State Codes and Statutes

Statutes > New-york > Rss > Article-4 > 163

§   163.  Computation  of  supplemental  pensions.    1.  The  monthly  supplemental pension to be paid to a state  retired  employee  shall  be  computed by    (a)  multiplying  by  forty  (or  forty-three and two-fifths in a case  where a retired employee may under this act receive a maximum retirement  allowance  or  pension,  computed  without  optional  modification,   of  thirteen  hundred  and  two  dollars) the number of years, not exceeding  thirty, of allowable  and  credited  service  on  which  his  retirement  allowance or pension is based,    (b)   subtracting  therefrom  the  amount  of  his  annual  retirement  allowance or pension, computed without optional modification, and    (c) dividing the results so obtained by twelve.    2. In no event shall the monthly supplemental pension paid to a  state  retired employee exceed    (a)  twenty-five  dollars,  or thirty-three dollars and fifty cents in  any case where the maximum under paragraph (b) of  this  subdivision  is  one hundred eight dollars and fifty cents, or    (b)  an  amount which, when added to an amount equal to one-twelfth of  his annual retirement allowance or pension,  computed  without  optional  modification, exceeds    (1) the sum of one hundred dollars, or    (2)  one hundred eight dollars and fifty cents, in the case of a state  retired  employee  who  attained  age  sixty-five  before  April  first,  nineteen  hundred  fifty-six,  or  who attains such age on or after such  date, beginning with the month of April nineteen hundred  fifty-six,  if  he  is  then  sixty-five  years  of  age  or  beginning  with  the month  thereafter during which he attains age sixty-five, or who  is  a  female  person  who  attained age sixty-two before April first, nineteen hundred  fifty-seven, or who attains such age on or after  such  date,  beginning  with  the  month  of  April nineteen hundred fifty-seven, if she is then  sixty-two years of age or beginning with  the  month  thereafter  during  which  she  attains  age sixty-two, or is retired for disability, either  before or after attaining age fifty, and who attained  such  age  before  April first, nineteen hundred fifty-seven, or who attains such age on or  after  such  date,  beginning  with  the month of April nineteen hundred  fifty-seven, if he is then fifty years of  age  or  beginning  with  the  month thereafter during which he attains age fifty, or    (3)  one hundred eight dollars and fifty cents, in the case of a local  retired employee, where the municipality shall have  provided  by  local  law,  ordinance  or  resolution  for  payments  up to such sum for local  retired employees  who  attained  age  sixty-five  before  April  first,  nineteen  hundred  fifty-six,  or  who  attain such age on or after such  date, beginning with  the  month  when  such  local  law,  ordinance  or  resolution  shall  become  effective,  if such local retired employee is  then sixty-five years of age or  beginning  with  the  month  thereafter  during  which  he  attains age sixty-five, or who are female persons who  attained age sixty-two before April first, nineteen hundred fifty-seven,  or who attain such age on or after such date, beginning with  the  month  when  such local law, ordinance or resolution shall become effective, if  such local retired employee is then sixty-two years of age or  beginning  with the month thereafter during which she attains age sixty-two, or who  are  retired for disability, either before or after attaining age fifty,  and  who  attained  age  fifty  before  April  first,  nineteen  hundred  fifty-seven,  or  who  attain  such age on or after such date, beginning  with the month when such local law, ordinance or resolution shall become  effective, if such local retired employee is then fifty years of age  or  beginning with the month thereafter during which she attains age fifty.3.  Except as otherwise provided by or pursuant to subdivision five or  subdivision six of this section, the monthly supplemental pension to  be  paid  to  a  state retired teacher shall be twenty-five dollars plus the  amount, if any, by which one-twelfth of his annual retirement allowance,  computed  without  optional modification, is less than fifty dollars. In  no event shall the monthly supplemental pension paid to a state  retired  teacher  exceed  an  amount  which,  when  added  to  an amount equal to  one-twelfth  of  his  annual  retirement  allowance,  computed   without  optional modification, exceeds the sum of one hundred dollars.    4.  For  the  purposes  of  this section, in determining the number of  years of allowable and credited service, a  major  fraction  of  a  year  shall be counted as a full year.    5.  