Title RSS, Retirement & Social Security

§ 416. Separability clause. If any clause, sentence, paragraph,\nsection or part of this article shall be adjudged by any court of\ncompetent jurisdiction, to be invalid or unconstitutional, such judgment\nshall not affect, impair or invalidate the remainder thereof, but shall\n…

§ 417. Preservation of rights of certain members. Notwithstanding the\nrepeal by this chapter of sections eighty-one, eighty-one-a, eighty-two,\neighty-three, eighty-three-a, eighty-four, eighty-four-a (such sections\neighty-four-a having been separately added by chapters five h…

§ 418. Additional benefit authorized with respect to the city of\nYonkers. Notwithstanding any contrary provision of law, the city of\nYonkers may by local law, ordinance or resolution, provide a benefit of\ntwo hundred fifty dollars a month to the widow or widower, and members\…

§ 42. Payments for credit for service for the federal government or\ncertain public authorities or corporations. a. The payments required by\nthis section shall be made by:\n 1. Members who elect to continue their membership pursuant to\nsubdivision d of section forty of this ar…

§ 420. Short title. This act may be cited as the "common retirement\nfund" act.\n

§ 421. Definitions. As used or referred to in this article, unless a\ndifferent meaning clearly appears from the context. 1. The term\n"employees' retirement system" shall mean the New York state employees\nretirement system.\n 2. The term "police and fire retirement system" sha…

§ 422. Establishment of a common retirement fund. 1. There is hereby\nestablished a fund, in the custody of the comptroller, to be known as\nthe common retirement fund. Notwithstanding any other provision of this\nchapter, all of the assets and income of the employees' retiremen…

§ 423. Investments. a. On and after April first, nineteen hundred\nsixty-seven, the comptroller shall invest the available monies of the\ncommon retirement fund in any investments and securities authorized by\nlaw for each retirement system and shall hold such investments in his…

§ 423-a. Northern Ireland related investments. 1. Notwithstanding any\nother provision of law, on and after January first, nineteen hundred\neighty-seven, any moneys or assets of the common retirement fund which\nshall remain or be invested in the stocks, securities or other\nob…

§ 423-b. New York state venture capital program. The comptroller is\nhereby authorized to establish within the common retirement fund a New\nYork state venture capital program for the purpose of investing in\nqualified businesses as defined in paragraph six of subdivision (a) of…

§ 423-c. MWBE asset management and financial institution strategy. 1.\nWithin the discretion of the state comptroller and in accordance with\nand subject to his or her fiduciary duties and obligations as trustee of\nthe common retirement fund and to the members, retirees and\nbe…

§ 424. Distribution of earnings. At the close of each fiscal year,\nthe average rate of investment earnings of the common retirement fund\nshall be computed by the actuary and certified to the comptroller. This\nrate shall be determined from the investment earnings during the\nc…

§ 424-a. Use of placement agents or intermediaries prohibited. 1. The\nfund shall not engage, hire, invest with or commit to an investment\nmanager that is using the services of a placement agent or intermediary\nto assist such investment manager in obtaining investments by the …

§ 425. Separability of retirement systems. No provision of this\narticle shall be construed as an impairment of the separability of or of\nthe corporate powers and privileges of the employees' retirement system\nor the police and fire retirement system. The comptroller shall\nes…

§ 43. Transfer of members between systems. a. Notwithstanding any\nother provision of law providing for transfers, any member of any\nretirement system maintained by the state or a municipality thereof,\noperating on a sound financial basis and subject to the supervision of\nthe…

§ 430. Current payment for benefit improvements. a. Whenever a new\nbenefit or an improvement in any benefit takes effect or is enacted\nafter July first, nineteen hundred seventy-one which will result in an\nincrease in cost for contributions to an actuarially funded public\nre…

§ 431. Salary base for computing retirement benefits. In any\nretirement or pension plan to which the state or municipality thereof\ncontributes, the salary base for the computation of retirement benefits\nshall in no event include any of the following earned or received, on or\…

§ 432. Definitions. The definitions in section two of this chapter\nshall be applicable to this article.\n

§ 44. Certain local pension system credit for compensation received\nfor constitutional convention service. a. Notwithstanding anything to\nthe contrary contained in this chapter or any other general or local\nlaw, charter or code, any person who while a delegate, officer or\nem…

§ 440. Application. a. Notwithstanding any other provision of law, but\nsubject to the provisions of subdivisions c and d of this section, the\nprovisions and limitations of this article shall apply, as may be\nappropriate, to all members who join or rejoin a public retirement\n…

§ 441. Eligibility for retirement. a. No member of a retirement system\nwho is subject to the provisions of this article shall be eligible to\nretire until he has rendered a minimum of five years of credited service\nafter July first, nineteen hundred seventy-three; provided, ho…

§ 442. Minimum age for retirement. a. The minimum retirement age for\nany member of a retirement system who is subject to the provisions of\nthis article, other than a member permitted to retire upon completion of\ntwenty or twenty-five years of service pursuant to section four …

§ 443. Final average salary. a. The salary base used for the\ncomputation of benefits upon retirement, hereinafter called in this\narticle final average salary, applicable to all members of the\nretirement systems who are subject to the provisions of this article,\nshall be the …

§ 444. Maximum retirement benefits. a. Except as provided in\nsubdivision c of section four hundred forty-five-a of this article,\nsubdivision c of section four hundred forty-five-b of this article,\nsubdivision c of section four hundred forty-five-c of this article,\nsubdivisio…

§ 445. Service retirement benefit. a. No member of a retirement\nsystem who is subject to the provisions of this article shall retire\nwithout regard to age, exclusive of retirement for disability, unless\nthey are a police officer, an investigator member of the New York city\ne…

