New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LVIII - New York State Teachers' Retirement System
Part 5004 - Loans
Section 5004.1 - General requirements for all loans
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 5004.1
Current through Register Vol. 46, No. 12, March 20, 2024
(a) All applications for loans shall be made on forms approved and provided by the system.
(b) Any member who is credited with at least one year of service may apply for a loan.
(c) The unpaid balance of any defaulted loan must be fully repaid.
(d) Nothing in this Part shall authorize or require the system to make a loan which is not permitted under the applicable provisions of the Internal Revenue Code.
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