Laws of New York (Last Updated: November 21, 2014) |
ADC New York City Administrative Code(NEW) |
Title 13. RETIREMENT AND PENSIONS |
Chapter 5. MISCELLANEOUS PENSION AND RETIREMENT PROVISIONS |
Subchapter 6. SUPPLEMENTAL PENSIONS |
Article 1. |
Section 13-646. Computation of supplemental pensions
Latest version.
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1. Subject to the filing of verified applications for such payments by person entitled thereto, the monthly supplemental pension to be paid to a city retired employee shall be computed by (a) Multiplying by forty (or forty-three and two-fifths in a case where a retired employee may receive a maximum retirement allowance or pension, computed without optional modification, of thirteen hundred two dollars) the number of years not exceeding thirty, of allowable and credited service on which his or her retirement allowance or pension is based, (b) subtracting therefrom the amount of his or her annual retirement allowance or pension, computed without optional modification, and (c) dividing the result so obtained by twelve. 2. In no event shall the monthly supplemental pension paid to a city retired employee exceed (a) twenty-five dollars, or thirty-three dollars and fifty cents in any case where the maximum under paragraph (b) of this subdivision is one hundred eight dollars and fifty cents, or (b) an amount which when added to an amount equal to one-twelfth of his or her annual retirement allowance or pension, computed without optional modification, exceeds the sum of one hundred dollars, or one hundred eight dollars and fifty cents. (1) in the case of a retired employee who attained age sixty-five before April first, nineteen hundred fifty-six or who attains such age on or after such date, beginning with April first, nineteen hundred fifty-six or with the first of the month following the date such retired employee attains the age of sixty-five years; (2) in the case of a retired female person who attained age sixty-two before April first, nineteen hundred fifty-seven or who attains such age on or after such date, beginning with April first, nineteen hundred fifty-seven or with the first of the month following the date such retired employee attains the age of sixty-two years; and (3) in the case of a person retired for disability, either before or after attaining age fifty, who attained such age before April first, nineteen hundred fifty-seven, or who attains such age on or after such date, beginning with April first, nineteen hundred fifty-seven, or with the first of the month following the date such retired employee attains the age of fifty years. 3. For the purposes of this section, in determining the number of years of allowable and credited service, a major fraction or decimal of a year shall be counted as a full year. 4. If any salary or time adjustment is pending then the supplemental pension payments to be received by a city retired employee shall be regarded as payments on account of any increase in pension or retirement allowance to which such city retired employee may become entitled by reason of such salary or time adjustment, and may be offset from any increased pension payment or retired allowance which may become payable to such city retired employee by reason of such adjustment. 5. Notwithstanding any other provision of this article. (a) any person who was retired prior to July first, nineteen hundred sixty and who as a result of such retirement receives a retirement allowance or pension from the New York city teachers' retirement system, who attained age sixty-five before April first, nineteen hundred fifty-six, or who attains such age on or after such date and who is receiving or is entitled to receive a supplemental pension pursuant to this article on or after such date shall, beginning with the month of April, nineteen hundred fifty-six, if he or she is then sixty-five years of age or beginning with the month thereafter during which he or she attains age sixty-five, receive a monthly supplemental pension in an amount which when added to his or her monthly retirement allowance or pension, computed without optional modification, shall be equal to one hundred eight dollars fifty cents; (b) in the case of any female person meeting such requirements, who was retired prior to July first, nineteen hundred sixty and who, as a result of such retirement receives a retirement allowance or pension from the New York city teachers' retirement system, who attained age sixty-two before April first, nineteen hundred fifty-seven, or who attains such age on or after such date and who is receiving or is entitled to receive a supplemental pension pursuant to this article on or after such date shall, beginning with the month of April, nineteen hundred fifty-seven, if she is then sixty-two years of age or beginning with the month thereafter during which she attains age sixty-two, receive a monthly retirement allowance or pension in an amount which, when added to her monthly retirement allowance or pension, computed without optional modification, shall be equal to one hundred eight dollars and fifty cents; (c) in the case of any person retired for disability before July first nineteen hundred sixty who receives a disability retirement allowance or pension from the New York city teachers' retirement system, effective either before or after attaining age fifty, who attained such age before April first, nineteen hundred fifty-seven, or who attains such age on or after such date and who is receiving or is entitled to receive a supplemental pension pursuant to this article on or after such date shall, beginning with the month of April, nineteen hundred fifty-seven, if he or she is then fifty years of age or beginning with the month thereafter during which he or she attains age fifty, receive a monthly retirement allowance or pension in an amount which when added to his or her monthly retirement allowance or pension, computed without optional modification, shall be equal to one hundred eight dollars and fifty cents.