§ 70-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 retirement system in the employ of\nsuch a participating employer, exclusive of any increase thereof\npursuant to subdivision i of section twenty-one of this chapter or of\nany reduction thereof pursuant to subdivision one of section one hundred\nthirty-eight-b of this chapter, shall be reduced by five per centum of\nthe compensation of such member. Beginning with a payroll period\ncommencing as specified by a participating employer specifically\nelecting, as provided in subdivision c of this section, to contribute at\nthe higher rate pursuant to the provisions of this section the\ncontribution of each member of the retirement system in the employ of\nsuch a participating employer, exclusive of any increase thereof\npursuant to subdivision i of section twenty-one of this chapter or of\nany reduction thereof pursuant to subdivision one of section one hundred\nthirty-eight-b of this chapter, shall be reduced by an additional three\nper centum of the compensation of such member. Where a member's rate of\ncontribution as so qualified is less than the per centum by which his\ncontribution is reduced, such rate shall be discontinued. Such a\nreduction or discontinuance, as the case may be, shall:\n 1. Be subject to waiver by the member as provided in subdivision j of\nsection twenty-one of this article, as added by this act, and\n 2. Take precedence over the member's privilege under subdivision one\nof section one hundred thirty-eight-b of this chapter, as amended by\nthis act, to decrease his annuity contribution for the purpose of paying\nhis contributions for old-age, survivors, and disability insurance\ncoverage or the tax imposed upon him pursuant to the federal insurance\ncontribution 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 twenty-one\nof this chapter or of any reduction thereof pursuant to subdivision one\nof section one hundred thirty-eight-b of this chapter or subdivision a\nof this section, shall be suspended. In the case of a participating\nemployer any member may by written notice duly acknowledged and filed\nwith the comptroller beginning with the payroll period commencing on or\nafter such date as specified by a participating employer within one year\nafter the effective date of this act or within one year after he last\nbecame a member, whichever is later, elect to waive the suspension of\nhis contribution provided by this subdivision. One year or more after\nthe filing thereof a member may withdraw any such waiver by written\nnotice duly acknowledged and filed with the comptroller. Where a member\nmakes an election to waive the suspension of his contributions as herein\nprovided, he shall contribute to the retirement system as otherwise\nprovided in this chapter.\n However, commencing with the payroll period the first day of which is\nnearest to July first, nineteen hundred sixty-six, the foregoing\nprovisions of subdivision aa shall be inapplicable as to any\nparticipating employers other than those who had filed a resolution\nprior to the effective date of this act to participate thereunder.\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 sixteen,\nseventeen and for
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