2006 New York Code - Retirement; Service And Superannuation.

 
    §  13-545  Retirement;  service  and  superannuation.  Retirement  for
  service shall be as follows:
    1. Any contributor may retire fron service upon written application to
  such board setting forth at what time subsequent  to  the  execution  of
  such application he or she desires to be retired. Such application shall
  retire such contributor at the time so specified, provided
    a. He or she has reached or passed the age of sixty-five years; or
    b.  If a present teacher, he or she has a total service of thirty-five
  years or more; or
    c. If a new entrant, he or she has  a  total  service  of  thirty-five
  years or more, at least twenty of which shall have been city-service; or
    d. He or she has reached or passed the age of fifty-five years and has
  completed thirty years of total-service and provided, that by his or her
  written   application,  duly  executed  and  filed  with  the  teachers'
  retirement board on the first day of February, nineteen hundred sixty or
  after such date, before any deductions shall have been made from his  or
  her  compensation  for annuity purposes, the member shall have given his
  or her consent on  an  official  application  form,  to  contribute  the
  necessary deduction from his or her compensation computed to procure for
  him or her on service retirement an annuity which will match the pension
  for  service  retirement  payable  pursuant  to  section  13-554 of this
  chapter on the basis of retirement after completion of thirty  years  of
  total-service  but  not before age fifty-five. Nothing contained in this
  paragraph  shall  deprive  any  contributor  of  any  reduced  rate   of
  contribution  to which he or she may be entitled under the provisions of
  section 13-546 of this chapter. At any time subsequent to one year after
  having given such consent, a member may  withdraw  such  consent  on  an
  offical  withdrawal  form, and thereafter any pension allowance for such
  member shall be calculated in the same manner as though such consent had
  not been given; or
    e. He or she has reached or passed the age of fifty-five years and has
  completed twenty-five years of total-service and provided that by his or
  her written application, duly executed  and  filed  with  the  teachers'
  retirement  board  on  the  first  day  of  February,  nineteen  hundred
  sixty-five, or after such date, before any deductions  shall  have  been
  made from his or her compensation for annuity purposes, the member shall
  have  given  his  or  her  consent  on  an  offical application form, to
  contribute the necessary deduction from his or her compensation computed
  to procure for him or her on service retirement an  annuity  which  will
  match  the  pension  for  service retirement payable pursuant to section
  13-544 of this chapter on the basis of retirement  after  completion  of
  twenty-five  years  of  total-service  but  not  before  age fifty-five.
  Nothing contained in this paragraph shall deprive any contributor of any
  reduced rate of contribution to which he or she may  be  entitled  under
  the provisions of section 13-546 of this chapter. At any time subsequent
  to  one year after having given such consent, a member may withdraw such
  consent on an  offical  withdrawal  form,  and  thereafter  any  pension
  allowance  for  such  member  shall  be calculated in the same manner as
  though such consent had not been given; or
    f. He or she is  an  age  fifty-five-increased-benefits  pension  plan
  contributor  and  has  reached  or  passed  the age of fifty-five years;
  subject, however, to the provisions of section 13-549  of  this  chapter
  (relating   to  deferred  eligibility  of  certain  retirees,  withdrawn
  contributors and discontinued members for benefits under certain pension
  plans).
    2. a. (1) Notwithstanding other provisions of this chapter, any  rules
  or  regulations  adopted  by  the  teachers'  retirement  board,  or any
  provisions  of  law  to  the  contrary,  a  contributor,  eligible   for


  retirement  by  reason  of  service and/or superannuation, may file with
  such board a written application for retirement in the form required for
  such application, electing an  option  or  options  in  accordance  with
  section 13-558 of this chapter but requesting that such retirement under
  said  option  or  options  shall become effective on the day immediately
  preceding his or her death.
