New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LVIII - New York State Teachers' Retirement System
Part 5007 - Refund Of Contributions Of Members Whose Date Of Membership Is Prior To July 27, 1976
Section 5007.1 - Monies refunded
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 5007.1
Current through Register Vol. 46, No. 12, March 20, 2024
(a) A member's accumulated contributions shall consist of all his contributions in the annuity savings fund, together with credited interest.
(b) Monies refunded shall be paid from the annuity savings fund, except in the following instances where they are paid from the pension accumulation fund:
(1) where
the employer's share is paid by the member in order to purchase military
service credit under section
243 of the Military Law and subdivision 10
of section
503 of the Education Law;
(2) where the member's accumulated
contributions have been deemed abandoned pursuant to section
531 of the Education Law.
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