2023 New York Laws › RSS - Retirement and Social Security › Article 8 - New York State and Local Police and Fire Retirement System › Title 6 - Right to Membership, Service Credit and Transfers Between Retirement Systems › 343 - Transfer of Members Between Systems.

§  343.  Transfer  of  members between systems. a. Notwithstanding any
  other provision of law  providing  for  transfers,  any  member  of  any
  retirement  system  maintained  by  the state or a municipality thereof,
  operating on a sound financial basis and subject to the  supervision  of
  the  department  of financial services of this state may transfer his or
  her membership pursuant to this section to the New York state and  local
  employees'  retirement  system,  the  New  York  city board of education
  employees' retirement system, the New York  state  teachers'  retirement
  system,  the  New York state and local police and fire retirement system
  or to the New York city employees' retirement system. Any member of  the
  New  York state and local police and fire retirement system may transfer
  his or her membership to any retirement system, other than the  hospital
  retirement system, which is operating on a sound basis and is subject to
  the  supervision  of the department of financial services of this state.
  Any police officer employed by the metropolitan transportation authority
  who is a member of the MTA police twenty year retirement program of  the
  metropolitan  transportation  authority  defined  benefit  pension  plan
  (hereinafter referred to in this section as the "MTA  police  retirement
  program")  may  transfer his or her membership in the New York state and
  local police and fire retirement system and/or the New York city  police
  pension  fund  to  the MTA police retirement program. Any police officer
  who was employed by the metropolitan transportation authority, the  Long
  Island Railroad Company or the Metro-North Commuter Railroad Company and
  who is a member of the MTA police retirement program may transfer his or
  her  membership  in  the  MTA  police retirement program to the New York
  state and local police and fire retirement system. Any transfer pursuant
  to this section may be effectuated only if the  member  has  accepted  a
  position in another branch of the state or municipal service which would
  make it:
1.  Impossible  for him or her to continue in the retirement system of
  which he or she has been a member, and
2. Possible for him or her to participate in another such system.
Notwithstanding the foregoing  provisions  of  this  subdivision,  any
  employee  who  would  be  eligible  to  avail  himself or herself of the
  provisions of this section but for being on leave of absence status from
  a prior employment while in his or  her  present  employment,  shall  be
  permitted  to  transfer his or her retirement system membership pursuant
  to the provisions of this section.
b. 1. In order to effect such a transfer, a member must give notice to
  the administrative head of the retirement system of which he or she is a
  member, prior to  his  or  her  withdrawal  therefrom,  of  his  or  her
  intention to enter such other retirement system within one year.
2.  If  a member of the New York city police pension fund is trying to
  effect a transfer from such pension fund to the  MTA  police  retirement
  program,  the  member must give notice to the administrative head of the
  New York city police pension  fund,  prior  to  his  or  her  withdrawal
  therefrom, of his or her intention to enter such other retirement system
  within  one  year  or  within  one  year  of  the effective date of this
  paragraph.
3. In the case of a person who has withdrawn from a retirement  system
  and  has  been entitled to at least thirty years of total service credit
  in such system, however, such notice may be  given  within  three  years
  from  the  time  of  such  withdrawal. In the case of a person who was a
  member of a retirement system, and who while under such status becomes a
  member of such second retirement system, and who has not  withdrawn  his
  or her contributions to the first such retirement system, any provisions
  of  law  notwithstanding,  such  notice  may  be given on or before June
  thirtieth, nineteen hundred sixty-seven. A person so  transferring  from

