384-E - Additional pension benefit for members of optional twenty year retirement plan. - New York Statutes

§ 384-e. Additional pension benefit for members of optional twenty year retirement plan. a. A participating employer which has elected, or which elects, pursuant to section three hundred thirty or three hundred thirty-one of this article, to provide the benefits of the optional twenty year retirement plan for its employees as specified in section three hundred eighty-four-d of this article may elect, pursuant to section three hundred thirty-three of this article, to make contributions for the purpose of providing an additional pension pursuant to this section for members in its employ who are entitled to a pension pursuant to section three hundred eighty-four-d of this article. b. Upon retirement, each such member shall receive, for each year of service in excess of twenty, an additional pension which shall be equal to one-sixtieth of his or her final average salary; a participating employer may elect to provide any service credit earned with a public employer prior to service performed as a police officer or firefighter; provided, however, that the total allowance payable pursuant to this section shall not exceed three-quarters of such member's final average salary. c. A demand in collective negotiations for the additional pension benefit provided by this section shall not be subject to the provisions of paragraph (b) or (c) of subdivision four of section two hundred nine of the civil service law.