Such latter proportion shall be the same as that which was or which would be computed under item three of subparagraph c of paragraph two of subdivision e of section three hundred eighty-four of this article. In no event shall a member contribute under this section at a higher rate than he was or would be required to contribute under item three of subparagraph c of paragraph two of subdivision e of section three hundred eighty-four of this article had this section not been enacted.
Such members' rate of contribution pursuant to this section shall be appropriately reduced pursuant to section three hundred seventy-a of this article for such period of time as his employer contributes pursuant to such section toward pensions-providing-for-increased-take-home-pay, provided, however, that such member may by written notice duly acknowledged and filed with the comptroller, make an election to waive such reduction as provided by subdivision j of section three hundred twenty-one of this article. One year or more after the filing thereof, a member may withdraw any such election by written notice duly acknowledged and filed with the comptroller.
No such member shall be required to continue contributions after completing twenty-five years of such service.
For the purpose only of determining the amount of the pension provided in this subdivision, the annuity shall be computed as it would be if it were not reduced by the actuarial equivalent of any outstanding loan, and if it were not increased by the actuarial equivalent of any additional contributions, and if it were not reduced by reason of the member's election to decrease his annuity contributions to the retirement system in order to apply the amount of such reduction in payment of his contributions for old-age and survivors insurance coverage.
N.Y. Retire. and Soc. Sec. Law § 388