New York Laws
Article 15 - Coordinated Retirement Plan
604-C*3 - Twenty-Year/age Fifty Retirement Program for Triborough Bridge and Tunnel Members.

(i) who has completed twenty or more years of credited service; and
(ii) who has attained age fifty; and
(iii) who has paid, before the effective date of retirement, all
additional member contributions and interest (if any) required by
subdivision e of this section; and
(iv) who files with the retirement system of which he or she is a
member an application for service retirement setting forth at what time
he or she desires to be retired; and
(v) who shall be a participant in the twenty-year/age fifty retirement
program at the time so specified for his or her retirement; shall be
retired pursuant to the provisions of this section affording early
service retirement.
2. (i) Notwithstanding any other provision of law to the contrary, the
early service retirement benefit for participants in the twenty-year/age
fifty retirement program who retire pursuant to paragraph one of this
subdivision shall be a pension consisting of:
(A) an amount, on account of the required minimum period of service,
equal to one-half of his or her final average salary; plus
(B) an amount of credited service, or fraction thereof, beyond such
required minimum period of service equal to one and one-half percent of
his or her final average salary.
(ii) The maximum pension computed without optional modification
payable pursuant to subparagraph (i) of this paragraph shall equal that
payable upon completion of thirty years of service.
d. Vesting. 1. A participant in the twenty-year/age fifty retirement
program who:
(i) discontinues service as a Triborough bridge and tunnel member,
other than by death or retirement; and
(ii) prior to such discontinuance, completed five but less than twenty
years of credited service; and
(iii) has paid, prior to such discontinuance, all additional member
contributions and interest (if any) required by subdivision e of this
section; and
(iv) does not withdraw in whole or in part his or her accumulated
member contributions pursuant to section six hundred thirteen of this
article unless such participant thereafter returns to public service and
repays the amounts so withdrawn, together with interest, pursuant to
such section six hundred thirteen; shall be entitled to receive a
deferred vested benefit as provided in this subdivision.
2. (i) Upon such discontinuance under the conditions and in compliance
with the provisions of paragraph one of this subdivision, such deferred
vested benefit shall vest automatically.
(ii) In the case of a participant who is not a New York city revised
plan member, such vested benefit shall become payable on the earliest

date on which such discontinued member could have retired for service if
such discontinuance had not occurred or, in the case of a participant
who is a New York city revised plan member, such vested benefit shall
become payable at age sixty-three.
3. Such deferred vested benefit shall be a pension consisting of an
amount equal to two and one-half percent of such discontinued member's
final average salary, multiplied by the number of years of credited
service.
e. Additional member contributions. 1. In addition to the member
contributions required by section six hundred thirteen of this article,
each participant in the twenty-year/age fifty retirement program in the
rank of bridge and tunnel officer shall contribute to the retirement
system of which he or she is a member (subject to the applicable
provisions of subdivision d of section six hundred thirteen of this
article) an additional five and fifty one-hundredths percent of his or
her compensation and each participant in the twenty-year/age fifty
retirement program in the rank of sergeant or lieutenant shall
contribute to the retirement system an additional six percent of his or
her compensation earned from all allowable service as a Triborough
bridge and tunnel member rendered on and after the date which is one
hundred eighty days prior to the starting date of the twenty-year/age
fifty retirement program. A participant in the twenty-year/age fifty
retirement program shall contribute additional member contributions
until the later of (i) the date as of which he or she has twenty years
of credited service as a bridge and tunnel officer, or (ii) the third
anniversary of the date that he or she last became a participant in the
twenty-year/age fifty retirement program.
2. Commencing with the first full payroll period after each person
becomes a participant in the twenty-year/age fifty retirement program,
additional member contributions at the rate specified in paragraph one
of this subdivision shall be deducted (subject to the applicable
provisions of subdivision d of section six hundred thirteen of this
article) from the compensation of such participant on each and every
payroll of such participant for each and every payroll period.
3. (i) Subject to the provisions of subparagraph (ii) of this
paragraph, where any additional member contributions required by
paragraph one of this subdivision are not paid by deductions from a
participant's compensation pursuant to paragraph two of this
subdivision:
(A) that participant shall be charged with a contribution deficiency
consisting of such unpaid amounts, together with interest thereon at the
rate of five percent per annum, 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.
(ii) Except as provided in subparagraph (iii) of this paragraph, no
interest shall be due on any such 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 eight of this
subdivision, has withdrawn any additional member contributions (and any
interest paid thereon) again become a participant in the twenty-year/age
fifty retirement program pursuant to paragraph six 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 head of a retirement system which includes participants in the
twenty-year/age fifty retirement program in its membership may,
consistent with the provisions of this subdivision, promulgate
regulations for the payment of such additional member contributions, and
any interest thereon, by such participants (including the deduction of
such contributions, and any interest thereon, from the participant's
compensation).
5. Where a contribution deficiency chargeable to a participant
pursuant to paragraph three of this subdivision has not been paid in
full before the effective date of retirement, that participant shall not
be eligible to retire pursuant to subdivision c of this section.
6. Where a contribution deficiency chargeable to a participant
pursuant to paragraph three of this subdivision has not been paid in
full before the date of discontinuance of service, that participant
shall not be entitled to a deferred vested benefit pursuant to
subdivision d of this section.
7. 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 member contributions
pursuant to section six hundred thirteen of this article or a refund of
additional member contributions pursuant to paragraph eight of this
subdivision, becomes payable under this article 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.
7-a. Notwithstanding paragraph six or seven 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 eleven, 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 eleven 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.
8. (i) Such additional member contributions (and any interest thereon)
shall be paid into the contingent reserve fund of the retirement system
of which the participant is a member and shall not for any purpose be
deemed to be member contributions or accumulated contributions of a
member under section six hundred thirteen of this article or otherwise
while he or she is a participant in the twenty-year/age fifty retirement
program or otherwise, except that, a surplus of such additional member
contributions that are paid into the retirement system's contingent

reserve fund may be used for the sole purpose of offsetting a deficit of
basic member contributions.
(ii) Should a participant in the twenty-year/age fifty retirement
program who has rendered less than fifteen years of allowable service as
a Triborough bridge and tunnel member cease to hold a position as a
Triborough bridge and tunnel member 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 at the rate of five percent per
annum, compounded annually.
(iii) Except as provided in subparagraph (ii) of this paragraph, no
member, while he or she is a participant or otherwise, shall have a
right to withdraw such additional member contributions or any interest
thereon from the retirement system.
9. 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 article.
* NB There are 3 § 604-c's

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