Section 13-617. Composition of fund  


Latest version.
  • a. The health department pension fund
      shall consist of the following:
        1.  The  capital,  interest,  income,   dividends,   cash,   deposits,
      securities and credits in such fund on the day this section, as amended,
      shall take effect.
        2.  Except  as  provided  in subdivision c of this section, all moneys
      collected from fines and penalties for violations of the health code  or
      health laws in the city, including fines for violations of orders issued
      pursuant  to  sections 17-104, 17-107, 17-108 and 17-165 of the code and
      all moneys received from the issuance or  granting  of  permits  by  the
      board  of  health  of the department of health and mental hygiene and by
      the commissioner of health and mental hygiene  pursuant  to  the  health
      code.
        3.  A  sum  of  money equal to but not greater than one percent of the
      monthly pay, salary or compensation of each member of such  fund,  which
      sum  shall  be  deducted  semi-monthly  by the comptroller from the pay,
      salary or compensation of each member, and such  comptroller  is  hereby
      authorized,  empowered  and  directed  to  deduct such sum of money, and
      forthwith to pay the same  to  the  board  of  trustees  of  the  health
      department pension fund.
        4. If the assets in the sources enumerated in paragraphs one and three
      of  this  subdivision  shall  be  insufficient, during an ensuing fiscal
      year, to pay all pensions,  allowances,  benefits,  grants,  awards  and
      payments  pursuant  to this subchapter during such fiscal year, it shall
      be the duty of the board of trustees  at  the  time  of  submitting  its
      estimate  to  the director of the budget for such year, to submit a full
      and detailed statement of  the  assets  of  such  fund  and  the  amount
      required, during such year, to pay all such sums in full. There shall be
      included  in  the  budget  for such year a sum sufficient to provide for
      such deficiency. The comptroller shall pay the money so provided to  the
      board of trustees.
        b.  All  such  moneys  collected  by the department, officers, clerks,
      judges  of  the  criminal  courts  and  courts  shall  be  paid  to  the
      commissioner of finance within thirty days after such payment. Except as
      provided  in  subdivision  c  of this section, such moneys shall be paid
      over to the board of trustees of the health department pension fund.
        c. In  the  event  that  the  assets  in  the  sources  enumerated  in
      paragraphs  one  and  three  of  subdivision  a of this section shall be
      sufficient,  during  an  ensuing  fiscal  year,  to  pay  all  pensions,
      allowances,  benefits,  grants,  awards,  and  payments pursuant to this
      subchapter  during  such  fiscal  year  or  when  the  city  shall  make
      appropriation  for such year pursuant to paragraph four of subdivision a
      of this section, the moneys  collected  during  such  year  pursuant  to
      paragraph  two  of subdivision a and subdivision b of this section shall
      be paid into the general fund of the city.
        d. In the event that the assets in the fund at the end of  the  fiscal
      year  terminating  June  thirtieth,  nineteen  hundred  forty-one, shall
      exceed the amount required to pay all  pensions,  allowances,  benefits,
      grants,  awards and payments pursuant to this subchapter during the next
      fiscal year, the surplus therein shall be paid into the general fund.