2006 New York Code - Rates Of Contribution.

 
    § 6252. Rates  of contribution. 1. Employer contributions. In the case
  of  any  electing  employee  initially  appointed  on  or  before   June
  thirtieth,   nineteen   hundred   ninety-two,  the  city  shall,  during
  continuance of his employment, makes contributions at the rate  of  nine
  percentum  of  that  portion of his city salary upon which contributions
  are or may hereafter be paid to the secretary of  the  treasury  of  the
  United  States  pursuant  to  article three of the retirement and social
  security law and at the rate of twelve percentum of that portion of  his
  city salary above said amount, out of monies which shall be appropriated
  to  the  city  university for such purposes. In the case of any electing
  employee initially appointed on or after July  first,  nineteen  hundred
  ninety-two,  the  city shall, during continuance of his employment, make
  contributions at the rate of eight percentum of his city  salary  during
  the  first  seven  years  of  such  employment  and  at  the rate of ten
  percentum of his city salary, thereafter, out of monies which  shall  be
  appropriated  to  the  city university for such purpose. For purposes of
  this subdivision, that portion  of  the  employee's  salary  upon  which
  contributions  are  or  may  thereafter  be paid to the secretary of the
  treasury  of  the  United  States  pursuant  to  article  three  of  the
  retirement and social security law shall be deemed not to exceed sixteen
  thousand five hundred dollars.
    2.  Employee  contributions. (a) In the case of any electing employee,
  contributions at the rate of three percentum of his city salary shall be
  deducted as the  employee  contribution  by  the  comptroller,  provided
  however  that  such  employee  contribution shall be made by the city in
  accordance with subdivision one of this section during  such  period  as
  either  section  seventy-a  of the retirement and social security law or
  section B3-36.1 or section B20-41.1 of the administrative  code  of  the
  city of New York provides that the contribution of any member of the New
  York  city  employees'  retirement system or the New York city teachers'
  retirement system in the employ of the city shall be reduced by at least
  eight percentum of his compensation; and provided further, however, that
  such employee contribution with respect to the fiscal year of  the  city
  beginning on July first, nineteen hundred seventy-two and ending on June
  thirtieth,  nineteen  hundred  seventy-three  shall be made by the city,
  notwithstanding any of the foregoing provisions of this  subdivision  to
  the contrary.
    (b) Notwithstanding any provision of paragraph (a) of this subdivision
  or  any  other  provision  of  law  to  the contrary, but subject to the
  provisions of subdivision d of  section  six  hundred  thirteen  of  the
  retirement  and social security law in the case of any electing employee
  initially appointed on or after July first, nineteen hundred ninety-two,
  contributions at the rate of three percentum of his or her  city  salary
  shall be deducted as the employee contribution by the comptroller.
    3.  Payment  of  contributions pursuant to subdivisions one and two of
  this section shall be made to the designated insurer  or  insurers  upon
  audit and warrant of the comptroller.
    4. In the case of an electing employee initially appointed on or after
  the effective date of the election to offer such programs established by
  the board, no contributions pursuant to subdivisions one and two of this
  section  shall  be  made by the city until his completion of one year of
  service and continuance in service thereafter.  Employee  contributions,
  if  any,  required during this initial year of service shall be deducted
  and held by the comptroller. At the end of his initial year of  service,
  a  single  contribution in an amount determined pursuant to subdivisions
  one and two of this section, with interest at the rate of four percentum
  per annum, shall be made, upon audit and warrant of the comptroller,  to
  the designated insurer or insurers, on behalf of such employee continued
  in service. In the case of an electing employee who does not continue in
  service with the board beyond his initial year of service, the amount of
  employee  contribution,  if  any,  deducted  from  his  salary  shall be
  refunded to him, with interest at the rate of four percentum per annum.
    5.  The provisions of subdivision four of this section shall not apply
  to any electing employee who, at the time of initial appointment, owns a
  contract determined by the board to be similar to those contracts to  be
  purchased  under  the  optional  retirement  program  and  issued by the
  designated insurer or insurers.