Section 13-382
§ 13-382 Definitions. As used in this subchapter, the following words
and phrases shall have the following meanings, unless a different
meaning is plainly required by the context:
1. "Variable supplements fund". The firefighters' variable supplements
fund established by this subchapter.
1-a. "Minimum period". The minimum period of credited service which a
member of pension fund subchapter one or pension fund subchapter two is
required by law to perform in order to be eligible to retire for service
with immediate payability of retirement allowance.
1-b. "Firefighter". A member of either pension fund referred to in
subdivision one-a of this section who, at the time of retirement for
service by reason of fulfillment of the minimum period, was a
firefighter and was not a fire officer as defined in subdivision five of
section 13-392 of subchapter six of this chapter.
2. "Association". The uniformed firefighters' association of greater
New York.
3. "Fiscal year". Any year commencing with the first day of July and
ending with the thirtieth day of June next following.
4. "Board". The board of trustees provided for in section 13-384 of
this subchapter.
5. "Pension fund beneficiary". (a) Subject to the provisions of
paragraph (b) of this subdivision and except as provided in subdivision
e of section 13-385 of this subchapter, any person who receives a
retirement allowance by reason of having retired, on or after October
first, nineteen hundred sixty-eight, for service (with credit for twenty
or more years of service creditable toward the minimum period) as a
member of pension fund subchapter one or subchapter two and as a
firefighter or fire marshal (uniformed).
(b) With respect to benefits payable under this subchapter for
calendar years succeeding December thirty-first, nineteen hundred
ninety-two, the term "pension fund beneficiary" subject to the
provisions of paragraph thirteen of subdivision a of section 13-385 of
this subchapter) shall include each person who receives a retirement
allowance by reason of having retired, on or after October first,
nineteen hundred sixty-eight, for service (with credit for twenty or
more years of service creditable toward the minimum period) as a member
of pension fund subchapter one or pensions fund subchapter two and as a
wiper (uniformed).
6. "Variable supplement". Any sum authorized to be paid to a pension
fund beneficiary pursuant to the provisions of this subchapter.
7. "Pension fund subchapter two". The New York fire department pension
fund subchapter two maintained pursuant to subchapter two of chapter
three of this title.
8. "Pension fund subchapter one". The New York fire department pension
fund maintained pursuant to subchapter one of chapter three of this
title.
Section 13-383
§ 13-383 Firefighters' variable supplements fund. a. There is hereby
established a fund, to be known as the firefighters' variable
supplements fund. Such fund shall consist of such monies as may be paid
thereto from pension fund subchapter two, pursuant to the provisions of
sections 13-335 and 13-335.1 of this chapter and all other monies
received by such fund from any other source pursuant to law.
b. It is hereby declared by the legislature that the firefighters'
variable supplements fund shall not be, and shall not be construed to
constitute, a pension or retirement system or fund, and that it shall
function as a means whereby payments, not constituting a pension or
retirement allowance, shall be made in accordance with the provisions of
this subchapter, to eligible pension fund beneficiaries as a supplement
to benefits received by them under subchapter one or subchapter two of
this chapter. The legislature hereby reserves to the state of New York
and itself the right and power to amend, modify or repeal any or all of
the provisions of this subchapter.
Section 13-384
§ 13-384 Board of trustees. a. The variable supplements fund shall be
administered by a board of trustees which shall, subject to applicable
provisions of law and to the prior approval of the board of estimate,
from time to time establish rules and regulations for the administration
and transaction of the business of such fund and for the control and
disposition thereof.
b. Such board shall consist of:
1. The representative of the mayor who is a member of the board of
trustees of pension fund subchapter two, who shall be entitled to cast
one vote. The mayor may, by instrument in writing filed in his or her
office and with the board, designate one or more members of his or her
office to act in the place of such representative at meetings of the
board, in the event of such representative's absence therefrom.
2. The comptroller of the city, who shall be entitled to cast one
vote. Any deputy comptroller authorized, pursuant to subdivision b of
section ninety-four of the New York city charter, to act in the place of
the comptroller as a member of the board of trustees of pension fund,
subchapter two, may be authorized by the comptroller, in accordance with
the provisions of such subdivision b, to act in the place of the
comptroller as a member of the board.
2-a. The commissioner of finance, who shall be entitled to cast one
vote. Such commissioner may, by instrument in writing filed in his or
her office and with the board, designate one or more members of his or
her office to act in his or her place at meetings of the board, in the
event of such commissioner's absence therefrom.
