N.Y. Retirement and Social Security Law 384-C – Additional pension benefits for certain police officers after twenty-five years of service
§ 384-c. Additional pension benefits for certain police officers after twenty-five years of service. a. In the event a member of the police force of the city of Glen Cove, in the county of Nassau, who is contributing to the retirement system, shall continue in service after twenty-five years of total creditable police service under such section in such force, he or she shall receive, upon retirement, in addition to the amount of any retirement allowance he or she would otherwise be entitled to receive, pursuant to the applicable provisions of this chapter, an additional pension for such service of one-sixtieth of his or her final average salary for each completed additional year of service after twenty-five years. The participating employer in the case of any police officer eligible for the additional pension benefit prescribed by this section shall make additional contributions to the appropriate fund of the retirement system necessary to pay the difference between the amounts prescribed by this section and the amount the member would otherwise be entitled to receive at the time of his or her retirement.
Terms Used In N.Y. Retirement and Social Security Law 384-C
- Final Average Salary: shall mean the regular compensation earned from such participating employer by a member during the twelve months of actual service immediately preceding the date of such employee's retirement, exclusive of any lump sum payments for sick leave, or accumulated vacation credit, or any form of termination pay; provided, however, if the compensation earned in said twelve months exceeds that of the previous twelve months by more than twenty per centum, the amount in excess of twenty per centum shall be excluded in the computation of final average salary; provided further, however, that the benefits computed pursuant to this paragraph shall be payable unless the member would otherwise be entitled to a greater benefit under other provisions of this subdivision, in which case such greater benefit shall be payable. See N.Y. Retirement and Social Security Law 302
b. The service in the police force of any member of such force, to be eligible for the additional pension credit under this section shall be terminated and he shall be retired on or before the first day of the calendar month next succeeding his attainment of age sixty-two provided, however, that in the case of the chief of such force who has attained the age of sixty-two on or before September first, nineteen hundred sixty-six, to be eligible for additional pension credit under this section, his service shall be terminated and he shall be retired on or before August thirty-first, nineteen hundred seventy.
Notwithstanding the foregoing, during the period terminating August thirty-first, nineteen hundred seventy, such chief shall be retired on the first day of the calendar month next succeeding his attainment of age seventy; provided that service rendered by such chief after attaining age sixty-five shall not be used to provide additional benefits, except that the salary paid for such service may be used in the computation of benefits.
c. The provisions of subdivisions f, g and h of section eighty-four of this chapter shall not be applicable to the city of Glen Cove in the county of Nassau.