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a. If a lump sum which has been paid or which is payable under the provisions of the workers' compensation law equals or exceeds the present value of all amounts otherwise payable out of moneys provided or to be provided by the city under the provisions of this subchapter on account of the same disability of the same person, no payment shall be made to such person under the provisions of this subchapter. If such lump sum be a percentage less than one hundred per cent of the present value of all such amounts, there shall be paid as it becomes due under the provisions of this subchapter, in lieu of each amount otherwise payable, an amount equal to the percentage thereof which is the difference between such lesser per cent and one hundred per cent.
b. If an amount which is payable throughout a period under the provisions of the workers' compensation law equals or exceeds the amounts otherwise payable during the same period out of the moneys provided or to be provided by the city under the provisions of this article on account of the same disability of the same person, no payment shall be made to such person under the provisions of this subchapter during such period nor thereafter, until the total amount of such omitted payments, together with the regular interest which they would have accumulated, equals the amount paid under the workers' compensation law, together with the regular interest which it would have accumulated. If an amount which is payable throughout a period under the provisions of the workers' compensation law be a percentage less than one hundred per cent of the amounts otherwise payable during the same period out of moneys provided or to be provided by the city under the provisions of this subchapter on account of the same disability of the same person, there shall be paid during such period as it becomes due under the provisions of this subchapter, in lieu of each amount otherwise payable, the percentage thereof which is the difference between such lesser per cent and one hundred per cent.
c. No decision of the workers' compensation board shall be binding on the medical board or on the board in the determination of eligibility of a claimant for an accident disability or an accidental death benefit.
d. Notwithstanding any of the foregoing provisions of this section or any other law to the contrary, pending the final determination of a claim for workers' compensation benefits, the board may authorize payment of all or any part of the benefits which are payable under this subchapter and to which any of the foregoing provisions of this section apply, and in that event the pension fund shall be entitled to reimbursement out of the unpaid installment or installments of compensation due under the workers' compensation law provided that claim therefor is filed with the workers' compensation board, together with proof of the fact and amount of payment.
a. Until the first payment on account of any benefit is made, except pursuant to the provisions of section 13-261.2 of this subchapter, the beneficiary, or, if such beneficiary is an incompetent, then the husband or wife of such beneficiary, or, if there be no husband or wife, a committee of the estate, may elect to receive such benefit in a retirement allowance payable throughout life, or the beneficiary or the husband or wife or committee so electing may then elect to receive the actuarial equivalent at that time of his or her annuity, his or her pension, or his or her retirement allowance in a lesser annuity or a lesser pension or a lesser retirement allowance, payable throughout life with the provision that: Option 1. If he or she die before he or she has received in payments the present value of his or her annuity, his or her pension, or his or her retirement allowance, as it was at the time of his or her retirement, the balance shall be paid to his or her legal representatives or to such person as the beneficiary, or the husband or wife or committee so electing, has nominated or shall nominate by written designation duly acknowledged and filed with the board. Option 2. Upon his or her death, his or her annuity, his or her pension, or his or her retirement allowance, shall be continued throughout the life of and paid to such person as the beneficiary, or the husband or wife or committee so electing, has nominated or shall nominate by written designation duly acknowledged and filed with the board at the time of his or her retirement. Option 3. Upon his or her death, one-half of his or her annuity, his or her pension, or his or her retirement allowance, shall be continued throughout the life of and paid to such person as the beneficiary, or the husband or wife or committee so electing, has nominated or shall nominate by written designation duly acknowledged and filed with the board at the time of his or her retirement. Option 4. Upon his or her death, some other benefit or benefits shall be paid to such other person or persons as the beneficiary, or the husband or wife or committee so electing, has nominated or shall nominate, provided such other benefit or benefits, together with such lesser annuity, or lesser pension, or lesser retirement allowance, shall be certified by the actuary to be of equivalent actuarial value to his or her annuity, his or her pension or his or her retirement allowance, and shall be approved by such board.
b. For purposes of this section, the terms "pension" and "retirement allowance" shall be deemed to include the pension-providing-for-increased-take-home-pay, if any.
a. The board may by resolution direct that under such circumstances as are designated in such resolution, benefits under Option 1 which consist of or are derived from the pension component of a retirement allowance and which are payable to or on account of members who:
(1) became members prior to the date of enactment (as certified pursuant to section forty-one of the legislative law) of this section; and
(2) retired or retire, on or after August first, nineteen hundred eighty-three, for service or superannuation or for ordinary or accident disability, or on or after such August first, discontinued or discontinue service so as to become a discontinued member; shall be determined under the modified Option 1 pension computation formula (as defined in subdivision twenty-eight of section 13-214 of the code).
b. If the board makes a direction, pursuant to the provisions of subdivision a of this section, for use of such formula, it may also direct by resolution:
(1) that any member who is subject to the modified Option 1 pension computation formula may elect, at such time and in accordance with such procedures as are prescribed in such resolution, that such formula shall not apply to such member and that the initial reserve determined for the purpose of providing the benefits payable by reason of his or her selection of Option 1 and the pension component of his or her Option 1 allowance shall be determined on the basis of gender-neutral mortality tables and regular interest of seven per centum per annum, compounded annually; and
(2) that the benefit payable, upon the death of the member making such election, to his or her beneficiary or estate shall be the difference between such Option 1 initial reserve and the total of the payments of such pension component received by or payable to such member for the period prior to his or her death; and
(3) that where any member subject to the modified Option 1 pension computation formula retired before the effective date of the board resolution adopted pursuant to subdivision a of this section, and where the first payment on account of the retirement allowance of any discontinued member subject to such formula was made before the effective date of such resolution, such retiree or discontinued member, within such period of time after such effective date and in accordance with such procedures as are prescribed in such resolution, may elect the method of Option 1 benefit determination set forth in the preceding paragraphs of this subdivision b.
