Section 13-326. Pension-for-increased-take-home-pay

a.  1.  The mayor, by
  executive order adopted prior to the first day of June, nineteen hundred
  sixty-three, may direct that  beginning  with  the  first  full  payroll
  period following January first, nineteen hundred sixty-three, and ending
  with the payroll period immediately prior to that the first day of which
  is   nearest   to  June  thirtieth,  nineteen  hundred  sixty-four,  the
  contribution of each member made pursuant to section  13-325,  shall  be
  reduced  by  two  and  one  half  percentum  of the compensation of such
  member. Such executive order may also provide a method or procedure  for
  the refunding or crediting to a member by the pension fund of the amount
  of  the  reduction  in his or her deductions for any period prior to the
  date of adoption of such executive order.
    2. The mayor, by executive order adopted prior to  the  first  day  of
  June,  nineteen  hundred  sixty-four, may direct that beginning with the
  first  full  payroll  period  following  July  first,  nineteen  hundred
  sixty-four, and ending with the payroll period immediately prior to that
  the  first  day  of which is nearest to June thirtieth, nineteen hundred
  sixty-five, the contribution of each member  made  pursuant  to  section
  13-325,   shall  be  reduced  by  two  and  one-half  percentum  of  the
  compensation of such member.
    3. The mayor, by executive order adopted  prior  to  June  nineteenth,
  nineteen  hundred  sixty-five,  may direct that beginning with the first
  full payroll period following July first, nineteen  hundred  sixty-five,
  and  ending  with the payroll period immediately prior to that the first
  day of which is nearest to June thirtieth, nineteen  hundred  sixty-six,
  the  contribution of each member made pursuant to section 13-325 of this
  subchapter shall be  reduced  by  two  and  one-half  percentum  of  the
  compensation of such member.
    4.  The  mayor,  by  executive order adopted prior to June nineteenth,
  nineteen hundred sixty-six, may direct that  beginning  with  the  first
  full  payroll  period  following July first, nineteen hundred sixty-six,
  and ending with the payroll period immediately prior to that  the  first
  day of which is nearest to June thirtieth, nineteen hundred sixty-seven,
  the  contribution of each member made pursuant to section 13-325 of this
  subchapter shall be  reduced  by  two  and  one-half  percentum  of  the
  compensation of such member.
    5.  The  mayor,  by executive order adopted prior to June seventeenth,
  nineteen hundred sixty-seven, may direct that beginning with the payroll
  period, the first day of  which  is  nearest  to  July  first,  nineteen
  hundred  sixty-seven,  and  ending  with  the payroll period immediately
  prior to that the first day of  which  is  nearest  to  June  thirtieth,
  nineteen  hundred  sixty-eight,  the  contribution  of  each member made
  pursuant to section 13-325 of this subchapter shall be  reduced  by  two
  and one-half percentum of the compensation of such member.
    6.  (a) Subject to the provisions of subparagraph b of this paragraph,
  beginning with the first full payroll period  following  January  first,
  nineteen  hundred  sixty-seven,  and  ending  with  the  payroll  period
  immediately prior to that the first day of  which  is  nearest  to  June
  thirtieth, nineteen hundred sixty-eight, the contribution of each member
  made  pursuant  to section 13-325 of this subchapter shall be reduced by
  two and one-half percentum of the compensation of such member.
    (b) The reduction provided for by subparagraph  a  of  this  paragraph
  shall  be  in addition to any reduction made during the period mentioned
  in such subparagraph a pursuant to  paragraphs  four  or  five  of  this
  subdivision a. The amount of the reduction made pursuant to subparagraph
  a  of  this  paragraph  in  the  deductions  of any such member for such
  portion of the period mentioned in such  subparagraph  as  precedes  the
  effective date of this paragraph shall be refunded without interest.

    (c)  Beginning  with  the  payroll  period  the  first day of which is
  nearest to June thirtieth, nineteen hundred sixty-eight and ending  with
  the  payroll  period immediately prior to that the first day of which is
  nearest  to  June   thirtieth,   nineteen   hundred   seventy-one,   the
  contribution  of  each  member  made  pursuant to section 13-325 of this
  subchapter shall be reduced by five percentum  of  the  compensation  of
  such member.
