§ 6214 — Retirement systems

New York § 6214

• Jurisdiction: New York
• Law EDN: Education
• Title 7: State and City Colleges and Institutions-cornell University
• Art. 125: City University of New York

Text

§ 6214. Retirement systems. 1. All members of teaching and\nadministrative staffs in any educational unit established by the board\nof trustees, and in any other institution administered and controlled by\nsuch board, who are not members of any other retirement system supported\nin whole or in part by the city of New York and who hold appointment to\nservice on annual salaries, shall, upon appointment, become members of\nthe public school teachers' retirement system of such city if eligible\ntherefor and if not eligible therefor shall become members of the\nemployees' retirement system of such city and shall have all the\nobligations, rights, privileges and benefits of new entrants.\n 2. An employee of the board of trustees who is a member of the New\nYork city employees' retirement system and who is also eligible for\nmembership in the teachers' retirement system of the city of New York\nshall have the right to transfer his membership to such teachers'\nretirement system. In order to effect such a transfer, a member must\ngive notice to the New York city employees' retirement system within one\nyear of his last becoming eligible for membership in the said teachers'\nretirement system, of his intention to transfer to the said teachers'\nretirement system. Upon receipt of such notice, the New York city\nemployees' retirement system shall transfer to such teachers' retirement\nsystem the reserve on such member's benefits in the manner provided by\nsection forty-three of the retirement and social security law. The\nformer system shall also transfer to the latter system the member's\naccumulated deductions which shall become such member's accumulated\ndeductions in the latter system. A person so transferring shall be\ndeemed to have been a member of the system to which he has transferred\nduring the entire period of membership service credited to him in the\nsystem from which he has transferred. Such transferee shall be entitled\nto all the rights, privileges and benefits of the system to which he has\ntransferred. Such transferee shall be entitled to the crediting of\nregular interest in such teachers' retirement system at the same rate as\nhe would have received had he continued membership in the New York city\nemployees' retirement system. Upon his retirement, the mortality table\nin effect in the teachers' retirement system of the city of New York on\nthe date when he last became a member of the New York city employees'\nretirement system shall apply.\n 3. Any member of the New York city employees' retirement system who is\na member of the instructional staff of the city university shall have\nthe right to transfer his membership to the teachers' retirement system\nof the city of New York. In order to effect such a transfer, a member\nmust give notice to the New York city employees' retirement system, on\nor before June thirtieth, nineteen hundred eighty-seven or, within one\nyear of his eligibility for membership in the said teachers' retirement\nsystem, of his intention to transfer to the said teachers' retirement\nsystem. Upon receipt of such notice, the New York city employees'\nretirement system shall transfer to such teachers' retirement system the\nreserve on such member's benefits in the manner provided by section\nforty-three of the retirement and social security law. The former system\nshall also transfer to the latter system the member's accumulated\ndeductions which shall become such member's accumulated deductions in\nthe latter system. A person so transferring shall be deemed to have been\na member of the system to which he has transferred during the entire\nperiod of membership service credited to him in the system from which he\nhas transferred. Such transferee shall be entitled to all the rights,\nprivileges and benefits of the system to which he has transferred. Such\ntransferee shall be entitled to the crediting of regular interest in\nsuch teachers' retirement system at the same rate as he or she would\nhave received had he continued membership in the New York city\nemployees' retirement system. Upon his retirement, the mortality table\nin effect in the teachers' retirement system of the city of New York on\nthe date when he last became a member of the New York city employees'\nretirement system shall apply.\n 4. Notwithstanding any other provision of law, on or after July first,\nnineteen hundred eighty-six, any new member of the instructional staff\nat a senior or community college of the city university of New York\nshall be a member of the teachers' retirement system of the city of New\nYork or, if he so elects under applicable provisions of law, a member of\nthe optional retirement program established under article one hundred\ntwenty-five-A of this chapter.\n