NYC Laws & Codes
Article 1 - None¶
Section 13-644¶
Section 13-644
§ 13-644 Definitions. As used in this subchapter:
1. The term "city retired employee" shall mean a person who was
retired prior to July first, nineteen hundred sixty and who receives, as
a result of such retirement, a retirement allowance or pension from any
retirement or pension system or plan of the city of New York, which
retirement allowance or pension, computed without optional modification,
is or would be twelve hundred dollars per annum or less, and who, unless
retired for disability:
(a) is sixty years of age or over and
(b) has not had less than fifteen years of allowable and credited
service on which his or her retirement allowance or pension is based,
(c) provided, however, that
(1) in the case of such a person meeting such requirements who
attained age sixty-five before April first, nineteen hundred fifty-six,
or who attains such age on or after such date, the maximum retirement
allowance or pension, computed without optional modification, shall for
the purposes hereof be thirteen hundred two dollars per annum beginning
April first, nineteen hundred fifty-six or the first of the month
following the date such person attains the age of sixty-five years;
(2) in the case of a female person meeting such requirements who
attained age sixty-two before April first, nineteen hundred fifty-seven,
or who attains such age on or after such date, the maximum retirement
allowance or pension, computed without optional modification, shall for
the purposes hereof be thirteen hundred two dollars per annum beginning
April first, nineteen hundred fifty-seven or the first of the month
following the date such person attains the age of sixty-two years;
(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, the maximum retirement allowance or pension, computed without
optional modification, shall for the purposes hereof be thirteen hundred
two dollars per annum beginning April first, nineteen hundred
fifty-seven or the first of the month following the date such person
attains the age of fifty years.
Section 13-645¶
Section 13-645
§ 13-645 Retired employees eligible for supplemental pensions. City
retired employees of the city of New York or any of its agencies shall
be entitled to receive, one month after such retirement, monthly
supplemental pension payment as provided in this article.
Section 13-646¶
Section 13-646
§ 13-646 Computation of supplemental pensions. 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.
Section 13-647¶
Section 13-647
§ 13-647 Payment of supplemental pensions. On or before the last day
of each month, there shall be paid to each city retired employee, from
the supplemental pension fund, the monthly supplemental pension payment
to which he or she may be entitled under the provisions of this article.
Section 13-648¶
Section 13-648
§ 13-648 Rules and regulations. The board of estimate on
recommendation of the comptroller shall prescribe such rules and
regulations as may be required for the effective administration of the
provisions of this article relating to supplemental pension payments to
city retired employees.
Section 13-649¶
Section 13-649
§ 13-649 Information to be furnished to comptroller. The comptroller
may require any agency of the city to furnish him or her with such
records, information and data as he or she may need to carry out the
provisions of this article.
Section 13-650¶
Section 13-650
§ 13-650 City supplemental pension fund. 1. There is hereby
established a special fund to be known as the city supplemental pension
fund. Such fund shall consist of such monies as may be appropriated
thereto by the city and all other monies received for such fund from any
other source pursuant to law.
2. The city supplemental pension fund shall be under the jurisdiction
and control of the comptroller, who shall be the custodian thereof. He
or she shall submit annually reports to the board of estimate or more
often, if requested by the board. The fund shall be held separate and
apart from any other funds or monies of the city and shall be used
exclusively for the purpose of making city supplemental pension or
supplemental retirement allowance payments as provided in this
subchapter. The comptroller shall have power to invest and keep invested
monies in the fund within the limits prescribed for investment under the
state insurance law. Monies of the fund shall be paid out only after
audit by and on warrant of the comptroller.
Section 13-651¶
Section 13-651
§ 13-651 Restriction on use of retirement and pension funds. No monies
belonging to any retirement or pension system or plan shall be
appropriated or used for any purpose, or for any payment authorized or
required by this article.