§ 80-a. Legislative and executive retirement plan; new plan. a. As
used in this section the following words and phrases shall have the
following meanings unless a different meaning is plainly required by the
context:

1. "Legislative and executive member". A person who is
lieutenant-governor, comptroller, attorney-general, a senator, an
assemblyman or an annual or session employee of the legislature, and
elects to come under the provisions of this section.

1-a. "Legislative employee" means (a) an officer or employee of the
senate; (b) an officer or employee of the assembly; (c) an officer or
employee of a joint legislative employer. For the purposes of this
subdivision, the term "joint legislative employer" shall mean
legislative commissions, committees, task forces (irrespective of
intended or actual duration), joint legislative commissions, councils or
similar bodies whose membership is comprised of both senators and
assembly members, or which consist of commissioners, or the majority of
whose membership is appointed by one or more of the following: the
temporary president of the senate, the speaker of the assembly, the
minority leader of the senate and/or the minority leader of the
assembly, and shall include officers and employees of the legislative
library, legislative health service, legislative messenger service and
including components of the senate or assembly that are so identified
pursuant to the legislative law; and further shall include officers and
employees of a joint legislative employer which at the time of the
service satisfies the foregoing definition of "joint legislative
employer". "Legislative service" or "legislative employment" shall mean
service or employment as a legislative employee as defined herein.

2. "Annual employee". A person employed by the legislature on an
annual payroll for not less than twenty-six weeks in any calendar year
(exclusive of employees of joint legislative committees or temporary
commissions) regardless of whether or not such service is consecutive
and regardless of whether rendered before or after the effective date of
this act.

3. "Session employee". A person employed by the legislature on a
session payroll during the entire period of a regular session of the
legislature. For the purposes of this paragraph, the entire period of a
regular session of the legislature shall mean the period covered by the
session payroll schedule adopted for administrative purposes and
certified to by the temporary president of the senate or the speaker of
the assembly, as the case may be, at the commencement of a regular
session of the legislature.

4. "Final average salary". The average yearly and/or annual
compensation earned during any three consecutive years of creditable
service, as selected by such member at the time of retirement.

5. "Yearly compensation". The total salary or wages and statutory
allowance paid in any calendar year for creditable service to the
lieutenant-governor, comptroller, attorney-general, a senator, an
assemblyman or an annual or session employee of the legislature for any
purpose, and/or while a delegate, officer or employee of the conventions
to revise and amend the constitution of the state in the years nineteen
hundred thirty-eight or nineteen hundred sixty-seven, or both.

6. "Annual compensation". The total salary or wages paid in any
calendar year to a person for any creditable service under this section,
other than service as lieutenant-governor, comptroller,
attorney-general, a senator, an assemblyman or an annual or session
employee of the legislature.

7. "Creditable service". Regardless of whether rendered before or
after the effective date of this section, service rendered as
lieutenant-governor, comptroller, attorney-general, a senator, an
assemblyman or an annual or session employee of the legislature, and
service rendered to the state, any political subdivision thereof or a
public benefit corporation for which credit is granted under the
provisions of this or any other section of this chapter, and military
service. A senator or an assemblyman or a session employee who serves
during an entire regular legislative session, and an annual employee who
serves not less than twenty-six weeks during any calendar year shall be
credited with service for the entire year. Notwithstanding the foregoing
provisions of this paragraph, service rendered to the state, any
political subdivision thereof or a public benefit corporation for which
credit is granted under the provisions of any other section of this
chapter shall not be deemed to be creditable service, as herein defined,
if rendered by a person who becomes a member under the provisions of
this section on and after July first, nineteen hundred seventy-two.

8. "Military service". (a) Prior military service as defined in
paragraphs d and e of subdivision twenty-four of section two of this
chapter; and

(b) Service in war after world war I as defined in subdivisions
twenty-nine, twenty-nine-a, thirty, and thirty-one of section two of
this chapter; and

(c) In the case of a senator or assemblyman, service, not in excess of
three years and not otherwise creditable under subparagraph (b) of this
paragraph, rendered on active duty in the armed forces of the United
States during the period commencing July first, nineteen hundred forty,
and terminating December thirty-first, nineteen hundred forty-six, by a
person who was a resident of the state at the time of entry into service
and at the time of being discharged therefrom (i) under honorable
circumstances, or (ii) has a qualifying condition, as defined in section
three hundred fifty of the executive law, and was a resident of the
state at the time of entry into service and at the time of receiving a
discharge other than bad conduct or dishonorable from such service, or
(iii) is a discharged LGBT veteran, as defined in section three hundred
fifty of the executive law, and was a resident of the state at the time
of entry into service and at the time of receiving a discharge other
than bad conduct or dishonorable from such service.

