LegalFix

385 - Retirement of Members in the Nassau County Police Department.

NY Ret & SS L § 385 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a) Since he last became a member, and

(b) Prior to the completion of twenty-five years of total service in the department, and

(c) Toward which he and his employer have contributed under this section, plus 4. An additional pension of one-fiftieth of his final average salary, multiplied by the number of years of total service in such department prior to May sixth, nineteen hundred forty-six. This pension shall be payable only if such member has had one or more years of service as a member. The computation of this pension shall be subject to the further conditions that:

(a) The service rendered prior to May sixth, nineteen hundred forty-six, shall be limited so that the total service in such department used as a basis for pension credit under this paragraph four and paragraph three of this subdivision f shall not exceed twenty-five years, and

(b) The amount of the additional pension payable pursuant to this paragraph four shall not exceed the amount needed to increase the total amount of the benefits provided under paragraphs one, two and three of this subdivision f to one-half of the final average salary, plus 5. An additional pension equal to the pension for any creditable service rendered while not an employee of the department as provided under paragraphs three and four of subdivision a of section three hundred seventy-five of this article. This pension shall:

(a) Be payable only if such member has attained age sixty at the time of retirement and has not completed twenty-five years of service in the department for which he receives credit under this article, and

(b) Not increase the total allowance to more than he would have received had his total service been rendered in the department. 6. In the event a member shall continue in service after twenty-five years of total creditable service in the department there shall be added to his pension upon retirement a sum equal to one-sixtieth of his final average salary for each completed additional year of service after twenty-five years. 7. An additional pension, if required, of such amount as shall be necessary to increase the total amount of the benefits provided by paragraphs one, two, three, four and five of this subdivision f, to one-half of his final average salary. The pension provided by this paragraph shall be payable only if a member retires from service prior to attaining age fifty-nine, provided, however, that in the case of any member who has attained the age of fifty-nine on or before September first, nineteen hundred sixty-eight, to be eligible for the additional pension provided by this paragraph, his service shall be terminated and he shall be retired on or before December thirty-first, nineteen hundred sixty-eight. For the purpose of determining the amount of pension provided in this paragraph, the annuity shall be computed as it would be if it were not reduced by the actuarial equivalent of any outstanding loan 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 retirement system in order to apply the amount of such reduction in payment of his contributions for old-age and survivors insurance coverage. g. The increased pensions to members of the department, as provided by this section, shall be paid from additional contributions made by the county on account of such members. The actuary of the police and fire retirement system shall compute the additional contribution for each member who elects 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 police and fire retirement system for such extra pensions. Upon approval by the comptroller, such additional contributions shall be certified by him or her to the county executive of the county. The amount thereof shall be included in the annual appropriation of the county for county police. Such amount shall be paid on the warrant of the county comptroller to the pension accumulation fund of the police and fire retirement system. Every member entering or re-entering the department on and after May sixth, nineteen hundred forty-six, shall retire on the first day of the calendar month next succeeding his or her attainment of age fifty-nine. h. In computing the twenty-five years of completed service of a member in the department, 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 dischargd 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 call of the president for Mexican border service. i. Upon retirement of any member pursuant to this section, any additional amounts credited to the member's annuity savings account pursuant to subdivision b of section three hundred thirty of this article shall be treated as excess contributions and shall be used to provide an annuity in addition to the annuity prescribed by this section. Any other amounts credited to the member's annuity savings account, except the amounts contributed or required to be contributed under this section and except such amounts as are required to produce the retirement allowance provided by subdivision f of this section, may at the option of the member at the time of retirement be withdrawn or used to provide an annuity in addition to the annuity prescribed by this section. j. The provisions of this section shall be controlling notwithstanding any provision in this article to the contrary.

LegalFix

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.
385 - Retirement of Members in the Nassau County Police Department.