New York General Municipal Law
Minimum Retirement Benefits for Firemen in Cities and Who Are Members of Fire Department Pension or Retirement Systems Maintained by Such...
* § 207-e. Minimum retirement benefits for firemen in cities and who are members of fire department pension or retirement systems maintained by such cities.
1. Notwithstanding the provisions of any general, special or local law, charter or administrative code to the contrary, and in lieu of any lesser amount otherwise prescribed, any person who is an officer or member of the uniformed force of the fire department of a city, and is a member of a fire department pension or retirement system maintained by such city, and who has completed service as a member of such city-maintained fire department pension or retirement system for the minimum number of years specified in such plan or option selected by him as a necessary prerequisite for a pension or retirement allowance on account of retirement for service shall, upon retirement for service, receive a pension or retirement allowance on account of such minimum service which shall, subject to the provisions of this section, be equal to one-half of his annual compensation earnable upon the date of his retirement.
2. Where a city-maintained pension plan or retirement system for officers or members of the uniformed force of the fire department of such city provides, upon retirement for service, for a retirement allowance consisting of a pension plus an annuity which is the actuarial equivalent of the member’s accumulated contributions at the time of his retirement, then in that event there shall be added by the city, whenever required, a further pension of such amount which together with the member’s annuity shall be sufficient to provide him with a retirement allowance equal to one-half of his annual compensation earnable on the date of his retirement. For the purpose only of determining the amount of the additional pension contribution by the city that may be required, the member’s annuity, if any, shall be computed as it would be, (a) if it were not reduced by the actuarial equivalent of any outstanding loan, (b) if it were not increased by the actuarial equivalent of any additional contributions, (c) if it were not reduced by reason of the member’s election to decrease his annuity contributions in order to apply the amount of such reduction in payment of his contributions for old-age and survivors insurance coverage, (d) as it would be without any optional modification.
3. Where a city-maintained pension plan or retirement system for officers or members of the uniformed force of the fire department of such city provides for disability retirement, such retirement allowance shall be computed on the basis of the annual compensation earnable on the date of the retirement for disability of any member.
4. Where additional retirement benefits are payable under the city-maintained pension plan or retirement system, or are required to be paid pursuant to section two hundred seven-b of this chapter, such additional benefits shall be paid, for service in addition to and in excess of the minimum service requirements, in addition to the minimum retirement benefits required to be paid by this section.
5. The provisions of this section shall not apply to members of the New York state policemen’s and firemen’s retirement system. * NB There are 2 § 207-e’s