New York Laws
Title 10 - Special Retirement Plans Applicable to Specified Classes of Members
385-A - Retirement of Members of the Nassau County Police Force; New Plan.

(1) Upon completion of twenty 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 the mandatory retirement age and upon
retirement without completion of twenty 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-fortieth of his final average salary
for each year of creditable service.
Only for the purpose 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 or contributions pursuant to waiver under
subdivision j of section twenty-one of this article, and if it were not
reduced by reason of the members 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 police force, together
with all other expenses of this retirement plan exceeding the
contribution required to be made by members pursuant to subdivision d of
this section, shall be paid from contributions made by the county on
account of such members. The actuary of the retirement system shall
compute the additional contribution for each member who participates
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 retirement system for such extra
pensions. Upon approval by the comptroller, such additional
contributions shall be certified by him to the county executive of the
county. The amount thereof shall be included in the annual
appropriation of the county for the Nassau county police. Such amount
shall be paid on the warrant of the county comptroller to the pension
accumulation fund of the retirement system.
h. Every member of the police force except the commissioner of police
contributing under this section shall leave the service on the last day
of the calendar month in which he attains age fifty-nine, which shall be
his mandatory retirement age. The commissioner after age fifty-nine and
before age seventy may elect to retire and if he does so the date of his
retirement shall for the purpose of this section be deemed his mandatory
retirement age.
i. The provisions of this section shall be controlling notwithstanding
any provision in this article to the contrary.