New York Laws
Title 4 - Participation in System by Political Subdivisions and Other Organizations
30 - Participation by Municipalities.

(a) The operation of such local pension system shall be discontinued.
(b) The existing pensioners and annuitants of such local pension
system shall be continued and paid at their existing rates by this
retirement system.
(c) Any cash and securities to the credit of such local pension system
shall be transferred to this retirement system.
(d) The trustees or other administrative head of such local pension
system shall certify the proportion, if any, of the funds of such system
that represents the accumulated contributions of the members and the
individual shares of the members therein. Such shares shall be credited
to the respective annuity savings accounts of such members in this
retirement system. The balance of the funds so transferred to this
retirement system shall be offset against the liability on account of
existing pensioners, annuitants and active members. The resulting
liability so determined shall be the basis for the rate of deficiency
contribution of such county, city, town or village as determined
pursuant to section twenty-three of this article.
c. Participation by a municipality pursuant to this section shall
cover all agencies of the government of such municipality including the
free public library, if any, of such municipality, unless separate
participation by any such agency or school district public library has
been approved pursuant to section thirty-one, thirty-one-a or thirty-two
of this article.