Section 13-546. Pensions-for-increased-take-home-pay

a.  1.  The board of
  estimate, by resolution adopted prior to June  first,  nineteen  hundred
  sixty,  may elect that the provisions of subdivisions b, e and f of this
  section shall be applicable to and for the benefit of all contributors.
    2. In the event that the board of estimate adopts such  a  resolution,
  the  provisions of subdivisions b, e and f of this section shall, on the
  date on which such subdivision b becomes operative, become applicable to
  and for the benefit of all contributors.
    3. On and after June first,  nineteen  hundred  sixty,  the  board  of
  estimate may not rescind such election.
    b. In the event that the board of estimate, pursuant to the provisions
  of  subdivision  a  of  this section, elects that the provisions of this
  subdivision and subdivisions e and f of this section shall be applicable
  to and for the benefit of contributors, then beginning with the  payroll
  period the first day of which is nearest to July first, nineteen hundred
  sixty,  and ending with the payroll period immediately prior to that the
  first day of which  is  nearest  to  June  thirtieth,  nineteen  hundred
  sixty-one,  the  contribution  of  each  contributor,  exclusive  of any
  increase in such contribution pursuant to section 13-525 or  subdivision
  two  of section 13-554 of this chapter or any reduction thereof pursuant
  to  subdivision  one  of  section  one  hundred  thirty-eight-b  of  the
  retirement and social security law, shall be reduced by two and one-half
  per  centum  of  the  salary  of  such  member. Where a member's rate of
  contribution, exclusive of any increase thereof pursuant to such section
  13-525 or subdivision two of  such  section  13-554,  or  any  reduction
  thereof  pursuant  to  subdivision  one  of  such  section  one  hundred
  thirty-eight-b,  and  before  reduction   thereof   pursuant   to   this
  subdivision,  is equal to or less than two and one-half per centum, such
  rate shall be discontinued.
    c. 1. The board of estimate,  by  resolution  adopted  prior  to  June
  first,  nineteen  hundred  sixty-one,  may  elect that the provisions of
  subdivisions d, e and f of this section shall be applicable to  and  for
  the benefit of all contributors.
    2.  In  the event that the board of estimate adopts such a resolution,
  the provisions of subdivisions d, e and f of this section shall, on  the
  date on which such subdivision d becomes operative, become applicable to
  and for the benefit of all contributors.
    3.  On  and after June first, nineteen hundred sixty-one, the board of
  estimate may not rescind such election.
    4. In making an election pursuant to the provisions of paragraphs  one
  and  two  of  this  subdivision,  the board of estimate shall select the
  percentage by which the contributions of contributors shall  be  reduced
  pursuant  to  the  provisions  of  subdivision  d  of this section. Such
  percentage shall be two and one-half per  centum  or  five  per  centum,
  whichever  such  board,  in  its  discretion,  shall  designate  in  the
  resolution making such election. Such percentage shall  not  be  changed
  after it has been designated in such resolution.
    d. In the event that the board of estimate, pursuant to the provisions
  of  subdivision  c  of  this section, elects that the provisions of this
  subdivision and of subdivisions  e  and  f  of  this  section  shall  be
  applicable  to  and for the benefit of contributors, then beginning with
  the payroll period the first day of which  is  nearest  to  July  first,
  nineteen   hundred   sixty-one,  and  ending  with  the  payroll  period
  immediately prior to that the first day of  which  is  nearest  to  June
  thirtieth,   nineteen   hundred  sixty-two,  the  contribution  of  each
  contributor, exclusive of any increase in such contribution pursuant  to
  section  13-525  or subdivision two of section 13-554 of this chapter or
  any reduction thereof pursuant to subdivision one of section one hundred

  thirty-eight-b of the retirement  and  social  security  law,  shall  be
  reduced  by the percentage selected by the board of estimate pursuant to
  the provisions of paragraph four of subdivision c of this section. Where
  a  member's  rate  of  contribution,  exclusive  of any increase thereof
  pursuant to such section 13-525  or  subdivision  two  of  such  section
  13-554,  or  any  reduction  thereof pursuant to subdivision one of such
  section  one  hundred  thirty-eight-b,  and  before  reduction   thereof
  pursuant  to this subdivision, is equal to or less than such percentage,
  such rate shall be discontinued.
    e. 1. Any reduction or discontinuance of a member's  contribution,  as
  the case may be, made pursuant to the provisions of this section, shall:
    (i)  Be subject to waiver by the member as provided in subdivision six
  of section 13-521 of this chapter, and
    (ii) 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.
