§ 32. Participation by certain New York city libraries. a. The boards
of trustees of The New York Public Library, Astor, Lenox and Tilden
Foundations, The Brooklyn Public Library and The Queens Borough Public
Library, which organizations employ persons engaged in service to the
public, by resolution legally adopted and approved by the comptroller,
may elect to have their employees become eligible to participate in the
retirement system. When such election is made by the board of trustees
of any such library in pursuance of an agreement or plan concluded
between it and the city of New York, for such of its employees whose
salaries and compensation are paid from appropriations to such library
by the city of New York in its budget, then such board of trustees shall
also elect by separate resolution to have such of its employees, whose
salaries and compensation for services are paid out of its own corporate
funds, become eligible to participate in the retirement system.

b. Acceptance of the employees of such an employer for membership in
the retirement system shall be optional with the comptroller. If he
shall approve their participation, then such organization shall be
treated as if it were a municipality that has approved the participation
of its employees in the retirement system as provided in section thirty
of this article. The comptroller shall determine the amounts of
contribution payable by such libraries and their employees, and, in all
other respects in so far as this article covering such a municipality is
applicable, shall similarly treat all such employees.

c. When, as a condition of a contract or plan concluded with any one
of such libraries, a number of whose employees are being paid from
salaries and compensation for services out of appropriations as
aforesaid, the city of New York obligates itself in any manner to pay or
cause to be paid deficiency and normal contributions on account of such
employees to the extent of, and not in excess of, a certain specified
rate based on a fixed percentage of the payroll appropriated, then the
comptroller shall have power to accept the participation of all the
employees of such organization on the same terms and subject to the same
limitations as provided for under both aforesaid resolutions. Such
employees shall in all other respects participate in the retirement
system as provided in section thirty-one of this article.

d. Should there be a default in paying or causing to be paid pursuant
to any contract or agreement with such employer the deficiency and
normal contributions on account of the employees of any such library,
whose salaries and compensation for services are paid out of funds
appropriated by such city, or, if the amount of such contributions
required to be paid by such city, pursuant to any contract or agreement
made prior to the first participation of such employees, a copy of which
shall have been filed with the comptroller, is, in the judgment of the
comptroller, insufficient and inadequate to continue the membership of
the employees of such employer in the retirement system because of the
limit set in such contract, then such employer shall immediately be
relieved and exonerated from any duty or obligation to any person
whatsoever from making any contribution on account of any or all its
employees. A certificate to such effect shall be sent to the employer
and to the state superintendent of financial services. All members of
the retirement system, who were employees of such employer at the time
such certificate is issued, shall thereupon be entitled to discontinue
membership as provided in section thirty-one of this article. Any such
employer, however, within thirty days of the receipt of such certificate
may notify the comptroller that it elects to continue the benefits of
the retirement system for such of its employees whose salaries and
compensation for services are paid out of its own corporate funds.

e. Notwithstanding anything to the contrary, the retirement system
shall not be liable for the payment of any pensions or other benefits on
account of the officers and employees or pensioners of any employer
under this section, for which reserves have not been previously created
from funds contributed by such employer or its officers and employees
for such benefits.