Legislation

§ 6252. Rates of contribution. * 1. Employer contributions. In the
case of any electing employee initially appointed on or before June
thirtieth, nineteen hundred ninety-two, the city shall, during
continuance of his employment, makes contributions at the rate of nine
percentum of that portion of his city salary upon which contributions
are or may hereafter be paid to the secretary of the treasury of the
United States pursuant to article three of the retirement and social
security law and at the rate of twelve percentum of that portion of his
city salary above said amount, out of monies which shall be appropriated
to the city university for such purposes. In the case of any electing
employee initially appointed on or after July first, nineteen hundred
ninety-two, the city shall, during continuance of his employment, make
contributions at the rate of eight percentum of his city salary during
the first seven years of such employment and at the rate of ten
percentum of his city salary, thereafter, out of monies which shall be
appropriated to the city university for such purpose. For purposes of
this subdivision, that portion of the employee's salary upon which
contributions are or may thereafter be paid to the secretary of the
treasury of the United States pursuant to article three of the
retirement and social security law shall be deemed not to exceed sixteen
thousand five hundred dollars.

* NB Effective until October 1, 2026

* 1. Employer contributions. In the case of any electing employee
initially appointed on or before June thirtieth, nineteen hundred
ninety-two, the city shall, during continuance of their employment,
makes contributions at the rate of nine percentum of that portion of
their city salary upon which contributions are or may hereafter be paid
to the secretary of the treasury of the United States pursuant to
article three of the retirement and social security law and at the rate
of twelve percentum of that portion of their city salary above said
amount, out of monies which shall be appropriated to the city university
for such purposes. In the case of any electing employee initially
appointed on or after July first, nineteen hundred ninety-two, the city
shall, during continuance of their employment, make contributions at the
rate of eight percentum of their city salary during the first seven
years of such employment and at the rate of ten percentum of their city
salary, thereafter, out of monies which shall be appropriated to the
city university for such purpose, provided however, that effective
October first, two thousand twenty-six, in the case of any electing
employee initially appointed on or after April first, two thousand
twelve, the city shall, during continuance of their employment, make
contributions at the rate of nine percentum of their salary during the
first seven years of such employment and at the rate of eleven percentum
of their salary thereafter, out of monies which shall be appropriated to
the city university for such purpose. For purposes of this subdivision,
that portion of the employee's salary upon which contributions are or
may thereafter be paid to the secretary of the treasury of the United
States pursuant to article three of the retirement and social security
law shall be deemed not to exceed sixteen thousand five hundred dollars.

* NB Effective October 1, 2026

2. Employee contributions. (a) In the case of any electing employee,
contributions at the rate of three percentum of his city salary shall be
deducted as the employee contribution by the comptroller, provided
however that such employee contribution shall be made by the city in
accordance with subdivision one of this section during such period as
either section seventy-a of the retirement and social security law or
section B3-36.1 or section B20-41.1 of the administrative code of the
city of New York provides that the contribution of any member of the New
York city employees' retirement system or the New York city teachers'
retirement system in the employ of the city shall be reduced by at least
eight percentum of his compensation; and provided further, however, that
such employee contribution with respect to the fiscal year of the city
beginning on July first, nineteen hundred seventy-two and ending on June
thirtieth, nineteen hundred seventy-three shall be made by the city,
notwithstanding any of the foregoing provisions of this subdivision to
the contrary.

(b) Notwithstanding any provision of paragraph (a) of this subdivision
or any other provision of law to the contrary, but subject to the
provisions of subdivision d of section six hundred thirteen of the
retirement and social security law in the case of any electing employee
initially appointed on or after July first, nineteen hundred ninety-two,
contributions at the rate of three percentum of his or her city salary
shall be deducted as the employee contribution by the comptroller.

(c) Notwithstanding any other provision of this section or any other
law to the contrary, (1) on and after April first, two thousand eight
for a member who joined the optional retirement program established
pursuant to this article before April first, two thousand twelve and who
has ten or more years of membership in such optional retirement program,
the city shall contribute one-third of the three percent employee
contribution required pursuant to the provisions of this section on
behalf of such employee; and (2) on and after April first, two thousand
nine for a member who joined the optional retirement program established
pursuant to this article before April first, two thousand twelve and who
has ten or more years of membership in such optional retirement program,
the city shall contribute two-thirds of the three percent employee
contribution required pursuant to the provisions of this section on
behalf of such employee; and (3) on and after April first, two thousand
ten for a member who joined the optional retirement program established
pursuant to this article before April first, two thousand twelve and who
has ten or more years of membership in such optional retirement program,
the city shall contribute the three percent employee contribution
required pursuant to the provisions of this section on behalf of such
employee. The provisions of this paragraph shall not apply to any
electing employee who becomes a member of the optional retirement
program on or after April first, two thousand twelve.

