2006 New York Code - Retirement Of Members Or Officers Of The State Police; New Plan.

 
  §  381-a.  Retirement  of  members  or officers of the state police; new
  plan. a. Every member or officer of the division of state police in  the
  executive  department who enters or re-enters service in the division on
  or after May first, nineteen hundred sixty-one shall contribute  to  the
  policemen's  and  firemen's retirement system in the manner provided for
  by this section.
    b. Every member or officer of the division of state police who entered
  such service prior to May first,  nineteen  hundred  sixty-one  and  who
  contributed under former section eighty-one-a of this chapter, in effect
  prior  to  April first, nineteen hundred sixty-seven shall contribute on
  the basis provided for by this section.
    c. A member who elects or is required to contribute in accordance with
  this  section,  shall  contribute,  in  lieu  of   the   proportion   of
  compensation  as  provided  in  section three hundred twenty-one of this
  article, a proportion of his  compensation  similarly  determined.  Such
  latter  proportion  shall  be  computed  to provide, at the time when he
  shall first become  eligible  for  retirement  under  this  section,  an
  annuity  equal to one-one hundredth of his final average salary for each
  year of service as a member of the state employees' retirement system or
  the policemen's and firemen's retirement  system  rendered  after  April
  sixteenth, nineteen hundred thirty-eight, and prior to the attainment of
  the  age  when  he  shall  first  become  eligible  for retirement. Such
  member's  rate  of  contribution  pursuant  to  this  section  shall  be
  appropriately  reduced  pursuant  to  section three hundred seventy-a of
  this article for  such  period  of  time  as  his  employer  contributes
  pursuant            to           such           section           toward
  pensions-providing-for-increased-take-home-pay.  No  such  member  shall
  continue  to  make  contributions  after completing twenty-five years of
  such service.
    d. A member contributing on the basis of this section at the  time  of
  retirement,  shall  be  entitled  to  retire  after  the  completion  of
  twenty-five years of total creditable service in such division, or  upon
  the  attainment  of  age  sixty,  by filing an application therefor in a
  manner similar to that provided in section three hundred seventy of this
  article.
    1. Upon completion of twenty-five  years  of  such  service  and  upon
  retirement,  each  such  member  shall receive a pension which, together
  with  an  annuity  which  shall  be  the  actuarial  equivalent  of  his
  accumulated   contributions  at  the  time  of  his  retirement  and  an
  additional  pension  which  is   the   actuarial   equivalent   of   the
  reserve-for-increased-take-home-pay  to  which  he  may then be entitled
  shall be sufficient to provide him with a retirement allowance equal  to
  one-half of his final average salary.
    2. Upon attainment of age sixty and upon retirement without completion
  of  twenty-five  years of such service, each such member shall receive a
  pension which together with an annuity  which  shall  be  the  actuarial
  equivalent   of  his  accumulated  contributions  at  the  time  of  his
  retirement and an additional pension which is the  actuarial  equivalent
  of  the  reserve-for-increased-take-home-pay  to  which  he  may then be
  entitled, shall be sufficient to provide him with a retirement allowance
  equal to one-fiftieth of his final  average  salary  for  each  year  of
  creditable  service  in  such  division. Every such member shall also be
  entitled  to  an  additional  pension  equal  to  the  pension  for  any
  creditable  service  rendered  while  not an employee of the division as
  provided under paragraphs three and four of  subdivision  a  of  section
  three  hundred  seventy-five  of this article. This latter pension shall
  not increase the total allowance to more  than  one-half  of  his  final
  average salary.
    For the purpose only of determining the amount of the pension provided
  in  this subdivision, the annuity shall be computed as it would be if it
  were not reduced by the actuarial equivalent of  any  outstanding  loan,
  and  if  it  were  not  increased  by  the  actuarial  equivalent of any
  additional  contributions,  and  if it were not reduced by reason of the
  member's  election  to  decrease  his  annuity  contributions   to   the
  policemen's and firemen's retirement system in order to apply the amount
  of  such  reduction  in  payment  of  his  contributions for old-age and
  survivors insurance coverage.
    e. The increased pensions to members of the division, as  provided  by
  this  section,  shall  be paid from additional contributions made by the
  state on account of such members. The actuary  of  the  policemen's  and
  firemen's  retirement  system  shall compute the additional contribution
  required for each member who elects  to  receive  the  special  benefits
  provided  under  this  section.  Such  additional contributions shall be
  computed on the basis of contributions during the prospective service of
  such member which will  cover  the  liability  of  the  policemen's  and
  firemen's  retirement  system  for such extra pensions. Upon approval by
  the comptroller, such additional contributions shall be certified by him
  to the superintendent of state  police.  The  amount  thereof  shall  be
  included  in  the  annual appropriation of the state for the division of
  state  police.  Such  amount  shall  be  paid  on  the  warrant  of  the
  comptroller  to  the  pension  accumulation  fund of the policemen's and
  firemen's retirement system.
    f. In computing the twenty-five years of completed service of a member
  in the division, full credit shall be given and full allowance shall  be
  made  for  service  of  such  member in time of war and service with the
  American expeditionary forces subsequent to November eleventh,  nineteen
  hundred   eighteen,  and  prior  to  June  thirtieth,  nineteen  hundred
  nineteen, of honorably discharged officers, soldiers,  sailors,  marines
  and  army  nurses, who were actual residents of the state at the time of
  their entry into the military service of  the  United  States,  and  the
  service  of members of the national guard in the military service of the
  United States of America pursuant to  the  call  of  the  president  for
  Mexican border service.
    g. The provisions of this section shall be controlling notwithstanding
  any provision in this article to the contrary.