New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LVIII - New York State Teachers' Retirement System
Part 5004 - Loans
Section 5004.3 - Additional eligibility requirements for members with a date of membership on or after July 27, 1976 (Tiers III, IV and V)
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 5004.3
Current through Register Vol. 45, No. 52, December 27, 2023
(a) Members must not have previously received a loan during the calendar year (January 1st-December 31st) in which the loan is to be issued. A member must apply by December 15th in order to assure the loan is issued by December 31st.
(b) A loan shall be at least $1,000 and, together with any outstanding loan balance, shall not exceed 75 percent of the member's total contributions.
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