2006 New York Code - Supplemental Retirement Allowances For Certain Closed Pension Funds Retirees And Other Retirees.

 
    § 13-691 Supplemental retirement allowances for certain closed pension
  funds   retirees  and  other  retirees.  a.  A  supplemental  retirement
  allowance determined pursuant to this section shall be payable:
    (1) to closed pension fund disability retirees who  retired  prior  to
  April first, nineteen hundred seventy, commencing with a payment for the
  month  of  July, nineteen hundred eighty-one, and continuing thereafter;
  and
    (2) to closed pension fund other-than-disability retirees  who  retire
  prior  to  April  first,  nineteen  hundred  seventy,  commencing with a
  payment for the later of the month of July, nineteen hundred  eighty-one
  or  the month of July next following the twelve-month period ending June
  thirtieth in which such retiree shall have attained  age  sixty-two  and
  continuing thereafter.
    b.  Such  supplemental  retirement  allowance for those closed pension
  fund disability retirees and closed pension  fund  other-than-disability
  retirees   who   retired   prior  to  January  first,  nineteen  hundred
  sixty-eight shall include an amount computed  by  multiplying  the  base
  amount  by  a  percentage  determined on the basis of the consumer price
  index (all items--United States city average) published  by  the  United
  States bureau of labor statistics.
    c.  (1)  The  percentage  referred to in subdivision b of this section
  shall be  determined  as  the  ratio  of  two  indexes,  in  the  manner
  prescribed in this subdivision c.
    (2)  The  average  of the twelve monthly consumer price indexes of the
  calendar year nineteen hundred sixty-nine  divided  by  the  average  of
  twelve   monthly   consumer  price  indexes  of  the  calendar  year  of
  retirement, shall be the ratio of the indexes.
    (3) Such ratio, minus one, shall be  expressed  as  a  percentage  and
  shall be adjusted to the lower one-tenth of one percentum. Such adjusted
  percentage  shall  be the percentage of the base amount which is payable
  as a supplement included  in  a  supplemental  retirement  allowance  as
  provided  for  in  subdivision  b  of  this  section.  However,  no such
  supplement shall be paid  where  such  percentage  is  less  than  three
  percentum.  Such  percentage  for  a person who retired prior to October
  first, nineteen hundred fifty-seven shall be increased  by  one  hundred
  percentum  thereof and the adjusted percentage shall be further adjusted
  to the lower one-tenth  of  one  percentum.  Such  percentage  shall  be
  computed  by  the actuary and certified to the comptroller who shall, by
  directive, promulgate a schedule of percentages by year of retirement to
  be used for this purpose.
    d. (1) Commencing with a payment  for  the  month  of  July,  nineteen
  hundred eighty-one and continuing thereafter, there shall be payable:
    (a)  to  each  closed  pension  fund other-than-disability retiree who
  retired prior to January first, nineteen hundred sixty-eight and who  is
  eligible  to  receive  a  supplemental  retirement  allowance  under the
  provisions of subdivision a of this section; and
    (b) to each closed pension fund disability retiree who  retired  prior
  to   January   first,   nineteen  hundred  sixty-eight:  a  supplemental
  retirement allowance which shall consist of the sum of: (i)  the  amount
  determined for such retiree pursuant to the provisions of subdivisions b
  and c of this section; and
    (ii)  the  product  obtained  by  multiplying the base amount for such
  retiree by  the  percentage  thereof  applicable  to  such  retiree,  as
  determined by the year of retirement in accordance with the schedule set
  forth in paragraph two of this subdivision d.
    (2) The schedule referred to in paragraph one of this subdivision d is
  as follows:


          Year of retirement             Percentage
         --------------------           ------------
         1967                           twenty-three
         1966                           twenty-four
         1965                           twenty-four
         1964                           twenty-five
         1963                           twenty-five
         1962                           twenty-six
         1961                           twenty-six
         1960                           twenty-seven
         1959                           twenty-seven
         1958                           twenty-seven
         1957                           twenty-seven
         1956                           twenty-eight
         1955                           twenty-eight
         1954                           twenty-eight
         1953                           twenty-eight
         1952                           twenty-eight
         1951 and earlier               twenty-nine
 