c. In any case, where, pursuant to board resolution, a benefit is required to be determined under the modified Option 1 pension computation formula and the determination of such benefit is also required by a board resolution adopted pursuant to sub-item (3) of item (A) of subparagraph (ii) of paragraph (g) of subdivision eight of section 13-214 of the code to reflect different computations of separate portions of such benefit, the methods of computation under the modified Option 1 pension computation formula shall be appropriately adjusted so as to give effect to the provisions of such resolution adopted pursuant to such sub-item (3).
a. If a member who is otherwise eligible for retirement pursuant to sections 13-251 and 13-252 of this subchapter dies within thirty days after the filing with the pension board of the application for retirement pursuant to section 13-251 or 13-252 of this subchapter and it is established that the physical or mental impairment or incapacitation of the applicant specified in such application was directly related to the cause of the applicant's death, such application shall be approved by the pension board effective one day before the date of the applicant's death, provided, however, that:
1. if a member is entitled to an ordinary disability retirement allowance under the provisions of this subchapter, the benefits provided pursuant to section 13-251 of this subchapter shall be payable unless the member would otherwise be entitled to a greater benefit pursuant to section 13-243 of this subchapter, in which event the greater benefit shall be payable; or
2. if a member is entitled to an accidental disability retirement allowance under the provisions of this subchapter, the benefits provided pursuant to section 13-252 of this subchapter shall be payable unless the member would otherwise be entitled to a greater benefit pursuant to section 13-244 of this subchapter, in which event the greater benefit shall be payable.
b. Notwithstanding any law to the contrary, for the purpose of electing an option pursuant to section 13-261 of this subchapter, the pension board shall notify the surviving spouse of any applicant described in subdivision a of this section, or, if no such spouse exists, the personal representative of the estate of such applicant of the right of election pursuant to said section 13-261 and such surviving spouse or personal representative of such estate may elect any such option within thirty days after receipt of such notice.
Notwithstanding any other provision of law to the contrary, no beneficiary shall be permitted to change any optional selection after it has become effective, provided, however, that if:
(a) a retired member nominates the spouse of such member as the survivor beneficiary under option two or three of section 13-261 of the code, or if a retired member nominates the spouse of such member under option four of such section to receive payment of an annual benefit as a survivor; and
(b) such person so nominated ceases by causes other than death to be his or her spouse or is divorced from or separated pursuant to a judicial decree from such spouse, then the board of trustees shall have the authority to permit the change of the optional benefit to the maximum benefit that is the actuarial equivalent by and with the consent of all parties.
(2) If he or she had not served the period of service elected by him or her or is under the minimum service retirement age elected by him or her, he or she shall again become a member of the pension system. Except as otherwise provided in paragraph three of this subdivision a, if he or she has served the minimum period of service elected by him or her or has attained the minimum service retirement age elected by him or her he or she may file a duly executed and acknowledged application therefor within ninety days after his or her return to service and thereupon again become a member of such fund.
(3) In the case of any such beneficiary who is appointed police commissioner or a deputy police commissioner, he or she shall again become a member of the pension system and shall remain such a member while serving as police commissioner or deputy police commissioner.
(4) The annuity reserve of any such member whose membership is restored as above provided in this section shall be transferred to his or her credit in the annuity savings fund, and he or she shall contribute to such fund as if he or she were a new entrant.
(5) Upon the subsequent retirement of any such member whose membership is so restored, he or she shall be credited with all his or her service as a member subsequent to his or her last restoration to membership, and shall receive a retirement allowance therefor as if he or she were a new entrant, payable in such form as he or she shall select under section 13-261 of this subchapter.
(6) In lieu of suspension during restoration to city-service of any benefits payable in the event of his or her death by reason of any optional selection in respect to his or her pension and the pension-providing-for-increased-take-home-pay, if any, a beneficiary may pay to the fund or funds from which his or her ordinary pension and his or her pension-providing-for-increased-take-home-pay, if any, were payable, the amount by which his or her ordinary pension and the pension-providing-for-increased-take-home-pay, if any, exceeded the optional pension and the pension-providing-for-increased-take-home-pay, if any, heretofore granted to him or her, in which event such optional benefit shall continue and be payable in the event of his or her death as though no payment were suspended.
(7) In addition, upon his or her subsequent retirement, he or she shall receive the pension and the pension-providing-for-increased-take-home-pay, if any, which he or she was receiving or entitled to receive immediately prior to his or her last restoration.
b. (1) Subject to the provisions of paragraph two of this subdivision, where any beneficiary mentioned in subdivision a of this section, other than a beneficiary serving as police commissioner or deputy police commissioner, shall have earned at least five years of member credit for service in the police force after restoration to active service, and where any beneficiary serving as police commissioner or deputy police commissioner shall have earned at least three years of member credit for service during restoration to membership pursuant to this section, the total service credit to which he or she was entitled at the time of his or her earlier retirement may, at his or her election, again be credited to him or her and upon his or her subsequent retirement he or she shall be credited in addition with all member service earned by him or her subsequent to his or her last restoration to membership.
(2) Such total service credit to which he or she was entitled at the time of his or her earlier retirement shall be credited as provided in paragraph one of this subdivision b only in the event that he or she returns to the pension fund with regular interest the actuarial equivalent of the amount of the retirement allowance he or she received; provided, however, that in the event that such amount is not so repaid, the actuarial equivalent thereof shall be deducted from his or her subsequent retirement allowance.
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