New York Laws
Article 15 - Coordinated Retirement Plan
604-H - Twenty-Five Year Retirement Program for Police Communications Members.

(i) who has completed twenty-five or more years of credited service;
and
(ii) 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
(iii) who files with the retirement system of which he or she is a
member an application for service retirement setting forth at that time,
not less than thirty days subsequent to the execution and filing
thereof, he or she desires to be retired; and
(iv) who shall be a participant in the twenty-five year 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, and
subject to the provisions of paragraph six of subdivision e of this
section, the early service retirement benefit for participants in the
twenty-five year retirement program who retire pursuant to paragraph one
of this subdivision shall be a retirement allowance consisting of:
(A) an amount, on account of the required minimum period of service,
equal to fifty percent of his or her final average salary; plus
(B) an amount on account of credited service, or fraction thereof,
beyond such required minimum period of service equal to two percent of
his or her final salary;
(ii) The maximum retirement allowance 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-five year retirement
program:
(i) who discontinues service as such a participant, other than by
death or retirement; and
(ii) who prior to such discontinuance, completed five but less than
twenty-five years of credited service; and
(iii) who, subject to the provisions of paragraph seven of subdivision
e of this section, has paid, prior to such discontinuance, all

additional member contributions and interest (if any) required by
subdivision e of this section; and
(iv) who 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repays the amounts so withdrawn, together with interest, pursuant to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. Subject to the provisions of paragraph seven of subdivision e of
this section, such deferred vested benefit shall be a retirement
allowance consisting of an amount equal to two 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-five year retirement program 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 six percent of his or
her compensation earned from (i) all credited service, as a participant
in the twenty-five year retirement program, rendered on or after the
starting date of the twenty-five year retirement program, and (ii) all
credited service after such person ceases to be a participant, but
before he or she again becomes a participant pursuant to paragraph six
of subdivision b of this section. The additional contributions required
by this subdivision shall be in lieu of additional member contributions
required by subdivision d of section six hundred four-c of this article,
as added by chapter ninety-six of the laws of nineteen hundred
ninety-five, and no member making contributions pursuant to this section
shall be required to make contributions pursuant to such subdivision d
of section six hundred four-c of this article.
2. A participant in the twenty-five year retirement program shall
contribute additional member contributions until the later of (i) the
first anniversary of the starting date of the twenty-five year
retirement program, or (ii) the date on which he or she completes thirty
years of credited service as a police communications member.
3. Commencing with the first full payroll period after each person
becomes a participant in the twenty-five year 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 for which
he or she is such a participant.
4. (i) Each participant in the twenty-five year retirement program
shall be charged with a contribution deficiency consisting of the total
amounts of additional member contributions such person is required to
make pursuant to paragraphs one and two of this subdivision which are
not deducted from his or her compensation pursuant to paragraph three of