    2. A contributor to whom  or  for  whose  benefit  the  provisions  of
  subdivison  b  or  d  of this section, or both, are applicable under the
  provisions of subdivisions a and c of this section, or to  whom  or  for
  whose  benefit  the  provisions  of  paragraph  four  of  subdivision g,
  paragraph four  of  subdivision  i,  paragraph  one  of  subdivision  j,
  paragraph  one  of  subdivision  k,  paragraph  one  of  subdivision  l,
  paragraph  one  of  subdivision  m,  paragraph  one  of  subdivision  n,
  paragraph one of subdivision o or paragraph one of subdivision p of this
  section  are  applicable, and who waives any reduction or discontinuance
  (to which he or she is entitled under the provisions of this section) of
  his    or    her    contribution,    shall    be    entitled    to     a
  pension-providing-for-increased-take-home-pay  and  death benefit to the
  same extent as if such waiver had not been made.
    f. 1. With respect to each contributor to whom or  for  whose  benefit
  the  provisions  of  subdivision  b  or  d of this section, or both, are
  applicable under the provisions of subdivisions a and c of this section,
  or to whom or for whose benefit the  provisions  of  paragraph  four  of
  subdivision  g,  paragraph  four  of  subdivision  i,  paragraph  one of
  subdivision  j,  paragraph  one  of  subdivision  k,  paragraph  one  of
  subdivision  l,  paragraph  one  of  subdivision  m,  paragraph  one  of
  subdivision n, paragraph one  of  subdivision  o  or  paragraph  one  of
  subdivision  p  of  this  section are applicable, contributions shall be
  made to the contingent reserve fund by the  city  with  respect  to  the
  period of such applicability, at a rate fixed by the actuary which shall
  be  computed to be sufficient to provide the death benefit hereunder and
  pension-providing-for-increased-take-home-pay which are  or  may  become
  payable on account of such contributor.
    2.        Such        a        benefit        and        such        a
  pension-providing-for-increased-take-home-pay  shall  be  based   on   a
  reserve-for-increased-take-home-pay.
    3.  (a) Notwithstanding any other provision of this title or any other
  law to the  contrary,  all  contributions  due  from  the  city  to  the
  contingent reserve fund with respect to the fiscal year nineteen hundred
  seventy-one--nineteen  hundred  seventy-two  and  with  respect  to each
  fiscal year thereafter under the provisions of  paragraph  one  of  this
  subdivision  f  shall  be  payable  with regular interest thereon in the
  second fiscal year after the fiscal year  with  respect  to  which  such
  contributions are due.

    (b)  In  any  case  where  during  the  fiscal  year  nineteen hundred
  seventy-one--nineteen hundred seventy-two or any succeeding fiscal year,
  any amount would  have  been  currently  deposited  and  credited  to  a
  variable   annuity  program  participant's  individual  account  in  the
  variable   pension  accumulation  fund,  if  subparagraph  (a)  of  this
  paragraph  three  had  not  been  enacted,  an  equal  amount  shall  be
  transferred  from the contingent reserve fund and shall be deposited and
  credited to such account at the same time and in the same manner  as  if
  such subparagraph (a) had not been enacted.
    g.    Provisions    relating   to   fiscal   year   nineteen   hundred
  sixty-two--nineteen hundred sixty-three. 1. The board  of  estimate,  by
  resolution  adopted prior to June first, nineteen hundred sixty-two, may
  elect that the provisions of paragraph four of this  subdivision  g  and
  the  provisions  of  subdivisions  e  and  f  of  this  section shall be
  applicable to and for the benefit of all contributors.
    2. In the  event  that  such  board  adopts  such  a  resolution,  the
  provisions  of  such  paragraph  four  and  of such subdivisions e and f
  shall, on the date on which such  paragraph  becomes  operative,  become
  applicable to and for the benefit of all contributors.
    3. On and after June first, nineteen hundred sixty-two, such board may
  not rescind such an election.
