New York Laws
Article 11 - Limitations Applicable to New Entrants
445-D*2 - Optional Twenty-Year/age Fifty Improved Benefit Retirement Program for Triborough Bridge and Tunnel Members.

(A) that participant shall be charged with a contribution deficiency
consisting of such unpaid amounts, together with interest thereon,
compounded annually; and
(B) such interest on each amount of undeducted contributions shall
accrue from the end of the payroll period for which such amount would
have been deducted from compensation if he or she had been a participant
at the beginning of that payroll period, until such amount is paid to
the retirement system; and
(C) the rate of interest to be applied to each such amount during the
period for which interest accrues on that amount shall be equal to the
rate or rates of interest required by law to be used during that same
period to credit interest on the accumulated deductions of retirement
system members.
(ii) Except as provided in subparagraph (iii) of this paragraph, no
interest shall be due on any unpaid additional contributions which are
not attributable to the period prior to the first full payroll period
referred to in paragraph two of this subdivision.
(iii) Should any person who, pursuant to paragraph seven of this
subdivision, has withdrawn any additional member contributions (and any
interest paid thereon) again become a participant in the twenty-year/age
fifty improved benefit retirement program pursuant to paragraph five of
subdivision b of this section, an appropriate amount shall be included
in such participant's contribution deficiency (including interest
thereon as calculated pursuant to subparagraph (i) of this paragraph) as
if such additional contributions had never been made.
(iv) Notwithstanding any other provisions of this paragraph, no
participant shall be charged interest for any period prior to March
twenty-fifth, nineteen hundred ninety-eight with respect to any
contributions owed with respect to any payroll period beginning prior to
such date.
4. The board of trustees of the retirement system may, consistent with
the provisions of this subdivision, promulgate regulations for the
payment of such additional member contributions, and any interest
thereon, by a participant in the twenty-year/age fifty improved benefit
retirement program (including the deduction of such contributions, and
any interest thereon, from his or her compensation).
5. Where a contribution deficiency chargeable to a participant
pursuant to paragraph three of this subdivision has not been paid in
full while the participant is a Triborough bridge and tunnel member,
that participant shall not be entitled to the benefits provided in
subdivision c of this section.
6. Where a participant has not paid in full any contribution
deficiency chargeable to him or her pursuant to paragraph three of this
subdivision, and a benefit, other than a refund of a member's
accumulated deductions or a refund of additional member contributions
pursuant to paragraph seven of this subdivision, becomes payable by the
retirement system to the participant or to his or her designated

beneficiary or estate, the actuarial equivalent of any such unpaid
amount shall be deducted from the benefit otherwise payable.
6-a. Notwithstanding paragraph five or six of this subdivision, where
a deficiency chargeable to a participant pursuant to paragraph three of
this subdivision has not been paid in full while the participant is a
Triborough bridge and tunnel member and such participant retires prior
to July first, two thousand seven, such participant may elect to be
covered by this paragraph. Such participant shall be entitled to the
benefits provided in subdivision c of this section provided that
participant authorizes the retirement system to deduct from such
benefits an amount which will result in the deficiency, plus associated
interest to date of final payment, being paid in full no later than July
first, two thousand seven or such earlier date as agreed to by the
participant. Such amount will be deducted in equal installments on a
monthly basis. Nothing in this paragraph shall prevent the participant
from making a partial payment of the amount of the deficiency at the
time of retirement so as to reduce the monthly payment nor to make a
lump sum payment equal to the amount of the total unpaid balance at any
time during the period of repayment.
7. (i) All additional member contributions required by this
subdivision (and any interest thereon) which are received by the
retirement system shall be paid into its contingent reserve fund and
shall be the property of the retirement system. Such additional member
contributions (and any interest thereon) shall not for any purpose be
deemed to be accumulated deductions of a member of the retirement system
while he or she is a participant in the twenty-year/age fifty improved
benefit retirement program or otherwise.
(ii) Should a participant in the twenty-year/age fifty improved
benefit retirement program, who has rendered less than fifteen years of
credited service cease to hold a position in such uniformed force for
any reason whatsoever, his or her accumulated additional member
contributions made pursuant to this subdivision (together with any
interest thereon paid to the retirement system) may be withdrawn by him
or her pursuant to procedures promulgated in regulations of the board of
trustees of the retirement system, together with interest thereon equal
to eight and one-quarter percent per annum, compounded annually.
(iii) Except as otherwise provided in subparagraph (ii) of this
paragraph, no member of the retirement system, while he or she is a
participant in such retirement program or otherwise, shall have a right
to withdraw such additional member contributions or any interest thereon
from the retirement system.
8. A member who has made the additional contributions specified by
this subdivision may borrow a portion of such contributions, pursuant to
the provisions of section six hundred thirteen-b of this chapter.
9. Notwithstanding any other provision of law to the contrary, the
provisions of section one hundred thirty-eight-b of this chapter shall
not be applicable to the additional member contributions which are
required by this subdivision.
10. Notwithstanding any other provision of law to the contrary, the
additional member contributions which are required by this subdivision
shall not be reduced under any program for increased-take-home-pay.
* NB There are 2 § 445-d's