2006 New York Code - Termination Of Membership; Transfer To New York City Employees\' Retirement System.

 
    §  13-614  Termination  of  membership;  transfer  to  New  York  city
  employees' retirement system. a. Notwithstanding any other provision  of
  law,  any  officer  or employee of the department of sanitation who is a
  member of or entitled to membership in the relief and pension fund,  and
  who,  prior  to  the  eighteenth  day  of  May,  nineteen hundred fifty,
  executed and filed an application for membership in the  New  York  city
  employees'  retirement  system and made contributions to such retirement
  system in the same manner as a member thereof, may, prior to  the  first
  day  of January, nineteen hundred fifty-two, elect to become a member of
  the New York city employees' retirement system  by  complying  with  the
  following conditions:
    1. He or she shall file with the secretary of such retirement system a
  duly  executed  and  acknowledged  instrument of election renouncing all
  rights in the relief and pension fund, and
    2. If the accumulated deductions of such officer or employee  in  such
  retirement  system  have been withdrawn or refunded, he or she shall pay
  into such retirement system the amount thereof,  together  with  further
  interest  thereon  at  an  unchanged rate from the time of withdrawal or
  refund, and
    3. If such officer or employee  cease  making  contributions  to  such
  retirement  system by reason of being entered on the rolls of the relief
  and pension fund as a member thereof, he or she shall pay into  the  New
  York  city  employees'  retirement  system  the  amount  of  accumulated
  deductions, computed to the time  of  payment,  which  would  have  been
  produced  during  such  period  of non-contribution by the contributions
  which would have been payable during such  period  if  such  officer  or
  employee had been then a member of such retirement system.
    b. Upon compliance by any such officer or employee with the conditions
  specified in subdivision a of this section, all rights in the relief and
  pension  fund of such officer or employee shall terminate, and he or she
  shall become a member of the New York city employees' retirement system.
  The membership of such officer or  employee  in  such  system  shall  be
  deemed to have originally begun on the date when it would have begun (as
  determined  by the commencement of the period with respect to which such
  officer or employee made contributions to  such  retirement  system)  if
  such  officer  or  employee  had  been  eligible  for membership in such
  retirement system at the time of his or her original appointment to  the
  department  of  street  cleaning;  provided  that  any  such  officer or
  employee shall be credited as a member of such  retirement  system  with
  all periods of service which would have been credited to such officer or
  employee  (including  service credit purchased) if his or her membership
  in such retirement system had actually begun on  the  date  when  it  is
  deemed to have begun as above provided. For the purpose of this section,
  the  term  "service"  shall  mean  service (1) for which such officer or
  employee was paid and (2) with respect to which  equivalent  accumulated
  deductions (i) are on deposit in such retirement system to the credit of
  such  officer  or employee at the time of the enactment of this section,
  or (ii) are paid into such retirement system by such officer or employee
  pursuant to the provisions of paragraphs two and three of subdivision  a
  of this section.
    c.  Any  sum in the relief and pension fund representing contributions
  thereto by any such officer or employee making such  election,  together
  with  interest  thereon, if such interest was theretofore paid into such
  fund by or for the account of any such officer  or  employee,  shall  be
  transferred  to the New York city employees' retirement system and shall
  be credited toward any payments required to be made by him or her  under
  the  provisions  of  paragraphs  two  and three of subdivision a of this
  section.


    d. No such officer or employee making such election shall acquire  any
  greater rights in such retirement system than he or she would possess if
  he  or  she had actually become a member thereof at the time when his or
  her membership is deemed to  have  commenced  under  the  provisions  of
  subdivision b of this section.
    e.  The  privilege of electing to become a member of the New York city
  employees' retirement system conferred by this section shall apply  only
  to  living  persons who qualify for the exercise of such privilege under
  this section.