1207 – Loans to Members.
§ 1207. Loans to members. a. 1. Notwithstanding any general, special or local law to the contrary, a member in active service who has credit for at least one year of member service may borrow, no more than once within each twelve month period, an amount not exceeding seventy-five percent of the total contributions made […]
1209 – Final Average Salary.
§ 1209. Final average salary. For members who first become members of the New York state and local police and fire retirement system on or after April first, two thousand twelve, a member’s final average salary shall be equal to one-fifth of the highest total wages earned by such member during any continuous period of […]
1210 – Wages.
§ 1210. Wages. For members who first become members of the New York state and local police and fire retirement system on or after April first, two thousand twelve, the following items shall not be included in the definition of wages: a. wages in excess of the annual salary paid to the governor pursuant to […]
1200 – Definitions.
§ 1200. Definitions. For purposes of this article the terms: a. “Member” shall mean a person who is employed as a police officer or firefighter by any employer who first joins the retirement system on or after January first, two thousand ten. b. “Retirement system” shall mean the New York state and local police and […]
1201 – Applicability.
§ 1201. Applicability. Notwithstanding any provision of law to the contrary, the provisions of this article shall be applicable to all employees in the retirement system who first joined such system on or after January first, two thousand ten.
1201-A – Retirement Plan.
§ 1201-a. Retirement plan. Notwithstanding any other law to the contrary, members who first become members of the New York state and local police and fire retirement system on or after January first, two thousand fifteen and are employed by an employer who has elected the benefits of section three hundred eighty-four-d of this chapter […]
1202 – Vesting.
§ 1202. Vesting. a. In order to qualify for a service retirement benefit, members subject to the provisions of this article must have a minimum of five years of creditable service. b. In computing the years of total creditable service of a member, full credit shall be given for military service as defined in subdivisions […]
1203 – Overtime.
§ 1203. Overtime. A member’s final average salary shall be calculated in accordance with such provisions of article eight or article eleven of this chapter as govern the member’s benefits, except that earnings classified as overtime compensation in an amount in excess of fifteen percent of a member’s annual wages not classified as overtime compensation […]
1204 – Member Contributions.
§ 1204. Member contributions. Members who are subject to the provisions of this article shall contribute three percent of annual wages to the retirement system in which they have membership, except that beginning April first, two thousand thirteen for members who first become members of the New York state and local police and fire retirement […]
1204-A – Pick Up of Member Contributions by Employer.
* § 1204-a. Pick up of member contributions by employer. a. Notwithstanding any other provision of law, each participating employer shall pick up the member contributions required to be made under section twelve hundred four of this article by its employees and shall do so by reducing the salary of each of its employees to […]