New York Retirement and Social Security Code § 517

Member contributions
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§ 517. Member contributions. * a. Members shall contribute three\npercent of annual wages to the retirement system in which they have\nmembership, provided that such contributions shall not be required for\nmore than thirty years, for general members, or twenty-five years, for\npolice/fire members, except that beginning April first, two thousand\nthirteen for members who first become members of the New York state and\nlocal employees' retirement system on or after April first, two thousand\ntwelve, the rate at which each such member shall contribute in any\ncurrent plan year (April first to March thirty-first) shall be\ndetermined by reference to the wages of such member in the second plan\nyear (April first to March thirty-first) preceding such current plan\nyear as follows:\n  1. members with wages of forty-five thousand dollars per annum or less\nshall contribute three per centum of annual wages;\n  2. members with wages greater than forty-five thousand per annum, but\nnot more than fifty-five thousand per annum shall contribute three and\none-half per centum of annual wages;\n  3. members with wages greater than fifty-five thousand per annum, but\nnot more than seventy-five thousand per annum shall contribute four and\none-half per centum of annual wages;\n  4. members with wages greater than seventy-five thousand per annum but\nnot more than one hundred thousand per annum shall contribute five and\nthree-quarters per centum of annual wages; and\n  5. members with wages greater than one hundred thousand per annum\nshall contribute six per centum of annual wages.\n  Notwithstanding the foregoing, during each of the first three plan\nyears (April first to March thirty-first) in which such member has\nestablished membership in the New York state and local employees'\nretirement system, such member shall contribute a percentage of annual\nwages in accordance with the preceding schedule based upon a projection\nof annual wages provided by the employer. Notwithstanding the foregoing,\nwhen determining the rate at which each such member who became a member\nof the New York state and local employees' retirement system on or after\nApril first, two thousand twelve shall contribute for any plan year\n(April first to March thirty-first) between April first, two thousand\ntwenty-two and April first, two thousand twenty-six, such rate shall be\ndetermined by reference to employees annual base wages of such member in\nthe second plan year (April first to March thirty-first) preceding such\ncurrent plan year. Base wages shall include regular pay, shift\ndifferential pay, location pay, and any increased hiring rate pay, but\nshall not include any overtime payments.\n  The head of each retirement system shall promulgate such regulations\nas may be necessary and appropriate with respect to the deduction of\nsuch contribution from members' wages and for the maintenance of any\nspecial fund or funds with respect to amounts so contributed.\n  * NB Effective until October 1, 2026\n  * a. Members shall contribute three percent of annual wages to the\nretirement system in which they have membership, provided that such\ncontributions shall not be required for more than thirty years, for\ngeneral members, or twenty-five years, for police/fire members, except\nthat beginning April first, two thousand thirteen for members who first\nbecome members of the New York state and local employees' retirement\nsystem on or after April first, two thousand twelve, the rate at which\neach such member shall contribute in any current plan year (April first\nto March thirty-first) shall be determined by reference to the wages of\nsuch member in the second plan year (April first to March thirty-first)\npreceding such current plan year as follows:\n  1. members with wages of forty-five thousand dollars per annum or less\nshall contribute three per centum of annual wages;\n  2. members with wages greater than forty-five thousand dollars per\nannum, but not more than f

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