§ 13-691 Supplemental retirement allowances for certain closed pension funds retirees and other retirees.
a. A supplemental retirement allowance determined pursuant to this section shall be payable:
(1) to closed pension fund disability retirees who retired prior to April first, nineteen hundred seventy, commencing with a payment for the month of July, nineteen hundred eighty-one, and continuing thereafter; and
(2) to closed pension fund other-than-disability retirees who retire prior to April first, nineteen hundred seventy, commencing with a payment for the later of the month of July, nineteen hundred eighty-one or the month of July next following the twelve-month period ending June thirtieth in which such retiree shall have attained age sixty-two and continuing thereafter.
b. Such supplemental retirement allowance for those closed pension fund disability retirees and closed pension fund other-than-disability retirees who retired prior to January first, nineteen hundred sixty-eight shall include an amount computed by multiplying the base amount by a percentage determined on the basis of the consumer price index (all items-United States city average) published by the United States bureau of labor statistics.
c. (1) The percentage referred to in subdivision b of this section shall be determined as the ratio of two indexes, in the manner prescribed in this subdivision c.
(2) The average of the twelve monthly consumer price indexes of the calendar year nineteen hundred sixty-nine divided by the average of twelve monthly consumer price indexes of the calendar year of retirement, shall be the ratio of the indexes.
(3) Such ratio, minus one, shall be expressed as a percentage and shall be adjusted to the lower one-tenth of one percentum. Such adjusted percentage shall be the percentage of the base amount which is payable as a supplement included in a supplemental retirement allowance as provided for in subdivision b of this section. However, no such supplement shall be paid where such percentage is less than three percentum. Such percentage for a person who retired prior to October first, nineteen hundred fifty-seven shall be increased by one hundred percentum thereof and the adjusted percentage shall be further adjusted to the lower one-tenth of one percentum. Such percentage shall be computed by the actuary and certified to the comptroller who shall, by directive, promulgate a schedule of percentages by year of retirement to be used for this purpose.
d. (1) Commencing with a payment for the month of July, nineteen hundred eighty-one and continuing thereafter, there shall be payable:
(a) to each closed pension fund other-than-disability retiree who retired prior to January first, nineteen hundred sixty-eight and who is eligible to receive a supplemental retirement allowance under the provisions of subdivision a of this section; and
(b) to each closed pension fund disability retiree who retired prior to January first, nineteen hundred sixty-eight: a supplemental retirement allowance which shall consist of the sum of:
(i) the amount determined for such retiree pursuant to the provisions of subdivisions b and c of this section; and
(ii) the product obtained by multiplying the base amount for such retiree by the percentage thereof applicable to such retiree, as determined by the year of retirement in accordance with the schedule set forth in paragraph two of this subdivision d.
(2) The schedule referred to in paragraph one of this subdivision d is as follows:
Year of retirement Percentage
1967 twenty-three
1966 twenty-four
1965 twenty-four
1964 twenty-five
1963 twenty-five
1962 twenty-six
1961 twenty-six
1960 twenty-seven
1959 twenty-seven
1958 twenty-seven
1957 twenty-seven
1956 twenty-eight
1955 twenty-eight
1954 twenty-eight
1953 twenty-eight
1952 twenty-eight
1951 and earlier twenty-nine
(3) Commencing with a payment for the month of July, nineteen hundred eighty-one and continuing thereafter, there shall be payable:
(a) to each closed pension fund other-than-disability retiree who retired on or after January first, nineteen hundred sixty-eight and prior to April first, nineteen hundred seventy, and who is eligible to receive a supplemental retirement allowance under the provisions of subdivision a of this section; and
(b) to each closed pension fund disability retiree who retired on or after January first, nineteen hundred sixty-eight and prior to April first, nineteen hundred seventy; a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by the percentage thereof applicable to such retiree, as determined by the date of retirement in accordance with the schedule set forth in paragraph four of this subdivision d.
(4) The schedule referred to in paragraph three of this subdivision d is as follows:
Date of retirement Percentage
April 1, 1969 to and including March 31, 1970 twenty-one
January 1, 1968 to and including March 31, 1969 twenty-two
e. (1) Commencing with a payment for the month of July, nineteen hundred eighty-one and continuing thereafter, there shall be payable to each closed pension fund disability retiree who retired on or after April first, nineteen hundred seventy and before January first, nineteen hundred seventy-three, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by the percentage thereof applicable to such retiree, as determined by the date of retirement in accordance with the schedule set forth in paragraph three of this subdivision e.
(2) (a) Each closed pension fund other-than-disability retiree who retired on or after April first, nineteen hundred seventy and prior to January first, nineteen hundred seventy-three shall be entitled to receive, for the period provided for by subparagraph (b) of this paragraph two, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by the percentage thereof applicable to such retiree, as determined by the date of retirement in accordance with the schedule set forth in paragraph three of this subdivision e.