    4.  In  the  event  that  such  board,  pursuant  to the provisions of
  paragraphs one and two of this subdivision g, elects that the provisions
  of this paragraph four and  of  such  subdivisions  e  and  f  shall  be
  applicable  to  and  for the benefit of all contributors, then beginning
  with the payroll period the first day of which is nearest to July first,
  nineteen  hundred  sixty-two  and  ending  with   the   payroll   period
  immediately  prior  to  that  the  first day of which is nearest to June
  thirtieth,  nineteen  hundred  sixty-three,  the  contribution  of  each
  contributor,  exclusive of any increase in such contribution pursuant to
  section 13-525 or subdivision two of section 13-554 of this  chapter  or
  any reduction thereof pursuant to subdivision one of section one hundred
  thirty-eight-b  of  the  retirement  and  social  security law, shall be
  reduced by five per centum of the salary of such contributor.
    h. Where the rate of contribution of a  contributor  to  whom  or  for
  whose  benefit  the  provisions  of  paragraph  four of subdivision g or
  paragraph  four  of  subdivision  i  of  this  section  are  applicable,
  exclusive  of  any  increase  in such rate pursuant to section 13-525 or
  subdivision two of section 13-554 of  this  chapter,  or  any  reduction
  thereof   pursuant   to   subdivision   one   of   section  one  hundred
  thirty-eight-b of the retirement and social  security  law,  and  before
  reduction  thereof  pursuant to either of such paragraphs four, is equal
  to or less than five per centum, such rate shall be discontinued.
    i.   Provisions   relating   to   fiscal   year    nineteen    hundred
  sixty-three--nineteen  hundred  sixty-four and certain subsequent fiscal
  years.
    1. (a) Fiscal  year  nineteen  hundred  sixty-three--nineteen  hundred
  sixty-four.  The  board of estimate, by resolution adopted prior to June
  first,  nineteen  hundred  sixty,  may  elect  that  the  provisions  of
  subdivisions  b,  e and f of this section shall be applicable to and for
  the benefit of all contributors.
    (b)  Fiscal  year  nineteen   hundred   sixty-four--nineteen   hundred
  sixty-five.  The  mayor, by executive order adopted prior to June first,
  nineteen hundred sixty-four, may elect that the provisions of  paragraph
  four of this subdivision i and the provisions of subdivisions e and f of
  this  section  shall  be  applicable  to  and  for  the  benefit  of all
  contributors.

    (c)  Fiscal  year  nineteen   hundred   sixty-five--nineteen   hundred
  sixty-six.    The  mayor,  by  executive  order  adopted  prior  to June
  nineteenth, nineteen hundred sixty-five, may elect that  the  provisions
  of   paragraph  four  of  this  subdivision  i  and  the  provisions  of
  subdivisions  e and f of this section shall be applicable to and for the
  benefit of all contributors.   On and after  June  nineteenth,  nineteen
  hundred  sixty-five,  the  mayor  may  not rescind such an election. The
  provisions of paragraph three of this subdivision i shall not  apply  to
  an election made under this subparagraph (c).
    (d)   Fiscal   year   nineteen   hundred  sixty-six--nineteen  hundred
  sixty-seven. The  mayor,  by  executive  order  adopted  prior  to  June
  nineteenth, nineteen hundred sixty-six, may elect that the provisions of
  paragraph  four of this subdivision i and the provisions of subdivisions
  e and f of this section shall be applicable to and for  the  benefit  of
  all  contributors.  On  and  after  June  nineteenth,  nineteen  hundred
  sixty-six, the mayor may not rescind such an election. The provisions of
  paragraph three of this subdivision i shall not  apply  to  an  election
  made under this subparagraph (d).
    (e)   Fiscal   year  nineteen  hundred  sixty-seven--nineteen  hundred
  sixty-eight. The  mayor,  by  executive  order  adopted  prior  to  June
  seventeenth, nineteen hundred sixty-seven, may elect that the provisions
  of   paragraph  four  of  this  subdivision  i  and  the  provisions  of
  subdivisions e and f of this section shall be applicable to and for  the
  benefit  of  all  contributors.  On and after June seventeenth, nineteen
  hundred sixty-seven, the mayor may not rescind  such  an  election.  The
  provisions  of  paragraph three of this subdivision i shall not apply to
  an election made under this subparagraph (e).
    (f) Provisions for fiscal year nineteen hundred  sixty-eight--nineteen
  hundred sixty-nine relating to city university of New York contributors.
  The  mayor,  by  executive  order  adopted  prior  to  June seventeenth,
  nineteen hundred sixty-eight, may elect that the provisions of paragraph
  four of this subdivision i and the provisions of subdivisions e and f of
  this section  shall  be  applicable  to  and  for  the  benefit  of  all
  contributors  who  are  employees of the city university of New York. On
  and after June seventeenth, nineteen hundred sixty-eight, the mayor  may
  not  rescind such an election. The provisions of paragraph three of this
  subdivision  i  shall  not  apply  to  an  election  made   under   this
  subparagraph.
