Section 375-B. Non-contributory retirement plan for members of participating employers

a.  Notwithstanding  any  other  provision  of  law to the
  contrary, no further contributions to the retirement system as  provided
  in  subdivision  b  of section three hundred twenty-one of this chapter,
  shall be required of any member in the employ of  such  a  participating
  employer  electing  to  participate  pursuant  to the provisions of this
  section; provided, however, in the  case  of  persons  who  last  became
  members  on  or  after  July first, nineteen hundred seventy-three, such
  required contributions shall be waived only  until  the  payroll  period
  immediately  prior  to  that  the  first day of which is nearest to July
  first, nineteen hundred seventy-four.
    b. 1. By the adoption,  filing  and  approval,  where  required  of  a
  resolution  in  the  manner provided by sections three hundred thirty or
  three hundred thirty-one  of  this  chapter,  as  the  case  may  be,  a
  participating  employer who had previously elected to make contributions
  under  the  provisions  of  subdivision  aa  of  section  three  hundred
  seventy-a  of  this  chapter,  may  elect  to  make contributions to the
  pension   accumulation   fund   for   the   purpose   of   providing   a
  non-contributory retirement plan pursuant to this section.
    2.  By  the  adoption,  filing  and  approval,  where  required,  of a
  resolution in the manner provided by sections three  hundred  thirty  or
  three  hundred  thirty-one  of  this  chapter,  as  the  case  may be, a
  participating employer who had  not  previously  elected  to  contribute
  under  the  provisions  of  subdivision  aa  of  section  three  hundred
  seventy-a of this chapter,  may  elect  to  make  contributions  to  the
  pension   accumulation   fund   for   the   purpose   of   providing   a
  non-contributory  retirement  plan  pursuant  to  this   section.   Such
  resolution shall specify the first payroll period after the date of such
  filing  for  which no further contributions shall be required of members
  in its employ.
    c. Contributions shall be made to the pension accumulation fund by  or
  on account of each participating employer, as provided in sections three
  hundred  sixteen, three hundred seventeen and three hundred forty-two of
  this chapter, at a rate fixed by the actuary which shall be computed  to
  be  sufficient  to  provide  the  benefits  established by section three
  hundred seventy-five-c of this chapter on  account  of  members  in  the
  employ of such participating employers.
    d.  Nothing  contained  in  this  section  shall  impair  the right of
  persons, who became members before August nineteenth,  nineteen  hundred
  sixty-six,  to  make  contributions pursuant to subdivision i of section
  three hundred twenty-one of this chapter.
    e. Any member who has elected to  contribute  at  a  certain  rate  of
  contribution  in  accordance  with  the  provisions  of subdivision j of
  section three hundred twenty-one of  this  chapter,  shall  continue  to
  contribute  at  such  rate  until his election under said subdivision is
  withdrawn.
    f. Any member  in  service  on  August  nineteenth,  nineteen  hundred
  sixty-six,  may  by  written notice duly acknowledged and filed with the
  comptroller  on  or   before   August   eighteenth,   nineteen   hundred
  sixty-seven,  elect  to  contribute  to  the  retirement system. Where a
  member makes an election to contribute, as herein provided for, he shall
  contribute to the  retirement  system  as  otherwise  provided  in  this
  chapter.  One year or more after the filing of the notice of election to
  contribute, the member may withdraw  such  election  and  elect  not  to
  contribute.