Notwithstanding  any  other  provision  of  this act but except as  otherwise provided by or pursuant to  subdivision  six  and  subdivision  seven of this section, any state retired teacher who    (a)  attained  age  sixty-five  before  April  first, nineteen hundred  fifty-six, or who attains such age on or after  such  date  and  who  is  receiving  or  is entitled to receive a supplemental pension pursuant to  this act on or after such date shall, beginning with the month of April,  nineteen hundred fifty-six, if he is then sixty-five  years  of  age  or  beginning  with  the  month  thereafter  during  which  he  attains  age  sixty-five, or    (b) is a female person who attained age sixty-two before April  first,  nineteen  hundred  fifty-seven, or who attains such age on or after such  date and who is receiving or entitled to receive a supplemental  pension  pursuant  to  this  act  on or after such date shall, beginning with the  month of April, nineteen hundred fifty-seven, if she is  then  sixty-two  years  of  age  or  beginning with the month thereafter during which she  attains age sixty-two, or    (c) is retired for disability, either before or  after  attaining  age  fifty,  and  who  attained such age before April first, nineteen hundred  fifty-seven, or who attains such age on or after such date  and  who  is  receiving or entitled to receive a supplemental pension pursuant to this  act  on  or  after  such  date shall, beginning with the month of April,  nineteen hundred fifty-seven, if he  is  then  fifty  years  of  age  or  beginning  with  the month thereafter during which he attains age fifty,  receive a monthly supplemental pension in an amount which when added  to  his  monthly  retirement allowance or pension, computed without optional  modification, including any modification due to additional contributions  as authorized by subdivision three of section five  hundred  sixteen  of  the  education law shall be equal to one hundred eight dollars and fifty  cents;  provided,  however,  that  this  subdivision  shall  not  become  operative  in  the  case  of  a local retired teacher unless and until a  local  law,  ordinance  or  resolution   authorizing   such   additional  supplemental  pension  payments  for such a person or persons shall have  become effective.  receive a monthly supplemental pension in an amount which when added  to  his  monthly  retirement allowance or pension, computed without optional  modification, shall be equal to one  hundred  eight  dollars  and  fifty  cents;  provided,  however,  that  this  subdivision  shall  not  become  operative in the case of a local retired  teacher  unless  and  until  a  local   law,   ordinance   or  resolution  authorizing  such  additional  supplemental pension payments for such a person or  persons  shall  have  become effective.    6. Notwithstanding any other provision of this act except as otherwise  provided  by  or  pursuant  to  subdivision seven of this section, (a) a  state retired teacher, having retired  prior  to  July  first,  nineteen  hundred  sixty-one,  who  is  not receiving the primary benefit obtainedunder the federal old-age, survivors, and disability  insurance  system,  shall  receive,  beginning with the month of September, nineteen hundred  sixty-five, a monthly supplemental pension in an amount which when added  to  his  monthly  retirement  allowance  or  pension,  computed  without  optional modification,  shall  be  equal  to  two  hundred  dollars  and  beginning  with  the  month  of  September,  nineteen hundred seventy, a  monthly supplemental pension in an  amount  which,  when  added  to  his  monthly  retirement  allowance  or  pension,  computed  without optional  modification, shall be equal to two hundred twenty-five dollars, or  (b)  a  state  retired  teacher, having retired prior to July first, nineteen  hundred sixty-one, who is receiving the primary benefit  obtained  under  the  federal  old-age, survivors, and disability insurance system, shall  receive, beginning with the month of April, nineteen hundred sixty-five,  a monthly supplemental pension in an amount which,  when  added  to  his  monthly  retirement allowance or pension, without optional modification,  shall be equal to one hundred seventy-five dollars;  provided,  however,  that  this subdivision shall not become operative in the case of a local  retired teacher unless and until a local law,  ordinance  or  resolution  authorizing  such  additional  supplemental  pension payments for such a  person or persons shall have become effective, and further provided that  nothing herein contained shall be construed to  reduce  any  pension  or  retirement  allowance,  or  supplemental  pension  being received by any  retired teacher prior to April first, nineteen  hundred  sixty-five.  As  used  in  this  subdivision  the  term  "optional modification" includes  modification due to additional contributions authorized  by  subdivision  three of section five hundred sixteen of the education law.    7.  For  persons retiring after June thirtieth, nineteen hundred sixty  and prior to the effective date of this chapter, and who  are  otherwise  eligible for supplementation under provisions of this act, a retroactive  payment  for  supplemental  pensions  shall  be  made, as if chapter one  thousand forty of the laws  of  nineteen  hundred  sixty  had  not  been  enacted,  covering  the  period  between  the date of retirement and the  effective date of this chapter.

