* § 445-f. Optional twenty-five year/age fifty improved benefit
retirement program for senior automotive service workers, automotive
service workers, auto body workers, auto mechanics, marine maintenance
mechanics and oil burner specialists. a. Definitions. The following
words and phrases as used in this section shall have the following
meanings unless a different meaning is plainly required by the context.

1. "Retirement system" shall mean the New York city employees'
retirement system.

2. "Senior automotive service worker, automotive service worker, auto
body worker, auto mechanic, marine maintenance mechanic and oil burner
specialist" shall mean a member of the retirement system who is subject
to the provisions of this article, who is employed by the mayoral and
non-mayoral agencies of the city of New York and who has elected to
contribute to the retirement system on the basis of a minimum retirement
period of twenty-five year/age fifty of allowable service rendered
pursuant to the optional retirement provisions as set forth in paragraph
eight of this subdivision.

3. "Twenty-five year/age fifty improved benefit retirement program"
shall mean all the terms and conditions of this section.

4. "Starting date of the twenty-five year/age fifty improved benefit
retirement program" shall mean the effective date of this section, as
such date is certified pursuant to section forty-one of the legislative
law.

5. "Participant in the twenty-five year/age fifty improved benefit
retirement program" shall mean any senior automotive service worker,
automotive service worker, auto body worker, auto mechanic, marine
maintenance mechanic and oil burner specialist who, under the applicable
provisions of subdivision b of this section, is entitled to the rights,
benefits and privileges and is subject to the obligations of the
twenty-five year/age fifty improved benefit retirement program, as
applicable to him or her.

6. "Administrative code" shall mean the administrative code of the
city of New York.

7. "Accumulated deductions" shall mean accumulated deductions as
defined in subdivision eleven of section 13-101 of the administrative
code.

8. "Optional retirement provisions" shall mean the right to receive a
retirement allowance upon (i) the attainment of age fifty, and (ii) the
completion of twenty-five years of service.

b. Election of twenty-five year/age fifty improved benefit retirement
program. 1. Subject to the provisions of paragraph five of this
subdivision, any person who is a senior automotive service worker,
automotive service worker, auto body worker, auto mechanic, marine
maintenance mechanic, or oil burner specialist on the starting date of
the twenty-five year/age fifty improved benefit retirement program may
elect to become a participant in the twenty-five year/age fifty improved
benefit retirement program by filing, within one hundred eighty days
after such starting date, a duly executed application for such
participation with the retirement system, provided he or she is such a
senior automotive service worker, automotive service worker, auto body
worker, auto mechanic, marine maintenance mechanic or oil burner
specialist on the date such application is filed.

2. Subject to the provisions of paragraph five of this subdivision,
any person who becomes a senior automotive service worker, automotive
service worker, auto body worker, auto mechanic, marine maintenance
mechanic or oil burner specialist after the starting date of the
twenty-five year/age fifty improved benefit retirement program may elect
to become a participant in the twenty-five year/age fifty improved
benefit retirement program by filing, within one hundred eighty days
after becoming such a senior automotive service worker, automotive
service worker, auto body worker, auto mechanic, marine maintenance
mechanic or oil burner specialist, a duly executed application for such
participation with the retirement system, provided he or she is such a
senior automotive service worker, automotive service worker, auto body
worker, auto mechanic, marine maintenance mechanic or oil burner
specialist on the date such application is filed.

3. Any election to be a participant in the twenty-five year/age fifty
improved benefit retirement program shall be irrevocable.

4. Where any participant in the twenty-five year/age fifty improved
benefit retirement program shall cease to hold a position as a senior
automotive service worker, automotive service worker, auto body worker,
auto mechanic, marine maintenance mechanic or oil burner specialist, he
or she shall cease to be such a participant and, during any period in
which such a person does not hold such a senior automotive service
worker, automotive service worker, auto body worker, auto mechanic,
marine maintenance mechanic or oil burner specialist position, he or she
shall not be a participant in the twenty-five year/age fifty improved
benefit retirement program and shall not be eligible for the benefits of
subdivision c of this section.

