Article 3 - None

Section 13-662

Section 13-662

  §  13-662  Definitions.  As  used  in  this  article: The term "police
retired employee" shall mean any person who was retired for  service  on
or  after  June  fifth,  nineteen  hundred sixty and prior to May first,
nineteen  hundred  sixty-three  and  receives,  as  a  result  of   such
retirement,  a  retirement  allowance  or  pension  from a retirement or
pension system or plan of the city for members of the uniformed force of
the police department.

Section 13-663

Section 13-663

  §   13-663  Supplemental  retirement  allowances.  a.  Police  retired
employees. Notwithstanding  any  other  provision  of  law,  any  police
retired  employee shall be entitled to a supplemental pension payment to
be known as a supplemental retirement  allowance  payable  annually,  in
monthly  installments  in  an  amount  which,  together  with pension or
retirement allowance (exclusive  of  extra  service  increments  granted
pursuant  to section 13-208 of this title or any other similar provision
of law), received by such police retired employee,  shall  be  equal  to
one-half  of his or her annual compensation earned at the date of his or
her retirement.
  b. For the purpose  only  of  determining  the  amount  of  additional
pension  contribution  by  the city that may be required to provide said
person with a retirement allowance equal  to  one-half  of  his  or  her
annual  compensation  earned  on  the date of his or her retirement, the
person's annuity shall be computed as it would have been,
  (A) If it  were  not  reduced  by  the  actuarial  equivalent  of  any
outstanding loan.
  (B)  If  it  were  not  increased  by  the actuarial equivalent of any
additional contributions.
  (C) If it were not reduced by  reason  of  the  member's  election  to
decrease  his  or her annuity contributions in order to apply the amount
of such reduction in payment of his or her contributions for old-age and
survivors insurance coverage.
  (D) As it would be without any optional modification.
  c. The supplemental retirement allowances provided for in this article
shall not be paid to any police retired employee for any  period  during
which  the  pension  or  retirement  allowances  of  such police retired
employee, or any part thereof is forfeited or suspended pursuant to law.

Section 13-664

Section 13-664

  §  13-664  Payment of supplemental retirement allowances. On or before
the last day of each month, there shall be paid to each  police  retired
employee,  from  the supplemental pension fund, the monthly supplemental
retirement allowance payment to which he or she may  be  entitled  under
the provisions of this article provided.

Section 13-665

Section 13-665

  §   13-665   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 retirement allowance
payments to police retired employees.

Section 13-666

Section 13-666

  §   13-666  Information  to  be  furnished  to  the  comptroller.  The
comptroller shall have authority to require any department or agency  of
the  city to furnish such records, information and data as he or she may
need to carry out the provisions of this article.

Section 13-667

Section 13-667

  §  13-667  Supplemental  pension  fund.  As  used in this article, the
supplemental pension fund is the special fund  as  provided  by  section
13-650 of this chapter.

Section 13-668

Section 13-668

  §  13-668  Reimbursement of supplemental pension fund by the city. The
comptroller shall include with his  or  her  budget  estimate  for  each
fiscal  year  amounts  estimated  by  him  or  her  to  be sufficient to
reimburse the supplemental  pension  fund  for  the  cost  of  providing
supplemental  retirement  allowance  payments  during the current fiscal
year to all police retired employees.

Section 13-669

Section 13-669

  § 13-669 Restrictions on use of retirement or 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.

Section 13-670

Section 13-670

  §  13-670  Limitations  on  obligations.  The  supplemental retirement
allowances provided  pursuant  to  this  article  shall  not  constitute
membership  in a pension or retirement system, nor shall the granting of
such allowances create a contractual relationship between the  city  and
any  police retired employee. The payments authorized under this article
shall not be retroactive.