(b) Such supplemental retirement allowance referred to in subparagraph (a) of this paragraph two shall commence with a payment for the later of the month of July, nineteen hundred eighty-one or the month of July next following the twelve-month period ending June thirtieth in which such retiree shall have attained age sixty-two and shall continue thereafter.
(3) The schedule referred to in paragraphs one and two of this subdivision e is as follows:
Date of retirement Percentage
April 1, 1970 to and including December 31, 1971 eight
1972 calendar year seven
f. (1) Commencing with a payment for the month of July, nineteen hundred eighty-two and continuing thereafter, there shall be payable to each closed pension fund disability retiree who retired during the calendar year nineteen hundred seventy-three, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by six per centum.
(2) (a) Each closed pension fund other-than-disability retiree who retired during the calendar year nineteen hundred seventy-three shall be entitled to receive, for the period provided for by subparagraph (b) of this paragraph two, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by six per centum.
(b) Such supplemental retirement allowance referred to in subparagraph (a) of this paragraph two shall commence with a payment for the later of the month of July, nineteen hundred eighty-two or the month of July next following the twelve-month period ending June thirtieth in which such retiree shall have attained age sixty-two and shall continue thereafter.
g. (1) Commencing with a payment for the month of July, nineteen hundred eighty-three and continuing thereafter, there shall be payable to each closed pension fund disability retiree who retired on or after January first, nineteen hundred seventy-four and before January first, nineteen hundred seventy-seven, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by the percentage thereof applicable to such retiree, as determined by the date of retirement in accordance with the schedule set forth in paragraph three of this subdivision g.
(2) (a) Each closed pension fund other-than-disability retiree who retired on or after January first, nineteen hundred seventy-four and prior to January first, nineteen hundred seventy-seven shall be entitled to receive, for the period provided for by subparagraph (b) of this paragraph two, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by the percentage thereof applicable to such retiree, as determined by the date of retirement in accordance with the schedule set forth in paragraph three of this subdivision g.
(b) Such supplemental retirement allowance referred to in subparagraph (a) of this paragraph two shall commence with a payment for the later of the month of July, nineteen hundred eighty-three or the month of July next following the twelve-month period ending June thirtieth in which such retiree shall have attained age sixty-two and shall continue thereafter.
(3) The schedule referred to in paragraphs one and two of this subdivision g is as follows:
Date of retirement Percentage
1974 calendar year five
1975 calendar year four
1976 calendar year three
h. (1) Commencing with a payment for the month of July, nineteen hundred eighty-four and continuing thereafter, there shall be payable to each closed pension fund disability retiree who retired on or after January first, nineteen hundred seventy-seven and before January first, nineteen hundred seventy-nine, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by three per centum.
(2) (a) Each closed pension fund other-than-disability retiree who retired on or after January first, nineteen hundred seventy-seven and prior to January first, nineteen hundred seventy-nine shall be entitled to receive, for the period provided for by subparagraph (b) of this paragraph two, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by the percentage thereof applicable to such retiree, as determined by the date of retirement in accordance with the schedule set forth in paragraph three of this subdivision h.
(b) Such supplemental retirement allowance referred to in subparagraph (a) of this paragraph two shall commence with a payment for the later of the month of July, nineteen hundred eighty-four or the month of July next following the twelve-month period ending June thirtieth in which such retiree shall have obtained age sixty-two and shall continue thereafter.
i. (1) Commencing with a payment for the month of July, nineteen hundred eighty-five and continuing thereafter, there shall be payable to each closed pension fund disability retiree who retired during the calendar year nineteen hundred seventy-nine, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by three per centum.
(2) (a) Each closed pension fund other-than-disability retiree who retired during the calendar year nineteen hundred seventy-nine shall be entitled to receive, for the period provided for by subparagraph (b) of this paragraph two, a supplemental retirement allowance equal to the product obtained by multiplying the base amount for such retiree by three per centum.
(b) Such supplemental retirement allowance referred to in subparagraph (a) of this paragraph two, shall commence with a payment for the later of the month of July, nineteen hundred eighty-five or the month of July next following the twelve-month period ending June thirtieth in which such retiree shall have attained age sixty-two and shall continue thereafter.
k. The supplemental retirement allowance shall be rounded off to the nearest dollar.
l. The supplemental retirement allowance hereinabove provided for any such closed pension fund disability retiree or closed pension fund other-than-disability retiree shall be in lieu of any supplemental retirement allowance for such retiree provided by article one or article two of this subchapter or any other existing law or law hereafter enacted, unless such other supplemental retirement allowance is in excess of that provided for by this article seven, in which latter case such other supplemental retirement allowance shall be paid and no supplemental retirement allowance shall be paid under this article seven.
