N.Y. Education Law Section 529
Pensions providing for increased take home pay for certain teachers

Notwithstanding any other provisions of law to the contrary, beginning with the payroll period the first day of which is nearest to April first, nineteen hundred sixty-one and ending with the payroll period immediately prior to that the first day of which is nearest to April first, nineteen hundred seventy, any member of the retirement system who is a teacher within the provisions of subdivision four of § 501 (Definitions)section five hundred one of this article in the employ of a community college shall be deemed for the purposes of providing pensions for increased take home pay to be a teacher within the provisions of § 528 (Pensions-providing-for-increased-take-home-pay)section five hundred twenty-eight of this article, provided that the board of trustees of the community college employing such teacher files with the retirement board a certified copy of the resolution, approved by the local sponsor acting through its local legislative body or board or other appropriate governing agency, of such board of trustees resolving that teachers employed in such community college shall be eligible for pensions providing for increased take home pay. Such resolutions shall also specify the per centum of their compensation by which their contributions shall be reduced, which shall be five per centum unless eight per centum is specifically designated. In the event that such an approved resolution is so filed, the contributions of such teachers so employed in such community college shall be reduced by either five per centum or eight per centum of their compensation, as provided in such resolution, in the manner prescribed in § 528 (Pensions-providing-for-increased-take-home-pay)section five hundred twenty-eight of this article beginning with the payroll period the first day of which is nearest to the first day of the month following the day such certified approved resolution is filed, and thereafter the contributions for each member of the retirement system employed by such community college whose rate of contribution is reduced by virtue of the provisions of this section and section five hundred twenty-eight of this article shall be made to the pension accumulation fund by such community college, the local sponsor, the local legislative body or board or other appropriate governing agency in the same manner and at the same time as other contributions are made by such community college, the local sponsor, the local legislative body or board or other appropriate governing agency as the employer of members of the retirement system at a rate to be fixed in accordance with the procedure prescribed in § 528 (Pensions-providing-for-increased-take-home-pay)section five hundred twenty-eight of this article, and all applicable provisions of said section five hundred twenty-eight subject to the applicable per centum of a teacher’s compensation by which his contribution shall be reduced shall apply to such community college, the local sponsor, the local legislative body or board or other appropriate governing agency and to members of the retirement system employed by such board of trustees.

Source: Section 529 — Pensions providing for increased take home pay for certain teachers, https://www.­nysenate.­gov/legislation/laws/EDN/529 (updated Sep. 22, 2014; accessed Jan. 18, 2025).

501
Definitions 502
Retirement system 503
Membership of system 504
Retirement board 505
Election of the active teacher members of the board 505‑A
Election of retired teacher member of board 506
Board meetings 507
Officers of board 508
Investment of funds 508‑A
New York state teachers’ retirement system MWBE asset management and financial institution strategy 509
Statements of teachers’ service 510
Superannuation retirement 511
Disability retirement 511‑A
Special service retirement 512
Withdrawal and death benefits 512‑A
Deferred retirement 512‑B
Loans 513
Optional allowances 514
Benefits to participants in old retirement fund 515
Funds enumerated 516
Annuity savings fund 517
Annuity reserve fund 518
Pension reserve fund 518‑A
Supplemental retirement allowance fund 519
Expense fund 520
Duties of employer 521
Collection of contributions 522
Transfer of contributions between retirement systems 523
State supervision 524
Exemption from taxation and execution 525
Protection against fraud 526
Merger of local teachers’ retirement and pension systems with the state system 527
Notwithstanding any other provision of law to the contrary the retirement board shall determine the annuity payable as of the date of ret... 528
Pensions-providing-for-increased-take-home-pay 529
Pensions providing for increased take home pay for certain teachers 530
Pensions-providing-for-increased-take-home-pay-for-teachers 531
Abandonment of unclaimed contributions or other benefits 532
Supplemental retirement allowance 532‑A
Cost-of-living adjustment 533
Non-contributory retirement plan 535
Career retirement plan 536
Deductions from benefits of certain retired members 537
Lump sum payment of de minimis service retirement benefit 538
Excess benefit plan 539
Certain actions by retiring members
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Accessed:
Jan. 18, 2025

Last modified:
Sep. 22, 2014

§ 529’s source at nysenate​.gov

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