3. Two members of the association designated by it, who shall each be
entitled to cast one vote. The members so designated shall be officers
of the association who are members of the board of trustees of pension
fund subchapter two. Each such designee may at any time, by written
authorization filed with the board, authorize any other officer of the
association to act in his or her place as a member of the board in the
event of such designee's absence from any meeting thereof; provided that
the by-laws or constitution of the association provide for the
designation of a representative for such purpose.
c. Every act of the board shall be by resolution which shall be
adopted only by a vote of at least three-fifths of the whole number of
votes authorized to be cast by all of the members of such board.
d. The actuary appointed pursuant to section 13-121 of the code shall
be the technical advisor of the board.
e. (1) As of June thirtieth of the nineteen hundred
eighty-eight--nineteen hundred eighty-nine base fiscal year and as of
June thirtieth of each succeeding base fiscal year, the actuary referred
to in subdivision d of this section shall make a valuation of the assets
and liabilities of the variable supplements fund in accordance with the
requirements of the succeeding paragraphs of this subdivision e.
(2) The actuary shall base such annual valuation of liabilities only
(A) upon the persons who, as of each such June thirtieth, are pension
fund beneficiaries or persons eligible to receive supplemental benefits
pursuant to subdivision e of section 13-385 of this subchapter and (B)
upon the persons who, being firefighters or fire marshals (uniformed) in
service as of such June thirtieth, may be actuarially expected to retire
thereafter as firefighters or fire marshals (uniformed) for service with
twenty or more years of service creditable toward the minimum period and
(C) with respect to any such valuation for any base fiscal year
beginning on or after July first, nineteen hundred ninety-two, also upon
the persons who, being wipers (uniformed) in service as of June
thirtieth of such base fiscal year beginning on or after such July
first, may be actuarially expected to retire thereafter as wipers
(uniformed) or firefighters or fire marshals (uniformed) for service
with twenty or more years of service creditable toward the minimum
period.
(3) The liabilities determined in such valuation shall be equal to the
actuarial present value of accumulated plan benefits. The actuarial
assumptions used by the actuary in making such annual valuation of
liabilities, including assumptions as to interest rate, mortality of
pension fund beneficiaries and number of firefighters and fire marshals
(uniformed) in service as of June thirtieth who will retire for service
as firefighters or fire marshals (uniformed) with twenty or more years
of service creditable toward the minimum period, and, with respect to
the base fiscal years referred to in subparagraph (C) of paragraph two
of this subdivision, the number of wipers (uniformed) in service as of
the applicable June thirtieth who will retire for service as wipers
(uniformed) or firefighters or fire marshals (uniformed) with twenty or
more years of service creditable toward the minimum period, shall be
adopted by the board on the recommendation of the actuary.
(4) For the purposes of such annual valuation of the assets of the
variable supplements fund, such assets shall be valued at their fair
market value as of each such June thirtieth.
f. The fire commissioner shall assign to the board such number of
clerical and other assistants as may be necessary for the performance of
its functions.
Section 13-385
§ 13-385 Payment of supplemental benefits. a. (1) The variable
supplements fund shall pay variable supplements to pension fund
beneficiaries in accordance with the provisions of the succeeding
paragraphs of this subdivision a.
(2) Subject to the provisions of paragraphs three, four, six and seven
of this subdivision a, and the provisions of subparagraphs (i) and (ii)
of paragraph one of subdivision b of this section, for the period from
January first, nineteen hundred eighty-eight to December thirty-first,
nineteen hundred eighty-nine, variable supplements shall be payable
monthly for each month of eligibility therefor under the provisions of
this subchapter and the benefit plan and payment resolution as in effect
immediately prior to July first, nineteen hundred eighty-eight:
(i) to persons who, having retired on or before June thirtieth,
nineteen hundred eighty-eight, were or are pension fund beneficiaries
eligible for monthly payments with respect to such period from January
first, nineteen hundred eighty-eight to December thirty-first, nineteen
hundred eighty-nine, or a part thereof, under such applicable prior law,
benefit plan and resolution; and
(ii) to persons who, as of June thirtieth, nineteen hundred
eighty-eight, were in service as members of the fire department pension
fund subchapter two and who retired during the period from July first,
nineteen hundred eighty-eight to November thirtieth, nineteen hundred
eighty-nine so as to become pension fund beneficiaries who would be
entitled, if such prior law, plan and resolution were in effect for such
period, to receive monthly payments thereunder for such period from such
July first or a part thereof.
(3) The number of full calendar months in the calendar year nineteen
hundred eighty-eight for which each such pension fund beneficiary
referred to in paragraph two of this subdivision a is entitled to
receive monthly payments under such applicable prior law, plan and
resolution in accordance with the provisions of such paragraph two shall
be multiplied by one-twelfth of the sum of twenty-five hundred dollars.
(4) The total of the monthly amounts payable to each such pension fund
beneficiary for full calendar months in such calendar year under the
provisions of such paragraph two shall be subtracted from the applicable
product computed pursuant to paragraph three of this subdivision a.
(5) Subject to the provisions of subparagraphs (i) and (ii) of
paragraph one of subdivision b of this section, as soon as practicable
after the enactment of the chapter which added this paragraph five of
this subdivision a, the variable supplements fund shall pay to each such
eligible beneficiary referred to in paragraph two of this subdivision a,
an amount equal to the remainder resulting from the subtraction
prescribed by paragraph four of this subdivision, as applicable to such
pension fund beneficiary.