    (g)  Provisions  for fiscal year nineteen hundred sixty-nine--nineteen
  hundred seventy relating to transferred  contributors  and  contributors
  other  than  contributors who are employees of the board of education or
  the city university of New York. The mayor by  executive  order  adopted
  prior to June sixteenth, nineteen hundred sixty-nine, may elect that the
  provisions of paragraph four of this subdivision i and the provisions of
  subdivisions  e and f of this section shall be applicable to and for the
  benefit of (1) all contributors who are transferred contributors and (2)
  all contributors other than contributors who are employees of the  board
  of  education  of  the city or city university of New York. On and after
  June sixteenth, nineteen hundred sixty-nine, the mayor may  not  rescind
  such  an election. The provisions of paragraph three of this subdivision
  i shall not apply to an election made under this subparagraph.
    (h) Provisions for  fiscal  year  nineteen  hundred  seventy--nineteen
  hundred   seventy-one   relating   to   transferred   contributors   and
  contributors other than contributors who are employees of the  board  of
  education  or  city university of New York. The mayor by executive order
  adopted prior to June sixteenth, nineteen hundred seventy may elect that
  the  provisions  of  paragraph  four  of  this  subdivision  i  and  the
  provisions  of  subdivisions e and f of this section shall be applicable

  to and for the benefit of  (1)  all  contributors  who  are  transferred
  contributors  and  (2)  all contributors other than contributors who are
  employees of the board of education of the city or  city  university  of
  New  York.  On  and  after June sixteenth, nineteen hundred seventy, the
  mayor may not rescind such an  election.  The  provisions  of  paragraph
  three  of  this  subdivision i shall not apply to an election under this
  subparagraph.
    (i) Provisions for fiscal year nineteen hundred  seventy-one--nineteen
  hundred   seventy-two   relating   to   transferred   contributors   and
  contributors other than contributors who are employees of the  board  of
  education  or  city university of New York. 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
  elect that the provisions of paragraph four of this  subdivision  i  and
  the  provisions  of  subdivisions  e  and  f  of  this  section shall be
  applicable to and for the  benefit  of  (1)  all  contributors  who  are
  transferred   contributors   and   (2)   all   contributors  other  than
  contributors who are employees of the board of education of the city  or
  city  university  of  New  York.  On and after such date forty-five days
  after such adjournment, the mayor may not rescind such an election.  The
  provisions  of  paragraph three of this subdivision i shall not apply to
  an election under this subparagraph.
    (j) Provisions for fiscal year nineteen  hundred  seventy-two-nineteen
  hundred  seventy-three  relating  to  transferred contributors and other
  contributors who are not employees of the board  of  education  or  city
  university  of  New York. 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  elect  that  the  provisions of
  paragraph four of this subdivision i and the provisions of  subdivisions
  c  and  f  of this section shall be applicable to and for the benefit of
  (1) all contributors who are transferred contributors and (2) all  other
  contributors who are not employees of the board of education of the city
  or  city  university of New York. On and after such date forty-five days
  after such adjournment or such June seventeenth, whichever is later, the
  mayor may not rescind such an election. The provisons of paragraph three
  of this subdivision  i  shall  not  apply  to  an  election  under  this
  subparagraph.
    2.  In  the  event  that the mayor adopts such an executive order, the
  provisions of such paragraph four and  of  such  subdivisions  e  and  f
  shall,  on the applicable date on which such paragraph becomes operative
  with respect to the corresponding fiscal year specified in paragraph one
  of this subdivision i, become applicable to and for the benefit  of  all
  contributors  who  are designated in paragraph one of this subdivision i
  as eligible for the benefit of such order with respect  to  such  fiscal
  year.
    3.  On  and  after  June  first,  of  the  fiscal year described in an
  executive order issued pursuant  to  paragraphs  one  and  two  of  this
  subdivision i, the mayor may not rescind such an election.