State Codes and Statutes

Statutes > New-york > Rss > Article-4 > 163

§   163.  Computation  of  supplemental  pensions.    1.  The  monthly  supplemental pension to be paid to a state  retired  employee  shall  be  computed by    (a)  multiplying  by  forty  (or  forty-three and two-fifths in a case  where a retired employee may under this act receive a maximum retirement  allowance  or  pension,  computed  without  optional  modification,   of  thirteen  hundred  and  two  dollars) the number of years, not exceeding  thirty, of allowable  and  credited  service  on  which  his  retirement  allowance or pension is based,    (b)   subtracting  therefrom  the  amount  of  his  annual  retirement  allowance or pension, computed without optional modification, and    (c) dividing the results so obtained by twelve.    2. In no event shall the monthly supplemental pension paid to a  state  retired employee exceed    (a)  twenty-five  dollars,  or thirty-three dollars and fifty cents in  any case where the maximum under paragraph (b) of  this  subdivision  is  one hundred eight dollars and fifty cents, or    (b)  an  amount which, when added to an amount equal to one-twelfth of  his annual retirement allowance or pension,  computed  without  optional  modification, exceeds    (1) the sum of one hundred dollars, or    (2)  one hundred eight dollars and fifty cents, in the case of a state  retired  employee  who  attained  age  sixty-five  before  April  first,  nineteen  hundred  fifty-six,  or  who attains such age on or after such  date, beginning with the month of April nineteen hundred  fifty-six,  if  he  is  then  sixty-five  years  of  age  or  beginning  with  the month  thereafter during which he attains age sixty-five, or who  is  a  female  person  who  attained age sixty-two before April first, nineteen hundred  fifty-seven, or who attains such age on or after  such  date,  beginning  with  the  month  of  April nineteen hundred fifty-seven, if she is then  sixty-two years of age or beginning with  the  month  thereafter  during  which  she  attains  age sixty-two, or is retired for disability, either  before or after attaining age fifty, and who attained  such  age  before  April first, nineteen hundred fifty-seven, or who attains such age on or  after  such  date,  beginning  with  the month of April nineteen hundred  fifty-seven, if he is then fifty years of  age  or  beginning  with  the  month thereafter during which he attains age fifty, or    (3)  one hundred eight dollars and fifty cents, in the case of a local  retired employee, where the municipality shall have  provided  by  local  law,  ordinance  or  resolution  for  payments  up to such sum for local  retired employees  who  attained  age  sixty-five  before  April  first,  nineteen  hundred  fifty-six,  or  who  attain such age on or after such  date, beginning with  the  month  when  such  local  law,  ordinance  or  resolution  shall  become  effective,  if such local retired employee is  then sixty-five years of age or  beginning  with  the  month  thereafter  during  which  he  attains age sixty-five, or who are female persons who  attained age sixty-two before April first, nineteen hundred fifty-seven,  or who attain such age on or after such date, beginning with  the  month  when  such local law, ordinance or resolution shall become effective, if  such local retired employee is then sixty-two years of age or  beginning  with the month thereafter during which she attains age sixty-two, or who  are  retired for disability, either before or after attaining age fifty,  and  who  attained  age  fifty  before  April  first,  nineteen  hundred  fifty-seven,  or  who  attain  such age on or after such date, beginning  with the month when such local law, ordinance or resolution shall become  effective, if such local retired employee is then fifty years of age  or  beginning with the month thereafter during which she attains age fifty.3.  Except as otherwise provided by or pursuant to subdivision five or  subdivision six of this section, the monthly supplemental pension to  be  paid  to  a  state retired teacher shall be twenty-five dollars plus the  amount, if any, by which one-twelfth of his annual retirement allowance,  computed  without  optional modification, is less than fifty dollars. In  no event shall the monthly supplemental pension paid to a state  retired  teacher  exceed  an  amount  which,  when  added  to  an amount equal to  one-twelfth  of  his  annual  retirement  allowance,  computed   without  optional modification, exceeds the sum of one hundred dollars.    4.  For  the  purposes  of  this section, in determining the number of  years of allowable and credited service, a  major  fraction  of  a  year  shall be counted as a full year.    5.  