(6) The number of full calendar months in the calendar year nineteen
hundred eighty-nine for which each such pension fund beneficiary
referred to in paragraph two of this subdivision a is entitled to
receive monthly payments under such applicable prior law, plan and
resolution in accordance with the provisions of such paragraph two shall
be multiplied by one-twelfth of the sum of three thousand dollars.
(7) The total of the monthly amounts payable to each such pension fund
beneficiary for full calendar months in such calendar year under the
provisions of such paragraph two shall be subtracted from the applicable
product computed pursuant to paragraph six of this subdivision a.
(8) Subject to the provisions of subparagraphs (i) and (ii) of
paragraph one of subdivision b of this section, on or about December
fifteenth, nineteen hundred eighty-nine, the variable supplements fund
shall pay to each such eligible beneficiary referred to in paragraph two
of this subdivision a, an amount equal to the remainder resulting from
the subtraction prescribed by paragraph seven of this subdivision, as
applicable to such pension fund beneficiary.
(9) Nothing contained in the preceding paragraphs of this subdivision
a shall be construed as entitling any pension fund beneficiary therein
described to any payment for any month in which the retirement or death
of such pension fund beneficiary occurred or occurs.
(10) For calendar years succeeding December thirty-first, nineteen
hundred eighty-nine, the variable supplements fund, subject to the
provisions of subparagraphs (i) and (ii) of paragraph one of subdivision
b of this section, and subject to the provisions of paragraph thirteen
of this subdivision a, shall pay to each pension fund beneficiary who
retired prior to July first, nineteen hundred eighty-eight, variable
supplements payments as follows:
(i) for each calendar year following calendar year nineteen hundred
eighty-nine, but not including the calendar year of the beneficiary's
death, a single annual payment to be paid on or about December fifteenth
of such year, as follows:
CALENDAR SUPPLEMENT
YEAR
1990 $3,500
1991 $4,000
1992 $4,500
1993 $5,000
1994 $5,500
1995 $6,000
1996 $6,500
1997 $7,000
1998 $7,500
1999 $8,000
2000 $8,500
2001 $9,000
2002 $9,500
2003 $10,000
2004 $10,500
2005 $11,000
2006 $11,500
2007 and each calendar
year thereafter $12,000
(ii) for the calendar year of the beneficiary's death (for those
pension fund beneficiaries who die on or after February first, nineteen
hundred ninety), an amount calculated by multiplying one-twelfth times
the supplement applicable to the year of death, as provided in the chart
set forth in subparagraph (i) of this paragraph ten, by the number of
full calendar months the beneficiary lived during that calendar year
prior to the month of his or her death.
(11) For calendar years succeeding December thirty-first, nineteen
hundred eighty-nine, the variable supplements fund, subject to the
provisions of subparagraphs (i) and (ii) of paragraph one of subdivision
b of this section, and subject to the provisions of paragraph thirteen
of this subdivision a, shall pay to each person who, as of June
thirtieth, nineteen hundred eighty-eight, was in service as a member of
pension fund subchapter two and who retired for service thereafter so as
to become a pension fund beneficiary, variable supplements payments as
follows:
(i) for the calendar year of retirement (for those beneficiaries who
retire on or after January first, nineteen hundred ninety), an amount
calculated by multiplying one-twelfth times the supplement applicable to
the year of retirement, as provided for in the chart set forth in
subparagraph (i) of paragraph ten of this subdivision a, by the number
of calendar months elapsing from and including the month next following
the month of retirement to the end of such calendar year of retirement,
such payment to be made on or about December fifteenth of such year;
(ii) for each calendar year following the year of retirement, but not
including the calendar year of the beneficiary's death, a single annual
payment equal to the supplement provided for with respect to each such
calendar year as set forth in the chart in subparagraph (i) of such
paragraph ten, which payment shall be made on or about December
fifteenth of such year; and
(iii) for the calendar year of the beneficiary's death (for those
beneficiaries who die on or after February first, nineteen hundred
ninety), an amount calculated by multiplying one-twelfth times the
supplement applicable to the year of death, as provided for in the chart
set forth in subparagraph (i) of such paragraph ten, by the number of
full calendar months the beneficiary lived during that calendar year
prior to the month of his or her death.
(iv) If the retirement and death of a beneficiary occur in the same
calendar year, aggregate payments under subparagraphs (i) and (iii) of
this paragraph shall be made only in respect to calendar months
following the month of retirement and preceding the month of death.