    (3)  Commencing with a payment for the month of July, nineteen hundred
  eighty-one and continuing thereafter, there shall be payable:
    (a) to each closed  pension  fund  other-than-disability  retiree  who
  retired  on  or  after  January  first, nineteen hundred sixty-eight and
  prior to April first, nineteen hundred seventy, and who is  eligible  to
  receive  a  supplemental  retirement  allowance  under the provisions of
  subdivision a of this section; and
    (b) to each closed pension fund disability retiree who retired  on  or
  after  January  first,  nineteen  hundred sixty-eight and prior to April
  first, nineteen hundred seventy;  a  supplemental  retirement  allowance
  equal  to  the  product obtained by multiplying the base amount for such
  retiree by  the  percentage  thereof  applicable  to  such  retiree,  as
  determined by the date of retirement in accordance with the schedule set
  forth in paragraph four of this subdivision d.
    (4)  The schedule referred to in paragraph three of this subdivision d
  is as follows:
 
         Date of retirement             Percentage
         ------------------             ----------
         April 1, 1969 to and
           including March 31, 1970     twenty-one
         January 1, 1968 to and
           including March 31, 1969     twenty-two
 
    e. (1) Commencing with a payment  for  the  month  of  July,  nineteen
  hundred  eighty-one and continuing thereafter, there shall be payable to
  each closed pension fund disability retiree  who  retired  on  or  after
  April first, nineteen hundred seventy and before January first, nineteen
  hundred  seventy-three, a supplemental retirement allowance equal to the
  product obtained by multiplying the base amount for such retiree by  the
  percentage thereof applicable to such retiree, as determined by the date
  of  retirement  in  accordance  with the schedule set forth in paragraph
  three of this subdivision e.
    (2) (a) Each closed pension  fund  other-than-disability  retiree  who
  retired  on  or after April first, nineteen hundred seventy and prior to
  January first, nineteen  hundred  seventy-three  shall  be  entitled  to


  receive,  for  the  period  provided  for  by  subparagraph  (b) of this
  paragraph two, a supplemental retirement allowance equal to the  product
  obtained  by  multiplying  the  base  amount  for  such  retiree  by the
  percentage thereof applicable to such retiree, as determined by the date
  of  retirement  in  accordance  with the schedule set forth in paragraph
  three of this subdivision e.
    (b) Such supplemental retirement allowance referred to in subparagraph
  (a) of this paragraph two shall commence with a payment for the later of
  the month of July, nineteen hundred eighty-one or the month of July next
  following the twelve-month period ending June thirtieth  in  which  such
  retiree shall have attained age sixty-two and shall continue thereafter.
    (3)  The  schedule  referred  to  in  paragraphs  one  and two of this
  subdivision e is as follows:
 
        Date of retirement              Percentage
        ------------------              ----------
        April 1, l970 to
          and including
          December 31, 1971             eight
        1972 calendar year              seven
 
    f. (1) Commencing with a payment  for  the  month  of  July,  nineteen
  hundred  eighty-two and continuing thereafter, there shall be payable to
  each closed pension fund  disability  retiree  who  retired  during  the
  calendar  year nineteen hundred seventy-three, a supplemental retirement
  allowance equal to the product obtained by multiplying the  base  amount
  for such retiree by six per centum.
    (2)  (a)  Each  closed  pension fund other-than-disability retiree who
  retired during the calendar year nineteen hundred seventy-three shall be
  entitled to receive, for the period provided for by subparagraph (b)  of
  this  paragraph  two,  a  supplemental retirement allowance equal to the
  product obtained by multiplying the base amount for such retiree by  six
  per centum.
    (b) Such supplemental retirement allowance referred to in subparagraph
  (a) of this paragraph two shall commence with a payment for the later of
  the month of July, nineteen hundred eighty-two or the month of July next
  following  the  twelve-month  period ending June thirtieth in which such
  retiree shall have attained age sixty-two and shall continue thereafter.
    g. (1) Commencing with a payment  for  the  month  of  July,  nineteen
  hundred  eighty-three  and continuing thereafter, there shall be payable
  to each closed pension fund disability retiree who retired on  or  after
  January  first,  nineteen hundred seventy-four and before January first,
  nineteen hundred  seventy-seven,  a  supplemental  retirement  allowance
  equal  to  the  product obtained by multiplying the base amount for such
  retiree by  the  percentage  thereof  applicable  to  such  retiree,  as
  determined by the date of retirement in accordance with the schedule set
  forth in paragraph three of this subdivision g.
    (2)  (a)  Each  closed  pension fund other-than-disability retiree who
  retired on or after January first,  nineteen  hundred  seventy-four  and
  prior to January first, nineteen hundred seventy-seven shall be entitled
  to  receive,  for  the  period  provided for by subparagraph (b) of this
  paragraph two, a supplemental retirement allowance equal to the  product
  obtained  by  multiplying  the  base  amount  for  such  retiree  by the
  percentage thereof applicable to such retiree, as determined by the date
  of retirement in accordance with the schedule  set  forth  in  paragraph
  three of this subdivision g.
    (b) Such supplemental retirement allowance referred to in subparagraph
  (a) of this paragraph two shall commence with a payment for the later of


