§ 1738. Retirement of employees. 1. Employees of the authority shall
be eligible to join the board of education retirement system as
established in section twenty-five hundred seventy-five of the education
law and pursuant to the usual rules of that system, provided that a new
employee who upon appointment by or transfer to the authority is a
member of the New York city employees retirement system may remain a
member of the New York city employees retirement system if, within
ninety days of the effective date of the transfer to or appointment by
the authority, the employee exercises an election to do so. Furthermore,
the retirement rights of employees of the city board employed on the
effective date of this title shall not be impaired by reason of the
enactment of this title into law.

2. a. Notwithstanding the provisions of any other general or local
law, administrative code or ordinance to the contrary, any employee of
the authority who was suspended on or after December first, two thousand
two because of economy measures taken by the authority, and who returned
to such service prior to January eighth, two thousand eight, shall be
deemed to have been in continuous service in determining length of
service for retirement purposes; provided, however, that for retirement
purposes, a member receiving such service credit shall pay the
additional member contributions prescribed by paragraph b of this
subdivision. Notwithstanding any other provision of law to the contrary,
a person who otherwise meets the requirements of this paragraph for
obtaining retirement service credit for such period of suspension, and
who, after returning to such service from such period of suspension,
retired for service or disability from a position with the authority
prior to the effective date of this subdivision, may obtain retirement
service credit for such period of suspension by (i) filing with the
retirement system an application to purchase such retirement service
credit within one hundred twenty days after the effective date of this
subdivision, and (ii) paying to the retirement system the amount
required by paragraph b of this subdivision within one year after the
effective date of this subdivision.

b. In addition to the regular member contributions that may be payable
for his or her current service, such member shall pay by deductions from
his or her compensation the following additional member contributions:

(i) all regular member contributions which such member would have been
required to pay to the retirement system for such period of suspension
if he or she had been in service during such period of suspension; and

(ii) if such member is a participant in a special plan, the additional
member contributions attributable to participation in such special plan
which he or she would have been required to pay to the retirement system
for such period of suspension if he or she had been in service during
such period of suspension; and

(iii) an amount equivalent to the additional costs to the employer of
providing retirement service credit to such member for such period of
suspension, as determined by the actuary for the retirement system.

c. The deductions for the additional member contributions referred to
in paragraph b of this subdivision shall be made in accordance with such
equitable method and over such equitable period of time as shall be
prescribed by the executive director of the member's retirement system
with the approval of the board of trustees.

d. The additional member contributions referred to in subparagraph (i)
of paragraph b of this subdivision shall be paid into the account
established by the retirement system for the deposit and accumulation of
such member's regular member contributions. The additional member
contributions referred to in subparagraph (ii) of paragraph b of this
subdivision shall be paid into the contingent reserve fund of such
retirement system and shall be subject to the provisions of law which
govern additional member contributions in the special plan in which such
member is a participant. The additional member contributions referred to
in subparagraph (iii) of paragraph b of this subdivision shall be paid
into the contingent reserve fund of such retirement system and shall not
be subject to any retirement system right or privilege of such member,
unless such right or privilege is granted by other provisions of law
which specifically refer to additional member contributions made
pursuant to subparagraph (iii) of paragraph b of this subdivision.

e. At any time prior to completion of the deductions for the
additional member contributions referred to in paragraph b of this
subdivision, payment of the remainder of the total of such additional
contributions required by such paragraph may be made in a lump sum.