N.Y. Retirement and Social Security Law 801 – Transfer rights
§ 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.
Terms Used In N.Y. Retirement and Social Security Law 801
- city of New York: shall include : (a) every employer other than a state employer which participates in the New York city employees' retirement system, New York city teachers' retirement system, New York city police pension fund, New York city fire department pension fund or the New York city board of education retirement system, and (b) a city of New York funded college of the state university of New York located within such city, the city of New York libraries subject to section thirty-two of this chapter, and the civilian and uniformed employees described in subdivision sixteen of § 1204 of the public authorities law; and (ii) a "state employer" shall mean the unified court system, the senior colleges of the city university of New York and a public benefit corporation, public corporation or subsidiary corporation a majority of the members of which are appointed by the governor, designated by virtue of their state office or appointed or designated by any combination of the foregoing. See N.Y. Retirement and Social Security Law 800
- Public retirement system: shall mean the New York state and local employees' retirement system, the New York state and local police and fire retirement system, New York state teachers' retirement system, New York city employees' retirement system, New York city teachers' retirement system, New York city police pension fund, New York city fire department pension fund and the New York city board of education retirement system. See N.Y. Retirement and Social Security Law 800
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.