§ 508. Death benefits. a. A member of a retirement system who is
subject to the provisions of this article, exclusive of those members
for whom provision is made pursuant to subdivision b of this section,
shall, at the time of first becoming a member thereof, make an election,
which shall be irrevocable, for coverage for financial protection in the
event of death in service, between the two following benefits:

1. A benefit upon the death of a member in service equal to one
month's salary for each full year of service up to a maximum of three
years' salary upon the completion of thirty-six full years of service,
or in the event that a member is eligible to retire without benefit
reduction pursuant to section five hundred three of this article, a
benefit equal to the pension reserve, if any, which would have been
payable to such member had he entered prior to the effective date of
this article and died in service; or

2. A benefit upon the death of a member in service equal to the
member's salary upon his or her completion of one year of service, two
years' salary upon completion of two years of service, and three years'
salary upon completion of three years of service. In the case of a
member of a retirement system other than the New York state teachers'
retirement system, the New York city employees' retirement system, the
New York city board of education retirement system, the New York city
teachers' retirement system, or the New York state and local employees'
retirement system, such benefit shall be subject to the following
limitations:

(a) If the member last joined the retirement system prior to
attainment of age fifty-two, the maximum benefit shall be three years'
salary;

(b) If the member was age fifty-two when he or she last joined the
retirement system, the maximum benefit shall be two and one-half times
annual salary;

(c) If the member was age fifty-three when he or she last joined the
retirement system, the maximum benefit shall be two years' salary;

(d) If the member was age fifty-four when he or she last joined the
retirement system, the maximum benefit shall be one and one-half times
annual salary;

(e) If the member was age fifty-five or older but under age sixty-five
when he or she last joined the retirement system, the maximum benefit
shall be one year's salary; and

(f) If the member was age sixty-five or older when he or she last
joined the retirement system, the maximum benefit shall be one thousand
dollars.

In the case of a member of a retirement system other than the New York
state teachers' retirement system, the New York city employees'
retirement system, the New York city board of education retirement
system, the New York city teachers' retirement system, or the New York
state and local employees' retirement system, commencing upon attainment
of age sixty-one, the benefit otherwise provided pursuant to this
paragraph shall be reduced while the member is in service to ninety per
centum of the benefit otherwise payable and each year thereafter the
benefit payable shall be reduced by an amount equal to ten per centum
per year of the original benefit otherwise payable, but not below ten
per centum of the original benefit otherwise payable.

Notwithstanding any other provision of this paragraph, in the case of
a member of the New York state teachers' retirement system, commencing
upon attainment of age sixty-two if such member's date of membership is
prior to April first, two thousand twelve or attainment of age
sixty-three if such member's date of membership is on or after April
first, two thousand twelve, the benefit otherwise provided pursuant to
this paragraph shall be reduced while the member is in service to
ninety-six per centum of the benefit otherwise payable, and each year
thereafter the benefit payable shall be reduced by an amount equal to
four per centum per year of the original benefit otherwise payable, but
not below sixty per centum of the original benefit otherwise payable. In
the case of a member of the New York city employees' retirement system,
the New York city board of education retirement system or the New York
city teachers' retirement system, commencing upon attainment of age
sixty-one, the benefit otherwise provided pursuant to this paragraph
shall be reduced while the member is in service to ninety-seven per
centum of the benefit otherwise payable and each year thereafter the
benefit payable shall be reduced by an amount equal to three per centum
per year of the original benefit otherwise payable, but not below
seventy per centum of the original benefit otherwise payable. In the
case of any member of the New York state and local employees' retirement
system who is permitted to retire without regard to age, commencing upon
attainment of age sixty-two if such member's date of membership is prior
to April first, two thousand twelve or attainment of age sixty-three if
such member's date of membership is on or after April first, two
thousand twelve, the benefit otherwise provided pursuant to this
paragraph shall be reduced while the member is in service to
ninety-seven per centum of the benefit otherwise payable, and each year
thereafter the benefit payable shall be reduced by an amount equal to
three per centum per year of the original benefit otherwise payable, but
not below seventy per centum of the original benefit otherwise payable.
In the case of any other member of the New York state and local
employees' retirement system, commencing upon attainment of age
sixty-two if such member's date of membership is prior to April first,
two thousand twelve or attainment of age sixty-three if such member's
date of membership is on or after April first, two thousand twelve, the
benefit otherwise provided pursuant to this paragraph shall be reduced
while the member is in service to ninety-six per centum of the benefit
otherwise payable, and each year thereafter the benefit payable shall be
reduced by an amount equal to four per centum per year of the original
benefit otherwise payable, but not below sixty per centum of the
original benefit otherwise payable. Upon retirement from any retirement
system, the benefit in force shall be reduced by fifty per centum; upon
completion of the first year of retirement, the benefit in force at the
time of retirement shall be reduced by an additional twenty-five per
centum, and upon commencement of the third year of retirement, the
benefit shall be ten per centum of the benefit in force at age sixty, if
any, or at the time of retirement if retirement preceded such age;
provided, however, the benefit in retirement shall not be reduced below
ten per centum of the benefit in force at age sixty, if any, or at the
time of retirement if retirement preceded such age. Notwithstanding any
other provision of this paragraph to the contrary, the benefit for a
retiree from the New York state and local employees' retirement system,
the New York state teachers' retirement system, the New York city
employees' retirement system, the New York city board of education
retirement system or the New York city teachers' retirement system shall
not be reduced below ten per centum of the benefit in force at the time
of retirement.

