Section 604-E. Twenty-five year retirement program for dispatcher members

a.  Definitions. The following words and phrases as used in this section
  shall have the following meanings unless a different meaning is  plainly
  required by the context.
    1.  "Dispatcher member" shall mean a member (as defined in subdivision
  e of section six hundred one of this article) who  is  employed  by  the
  city  of  New  York as a fire alarm dispatcher, a supervising fire alarm
  dispatcher, level one, a supervising fire alarm dispatcher,  level  two,
  director   of  dispatch  operations,  or  deputy  director  of  dispatch
  operations.
    2. "Twenty-five year retirement program" shall mean all the terms  and
  conditions of this section.
    3.  "Starting  date  of the twenty-five year retirement program" shall
  mean that date of enactment of this section.
    4. "Participant in the twenty-five year retirement program" shall mean
  any  dispatcher  member  who,  under  the   applicable   provisions   of
  subdivision  b  of this section, is entitled to the rights, benefits and
  privileges and is subject to the obligations  of  the  twenty-five  year
  retirement program, as applicable to him or her.
    5.  "Discontinued  member" shall mean a participant in the twenty-five
  year retirement program who, while he or she was  a  dispatcher  member,
  discontinued  service  as  such  a  member and has a right to a deferred
  vested benefit under subdivision d of this section.
    6. "Administrative code" shall mean the  administrative  code  of  the
  city of New York.
    7.  "Allowable  service as a dispatcher member" shall mean (i) service
  as a dispatcher member and all service in the  following  civil  service
  titles:   chief   fire   alarm  dispatcher,  administrative  fire  alarm
  dispatcher,  bus  operator  (transit),   train   dispatcher   (transit),
  firefighter, police officer, correction officer, fire marshal, probation
  officer,    police   communications   technician,   supervising   police
  communications technician, principal police  communications  technician,
  police administrative aide, senior police administrative aide, emergency
  medical  technician,  advanced  emergency  medical technician, emergency
  medical service specialist level I, emergency medical  specialist  level
  II,  fire  prevention  inspector, fire protection inspector, senior fire
  prevention inspector, principal  fire  prevention  inspector,  associate
  fire protection inspector, county detective, detective (NYPD), detective
  investigator,  senior  detective  investigator,  deputy  sheriff, senior
  deputy sheriff, inspector of fire alarm  boxes,  radio  operator,  radio
  repair  technician,  supervisor  of  radio  repair  operations, taxi and
  limousine inspector, senior taxi  and  limousine  inspector,  triborough
  bridge  and  tunnel  officer; and (ii) a member of the retirement system
  who is employed by the city of New York in a title whose duties  require
  the  supervision  of  employees whose civil service title is included in
  subparagraph (i) of this paragraph.
    b. Participation in twenty-five year retirement program. 1. Subject to
  the provisions of paragraphs six and  seven  of  this  subdivision,  any
  person  who  is  a  dispatcher  member  on  the  starting  date  of  the
  twenty-five year retirement program and who, as such a dispatcher member
  or otherwise, last became subject to  the  provisions  of  this  article
  prior  to  such  starting date, may elect to become a participant in the
  twenty-five year retirement program by filing, within one hundred eighty
  days after the starting date of the twenty-five year retirement program,
  a duly executed application for such participation with  the  retirement
  system  of  which  such person is a member, provided he or she is such a
  dispatcher member on the date such application is filed.

    2. Subject to the provisions of  paragraphs  six  and  seven  of  this
  subdivision,  any  person  who  becomes  a  dispatcher  member after the
  starting date of the twenty-five year retirement  program  and  who,  as
  such  a  dispatcher  member  or  otherwise,  last  became subject to the
  provisions  of  this  article  prior to such starting date, may elect to
  become a participant in  the  twenty-five  year  retirement  program  by
  filing,  within one hundred eighty days after becoming such a dispatcher
  member, a duly executed application  for  such  participation  with  the
  retirement  system for which such person is a member, provided he or she
  is such a dispatcher member on the date such application is filed.