(12) The variable supplements fund, subject to the provisions of
subparagraphs (i) and (iii) of paragraph one of subdivision b of this
section, and subject to the provisions of paragraph thirteen of this
subdivision a, shall pay to each person who becomes a member of pension
fund, subchapter two on or after July first, nineteen hundred
eighty-eight, and who retires for service so as to become a pension fund
beneficiary, variable supplements payments as follows:
(i) (A) subject to the provisions of subparagraph (iv) of this
paragraph, for the calendar year of retirement, where such retirement
occurs before January first, two thousand eight, an amount calculated by
multiplying one-twelfth times the sum of twenty-five hundred dollars by
the number of calendar months elapsing from and including the month next
following the month of retirement to the end of such calendar year of
retirement, such payment to be made on or about December fifteenth of
such year;
(B) subject to the provisions of subparagraph (iv) of this paragraph,
for the calendar year of retirement, where such retirement occurs on or
after January first, two thousand eight, an amount calculated by
multiplying one-twelfth times the sum of twelve thousand dollars by the
number of calendar months elapsing from and including the month next
following the month of retirement to the end of such calendar year of
retirement, such payment to be made on or about December fifteenth of
such year;
(ii) subject to the provisions of subparagraph (ii-a) of this
paragraph, for each calendar year following the year of retirement, but
not including the calendar year of the beneficiary's death, a single
annual payment to be paid on or about December fifteenth of such year,
as follows:
CALENDAR YEAR OF ANNIVERSARY OF
RETIREMENT (references hereinaf-
ter to "anniversary year" shall
mean calendar year of anniver-
sary) SUPPLEMENT
First anniversary year The sum of (1) a lower-based component
equal to one-twelfth of the base sum of
$2500 multiplied by the number of whole
calendar months from and including the
first month of such calendar year to
and including the month in which the
anniversary of the date of retirement
occurs, and (2) a higher-based
component equal to one-twelfth of the
base sum of $3000 multiplied by the
number of months remaining in such
calendar year
Second anniversary each year and The sum of a lower-based component and
each succeeding anniversary year a higher-based component computed pur-
to and including the nineteenth suant to the formula, above, for the
anniversary year first anniversary year, except that for
each such anniversary year succeeding
the first, (i) the lower-based
component shall be computed on a base
sum $500 higher than the base sum
required to be used in computing the
lower-based component for the next
preceding anniversary year and the
higher-based component shall be
computed on a base sum $500 higher than
the base sum required to be used in
computing the higher-based component
for such next preceding anniversary
year
Twentieth anniversary year and $12,000
each succeeding anniversary year
(ii-a) for each calendar year which occurs both after the year of
retirement and after December thirty-first, two thousand seven (but not
including the calendar year of the beneficiary's death), notwithstanding
any provision of subparagraph (ii) of this paragraph which otherwise
would be applicable, a single annual payment of twelve thousand dollars,
which payment (A) shall be in lieu of any other amount which otherwise
would be payable under subparagraph (ii) of this paragraph for such
calendar year and (B) shall be made on or about December fifteenth of
such year;
(iii) (A) for the calendar year of the beneficiary's death, where such
death occurs both after the year of retirement and prior to January
first, two thousand eight, an amount calculated in accordance with the
formula which would apply to the year of death under subparagraph (ii)
of this paragraph twelve if such death had not occurred, but prorated on
the basis of the number of full calendar months the beneficiary lived
during the year of death prior to the month of his or her death;
(B) for the calendar year of the beneficiary's death, where such death
occurs both after the year of retirement and in the calendar year two
thousand eight or thereafter, an amount calculated by multiplying
one-twelfth of twelve thousand dollars by the number of months the
beneficiary lived during the year of death prior to the month of his or
her death;
(iv) if the retirement and death of a beneficiary occur in the same
calendar year, aggregate payments under subparagraphs (i) and (iii) of
this paragraph shall be made only in respect to calendar months
following the month of retirement and preceding the month of death.
(13) (i) subject to the provisions of subparagraphs (ii), (iii), (iv)
and (v) of this paragraph thirteen, and the provisions of subparagraphs
(i) and (ii) of paragraph one of subdivision b of this section, for the
period from January first, nineteen hundred ninety-three to December
thirty-first, nineteen hundred ninety-three, variable supplements shall
be payable monthly (from the wiper variable supplements assets account)
for each month of eligibility therefor under the provisions of section
13-391.1 of this subchapter and the wipers (uniformed) benefit plan and
payment resolution as in effect immediately prior to January first,
nineteen hundred ninety-three:
(A) to persons who, having retired on or before January first,
nineteen hundred ninety-three, were or are pension fund beneficiaries
who both (1) qualify as such beneficiaries pursuant to paragraph (b) of
subdivision five of section 13-382 of this subchapter and (2) are
eligible for monthly payments with respect to such period from January
first, nineteen hundred ninety-three to December thirty-first, nineteen
hundred ninety-three, or a part thereof, under such applicable prior
law, benefit plan and resolution; and
(B) to persons who, as of December thirty-first, nineteen hundred
ninety-two, were in service as members of the fire department pension
fund subchapter two and who retired during the period from January
first, nineteen hundred ninety-three to November thirtieth, nineteen
hundred ninety-three, so as to become pension fund beneficiaries who
both (1) qualify as such beneficiaries pursuant to paragraph (b) of such
subdivision five and (2) would be entitled, if such prior law, plan and
resolution were in effect for such period, to receive monthly payments
thereunder for such period from such January first or a part thereof.