  one  retirement  system to another shall be deemed to have been a member
  of the system to which he or  she  has  transferred  during  the  entire
  period  of  membership service credited to him or her in the system from
  which  he  or  she  has transferred. Such transferee, however, shall not
  receive more than three percent interest on his or her contributions and
  accumulated contributions unless he  or  she  has  continuously  been  a
  member  in  either  the  system  from  which  or  to  which he or she is
  transferring  since  a  date  prior  to  July  first,  nineteen  hundred
  forty-three.  This  shall  not  be  construed to prevent a change in the
  interest rate to such member if  the  interest  rate  payable  to  other
  members of the system to which he or she has transferred is changed. Any
  member  who heretofore transferred from one retirement system to another
  shall, commencing with  the  effective  date  of  this  subdivision,  be
  entitled  to  the  same  rights,  privileges  and benefits, and shall be
  subject  to  the  same  obligations,  as  a  transferee  who   hereafter
  transfers.  He  or she shall receive no credit for prior service, except
  as hereinafter provided. He or she shall be permitted to deposit in  the
  second  retirement  system  the total amount of his or her contributions
  withdrawn from the first retirement system. Upon such deposit within one
  year or within three years, or on or  before  June  thirtieth,  nineteen
  hundred sixty-seven, as the case may be, he or she or the administrative
  head of the system to which he or she desires to transfer, shall request
  the  administrative  head  of the first retirement system to transfer to
  the second  retirement  system  a  credit  on  account  of  his  or  her
  membership in such system.
c.  Upon  the  request  for  a transfer of credit, the reserve on such
  member's  benefits,  computed  as  though  he   had   not   discontinued
  membership,  shall  be  determined by the actuary of the first system in
  the following manner:
1. The total  present  value  of  all  benefits  allowable  under  the
  retirement  system  as the result of contributions made or to be made by
  his employer shall be computed.
2. From such total present value there shall be deducted  the  present
  value of the future contributions which would be payable by his employer
  on  such  member's  account  had  he  become  a member of the retirement
  system, subsequent  to  its  establishment,  at  the  age  at  which  he
  originally  entered  the service of his employer. The result so obtained
  shall be  considered  as  the  reserve  on  his  account  in  the  first
  retirement system.
d.  Such  reserve  shall  be  transferred from the appropriate fund or
  funds of the first system to the appropriate fund or funds of the second
  system within one year from the date of the request for  a  transfer  of
  credit.  Such member, thereupon, shall be given such status and credited
  with such service in the second retirement system as he was  allowed  in
  the first retirement system. Such contributor, notwithstanding any other
  provision  of  law,  shall  on  retirement  after  three years of member
  service in the second retirement system be entitled to a  pension  based
  on  salary  earned during member service in either retirement system, or
  in both retirement systems together, whichever may produce  the  greater
  pension  pursuant to the statutory requirements of the second retirement
  system. No such contributor, however, shall be entitled,  on  retirement
  within  three  years of the date of his transfer, to a greater or lesser
  pension for such service rendered before his transfer than he would have
  received had he remained under  the  pension  provisions  of  the  first
  retirement system.
e.  1.  A  "New York city member," as defined in subdivision twenty of
  section two hundred forty-three of the military law, who shall  transfer
  to  another  retirement  system  pursuant to this section shall be given

  credit, upon such transfer, for the period of  military  duty  to  which
  such member would have been entitled pursuant to such subdivision twenty
  if  he  had  remained,  until  the  time  of death or retirement, in the
  retirement  system  from  which  he  shall  so  transfer.  The amount of
  reserves to be transferred under this section for such credit  shall  be
  computed in accordance with this section, shall include pension reserves
  for  such  military duty, and shall be credited by the retirement system
  to which the member shall transfer in accordance with the provisions  of
  such  system  governing credit for service in world war II, and the city
  of New York,  or  the  authority,  by  which  such  member  is  employed
  immediately  prior  to  the transfer, shall pay to the retirement system
  the amount of the reserve to be transferred on account of such  military
  service.
2.  Any  retirement system from which a member shall transfer pursuant
  to this subdivision shall have the right to require reasonable proof  of
  military  service,  pay  status,  and  any other information relevant to
  eligibility for such transfer of credit for military duty.
3. The provisions of this subdivision e shall apply  only  to  a  "New
  York  city member" who has rendered service as an officer or employee of
  the city of New York (or any agency thereof) or public corporation,  the
  officers  or employees of which are eligible for membership in a pension
  or retirement system maintained by such city, including  performance  of
  such  military  duty,  for at least fifty per centum of the time between
  his commencement of such service and the date upon which he has attained
  or shall attain age fifty-five.
f. Notwithstanding any other  provisions  of  law,  a  member  of  the
  retirement  system  in  the  employ  of the state on March thirty-first,
  nineteen hundred seventy, other than a member of  the  state  police  in
  collective negotiating units established pursuant to article fourteen of
  the  civil service law, who would have been entitled to transfer service
  credit from another retirement system pursuant to this  section  had  he
  made  a  timely  election,  may  obtain such credit by depositing in the
  retirement system an amount equal to the  contributions  withdrawn  from
  the  system  of  which he had been a member, with regular interest. Such
  deposit shall be made on or before March thirty-first, nineteen  hundred
  seventy-two,  provided,  however,  such member may elect to deposit such
  amount over a period of time no greater than the period for which credit
  is being claimed. Such  payments  must  commence  no  later  than  March
  thirty-first,  nineteen  hundred  seventy-two. If the full amount is not
  paid to the retirement system, the amount of service credited  shall  be
  proportional to the total amount of the payments made.
g. This subdivision shall apply only to individuals who, subsequent to
  vesting  in  a retirement system, transfer to a second retirement system
  whose governing laws require a greater number of  years  of  credit  for
  vesting  than those of the first system, and who, upon such transfer, do
  not have the number of  years  of  service  credit  that  is  ordinarily
  required to vest in such second retirement system.
1.  Upon  transfer, the number of years of service credit required for
  the transferred  individual  to  attain  vested  rights  in  the  second
  retirement  system  shall  be the same as the number of years of service
  credit  required,  under  applicable  law,  for  vesting  in  the  first
  retirement system.
2.  In  the event that an individual covered by this subdivision makes
  application to retire from such second system  prior  to  attaining  the
  amount  of  service  credit that would otherwise be necessary to vest in
  such second retirement system, and such individual is otherwise eligible
  to retire from such second system, the application shall be granted, and
  benefits shall be calculated pursuant to the applicable subdivisions  of