5. Where any participant in the twenty-five year/age fifty improved
benefit retirement program terminates service as a senior automotive
service worker, automotive service worker, auto body worker, auto
mechanic, marine maintenance mechanic or oil burner specialist and
returns to such service as a senior automotive service worker,
automotive service worker, auto body worker, auto mechanic, marine
maintenance mechanic or oil burner specialist at a later date, he or she
shall again become such a participant on that date.

c. Service retirement benefits. Notwithstanding any other provision of
law to the contrary, where a participant in the twenty-five year/age
fifty improvement benefit retirement program, who is otherwise qualified
for a retirement allowance pursuant to the optional retirement
provisions set forth in subdivision a of this section, has made and/or
paid, while he or she is a senior automotive service worker, automotive
service worker, auto body worker, auto mechanic, marine maintenance
mechanic or oil burner specialist, all additional member contributions
and interest (if any) required by subdivision d of this section, then:

1. that participant, while he or she remains a participant, shall not
be subject to the provisions of subdivision a of section four hundred
forty-five of this article; and

2. if that participant, while such a participant, retires from
service, he or she shall not be subject to the provisions of section
four hundred forty-four of this article; and

3. his or her retirement allowance shall be an amount, on account of
the required minimum period of service, equal to one-half of his or her
final average salary, plus an amount for each additional year of
allowable service, or fraction thereof, beyond such required minimum
period of service equal to two percent of his or her final average
salary; and

4. the maximum retirement benefit computed without optional
modification payable to that participant upon his or her retirement for
service as such a participant shall equal that payable upon completion
of thirty years of service.

d. Additional member contributions. 1. In addition to the member
contributions required pursuant to section 13-162 of the administrative
code, each participant in the twenty-five year/age fifty improved
benefit retirement program in the title of senior automotive service
worker, automotive service worker, auto body worker, auto mechanic,
marine maintenance mechanic or oil burner specialist shall contribute an
additional four and eighty-three one-hundredths percent of his or her
compensation earned from all allowable service as a senior automotive
service worker, automotive service worker, auto body worker, auto
mechanic, marine maintenance mechanic or oil burner specialist rendered
on and after the date which is one hundred eighty days prior to the
starting date of the twenty-five year/age fifty improved benefit
retirement program. A participant in the twenty-five year/age fifty
improved benefit retirement program shall contribute additional member
contributions until the later of (i) the date as of which he or she is
eligible to retire with twenty-five years of creditable service as a
senior automotive service worker, automotive service worker, auto body
worker, auto mechanic, marine maintenance mechanic or oil burner
specialist under such retirement program, or (ii) the first anniversary
of the starting date of the twenty-five year/age fifty improved benefit
retirement program. The additional contributions required by this
paragraph shall be in lieu of additional member contributions required
by subdivision d of section four hundred forty-five-d of this article,
as added by chapter ninety-six of the laws of nineteen hundred
ninety-five, and no member paying additional contributions pursuant to
this section shall be required to pay additional contributions pursuant
to such subdivision d of section four hundred forty-five-d of this
article.

2. Commencing with the first full payroll period after each person
becomes a participant in the twenty-five year/age fifty improved benefit
retirement program, additional member contributions at the rate
specified in paragraph one of this subdivision shall be deducted from
the compensation of such participant on each and every payroll of such
participant for each and every payroll period.

3. (i) Subject to the provisions of subparagraph (ii) of this
paragraph, where any additional member contributions required by
paragraph one of this subdivision are not paid by deductions from a
participant's compensation pursuant to paragraph two of this
subdivision:

(A) that participant shall be charged with a contribution deficiency
consisting of such unpaid amounts, together with interest thereon,
compounded annually; and

(B) such interest on each amount of undeductible contributions shall
accrue from the end of the payroll period for which such amount would
have been deducted from compensation if he or she had been a participant
at the beginning of that payroll period, until such amount is paid to
the retirement system; and

(C) the rate of interest to be applied to each such amount during the
period for which interest accrues on that amount shall be equal to the
rate or rates of interest required by law to be used during that same
period to credit interest on the accumulated deductions of retirement
system members.

