compensation as provided for in such
applicable paragraphs shall not be required.
(3) Any person who is appointed a transit hourly-paid employee on or
after July first, nineteen hundred seventy and who elects to become a
transit twenty-year plan member shall not, while he or she remains a
transit twenty-year plan member, be required to make contributions to
the retirement system as provided for in paragraph three of subdivision
c of this section and while he or she remains a transit twenty-year plan
member, no deductions from his or her compensation shall be made as
provided for in such paragraph three.
(4) (a) The transit authority shall have full power and authority, by
resolution or resolutions adopted on or before July first, nineteen
hundred seventy-one, to designate as eligible for the election described
in subparagraph (b) of this paragraph four, one or more categories, as
it may determine, of transit twenty-year plan members, who, as of the
effective date of any such resolution applicable to their category
(which date shall not be earlier than July first, nineteen hundred
seventy or later than July first, nineteen hundred seventy-one) are in
the service of the transit authority as transit annually-paid operating
employees, transit annually-paid non-operating employees with prior
transit service or subsequently appointed transit annually-paid
non-operating employees.
(b) Any such resolution may provide that such eligible members therein
designated, may, by a written application duly executed and acknowledged
and filed with the board no later than six months after such effective
date, elect to be relieved, pursuant to the provisions of paragraph five
of this subdivision l, of making further contributions and to qualify
for retirement under the provisions of this section without making
further contributions.
(5) Any such member who makes such election pursuant to paragraph four
of this subdivision l shall not, on or after the effective date of such
resolution applicable to him or her and thereafter while he or she
remains a transit twenty-year plan member, be required to make further
contributions to the retirement system as provided in paragraphs two and
three of subdivision k of this section or paragraphs four and six of
such subdivision, whichever of such paragraphs are applicable to him or
her, and commencing on such effective date and thereafter while he or
she remains a transit twenty-year plan member, the making of further
deductions, as provided for in such applicable paragraphs, from his or
her compensation shall not be required.
(6) (a) The transit authority shall have full power and authority, by
resolution or resolutions adopted on or before July first, nineteen
hundred seventy-one, to designate as non-contributory members as
provided for in subparagraph (b) of this paragraph six, one or more
categories, as it may determine, of persons who, after the effective
date of any such resolution applicable to their category (which date
shall not be earlier than July first, nineteen hundred seventy or later
than July first, nineteen hundred seventy-one) are appointed transit
annually-paid operating employees, transit annually-paid non-operating
employees with prior transit service or subsequently appointed transit
annually-paid non-operating employees and who become transit twenty-year
plan members.
(b) Any such member designated as a non-contributory member pursuant
to subparagraph (a) of this paragraph six shall not, while he or she
remains a transit twenty-year plan member be required to make
contributions to the retirement system as provided for in paragraph six
of subdivision k of this section and while he or she remains a transit
twenty-year plan member, no deductions from his or her compensation
shall be made as provided for in such paragraph six.
(7) In any case where any deductions from the compensation of a
twenty-year pension plan member are made as contributions under the
applicable provisions of subdivision b, c or k of this section with
respect to any period in relation to which, under the foregoing
provisions of this subdivision l, he or she is relieved of making
contributions, such deductions shall be refunded to such member, without
interest.
(8) Nothing contained in the foregoing paragraphs of this subdivision
l shall be construed to require that a normal rate of contribution
heretofore assigned to a transit twenty-year plan member pursuant to the
provisions of paragraphs one and two of subdivision b of this section or
paragraphs one and three of subdivision c of this section or paragraphs
two and three of subdivision k of this section or paragraphs four and
six of such subdivision k, whichever of such paragraphs are applicable
to such member, shall not be retained by him or her for the purposes of
this chapter, subject to the provisions of this section, or to require
that a normal rate of contribution shall not be hereafter assigned to
and retained by a transit twenty-year plan member, pursuant to the
applicable provisions of such paragraphs of such subdivisions b, c and
k, for the purposes of this chapter, subject to the provisions of this
section.
(9) (a) In any case where any transit twenty-year plan member is
relieved, pursuant to the foregoing provisions of this subdivision l, of
making contributions, all required contributions heretofore or hereafter
made by such member during any period wherein he or she was not or is
not so relieved shall nevertheless remain required contributions
(whether or not made by him or her while a transit twenty-year plan
member) for all of the purposes of this chapter, including, but not
limited to the purposes of subdivisions f, g and h of this section, and
nothing contained in the foregoing paragraphs of this subdivision l or
any other provision of law shall be construed as changing their status
as required contributions to any other status.
(b) No contributions of a transit twenty-year pension plan member who
is so relieved shall be deemed excess contributions under subdivision c
of section 13-140 of this chapter unless such contributions, if such
member were not so relieved, would be excess contributions.
(10) (a) Any transit twenty-year plan member:
(1) who is relieved of making contributions by the provisions of
paragraphs one and two of this subdivision l, or
(ii) who is relieved of making contributions by the provisions of
paragraphs four and five of this subdivision l; may, for the purpose of
purchasing additional annuity, elect to continue to contribute to the
retirement system at the rate of two and one half per centum, five per
centum, seven and one half per centum, or ten per centum of earnable
compensation.
(b) Any contributions made by a transit twenty-year plan member
pursuant to subparagraph (a) of this paragraph ten shall be deemed to be
voluntary, additional contributions for all of the purposes of this
title, including but not limited to the purposes of subdivisions f, g
and h of this section.
