2006 New York Code - Pick Up Of Member Contributions Of Tier I And Tier Ii Members By Employer.

 
    * §  13-521.1  Pick  up  of member contributions of Tier I and Tier II
  members by employer. a. Notwithstanding any other provision  of  law  to
  the  contrary,  on and after the starting date for pick up, the employer
  responsible for pick up shall pick up and pay into the  annuity  savings
  fund  (subject  to  the provisions of paragraph four of subdivision d of
  this section) the Tier I or Tier II member  contributions  eligible  for
  pick  up  by  the  employer  which  each  Tier  I  member (as defined in
  subdivision fifty-two of section 13-501 of  this  chapter)  or  Tier  II
  member  (as  defined  in subdivision fifty-three of such section 13-501)
  would otherwise be required to make on and  after  such  starting  date,
  including  (1) any contributions required to be made for the purchase of
  credit for previous service by its employees pursuant to an  irrevocable
  payroll  deduction  agreement  under  subdivision  b-1  of  section four
  hundred forty-six of the retirement and social security law on and after
  the effective date  of  such  subdivision,  and  (2)  any  contributions
  required  to be made for the purchase of credit for prior service by its
  employees pursuant to an irrevocable payroll deduction  agreement  under
  subdivision  g  of  section  13-505  of  this  chapter  on and after the
  effective date of such subdivision.
    b. An amount equal to the amount of such picked up contributions shall
  be deducted by the employer responsible for pick up from the  salary  of
  such  member (as such salary would be in the absence of a pickup program
  applicable to him or her hereunder)  and  shall  not  be  paid  to  such
  member.  Such  deduction  shall be effected by means of subtraction from
  such member's current salary (as so defined), or offset  against  future
  pay increases, or a combination of such methods.
    c. (1) The member contributions picked up pursuant to this section for
  any  Tier  I  member  or  Tier  II  member shall be paid by the employer
  responsible for pick up in  lieu  of  an  equal  amount  of  the  member
  contributions  otherwise  required  to  be paid by such member under the
  provisions of this chapter and shall be deemed  to  be  and  treated  as
  employer  contributions pursuant to subsection h of section four hundred
  fourteen of the United States internal revenue code, as amended, for the
  purposes, under federal law, for which such subsection h  so  classified
  such picked up contributions. Subject to the provisions of subdivision b
  of this section, for all other purposes, including but not limited to:
    (i)  the  obligation of such member to pay New York state and New York
  city income and/or wages or earnings taxes and the withholding  of  such
  taxes; and
    (ii)  the  determination of the amount of such member's Tier I or Tier
  II member contributions eligible for pick up by the employer; and
    (iii) the determination of the amount of any retirement  allowance  or
  other  retirement system benefit payable to or on account of such member
  or any other retirement system  right,  benefit  or  privilege  of  such
  member;
  the  amount  of  the  member  contributions  picked  up pursuant to this
  section shall be deemed to be a part of  the  employee  salary  of  such
  member  and such member's gross salary (as it would be in the absence of
  a pick up program applicable to him  or  her  hereunder)  shall  not  be
  deemed to be changed by such member's participation in such program.
    (2)  Nothing contained in paragraph one of this subdivision c shall be
  construed  as  superseding  the  provisions  of  section  four   hundred
  thirty-one  of  the  retirement  and  social security law or any similar
  provision of law which limits the salary base for  computing  retirement
  benefits payable by a public retirement system.
    d.  (1)  For  the purpose of determining the retirement system rights,
  benefits and privileges of any Tier I member or  Tier  II  member  whose
  Tier  I  or  Tier  II  member  contributions eligible for pick up by the


  employer  are  picked  up  pursuant  to  this  section  (including   the
  procurement  of  loans  by  any  such  member),  such  picked  up member
  contributions, subject to the provisions of subparagraph  four  of  this
  paragraph, shall be deemed to be and treated (i) as member contributions
  made  by such member pursuant to law and (ii) as a part of such member's
  accumulated deductions.
    (2) Interest on contributions picked up for any  Tier  I  or  Tier  II
  member  pursuant to this section shall accrue in favor of the member and
  be payable to the retirement system at the same rate, for the same  time
  periods, in the same manner and under the same circumstances as interest
  would be required to accrue in favor of the member and be payable to the
  retirement system on such contributions if they were made by such member
  in  the absence of a pick up program applicable to such member under the
  provisions of this section.
    (3) Where member contributions of any Tier I member or Tier II  member
  are  picked  up  and paid into the annuity savings fund pursuant to this
  section, such picked up contributions shall be credited  to  a  separate
  account  within  the  individual account of such member in such fund, so
  that a separate record of the amount of such picked up contributions  is
  maintained.
    (4)  For  the  purposes  of  determining the retirement system rights,
  benefits and privileges of any Tier I member or Tier II member who is  a
  a  participant  in  a variable annuity program of the retirement system,
  his or her picked up member contributions shall, to the  extent  and  in
  the   proportions  appropriate  pursuant  to  his  or  her  election  to
  participate in such program, be deemed to be and treated as  a  part  of
  his  or  her accumulated deductions and/or credits in his or her account
  in the variable annuity savings fund. A separate record  shall  be  kept
  showing   any   such  variable  annuity  savings  fund  account  credits
  attributable to any such picked up contributions.
    (5) Nothing contained in this subdivision  d  shall  be  construed  as
  granting  member  contributions picked up under this section any status,
  under federal law, other than as  employer  contributions,  pursuant  to
  subsection  h  of  section  four  hundred  fourteen of the United States
  internal  revenue  code,  for  the  federal  purposes  for  which   such
  subsection h so classifies such picked up contributions.
    e. No contributor whose member contributions are required to be picked
  up pursuant to this section shall have any right to elect that such pick
  up,   with   accompanying   deduction  from  the  compensation  of  such
  contributor as prescribed by subdivision b of this section, shall not be
  effectuated.
    * NB Expires per ch. 681/92 § 16