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561
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MARVIN MANDEL, Governor
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ELIMINATION, AND THEREAFTER EACH SHALL IN THAT ORDER
ALTERNATELY ELIMINATE ONE NAME UNTIL ONLY ONE NAME
REMAINS. THE REMAINING PERSON ON THE LIST SHALL BE THE
THIRD ARBITRATOR. THE TERM "LABOR DISPUTE" SHALL BE
BROADLY CONSTRUED AND SHALL INCLUDE ANY CONTROVERSY
CONCERNING WAGES, SALARIES, HOURS, WORKING CONDITIONS, OR
BENEFITS INCLUDING HEALTH AND WELFARE, SICK LEAVE,
INSURANCE OR PENSION OR RETIREMENT PROVISIONS BUT NOT
LIMITED THERETO, AND INCLUDING ANY CONTROVERSY CONCERNING
ANY DIFFERENCES OR QUESTIONS THAT MAY ARISE BETWEEN THE
PARTIES INCLUDING BUT NOT LIMITED TO THE MAKING OR
MAINTAINING OF COLLECTIVE BARGAINING AGREEMENTS, THE
TERMS TO BE INCLUDED IN SUCH AGREEMENTS, AND THE
INTERPRETATION OR APPLICATION OF SUCH COLLECTIVE
BARGAINING AGREEMENTS AND ANY GRIEVANCE THAT MAY ARISE
AND QUESTIONS CONCERNING REPRESENTATION. EACH PARTY
SHALL PAY ONE HALF OF THE EXPENSES OF SUCH ARBITRATION.
(D) PENSION OR RETIREMENT SYSTEM.
THE AUTHORITY IS HEREBY AUTHORIZED AND EMPOWERED TO
ESTABLISH AND MAINTAIN A SYSTEM OF PENSIONS AND
RETIREMENT BENEFITS FOR SUCH OFFICERS AND EMPLOYEES OF
THE AUTHORITY AS MAY BE DESIGNATED OR DESCRIBED BY
RESOLUTION OF THE AUTHORITY; TO FIX THE TERMS OF AND
RESTRICTIONS ON ADMISSION TO SUCH SYSTEM AND THE
CLASSIFICATIONS THEREIN; TO PROVIDE THAT PERSONS ELIGIBLE
FOR ADMISSION IN SUCH PENSION SYSTEM SHALL NOT BE
ELIGIBLE FOR ADMISSION TO, OR RECEIVE ANY BENEFITS FROM,
ANY OTHER PENSION SYSTEM (EXCEPT SOCIAL SECURITY
BENEFITS), WHICH IS FINANCED OR FUNDED, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY BY FUNDS PAID OR
APPROPRIATED BY THE AUTHORITY TO SUCH OTHER PENSION
SYSTEM, AND TO PROVIDE IN CONNECTION WITH SUCH PENSION
SYSTEM, A SYSTEM OF BENEFITS PAYABLE TO THE BENEFICIARIES
AND DEPENDENTS OF ANY PARTICIPANT IN SUCH PENSION SYSTEM
AFTER THE DEATH OF SUCH PARTICIPANT (WHETHER ACCIDENTAL
OR OTHERWISE, WHETHER OCCURRING IN THE ACTUAL PERFORMANCE
OF DUTY OR OTHERWISE, OR BOTH) SUBJECT TO SUCH
EXCEPTIONS, CONDITIONS, RESTRICTIONS AND CLASSIFICATIONS
AS MAY BE PROVIDED BY RESOLUTION OF THE AUTHORITY. SUCH
PENSION SYSTEM SHALL BE FINANCED OR FUNDED BY SUCH MEANS
AND IN SUCH MANNER AS MAY BE DETERMINED BY THE AUTHORITY
TO BE ECONOMICALLY FEASIBLE. UNLESS THE AUTHORITY SHALL
OTHERWISE DETERMINE, NO OFFICER OR EMPLOYEE OF THE
AUTHORITY AND NO BENEFICIARY OR DEPENDENT OF ANY SUCH
OFFICER OR EMPLOYEE SHALL BE ELIGIBLE TO RECEIVE ANY
PENSION OR RETIREMENT OF OTHER BENEFITS BOTH FROM OR
UNDER ANY SUCH PENSION SYSTEM AND FROM OR UNDER ANY
PENSION OR RETIREMENT. SYSTEM ESTABLISHED BY AN ACQUIRED
TRANSPORTATION SYSTEM OR ESTABLISHED OR PROVIDED FOR, BY
OR UNDER THE PROVISIONS OF ANY COLLECTIVE BARGAINING
AGREEMENT BETWEEN THE AUTHORITY AND THE REPRESENTATIVES
OF ITS EMPLOYEES.
(E) EMPLOYEES OF ACQUIRED TRANSPORTATION SYSTEMS.
WHENEVER THE AUTHORITY ACQUIRES EXISTING TRANSIT
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