a. The retirement board shall perform such other functions as are required for the execution of the provisions of this chapter.
b. (1) In addition to the powers conferred upon it by any other provision of law, the board of trustees shall on or before April first of each year, establish a budget sufficient to fulfill the powers, duties and responsibilities set forth in this chapter and any other provision of law which sets forth the benefits of members of the retirement system. Said budget shall also include the respective amounts deposited in the expense fund in accordance with the provisions of subdivision k of section 13-570 of this chapter and subdivision b of section 13-582 of this chapter. The board of trustees shall, if necessary, draw upon the assets of the retirement system to fund the portion of such budget which is not derived from subdivision k of section 13-570 of this chapter and subdivision b of section 13-582 of this chapter provided, that such action shall be subject to the provisions of paragraphs two, three, four and five of this subdivision and subdivisions c and d of this section. The provisions of this section shall not be applicable to the payment of investment expenses pursuant to section 13-705 of the code and nothing contained herein shall be construed as abolishing, limiting, or modifying any power of the board of trustees to provide for the payment of investment expenses pursuant to section 13-705 of the code.
(2) If an expense budget has not been adopted by the commencement of the new fiscal year, the expense budget for the preceding fiscal year shall be deemed to have been extended for the new fiscal year until such time as a new expense budget is adopted.
(3) Any budget in effect pursuant to paragraphs one or two of this subdivision b shall be modifiable during such succeeding fiscal year.
(4) Notwithstanding any other provision of law, the board of trustees shall have the power either directly or by delegation to the executive director, to obtain by employment or by contract the goods, property and services necessary to fulfill its powers within the appropriation authorized by the board of trustees pursuant to paragraph one of this subdivision.
(5) The provisions of chapter seventeen of the charter shall continue to apply to the retirement system and the retirement system shall constitute an agency for the purposes of such chapter seventeen. The board of trustees shall not obtain any legal services by the retention of employees or by contract unless the corporation counsel shall consent thereto.
(6) All contracts for goods or services entered into by the retirement system shall be procured as prescribed in chapter thirteen of the charter; provided, however, that where the provisions of such chapter thirteen require action by the mayor in regard to a particular procurement (except for mayoral action pursuant to subdivision c of section three hundred thirty-four of the charter) such action shall not be taken by the mayor or such appointee of the mayor but shall be taken by the board of trustees or the executive director pursuant to a resolution adopted by the board of trustees delegating such authority to the executive director.
c. Employment by the retirement system shall constitute city-service for the purposes of chapter one of this title; provided, however, that nothing contained herein shall be construed as granting membership rights in the New York city employees' retirement system to a contractor of the retirement system or such contractor's employees. Employees of the retirement system shall be deemed employees of the city of New York for the purposes of of the charter and title twelve of the code.
d. In the event that the assets of the retirement system are drawn upon pursuant to the provisions of paragraph one of subdivision b of this section all monies so withdrawn shall be made a charge to be paid by each participating employer otherwise required to make contributions to the retirement system no later than the end of the fiscal year next succeeding the time period during which such assets were drawn upon, provided, however, that where such charge is for assets so withdrawn in fiscal year two thousand four-two thousand five or in any fiscal year thereafter, such charge shall be paid by each such participating employer no later than the end of the second fiscal year succeeding the time period during which such assets were drawn upon. The actuary shall calculate and allocate to each such participating employer its share of such charge by multiplying such charge by a fraction, the numerator of which shall consist of the total salaries of the employees of each participating employer as of the June thirtieth succeeding the withdrawal of assets and the denominator of which shall consist of the total salaries of members of the retirement system as of such June thirtieth. All charges to be paid pursuant to this subdivision shall be paid at the regular rate of interest utilized by the actuary in determining employer contributions to the retirement system pursuant to the provisions of paragraph two of subdivision b of section 13-638.2 of the code.