Laws of New York (Last Updated: November 21, 2014) |
ADC New York City Administrative Code(NEW) |
Title 13. RETIREMENT AND PENSIONS |
Chapter 1. NEW YORK CITY EMPLOYEES' RETIREMENT SYSTEM |
Section 13-174. Retirement allowances; for ordinary disability
Latest version.
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a. Upon retirement for ordinary disability, a member shall receive a retirement allowance which shall consist of: 1. An annuity which shall be the actuarial equivalent of his or her accumulated deductions, if any, at the time of his or her retirement; and 2. A pension which is the actuarial equivalent of the reserve-for-increased-take-home-pay to which he or she may then be entitled, if any, and 3. A pension, which, together with his or her annuity, if any, and the pension-providing-for-increased-take-home-pay, if any, shall be equal to a. the retirement allowance that would be payable to him or her after a like amount of total-service and final compensation had he or she attained his or her minimum age for service retirement if such retirement allowance exceeds one-quarter of his or her final compensation; otherwise, b. one-quarter of his or her final compensation. b. (1) Notwithstanding the provisions of subdivision a of this section, a member who is a sanitation man when retired for ordinary disability, shall, except as otherwise provided in subdivision c of this section, receive, in lieu of any other retirement allowance for such disability, a retirement allowance which shall consist of: a. An annuity which shall be the actuarial equivalent of his or her accumulated deductions at the time of his or her retirement; and b. A pension-providing-for-increased-take-home-pay which is the actuarial equivalent of the reserve-for-increased-take-home-pay to which he or she may then be entitled, if any; and c. A pension which, together with his or her annuity and the pension-providing-for-increased-take-home-pay, if any, shall be, subject to the provisions of paragraph two of this subdivision b, equal to two per cent of his or her final compensation multiplied by the number of years of allowable service credited to him or her at the time of such retirement. (2) The pension provided for by subparagraph c of paragraph one of this subdivision b shall in no event be less than an amount which, together with the annuity and pension-providing-for-increased-take-home-pay, if any, of such member, shall equal one-fourth of his or her final compensation. * c. Notwithstanding any other provisions of this chapter to the contrary, upon retirement for ordinary disability, a career pension plan member or a fifty-five-year-increased-service-fraction member shall receive a retirement allowance which shall consist of: (1) an annuity which shall be the actuarial equivalent of his or her accumulated deductions; and (2) a pension-providing-for-increased-take-home-pay which is the actuarial equivalent of his or her reserve-for-increased-take-home-pay; and (3) (a) subject to the provisions of paragraph two of subdivision e of section 13-638.4 of this title, a pension which shall be equal to the product obtained by multiplying the number of years of such member's allowable service rendered prior to July first, nineteen hundred sixty-eight, by one and two-tenths per centum of such member's salary or compensation earnable by him or her for city-service in the year prior to his or her retirement, unless such pension is required to be determined pursuant to subparagraph (b) of this paragraph three; (b) if such member shall elect, pursuant to subdivision fifty-eight of section 13-101 of this chapter, that such pension be computed on the basis of his or her three-year-average compensation, such pension shall instead be equal to the product obtained by multiplying the number of such years of allowable service by one and two-tenths per centum of such member's three-year-average compensation; and (4) (a) subject to the provisions of paragraph two of subdivision e of section 13-638.4 of this title, a pension which shall be equal to the product obtained by multiplying the number of years of such member's allowable service rendered after June thirtieth, nineteen hundred sixty-eight by one and fifty-three one-hundredths per centum of such member's salary or compensation earnable by him or her for city-service in the year prior to his or her retirement, unless such pension is required to be determined pursuant to subparagraph (b) of this paragraph four; (b) if such member shall elect, pursuant to subdivision fifty-eight of section 13-101 of this chapter, that such pension be computed on the basis of this three-year-average compensation, such pension shall instead be equal to the product obtained by multiplying the number of such years of allowable service by one and fifty-three one-hundredths per centum of such member's three-year-average compensation. * NB There are 2 sb c's * c. Notwithstanding the provisions of subdivisions a and b of this section, a member who, when retired for ordinary disability, is a sanitation member and has completed at least five years of allowable service as a sanitation member, shall receive, in lieu of any lesser retirement allowance for such disability, a retirement allowance which shall consist of: (1) An annuity which is the actuarial equivalent of his or her accumulated deductions at the time of his or her retirement; and (2) A pension-providing-for-increased-take-home-pay which is the actuarial equivalent of the reserve-for-increased-take-home-pay to which he or she may then be entitled, if any; and (3) A pension which, together with his or her annuity and pension-providing-for-increased-take-home-pay, if any, shall equal a retirement allowance consisting of: (a) one-third of his or her annual salary or compensation when so retired, in any case where the years of allowable service credited to him or her as a sanitation member are less than ten; or (b) one-half of his or her annual salary or compensation when so retired, in any case where the years of allowable service credited to him or her as a sanitation member equal or exceed ten. * NB There are 2 sb c's