(c) Such voluntary, additional contributions shall not enter into the
computation for allowance on ordinary disability retirement as described
in section 13-174 of this chapter.
m. In any case where a transit twenty-year plan member (as defined in
subdivision sixty-one of section 13-101 of this chapter) who had
membership in the retirement system immediately prior to becoming a
transit twenty-year plan member dies while a transit twenty-year plan
member but before completing twenty years of transit service, such
member, if he or she would have been eligible, on the day next preceding
the day of his or her death, to retire for service had he or she
remained a member under the retirement plan applicable to him or her
immediately before he or she became a transit twenty-year plan member,
shall be deemed to have died while a member of such immediately
preceding retirement plan.
n. (1) Notwithstanding any other provision of this section to the
contrary, any person who is a transit hourly-paid employee on June
thirtieth, nineteen hundred seventy and who is not on that date a
transit twenty-year plan member (as defined in subdivision sixty-one of
section 13-101 of this chapter) may elect, by a written application duly
executed and acknowledged and filed with the board on or after July
first, nineteen hundred seventy and prior to January first, nineteen
hundred seventy-one, the right to retire under the provisions of this
section after twenty years of transit service, with retirement allowance
payable at or after age fifty.
(2) Subject to the provisions of subdivision l of this section, the
rate of contribution, on and after July first, nineteen hundred
sixty-eight, of any such member making such election who was a transit
hourly-paid employee on June thirtieth, nineteen hundred sixty-eight and
whose last membership in the retirement system began on or before such
June thirtieth, shall be that determined in accordance with the method
of computation prescribed by paragraph two of subdivision b of this
section.
(3) Such election by a member described in paragraph two of this
subdivision n shall constitute an election to contribute on and after
July first, nineteen hundred sixty-eight to the retirement system, for
benefits as a transit twenty-year pension plan member, at the rate of
contribution prescribed by paragraph two of subdivision b of this
section; provided that if such member is relieved, pursuant to the
provisions of subdivision l of this section, of making contributions, he
or she shall not be required to make contributions on or after the
effective date of such relief.
(4) Subject to the provisions of subdivision l of this section, in the
case of any such member making such election who was appointed a transit
hourly-paid employee with the transit authority on or after July first,
nineteen hundred sixty-eight, his or her rate of contribution, on and
after the date of such appointment, shall be that determined in
accordance with the method of computation prescribed by paragraph three
of subdivision c of this section.
(5) Such election by a member described in paragraph four of this
subdivision n shall constitute an election to contribute to the
retirement system, on and after the date of his or her appointment as a
transit hourly-paid employee, for benefits as a transit twenty-year
pension plan member, at the rate of contribution prescribed by paragraph
three of subdivision c of this section; provided that if such member is
relieved, pursuant to the provisions of subdivision l of this section,
of making contributions, he or she shall not be required to make
contributions on or after the effective date of such relief.
(6) In any case where any member makes such election pursuant to
paragraph one of this subdivision n, any required contributions made by
such member in excess of those required by the applicable provisions of
paragraph three or five of this subdivision shall, to the extent of such
excess, be refunded to such member, without interest.
(7) In any case where any member makes such election pursuant to
paragraph one of this subdivision n and the required contributions made
by such member during the period specified in the applicable provisions
of paragraph three or five of this subdivision are smaller than those
required by such provisions, such member, notwithstanding any provision
of subdivision l of this section or any other provision of law to the
contrary, shall, on and after the date on which he or she makes such
election, continue to make contributions at his or her rate of
contribution as a twenty-year pension plan member until such deficiency
is satisfied.
(8) (a) Notwithstanding any other provision of this chapter to the
contrary, the reserve-for-increased-take-home-pay, if any, credited to
any member who makes such election pursuant to paragraph one of this
subdivision n shall be reduced by the applicable amount prescribed by
subparagraph (b) or (c) of this paragraph eight.
(b) In the case of any such member who was a transit hourly-paid
employee on July first, nineteen hundred sixty-eight, such reserve shall
be reduced by the amount of all sums (together with regular interest
thereon) which, if such election had not been made, would be required to
be added to such reserve as due from the city with respect to any period
or portion thereof occurring on or after July first, nineteen hundred
sixty-eight.
(c) In the case of any such member who was appointed a transit
hourly-paid employee after July first, nineteen hundred sixty-eight,
such reserve shall be reduced by the amount of all sums (together with
regular interest thereon) which, if such election had not been made,
would be required to be added to such reserve as due from the city with
respect to any period or portion thereof occurring on or after the date
on which such member was appointed a transit hourly-paid employee.
(d) The amount of such reduction prescribed by subparagraph (b) or (c)
of this paragraph eight shall become the property of the retirement
system.
(9) Notwithstanding any other provision of this section to the
contrary, any person who is appointed a transit hourly-paid employee on
or after July first, nineteen hundred seventy, may elect the right to
retire as provided in this section after completion of twenty years of
transit service, with retirement allowance payable at or after age
fifty, by executing and acknowledging a written election to such effect
and by filing such election with the board:
(a) prior to:
(i) the date of certification of his or her rate of contribution; or
(ii) January first, nineteen hundred seventy-one;
whichever is later, if such person is not a member of the retirement
system at the time of such appointment; or
(b) prior to:
(i) the thirty-first day after such appointment; or
(ii) January first, nineteen hundred seventy-one;
whichever is later, if such person is a member of the retirement
system at the time of such appointment.
(10) If a member who makes such election pursuant to paragraph nine of
this subdivision n, made required contributions to the retirement system
with respect to the whole or any part of the period between such
appointment and such election, by reason of status as a member of the
retirement system prior to the filing of such election, the amount of
such required contributions shall be refunded to such member, without
interest.
(11) If a member who makes such election pursuant to paragraph nine of
this subdivision n was credited with any sum representing an initiation
of or addition to reserve-for-increased-take-home-pay which, if such
election had not been made, would be due from the city with respect to
such period or portion thereof mentioned in paragraph ten of this
subdivision, such sum, with regular interest thereon, shall be deducted
from such reserve and shall become the property of the retirement
system.
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