    4.  In  the  event  that  the  mayor,  pursuant  to  the provisions of
  paragraphs one and two of this subdivision i, elects that the provisions
  of this paragraph four and  of  such  subdivisions  e  and  f  shall  be
  applicable  to and for the benefit of all contributors designated in the
  applicable provisions of such paragraph one as eligible for the  benefit
  of  such  election, then beginning with the payroll period the first day
  of which is nearest to July first, of the fiscal year  described  in  an
  executive  order  issued  pursuant  to  paragraphs  one  and two of this
  subdivision i and ending with the payroll period  immediately  prior  to

  that the first day of which is nearest to June thirtieth, of such fiscal
  year,  the  contribution  of  each contributor so designated as eligible
  with respect to such fiscal year, exclusive  of  any  increase  in  such
  contribution  pursuant  to  section 13-525 or subdivision two of section
  13-554 of this chapter or any reduction thereof pursuant to  subdivision
  one  of  section one hundred thirty-eight-b of the retirement and social
  security law, shall be reduced by five per centum of the salary of  such
  contributor.
    j. Provisions relating to the period September first, nineteen hundred
  sixty-seven  through  September  seven,  nineteen hundred sixty-nine for
  board of education contributors. 1.(a)  Subject  to  the  provisions  of
  sub-paragraph  (b)  of  this  paragraph  one, beginning with the payroll
  period the first day of  which  is  nearest  September  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 contributor who
  is an employee of the board of  education  of  the  city  of  New  York,
  exclusive  of  any  increase  in  such  contribution pursuant to section
  13-525 or subdivision two of section  13-554  of  this  chapter  or  any
  reduction  thereof  pursuant  to  subdivision one of section one hundred
  thirty-eight-b of the retirement  and  social  security  law,  shall  be
  reduced by three per centum of the salary of such contributor.
    (b)  The  reduction provided for by subparagraph (a) of this paragraph
  one shall be in  addition  to  any  reduction  made  during  the  period
  mentioned  in  such  subparagraph  (a)  pursuant  to subparagraph (e) of
  paragraph one of subdivision i  of  this  section.  The  amount  of  the
  reduction made pursuant to subparagraph (a) of this paragraph one in the
  contribution  of  any  such  contributor  for such portion of the period
  mentioned in such subparagraph (a) as precedes  the  effective  date  of
  this  subdivision  shall  be  refunded  by  the retirement board without
  interest unless such reduction has been waived pursuant to subdivision e
  of this section.  Where the rate of contribution  of  such  contributor,
  exclusive  of  any  increase  in such rate pursuant to section 13-525 or
  subdivision two of section 13-554, or any reduction thereof pursuant  to
  subdivision  one of section one hundred thirty-eight-b of the retirement
  and social security  law,  and  before  reduction  thereof  pursuant  to
  subparagraph  (a)  of  this paragraph is equal to or less than three per
  cent during the period mentioned in such  subparagraph  (a),  such  rate
  shall be discontinued.
    (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  September  seventh,  nineteen   hundred   sixty-nine,   the
  contribution  of  each  contributor  who  is an employee of the board of
  education of the city of New York, exclusive of  any  increase  in  such
  contribution  pursuant  to  section 13-525 or subdivision two of section
  13-554 of this chapter or any reduction thereof pursuant to  subdivision
  one  of  section one hundred thirty-eight-b of the retirement and social
  security law, shall be reduced by eight per centum of the salary of such
  contributor.  Where  the  rate  of  contribution  of  such  contributor,
  exclusive  of  any  increase  in such rate pursuant to section 13-525 or
  subdivision two of section 13-554, or any reduction thereof pursuant  to
  subdivision  one of section one hundred thirty-eight-b of the retirement
  and social security law, and before reduction thereof pursuant  to  this
  subparagraph  (c),  is  equal  to or less than eight per cent, such rate
  shall be discontinued.

    2. The provisions of subdivisions e and f of  this  section  shall  be
  applicable  to and for the benefit of all contributors who are employees
  of the board of education of the city of New York.
    k. Provisions relating to the period September first, nineteen hundred
  sixty-nine  through  August  thirty-first,  nineteen hundred seventy for
  board of education contributors.
    1. Beginning with the  payroll  period  the  first  day  of  which  is
  September first, nineteen hundred sixty-nine and ending with the payroll
  period  the  last  day of which is August thirty-first, nineteen hundred
  seventy, the contribution of each contributor who is an employee of  the
  board  of  education  of  the  city,  exclusive  of any increase in such
  contribution pursuant to section 13-525 or subdivision  two  of  section
  13-554  of this chapter or any reduction thereof pursuant to subdivision
  one of section one hundred thirty-eight-b of the retirement  and  social
  security law, shall be reduced by eight per centum of the salary of such
  contributor.    Where  the  rate  of  contribution  of such contributor,
  exclusive of any increase in such rate pursuant  to  section  13-525  or
  subdivision  two of section 13-554, or any reduction thereof pursuant to
  subdivision one of section one hundred thirty-eight-b of the  retirement
  and  social  security law, and before reduction thereof pursuant to this
  subdivision k, is equal to or less than eight per cent, such rate  shall
  be discontinued.