    (2) The application shall be held by such board until the  contributor
  shall  file a later application for retirement, or his or her retirement
  in  pursuance  of  subdivision  three  of  this  section  shall   become
  effective,  or  until  his  or her death, whichever of such events shall
  first occur; and in the event of such  contributor's  death  while  such
  application  shall continue to be so held by such board, his or her said
  retirement  shall  become  effective  with  the  same  benefits  to  the
  beneficiary  designated pursuant to section 13-558 of this chapter or to
  the legal representative of such contributor if no  beneficiary  was  so
  designated:
    (i)  as  if such contributor, if not subject to the provisions of item
  (ii) of this subparagraph two, had retired and had  become  entitled  to
  retirement  allowance on the day immediately preceding his or her death;
  or
    (ii) as if such contributor, if he or she was  a  twenty-year  pension
  plan  contributor  who  died  on  or  before  his or her initial date of
  retirement allowance payability, had  retired  on  the  day  immediately
  preceding  his  or  her death and had become entitled, on such day, to a
  retirement allowance beginning on his or her initial date of  retirement
  allowance payability.
    b.  In  the  event  that  a  contributor,  who  would  be eligible for
  retirement by reason of service and/or  superannuation,  dies  while  in
  service  before  filing with such board an application for retirement in
  the form  required  for  such  application,  or  who,  having  filed  an
  application  for  retirement  in  the  form  required,  dies  before the
  expiration of a period of thirty days after the effective date of his or
  her retirement:
    (1) he or she shall nevertheless, if not subject to the provisions  of
  subparagraph two of this paragraph b, be deemed to have been retired and
  to  have  become entitled to a retirement allowance effective on the day
  immediately preceding his or her death; or
    (2) if he or she was a  twenty-year  pension  plan  contributor  whose
  death  under  the  circumstances  set  forth  above  in this paragraph b
  occurred  before  his  or  her  initial  date  of  retirement  allowance
  payability,  he or she shall nevertheless be deemed to have been retired
  on the day immediately preceding his or her death  and  to  have  become
  entitled, on such day, to a retirement allowance beginning on his or her
  initial  date  of  retirement allowance payability; and if he or she had
  elected to receive his or her benefits without optional modification  or
  if  he  or she had not indicated his or her election of benefits without
  optional modification or his or her election of an option under which he
  or she desired to be retired, he or she shall be  considered  as  having
  elected  to  retire  under  the option designated as Option 1 of section
  13-558 of this chapter.
    c. The beneficiary designated  pursuant  to  section  13-558  of  this
  chapter,   or  the  legal  representative  of  such  contributor  if  no
  beneficiary was so  designated,  to  whom  benefits  are  payable  under
  paragraph  a  or  b of this subdivision two may elect, by a statement in
  writing filed with the board, to  receive  the  benefits  payable  under
  section  13-542  or  13-543 of this chapter, whichever is applicable, in
  lieu of the benefit payable under paragraphs a or b of this subdivision.
  Any such beneficiary or legal representative who became entitled to  the


  payment  or  benefits  under  paragraph a or b of this subdivision on or
  after April twenty-fourth, nineteen hundred sixty-one but prior to April
  twenty-fourth, nineteen hundred sixty-two, shall have the right to  make
  such   election   on  or  before  October  thirtieth,  nineteen  hundred
  sixty-two.
    d. In any case where:
    (1) a twenty-year pension plan contributor retires pursuant to section
  13-547 of this chapter (relating to the twenty-year pension plan); and
    (2) the effective date of his or her retirement precedes the  date  on
  which his or her retirement allowance begins; and
    (3)  such  contributor  dies more than thirty days after the effective
  date of his or her retirement and before the expiration of the period of
  thirty days after the date on which  his  or  her  retirement  allowance
  begins; and
    (4)  on the date of his or her death, an election of Option I, II, III
  or IV set forth in section 13-558 of this chapter was not in effect with
  respect to such retirement;
  he or she shall be deemed to have elected Option I with respect thereto.