(ii) The number of full calendar months in the calendar year nineteen
hundred ninety-three for which each such pension fund beneficiary
referred to in subparagraph (i) of this paragraph thirteen is entitled
to receive monthly payments under such applicable prior law, plan and
resolution in accordance with the provisions of such subparagraph (i)
shall be multiplied by one-twelfth of the sum of five thousand dollars.
(iii) The total of the monthly amounts payable to each such pension
fund beneficiary for full calendar months in such calendar year under
the provisions of such subparagraph (i) shall be subtracted from the
applicable product computed pursuant to subparagraph (ii) of this
paragraph thirteen.
(iv) Subject to the provisions of subparagraphs (i) and (ii) of
paragraph one of subdivision b of this section, on or about December
fifteenth, nineteen hundred ninety-three, the variable supplements fund
shall pay to each such eligible beneficiary referred to in subparagraph
(i) of this paragraph thirteen, an amount equal to the remainder
resulting from the subtraction prescribed by subparagraph (iii) of this
paragraph, as applicable to such pension fund beneficiary.
(v) Nothing contained in the preceding subparagraphs of this paragraph
thirteen shall be construed as entitling any pension fund beneficiary
eligible to receive any payment thereunder to any payment for any month
in which the retirement or death of such pension fund beneficiary
occurred or occurs.
(vi) For calendar years succeeding December thirty-first, nineteen
hundred ninety-three, the variable supplements fund, subject to the
provisions of subparagraphs (i) and (ii) of paragraph one of subdivision
b of this section, shall pay to each pension fund beneficiary who both
(A) retired prior to January first, nineteen hundred ninety-four and (B)
qualifies as such a beneficiary pursuant to paragraph (b) of subdivision
five of section 13-382 of this subchapter, variable supplements payments
in accordance with the terms and conditions set forth in subparagraphs
(i) and (ii) of paragraph ten of this subdivision a, as applicable to
such calendar years.
(vii) For calendar years succeeding December thirty-first, nineteen
hundred ninety-three, the variable supplements fund, subject to the
provisions of subparagraphs (i) and (ii) of paragraph one of subdivision
b of this section, shall pay to each person who, as of June thirtieth,
nineteen hundred eighty-eight, was in service as a member of pension
fund subchapter two and who retired for service, on or after January
first, nineteen hundred ninety-four so as to become a pension fund
beneficiary who qualified as such a beneficiary pursuant to paragraph
(b) of subdivision five of section 13-382 of this subchapter, variable
supplements payments in accordance with the terms and conditions set
forth in subparagraphs (i), (ii), (iii) and (iv) of paragraph eleven of
this subdivision a, as applicable to such calendar years.
(viii) The variable supplements fund, subject to the provisions of
subparagraphs (i) and (iii) of paragraph one of subdivision b of this
section, shall pay to each person who becomes a member of pension fund,
subchapter two on or after July first, nineteen hundred eighty-eight,
and who retires for service so as to become a pension fund beneficiary
who qualified as such a beneficiary pursuant to paragraph (b) of
subdivision five of section 13-382 of this subchapter, variable
supplements payments in accordance with the terms and conditions set
forth in subparagraphs (i), (ii), (iii) and (iv) of paragraph twelve of
this subdivision.
(ix) Nothing contained in the preceding subparagraphs of this
paragraph shall be construed as providing for payment of variable
supplements for any period prior to January first, nineteen hundred
ninety-three. Nothing contained in the preceding paragraphs of this
subdivision a or in subdivision five of section 13-382 of this
subchapter shall be construed as entitling any person who retired or
retires as a wiper (uniformed) to payment of variable supplements under
this subdivision a for any period prior to January first, nineteen
hundred ninety-three.
b. (1) (i) Subject to the provisions of subparagraphs (ii), (iii) and
(iv) of this paragraph one, on or after July first, nineteen hundred
eighty-eight, where a pension fund beneficiary is entitled to receive
variable supplements payments pursuant to subdivision a of this section,
and that beneficiary is also entitled to receive a supplemental
retirement allowance or cost-of-living adjustment pursuant to any other
provision of law enacted on or after July first, nineteen hundred
eighty-eight (hereinafter referred to as "other supplemental retirement
allowance"), the amount of such variable supplement payable for a
calendar year or a part of such calendar year to such beneficiary shall
be reduced by the amount of such other supplemental retirement allowance
that is payable to such beneficiary to the extent that such other
supplemental retirement allowance is attributable to the same calendar
year or part of such calendar year.
