Section 6252. Rates of contribution  


Latest version.
  • 1. Employer contributions. In the case
      of  any  electing  employee  initially  appointed  on  or  before   June
      thirtieth,   nineteen   hundred   ninety-two,  the  city  shall,  during
      continuance of his employment, makes contributions at the rate  of  nine
      percentum  of  that  portion of his city salary upon which contributions
      are or may hereafter be paid to the secretary of  the  treasury  of  the
      United  States  pursuant  to  article three of the retirement and social
      security law and at the rate of twelve percentum of that portion of  his
      city salary above said amount, out of monies which shall be appropriated
      to  the  city  university for such purposes. In the case of any electing
      employee initially appointed on or after July  first,  nineteen  hundred
      ninety-two,  the  city shall, during continuance of his employment, make
      contributions at the rate of eight percentum of his city  salary  during
      the  first  seven  years  of  such  employment  and  at  the rate of ten
      percentum of his city salary, thereafter, out of monies which  shall  be
      appropriated  to  the  city university for such purpose. For purposes of
      this subdivision, that portion  of  the  employee's  salary  upon  which
      contributions  are  or  may  thereafter  be paid to the secretary of the
      treasury  of  the  United  States  pursuant  to  article  three  of  the
      retirement and social security law shall be deemed not to exceed sixteen
      thousand five hundred dollars.
        2.  Employee  contributions. (a) In the case of any electing employee,
      contributions at the rate of three percentum of his city salary shall be
      deducted as the  employee  contribution  by  the  comptroller,  provided
      however  that  such  employee  contribution shall be made by the city in
      accordance with subdivision one of this section during  such  period  as
      either  section  seventy-a  of the retirement and social security law or
      section B3-36.1 or section B20-41.1 of the administrative  code  of  the
      city of New York provides that the contribution of any member of the New
      York  city  employees'  retirement system or the New York city teachers'
      retirement system in the employ of the city shall be reduced by at least
      eight percentum of his compensation; and provided further, however, that
      such employee contribution with respect to the fiscal year of  the  city
      beginning on July first, nineteen hundred seventy-two and ending on June
      thirtieth,  nineteen  hundred  seventy-three  shall be made by the city,
      notwithstanding any of the foregoing provisions of this  subdivision  to
      the contrary.
        (b) Notwithstanding any provision of paragraph (a) of this subdivision
      or  any  other  provision  of  law  to  the contrary, but subject to the
      provisions of subdivision d of  section  six  hundred  thirteen  of  the
      retirement  and social security law in the case of any electing employee
      initially appointed on or after July first, nineteen hundred ninety-two,
      contributions at the rate of three percentum of his or her  city  salary
      shall be deducted as the employee contribution by the comptroller.
        (c)  Notwithstanding  any other provision of this section or any other
      law to the contrary, (1) on and after April first,  two  thousand  eight
      for  a  member  who  joined  the optional retirement program established
      pursuant to this article and who has ten or more years of membership  in
      such optional retirement program, the city shall contribute one-third of
      the  three  percent  employee  contribution  required  pursuant  to  the
      provisions of this section on behalf of such employee; and  (2)  on  and
      after  April  first,  two  thousand  nine  for  a  member who joined the
      optional retirement program established pursuant to this article and who
      has ten or more years of membership in such optional retirement program,
      the city shall contribute  two-thirds  of  the  three  percent  employee
      contribution  required  pursuant  to  the  provisions of this section on
      behalf of such employee; and (3) on and after April first, two  thousand
      ten  for a member who joined the optional retirement program established
    
      pursuant to this article and who has ten or more years of membership  in
      such  optional  retirement  program, the city shall contribute the three
      percent employee contribution required pursuant  to  the  provisions  of
      this section on behalf of such employee.
        3.  Payment  of  contributions pursuant to subdivisions one and two of
      this section shall be made to the designated insurer  or  insurers  upon
      audit and warrant of the comptroller.
        4. In the case of an electing employee initially appointed on or after
      the effective date of the election to offer such programs established by
      the board, no contributions pursuant to subdivisions one and two of this
      section  shall  be  made by the city until his completion of one year of
      service and continuance in service thereafter.  Employee  contributions,
      if  any,  required during this initial year of service shall be deducted
      and held by the comptroller. At the end of his initial year of  service,
      a  single  contribution in an amount determined pursuant to subdivisions
      one and two of this section, with interest at the rate of four percentum
      per annum, shall be made, upon audit and warrant of the comptroller,  to
      the designated insurer or insurers, on behalf of such employee continued
      in service. In the case of an electing employee who does not continue in
      service with the board beyond his initial year of service, the amount of
      employee  contribution,  if  any,  deducted  from  his  salary  shall be
      refunded to him, with interest at the rate of four percentum per annum.
        5. The provisions of subdivision four of this section shall not  apply
      to any electing employee who, at the time of initial appointment, owns a
      contract  determined by the board to be similar to those contracts to be
      purchased under the  optional  retirement  program  and  issued  by  the
      designated insurer or insurers.