(ii) Except as provided in subparagraph (iii) of this paragraph, no
interest shall be due on any unpaid additional contributions which are
not attributable to the period prior to the first full payroll period
referred to in paragraph two of this subdivision.

(iii) Should any person who, pursuant to paragraph seven of this
subdivision, has withdrawn any additional member contributions (and any
interest paid thereon) again become a participant in the twenty-five
year/age fifty improved benefit retirement program pursuant to paragraph
five of subdivision b of this section, an appropriate amount shall be
included in such participant's contribution deficiency (including
interest thereon as calculated pursuant to subparagraph (i) of this
paragraph) as if such additional contributions had never been made.

4. The board of trustees of the retirement system may, consistent with
the provisions of this subdivision, promulgate regulations for the
payment of such additional member contributions, and any interest
thereon, by a participant in the twenty-five year/age fifty improved
benefit retirement program (including the deduction of such
contributions, and any interest thereon, from his or her compensation).

5. Where a contribution deficiency chargeable to a participant
pursuant to paragraph three of this subdivision has not been paid in
full while the participant is a senior automotive service worker,
automotive service worker, auto body worker, auto mechanic, marine
maintenance mechanic or oil burner specialist, that participant shall
not be entitled to the benefits provided in subdivision c of this
section.

6. Where a participant has not paid in full any contribution
deficiency chargeable to him or her pursuant to paragraph three of this
subdivision, and a benefit, other than a refund of a member's
accumulated deductions or a refund of additional member contributions
pursuant to paragraph seven of this subdivision, becomes payable by the
retirement system to the participant or to his or her designated
beneficiary or estate, the actuarial equivalent of any such unpaid
amount shall be deducted from the benefit otherwise payable.

7. (i) All additional member contributions required by this
subdivision (and any interest thereon) which are received by the
retirement system shall be paid into its contingent reserve fund and
shall be the property of the retirement system. Such additional member
contributions (and any interest thereon) shall not for any purpose be
deemed to be accumulated deductions of a member of the retirement system
while he or she is a participant in the twenty-five year/age fifty
improved benefit retirement program or otherwise.

(ii) Should a participant in the twenty-five year/age fifty improved
benefit retirement program, who has rendered less than fifteen years of
credited service cease to hold a position as a senior automotive service
worker, automotive service worker, auto body worker, auto mechanic,
marine maintenance mechanic or oil burner specialist for any reason
whatsoever, his or her accumulated additional member contributions made
pursuant to this subdivision (together with any interest thereon paid to
the retirement system) may be withdrawn by him or her pursuant to
procedures promulgated in regulations of the board of trustees of the
retirement system, together with interest thereon equal to eight and
one-quarter percent per annum, compounded annually.

(iii) Except as otherwise provided in subparagraph (ii) of this
paragraph, no member of the retirement system, while he or she is a
participant in such retirement program or otherwise, shall have a right
to withdraw such additional member contributions or any interest thereon
from the retirement system.

8. A member who has made the additional contributions specified by
this subdivision may borrow a portion of such contributions pursuant to
the provisions of section six hundred thirteen-b of this chapter.

9. Notwithstanding any other provision of law to the contrary, the
provisions of section one hundred thirty-eight-b of this chapter shall
not be applicable to the additional member contributions which are
required by this subdivision.

10. Notwithstanding any other provision of law to the contrary, the
additional member contributions which are required by this subdivision
shall not be reduced under any program for increased-take-home-pay.

* NB Rpld per ch 414/02, § 1. § 480 of Retirement and Social Security
Law (as amended by ch. 35/2005 § 2) extends disability benefits
implemented by former § 63-c.

* NB There are 3 § 445-f's