62-5 SPD:62/5 SPD.qxd - NYCERS

SUMMARY PLAN DESCRIPTION - 62/5 TIER 4 MEMBERS VERSION APRIL 2012meet certain eligibility requirements may receive retirement benefits based on such DualEmployment.A member may earn service credit from two or more concurrently held part-time positions. However,a member may not earn a greater amount of service credit in any period of time than heor she could have earned during that same period from one full-time position.The earnings from two or more concurrently held part-time positions may be combined for thepurpose of calculating the compensation base to be used in computing benefits. This combinedcompensation cannot exceed the amount of compensation that could have been earned fromone full-time position during that period.The earnings from one full-time position may be combined with the earnings from a concurrentlyheld part-time position for the purpose of calculating the compensation base to be usedin computing benefits.Combining earnings is only possible where a member has held either two or more part-timepositions in City service or a full-time position and a part-time position concurrently for a totalof at least nine months in each of 10 consecutive years.Under certain circumstances, a retiree may receive a post-retirement refund of membercontributions attributable to a Dual Employment position. This occurs where the retiree did notreceive service credit for that position, and the earnings from that position did not figure into thecomputation of his or her retirement benefit.LR: Chapter 749 of the Laws of 1992SR: NYC Administrative Code §13-638.4 subdivision fCREDITED SERVICEWWW.NYCERS.ORG17