§ 370-a. Pensions-for-increased-take-home-pay. a. Beginning with a\npayroll period commencing as specified by a participating employer\nelecting to contribute pursuant to the provisions of this section the\ncontribution of each member of the police and fire retirement system in\nthe employ of such a participating employer, exclusive of any increase\nthereof pursuant to subdivision i of section three hundred twenty-one of\nthis chapter or of any reduction thereof pursuant to subdivision one of\nsection one hundred thirty-eight-b of article three of this chapter,\nshall be reduced by five per centum of the compensation of such member.\nBeginning with a payroll period commencing as specified by a\nparticipating employer, specifically electing, as provided in\nsubdivision c of this section, to contribute at the higher rate pursuant\nto the provisions of this section the contribution of each member of the\nretirement system in the employ of such a participating employer,\nexclusive of any increase thereof pursuant to subdivision i of section\ntwenty-one of this chapter or of any reduction thereof pursuant to\nsubdivision one of section one hundred thirty-eight-b of this chapter,\nshall be reduced by an additional three per centum of the compensation\nof such member. Where a member's rate of contribution as so qualified is\nless than the per centum by which his contribution is reduced, such rate\nshall be discontinued. Such a reduction or discontinuance, as the case\nmay be, shall:\n 1. Be subject to waiver by the member as provided in subdivision j of\nsection three hundred twenty-one of this article, as added by this act,\nand\n 2. Take precedence over the member's privilege under subdivision one\nof section one hundred thirty-eight-b of article three of this chapter,\nto decrease his annuity contribution for the purpose of paying his\ncontributions for old-age, survivors, and disability insurance coverage\nof the tax imposed upon him pursuant to the federal insurance\ncontributions act.\n aa. Beginning with a payroll period commencing on or after such date,\nas specified by a participating employer electing to contribute pursuant\nto the provisions of this subdivision, the contribution of each member\nof the retirement system in the employ of such a participating employer,\nwhose rate of contribution is in excess of eight per centum, exclusive\nof any increase thereof pursuant to subdivision i of section three\nhundred twenty-one of this chapter or of any reduction thereof pursuant\nto subdivision one of section one hundred thirty-eight-b of this chapter\nor subdivision a of this section, shall be suspended. In the case of a\nparticipating employer any member may by written notice duly\nacknowledged and filed with the comptroller beginning with the payroll\nperiod commencing on or after such date as specified by a participating\nemployer within one year after the effective date of this act or within\none year after he last became a member, whichever is later, elect to\nwaive the suspension of his contributions provided by this subdivision.\nOne year or more after the filing thereof, a member may withdraw any\nsuch waiver by written notice duly acknowledged and filed with the\ncomptroller. Where a member makes an election to waive the suspension of\nhis contributions as herein provided, he shall contribute to the\nretirement system as otherwise provided in this chapter. The foregoing\nprovisions of this subdivision shall be inapplicable as to any\nparticipating employers other than those who had filed a resolution\nprior to April first, nineteen hundred sixty-seven, to participate\nthereunder.\n b. For such period of time as the provisions of subdivision a and\nsubdivision aa of this section shall be in effect, contributions shall\nbe made to the pension accumulation fund by or on account of the state\nand each such participating employer, as provided in sections three\nhundred sixteen, three hundred seventeen and three hundre
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