2006 New York Code - Composition.

 
    §  13-303 Composition. The New York fire department pension fund shall
  consist of:
    1. The capital, interest, income, dividends, cash deposits, securities
  and credits in such fund on the first day of January,  nineteen  hundred
  forty.
    2.  All  forfeitures  and fines imposed by the fire commissioner, from
  time to time, upon any member or members by way of discipline.
    3. All rewards, in money, fees,  gifts,  testimonials  and  emoluments
  that  may  be  paid  or given for extraordinary services by any members,
  except such as have been or shall be allowed by such commissioner, to be
  retained by such member or members, and such as have been  or  shall  be
  given to endow a medal or other permanent or competitive reward.
    4.  All  fines  and proceeds of suit for penalties under title fifteen
  and chapter four of title twenty-seven  and  all  license  fees  payable
  thereunder  which  may  be  paid in from or collected in the boroughs of
  Manhattan, Brooklyn, Bronx,  Queens  and  Staten  Island  except  as  is
  otherwise provided in section 13-381 of this chapter.
    5.  All  moneys,  pay,  compensation  or  salary  or  any part thereof
  forfeited, deducted or withheld from any member or members,  for  or  on
  account  of  absence  from duty, to be paid semi-monthly to the board of
  trustees of such fund by the comptroller.
    6. All gifts, grants, devises or bequests to such fund of  any  money,
  real or personal property, right of property or other valuable thing.
    7. All moneys received pursuant to section 11-909 of the code.
    8. a. A sum of money equal to but not greater than:
    (1)  Five  per cent of the semi-monthly pay, salary or compensation of
  each member of the force who shall elect to contribute on the  basis  of
  retirement after twenty-five years of service in such force, or
    (2)  Six  per  cent of the semi-monthly pay, salary or compensation of
  each member of the force who shall elect to contribute on the  basis  of
  retirement  after  twenty years of service in such force which sum shall
  be deducted semi-monthly by the comptroller from  the  pay,  salary,  or
  compensation  of  each  such  member  and forthwith paid to the board of
  trustees of such fund. Every member shall be deemed to consent and agree
  to such deductions and shall receipt in full for his or her pay,  salary
  or  compensation,  and  payment less such deductions shall be a full and
  complete discharge and acquittance of all claims and demands  whatsoever
  for  the  services  rendered by such member during the period covered by
  such payment, except his or her claim to the benefits to which he or she
  may be entitled under the provisions of this subchapter.
    b. Each member shall signify in writing to the board of trustees on or
  before the fifteenth day of May, nineteen hundred forty-one, his or  her
  election  to  contribute  on the basis of retirement either after twenty
  years of service or after twenty-five years of service.
    9. If the amount derived from the above-mentioned sources included  in
  this  section  shall  be  insufficient  to pay the pensions, allowances,
  benefits and returns of salary deductions which have been or  which  may
  hereafter be granted, it shall be the duty of the commissioner each year
  at  the  time of submitting the departmental estimate to the director of
  the budget, to submit a full and detailed statement  of  the  assets  of
  such  fund  and  the amount required to pay all such sums in full. There
  shall annually be included in the budget a sum sufficient to provide for
  such deficiency. The comptroller shall pay the money so provided to  the
  board of trustees.
    10. Notwithstanding any other provision of law to the contrary, on and
  after  July first, nineteen hundred ninety-five, the composition of this
  pension fund shall be as modified by the provisions of section  13-312.1
  of this subchapter.