(ii) For any pension fund beneficiary referred to in paragraph two or
paragraph ten or paragraph eleven of subdivision a of this section, or
in any of subparagraphs (i), (vi) and (vii) of paragraph thirteen of
such subdivision a, whose variable supplements payments are being
reduced pursuant to subparagraph (i) of this paragraph one because such
other supplemental retirement allowance is also payable to that
beneficiary, the reduction provided for in such subparagraph (i) shall
cease as to such beneficiary on the later of (A) the first day of the
month next following the month in which such beneficiary attains age
sixty-two; or (B) January first, two thousand seven.
(iii) For any pension fund beneficiary referred to in paragraph twelve
of subdivision a of this section, or in subparagraph (viii) of paragraph
thirteen of such subdivision, whose variable supplements payments are
being reduced pursuant to subparagraph (i) of this paragraph one because
such other supplemental retirement allowance is also payable to that
beneficiary, the reduction provided for in such subparagraph (i) shall
cease as to such beneficiary on the later of (A) the first day of the
month following the month in which such beneficiary attains age
sixty-two; or (B) the earlier of (1) the first day of the month next
following the month in which the nineteenth anniversary of the
retirement of such beneficiary occurs or (2) January first, two thousand
eight.
(iv) In any case where the reduction of variable supplements payments
to a pension fund beneficiary has ceased pursuant to subparagraph (ii)
or subparagraph (iii) of this paragraph one, that beneficiary, for the
purpose of determining his or her eligibility for and the amount of any
other supplemental retirement allowance, shall be deemed to have retired
on the date of the cessation of such reduction specified in the
applicable provisions of such subparagraph (ii) or subparagraph (iii).
(v) The payment of all variable supplements payable pursuant to
subdivision a of this section are hereby made obligations of the city,
and the city hereby guarantees that such supplements shall be paid to
all eligible pension fund beneficiaries.
(2) The legislature hereby declares that the variable supplements
authorized by this subchapter and the granting and receipt thereof:
(i) shall not create or constitute membership in a pension or
retirement system and shall not create or constitute a contract with any
pension fund beneficiary or with any member of pension fund subchapter
one or pension fund subchapter two; and
(ii) shall not constitute a pension or retirement allowance or benefit
under pension fund subchapter one or pension fund subchapter two or
otherwise.
(3) Except as otherwise provided in sections 13-335 and 13-335.1 of
this chapter and section 13-391.1 of this subchapter, nothing contained
in this subchapter shall create or impose any obligation on the part of
pension fund subchapter one or pension fund subchapter two or the funds
or monies thereof, or authorize such funds or monies to be appropriated
or used for any payment under this article or for any purpose thereof.
c. Pension fund beneficiaries shall be eligible to receive variable
supplements pursuant to this subchapter, notwithstanding any other
provision of law to the contrary.
d. The monies or assets of the variable supplements fund shall not be
used for any purpose, other than payment of variable supplements
pursuant to the provisions of this subchapter, except that they may be
invested as authorized by section 13-387 of this chapter.
e. Notwithstanding any inconsistent provision of this subchapter or
any benefit plan or payment resolution that was in effect prior to July
first, nineteen hundred eighty-eight, any original plan discontinued
member (as defined in subdivision sixteen of section 13-313 of this
chapter) or improved benefits plan discontinued member (as defined in
subdivision sixteen-d of such section) who discontinued service as a
firefighter on or after July first, nineteen hundred sixty-nine, but
prior to July nineteenth, nineteen hundred eighty-nine shall be deemed
to be a pension fund beneficiary for purposes of eligibility to receive
supplemental benefits under this section for any period of time for
which such discontinued member receives payments of a deferred
retirement allowance pursuant to section 13-360 or 13-361 of this
chapter, and the date of retirement of such discontinued member, for
purposes of applying the requirements of this section which determine
the eligibility of a pension fund beneficiary to receive supplemental
benefits under this section, shall be deemed to be the first day of the
period for which such discontinued member first began receiving payments
of a deferred retirement allowance pursuant to section 13-360 or 13-361
of this chapter.
f. For the purposes of paragraphs eleven and twelve of subdivision a
of this section, the date of entry into the police pension fund,
subchapter two shall be substituted for the date of entry into the fire
department pension fund, subchapter two in the event that a pension fund
beneficiary has transferred service credit from such police pension fund
pursuant to the provisions of section 15-111 of this code.
g. In addition to the payments set forth in paragraphs eleven and
twelve of subdivision a of this section, there shall be paid to each
pension fund beneficiary, on or about the December fifteenth next
succeeding his or her date of retirement, an amount equal to the
variable supplements payments, subject to the provisions of
subparagraphs (i) and (ii) of paragraph one of subdivision b of this
section, that he or she would have received, had he or she retired on
the date of his or her earliest eligibility for service retirement, in
the period measured from (1) the later of (i) such earliest eligibility
date and (ii) January 1, 2002, and (2) his or her date of retirement.
h. Notwithstanding any other provision of law to the contrary, where a
pension fund beneficiary has transferred credit from the New York city
employees' retirement system to the fire department pension fund,
subchapter two for service rendered in the uniformed force of the New
York city department of correction which immediately preceded service in
the uniformed force of the fire department, such pension fund
beneficiary shall, for the purposes of paragraphs eleven and twelve of
subdivision a of this section, have the earliest date of such
transferred uniformed correction service substituted for his or her date
of entry into the fire department pension fund, subchapter two.