Notwithstanding  any  other  provision  of  this act but except as  otherwise provided by or pursuant to  subdivision  six  and  subdivision  seven of this section, any state retired teacher who    (a)  attained  age  sixty-five  before  April  first, nineteen hundred  fifty-six, or who attains such age on or after  such  date  and  who  is  receiving  or  is entitled to receive a supplemental pension pursuant to  this act on or after such date shall, beginning with the month of April,  nineteen hundred fifty-six, if he is then sixty-five  years  of  age  or  beginning  with  the  month  thereafter  during  which  he  attains  age  sixty-five, or    (b) is a female person who attained age sixty-two before April  first,  nineteen  hundred  fifty-seven, or who attains such age on or after such  date and who is receiving or entitled to receive a supplemental  pension  pursuant  to  this  act  on or after such date shall, beginning with the  month of April, nineteen hundred fifty-seven, if she is  then  sixty-two  years  of  age  or  beginning with the month thereafter during which she  attains age sixty-two, or    (c) is retired for disability, either before or  after  attaining  age  fifty,  and  who  attained such age before April first, nineteen hundred  fifty-seven, or who attains such age on or after such date  and  who  is  receiving or entitled to receive a supplemental pension pursuant to this  act  on  or  after  such  date shall, beginning with the month of April,  nineteen hundred fifty-seven, if he  is  then  fifty  years  of  age  or  beginning  with  the month thereafter during which he attains age fifty,  receive a monthly supplemental pension in an amount which when added  to  his  monthly  retirement allowance or pension, computed without optional  modification, including any modification due to additional contributions  as authorized by subdivision three of section five  hundred  sixteen  of  the  education law shall be equal to one hundred eight dollars and fifty  cents;  provided,  however,  that  this  subdivision  shall  not  become  operative  in  the  case  of  a local retired teacher unless and until a  local  law,  ordinance  or  resolution   authorizing   such   additional  supplemental  pension  payments  for such a person or persons shall have  become effective.  receive a monthly supplemental pension in an amount which when added  to  his  monthly  retirement allowance or pension, computed without optional  modification, shall be equal to one  hundred  eight  dollars  and  fifty  cents;  provided,  however,  that  this  subdivision  shall  not  become  operative in the case of a local retired  teacher  unless  and  until  a  local   law,   ordinance   or  resolution  authorizing  such  additional  supplemental pension payments for such a person or  persons  shall  have  become effective.    6. Notwithstanding any other provision of this act except as otherwise  provided  by  or  pursuant  to  subdivision seven of this section, (a) a  state retired teacher, having retired  prior  to  July  first,  nineteen  hundred  sixty-one,  who  is  not receiving the primary benefit obtainedunder the federal old-age, survivors, and disability  insurance  system,  shall  receive,  beginning with the month of September, nineteen hundred  sixty-five, a monthly supplemental pension in an amount which when added  to  his  monthly  retirement  allowance  or  pension,  computed  without  optional modification,  shall  be  equal  to  two  hundred  dollars  and  beginning  with  the  month  of  September,  nineteen hundred seventy, a  monthly supplemental pension in an  amount  which,  when  added  to  his  monthly  retirement  allowance  or  pension,  computed  without optional  modification, shall be equal to two hundred twenty-five dollars, or  (b)  a  state  retired  teacher, having retired prior to July first, nineteen  hundred sixty-one, who is receiving the primary benefit  obtained  under  the  federal  old-age, survivors, and disability insurance system, shall  receive, beginning with the month of April, nineteen hundred sixty-five,  a monthly supplemental pension in an amount which,  when  added  to  his  monthly  retirement allowance or pension, without optional modification,  shall be equal to one hundred seventy-five dollars;  provided,  however,  that  this subdivision shall not become operative in the case of a local  retired teacher unless and until a local law,  ordinance  or  resolution  authorizing  such  additional  supplemental  pension payments for such a  person or persons shall have become effective, and further provided that  nothing herein contained shall be construed to  reduce  any  pension  or  retirement  allowance,  or  supplemental  pension  being received by any  retired teacher prior to April first, nineteen  hundred  sixty-five.  As  used  in  this  subdivision  the  term  "optional modification" includes  modification due to additional contributions authorized  by  subdivision  three of section five hundred sixteen of the education law.    7.  For  persons retiring after June thirtieth, nineteen hundred sixty  and prior to the effective date of this chapter, and who  are  otherwise  eligible for supplementation under provisions of this act, a retroactive  payment  for  supplemental  pensions  shall  be  made, as if chapter one  thousand forty of the laws  of  nineteen  hundred  sixty  had  not  been  enacted,  covering  the  period  between  the date of retirement and the  effective date of this chapter.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Rss > Article-4 > 163