    e.  Notwithstanding  any  other  provision  of  this  chapter  to  the
  contrary, in any case where:
    (i) any benefit under Option II, III or IV set forth in section 13-558
  of  this  chapter  is  payable  pursuant  to  paragraph  a  or b of this
  subdivision two by reason of the death of  a  twenty-year  pension  plan
  contributor  whose  initial  date  of retirement allowance payability is
  later than the date on which he or she is deemed to  have  been  retired
  under such paragraph a or b; or
    (ii) a twenty-year pension plan contributor who has elected Option II,
  III  or  IV  set  forth  in  section  13-558 of this chapter retires for
  service under such  circumstances  that  his  or  her  initial  date  of
  retirement  allowance payability is later than the effective date of his
  or her retirement and such contributor dies more than thirty days  after
  such  effective  date  and  before his or her initial date of retirement
  allowance payability;
  any benefit to which any beneficiary becomes entitled under such  Option
  by reason of such contributor's death shall begin on such initial date.
    f.  Notwithstanding  any  other  provision  of  this  chapter  to  the
  contrary, in any case where a twenty-year pension plan contributor  dies
  in  service  while  such  a  contributor,  after  attaining  the  age of
  fifty-five years, and, at  the  time  of  his  or  her  death,  has  not
  completed  twenty  years of twenty-year pension plan qualifying service,
  such   contributor   shall   be   deemed   to   have    died    as    an
  age-fifty-five-increased-benefits pension plan contributor.
    g.  (1)  Notwithstanding  any  other  provision of this chapter to the
  contrary, in any case where a contributor dies on or after  July  first,
  nineteen  hundred  seventy and prior to November first, nineteen hundred
  seventy: (i) under such circumstances that a benefit  is  payable  under
  paragraph a of this subdivision two; or
    (ii)  before  filing  an  application  for  retirement  and under such
  circumstances that a benefit  is  payable  under  paragraph  b  of  this
  subdivision; and such benefit, if this paragraph g had not been enacted,
  would   be   otherwise  than  as  prescribed  in  this  paragraph,  then
  irrespective of the pension plan applicable to him or her at the time of
  his or her death and in lieu of any benefit  which  would  otherwise  be
  payable  under  the  provisions of such paragraph a or b, there shall be
  paid the benefit which would have been payable if he  or  she  had  died
  while  an  age-fifty-five-increased-benefits  pension  plan contributor;
  provided, however, that if, had he  or  she  died  while  a  twenty-year
  pension plan contributor:


    (a)  he  or  she  would  have been eligible to retire as a twenty-year
  pension plan contributor on the day preceding his or her death; and
    (b)  the  benefit payable would be larger than the benefit which would
  be paid if he or she had died while an age-fifty-five-increased-benefits
  pension plan contributor;
  the benefit payable pursuant to this subparagraph one of this  paragraph
  shall  be the benefit which would be payable if he or she had died while
  a twenty-year pension plan contributor.
    (2) In the  event  that  a  contributor  to  whom  the  provisions  of
  subparagraph  one of this paragraph g are applicable dies on July first,
  nineteen hundred seventy, then for the purposes of this paragraph g, the
  provisions of this chapter governing the rights, privileges and benefits
  of an age-fifty-five-increased-benefits pension plan contributor  and  a
  twenty-year  pension  plan  contributor  shall be deemed to have been in
  effect on June thirtieth, nineteen hundred seventy.
    3. Each and every contributor who has attained or shall attain the age
  of seventy years shall in any event and whether or not he or  she  shall
  have filed an application for retirement in pursuance of subdivision two
  of  this  section be retired for service by such board at the end of the
  school year in  which  such  age  of  seventy  years  is  attained.  For
  retirement  purposes, the school year shall commence on the first day of
  September and shall terminate on the thirty-first day of August  in  the
  year next following.