    3. Each dispatcher member, other than a dispatcher member  subject  to
  paragraph  one  or  two  of this subdivision, who becomes subject to the
  provisions of this  article  on  or  after  the  starting  date  of  the
  twenty-five  year  retirement  program shall become a participant in the
  twenty-five year retirement program on the date he or she becomes such a
  dispatcher  member.  Provided,  however,  a  person  subject   to   this
  paragraph,  and  who  has  exceeded  age  thirty  upon  employment  as a
  dispatcher member, shall be exempt from participation  in  the  improved
  twenty-five  year  retirement  program  if  such  person  elects  not to
  participate by filing a duly executed form with  the  retirement  system
  within one hundred eighty days of becoming a dispatcher member.
    4. Any election to be a participant in the twenty-five year retirement
  program shall be irrevocable.
    5.  Where  any  participant in the twenty-five year retirement program
  shall cease to be employed by the city  of  New  York  as  a  dispatcher
  member,  he  or she shall cease to be such a participant and, during any
  period in which such person is not so employed, he or she shall not be a
  participant in the twenty-five year retirement program and shall not  be
  eligible for the benefits of subdivision c of this section.
    6.  Where  any  participant in the twenty-five year retirement program
  terminates service as a dispatcher member and returns to such service as
  a dispatcher member at a later date, he or she shall again become such a
  participant on that date.
    7. Notwithstanding any other provision of law  to  the  contrary,  any
  person  who  is  eligible  to  elect  to  become  a  participant  in the
  twenty-five year retirement program pursuant to paragraph one or two  of
  this subdivision for the full one hundred eighty day period provided for
  in  such  applicable  paragraph  and  who  fails  to  timely file a duly
  executed application for such participation with the retirement  system,
  shall  not  thereafter  be  eligible  to  become  a  participant in such
  program.
    c. Service retirement benefits. 1. A participant  in  the  twenty-five
  year retirement program:
    (i)  who  has completed twenty-five or more years of allowable service
  as a dispatcher member; and
    (ii) who has paid,  before  the  effective  date  of  retirement,  all
  additional  member  contributions  and  interest  (if  any)  required by
  subdivision e of this section; and
    (iii) who files with the retirement system of which he  or  she  is  a
  member an application for service retirement setting forth at what time,
  not  less  than  thirty  days  subsequent  to  the  execution and filing
  thereof, he or she desires to be retired; and
    (iv) who shall be a participant in  the  twenty-five  year  retirement
  program  at  the  time  so specified for his or her retirement; shall be
  retired pursuant to the  provisions  of  this  section  affording  early
  service retirement.
    2.  Notwithstanding  any  other  provision of law to the contrary, and
  subject to the provisions of paragraph six  of  subdivision  e  of  this

  section,  the  early  service retirement benefit for participants in the
  twenty-five year retirement program who retire pursuant to paragraph one
  of this subdivision shall be a retirement allowance consisting of:
    an amount, on account of the required minimum period of service, equal
  to fifty percent of his or her final average salary; plus
    an  amount  on account of allowable service as a dispatcher member, or
  fraction thereof, beyond such required minimum period of  service  equal
  to  two percent of his or her final salary for such allowable service as
  a dispatcher member during the period  from  completion  of  twenty-five
  years  of  allowable  service  as  a  dispatcher  member  to the date of
  retirement but not to exceed more than five years of additional  service
  as a dispatcher member.
    d.  Vesting.  1.  A  participant  in  the  twenty-five year retirement
  program:
    (i) who discontinues service as such  a  participant,  other  than  by
  death or retirement; and
    (ii)  who  prior  to such discontinuance, completed five but less than
  twenty-five years of allowable service as a dispatcher member; and
    (iii) who, subject to the provisions of paragraph seven of subdivision
  e  of  this  section,  has  paid,  prior  to  such  discontinuance,  all
  additional  member  contributions  and  interest  (if  any)  required by
  subdivision e of this section; and
    (iv) who does not withdraw in whole or in part his or her  accumulated
  member  contributions  pursuant  to section six hundred thirteen of this
  article unless such participant thereafter returns to public service and
  repays the amounts so withdrawn, together  with  interest,  pursuant  to
  such  section  six  hundred  thirteen;  shall  be  entitled to receive a
  deferred vested benefit as provided in this subdivision.