* (d) Notwithstanding any other law to the contrary, beginning April
first, two thousand thirteen any electing employee appointed on or after
April first, two thousand twelve, the rate at which each such employee
shall contribute in any current plan year (January first to December
thirty-first) shall be determined by reference to the wages of such
member in the second plan year (January first to December thirty-first)
preceding such current plan year as follows:

(1) members with wages of forty-five thousand dollars per annum or
less shall contribute three per centum of annual wages;

(2) members with wages greater than forty-five thousand per annum, but
not more than fifty-five thousand per annum shall contribute three and
one-half per centum of annual wages;

(3) members with wages greater than fifty-five thousand per annum, but
not more than seventy-five thousand per annum shall contribute four and
one-half per centum of annual wages;

(4) members with wages greater than seventy-five thousand per annum
but not more than one hundred thousand per annum shall contribute five
and three-quarters per centum of annual wages; and

(5) members with wages greater than one hundred thousand per annum
shall contribute six per centum of annual wages.

Notwithstanding the foregoing, during each of the first three plan
years (January first to December thirty-first) in which such member has
established membership in the Board of Higher Education Optional
Retirement Program, such employee shall contribute a percent of annual
wages in accordance with the preceding schedule based upon a projection
of annual wages provided by the employer.

* NB Effective until October 1, 2026

* (d) Notwithstanding any other law to the contrary, beginning April
first, two thousand thirteen any electing employee appointed on or after
April first, two thousand twelve, the rate at which each such employee
shall contribute in any current plan year (January first to December
thirty-first) shall be determined by reference to the wages of such
member in the second plan year (January first to December thirty-first)
preceding such current plan year as follows:

(1) members with wages of forty-five thousand dollars per annum or
less shall contribute three per centum of annual wages;

(2) members with wages greater than forty-five thousand dollars per
annum, but not more than fifty-five thousand dollars per annum shall
contribute three and one-half per centum of annual wages;

(3) members with wages greater than fifty-five thousand dollars per
annum, but not more than seventy-five thousand dollars per annum shall
contribute four and one-half per centum of annual wages;

(4) members with wages greater than seventy-five thousand dollars per
annum but not more than one hundred thousand dollars per annum shall
contribute five and three-quarters per centum of annual wages; and

(5) members with wages greater than one hundred thousand dollars per
annum shall contribute six per centum of annual wages.

Notwithstanding the foregoing, during each of the first three plan
years (January first to December thirty-first) in which such member has
established membership in the Board of Higher Education Optional
Retirement Program, such employee shall contribute a percent of annual
wages in accordance with the preceding schedule based upon a projection
of annual wages provided by the employer, provided, however, that
notwithstanding any other law to the contrary, on and after October
first, two thousand twenty-six, the rate at which any electing employee
who is subject to this paragraph shall contribute in any current plan
year (January first to December thirty-first) shall be determined by
reference to the wages of such member in the second plan year (January
first to December thirty-first) preceding such current plan year as
follows:

(i) members with wages of seventy-five thousand dollars per annum or
less shall contribute three per centum of annual wages;

(ii) members with wages greater than seventy-five thousand dollars per
annum but not more than one hundred thousand dollars per annum shall
contribute four per centum of annual wages;

(iii) members with wages greater than one hundred thousand dollars per
annum but not more than one hundred twenty-five thousand dollars per
annum shall contribute five and one-quarter per centum of annual wages;
and

(iv) members with wages greater than one hundred twenty-five thousand
dollars per annum shall contribute five and three-quarters per centum of
annual wages.

* NB Effective October 1, 2026

3. Payment of contributions pursuant to subdivisions one and two of
this section shall be made to the designated insurer or insurers upon
audit and warrant of the comptroller.

4. In the case of an electing employee initially appointed on or after
the effective date of the election to offer such programs established by
the board, no contributions pursuant to subdivisions one and two of this
section shall be made by the city until his completion of one year of
service and continuance in service thereafter. Employee contributions,
if any, required during this initial year of service shall be deducted
and held by the comptroller. At the end of his initial year of service,
a single contribution in an amount determined pursuant to subdivisions
one and two of this section, with interest at the rate of four percentum
per annum, shall be made, upon audit and warrant of the comptroller, to
the designated insurer or insurers, on behalf of such employee continued
in service. In the case of an electing employee who does not continue in
service with the board beyond his initial year of service, the amount of
employee contribution, if any, deducted from his salary shall be
refunded to him, with interest at the rate of four percentum per annum.

5. The provisions of subdivision four of this section shall not apply
to any electing employee who, at the time of initial appointment, owns a
contract determined by the board to be similar to those contracts to be
purchased under the optional retirement program and issued by the
designated insurer or insurers.