§ 30. Participation by municipalities. a. A municipality may elect to
participate in the retirement system. Such election shall be exercised
by the adoption of a resolution approved by its local legislative body
and any other body or officer required by law to approve resolution of
such local legislative body. Upon the filing of a certified copy of such
resolution with the comptroller, such election shall be irrevocable, and
the municipality shall become a participating employer, subject,
however, to the conditions provided in this subdivision.

1. A municipality not participating in the retirement system prior to
October first, nineteen hundred fifty-three, and which has not provided
old-age and survivors insurance coverage for its employees, may, at the
time of making election to participate, exclude from eligibility for
membership in the retirement system such class or classes of offices and
positions for which membership in the retirement system is not made
mandatory by this article, as the municipality may specify in such
resolution. Participation by any such municipality which may exclude
from eligibility for membership any class or classes of its offices or
positions shall not become effective until such municipality shall have
entered into an agreement to provide old-age and survivors insurance
coverage for such class or classes of offices or positions in the manner
and to the extent provided by article three of this chapter.

2. Any municipality participating in the retirement system prior to
October first, nineteen hundred fifty-three, may, by the adoption of a
resolution in the manner herein provided and filed with the comptroller
prior to the time such municipality makes an agreement to provide
old-age and survivors insurance coverage for its employees, elect to
exclude from eligibility for membership in the retirement system any
class or classes of offices or positions for which membership in the
retirement system is not made mandatory by this article. Public notice
of the proposed adoption of any such resolution shall be given at least
three months prior to the adoption thereof. Officers and employees
holding offices or positions in any such excluded class or classes,
however, who are members of the retirement system at the time of the
filing of such resolution shall continue to be members of the retirement
system. Such resolution providing for such exclusion from eligibility
for membership shall not become effective, however, until such
participating municipality shall have entered into an agreement to
provide old-age and survivors insurance coverage for the class or
classes of offices or positions so excluded from eligibility for
membership in the retirement system in the manner and to the extent
provided by article three of this chapter.

3. The power to exclude employees from eligibility for membership in
the retirement system pursuant to paragraph one or paragraph two of this
subdivision a shall terminate on the day after the modification
extending the old-age and survivors insurance system to any position
covered by such system and held by an employee of a political
subdivision of the state (exclusive of one in a police officer's or
firefighter's position) is executed.

b. Participation by members of local pension systems.

1. In the event that sixty per centum of the members of any local
pension system petition to become members of this retirement system,
their participation may be approved in the manner provided by
subdivision a of this section.

2. As of the date such participation is approved:

(a) The operation of such local pension system shall be discontinued.

(b) The existing pensioners and annuitants of such local pension
system shall be continued and paid at their existing rates by this
retirement system.

(c) Any cash and securities to the credit of such local pension system
shall be transferred to this retirement system.

(d) The trustees or other administrative head of such local pension
system shall certify the proportion, if any, of the funds of such system
that represents the accumulated contributions of the members and the
individual shares of the members therein. Such shares shall be credited
to the respective annuity savings accounts of such members in this
retirement system. The balance of the funds so transferred to this
retirement system shall be offset against the liability on account of
existing pensioners, annuitants and active members. The resulting
liability so determined shall be the basis for the rate of deficiency
contribution of such county, city, town or village as determined
pursuant to section twenty-three of this article.

c. Participation by a municipality pursuant to this section shall
cover all agencies of the government of such municipality including the
free public library, if any, of such municipality, unless separate
participation by any such agency or school district public library has
been approved pursuant to section thirty-one, thirty-one-a or thirty-two
of this article.