    4.  a.  Notwithstanding other provisions of this chapter, any rules or
  regulations adopted by the teachers' retirement board, or any provisions
  of the law to the contrary, a contributor who applies for retirement  in
  accordance  with section 13-545, section 13-547, section 13-548, section
  13-549, section 13-550, section 13-551 or section 13-557 of this chapter
  may in the same application file a conditional election  to  receive  on
  retirement his or her benefits, at the time prescribed by the applicable
  provisions  of  this title, in a retirement allowance payable throughout
  life or to receive the actuarial equivalent of his or her  annuity,  his
  or  her pension, or his or her retirement allowance in a lesser annuity,
  or  a  lesser  pension,  or  a  lesser  retirement  allowance,   payable
  throughout  life  in  accordance with Option II, Option III or Option IV
  set forth in section 13-558 of this chapter, subject  to  the  condition
  that:
    (i)  if  he  or  she is a contributor other than a twenty-year pension
  plan contributor described in subparagraph (ii) of this paragraph a  and
  if he or she dies before the effective date of his or her retirement; or
    (ii)  if  he  or she is a twenty-year pension plan contributor who has
  designated in an application for retirement under section 13-547 of this
  chapter an effective date of retirement  occurring  before  his  or  her
  retirement  allowance  begins  and  if he or she dies before the date on
  which his or her retirement allowance begins; he or she shall instead be
  deemed to have elected Option I set forth in such section 13-558  and  a
  benefit  shall  be  paid  under  Option  I  in  lieu of any such benefit
  conditionally elected by him or her.
    b. (i) If any  such  contributor  mentioned  in  subparagraph  (i)  of
  paragraph   a   of   this  subdivision  four  does  not  die  under  the
  circumstances set  forth  in  such  subparagraph  (i)  or  if  any  such
  contributor  mentioned in subparagraph (ii) of such paragraph a does not
  die under the circumstances set forth in  such  subparagraph  (ii),  the
  conditional  election  of  such contributor of benefits without optional
  modification or Option II, III or IV, as the case may be, shall,  as  of
  the  date  on  which his or her retirement allowance begins, cease to be
  conditional and  shall  become  final  and  shall  supersede  any  prior
  election filed by such contributor under section 13-558 of this chapter.


    c.  Any  contributor  who has filed a conditional election pursuant to
  this paragraph four may at any time before it becomes a regular election
  file another conditional election conforming with the provisions of this
  paragraph. Any such subsequent conditional  election  last  filed  shall
  supersede all prior conditional elections filed by such contributor.
    5.  Notwithstanding  other  provisions  of  this chapter, any rules or
  regulations adopted by the teachers' retirement system, or any provision
  of the law to the contrary, any member of the faculty  or  instructional
  staff of the college of the city of New York, whether or not then having
  tenure,  who was dismissed from such faculty on or before January first,
  nineteen hundred  thirty-four,  who  shall  be  living  and  shall  have
  attained  an age of at least seventy years on the effective date of this
  code, and whose dismissal from such faculty or instructional  staff  has
  been,  or after the effective date of this code, shall be, determined by
  the city university of New York to have been without just cause, in lieu
  of retirement allowance, if any, to which he or she might otherwise have
  been entitled had he or she continued to be employed as a member of such
  faculty or instructional staff, shall be entitled to receive,  from  the
  city  of  New  York,  upon  application therefor, a retirement allowance
  which shall consist of a pension equal to one per cent  of  the  average
  salary that he or she would have received had he or she continued in the
  employ  of  the  city university of New York from the date of his or her
  actual hiring until he or she attained the age of seventy years, as such
  projected average salary shall be determined by the teachers' retirement
  system in the exercise of  its  discretion,  making  due  allowance  for
  probable  professional  promotions  in  academic  rank  and  for  salary
  adjustments and increments, multiplied by the total number of  years  of
  service  that  he  or she would have rendered prior to the attainment of
  the age of seventy years in the continuous employ of the city university
  of New York, had he or she not been dismissed. In addition,  he  or  she
  may  elect, within six months of the effective date of this, to make all
  or any part of the contribution which he or she would have been required
  to make in order to be eligible to participate in  the  annuity  savings
  fund  pursuant to section 13-521 of this chapter, or any predecessor act
  and, upon making such contribution, he or she shall receive  an  annuity
  equal  in  amount  to that which he or she would have received had he or
  she continued in the employ of the city university  of  New  York  until
  attaining  the age of seventy years and had made payments as required by
  law to the annuity savings fund.