9. "Service fraction". The fraction by which a member's final average
salary times his years of service is multiplied to determine such
member's pension.

b. Any person who is lieutenant-governor, comptroller,
attorney-general, a senator, an assemblyman or an annual or session
employee of the legislature may elect to come under the provisions of
this section by filing an application therefor with the comptroller on
or before April first, nineteen hundred sixty-nine or within one year
after he last becomes lieutenant-governor, comptroller,
attorney-general, a senator, an assemblyman or an annual or session
employee of the legislature, whichever is later. One year or more after
the filing thereof, a member may withdraw any such election by written
notice duly acknowledged and filed with the comptroller.

c. 1. A legislative and executive member who, while a member of this
retirement system under the provisions of any other section of this
chapter, elected, prior to August nineteenth, nineteen hundred
sixty-seven, to contribute at a rate of contribution determined in
accordance with the provisions of such section, shall continue to
contribute at such rate until such election is withdrawn as provided in
subdivision e of section seventy-five-a of this chapter.

2. No contribution may be made by a legislative and executive member
under the provisions of this section who:

(a) becomes a member of the retirement system on and after April
first, nineteen hundred sixty-eight; or

(b) was a non-contributory member of the retirement system at the time
he elects to come under the provisions of this section.

3. In addition, every person who was a member of this retirement
system prior to August nineteenth, nineteen hundred sixty-six may elect
or may continue to make contributions pursuant to subdivision i of
section twenty-one of this chapter.

d. 1. A legislative and executive member who does not withdraw his
contributions made prior to April first, nineteen hundred sixty, shall
be entitled to retire, subject to the provisions of subdivision h of
this section, upon his:

(a) Completion of twenty years of service as a state senator or
assemblyman, which may include service credited under subparagraph (c)
of paragraph eight of subdivision a of this section, or

(b) Completion of at least five years of service as a legislative and
executive member, and

(c) Completion of at least five additional years of creditable
service, and

(d) Attainment of age fifty-five,
by filing an application therefor in a manner similar to that provided
in section seventy of this article.

2. (a) Upon completion of such service and upon retirement, each such
legislative and executive member shall receive a pension for creditable
service prior to April first, nineteen hundred sixty which, together
with an annuity, if any, which shall be the actuarial equivalent of his
accumulated normal contributions attributable to the period prior to
April first, nineteen hundred sixty, and accumulated contributions paid
to receive credit for military service as defined in subparagraph c of
paragraph eight of subdivision a of this section, shall be sufficient to
provide him with a retirement allowance equal to one-fortieth of his
final average salary for each year of such service.

For the purpose only of determining the amount of such pension
provided for in this subparagraph (a), the annuity shall be computed as
it would be if it were not reduced by the actuarial equivalent of any
outstanding loan, and if it were not increased by the actuarial
equivalent of other than normal contributions, and if it were not
reduced by reason of the legislative and executive member's election to
decrease his annuity contributions to the retirement system in order to
apply the amount of such reduction in payment of his contributions for
old age and survivors insurance coverage.

(b) In addition, each such legislative and executive member shall
receive: (1) An additional annuity which shall be the actuarial
equivalent of his accumulated contributions other than those required
pursuant to subparagraph (a) of paragraph two of this subdivision or
made on and after April first, nineteen hundred sixty to this retirememt
system, or to a local pension system in the case of a member who
transfers his membership to this retirement system on and after such
date pursuant to section forty-three of this chapter; and

(2) An additional pension of one-fortieth of such member's final
average salary for each year of creditable service after April first,
nineteen hundred sixty.

3. In no event shall the sum total of the pensions payable under this
section to any member exceed seventy-five per cent of such member's
final average salary.

e. Any legislative and executive member who was a member of this
retirement system pursuant to the provisions of any other section of
this chapter, and/or who was a member of a local pension system and who
receives or received service credit therefor in this retirement system
pursuant to section forty-three of this chapter, and/or who renders or
rendered military service, shall receive full credit under this section
for such service. In addition to credit for military service previously
granted or subsequently granted pursuant to other provisions of this
chapter, credit for military service as defined in subparagraph (c) of
paragraph eight of subdivision a of this section shall be granted upon
payment by the member of both the amount of contributions which such
member would have been required to pay into the annuity savings fund and
the amount which the state would have been required to pay into the
pension accumulation fund if such service had been legislative service
pursuant to section eighty of this chapter. No credit shall be allowed
for military service if, but for the member's failure to avail himself
of the privilege of transfer within the time and in the manner provided
in section forty-three of this article, credit for such service could
have been obtained upon transfer from another retirement system pursuant
to such section, nor shall such credit for military service as defined
in subparagraph (c) of paragraph eight of subdivision a of this section
be allowed if application for such credit is made later than one year
after first becoming a member of the legislative and executive plan set
forth in this section. Such contributions shall be paid in a lump sum or
in such installments as the comptroller shall approve, and shall be
reduced by the amount of applicable contributions, if any, made or
transferred to this retirement system under any section of this chapter
for such service.

f. 1. A legislative and executive member who discontinues service
other than by death or retirement after March thirty-first, nineteen
hundred sixty-eight and who has received credit for service on the basis
of the plan contained in this section for at least ten years and who
does not withdraw his contributions made prior to April first, nineteen
hundred sixty shall be eligible to retire on the date when the member
would have otherwise been eligible to retire pursuant to subdivision d
of this section had he continued in the service covered by this section,
and shall receive a retirement allowance computed in accordance with the
provisions of paragraph two of this subdivision.