3. If a member dies in service without having made the election
specified in this subdivision within ninety days after first becoming a
member, or within the period prescribed by the retirement system of
which he is a member if such period is less than ninety days, he shall
be deemed to have made the election specified in paragraph two.

4. Notwithstanding any provision of this article, a member of a
retirement system subject to the provisions of this article who last
joined such system on or after January first, two thousand one who is
not covered by the death benefit calculation provided in subdivision b
of this section shall, upon a qualifying death, be covered by the death
benefit calculation provided pursuant to paragraph two of this
subdivision and shall not be entitled to elect between the death benefit
calculations provided in paragraphs one and two of this subdivision. Any
individual who last joined such system before January first, two
thousand one who is not covered by the death benefits calculation
provided in subdivision b of this section shall be covered, upon a
qualifying death, by the death benefit calculation provided by paragraph
two of this subdivision unless such individual had timely elected death
benefit coverage under the calculation provided by paragraph one of this
subdivision and, upon such death, it is determined that the benefit, as
calculated under such paragraph one would be greater than as calculated
under such paragraph two, in which case the benefit calculated under
such paragraph one shall be payable.

b. A member of a retirement system subject to the provisions of this
article who is a police officer, firefighter, correction officer,
investigator revised plan member or sanitation worker and is in a plan
which permits immediate retirement upon completion of a specified period
of service without regard to age or who is subject to the provisions of
section five hundred four or five hundred five of this article, shall
upon completion of ninety days of service be covered for financial
protection in the event of death in service pursuant to this
subdivision. Such death benefit shall be equal to three times the
member's salary raised to the next highest multiple of one thousand
dollars, but in no event shall it exceed three times the maximum salary
specified in section one hundred thirty of the civil service law or, in
the case of a member of a retirement system other than the New York city
employees' retirement system, or in the case of a member of the New York
city employees' retirement system who is a New York city uniformed
correction/sanitation revised plan member or an investigator revised
plan member, the specific limitations specified for age of entrance into
service contained in subparagraphs (b), (c), (d), (e) and (f) of
paragraph two of subdivision a of this section.

c. For the purpose of this section, salary shall be the regular
compensation earned during the member's last twelve months of service in
full pay status as a member or, if he or she had not completed twelve
months of service prior to the date of death, but was subject to the
provisions of subdivision b of this section, the compensation he or she
would have earned had he or she worked for the twelve months prior to
such date; provided, however, for the purpose of this section salary
shall exclude any form of termination pay (which shall include any
compensation in anticipation of retirement), or any lump sum payment for
deferred compensation sick leave, or accumulated vacation credit or any
other payment for time not worked (other than compensation received
while on sick leave or authorized leave of absence) and in no event
shall it exceed the maximum salary specified in section one hundred
thirty of the civil service law, as added by part B of chapter ten of
the laws of two thousand eight, or the maximum salary specified in
section one hundred thirty of the civil service law, as hereafter
amended, whichever is greater.

d. The benefits provided pursuant to this section are in lieu of all
other benefits provided by this or any other state or local law
exclusive of a benefit provided under the workmen's compensation law,
the civil service law or group life insurance; provided, however, a
beneficiary of a member eligible for a benefit as the result of a
service connected accident, may elect to receive such other benefit in
lieu of the benefit provided pursuant to this section.

e. For the purposes of this section:

1. A member who dies while off the payroll shall be considered to be
in service provided he or she (a) was on the payroll in such service and
paid within a period of twelve months prior to his or her death, or was
on the payroll in the service upon which membership is based at the time
he or she was ordered to active duty pursuant to Title 10 of the United
States Code, with the armed forces of the United States or to service in
the uniformed services pursuant to Chapter 43 of Title 38 of the United
States Code and died while on such active duty or service in the
uniformed services on or after June fourteenth, two thousand five, (b)
had not been otherwise gainfully employed since he or she ceased to be
on such payroll and (c) had credit for one or more years of continuous
service since he or she last entered or reentered the service of his or
her employer; and

2. The benefit payable shall be in addition to any payment made on
account of a member's accumulated contributions.

3. Provided, further, that any such member ordered to active duty
pursuant to Title 10 of the United States Code, with the armed forces of
the United States or to service in the uniformed services pursuant to
Chapter 43 of Title 38 of the United States Code who died prior to
rendering the minimum amount of service necessary to be eligible for
this benefit shall be considered to have satisfied the minimum service
requirement.

f. With respect to a member of the New York state and local employees'
retirement system who was covered by paragraph two of subdivision a of
the former section five hundred eight of this chapter, as added by
chapter eight hundred ninety of the laws of nineteen hundred
seventy-six, prior to its repeal pursuant to chapter six hundred
seventeen of the laws of nineteen hundred eighty-six and who is entitled
under the state constitution to have benefits calculated under such
provision as it read prior to such nineteen hundred eighty-six
amendment, the lump sum death benefit shall be determined pursuant to
subdivision a of this section. With respect to a member of the New York
state and local employees' retirement system who was covered by
subdivision b of the former section five hundred eight of this chapter,
as added by chapter eight hundred ninety of the laws of nineteen hundred
seventy-six, prior to its repeal pursuant to chapter six hundred
seventeen of the laws of nineteen hundred eighty-six and who is entitled
under the state constitution to have benefits calculated under such
provision as it read prior to such nineteen hundred eighty-six
amendment, the lump sum death benefit shall be determined pursuant to
subdivision a of this section.