Section 13-386
§ 13-386 Variable supplements fund; a corporation. The variable
supplements fund shall have the powers and privileges of a corporation
and by its name all of its business shall be transacted, all of its
funds invested, all warrants for money drawn and payments made, and all
of its cash and securities and other property held.
Section 13-387
§ 13-387 Trustees of funds; investments. a. The members of the board
shall be the trustees of the monies received by or belonging to the
variable supplements fund pursuant to this subchapter and, subject to
the provisions of subdivision b of this section, shall have full power
to invest same, subject to the terms, conditions, limitations and
restrictions imposed by law upon savings banks in the making and
disposing of investments by savings banks; and subject to like terms,
conditions, limitations and restrictions, such trustees shall have full
power to hold, purchase, sell, assign, transfer or dispose of any of the
securities or investments in which any of such monies shall have been
invested as well as of the proceeds of such investments and of any
monies belonging to such fund.
b. The members of the board shall have the same investment powers and
power to delegate such powers as are vested by the code and the
retirement and social security law in the members of the board of
trustees of the pension fund subchapter two.
Section 13-388
§ 13-388 Annual reports. The board shall publish annually in the City
Record a report for the preceding year showing the assets of the
variable supplements fund and a statement as to the accumulated cash and
securities of such fund as certified by the comptroller, and shall set
forth in such report such other facts, recommendations and data as the
board may deem pertinent.
Section 13-389
§ 13-389 Custodian of funds. The comptroller shall be custodian of the
monies and assets of the variable supplements fund. All such monies and
assets included in such fund or which shall hereafter accrue to such
fund shall be in his or her custody for the purposes of this subchapter
subject to the direction, control and approval of such board as to
disposition, investment, management and report. All payments from such
fund shall be made by the comptroller upon a voucher signed by the
secretary of the board.
Section 13-390
§ 13-390 Prohibitions with respect to trustees and employees. Except
as provided in this subchapter, the trustees and employees assigned to
the board are prohibited from having any interest, directly or
indirectly, in the gains or profits of any investment of the variable
supplements fund or as such, directly or indirectly, from receiving any
pay or emolument for their services. The trustees and such employees,
directly or indirectly, for themselves or as agents or partners of
others, shall not borrow any of its funds or deposits or in any manner
use the same except to make such current and necessary payments as are
authorized by such board.
Section 13-391
§ 13-391 State supervision. The superintendent of insurance may
examine the affairs of the variable supplements fund with the same
powers and jurisdiction as are applicable in the case of an examination
of a life insurance company by the superintendent under article three of
the insurance law. The variable supplements fund shall be subject to
assessment for expenses pursuant to the provisions of section three
hundred thirteen of the insurance law, but shall not be subject to
assessment under any of the provisions of section three hundred
thirty-two of such law.
Section 13-391.1
§ 13-391.1 Variable supplements for wipers for periods included in the
period beginning on July first, nineteen hundred eighty-eight and ending
on December thirty-first, nineteen hundred ninety-two. a. As used in
this section, the following terms shall mean and include:
1. "Wiper (uniformed)". A member of pension fund subchapter one or
pension fund subchapter two holding the position of wiper (uniformed).
2. "Minimum period". The minimum period of credited service which a
member of the fire department pension fund subchapter one or the fire
department pension fund subchapter two is required by law to perform in
order to be eligible to retire for service with immediate payability of
retirement allowance.
3. "Wiper pension fund beneficiary". Any person who receives a
retirement allowance by reason of having retired, on or after October
first, nineteen hundred sixty-eight, for service (with credit for twenty
or more years of service creditable toward the minimum period) as a
member of pension fund subchapter one or pension fund subchapter two and
as a wiper (uniformed).
4. "Board of Trustees". The board of trustees of the firefighters'
variable supplements fund established by section 13-384 of the code, as
such section would be in the absence of the enactment of the act which
added this section 13-391.1. Subdivisions c and d of such section, as it
would be in the absence of such enactment, shall govern the functioning
of such board for the purposes of this section.