    2.  The  provisions  of  subdivision  e and f of this section shall be
  applicable to and for the benefit of all contributors who are  employees
  of the board of education of the city.
    l. Provisions relating to the period September first, nineteen hundred
  sixty-eight  through  August  thirty-first, nineteen hundred seventy for
  city university  of  New  York  contributors.  1.  (a)  Subject  to  the
  provisions  of  subparagraph  (b)  of  this  paragraph one, the mayor by
  executive order  adopted  prior  to  June  sixteenth,  nineteen  hundred
  sixty-nine,  may elect that, beginning with the payroll period the first
  day of which is nearest September first, 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  sixty-nine,
  the  contribution  of  each  contributor  who is an employee of the city
  university of New York, exclusive of any increase in  such  contribution
  pursuant  to section 13-525 or subdivision two of section 13-554 of this
  chapter or any reduction thereof pursuant to subdivision one of  section
  one  hundred  thirty-eight-b  of the retirement and social security law,
  shall be reduced by three percentum of the salary of  such  contributor.
  On  and after June sixteenth, nineteen hundred sixty-nine, the mayor may
  not rescind such an election.
    (b) Any reduction made pursuant to subparagraph (a) of this  paragraph
  one  shall  be  in  addition  to  any  reduction  made during the period
  mentioned in such subparagraph  (a)  pursuant  to  subparagraph  (f)  of
  paragraph  one  of  subdivision  i  of  this  section. The amount of any
  reduction made pursuant to subparagraph (a) of this paragraph one in the
  contribution of any such contributor for  such  portion  of  the  period
  mentioned  in  such  subparagraph  (a)  as precedes July first, nineteen
  hundred sixty-nine, shall be refunded by the  retirement  board  without
  interest unless such reduction has been waived pursuant to subdivision e
  of  this  section.  Where  the rate of contribution of such contributor,
  exclusive of any increase in such rate pursuant  to  section  13-525  or
  subdivision  two of section 13-554, or any reduction thereof pursuant to
  subdivision one of section one hundred thirty-eight-b of the  retirement
  and  social  security  law,  and  before  reduction  thereof pursuant to
  subparagraph (a) of this paragraph  is  equal  to  or  less  than  three
  percent during the period mentioned in such subparagraph (a), such rate,

  if  such  reduction  be made pursuant to such subparagraph (a), shall be
  discontinued.
    (c)  The  mayor  by  executive  order adopted prior to June sixteenth,
  nineteen hundred sixty-nine may elect that beginning  with  the  payroll
  period  the  first  day  of which is nearest to June thirtieth, nineteen
  hundred sixty-nine and ending with the payroll period the  last  day  of
  which is August thirty-first, nineteen hundred seventy, the contribution
  of  each  contributor  who  is an employee of the city university of New
  York, exclusive of any increase in such contribution pursuant to section
  13-525 or subdivision two of section  13-554  of  this  chapter  or  any
  reduction  thereof  pursuant  to  subdivision one of section one hundred
  thirty-eight-b of the retirement  and  social  security  law,  shall  be
  reduced  by eight percentum of the salary of such contributor. Where the
  rate of contribution of such contributor, exclusive of any  increase  in
  such  rate  pursuant  to  section  13-525  or subdivision two of section
  13-554, or any reduction thereof pursuant to subdivision one of  section
  one  hundred  thirty-eight-b  of the retirement and social security law,
  and before reduction thereof pursuant to this subparagraph (c), is equal
  to or less than eight per cent, such rate, if  such  reduction  be  made
  pursuant  to  this subparagraph (c), shall be discontinued. On and after
  June sixteenth, nineteen hundred sixty-nine, the mayor may  not  rescind
  such an election.
    2.  The  provisions  of  subdivisions e and f of this section shall be
  applicable to and for the benefit of all contributors who are  employees
  of the city university of New York.
    m. Provisions relating to the period September first, nineteen hundred
  seventy  through  August  thirty-first, nineteen hundred seventy-one for
  board of education contributors.