§   163.  Computation  of  supplemental  pensions.    1.  The  monthly  supplemental pension to be paid to a state  retired  employee  shall  be  computed by    (a)  multiplying  by  forty  (or  forty-three and two-fifths in a case  where a retired employee may under this act receive a maximum retirement  allowance  or  pension,  computed  without  optional  modification,   of  thirteen  hundred  and  two  dollars) the number of years, not exceeding  thirty, of allowable  and  credited  service  on  which  his  retirement  allowance or pension is based,    (b)   subtracting  therefrom  the  amount  of  his  annual  retirement  allowance or pension, computed without optional modification, and    (c) dividing the results so obtained by twelve.    2. In no event shall the monthly supplemental pension paid to a  state  retired employee exceed    (a)  twenty-five  dollars,  or thirty-three dollars and fifty cents in  any case where the maximum under paragraph (b) of  this  subdivision  is  one hundred eight dollars and fifty cents, or    (b)  an  amount which, when added to an amount equal to one-twelfth of  his annual retirement allowance or pension,  computed  without  optional  modification, exceeds    (1) the sum of one hundred dollars, or    (2)  one hundred eight dollars and fifty cents, in the case of a state  retired  employee  who  attained  age  sixty-five  before  April  first,  nineteen  hundred  fifty-six,  or  who attains such age on or after such  date, beginning with the month of April nineteen hundred  fifty-six,  if  he  is  then  sixty-five  years  of  age  or  beginning  with  the month  thereafter during which he attains age sixty-five, or who  is  a  female  person  who  attained age sixty-two before April first, nineteen hundred  fifty-seven, or who attains such age on or after  such  date,  beginning  with  the  month  of  April nineteen hundred fifty-seven, if she is then  sixty-two years of age or beginning with  the  month  thereafter  during  which  she  attains  age sixty-two, or is retired for disability, either  before or after attaining age fifty, and who attained  such  age  before  April first, nineteen hundred fifty-seven, or who attains such age on or  after  such  date,  beginning  with  the month of April nineteen hundred  fifty-seven, if he is then fifty years of  age  or  beginning  with  the  month thereafter during which he attains age fifty, or    (3)  one hundred eight dollars and fifty cents, in the case of a local  retired employee, where the municipality shall have  provided  by  local  law,  ordinance  or  resolution  for  payments  up to such sum for local  retired employees  who  attained  age  sixty-five  before  April  first,  nineteen  hundred  fifty-six,  or  who  attain such age on or after such  date, beginning with  the  month  when  such  local  law,  ordinance  or  resolution  shall  become  effective,  if such local retired employee is  then sixty-five years of age or  beginning  with  the  month  thereafter  during  which  he  attains age sixty-five, or who are female persons who  attained age sixty-two before April first, nineteen hundred fifty-seven,  or who attain such age on or after such date, beginning with  the  month  when  such local law, ordinance or resolution shall become effective, if  such local retired employee is then sixty-two years of age or  beginning  with the month thereafter during which she attains age sixty-two, or who  are  retired for disability, either before or after attaining age fifty,  and  who  attained  age  fifty  before  April  first,  nineteen  hundred  fifty-seven,  or  who  attain  such age on or after such date, beginning  with the month when such local law, ordinance or resolution shall become  effective, if such local retired employee is then fifty years of age  or  beginning with the month thereafter during which she attains age fifty.3.  Except as otherwise provided by or pursuant to subdivision five or  subdivision six of this section, the monthly supplemental pension to  be  paid  to  a  state retired teacher shall be twenty-five dollars plus the  amount, if any, by which one-twelfth of his annual retirement allowance,  computed  without  optional modification, is less than fifty dollars. In  no event shall the monthly supplemental pension paid to a state  retired  teacher  exceed  an  amount  which,  when  added  to  an amount equal to  one-twelfth  of  his  annual  retirement  allowance,  computed   without  optional modification, exceeds the sum of one hundred dollars.    4.  For  the  purposes  of  this section, in determining the number of  years of allowable and credited service, a  major  fraction  of  a  year  shall be counted as a full year.    5.  