2. (a) Such vested retirement allowance shall consist of a pension for
creditable service prior to April first, nineteen hundred sixty which,
together with an annuity, if any, which shall be the actuarial
equivalent of his accumulated normal contributions attributable to the
period prior to April first, nineteen hundred sixty and accumulated
contributions paid to receive credit for military service as defined in
subparagraph c of paragraph eight of subdivision a of this section,
shall be sufficient to provide him with a retirement allowance equal to
one-fortieth of his final average salary for each year of such service.

For the purpose only of determining the amount of such pension
provided for in this subparagraph (a), the annuity shall be computed as
it would be if it were not reduced by the actuarial equivalent of any
outstanding loan, and if it were not increased by the actuarial
equivalent of other than normal contributions, and if it were not
reduced by reason of the legislative and executive member's election to
decrease his annuity contributions to the retirement system in order to
apply the amount of such reduction in payment of his contributions for
old age and survivors insurance coverage.

(b) In addition, such vested retirement allowance shall include:

(1) an additional annuity which shall be the actuarial equivalent of
his accumulated contributions other than those required pursuant to
subparagraph a of paragraph two of this subdivision or made on and after
April first, nineteen hundred sixty, to this retirement system, or to a
local pension system in the case of a member who transfers his
membership to this retirement system on and after such date pursuant to
section forty-three of this chapter, and

(2) an additional pension of one-fortieth of such member's final
average salary for each year of creditable service after April first,
nineteen hundred sixty.

g. 1. Any legislative and executive member, who has vested rights
under subdivision f of this section, who terminates his employment as
lieutenant-governor, comptroller, attorney-general, a senator, an
assemblyman or an annual or session employee of the legislature, and who
obtains other employment in the service of the state, a political
subdivision thereof or a public benefit corporation participating in
this retirement system or maintaining a local pension system from or to
which a person may transfer pursuant to section forty-three of this
chapter, may elect to continue to be a legislative and executive member
and be covered by, and make contributions in accordance with, the
provisions of this section in the same manner as during his period of
service as lieutenant-governor, comptroller, attorney-general, a
senator, an assemblyman or an annual or session employee of the
legislature. In such case, notwithstanding the provisions of item (2) of
subparagraph (b) of paragraph two of subdivision d, and item (2) of
subparagraph (b) of paragraph two of subdivision f, the additional
pension earned under this subdivision g shall be computed by multiplying
the member's final average salary for each such year of service by the
service fraction applicable to the section of this chapter or local
pension system which otherwise would have been applicable to such
member.

2. Notwithstanding any general, special or local law, charter or code,
any such member who makes the election provided in this subdivision
shall not be eligible for membership in the local pension system
maintained by the political subdivision or public benefit corporation by
which he is employed.

3. Every political subdivision or public benefit corporation which
employs any such member shall make contributions to this retirement
system on behalf of such member equal to the amount of contributions
otherwise required of the political subdivision or public benefit
corporation by this retirement system in the case of a participating
employer, or by the local pension system in the case of a
non-participating employer. Such contributions shall be transferred to
this retirement system at such times and in such manner as shall be
prescribed by the comptroller.

h. 1. No member shall be eligible to retire under the provisions of
subdivision d of this section unless he was a legislative and executive
member and/or elected to be continued as a legislative and executive
member pursuant to subdivision g of this section for at least three
years immediately prior to his date of retirement, or was a senator or
assemblyman for at least two years immediately prior to his date of
retirement.

2. No member shall be eligible to retire under the provisions of
subdivision f of this section unless he was a legislative and executive
member and/or elected to be continued as a legislative and executive
member pursuant to subdivision g of this section for at least three
years immediately prior to his discontinuance of service or was a
senator or assemblyman for at least two years immediately prior to his
discontinuance of service.

i. Whenever any death benefit, based upon eligibility for retirement,
is granted by any other provision of this chapter or any other law, any
legislative and executive plan member shall be considered to have been
eligible to retire after the completion of twenty years of creditable
service as defined in this section, including five years as a
legislative and executive member, notwithstanding any other requirement
contained in this section respecting minimum age for retirement.

j. On and after July first, nineteen hundred seventy-three, no person
may elect to be covered under the provisions of this section.

k. The provisions of this section shall be controlling notwithstanding
any provision of this chapter to the contrary.