    7.  The mayor, by executive order adopted prior to the date forty-five
  days after the adjournment of the regular session of the legislature  in
  nineteen hundred seventy-one, may direct that beginning with the payroll
  period,  the  first  day of which is nearest to June thirtieth, nineteen
  hundred seventy-one, and ending  with  the  payroll  period  immediately
  prior  to  that  the  first  day  of which is nearest to June thirtieth,
  nineteen hundred seventy-two,  the  contribution  of  each  member  made
  pursuant  to  section 13-326 of this subchapter shall be reduced by five
  per centum of the compensation of such member.
    8. The mayor, by executive order adopted prior to the date  forty-five
  days  after the adjournment of the regular session of the legislature in
  nineteen hundred seventy-two or June seventeenth of such year, whichever
  is later, may direct that beginning with the payroll period,  the  first
  day of which is nearest to June thirtieth, nineteen hundred seventy-two,
  and  ending  with the payroll period immediately prior to that the first
  day  of  which  is  nearest  to   June   thirtieth,   nineteen   hundred
  seventy-three,  the contribution of each member made pursuant to section
  13-326 of this subchapter shall be reduced  by  five  percentum  of  the
  compensation of such member.
    b. For such period of time as the reduction pursuant to the provisions
  of  subdivision  a  of  this  section  and subdivision b of section four
  hundred eighty of the retirement and social security  law  shall  be  in
  effect,  contributions  shall  be made to the contingent reserve fund by
  the city, in addition to the  city  contributions  required  by  section
  13-331  of  this  subchapter,  in  an  amount equal to the amount of the
  reduction in the contributions of such member pursuant to  this  section
  and  subdivision  b of section four hundred eighty of the retirement and
  social security law.
    c. The benefits provided pursuant to paragraph one of subdivision a of
  this section shall apply only to members of the pension fund who are  in
  active service in the uniformed force of the fire department on or after
  the  date  of  adoption  of the executive order of the mayor pursuant to
  such paragraph one.
    d. The reduction of the contribution of each original plan  member  on
  account  of  increase-take-home-pay  shall  be in the amount and for the
  period  prescribed  by  the  program  provided  for  by  the   preceding
  subdivisions  of  this section and subdivision b of section four hundred
  eighty of the retirement and social security law.
    e. (1) Subject to the provisions of the succeeding paragraphs of  this
  subdivision  e,  the  contribution of each improved benefits plan member
  pursuant  to  the  applicable  provisions  of  section  13-315  of  this
  subchapter  and/or  subdivision  b  of section 13-327 of this subchapter
  shall be reduced in the amount and for  the  period  prescribed  by  the
  program  provided  for by the preceding subdivisions of this section and
  subdivision b of section four  hundred  eighty  of  the  retirement  and
  social security law.
    (2)  (i) In the case of any elective improved benefits plan member (as
  defined in subdivision four-g of  section  13-313  of  this  subchapter)
  whose  election  of  such plan becomes effective on the starting date of
  the improved benefits plan (as  such  date  is  defined  in  subdivision
  twenty-seven  of  such  section  13-313) and prior to the termination of

  such reduction as provided for in subdivision b of section four  hundred
  eighty  of  the  retirement  and  social  security  law,  such reduction
  pursuant to paragraph one of this subdivision  e  shall  begin  on  such
  starting date.
    (ii)  In  the case of any elective improved benefits plan member whose
  election of such plan becomes effective after  such  starting  date  and
  prior  to such time of termination, such reduction pursuant to paragraph
  one of this subdivision shall  begin  on  the  effective  date  of  such
  election.
    (iii)  In  the  case of any non-elective improved benefits plan member
  (as  defined  in  subdivision  four-h  of  such  section  13-313)  whose
  membership in the pension fund begins on or after such starting date and
  prior  to such time of termination, such reduction pursuant to paragraph
  one of this subdivision shall begin on the date of commencement  of  the
  membership of such member in the pension fund.