5. "Wiper variable supplements assets account". (a) Subject to the
provisions of subdivision f of this section, a separate account of
assets which (i) shall be available as a source of payment of variable
supplements to wiper pension fund beneficiaries pursuant to the
provisions of this section and subparagraph (i) of paragraph thirteen of
subdivision a of section 13-385 of this subchapter, and (ii) shall
consist of the assets hereinafter designated in this paragraph as
included in such account and (iii) shall be separately maintained by the
firefighters' variable supplements fund (within the assets of such
fund), in the custody of the comptroller, for the benefit of wiper
pension fund beneficiaries.
(b) As of July first, nineteen hundred eighty-eight, there shall be
determined by the board of trustees, on the recommendation of the
actuary, the portion of the assets of the firefighters variable
supplements fund which is attributable to persons who are wipers
(uniformed) as of such July first and persons who are wiper pension fund
beneficiaries as of such July first.
(c) If the board of trustees is unable to make such determination by
the required majority vote, such dispute shall be resolved, on the basis
of the recommendation of the actuary, pursuant to the procedure set
forth in subdivision d of section 13-384 of this subchapter, as such
subdivision would be in the absence of the enactment of the act which
added this section 13-391.1.
(d) Upon the making of the determination provided for in subparagraphs
(b) and (c) of this paragraph five, the assets attributable to such
wipers and wiper pension fund beneficiaries, as so determined, shall be
credited by the firefighters' variable supplements fund to the wiper
variable supplements assets account.
(e) (i) For each base fiscal year included in the period beginning on
July first, nineteen hundred eighty-eight and ending on June thirtieth,
nineteen hundred ninety-two as to which the cumulative earnings factor,
as calculated pursuant to section 13-335.2 of this chapter is a positive
quantity, the amount of such factor shall be multiplied by a fraction,
the numerator of which shall be the total contributions made to pension
fund subchapter two with respect to such base fiscal year on behalf of
all members of the uniformed force of the fire department who are wipers
(uniformed), as of the last day of such base fiscal year, and the
denominator of which shall be the total contributions made to such
pension fund with respect to such base fiscal year on behalf of all
persons who are members of the uniformed force of the fire department as
of the last day of such base fiscal year.
(ii) On or before August thirty-first of the current fiscal year with
respect to such base fiscal year, pension fund subchapter two shall pay
an amount equal to the product of such multiplication into the wipers
variable supplements assets account.
b. Subject to the provisions of subdivision f of this section, with
respect to any period included in the period beginning on July first,
nineteen hundred eighty-eight and ending on December thirty-first,
nineteen hundred ninety-two, the entitlement of all wiper pension fund
beneficiaries to variable supplements shall be determined pursuant to
the provisions of this subchapter five (other than this section), as
such provisions would be in the absence of the enactment of chapter five
hundred eighty-three of the laws nineteen hundred eighty-nine and as
such provisions are modified by this section.
c. For the purpose of determining such entitlement, the provisions of
such subchapter (other than this section) shall be interpreted and
applied in the manner provided for in the succeeding subdivisions of
this section. For such purpose, a wiper pension fund beneficiary shall
be entitled to receive variable supplements only to the extent provided
for in this section.
d. For each month during the period from July first, nineteen hundred
eighty-eight to December thirty-first, nineteen hundred eighty-nine, the
firefighters' variable supplements fund shall pay to each wiper pension
fund beneficiary the monthly variable supplement for which such
beneficiary would be eligible under the provisions of this subchapter
and the benefit plan and payment resolution as in effect immediately
prior to July first, nineteen hundred eighty-eight.
e. Subject to the provisions of subdivision f of this section, for any
period included in the period beginning on January first, nineteen
hundred ninety and ending on December thirty-first, nineteen hundred
ninety-two, the granting of variable supplements to wiper pension fund
beneficiaries shall be governed by the provisions of sections 13-385 and
13-391 of this subchapter, as such provisions would be in the absence of
the enactment of chapter five hundred eighty-three of the laws of
nineteen hundred eighty-nine. For such purpose, the assets providing a
basis for a grant of variable supplements to wiper pension fund
beneficiaries shall be only the assets in the wipers variable
supplements assets account. For any period included in the period
beginning on January first, nineteen hundred ninety and ending on
December thirty-first, nineteen hundred ninety-two, variable supplements
may not be paid to a wiper pension fund beneficiary from any assets
other than assets of the wiper variable supplements asset account.
f. On January first, nineteen hundred ninety-four, the wiper variable
supplements asset account shall terminate and cease to exist and all
assets in such account on such date, and all rights to any moneys due
and owing to such account on such date, shall be transferred to and
become the property of the variable supplements fund.
g. Nothing contained in the preceding subdivisions of this section
shall be construed as preventing the application of the provisions of
this section for the purposes of, and in the manner and to the extent
prescribed by subparagraphs (i), (ii), (iii), (iv) and (v) of paragraph
thirteen of subdivision a of section 13-385 of this subchapter.
To the extent possible under law, Friends of Devin Balkind for Public Advocate has waived all copyright and related or neighboring rights to New York City Administrative Code. This work is published from: United States.
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