Terms Used In New York Laws > Retirement and Social Security > Article 14 - Coordinated-escalator Retirement Plan

• Active service: shall mean service while being paid on the payroll of a participating employer. See N.Y. Retirement and Social Security Law 501
• Cost-of-living index: shall mean the consumer price index (all items--United States city averages) published by the United States bureau of labor statistics. See N.Y. Retirement and Social Security Law 501
• Credited service: shall mean all service which has been credited to a member pursuant to section five hundred thirteen or which was credited to such member in a public retirement system of the state before such member became subject to this article and which is allowable as previous service pursuant to section five hundred thirteen. See N.Y. Retirement and Social Security Law 501
• Early retirement age: shall mean age fifty-five, for general members, and the age on which a member completes or would have completed twenty years of service, for police/fire members, New York city uniformed correction/sanitation revised plan members and investigator revised plan members. See N.Y. Retirement and Social Security Law 501
• Elective member: shall mean a member who is not subject to the provisions of this article on a mandatory basis. See N.Y. Retirement and Social Security Law 501
• eligible beneficiary: shall mean such person as the member shall have nominated to receive the benefits provided in this article. See N.Y. Retirement and Social Security Law 501
• Excess contributions: shall mean any contributions (and interest thereon) made by a member prior to becoming subject to this article which, if not withdrawn, would have been used to purchase an additional annuity at retirement had the member continued in the plan of which he was a member before becoming subject to this article. See N.Y. Retirement and Social Security Law 501
• Federal social security benefit computation period: shall mean a member's benefit computation years as determined pursuant to section 215 (b) of the federal social security act. See N.Y. Retirement and Social Security Law 501
• Federal social security primary insurance amount: shall mean the primary insurance amount as defined in section 215 (a) (1) (A) of the federal social security act. See N.Y. Retirement and Social Security Law 501
• Federal social security program: shall mean the federal old age and survivor's assistance program under the federal social security act. See N.Y. Retirement and Social Security Law 501
• General member: shall mean a member subject to the provisions of this article who is not a police/fire member, a New York city uniformed correction/sanitation revised plan member or an investigator revised plan member. See N.Y. Retirement and Social Security Law 501
• Head of the retirement system: shall mean the comptroller, with respect to the state employees' retirement system and the state and local police and fire retirement system, and the retirement board of the other public retirement systems of the state. See N.Y. Retirement and Social Security Law 501
• In service: shall mean any period during which a member is on the payroll of a public employer, in the service upon which membership is based, and any period during which the member was not on the payroll if he or she; (a) was on the payroll and paid within the previous twelve months, (b) had not been gainfully employed since ceasing to be on such payroll, (c) had credit for at least one year of continuous service since last entering or reentering the service of the public employer and (d) was not eligible for or receiving a service retirement or disability benefit. See N.Y. Retirement and Social Security Law 501
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Intestate: Dying without leaving a will.
• Investigator revised plan member: shall mean an investigator member of the New York city employees' retirement system who is a police officer as defined in paragraph (g) of subdivision thirty-four of § 1. See N.Y. Retirement and Social Security Law 501
• Mandatory retirement age: shall mean age seventy, for general members, and age sixty-two, for police/fire members. See N.Y. Retirement and Social Security Law 501
• Member: shall mean any person included in the membership of a public retirement system of this state as provided in section five hundred of this article. See N.Y. Retirement and Social Security Law 501
• New York city enhanced plan member: shall mean (a) a New York city police/fire revised plan member who becomes subject to the provisions of this article on or after June fifteenth, two thousand sixteen and who is a member of the New York city fire department pension fund, (b) a police/fire member who is a member of the New York city fire department pension fund and who makes an election, which shall be irrevocable and shall be duly executed and filed with the administrative head of such pension fund no later than one hundred twenty days after the effective date of this subdivision, to be subject to the provisions of this article related to New York city enhanced plan members, (c) a New York city police/fire revised plan member who became subject to the provisions of this article before June fifteenth, two thousand sixteen, who is a member of the New York city fire department pension fund, and who makes an election, which shall be irrevocable and shall be duly executed and filed with the administrative head of such pension fund no later than one hundred twenty days after the effective date of this subdivision, to be subject to the provisions of this article related to New York city enhanced plan members, (d) a New York city police/fire revised plan member who becomes subject to the provisions of this article on or after April first, two thousand seventeen and who is a member of the New York city police pension fund, (e) a police/fire member who is a member of the New York city police pension fund and who makes an election, which shall be irrevocable and shall be duly executed and filed with the administrative head of such pension fund no later than one hundred twenty days after the effective date of the chapter of the laws of two thousand seventeen which amended this subdivision, to be subject to the provisions of this article related to New York city enhanced plan members, or (f) a New York city police/fire revised plan member who became subject to the provisions of this article before April first, two thousand seventeen, who is a member of the New York city police pension fund, and who makes an election, which shall be irrevocable and shall be duly executed and filed with the administrative head of such pension fund no later than one hundred twenty days after the effective date of the chapter of the laws of two thousand seventeen which amended this subdivision, to be subject to the provisions of this article related to New York city enhanced plan members. See N.Y. Retirement and Social Security Law 501
• overtime ceiling: shall mean fifteen thousand dollars per annum on January first, two thousand ten, and shall be increased by three percent each year thereafter, provided, however, that for members who first become members of the New York state and local employees' retirement system on or after April first, two thousand twelve, "overtime ceiling" shall mean fifteen thousand dollars per annum on April first, two thousand twelve, and shall be increased each year thereafter by a percentage to be determined annually by reference to the consumer price index (all urban consumers, CPI-U, U. See N.Y. Retirement and Social Security Law 501
• Overtime compensation: shall mean , for purposes of this section, compensation paid under any law or policy under which employees are paid at a rate greater than their standard rate for additional hours worked beyond those required, including compensation paid under § 134 of the civil service law and § 90 of the general municipal law. See N.Y. Retirement and Social Security Law 501
• Participating employer: shall mean a public employer who is participating in a public retirement system of the state. See N.Y. Retirement and Social Security Law 501
• Primary social security disability benefit: shall mean the benefit payable to a disabled covered employee under the federal social security program, exclusive of any family benefits, calculated as provided in subdivision c of section five hundred eleven. See N.Y. Retirement and Social Security Law 501
• Primary social security retirement benefit: shall mean the benefit payable to a covered employee, at age sixty-two or later, under the federal social security program, exclusive of any family benefits, calculated as provided in subdivision c of section five hundred eleven. See N.Y. Retirement and Social Security Law 501
• Public employer: shall mean an employer who is eligible to participate in a public retirement system of the state. See N.Y. Retirement and Social Security Law 501
• Public retirement system of the state: shall mean the New York state employees' retirement system, New York state and local police and fire retirement system, New York state teacher's retirement system, New York city employees' retirement system, New York city teacher's retirement system, New York city police pension fund, New York city fire department pension fund and the New York city board of education retirement system. See N.Y. Retirement and Social Security Law 501
• Wages: shall mean regular compensation earned by and paid to a member by a public employer, except that for members who first join the state and local employees' retirement system on or after January first, two thousand ten, overtime compensation paid in any year in excess of the overtime ceiling, as defined by this subdivision, shall not be included in the definition of wages. See N.Y. Retirement and Social Security Law 501