    2. (i) Upon such discontinuance under the conditions and in compliance
  with the provisions of paragraph one of this subdivision, such  deferred
  vested benefit shall vest automatically.
    (ii)  Such vested benefit shall become payable on the earliest date on
  which such discontinued member could have retired for  service  if  such
  discontinuance had not occurred.
    3.  Subject  to  the provisions of paragraph seven of subdivision e of
  this section,  such  deferred  vested  benefit  shall  be  a  retirement
  allowance  consisting  of  an  amount  equal  to  two  percent  of  such
  discontinued member's final average salary, multiplied by the number  of
  years of allowable service as a dispatcher member.
    e.  Additional  member  contributions.  1.  In  addition to the member
  contributions required by section six hundred thirteen of this  article,
  each  participant  in  the  twenty-five  year  retirement  program shall
  contribute to the retirement system of which  he  or  she  is  a  member
  (subject  to  the  applicable provisions of subdivision d of section six
  hundred thirteen of this article) an additional six percent  of  his  or
  her compensation earned from (i) all allowable service, as a participant
  in  the  twenty-five  year  retirement program, rendered on or after the
  starting date of the twenty-five year retirement program, and  (ii)  all
  allowable  service  after  such  person  ceases to be a participant, but
  before he or she again becomes a participant pursuant to  paragraph  six
  of  subdivision b of this section. The additional contributions required
  by this subdivision shall be in lieu of additional member  contributions
  required  by  subdivision  (d)  of  section  six  hundred four-c of this
  chapter as added by chapter ninety-six of the laws of  nineteen  hundred
  ninety-five,  and  no member making additional contributions pursuant to
  this section shall be required to make contributions  pursuant  to  such
  subdivision (d) of section six hundred four-c of this chapter.

    2.  A  participant  in  the  twenty-five year retirement program shall
  contribute additional member contributions until the later  of  (i)  the
  first   anniversary  of  the  starting  date  of  the  twenty-five  year
  retirement program, or (ii) the date on which he or she completes thirty
  years of allowable service as a dispatcher member.
    3.  Commencing  with  the  first full payroll period after each person
  becomes a  participant  in  the  twenty-five  year  retirement  program,
  additional  member  contributions at the rate specified in paragraph one
  of this  subdivision  shall  be  deducted  (subject  to  the  applicable
  provisions  of  subdivision  d  of  section six hundred thirteen of this
  article) from the compensation of such participant  on  each  and  every
  payroll  of such participant for each and every payroll period for which
  he or she is such a participant.
    4. (i) Each participant in the  twenty-five  year  retirement  program
  shall  be charged with a contribution deficiency consisting of the total
  amounts of additional member contributions such person  is  required  to
  make  pursuant  to  paragraphs one and two of this subdivision which are
  not deducted from his or her compensation pursuant to paragraph three of
  this subdivision, if any, together  with  interest  thereon,  compounded
  annually,   and   computed   in   accordance   with  the  provisions  of
  subparagraphs (ii) and (iii) of this paragraph.
    (ii) (A) The  interest  required  to  be  paid  on  each  such  amount
  specified  in  subparagraph  (i) of this paragraph shall accrue from the
  end of the payroll period for which such amount would have been deducted
  from compensation if he or she had been a participant at  the  beginning
  of  that  payroll  period  and such deduction had been required for such
  payroll period, until such amount is paid to the retirement system.
    (B) The rate of interest to be applied to each such amount during  the
  period  for  which interest accrues on that amount shall be equal to the
  rate or rates of interest required by law to be used  during  that  same
  period  to  credit  interest on the accumulated deductions of retirement
  system members.
    (iii)  Except  as  otherwise  provided  in  paragraph  five  of   this
  subdivision,  no  interest  shall be due on any unpaid additional member
  contributions which are not attributable to a period prior to the  first
  full payroll period referred to in paragraph three of this subdivision.
