Section 13-361. Vested retirement rights; improved benefits plan members

a.
  Any improved benefits plan member who:
    (1)  discontinues  fire  uniformed  force  service  (as   defined   in
  subdivision  sixteen-c of section 13-313 of this subchapter) on or after
  the starting date of the improved benefits plan (as such date is defined
  in subdivision twenty-seven of  such  section  13-313),  other  than  by
  death, retirement or dismissal; and
    (2)  prior  to  such  discontinuance,  completed five or more years of
  allowable fire uniformed force service; and
    (3) does not withdraw his or her accumulated deductions in whole or in
  part; and
    (4) at least thirty days prior to the  date  of  such  discontinuance,
  filed  a  duly  executed application for a deferred retirement allowance
  hereunder; shall have a vested right to receive  a  deferred  retirement
  allowance as provided in this section.
    b. (1) Upon such discontinuance under the conditions and in compliance
  with  the  provisions  of  subdivision  a of this section, such deferred
  retirement allowance shall vest automatically.
    (2) Such retirement allowance shall become  payable  on  the  earliest
  date on which such improved benefits plan discontinued member could have
  retired for service if discontinuance had not occurred.
    c.  Such  deferred  retirement  allowance,  in the case of an improved
  benefits plan discontinued member not  subject  to  article  eleven  (as
  defined  in subdivision sixteen-e of such section 13-313), shall consist
  of:
    (1) an annuity which is the actuarial equivalent of an amount equal to
  such member's accumulated deductions for the period of his or  her  fire
  uniformed  force service, plus any accumulated contributions transferred
  to his or her credit pursuant to section forty-three of  the  retirement
  and social security law, as the total of such accumulated deductions and
  contributions  is  on  the earliest date on which such member could have
  retired for service; and
    (2) a pension, which together with his or her annuity shall  be  equal
  to:
    (i) in the case of any such improved benefits plan discontinued member
  not   subject  to  article  eleven  whose  minimum  period  for  service
  retirement is twenty years, two and  one-half  percent  of  his  or  her
  annual earnable compensation on the date of his or her discontinuance of
  fire uniformed force service, multiplied by a number equal to the number
  of  years  of  allowable fire uniformed force service credited to him or
  her on the date of such discontinuance, plus the number of  his  or  her
  years  of  service  for which credit was transferred pursuant to section
  forty-three of the retirement and social security law; or
    (ii) in the case of  any  such  improved  benefits  plan  discontinued
  member  not  subject  to article eleven whose minimum period for service
  retirement is twenty-five years,  two  percent  of  his  or  her  annual
  earnable  compensation  on the date of his or her discontinuance of fire
  uniformed force service, multiplied by a number equal to the  number  of
  years  of  allowable fire uniformed force service credited to him or her
  on the date of his or her  discontinuance  of  such  service,  plus  the
  number  of  years of his or her service for which credit was transferred
  pursuant to section forty-three of the retirement  and  social  security
  law; and
    (3)  for  each year, or fraction thereof, of his or her service credit
  transferred from the New  York  city  employees'  retirement  system,  a
  pension   of   fifty-five   percent   of  one-sixtieth  of  his  or  her
  five-year-average compensation (as defined in subdivision six-a of  such
  section 13-313) if such service credit was for service rendered prior to

  October  first,  nineteen  hundred  fifty-one or seventy-five percent of
  one-sixtieth of  his  or  her  five-year-average  compensation  if  such
  service  was  rendered  on  or  after  October  first,  nineteen hundred
  fifty-one.
    d.  For  the  purpose  only of determining the pension portion of such
  retirement allowance pursuant to paragraphs one and two of subdivision c
  of this section, the annuity referred to in such paragraph one shall  be
  computed  as  it  would  be  (1) if it were not reduced by the actuarial
  equivalent of any outstanding loan, (2) if it were not increased by  the
  actuarial equivalent of any additional contributions, (3) if it were not
  reduced  by  reason  of  such  member's  election to decrease his or her
  annuity contributions in order to apply the amount of such reduction  in
  payment  of his or her contributions for old-age and survivors insurance
  coverage, (4) as it would be without any optional modification, and  (5)
  as  it  would be, in the case of any improved benefits plan discontinued
  member not subject to article eleven who is subject  to  a  contribution
  rate  deficiency (as defined in subdivision twenty-one of section 13-313
  of this subchapter), if  the  whole  or  any  part  of  such  deficiency
  remaining  unpaid  at  the  time  when such retirement allowance becomes
  payable had been paid to  the  pension  fund  on  his  or  her  date  of
  commencement  of  contributions  as an improved benefits plan member (as
  defined in subdivision nineteen of such section 13-313).
