2006 New York Code - Extension Of System To College Participants And Provisions Relative Thereto.

 
    §  13-563  Extension  of system to college participants and provisions
  relative thereto. Membership in the public school  teachers'  retirement
  system,  besides  including  teachers  enumerated in definition seven of
  section 13-501 of this chapter, and members described in section  13-503
  of  this  chapter,  is  hereby  extended  to  include  all  officers  of
  administration and instruction of the College of the city of  New  York,
  and also others at present employed by such college, who are not members
  of any other retirement system supported in whole or in part by the city
  and  who  hold  appointment  to  service  at annual salaries paid out of
  appropriations made by the city and also all lecturers employed  by  the
  city  university  of  New  York  who  serve on a per hour, per diem, per
  monthly  or  per  semester  basis  under  such  appropriate  rules   and
  regulations as the retirement board shall adopt, elect to become members
  of  the  retirement  system provided however that such lecturers are not
  members of any other retirement system supported in whole or in part  by
  the  city.  All such members shall hereinafter be referred to as college
  participants and all the provisions of this chapter shall apply to  such
  participants except as hereinafter provided:
    1. All the definitions of section 13-501 of this chapter shall hold in
  the  application  of  the retirement provisions to college participants.
  The college of the city of New York with all its divisions including its
  prepatory high school is deemed to be part of the public  school  system
  together with the public schools enumerated in definition six of section
  13-501 of this chapter. Such college participants are deemed teachers of
  the  public  school  system together with those enumerated in definition
  seven of section 13-501 of this chapter. The present-teachers  shall  be
  those  in  the  service  of  the college on June first, nineteen hundred
  twenty-three. New-entrants shall be those  appointed  to  service  after
  such  date.  In  applying  definition fourteen of section 13-501 of this
  chapter to college participants, prior-service shall be  calculated  for
  present-teachers up to such date.
    2.  The  membership  of  the  retirement  board constituted by section
  13-507 of this chapter shall not be changed because of the inclusion  of
  employees  of  the  college  of  the  city of New York in the retirement
  system. All the duties of such board shall be exercised in reference  to
  college participants.
    3.  All  the  funds provided for by this chapter shall be administered
  for and in behalf of college contributors in  like  manner  as  for  all
  other contributors, and the city shall pay each year into the contingent
  reserve   fund  ten  thousand  dollars  on  account  of  present-college
  teachers, which payment shall continue until the present value  of  such
  amounts  so  paid  into  the  contingent  reserve fund together with the
  amounts restored to the contingent reserve  fund  from  pension  reserve
  fund  number  one  on  account  of  present-college teachers restored to
  active service, shall equal the present value of all amounts which  have
  been  transferred  from  the  contingent reserve fund to pension reserve
  fund number one on account of present-college teachers, plus the present
  value of all amounts, other  than  reserves-for-increased-take-home-pay,
  thereafter  to  be  transferred from the contingent reserve fund to such
  pension reserve fund number one on account of present-college  teachers.
  Such  amounts shall be computed on the basis of such mortality and other
  tables as shall be adopted by  the  retirement  board,  and  on  regular
  interest.  Deductions  shall  be  made  from  the  salaries  of  college
  participants on each and every payroll,  in  the  manner  set  forth  in
  section  13-521 of this chapter, and the provisions of section 13-533 of
  this chapter, shall apply to college members as to all other members.
    4. In computing the length of service of a college contributor all the
  provisions of section 13-505 of this chapter shall apply and all service


  in the college of the city of New York shall  be  credited  for  college
  contributors  exactly  as  analogous  service  in  the schools under the
  management and control of the board of education is  credited  to  other
  contributors.
    5.  All  the  provisions  of  sections 13-523, 13-506, 13-541, 13-545,
  13-550 and 13-553 of this chapter, shall apply to  college  contributors
  except  that  no college contributor who is dismissed from service shall
  be paid anything out of the teachers' retirement fund of  the  board  of
  education  of  the city of New York as it existed prior to the first day
  of August, nineteen  hundred  seventeen  and  for  college  contributors
  service  shall  be  counted  as equivalent to city-service wherever such
  service is designated in such sections as necessary to meet a retirement
  requirement.
    6. Each college pensioner duly retired under  the  provisions  of  the
  college   officials   and  professors'  retirement  fund  prior  to  May
  twenty-second, nineteen hundred twenty-three shall receive from  pension
  reserve  fund  number  two,  in  regular  monthly installments, the same
  annual pension which  was  assigned  to  him  or  her  at  the  time  of
  retirement  and the city shall contribute to pension reserve fund number
  two sums equal to the amounts paid to such pensioners.