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 5007.4 - Interest on contributions

Current through Register Vol. 46, No. 12, March 20, 2024

Interest on contributions made by members after July 1, 1957 shall be computed from the time of deduction and added to the accumulated contributions. Interest in the annuity savings fund shall be credited to the date on which, as applicable, a member dies, has his/her contributions refunded, retires where the member elects to receive an annuity from the system, or receives, following retirement, a total withdrawal distribution of his/her annuity savings, or membership otherwise ceases, and when membership ceases no interest will be allowed on contributions left in the annuity savings fund.

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