NY Educ L § 6214 (2021)
2021 New York Laws EDN - Education Title 7 - State and City Colleges and Institutions-Cornell University Article 125 - City University of New York 6214 - Retirement Systems.

§ 6214. Retirement   systems.   1.   All   members   of  teaching  and   administrative staffs in any educational unit established by  the  board   of trustees, and in any other institution administered and controlled by   such board, who are not members of any other retirement system supported   in  whole or in part by the city of New York and who hold appointment to   service on annual salaries, shall, upon appointment, become  members  of   the  public  school teachers' retirement system of such city if eligible   therefor and if not  eligible  therefor  shall  become  members  of  the   employees'  retirement  system  of  such  city  and  shall  have all the   obligations, rights, privileges and benefits of new entrants.2. An employee of the board of trustees who is a  member  of  the  New   York  city  employees'  retirement  system  and who is also eligible for   membership in the teachers' retirement system of the city  of  New  York   shall  have  the  right  to  transfer  his  membership to such teachers'   retirement system. In order to effect such a  transfer,  a  member  must   give notice to the New York city employees' retirement system within one   year  of his last becoming eligible for membership in the said teachers'   retirement system, of his intention to transfer to  the  said  teachers'   retirement  system.  Upon  receipt  of  such  notice,  the New York city   employees' retirement system shall transfer to such teachers' retirement   system the reserve on such member's benefits in the manner  provided  by   section  forty-three  of  the  retirement  and  social security law. The   former system shall also transfer to  the  latter  system  the  member's   accumulated  deductions  which  shall  become  such member's accumulated   deductions in the latter system.  A  person  so  transferring  shall  be   deemed  to  have been a member of the system to which he has transferred   during the entire period of membership service credited to  him  in  the   system  from which he has transferred. Such transferee shall be entitled   to all the rights, privileges and benefits of the system to which he has   transferred. Such transferee shall  be  entitled  to  the  crediting  of   regular interest in such teachers' retirement system at the same rate as   he  would have received had he continued membership in the New York city   employees' retirement system. Upon his retirement, the  mortality  table   in  effect in the teachers' retirement system of the city of New York on   the date when he last became a member of the New  York  city  employees'   retirement system shall apply.3. Any member of the New York city employees' retirement system who is   a  member  of  the instructional staff of the city university shall have   the right to transfer his membership to the teachers' retirement  system   of  the  city  of New York. In order to effect such a transfer, a member   must give notice to the New York city employees' retirement  system,  on   or  before  June thirtieth, nineteen hundred eighty-seven or, within one   year of his eligibility for membership in the said teachers'  retirement   system,  of  his  intention to transfer to the said teachers' retirement   system. Upon receipt of  such  notice,  the  New  York  city  employees'   retirement system shall transfer to such teachers' retirement system the   reserve  on  such  member's  benefits  in the manner provided by section   forty-three of the retirement and social security law. The former system   shall also transfer  to  the  latter  system  the  member's  accumulated   deductions  which  shall  become such member's accumulated deductions in   the latter system. A person so transferring shall be deemed to have been   a member of the system to which he has  transferred  during  the  entire   period of membership service credited to him in the system from which he   has  transferred.  Such  transferee shall be entitled to all the rights,   privileges and benefits of the system to which he has transferred.  Such   transferee  shall  be  entitled  to the crediting of regular interest in   such teachers' retirement system at the same rate as  he  or  she  would   have  received  had  he  continued  membership  in  the  New  York  city    employees' retirement system. Upon his retirement, the  mortality  table   in  effect in the teachers' retirement system of the city of New York on   the date when he last became a member of the New  York  city  employees'   retirement system shall apply.4. Notwithstanding any other provision of law, on or after July first,   nineteen  hundred  eighty-six, any new member of the instructional staff   at a senior or community college of the  city  university  of  New  York   shall  be a member of the teachers' retirement system of the city of New   York or, if he so elects under applicable provisions of law, a member of   the optional retirement program established under  article  one  hundred   twenty-five-A of this chapter.