    d-1. Such deferred retirement allowance, in the case  of  an  improved
  benefits  plan discontinued member subject to article eleven (as defined
  in subdivision sixteen-f of such section 13-313), shall  consist  of  an
  annuity   and   pension   determined   pursuant  to  the  provisions  of
  subdivisions c and d of this section, except to the extent  and  in  the
  manner that any such provision is modified by article eleven.
    e.  Regular  interest  on  the  accumulated  deductions of an improved
  benefits   plan   discontinued   member    and    on    his    or    her
  reserve-for-increased-take-home-pay     shall    be    credited    after
  discontinuance of fire uniformed force service at the rate  which  would
  be applicable if he or she had not discontinued such service.
    f.  If  an  improved  benefits  plan  discontinued  member dies before
  attaining the earliest age at which he or she  could  have  retired  for
  service  if  discontinuance  had  not  occurred,  his or her accumulated
  deductions shall be paid (1) to the beneficiary designated by him or her
  pursuant to section 13-346 of this subchapter  to  receive  his  or  her
  accumulated  deductions in the event that such deductions were to become
  payable under such section, or (2) if  such  member  had  made  no  such
  designation, to his or her estate.
    g.  An improved benefits plan discontinued member may elect any option
  under section 13-369 of this subchapter at any time prior to  the  first
  payment  on  account  of  his  or  her  retirement  allowance under this
  section.
    h. Withdrawal of accumulated deductions, in whole or  in  part,  after
  discontinuance  of  fire  uniformed  force  service, shall terminate the
  right to a deferred retirement allowance under this section.
    i. If an improved  benefits  plan  discontinued  member  who  has  not
  withdrawn  his  or  her accumulated deductions in whole or in part shall
  subsequently re-enter fire uniformed force service before  the  earliest
  date on which such improved benefits plan discontinued member could have
  retired  for service if discontinuance had not occurred, he or she shall
  be entitled to the service credit and status to  which  he  or  she  was
  entitled  immediately  prior  to  his  or  her  discontinuance  of  fire
  uniformed force service and shall be credited with regular  interest  on
  his    or    her    accumulated    deductions    and    his    or    her
  reserve-for-increased-take-home-pay from the time of such discontinuance

  to the time of his or her re-entry into fire uniformed force service, at
  the rate which  would  have  been  applicable  if  he  or  she  had  not
  discontinued such service.
    j.  (1)  If  an improved benefits plan discontinued member who has not
  withdrawn his or her accumulated deductions in whole or  in  part  shall
  subsequently  and  on  or after the earliest date on which such improved
  benefits plan discontinued member could  have  retired  for  service  if
  discontinuance had not occurred, re-enters fire uniformed force service,
  the  payment of his or her pension only shall be suspended and forfeited
  during the period of such fire uniformed force service, except as herein
  otherwise provided.
    (2) Such improved benefits plan discontinued member may again become a
  member of the pension fund, if within  ninety  days  after  his  or  her
  return  to fire uniformed force service, he or she files a duly executed
  and acknowledged application for such membership.
    (3) (i) Subject to the provisions of subparagraphs (ii) and  (iii)  of
  this paragraph three, if such beneficiary shall again become a member of
  the  pension  fund,  the  payment  of  his  or her annuity shall also be
  suspended and  forfeited  and  his  or  her  annuity  reserve  shall  be
  transferred  to  his or her credit in the annuity savings fund and he or
  she shall become such member as a new entrant.
    (ii) If such improved benefits plan discontinued member, at  the  time
  of  his  or  her  discontinuance of fire uniformed force service, was an
  improved benefits  plan  discontinued  member  not  subject  to  article
  eleven, he or she shall, as such new entrant, continue to be an improved
  benefits plan discontinued member not subject to article eleven. If such
  improved  benefits  plan  discontinued member, at the time of his or her
  discontinuance of fire uniformed force service, was an improved benefits
  plan discontinued member subject to article eleven, he or she shall,  as
  such  new entrant, continue to be an improved benefits plan discontinued
  member subject to article eleven.