this subdivision, if any, together with interest thereon, compounded
annually, and computed in accordance with the provisions of
subparagraphs (ii) and (iii) of this paragraph.
(ii) (A) The interest required to be paid on each such amount
specified in subparagraph (i) of this paragraph 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 and such deduction had been required for such
payroll period, until such amount is paid to the retirement system.
(B) 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.
(iii) Except as otherwise provided in paragraph five of this
subdivision, no interest shall be due on any unpaid additional member
contributions which are not attributable to a period prior to the first
full payroll period referred to in paragraph three of this subdivision.
5. (i) Should any person who, pursuant to subparagraph (ii) of
paragraph ten of this subdivision, has received a refund of his or her
additional member contributions including any interest paid on such
contributions, again become a participant in the twenty-five year
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 (ii) of this paragraph) for any credited
service for which such person received a refund of such additional
member contributions (including any amount of an unpaid loan balance
deemed to have been returned to such person pursuant to paragraph twelve
of this subdivision), as if such additional member contributions never
had been paid.
(ii)(A) Interest on a participant's additional member contributions
included in such participant's contribution deficiency pursuant to
subparagraph (i) of this paragraph shall be calculated as if such
additional member contributions had never been paid by such participant,
and such interest shall accrue from the end of the payroll period to
which an amount of such additional member contributions is attributable,
until such amount is paid to the retirement system.
(B) The rate of interest to be applied to each such amount during the
period for which interest accrues on that amount shall be five percent
per annum, compounded annually.
6. Where a participant who is otherwise eligible for service
retirement pursuant to subdivision c of this section did not, prior to
the effective date of retirement, pay the entire amount of a
contribution deficiency chargeable to him or her pursuant to paragraphs
four and five of this subdivision, or repay the entire amount of a loan
of his or her additional member contributions pursuant to paragraph
eleven of this subdivision (including accrued interest on such loan),
that participant, nevertheless, shall be eligible to retire pursuant to
subdivision c of this section, provided, however, that such
participant's service retirement benefit calculated pursuant to
paragraph two of such subdivision c shall be reduced by a life annuity
(calculated in accordance with the method set forth in subdivision i of
section six hundred thirteen-b of this article) which is actuarially
equivalent to:
(i) the amount of any unpaid contribution deficiency chargeable to
such member pursuant to paragraphs four and five of this subdivision;
plus
(ii) the amount of any unpaid balance of a loan of his or her
additional member contributions pursuant to paragraph eleven of this
subdivision (including accrued interest on such loan).
7. Where a participant who is otherwise eligible for a vested right to
a deferred benefit pursuant to subdivision d of this section did not,
prior to the date of discontinuance of service, pay the entire amount of
a contribution deficiency chargeable to him or her pursuant to
paragraphs four and five of this subdivision, or repay the entire amount
of a loan of his or her additional member contributions pursuant to
paragraph eleven of this subdivision (including accrued interest on such
loan), that participant, nevertheless, shall be eligible for a vested
right to a deferred benefit pursuant to subdivision d of this section,
provided, however, that the deferred vested benefit calculated pursuant
to paragraph three of such subdivision d shall be reduced by a life
annuity (calculated in accordance with the method set forth in
subdivision i of section six hundred thirteen-b of this article) which
is actuarially equivalent to:
(i) the amount of any unpaid contribution deficiency chargeable to
such member pursuant to paragraphs four and five of this subdivision;
plus
(ii) the amount of any unpaid balance of a loan of his or her
additional member contributions pursuant to paragraph eleven of this
subdivision (including accrued interest on such loan).
8. The head of a retirement system which includes participants in the
twenty-five year 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).
9. Subject to the provisions of paragraphs six and seven of this
subdivision, where a participant has not paid in full any contribution
deficiency chargeable to him or her pursuant to paragraphs four and five
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 subparagraph
(ii) of paragraph ten 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.
10. (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-five
year 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-five year retirement program
who has rendered less than five years of credited service cease to hold
a position as a police communications 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) Notwithstanding any other provision of law to the contrary, (A)
no person shall be permitted to withdraw from the retirement system any
additional member contributions paid pursuant to this subdivision or any
interest paid thereon, except pursuant to and in accordance with the
preceding subparagraphs of this paragraph; and (B) no person, while he
or she is a participant in the twenty-five year retirement program,
shall be permitted to withdraw any such additional member contributions
or any interest paid thereon pursuant to any of the preceding
subparagraphs of this paragraph or otherwise.
11. A participant in the twenty-five year retirement program shall be
permitted to borrow from his or her additional member contributions
(including any interest paid thereon) which are credited to the
additional contributions account established for such participant in the
contingent reserve fund of the retirement system. The borrowing from
such additional member contributions pursuant to this paragraph shall be
governed by the rights, privileges, obligations and procedures set forth
in section six hundred thirteen-b of this article which govern the
borrowing of member contributions made pursuant to section six hundred
thirteen of this article. The board of trustees of the retirement system
may, consistent with the provisions of this subdivision and the
provisions of section six hundred thirteen-b of this article as made
applicable to this subdivision, promulgate regulations governing the
borrowing of such additional member contributions.
12. Whenever a person has an unpaid balance of a loan of his or her
additional member contributions pursuant to paragraph eleven of this
subdivision at the time he or she becomes entitled to a refund of his or
her additional member contributions pursuant to subparagraph (ii) of
paragraph ten of this subdivision, the amount of such unpaid loan
balance (including accrued interest) shall be deemed to have been
returned to such member, and the refund of such additional contributions
shall be the net amount of such contributions, together with interest
thereon in accordance with the provisions of such subparagraph (ii).

Structure New York Laws