Notwithstanding  any  other  provision  of  this act but except as  otherwise provided by or pursuant to  subdivision  six  and  subdivision  seven of this section, any state retired teacher who    (a)  attained  age  sixty-five  before  April  first, nineteen hundred  fifty-six, or who attains such age on or after  such  date  and  who  is  receiving  or  is entitled to receive a supplemental pension pursuant to  this act on or after such date shall, beginning with the month of April,  nineteen hundred fifty-six, if he is then sixty-five  years  of  age  or  beginning  with  the  month  thereafter  during  which  he  attains  age  sixty-five, or    (b) is a female person who attained age sixty-two before April  first,  nineteen  hundred  fifty-seven, or who attains such age on or after such  date and who is receiving or entitled to receive a supplemental  pension  pursuant  to  this  act  on or after such date shall, beginning with the  month of April, nineteen hundred fifty-seven, if she is  then  sixty-two  years  of  age  or  beginning with the month thereafter during which she  attains age sixty-two, or    (c) is retired for disability, either before or  after  attaining  age  fifty,  and  who  attained such age before April first, nineteen hundred  fifty-seven, or who attains such age on or after such date  and  who  is  receiving or entitled to receive a supplemental pension pursuant to this  act  on  or  after  such  date shall, beginning with the month of April,  nineteen hundred fifty-seven, if he  is  then  fifty  years  of  age  or  beginning  with  the month thereafter during which he attains age fifty,  receive a monthly supplemental pension in an amount which when added  to  his  monthly  retirement allowance or pension, computed without optional  modification, including any modification due to additional contributions  as authorized by subdivision three of section five  hundred  sixteen  of  the  education law shall be equal to one hundred eight dollars and fifty  cents;  provided,  however,  that  this  subdivision  shall  not  become  operative  in  the  case  of  a local retired teacher unless and until a  local  law,  ordinance  or  resolution   authorizing   such   additional  supplemental  pension  payments  for such a person or persons shall have  become effective.  receive a monthly supplemental pension in an amount which when added  to  his  monthly  retirement allowance or pension, computed without optional  modification, shall be equal to one  hundred  eight  dollars  and  fifty  cents;  provided,  however,  that  this  subdivision  shall  not  become  operative in the case of a local retired  teacher  unless  and  until  a  local   law,   ordinance   or  resolution  authorizing  such  additional  supplemental pension payments for such a person or  persons  shall  have  become effective.    6. Notwithstanding any other provision of this act except as otherwise  provided  by  or  pursuant  to  subdivision seven of this section, (a) a  state retired teacher, having retired  prior  to  July  first,  nineteen  hundred  sixty-one,  who  is  not receiving the primary benefit obtainedunder the federal old-age, survivors, and disability  insurance  system,  shall  receive,  beginning with the month of September, nineteen hundred  sixty-five, a monthly supplemental pension in an amount which when added  to  his  monthly  retirement  allowance  or  pension,  computed  without  optional modification,  shall  be  equal  to  two  hundred  dollars  and  beginning  with  the  month  of  September,  nineteen hundred seventy, a  monthly supplemental pension in an  amount  which,  when  added  to  his  monthly  retirement  allowance  or  pension,  computed  without optional  modification, shall be equal to two hundred twenty-five dollars, or  (b)  a  state  retired  teacher, having retired prior to July first, nineteen  hundred sixty-one, who is receiving the primary benefit  obtained  under  the  federal  old-age, survivors, and disability insurance system, shall  receive, beginning with the month of April, nineteen hundred sixty-five,  a monthly supplemental pension in an amount which,  when  added  to  his  monthly  retirement allowance or pension, without optional modification,  shall be equal to one hundred seventy-five dollars;  provided,  however,  that  this subdivision shall not become operative in the case of a local  retired teacher unless and until a local law,  ordinance  or  resolution  authorizing  such  additional  supplemental  pension payments for such a  person or persons shall have become effective, and further provided that  nothing herein contained shall be construed to  reduce  any  pension  or  retirement  allowance,  or  supplemental  pension  being received by any  retired teacher prior to April first, nineteen  hundred  sixty-five.  As  used  in  this  subdivision  the  term  "optional modification" includes  modification due to additional contributions authorized  by  subdivision  three of section five hundred sixteen of the education law.    7.  For  persons retiring after June thirtieth, nineteen hundred sixty  and prior to the effective date of this chapter, and who  are  otherwise  eligible for supplementation under provisions of this act, a retroactive  payment  for  supplemental  pensions  shall  be  made, as if chapter one  thousand forty of the laws  of  nineteen  hundred  sixty  had  not  been  enacted,  covering  the  period  between  the date of retirement and the  effective date of this chapter.