    1. (a) Beginning with the payroll period the first  day  of  which  is
  July  first, nineteen hundred seventy and ending with the payroll period
  the  last  day  of  which  is  August  thirty-first,  nineteen   hundred
  seventy-one,  the contribution of each contributor who is an employee of
  the board of education of the city, exclusive of any  increase  in  such
  contribution  pursuant  to  section 13-525 or subdivision two of section
  13-554 of this chapter or any reduction thereof pursuant to  subdivision
  one  of  section one hundred thirty-eight-b of the retirement and social
  security  law,  shall,  if  a  bill  entitled  "An  act  to  amend   the
  administrative  code  of  the city of New York, in relation to providing
  additional rights, privileges and benefits for contributors to  the  New
  York  city  teachers'  retirement  system, including optional retirement
  plans" is enacted into law, be reduced by five percentum of  the  salary
  of   such  contributor.     Where  the  rate  of  contribution  of  such
  contributor, exclusive of any increase in such  rate  pursuant  to  such
  section  13-525  or  subdivision  two  of  such  section  13-554, or any
  reduction thereof pursuant to subdivision one  of  section  one  hundred
  thirty-eight-b  of  the  retirement  and social security law, and before
  reduction thereto pursuant to this paragraph one, is equal  to  or  less
  than five per cent, such rate shall be discontinued.
    (b) If such bill referred to in subparagraph (a) of this paragraph one
  is  enacted, (i) the reduction in contributions of contributors provided
  for in subparagraph (a) of this paragraph one with respect to the months
  of July and August, nineteen hundred seventy shall be  in  lieu  of  and
  shall supersede the reductions in contributions of contributors provided
  for  with  respect  to  such months by paragraph one of subdivision k of
  this section, and (ii) the reduction in  contributions  of  contributors
  provided  for  with  respect  to  such  months  by paragraph one of such
  subdivision k shall not be made.

    2. In the event that the bill hereinabove entitled is not enacted into
  law, then beginning with the payroll period the first day  of  which  is
  September  first,  nineteen  hundred seventy and ending with the payroll
  period the last day of which is August  thirty-first,  nineteen  hundred
  seventy-one,  the contribution of each contributor who is an employee of
  the board of education of the city, exclusive of any  increase  in  such
  contribution  pursuant  to  section 13-525 or subdivision two of section
  13-554 of this chapter or any reduction thereof pursuant to  subdivision
  one  of  section one hundred thirty-eight-b of the retirement and social
  security law, shall be reduced by eight per centum of the salary of such
  contributor.  Where  the  rate  of  contribution  of  such  contributor,
  exclusive  of  any increase in such rate pursuant to such section 13-525
  or subdivision two of such section  13-554,  or  any  reduction  thereof
  pursuant to subdivision one of section one hundred thirty-eight-b of the
  retirement  and  social  security  law,  and  before  reduction  thereof
  pursuant to this paragraph two, is equal to or less than eight per cent,
  such rate shall be discontinued.
    3. The provisions of subdivisions e and f of  this  section  shall  be
  applicable  to and for the benefit of all contributors who are employees
  of the board of education of the city.
    n. Provisions relating to the period September first, nineteen hundred
  seventy through August thirty-first, nineteen  hundred  seventy-one  for
  city university of New York contributors.
    1.  (a)  Beginning  with  the payroll period the first day of which is
  July first, nineteen hundred seventy and ending with the payroll  period
  the   last  day  of  which  is  August  thirty-first,  nineteen  hundred
  seventy-one, the contribution of each contributor who is an employee  of
  the  city  university  of  New  York,  exclusive of any increase in such
  contribution pursuant to section 13-525 on subdivision  two  of  section
  13-554  of  section  one  hundred  thirty-eight-b  of the retirement and
  social security law, shall, if a bill entitled  "An  act  to  amend  the
  administrative  code  of  the city of New York, in relation to providing
  additional rights, privileges and benefits for contributors to  the  New
  York  city  teachers'  retirement  system, including optional retirement
  plans" is enacted into law, be reduced by five percentum of  the  salary
  of   such  contributor.     Where  the  rate  of  contribution  of  such
  contributor, exclusive of any increase in such rate pursuant to  section
  13-525  or  subdivision  two of section 13-554, or any reduction thereof
  pursuant to subdivision one of section one hundred thirty-eight-b of the
  retirement  and  social  security  law,  and  before  reduction  thereof
  pursuant  to this paragraph one, is equal to or less than five per cent,
  such rate, if such reduction be made pursuant  to  this  paragraph  one,
  shall be discontinued.