    5.  (i)  Should  any  person  who,  pursuant  to  subparagraph (ii) of
  paragraph ten of this subdivision, has received a refund of his  or  her
  additional  member  contribution  including  any  interest  paid on such
  contributions, again  become  a  participant  in  the  twenty-five  year
  retirement  program  pursuant  to paragraph six of subdivision b of this
  section, an appropriate amount shall be included in  such  participant's
  contribution   deficiency  (including  interest  thereon  as  calculated
  pursuant to subparagraph  (ii)  of  this  paragraph)  for  any  credited
  service  for  which  such  person  received  a refund of such additional
  member contributions (including any amount of  an  unpaid  loan  balance
  deemed to have been returned to such person pursuant to paragraph twelve
  of  this  subdivision), as if such additional member contributions never
  had been paid.
    (ii) (A) Interest on a participant's additional  member  contributions
  included  in  such  participant's  contribution  deficiency  pursuant to
  subparagraph (i) of this  paragraph  shall  be  calculated  as  if  such
  additional member contributions had never been paid by such participant,
  and  such  interest  shall  accrue from the end of the payroll period to
  which an amount of such additional member contributions is attributable,
  until such amount is paid to the retirement system.

    (B) The rate of interest to be applied to each such amount during  the
  period  for  which interest accrues on that amount shall be five percent
  per annum, compounded annually.
    6.   Where  a  participant  who  is  otherwise  eligible  for  service
  retirement pursuant to subdivision c of this section did not,  prior  to
  the   effective   date  of  retirement,  pay  the  entire  amount  of  a
  contribution deficiency chargeable to him or her pursuant to  paragraphs
  four  and five of this subdivision, or repay the entire amount of a loan
  of his or her additional  member  contributions  pursuant  to  paragraph
  eleven  of  this  subdivision (including accrued interest on such loan),
  that participant, nevertheless, shall be eligible to retire pursuant  to
  subdivision   c   of   this   section,   provided,  however,  that  such
  participant's  service  retirement  benefit   calculated   pursuant   to
  paragraph  two  of such subdivision c shall be reduced by a life annuity
  (calculated in accordance with the method set forth in subdivision i  of
  section  six  hundred  thirteen-b  of this article) which is actuarially
  equivalent to:
    (i) The amount of any unpaid  contribution  deficiency  chargeable  to
  such  member  pursuant  to paragraphs four and five of this subdivision;
  plus
    (ii) the amount of any  unpaid  balance  of  a  loan  of  his  or  her
  additional  member  contributions  pursuant  to paragraph eleven of this
  subdivision (including accrued interest on such loan).
    7. Where a participant who is otherwise eligible for a vested right to
  a deferred benefit pursuant to subdivision d of this  section  did  not,
  prior to the date of discontinuance of service, pay the entire amount of
  a   contribution  deficiency  chargeable  to  him  or  her  pursuant  to
  paragraphs four and five of this subdivision, or repay the entire amount
  of a loan of his or her  additional  member  contributions  pursuant  to
  paragraph eleven of this subdivision (including accrued interest on such
  loan),  that  participant,  nevertheless, shall be eligible for a vested
  right to a deferred benefit pursuant to subdivision d of  this  section,
  provided,  however, that the deferred vested benefit calculated pursuant
  to paragraph three of such subdivision d shall  be  reduced  by  a  life
  annuity   (calculated  in  accordance  with  the  method  set  forth  in
  subdivision i of section six hundred thirteen-b of this  article)  which
  is actuarially equivalent to:
    (i)  the  amount  of  any unpaid contribution deficiency chargeable to
  such member pursuant to paragraphs four and five  of  this  subdivision;
  plus
    (ii)  the  amount  of  any  unpaid  balance  of  a  loan of his or her
  additional member contributions pursuant to  paragraph  eleven  of  this
  subdivision (including accrued interest on such loan).
