Section 385-A. Retirement of members of the Nassau county police force; new plan

a. As used in this section, the following words and phrases shall
  have the following  meanings  unless  a  different  meaning  is  plainly
  required by the context:
    1. "County." Nassau county.
    2.  "Police  force."  The term "police force" shall include only those
  members of the police department who are appointed as  police  officers.
  Such  term,  however,  shall  also  include every employee of the police
  department who entered such service prior  to  January  first,  nineteen
  hundred  forty-eight  and  who  has been contributing since that date in
  accordance with the provisions of section three hundred  eighty-five  of
  this article.
    3. "Creditable service." Full time duty as an officer or member of the
  police  force  or  full  time police duty as an officer or member of the
  police force of any town,  village,  city  or  police  district  in  the
  county,  in  the  office  of  the  sheriff  of the county prior to April
  sixteenth, nineteen hundred twenty-five, as sheriff of the county  prior
  to  December thirty-first, nineteen hundred sixty-five, as a Long Island
  state park patrolman, or in the division of state police  in  the  state
  executive department.
    b.  Every  member  of the police force, including the commissioner who
  entered or re-entered service on the police force on and  after  January
  first,  nineteen  hundred  sixty-six and members entering or re-entering
  service on the police force on and after April first,  nineteen  hundred
  sixty-seven,   and   prior   to   September   first,   nineteen  hundred
  seventy-eight, shall contribute  on  the  basis  provided  for  by  this
  section.
    c.  Any  member  of  the  police force who elected to contribute under
  former section eighty-five-a of this chapter  shall  contribute  on  the
  basis provided for by this section.
    d.  A  member  of  the  police  force  who  elects  or  is required to
  contribute in accordance with this section, shall contribute, in lieu of
  the proportion of compensation as provided in section twenty-one of this
  article, a proportion of his  compensation  similarly  determined.  Such
  latter  proportion shall be the same as that which was or which would be
  computed under subdivision e of section  eighty-five  of  this  article,
  notwithstanding   the  fact  that  such  member  will  be  eligible  for
  retirement after twenty years of creditable service. In no event shall a
  member contribute under this section at a higher rate  than  he  was  or
  would   be  required  to  contribute  under  subdivision  e  of  section
  eighty-five of this article had this section not been enacted.
    Such member's rate of contribution pursuant to this section  shall  be
  appropriately  reduced pursuant to section seventy-a of this article for
  such period of time as his employer contributes pursuant to such section
  toward pensions-providing-for-increased-take-home-pay provided, however,
  that such member may by written notice duly acknowledged and filed  with
  the comptroller, make an election to waive such reduction as provided by
  subdivision  j  of  section twenty-one of this article. One year or more
  after the filing thereof, a member may withdraw  any  such  election  by
  written notice duly acknowledged and filed with the comptroller.
    e.  No member of the police force shall continue to make contributions
  after completing twenty years of creditable service.
    f. A member of the police force, contributing on  the  basis  of  this
  section shall be entitled to retire after the completion of twenty years
  of  creditable  service,  or on the first day of the month following the
  attainment of the mandatory retirement age,  by  filing  an  application
  therefor in a manner similar to that provided in section seventy of this
  article.

    (1)  Upon  completion  of  twenty  years  of  such  service  and  upon
  retirement, each such member shall receive  a  pension  which,  together
  with  an  annuity  which  shall  be  the  actuarial  equivalent  of  his
  accumulated  contributions  at  the  time  of  his  retirement  and   an
  additional   pension   which   is   the   actuarial  equivalent  of  the
  reserve-for-increased-take-home-pay to which he  may  then  be  entitled
  shall  be sufficient to provide him with a retirement allowance equal to
  one-half of his final average salary.
    (2)  Upon  attainment  of  the  mandatory  retirement  age  and   upon
  retirement without completion of twenty years of such service, each such
  member  shall  receive  a  pension  which together with an annuity which
  shall be the actuarial equivalent of his  accumulated  contributions  at
  the  time  of  his  retirement  and  an  additional pension which is the
  actuarial equivalent of the reserve-for-increased-take-home-pay to which
  he may then be entitled, shall be  sufficient  to  provide  him  with  a
  retirement  allowance  equal to one-fortieth of his final average salary
  for each year of creditable service.
    Only for the purpose of determining the amount of the pension provided
  in this subdivision, the annuity shall be computed as it would be if  it
  were  not  reduced  by the actuarial equivalent of any outstanding loan,
  and if it  were  not  increased  by  the  actuarial  equivalent  of  any
  additional  contributions  or  contributions  pursuant  to  waiver under
  subdivision j of section twenty-one of this article, and if it were  not
  reduced  by  reason  of  the  members  election  to decrease his annuity
  contributions to the retirement system in order to apply the  amount  of
  such reduction in payment of his contributions for old-age and survivors
  insurance coverage.
    g.  The  increased  pensions  to members of the police force, together
  with  all  other  expenses  of  this  retirement  plan   exceeding   the
  contribution required to be made by members pursuant to subdivision d of
  this  section,  shall  be  paid from contributions made by the county on
  account of such members. The actuary  of  the  retirement  system  shall
  compute  the  additional  contribution  for each member who participates
  under this section.  Such additional contributions shall be computed  on
  the basis of contributions during the prospective service of such member
  which  will  cover the liability of the retirement system for such extra
  pensions.  Upon   approval   by   the   comptroller,   such   additional
  contributions  shall  be certified by him to the county executive of the
  county.    The  amount  thereof  shall  be  included   in   the   annual
  appropriation  of  the  county for the Nassau county police. Such amount
  shall be paid on the warrant of the county comptroller  to  the  pension
  accumulation fund of the retirement system.
    h.  Every member of the police force except the commissioner of police
  contributing under this section shall leave the service on the last  day
  of the calendar month in which he attains age fifty-nine, which shall be
  his  mandatory retirement age. The commissioner after age fifty-nine and
  before age seventy may elect to retire and if he does so the date of his
  retirement shall for the purpose of this section be deemed his mandatory
  retirement age.
    i. The provisions of this section shall be controlling notwithstanding
  any provision in this article to the contrary.