    (iv)  Such  reduction  shall  end,  in  the case of each such elective
  improved benefits plan member or  non-elective  improved  benefits  plan
  member  above  referred  to  in  this  paragraph  two,  at  such time of
  termination provided for in subdivision b of section four hundred eighty
  of the retirement and social security law.
    (3) The contribution of each improved benefits plan  member  which  is
  made  pursuant  to  the  applicable provisions of section 13-315 of this
  subchapter and/or subdivision b of section 13-327 of this subchapter and
  which is reduced  as  provided  for  in  this  subdivision  e  shall  be
  exclusive  of  any  increase thereof pursuant to subdivisions c and d of
  such section 13-327 or any reduction thereof pursuant to subdivision one
  of section one hundred  thirty-eight-b  of  the  retirement  and  social
  security law.
    (4)  The  reduction of the contribution of each improved benefits plan
  member as prescribed by the preceding  provisions  of  this  subdivision
  shall be subject to waiver of such member as provided in paragraph seven
  of  this  subdivision  and  shall  take  precedence  over  the  member's
  privilege under subdivision one of section one hundred thirty-eight-b of
  the retirement and social security law, to decrease his or  her  annuity
  contribution  for the purpose of paying his or her contributions for old
  age, survivors and disability insurance coverage or the tax imposed upon
  him or her pursuant to the federal insurance contribution act.
    (5) For  such  period  of  time  as  the  reduction  pursuant  to  the
  provisions  of  the preceding paragraphs of this subdivision shall be in
  effect with respect to an improved benefits plan  member,  contributions
  shall be made to the contingent reserve fund by the city at a rate fixed
  by  the actuary, which shall be computed to be sufficient to provide (i)
  the pension-providing-for-increased-take-home-pay which is or may become
  payable on account of such member as an improved benefits  plan  member,
  and  (ii)  the death benefit which is or may become payable hereunder in
  the case of any such member who  is  an  improved  benefits  member  not
  subject  to  article eleven (as defined in subdivision four-i of section
  13-313 of this subchapter).
    (6)      Such      a      death      benefit      and      such      a
  pension-providing-for-increased-take-home-pay payable with respect to an
  improved    benefits    plan    member    shall    be    based    on   a
  reserve-for-increased-take-home-pay, which shall be a sum consisting  of
  the  total  of  all products obtained by multiplying the compensation of
  the improved benefits plan member, during each period  of  reduction  of
  member  contributions under the preceding paragraphs of this subdivision
  by the percentage of reduction of his or  her  contributions  applicable
  thereunder  with  respect  of such period, plus regular interest on such
  sum, and additional interest, if any, thereon.

    (7) Where an improved benefits plan member's rate of  contribution  is
  reduced     because     the     city     contributes     towards     the
  pension-providing-for-increased-take-home-pay pursuant to this  section,
  such   improved   benefits  plan  member  may  by  written  notice  duly
  acknowledged  and filed with the pension fund within one year after such
  reduction or within one year after he  or  she  last  became  a  member,
  whichever  is  later,  elect  to  waive such reduction. One year or more
  after the filing thereof, an improved benefits plan member may  withdraw
  any  such  waiver by written notice duly acknowledged and filed with the
  pension fund. Where an improved benefits plan member makes  an  election
  to  waive  such reduction he or she shall contribute to the pension fund
  as otherwise provided by the applicable provisions of section 13-315  of
  this subchapter and/or section 13-322 of this subchapter.
    (8)  An  improved  benefits  plan  member  who  waives  a reduction of
  contribution pursuant to paragraph seven  of  this  subdivision  or  who
  elects  or  has elected to discontinue his or her contributions pursuant
  to subdivision b of section 13-327 of this subchapter shall be  entitled
  to a pension-providing-for-increased-take-home-pay and death benefits in
  the  same cases and to the same extent as if such waiver or election had
  not been made.