New York Laws
Title 10 - Special Retirement Plans Applicable to Specified Classes of Members
388 - Retirement of Members in the City of Yonkers Police Force and Fire Department.

(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 chapter. 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
retirement system in order to apply the amount of such reduction in
payment of his contributions for old-age and survivors insurance
coverage.
f. The increased pensions to members of such department, as provided
by this section, shall be paid from additional contributions made by the
city on account of such members. The actuary of the 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 retirement system for such extra pensions. Upon
approval by the comptroller, such additional contributions shall be
certified by him to the mayor of the city of Yonkers. The amount thereof
shall be included in the annual appropriations of the city. Such amount
shall be paid on the warrant of the comptroller of the city to the
pension accumulation fund of the retirement system.
g. In computing the twenty-five years of completed service in such
department, full credit shall be given and full allowance shall be made
for service of such member in war after world war I as defined in
section two of this chapter, provided such member at the time of his
entrance into the armed forces was in service in such department.
h. In the event a member shall continue in service after twenty-five
years of creditable service, there shall be added to his pension upon
retirement a sum equal to one-sixtieth of his final average salary for
each additional year of service after twenty-five years.
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
chapter 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 e 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. A member who elected or is required to contribute in accordance
with this section, who does not apply for retirement upon completion of
twenty-five years of service in such department or upon attainment of
age sixty, shall retire from service on the last day of the calendar
month next succeeding the calendar month in which he attains age
sixty-four which shall be his mandatory retirement age.
k. The provisions of this section shall be controlling notwithstanding
any provision in this article to the contrary.