2006 New York Code - Transfer Of Assests, Liabilities And Administration Of Pension Fund, Subchapter One To Pension Fund, Subchapter Two; Payment Of Certain Benefits By Pe

 
    §  13-312.1  Transfer  of  assets,  liabilities  and administration of
  pension fund, subchapter one to pension fund, subchapter two; payment of
  certain benefits by pension  fund,  subchapter  two.  a.  The  following
  terms, as used in this section, shall have the following meanings unless
  a different meaning is plainly required by the context:
    1.  "Pension  fund,  subchapter one". The fire department pension fund
  provided for in this subchapter.
    2. "Pension fund, subchapter two". The fire  department  pension  fund
  provided for in subchapter two of this chapter.
    3. "Fire subchapter one beneficiary". Any person who is entitled under
  the  laws  in  effect  immediately prior to July first, nineteen hundred
  ninety-five to receive benefits from pension fund, subchapter one.
    b. Subject to the provision of subdivision  g  of  this  section,  and
  notwithstanding  any  other  provision  of  law to the contrary, on July
  first, nineteen hundred ninety-five, all assets held  by  pension  fund,
  subchapter one shall be transferred to pension fund, subchapter two, and
  shall  be  credited  to  the  contingent  reserve  fund of pension fund,
  subchapter two.
    c. Subject to the provisions of subdivision g  of  this  section,  and
  notwithstanding any other provision of law to the contrary, on and after
  July  first,  nineteen  hundred  ninety-five, all moneys which otherwise
  would be paid to pension fund, subchapter one pursuant to the provisions
  of section 13-303 of this subchapter or any other provision of  law,  or
  from  any  other source whatsoever, shall instead be paid to the general
  fund of the city established pursuant to section one hundred nine of the
  charter.
    d. Subject to the provision of subdivision  g  of  this  section,  and
  notwithstanding  any  other  provision  of  law to the contrary, on July
  first, nineteen hundred ninety-five, all liabilities  of  pension  fund,
  subchapter one as of such date, including, but not limited to, liability
  for   the  payment  of  all  benefits  required  under  laws  in  effect
  immediately prior to such date to be paid on  and  after  such  date  by
  pension fund, subchapter one to fire subchapter one beneficiaries, shall
  be  transferred to and assumed by pension fund, subchapter two, and such
  benefits payable to fire subchapter one beneficiaries on and after  such
  date  shall  be  paid  to such beneficiaries by pension fund, subchapter
  two.
    e. Subject to the provisions of subdivision g  of  this  section,  and
  notwithstanding  any  other  provision  of  law to the contrary, on July
  first,  nineteen  hundred  ninety-five,  the  liability  of   the   city
  supplemental pension fund established under section 13-650 of this title
  for  the  payment  of  all  supplemental benefits required under laws in
  effect immediately prior to such date to be paid on and after such  date
  by  such  supplemental pension fund to fire subchapter one beneficiaries
  shall be transferred to and assumed by pension fund, subchapter two, and
  such  supplemental  benefits  payable  to  such  fire   subchapter   one
  beneficiaries on and after such date shall be paid to such beneficiaries
  by pension fund, subchapter two.
    f. Notwithstanding any other provision of law to the contrary, on July
  first,  nineteen hundred ninety-five, the duties and responsibilities of
  administering the provisions of this subchapter conferred upon the board
  of trustees of pension fund, subchapter one by the  provisions  of  this
  subchapter in effect immediately prior to such date shall be transferred
  to and assumed by the board of trustees of pension fund, subchapter two.
    g. Notwithstanding any other provision of law to the contrary, for all
  funding  or  accounting  purposes,  including  but  not  limited to, the
  funding or accounting purposes associated with the implementation of the
  provisions of this  section,  the  provisions  of  subparagraph  (d)  of


  paragraph  two of subdivision b of section 13-331 of this chapter or the
  provisions of paragraph six of subdivision b of such section 13-331, the
  transfer of certain assets or liabilities to  pension  fund,  subchapter
  two  as  required by subdivision b, d or e of this section to be made on
  July first, nineteen hundred ninety-five shall be deemed  to  have  been
  made  on  July  first,  nineteen hundred ninety-four, and the payment of
  certain  moneys  to  the  general  fund  of  the  city  as  required  by
  subdivision  c  of  this  section  to  be  made on and after July first,
  nineteen hundred ninety-five shall be deemed to have been  made  on  and
  after July first, nineteen hundred ninety-four.