552 - Optional twenty year retirement plan for certain members whose employer elects to provide same.

§  552. Optional twenty year retirement plan for certain members whose  employer elects to provide same.  a. Any member of the retirement system  may elect to become a member pursuant to the provisions of this  section  within one year after he or she becomes a member, if his or her employer  has  elected  to make the benefits provided herein available to members,  or within one year after his or her employer elects to make the benefits  provided herein available to its members.    b. Elections made pursuant to this section shall  be  in  writing  and  shall  be  duly acknowledged and filed with the comptroller.  Any member  who files such an election pursuant to  this  section  may  withdraw  it  after it has been filed for at least a year. Such withdrawal shall be by  written notice duly acknowledged and filed with the comptroller.    c.  A member participating on the basis of this section at the time of  retirement, shall be entitled to retire after the completion  of  twenty  years  of  total  creditable  service  or  upon  the  attainment  of age  sixty-two, by filing an application therefor in a manner similar to that  provided in this chapter.    1.  Upon  completion  of  twenty  years  of  such  service  and   upon  retirement,  each  such  member  shall  receive  a pension sufficient to  provide him or her with a retirement allowance equal to one-fortieth  of  his  or  her  final  average  salary  for  each year of total creditable  service for which he or she is otherwise entitled but not  exceeding  in  the aggregate one-half of his or her final average salary.    2.  Upon  attainment  of  age  sixty-two  and  upon retirement without  completion of twenty years of  such  service,  each  such  member  shall  receive  a  pension  sufficient  to provide him or her with a retirement  allowance equal to one-fortieth of his or her final average  salary  for  each  year  of  creditable  service.  Every  such  member  shall also be  entitled to an additional pension equal to the  pension  for  any  other  creditable  service  rendered as otherwise provided for in this chapter.  This latter pension shall not increase the total allowance to more  than  one-half of his or her final average salary.    d.  The  increased  pensions  to  such  members,  as  provided by this  section, shall  be  paid  from  additional  contributions  made  by  the  participating  employer  on  account of such members. The actuary of the  retirement system shall compute the additional contribution required for  each member who elects to receive the special  benefits  provided  under  this  section.  Such  additional  contributions shall be computed on the  basis of contributions during the prospective  service  of  such  member  which  will  cover the liability of the retirement system for such extra  pensions.  Upon   approval   of   the   comptroller,   such   additional  contributions  shall  be  certified  by  him  or her to the chief fiscal  officer of the participating  employer.  The  amount  thereof  shall  be  included in the annual appropriation of the participating employer. Such  amount  shall  be paid on the warrant of the chief fiscal officer of the  participating  employer  to  the  pension  accumulation  fund   of   the  retirement system.    e.  In  computing  the  twenty years of completed service of a member,  full  credit  shall  be  given  for  military  service  as  defined   in  subdivisions  twenty-nine-a  and  thirty of section three hundred two of  this chapter.    f. Every member participating on the basis of this  section  shall  be  separated  from  the  service on the last day of the calendar month next  succeeding the calendar month in which he or she attains age  sixty-two,  provided,  however, that such a member who attained the age of sixty-two  before his or her employer elected to make the benefits provided  herein  available  to him or her, or who attains the age of sixty-two within one  month after his or her employer makes such  benefits  available,  to  beeligible  for  a  pension  computed in accordance with the provisions of  this section, shall be separated from the service  within  three  months  after his or her employer makes such benefits available.    g. The provisions of this section shall be controlling notwithstanding  any provision in this article to the contrary.    h.  The  benefits  of  this  section  shall be available only to those  members whose employer elects to provide such  benefits  by  adopting  a  resolution  to  such effect and filing a certified copy thereof with the  comptroller.    i. The benefits hereinabove provided shall be  payable  to  a  member,  unless  at  the  date  of  retirement,  such  member  would otherwise be  entitled to a greater benefit under other provisions of this chapter had  he or she withdrawn from this  section,  in  which  event  such  greater  benefits shall be payable.    j. As used in this section "creditable service" shall include, any and  all  services  performed  as  a sheriff, undersheriff or deputy sheriff,  provided, however, that criminal law enforcement service shall  only  be  creditable  when  it  aggregates  fifty per centum or more of his or her  service as a deputy sheriff. Credit for service as a member  or  officer  of  the  state  police or as a paid fireman, policeman or officer of any  organized fire department or police force or department of  any  county,  city,  village, town, fire district or police district, or as a criminal  investigator in the office of a district attorney, provided that service  as such investigator shall have been rendered prior  to  January  first,  nineteen  hundred  sixty  and that credit therefor shall not exceed five  years, shall also be deemed  to  be  creditable  service  and  shall  be  included  in computing years of total service for retirement pursuant to  this section, provided such service was performed by  the  member  while  contributing to the retirement system pursuant to the provisions of this  article or article eight of this chapter.    k.  As  used  in this section, "creditable service" shall also include  any and all services performed as an employee  of  the  Columbia  county  sheriff's  department, provided that such employment was performed on or  before December thirty-first, nineteen hundred ninety-five and  provided  that  on  that date the employee was performing criminal law enforcement  duties in the Columbia county sheriff's department.