NY Educ L § 504 (2021)
2021 New York Laws EDN - Education Title 1 - General Provisions Article 11 - State Teachers' Retirement System for Public School Teachers 504 - Retirement Board; Members; Terms of Office; Vacancies.

§ 504. Retirement  board;  members; terms of office; vacancies. 1. The   general administration and responsibility for the  proper  operation  of   the  retirement  system  and for making effective the provisions of this   article  shall  continue  to  be  vested  in  a  retirement  board.  The   retirement board shall from time to time establish rules and regulations   for  the  administration  and  transaction  of  its business and for the   control of the  funds  created  herein  and  shall  perform  such  other   functions  as  are  required for the execution of the provisions of this   article.2. The retirement board shall consist of ten members as follows.a. One member, who is not an employee of the state, who  shall  be  or   shall have been an executive officer of a bank authorized to do business   in  this state, elected by the board of regents of The University of the   State of New York to serve for a term of three years.b. Two members who are not employees of the state, each of whom  shall   be or shall have been a trustee or member of the board of education of a   school  district  in  this  state,  and at least one of whom shall be or   shall have been an executive officer of an insurance company, elected by   the board of regents of The University of the State of New York to serve   for a term of three years, from a list of five or  more  persons  having   broad  experience and ability in the fields of finance and investment to   be presented to the regents by the board of directors of  the  New  York   State School Boards Association, Inc.c.  Two  administrative  officers of the New York state school system,   appointed by the commissioner of education, each to serve for a term  of   three  years.  Members  of  the  present state teachers' retirement fund   board shall be deemed to be administrative  officers  of  the  New  York   state school system within the meaning of this provision.d. The comptroller of the state of New York or one member appointed by   him who shall serve until his successor is appointed.e.  Three  members  elected  from  among the members of the retirement   system, each to serve for a term of three years.f. One member, who must be a retired teacher, who shall be elected  in   accordance  with  the  provisions of section five hundred five-a of this   article to serve for a term of three years.3. A vacancy occurring during the term of  a  member  elected  by  the   board  of regents or appointed by the commissioner of education shall be   filled for the unexpired term  by  the  election  or  appointment  of  a   successor  in  the  same  manner as his predecessor. A vacancy occurring   during a term in the case of a member  elected  from  among  the  active   members  of the retirement system shall be filled, until the next annual   convention of delegates, by the commissioner of education and  shall  be   filled  for  the  unexpired  term  by  the  delegates at the next annual   convention in addition to the  regular  election.  A  vacancy  occurring   during  the  term  of  a  retired  teacher  member  shall  be  filled in   accordance with the provisions of section five hundred  five-a  of  this   article.