    (iii) Any improved benefits plan discontinued member who again becomes
  a member of the pension fund pursuant to the provisions of paragraph two
  of this subdivision j and the preceding subparagraphs of this  paragraph
  three,  shall  contribute to such fund at the rate (before modification,
  if any, to which such improved benefits plan discontinued member may  be
  entitled  pursuant  to section 13-326 of this subchapter) at which he or
  she would have been contributing if he or she had not discontinued  fire
  uniformed force service.
    (iv) Upon the subsequent retirement of any such improved benefits plan
  discontinued member who, pursuant to the provisions of subparagraph (ii)
  of  this  paragraph  three,  is  an  improved benefits plan discontinued
  member not subject to article eleven, he or she shall be  credited  with
  all  of  his  or  her  service as a member subsequent to his or her last
  restoration to membership  and  he  or  she  shall  receive  therefor  a
  retirement  allowance,  payable  in  such form as he or she shall select
  under section 13-369 of this subchapter, consisting of:
    (A) an annuity which  is  the  actuarial  equivalent  of  his  or  her
  accumulated deductions at the time of such retirement; and
    (B)  a  pension  equal  to  one-sixtieth  of his or her average annual
  earnings from the date of his or her re-entry  into  membership  to  the
  date  of  his  or her subsequent retirement, multiplied by the number of
  years of his or her allowable service in the uniformed force of the fire
  department rendered by him or her from such date of re-entry; and
    (C)  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  be  entitled,  if  any,  for  the period of his or her

  allowable service in the uniformed force of the fire department rendered
  by him or her from such date of re-entry.
    (v)  Upon the subsequent retirement of any such improved benefits plan
  discontinued member who, pursuant to the provisions of subparagraph (ii)
  of this paragraph three,  is  an  improved  benefits  plan  discontinued
  member  subject  to article eleven, he or she shall be credited with all
  of his or her service  as  a  member  subsequent  to  his  or  her  last
  restoration  to  membership  and  he  or  she  shall  receive therefor a
  retirement  allowance  determined  pursuant   to   the   provisions   of
  subparagraph  (iv)  of this paragraph three, except to the extent and in
  the manner that any such provision is modified by article eleven.
    (vi) In addition to the applicable retirement allowance  provided  for
  by  subparagraph  (iv) or subparagraph (v) of this subdivision j, as the
  case may be, any such improved benefits plan discontinued  member,  upon
  his  or her subsequent retirement, shall receive the pension which he or
  she was receiving or entitled to receive immediately prior to his or her
  last restoration.
    (vii) If, after the restoration of any  such  improved  benefits  plan
  discontinued  member subject to article eleven, he or she separates from
  service at a time when he or she  is  ineligible  to  retire  under  the
  provisions  of such article eleven, he or she shall receive a retirement
  allowance which shall consist of  an  annuity  which  is  the  actuarial
  equivalent  of  his  or  her  accumulated  deductions  and  the pension,
  including  the  pension-providing-for-increased-take-home-pay,  if  any,
  which  he  or she was receiving or entitled to receive immediately prior
  to his or her last restoration.
    (viii) In lieu of suspension  during  restoration  to  fire  uniformed
  force  service  of any benefits payable in the event of his or her death
  by reason of any optional selection in respect to his  or  her  pension,
  any  such beneficiary may pay to the fund or funds from which his or her
  ordinary pension was payable, the amount by which his  or  her  ordinary
  pension  exceeded the optional pension heretofore granted to him or her,
  in which event such optional benefit shall continue and  be  payable  in
  the event of his or her death as though no payment was suspended.
    k.  Notwithstanding  any other provision of law, a discontinued member
  with ten or more years of credited service in the pension fund who  dies
  before  a  retirement  benefit  becomes payable and who is otherwise not
  entitled to a death benefit from the pension fund  shall  be  deemed  to
  have  died  on the last day that he or she was in service upon which his
  or her membership was based for purposes of eligibility for the  payment
  of  a death benefit pursuant to the provisions of section 13-346 of this
  title. The death benefit payable in such case shall be one-half of  that
  which  would have been payable had such member died on the last day that
  service was rendered.