New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter LVIII - New York State Teachers' Retirement System
Part 5026 - Charter Schools
Section 5026.1 - Admission of charter schools as participating employers

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

The system shall admit charter schools located within the boundaries of school districts of New York State outside New York City, subject to the following:

(a) the system shall not admit any applying charter school until it has received a favorable ruling from the Internal Revenue Service indicating that the admission of charter schools will not affect the system's status as a governmental plan; should the ruling not be received until after an applying charter school has commenced operation, admission will be retroactive to the date such charter school commenced operation;

(b) application for the charter school to become a participating employer shall be made on a form prescribed by the system duly executed by a person duly authorized to act upon behalf of the charter school; the system may require such additional information or certifications as it may deem necessary or appropriate; and

(c) the charter school must agree in writing to undertake and perform all the obligations of a participating employer in the system including, but not limited to, those obligations with respect to recordkeeping and reporting and collection and remittance of employer and employee contributions; failure of the charter school to so agree shall be grounds for refusing admission of such charter school as a participating employer.

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