  the  month  of  July, nineteen hundred eighty-three or the month of July
  next following the twelve-month period ending June  thirtieth  in  which
  such  retiree  shall  have  attained  age  sixty-two  and shall continue
  thereafter.
    (3)  The  schedule  referred  to  in  paragraphs  one  and two of this
  subdivision g is as follows:
 
         Date of retirement        Percentage
         ------------------        ----------
         1974 calendar year        five
         1975 calendar year        four
         1976 calendar year        three
 
    h. (1) Commencing with a payment  for  the  month  of  July,  nineteen
  hundred eighty-four and continuing thereafter, there shall be payable to
  each  closed  pension  fund  disability  retiree who retired on or after
  January first, nineteen hundred seventy-seven and before January  first,
  nineteen hundred seventy-nine, a supplemental retirement allowance equal
  to  the product obtained by multiplying the base amount for such retiree
  by three per centum.
    (2) (a) Each closed pension  fund  other-than-disability  retiree  who
  retired  on  or  after January first, nineteen hundred seventy-seven and
  prior to January first, nineteen hundred seventy-nine shall be  entitled
  to  receive,  for  the  period  provided for by subparagraph (b) of this
  paragraph two, a supplemental retirement allowance equal to the  product
  obtained  by  multiplying  the  base  amount  for  such  retiree  by the
  percentage thereof applicable to such retiree, as determined by the date
  of retirement in accordance with the schedule  set  forth  in  paragraph
  three of this subdivision h.
    (b) Such supplemental retirement allowance referred to in subparagraph
  (a) of this paragraph two shall commence with a payment for the later of
  the  month  of  July,  nineteen hundred eighty-four or the month of July
  next following the twelve-month period ending June  thirtieth  in  which
  such  retiree  shall  have  obtained  age  sixty-two  and shall continue
  thereafter.
    i. (1) Commencing with a payment  for  the  month  of  July,  nineteen
  hundred eighty-five and continuing thereafter, there shall be payable to
  each  closed  pension  fund  disability  retiree  who retired during the
  calendar year nineteen hundred seventy-nine, a  supplemental  retirement
  allowance  equal  to the product obtained by multiplying the base amount
  for such retiree by three per centum.
    (2) (a) Each closed pension  fund  other-than-disability  retiree  who
  retired  during the calendar year nineteen hundred seventy-nine shall be
  entitled to receive, for the period provided for by subparagraph (b)  of
  this  paragraph  two,  a  supplemental retirement allowance equal to the
  product obtained by multiplying the base  amount  for  such  retiree  by
  three per centum.
    (b) Such supplemental retirement allowance referred to in subparagraph
  (a)  of  this paragraph two, shall commence with a payment for the later
  of the month of July, nineteen hundred eighty-five or the month of  July
  next  following  the  twelve-month period ending June thirtieth in which
  such retiree shall  have  attained  age  sixty-two  and  shall  continue
  thereafter.
    k.  The  supplemental retirement allowance shall be rounded off to the
  nearest dollar.
    l. The supplemental retirement allowance hereinabove provided for  any
  such  closed  pension  fund  disability  retiree  or closed pension fund
  other-than-disability retiree shall  be  in  lieu  of  any  supplemental


  retirement allowance for such retiree provided by article one or article
  two  of  this  subchapter  or  any  other  existing law or law hereafter
  enacted, unless such  other  supplemental  retirement  allowance  is  in
  excess  of that provided for by this article seven, in which latter case
  such other supplemental  retirement  allowance  shall  be  paid  and  no
  supplemental  retirement  allowance  shall  be  paid  under this article
  seven.