§ 532. Supplemental retirement allowance. a. A supplemental retirement
allowance shall be paid to pensioners who have retired from the
retirement system prior to the calendar year nineteen hundred
ninety-four. Such supplemental retirement allowance shall be payable on
the basis provided for herein, commencing with a payment for the month
of September, nineteen hundred ninety-nine and continuing through the
month of August, two thousand. Said supplemental retirement allowance
shall be a percentage of the retirement allowance otherwise payable,
computed without optional modification, but excluding any annuity
derived from voluntary contributions made by members, except those made
pursuant to elections under subdivision one of section five hundred
eleven-a or paragraph c of subdivision three of section five hundred
sixteen of this article. Said percentage, for each calendar year of
retirement, is set forth in subdivision b of this section. Said
supplemental retirement allowance shall be computed on the basis of the
first fourteen thousand dollars of such annual retirement allowance and
shall be payable commencing September first, nineteen hundred
ninety-nine to all disability pensioners and recipients of an accidental
death benefit, and to other pensioners who have attained age sixty-two
or who have been retired for ten or more years and have attained age
fifty-five.

b. 1. In calculating the supplemental retirement allowance in
accordance with subdivision a of this section, the following percentages
will be used for each calendar year of retirement, as appropriate:
Calendar year of retirement Percentage
1993 1.5
1992 1.5
1991 1.5
1990 1.5
1989 2.8
1988 3.7
1987 4.5
1986 5.5
1985 6.3
1984 7.4
1983 8.3
1982 10.5
1981 12.5
1980 15.6
1979 19.9
1978 25.4
1977 30.3
1976 37.8
1975 42.5
1974 54.0
1973 73.0
1972 86.0
1971 96.7
1970 105.0
1969 141.8
1968 169.0
1967 195.9
1966 203.7
1965 230.5
1964 254.5
1963 278.6
1962 310.0
1961 330.0
1960 340.0
1959 390.0
1958 427.3
1957 442.3

The supplemental retirement allowance shall be rounded off to the
nearest dollar.

1-a. For those pensioners retired from the retirement system prior to
the calendar year nineteen hundred fifty-seven the percentage referred
to in this section shall be determined by the ratio of two indexes, in
the following manner. The average of the twelve monthly consumer price
indexes of the calendar year nineteen hundred ninety-five divided by the
average of the twelve monthly consumer price indexes of the calendar
year of retirement shall be the ratio of the indexes. Said ratio, minus
one, shall be expressed as a percentage and shall be adjusted to the
lower one-tenth of one per centum. Such adjusted percentage shall be the
percentage of the retirement allowance, computed without optional
modification, which is payable as a supplement. Such percentage shall be
computed by the actuary and certified to the retirement board which
shall, by directive, promulgate a schedule of percentages by year of
retirement to be used for this purpose. The supplemental retirement
allowance shall be rounded off to the nearest dollar.

c. The benefits herein above provided for shall be in lieu of the
benefits presently provided by section five hundred ten and articles
four and six of the retirement and social security law, unless such
benefits are in excess of those provided by this section, in which
latter case such benefits shall be paid by the retirement system
pursuant to this section.

d. Notwithstanding any other provision of law, the widow or widower of
a deceased retired teacher, who had elected one of the options under
section five hundred thirteen of this article which provides that
benefits are to be continued for life to the widow or widower after the
death of the teacher, shall be entitled to receive a monthly
supplemental retirement allowance pursuant to this subdivision. Such
monthly supplemental retirement allowance shall commence (1) with the
payment for the month of September, nineteen hundred seventy-eight, or
(2) the month following commencement of widowhood or widowerhood,
whichever is later. The amount of the supplemental retirement allowance
provided by this subdivision shall be one-half of the amount which would
have been payable to the retiree as a supplemental retirement allowance,
had he or she survived.

e. 1. Each pensioner of the retirement system who retired before July
first, nineteen hundred eighty shall be paid, commencing with a payment
for the month of July two thousand twenty-one a basic supplemental
pension, the total of which when added to his or her yearly retirement
allowance computed without optional modification, but excluding any
annuity derived from contributions made by members pursuant to
paragraphs a and b of subdivision three of section five hundred sixteen,
section five hundred twenty-eight, section five hundred twenty-nine,
section five hundred thirty, section five hundred thirty-three and
section five hundred thirty-five of this article, shall equal the lesser
of nineteen thousand two hundred fifty dollars or the sum of five
hundred fifty dollars multiplied by the number of years of full-time New
York state service not to exceed thirty-five years with which he or she
was credited at the time of his or her retirement.

2. The benefits provided for pursuant to this subdivision shall be in
lieu of the benefits provided by articles four and six of the retirement
and social security law, subdivisions a, b and c of this section, and
subdivision f of section five hundred thirty-two-a of this article,
unless such a retired member would be eligible to receive a greater
benefit pursuant to any of such provisions, in which latter case this
subdivision shall not apply.

f. Contributions shall be made to the supplemental retirement
allowance fund by, or on account of, each employer at a rate computed by
the actuary and approved by the retirement board, which shall be
computed to be sufficient to provide the benefits established by this
section which are payable during the period of time that this section
shall be in effect. The retirement board may from time to time transfer
sufficient monies from the pension accumulation fund to the supplemental
retirement allowance fund to meet the obligations imposed by this
section. Such advances shall be restored to the pension accumulation
fund pursuant to paragraph a of subdivision two of section five hundred
twenty-one of this article.

g. 1. Commencing July first, nineteen hundred eighty-three, an
additional supplemental pension shall be paid to those pensioners who on
June thirtieth, nineteen hundred eighty-three were receiving
supplemental benefits computed pursuant to article four of the
retirement and social security law or computed pursuant to paragraph one
of subdivision e of this section as it read prior to amendment by
chapter four hundred seven of the laws of nineteen hundred
seventy-seven. Such additional supplemental pension shall equal ten
percent of the total of the supplemental pension paid to such pensioner
pursuant to article four of the retirement and social security law or
paragraph one of subdivision e of this section as it read prior to
amendment by chapter four hundred seven of the laws of nineteen hundred
seventy-seven, and the yearly retirement allowance computed without
optional modification, but excluding any annuity derived from voluntary
contributions made by members, pursuant to paragraphs a and b of
subdivision three of section five hundred sixteen, section five hundred
twenty-eight, section five hundred twenty-nine, section five hundred
thirty, section five hundred thirty-three and section five hundred
thirty-five of this article.

2. The benefits provided pursuant to paragraph one of this subdivision
shall be in lieu of the benefits provided by any other provision of law,
unless such a pensioner would be eligible to receive a greater benefit
pursuant to any such other provision, in which latter case this
subdivision shall not apply.