§ 390. Definitions. Wherever used in this article: 1. The term “board” means the board of trustees of the state university of New York. 2. The term “state university” means the state university of New York and the term “community college” means a college established and operated under article one hundred twenty-six of this chapter. […]
§ 391. Optional retirement program established. 1. There is hereby established an optional retirement program which shall provide for the purchase of contracts providing retirement and death benefits for or on behalf of electing employees. Under such program the state or an electing employer and such employees shall contribute, to the extent authorized or required, […]
§ 392. Rates of contribution. 1. Employer contributions. In the case of any electing employee initially appointed on or before June thirtieth, nineteen hundred ninety-two, the state, with respect to employees of state university, and the electing employer, with respect to employees of a community college, shall, during continuance of his employment, make contributions at […]
§ 393. Election. 1. Election of the optional retirement program. (a) Each eligible employee initially appointed on or after July first, nineteen hundred sixty-four, within thirty days of his entry into service, shall elect (i) to join either the New York state teachers’ retirement system or the New York state employees’ retirement system or other […]
§ 394. Survivor’s benefits. In the case of the death of any electing employee, after the effective date of this election and before retirement, the value of the death benefits provided by the contract or contracts purchased under the optional retirement program which is attributable to the state’s contribution as determined by the board, shall […]
§ 395. Social security. Every electing employee shall have old-age, survivors, and disability insurance coverage provided by the federal social security act in accordance with the provisions of article three of the retirement and social security law.
§ 396. Employer not liable for payment of benefits. Neither the state, nor state university, nor any electing employer or its local sponsor shall be a party to any contract purchased in whole or in part with contributions made under the optional retirement program established and administered pursuant to this article. No retirement, death, or […]
§ 396-a. Deductions from benefits of certain retired members. 1. Notwithstanding any other provision of law, an electing employee who is retired from the optional retirement system shall have the right, at any time after such electing employee’s retirement, to execute and file a deduction authorization card with the designated insurer or insurers upon audit […]
§ 397. Inconsistent provisions of other acts superseded. Insofar as the provisions of this article are inconsistent with the provisions of any other act, general or special, the provisions of this article shall be controlling.