§ 445-a. Optional twenty-year improved benefit retirement program for\nNew York city correction members below the rank of captain. a.\nDefinitions. The following words and phrases as used in this section\nshall have the following meanings unless a different meaning is plainly\nr…

§ 445-b. Optional twenty-year improved benefit retirement program for\nNew York city sanitation members. a. Definitions. The following words\nand phrases as used in this section shall have the following meanings\nunless a different meaning is plainly required by the context:\n 1…

§ 445-c. Optional twenty-year improved benefit retirement program for\nNew York city correction members of the rank of captain or above. a.\nDefinitions. The following words and phrases as used in this section\nshall have the following meanings unless a different meaning is plai…

* § 445-d. Optional age fifty-five improved benefit retirement program\nfor certain New York city members. a. Definitions. The following words\nand phrases as used in this section shall have the following meanings\nunless a different meaning is plainly required by the context.\n…

* § 445-d. Optional twenty-year/age fifty improved benefit retirement\nprogram for Triborough bridge and tunnel members. a. Definitions. The\nfollowing words and phrases as used in this section shall have the\nfollowing meanings unless a different meaning is plainly required by …

* § 445-e. Optional twenty-five year improved benefit retirement\nprogram for dispatcher members. a. Definitions. The following words and\nphrases as used in this section shall have the following meanings unless\na different meaning is plainly required by the context.\n 1. "Reti…

* § 445-e. Optional twenty-five year improved benefit retirement\nprogram for EMT members. a. Definitions. The following words and phrases\nas used in this section shall have the following meanings unless a\ndifferent meaning is plainly required by the context.\n 1. "Retirement …

* § 445-f. Optional twenty-five year improved benefit retirement\nprogram for deputy sheriff members. a. Definitions. The following words\nand phrases as used in this section shall have the following meanings\nunless a different meaning is plainly required by the context.\n 1. "…

* § 445-f. Optional twenty-five year/age fifty improved benefit\nretirement program for senior automotive service workers, automotive\nservice workers, auto body workers, auto mechanics, marine maintenance\nmechanics and oil burner specialists. a. Definitions. The following\nwor…

* § 445-f. Optional twenty-five year improved benefit retirement\nprogram for special officer, parking control specialist, school safety\nagent, campus peace officer, and New York city taxi and limousine\ninspector members. a. Definitions. The following words and phrases as\nuse…

§ 445-g. Optional twenty-five year/age fifty improved benefit\nretirement program for automotive members. a. Definitions. The following\nwords and phrases as used in this section shall have the following\nmeanings unless a different meaning is plainly required by the context.\n …

§ 445-h. Optional twenty-five year improved benefit retirement program\nfor police communications members. a. Definitions. The following words\nand phrases as used in this section shall have the following meanings\nunless a different meaning is plainly required by the context.\n…

§ 445-i. Optional age fifty-five retirement program for New York city\nteachers and certain other members. a. Definitions. The following words\nand phrases as used in this section shall have the following meanings\nunless a different meaning is plainly required by the context.\n…

§ 446. Credit for service. a. Part-time service.\n 1. A member of a retirement system who is subject to the provisions of\nthis article who works less than full time, which for the purposes of\nthis article shall mean less than thirty hours a week in the cae of a\nmember who has…

§ 447. Options. a. A member of a retirement system who is subject to\nthe provisions of this article shall at the time of retirement have two\nadditional options available to him which shall be the actuarial\nequivalent of his retirement allowance without optional modification:\…

§ 448. Death benefits. a. A member of a retirement system who is\nsubject to the provisions of this article, exclusive of those members\nfor whom provision is made pursuant to subdivision b of this section,\nshall, at the time of first becoming a member thereof, make an election…

§ 448-a. Death benefit for vested members who die prior to retirement.\na. A death benefit plus the reserve-for-increased-take-home-pay, if any,\nshall be payable upon the death of a member of a retirement system who:\n 1. Died before the effective date of retirement while a mem…

§ 45. Right to membership. Upon the employment of any employee whose\nright to membership in a public retirement system of the state, which\nfor purposes of this section shall include any public retirement system\nother than the New York state teachers' retirement system, has bee…

§ 450. Definitions. For the purposes of this article: (1) the term\n"correction officer" shall mean members of the New York state and local\nemployees' retirement system who are in a plan limited to uniformed\npersonnel in institutions under the jurisdiction of the department of…

§ 451. Duration. Notwithstanding any other provision of this chapter\nor of any other law, effective July first, nineteen hundred seventy-six,\nall benefits provided by an actuarially funded public retirement system\nof the state of New York or any municipality thereof shall con…

§ 470. Temporary suspension of retirement negotiations. Changes\nnegotiated between any public employer and public employee, as such\nterms are defined in section two hundred one of the civil service law,\nwith respect to any benefit provided by or to be provided by a public\nre…

§ 472. Implementation of agreements. Any agreements reached pursuant\nto the coalition negotiations provided for in this article shall be\npresented to the commission in form for introduction as legislation no\nlater than November fifteenth prior to the legislative session at wh…

§ 473. Impasses in coalition negotiations. (a) In the event of an\nimpasse occurring during the course of coalition negotiations either the\nemployer coalition or the employee organization coalition may declare\nimpasse no earlier than September fifteenth or later than October f…

§ 480. Extension of temporary benefits and supplementation programs.\na. Every temporary right, privilege or benefit conferred pursuant to the\nprovisions of a general, special or local law (other than pursuant to\narticles fourteen and fifteen of this chapter) for any member of…

§ 50. Loans. a. The following may borrow from the retirement system:\n 1. Any member in government service or on leave of absence who has\ncredit for at least one year of member service, provided the comptroller\nshall approve such loan. The total of any such loans shall not exc…