State Codes and Statutes

Statutes > New-york > Rss > Article-18 > 801

§  801.  Transfer  rights.   a. Except as provided in subdivision b of  this section, any member of a public retirement system who by reason  of  simultaneous  membership  in  two  public retirement systems, would have  been entitled to transfer  membership  in  a  public  retirement  system  pursuant  to  any provision of law, but failed to make a timely election  to do so shall be entitled to transfer membership if written  notice  is  given  to  such  system  no  later  than January first, nineteen hundred  ninety-eight, or within one year of the enactment of a local law by  the  city of New York for a member who: (i) is an employee of the city of New  York;  or (ii) is not an employee of the city of New York, but has prior  employment with such city without which he or she  would  be  ineligible  for the benefit provided by this section.    b.  For  a membership occurring prior to April first, nineteen hundred  ninety-three pursuant to any  provision  of  law,  a  public  retirement  system  shall  have  the  authority  to  grant  relief from a failure to  transfer such membership if the  member  would  have  been  eligible  to  transfer  such membership to the system granting relief if he or she had  joined the system granting relief on  the  commencement  of  employment,  provided  that the member had been continuously (as defined in paragraph  two of subdivision b of section eight hundred  three  of  this  article)  employed in such employment from the commencement of eligible employment  until  the  member joined the system and the member files written notice  with  the  system  no  later  than  January  first,   nineteen   hundred  ninety-eight,  or within one year of the enactment of a local law by the  city of New York for a member who: (i) is an employee of the city of New  York; or (ii) is not an employee of the city of New York, but has  prior  employment  with  such  city without which he or she would be ineligible  for the benefit provided by this section.    c. As a condition for transfer pursuant to subdivisions  a  and  b  of  this section, the employee must deposit within one year of the filing of  the written notice of intention to transfer as provided in subdivision a  or  b  of  this  section, with the public retirement system of which the  employee is a member, an amount equal to the amount withdrawn  from  the  public  retirement  system  of which the employee had been a member with  interest thereon as prescribed by the retirement  system  of  which  the  employee is a member. When such deposit has been made, a calculation and  transfer of the reserve on such employee's benefit shall be made.    d.  Except as expressly provided herein, the applicable rules relating  to the transfer of membership, including the transfer of reserves, shall  apply to the transfer of membership permitted hereunder.    e. This section shall not be construed to continue membership  in  any  retirement system.

State Codes and Statutes

Statutes > New-york > Rss > Article-18 > 801

§  801.  Transfer  rights.   a. Except as provided in subdivision b of  this section, any member of a public retirement system who by reason  of  simultaneous  membership  in  two  public retirement systems, would have  been entitled to transfer  membership  in  a  public  retirement  system  pursuant  to  any provision of law, but failed to make a timely election  to do so shall be entitled to transfer membership if written  notice  is  given  to  such  system  no  later  than January first, nineteen hundred  ninety-eight, or within one year of the enactment of a local law by  the  city of New York for a member who: (i) is an employee of the city of New  York;  or (ii) is not an employee of the city of New York, but has prior  employment with such city without which he or she  would  be  ineligible  for the benefit provided by this section.    b.  For  a membership occurring prior to April first, nineteen hundred  ninety-three pursuant to any  provision  of  law,  a  public  retirement  system  shall  have  the  authority  to  grant  relief from a failure to  transfer such membership if the  member  would  have  been  eligible  to  transfer  such membership to the system granting relief if he or she had  joined the system granting relief on  the  commencement  of  employment,  provided  that the member had been continuously (as defined in paragraph  two of subdivision b of section eight hundred  three  of  this  article)  employed in such employment from the commencement of eligible employment  until  the  member joined the system and the member files written notice  with  the  system  no  later  than  January  first,   nineteen   hundred  ninety-eight,  or within one year of the enactment of a local law by the  city of New York for a member who: (i) is an employee of the city of New  York; or (ii) is not an employee of the city of New York, but has  prior  employment  with  such  city without which he or she would be ineligible  for the benefit provided by this section.    c. As a condition for transfer pursuant to subdivisions  a  and  b  of  this section, the employee must deposit within one year of the filing of  the written notice of intention to transfer as provided in subdivision a  or  b  of  this  section, with the public retirement system of which the  employee is a member, an amount equal to the amount withdrawn  from  the  public  retirement  system  of which the employee had been a member with  interest thereon as prescribed by the retirement  system  of  which  the  employee is a member. When such deposit has been made, a calculation and  transfer of the reserve on such employee's benefit shall be made.    d.  Except as expressly provided herein, the applicable rules relating  to the transfer of membership, including the transfer of reserves, shall  apply to the transfer of membership permitted hereunder.    e. This section shall not be construed to continue membership  in  any  retirement system.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Rss > Article-18 > 801

§  801.  Transfer  rights.   a. Except as provided in subdivision b of  this section, any member of a public retirement system who by reason  of  simultaneous  membership  in  two  public retirement systems, would have  been entitled to transfer  membership  in  a  public  retirement  system  pursuant  to  any provision of law, but failed to make a timely election  to do so shall be entitled to transfer membership if written  notice  is  given  to  such  system  no  later  than January first, nineteen hundred  ninety-eight, or within one year of the enactment of a local law by  the  city of New York for a member who: (i) is an employee of the city of New  York;  or (ii) is not an employee of the city of New York, but has prior  employment with such city without which he or she  would  be  ineligible  for the benefit provided by this section.    b.  For  a membership occurring prior to April first, nineteen hundred  ninety-three pursuant to any  provision  of  law,  a  public  retirement  system  shall  have  the  authority  to  grant  relief from a failure to  transfer such membership if the  member  would  have  been  eligible  to  transfer  such membership to the system granting relief if he or she had  joined the system granting relief on  the  commencement  of  employment,  provided  that the member had been continuously (as defined in paragraph  two of subdivision b of section eight hundred  three  of  this  article)  employed in such employment from the commencement of eligible employment  until  the  member joined the system and the member files written notice  with  the  system  no  later  than  January  first,   nineteen   hundred  ninety-eight,  or within one year of the enactment of a local law by the  city of New York for a member who: (i) is an employee of the city of New  York; or (ii) is not an employee of the city of New York, but has  prior  employment  with  such  city without which he or she would be ineligible  for the benefit provided by this section.    c. As a condition for transfer pursuant to subdivisions  a  and  b  of  this section, the employee must deposit within one year of the filing of  the written notice of intention to transfer as provided in subdivision a  or  b  of  this  section, with the public retirement system of which the  employee is a member, an amount equal to the amount withdrawn  from  the  public  retirement  system  of which the employee had been a member with  interest thereon as prescribed by the retirement  system  of  which  the  employee is a member. When such deposit has been made, a calculation and  transfer of the reserve on such employee's benefit shall be made.    d.  Except as expressly provided herein, the applicable rules relating  to the transfer of membership, including the transfer of reserves, shall  apply to the transfer of membership permitted hereunder.    e. This section shall not be construed to continue membership  in  any  retirement system.

Categories