    8.  The head of a retirement system which includes participants in the
  twenty-five year retirement program in its  membership  may,  consistent
  with  the provisions of this subdivision, promulgate regulations for the
  payment of  such  additional  member  contributions,  and  any  interest
  thereon,   by   such  participants  (including  the  deduction  of  such
  contributions,  and  any  interest  thereon,  from   the   participant's
  compensation).
    9.  Subject  to  the  provisions  of  paragraphs six and seven of this
  subdivision, where a participant has not paid in full  any  contribution
  deficiency chargeable to him or her pursuant to paragraphs four and five
  of  this  subdivision,  and  a  benefit,  other  than a refund of member
  contributions pursuant to section six hundred thirteen of  this  article
  or  a refund of additional member contributions pursuant to subparagraph
  (ii) of paragraph ten of this subdivision, becomes  payable  under  this
  article  to  the  participant or to his or her designated beneficiary or

  estate, the actuarial equivalent of any  such  unpaid  amount  shall  be
  deducted from the benefit otherwise payable.
    10.  (i)  Such  additional  member  contributions  (and  any  interest
  thereon)  shall  be  paid  into  the  contingent  reserve  fund  of  the
  retirement system of which the participant is a member and shall not for
  any  purpose  be  deemed  to  be  member  contributions  or  accumulated
  contributions of a member under section six  hundred  thirteen  of  this
  article or otherwise while he or she is a participant in the twenty-five
  year retirement program or otherwise.
    (ii)  Should  a participant in the twenty-five year retirement program
  who has rendered less than fifteen years of credited  service  cease  to
  hold a position as a dispatcher member for any reason whatsoever, his or
  her  accumulated  additional  member contributions made pursuant to this
  subdivision (together with any interest thereon paid to  the  retirement
  system)   may  be  withdrawn  by  him  or  her  pursuant  to  procedures
  promulgated in regulations of the board of trustees  of  the  retirement
  system,  together  with interest thereon at the rate of five percent per
  annum, compounded annually.
    (iii) Notwithstanding any other provision of law to the contrary,  (A)
  no  person shall be permitted to withdraw from the retirement system any
  additional member contributions paid pursuant to this subdivision or any
  interest paid thereon, except pursuant to and  in  accordance  with  the
  preceding  subparagraphs  of this paragraph; and (B) no person, while he
  or she is a participant in  the  twenty-five  year  retirement  program,
  shall  be permitted to withdraw any such additional member contributions
  or  any  interest  paid  thereon  pursuant  to  any  of  the   preceding
  subparagraphs of this paragraph or otherwise.
    11.  A participant in the twenty-five year retirement program shall be
  permitted to borrow from his  or  her  additional  member  contributions
  (including  any  interest  paid  thereon)  which  are  credited  to  the
  additional contributions account established for such participant in the
  contingent reserve fund of the retirement  system.  The  borrowing  from
  such additional member contributions pursuant to this paragraph shall be
  governed by the rights, privileges, obligations and procedures set forth
  in  section  six  hundred  thirteen-b  of  this article which govern the
  borrowing of member contributions made pursuant to section  six  hundred
  thirteen of this article. The board of trustees of the retirement system
  may,  consistent  with  the  provisions  of  this  subdivision  and  the
  provisions of section six hundred thirteen-b of  this  article  as  made
  applicable  to  this  subdivision,  promulgate regulations governing the
  borrowing of such additional member contributions.
    12. Whenever a person has an unpaid balance of a loan of  his  or  her
  additional  member  contributions  pursuant  to paragraph eleven of this
  subdivision at the time he or she becomes entitled to a refund of his or
  her additional member contributions pursuant  to  subparagraph  (ii)  of
  paragraph  ten  of  this  subdivision,  the  amount  of such unpaid loan
  balance (including accrued  interest)  shall  be  deemed  to  have  been
  returned to such member, and the refund of such additional contributions
  shall  be  the  net amount of such contributions, together with interest
  thereon in accordance with the provisions of such subparagraph (ii).
    * NB Expires June 30, 2011
    * NB There are 2 § 604-e's