  this  section  on  the  basis of the actual amount of service credit the
  individual has accrued at the time of  retirement.  Transferred  service
  credit  shall  not be creditable under any plan in the second retirement
  system that it would not otherwise be creditable under.
h.  Notwithstanding  any  other provision of law to the contrary, with
  respect to transfers pursuant to this section which occur  on  or  after
  the  effective  date  of  the  chapter  of  the  laws  of  two  thousand
  twenty-three that  amended  this  subdivision,  no  determination  of  a
  reserve  pursuant  to  subdivision c of this section or transfer thereof
  pursuant to the first sentence of subdivision d of this section shall be
  required in the case of any transfer pursuant  to  this  section  (other
  than  a  transfer  from  the  New  York  state and local police and fire
  retirement system to either (1) the  New  York  city  police  department
  subchapter  two  pension  fund,  (2)  the  New York city fire department
  subchapter two pension fund or (3) the MTA police retirement program  or
  a  transfer  from  either  (i)  the  New  York  city  police  department
  subchapter two pension fund or (ii) the New York  city  fire  department
  subchapter  two  pension fund to either (A) the New York state and local
  police and fire retirement system  or  (B)  the  MTA  police  retirement
  program  or a transfer from the MTA police retirement program to the New
  York state and local police and fire retirement system) in the case of a
  member  with  less  than  ten  years  of  credited  service   with   the
  transferring  retirement  system  at the time the transfer is initiated.
  With respect to transfers pursuant to such subdivisions which  occur  on
  or  after  the effective date of the chapter of the laws of two thousand
  twenty-three that amended this subdivision, the transfer  of  a  pension
  reserve  shall  be  required when the member is transferring ten or more
  years of credited service from a public retirement system of  the  state
  to  any  other  public  retirement  system  of  the state, excluding any
  transfers within and between the New  York  city  employees'  retirement
  system,  the  New York city teachers' retirement system and the New York
  city board of education retirement system. For the purpose of giving the
  transferring member such status and crediting such service in the second
  retirement system as such member was allowed  in  the  first  retirement
  system  in  those  cases  to  which  this  subdivision  shall apply, the
  transfer shall be deemed complete upon receipt by the second  retirement
  system of:
1.  a  statement  from the first retirement system of the transferring
  member's date of membership in the first retirement system, tier status,
  service credited to such membership being transferred,  and  such  other
  information  as  the  second retirement system may require to effectuate
  the transfer;
2. such member's accumulated contributions from the  first  retirement
  system,  if  same  had not been previously withdrawn, or notice from the
  first  retirement  system  that   such   member   had   no   accumulated
  contributions,  or  notice  from  the  first retirement system that such
  member's accumulated contributions had been  withdrawn  and  the  amount
  thereof  and,  as  applicable, receipt from such member of such member's
  accumulated contributions and interest; and
3. the pension reserve in the case of a member who transfers in ten or
  more years of credited service,  except  when  transferring  within  and
  between  the  New  York  city employees' retirement system, the New York
  city teachers'  retirement  system  and  the  New  York  city  board  of
  education retirement system.
* i.  1.  Notwithstanding  any  other  law,  rule or regulation to the
  contrary, for any  police  officer  employed  by  the  division  of  law
  enforcement in the department of environmental protection in the city of
  New  York  transferring  from  the  New  York city employees' retirement

  system to the New York state and local police and fire retirement system
  after the effective date of this  subdivision  and  any  police  officer
  formerly  employed  by the division of law enforcement in the department
  of  environmental  protection  in  the city of New York having made such
  transfer, such police officer's  division  of  law  enforcement  in  the
  department  of  environmental protection in the city of New York service
  credit shall be deemed creditable  service,  in  such  police  officer's
  twenty  year or twenty-five year retirement plan, if such police officer
  has served for at least two years in such employment and if, within  one
  year  of  the  date  on which he or she first became a member of the New
  York state and local police and fire retirement  system  or  within  one
  year of the effective date of this subdivision, such member elects to do
  so.
2.  The  amount of such service credited to the member in the New York
  state and local police and fire retirement system plan shall not  exceed
  the  amount  of  service  credited  to  the  member in the New York city
  employees' retirement system plan.
3. If the member subsequently retires on an age-based retirement  plan
  in  the  New  York  state  and  local  police and fire retirement system
  instead of a twenty year or twenty-five year plan, the  full  amount  of
  service  credit  earned, as a police officer employed by the division of
  law enforcement in the department of  environmental  protection  in  the
  city of New York shall be granted.
4. In no event shall the division of law enforcement in the department
  of  environmental protection in the city of New York service credited to
  a member of the New York state and  local  police  and  fire  retirement
  system pursuant to this subdivision exceed a total of ten years.
5.  Notwithstanding  any other provision of law in this section to the
  contrary, the reserve on such member's  benefits  shall  be  transferred
  from  the  New  York  city  employees' retirement system to the New York
  state and local police and fire retirement  system  in  accordance  with
  subdivisions c and d of this section.
6.  No member who receives service credit pursuant to this subdivision
  shall be eligible to  receive  additional  service  credit  pursuant  to
  subdivision  b of section three hundred eighty-four-e of this article if
  his or her employer has elected to provide such service credit.
* NB Effective June 19, 2024