Laws of New York (Last Updated: November 21, 2014) |
ADC New York City Administrative Code(NEW) |
Title 13. RETIREMENT AND PENSIONS |
Chapter 3. FIRE DEPARTMENT PENSION FUND AND RELATED FUNDS |
Subchapter 5. |
Section 13-383. Firefighters' variable supplements fund
Latest version.
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a. There is hereby established a fund, to be known as the firefighters' variable supplements fund. Such fund shall consist of such monies as may be paid thereto from pension fund subchapter two, pursuant to the provisions of sections 13-335 and 13-335.1 of this chapter and all other monies received by such fund from any other source pursuant to law. b. It is hereby declared by the legislature that the firefighters' variable supplements fund shall not be, and shall not be construed to constitute, a pension or retirement system or fund, and that it shall function as a means whereby payments, not constituting a pension or retirement allowance, shall be made in accordance with the provisions of this subchapter, to eligible pension fund beneficiaries as a supplement to benefits received by them under subchapter one or subchapter two of this chapter. The legislature hereby reserves to the state of New York and itself the right and power to amend, modify or repeal any or all of the provisions of this subchapter.