New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter VI - New York State and Local Employees' Retirement System and New York State and Local Police and Fire Retirement System
Part 316 - Service Credit Determinations For Persons Who Last Became Members On Or After July 1, 1973
Section 316.2 - Service credit determination for persons who last became members on or after july 1, 1973
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Preliminary service credit.
Preliminary service credit for a report period shall be expressed as a fraction, the numerator of which shall be the number of days worked on the payrolls paid in the report period and the denominator of which shall be 260. The Retirement System will determine this preliminary service credit using the number of days worked as reported by the employer in accordance with the provisions of section 315 of this Title (2 NYCRR 315 ]). In no event shall preliminary service credit exceed the fraction obtained by dividing the gross salary paid in the report period by the product of the State's minimum wage and 2,000 hours.
(b) Allowable service credit.
Service credit allowed within any fiscal year of the State shall be equal to the accumulated preliminary service credit within that year upon determination by the Retirement System that the amount of reported preliminary service is accurate.
