New York Codes, Rules and Regulations › Title 21 - Miscellaneous › Chapter LVIII - New York State Teachers' Retirement System › Part 5001 - Service Credit › Section 5001.8 - Determination of attainment of 10 years of credited service for the purposes of cessation of regular three percent contributions of a member with a membership date on or after July 27, 1976 but before January 1, 2010

Current through Register Vol. 46, No. 28, July 10, 2024
(a) This section
				implements article 19 of the Retirement and Social Security Law, as amended by
				chapter 110 of the Laws of 2000, with respect to the cessation of regular three
				percent member contributions by a member with a membership date on or after
				July 27, 1976 but before January 1, 2010 by prescribing how the system shall
				determine when members have attained 10 years of credited service in cases
				where members are eligible to purchase credit for prior service.
(b) Subject to subdivisions (c) and (d) of
				this section, no prior service may be taken into account for the purposes of
				article 19 unless and until it has been paid for by the member.
(c) If, at the beginning of a plan year, a
				member has prior service which, together with the service credited to the
				member as of the beginning of such plan year, would give the member at least 10
				years of credited service, the member shall be deemed to have attained 10 years
				of credited service as of the beginning of such plan year, provided the member
				shall have claimed and paid for such prior service no later than the end (June
				30th) of such plan year. For example, a member has eight years of credited
				service at the beginning of a plan year and has the right to purchase up to
				three years of credit for prior service. If the member claims and pays for at
				least two years of credit for prior service by the end of the plan year, the
				member will be deem to have attained 10 years of credited service at the
				beginning of the plan year. If the member fails to claim and pay for at least
				two years of prior service by the end of the plan year, the foregoing rule will
				not apply.
(d) If, at the beginning
				of a plan year, a member has prior service which, together with the service
				already credited to the member at the beginning of a plan year and any service
				credited to the member during such plan year, would give the member 10 years of
				credited service at a point in time during such plan year, the member shall be
				deemed to have attained 10 years of credited service at such point in time
				during such plan year, provided the member shall have claimed and paid for such
				prior service no later than the end (June 30th) of such plan year. For example,
				a member has eight years and five months of credited service at the beginning
				of a plan year and has the right to purchase up to three years of credit for
				prior service. The member renders a full year of credited service during the
				plan year. The member claims and pays for one year of credit for prior service
				by the end of the plan year. The member will be deemed to have attained 10
				years of credited service at the point in the plan year when the member
				rendered four months of credited service for that plan year.