§ 42. Payments for credit for service for the federal government or
certain public authorities or corporations. a. The payments required by
this section shall be made by:

1. Members who elect to continue their membership pursuant to
subdivision d of section forty of this article even though their
government service was discontinued because of the transfer of their
offices to the federal government or to any public authority or
corporation organized pursuant to the laws of this state, and which is
not a participating employer.

2. Officers or employees of the federal government who are
contributing members pursuant to paragraph four of subdivision c of
section forty of this article.

3. Members who claim service credit pursuant to paragraph four of
subdivision b of section forty-one of this article for federal service
previously rendered by them.

b. Memberships pursuant to paragraph four of subdivision c of section
forty of this article shall be conditioned upon the payment in regular
monthly installments into:

1. The annuity savings fund of a proportion of the salary paid to the
member in such employment computed upon his rate of contribution, and

2. The annuity savings fund of a sum computed to be sufficient to
provide the full cost of the service retirement benefits to which such
member could have become entitled as an incident of his membership and
which would have been payable from the pension reserve fund if he were
in government service, and

3. The pension accumulation fund of a sum, computed upon the rate of
contribution necessary to provide the full cost of all benefits, other
than service retirement benefits, to which such member could have become
entitled as an incident of his membership if he were in government
service.

In the case of such a membership which was last begun or last resumed
prior to March twenty-ninth, nineteen hundred forty-four and which now
is continuing pursuant to such paragraph four of subdivision c of
section forty of this article, and so long as federal service of such
member shall continue hereafter without interruption, the member shall
make only the payments required by former section fifty-two-c of the
civil service law, as amended by chapter seven hundred ninety-four of
the laws of nineteen hundred thirty-nine. Federal service covered by
such former section fifty-two-c of the civil service law shall not, for
the purposes of this paragraph, be deemed to have been interrupted by
the rendition of service to the state immediately after such federal
service and the return to such federal service not later than four
months after the termination of such service to the state.

c. Memberships pursuant to subdivision d of section forty of this
article shall be conditioned upon the payment in regular monthly
installments into:

1. The annuity savings fund of a proportion of the salary paid to the
member in such employment computed upon his rate of contribution, and

2. The pension accumulation fund of a further proportion of such
salary to cover the state contribution on his account computed upon the
rate of contribution that would have been payable by the state in his
behalf had he continued in government service. The payments required to
be made by this paragraph two may be made by the member's employer in
his behalf.
In the event the office in which a member was employed was transferred
as provided in subdivision d of section forty of this article prior to
January first, nineteen hundred thirty-three, such member shall be
required to make only the payments provided for in paragraph one of this
subdivision c.

d. The granting of service credit pursuant to paragraph four of
subdivision b of section forty-one of this article shall be conditioned
upon the payment, in a lump sum or in regular monthly installments, over
a period no greater than the number of months of service for which such
credit is being purchased, into:

1. The annuity savings fund of a sum equal to the amount that would
have been in such fund to his credit if he had actually been a member
contributing thereto during the entire period of such federal service,
computed on the basis of his present salary, regular interest and tables
as adopted by the comptroller, and

2. The annuity savings fund of a sum computed to be sufficient to
provide the full cost of an annuity at retirement, equal to the pension
and pension-providing-for-increased-take-home-pay, if any, which would
be provided out of the pension reserve fund if such federal service had
been government service, and

3. The pension accumulation fund of a sum, computed upon the rate of
contribution necessary to provide the full cost of all benefits, other
than service retirement benefits, to which he would have become entitled
if such federal service had been government service.

e. The United States government may make the payments required to be
made by paragraphs two and three of subdivision b or by paragraphs two
and three of subdivision d of this section. The sums so paid by it shall
be credited to the pension accumulation fund. Only to the extent that
payments are so made by the United States government shall service
credit purchased pursuant to this section be used in determining a
member's pension for any type of service retirement benefit.

f. If a member is contributing pursuant to section seventy-one or
seventy-one-a of this article and elects or has elected to pay for
federal service under subdivisions b, c or d of this section, his
payments into the annuity savings fund shall be computed in an amount
sufficient to provide the full cost of an annuity at age fifty-five
equal to the service retirement allowance he would receive at age
fifty-five for such federal service under the provisions of section
seventy-one or seventy-one-a had it been government service.