§ 1323. Additional member contributions. Upon election by the city of New York, the retirement system shall require additional member contributions to be paid by all eligible employees. The additional member contributions to be paid by eligible employees shall be of a level so that no additional contributions shall be paid by the city of New York to cover the cost of such additional benefits. Additional member contributions made pursuant to this section shall be in addition to member contributions paid pursuant to other provisions of this chapter.

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Terms Used In N.Y. Retirement and Social Security Law 1323

  • Retirement system: shall mean the New York city employees' retirement system, the New York city teachers' retirement system, and the New York city board of education retirement system. See N.Y. Retirement and Social Security Law 1320