    (b)  If the bill referred to in subparagraph (a) of this paragraph one
  is enacted, (i) the reduction in contributions of contributors  provided
  for in subparagraph (a) of this paragraph one with respect to the months
  of  July  and  August,  nineteen hundred seventy shall be in lieu of and
  shall supersede the reductions in contributions of contributors provided
  for with respect to such months by subparagraph (c) of paragraph one  of
  subdivision  l  of this section, and (ii) the reduction in contributions
  of contributors provided  for  with  respect  to  such  months  by  such
  subparagraph (c) shall not be made.
    2. In the event that the bill hereinabove entitled is not enacted into
  law,  then  beginning  with the payroll period the first day of which is
  September first, nineteen hundred seventy and ending  with  the  payroll
  period  the  last  day of which is August thirty-first, nineteen hundred
  seventy-one, the contribution of each contributor who is an employee  of
  the  city  university  of  New  York,  exclusive of any increase in such

  contribution pursuant to section 13-525 or subdivision  two  of  section
  13-554  of this chapter or any reduction thereof pursuant to subdivision
  one of section one hundred thirty-eight-b of the retirement  and  social
  security  law, shall be reduced by eight percentum of the salary of such
  contributor.  Where  the  rate  of  contribution  of  such  contributor,
  exclusive  of  any  increase  in such rate pursuant to section 13-525 or
  subdivision two of section 13-554, or any reduction thereof pursuant  to
  subdivision  one of section one hundred thirty-eight-b of the retirement
  and social security law, and before reduction thereof pursuant  to  this
  paragraph  two,  is  equal to or less than eight per cent, such rate, if
  such reduction  be  made  pursuant  to  this  paragraph  two,  shall  be
  discontinued.
    3.  The  provisions  of  subdivisions e and f of this section shall be
  applicable to and for the benefit of all contributors who are  employees
  of the city university of New York.
    o. Provisions relating to the period September first, nineteen hundred
  seventy-one  through  August  thirty-first, nineteen hundred seventy-two
  for board of education and city university of New York contributors.  1.
  Beginning  with  the  payroll period the first day of which is September
  first, nineteen hundred seventy-one and ending with the  payroll  period
  the   last  day  of  which  is  August  thirty-first,  nineteen  hundred
  seventy-two, the contribution of each contributor who is an employee  of
  the  board of education or city university of New York, exclusive of any
  increase in such contribution pursuant to section 13-525 or  subdivision
  two  of section 13-554 of this chapter or any reduction thereof pursuant
  to  subdivision  one  of  section  one  hundred  thirty-eight-b  of  the
  retirement  and  social security law, shall be reduced by five percentum
  of the salary of such contributor. Where the  rate  of  contribution  of
  such  contributor,  exclusive  of  any increase in such rate pursuant to
  such section 13-525 or subdivision two of such section  13-554,  or  any
  reduction  thereof  pursuant  to  subdivision one of section one hundred
  thirty-eight-b of the retirement and social  security  law,  and  before
  reduction  thereof  pursuant  to this paragraph one, is equal to or less
  than five per cent, such rate shall be discontinued.
    2. The provisions of subdivisions e and f of  this  section  shall  be
  applicable  to and for the benefit of all contributors who are employees
  of the board of education or city university of New York.
    p. Provisions relating to the period September first, nineteen hundred
  seventy-two through August thirty-first, nineteen hundred  seventy-three
  for board of education and city university of New York. 1. 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 elect that beginning with the payroll period the first day of
  which is September first, nineteen hundred seventy-two and  ending  with
  the  payroll  period  the  last  day  of  which  is August thirty-first,
  nineteen hundred seventy-three, the contribution of each contributor who
  is an employee of the board of education or city university of New York,
  exclusive of any increase  in  such  contribution  pursuant  to  section
  13-525  or  subdivision  two  of  section  13-554 of this chapter of any
  reduction thereof pursuant to subdivision one  of  section  one  hundred
  thirty-eight-b  of  the  retirement  and  social  security law, shall be
  reduced by five percentum of the salary of  such  contributor.  If  such
  election  is  made  by  the  mayor,  then  in any case where the rate of
  contribution of any such contributor, exclusive of any increase in  such
  rate  pursuant to such section 13-525 or subdivision two of such section
  13-554, or any reduction thereof pursuant to subdivision one of  section
  one  hundred  thirty-eight-b  of the retirement and social security law,

  and before reduction thereof pursuant to this paragraph one, is equal to
  or less than five per cent, such rate shall be discontinued.
    2.  The  provisions  of  subdivisions e and f of this section shall be
  applicable to and for the benefit of all contributors who are  employees
  of the board of education or city university of New York.