2006 New York Code - Supplemental Retirement Allowances.



 
    §   13-663  Supplemental  retirement  allowances.  a.  Police  retired
  employees. Notwithstanding  any  other  provision  of  law,  any  police
  retired  employee shall be entitled to a supplemental pension payment to
  be known as a supplemental retirement  allowance  payable  annually,  in
  monthly  installments  in  an  amount  which,  together  with pension or
  retirement allowance (exclusive  of  extra  service  increments  granted
  pursuant  to section 13-208 of this title or any other similar provision
  of law), received by such police retired employee,  shall  be  equal  to
  one-half  of his or her annual compensation earned at the date of his or
  her retirement.
    b. For the purpose  only  of  determining  the  amount  of  additional
  pension  contribution  by  the city that may be required to provide said
  person with a retirement allowance equal  to  one-half  of  his  or  her
  annual  compensation  earned  on  the date of his or her retirement, the
  person's annuity shall be computed as it would have been,
    (A) If it  were  not  reduced  by  the  actuarial  equivalent  of  any
  outstanding loan.
    (B)  If  it  were  not  increased  by  the actuarial equivalent of any
  additional contributions.
    (C) 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.
    (D) As it would be without any optional modification.
    c. The supplemental retirement allowances provided for in this article
  shall not be paid to any police retired employee for any  period  during
  which  the  pension  or  retirement  allowances  of  such police retired
  employee, or any part thereof is forfeited or suspended pursuant to law.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.