528 – Pensions-Providing-for-Increased-Take-Home-Pay.
§ 528. Pensions-providing-for-increased-take-home-pay. 1. Notwithstanding any other provision of law to the contrary, a. beginning with the payroll period the first day of which is nearest to April first, nineteen hundred sixty, and ending with the payroll period immediately prior to that the first day of which is nearest to April first, nineteen hundred seventy, […]
529 – Pensions Providing for Increased Take Home Pay for Certain Teachers.
§ 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 […]
530 – Pensions-Providing-for-Increased-Take-Home-Pay-for-Teachers.
§ 530. Pensions-providing-for-increased-take-home-pay-for-teachers. 1. Notwithstanding any other provision of law to the contrary, a. beginning on the first day of July, nineteen hundred sixty-five, and ending on the thirtieth day of June, nineteen hundred seventy, the contribution of each member of the retirement system who is a teacher within the provisions of subdivision four of […]
531 – Abandonment of Unclaimed Contributions or Other Benefits; Transfer to the Pension Accumulation Fund.
§ 531. Abandonment of unclaimed contributions or other benefits; transfer to the pension accumulation fund. 1. Except as otherwise specifically provided by this article, after at least seven years have elapsed since the member or contributor withdrew from service or ceased to be a teacher for any cause other than death or retirement or seven […]
532 – Supplemental Retirement Allowance.
§ 532. Supplemental retirement allowance. a. A supplemental retirement allowance shall be paid to pensioners who have retired from the retirement system prior to the calendar year nineteen hundred ninety-four. Such supplemental retirement allowance shall be payable on the basis provided for herein, commencing with a payment for the month of September, nineteen hundred ninety-nine […]
532-A – Cost-of-Living Adjustment.
§ 532-a. Cost-of-living adjustment. a. A cost-of-living adjustment shall be payable on the basis provided for in this section to: (i) all pensioners who have attained age sixty-two and have been retired for five years; (ii) all pensioners who have attained age fifty-five and have been retired for ten years; (iii) all disability pensioners regardless […]
523 – State Supervision.
§ 523. State supervision. The operation of the retirement system shall be subject to the supervision of the state department of financial services.
515 – Funds Enumerated.
§ 515. Funds enumerated. The funds created are: a. The annuity savings fund. b. The annuity reserve fund. c. The pension accumulation fund. d. The pension reserve fund. e. The supplemental retirement allowance fund. f. The expense fund.
516 – Annuity Savings Fund; Contributions and Payments.
§ 516. Annuity savings fund; contributions and payments. The annuity savings fund shall be the fund in which shall be accumulated the deductions made from the compensation of contributors. Contributions to and payments from the annuity savings fund shall be made in the following manner: 1. Each employer shall deduct from the compensation of each […]
517 – Annuity Reserve Fund; Pension Accumulation Fund.
§ 517. Annuity reserve fund; pension accumulation fund. 1. The annuity reserve fund shall be the fund from which shall be paid all annuities and all benefits in lieu of annuities. 2. The pension accumulation fund shall be the fund in which shall be accumulated all reserves for the payment of all benefits with the […]