Part 5008 - Transfers of Membership

Section 5008.3 - Transfer to Another Public Retirement System in this State

(a) A member of this System who is also a member of another public retirement system in this State shall be eligible to transfer his/her membership in this System to such other retirement system, provided that:

(1) s/he withdraws from this System;

(2) at the time of withdrawal s/he notifies this System in writing of his/her intention to transfer;

(3) within one year of withdrawal, the member's accumulated contributions in this System are deposited with the other retirement system by this System or by the member, as applicable.

(b) A member who withdraws from this System prior to joining another public retirement system in this State shall be eligible to transfer his/her membership in this System to such other retirement system, provided that:

(1) s/he gives written notice to this System at the time s/he withdraws, of his/her intention to become a member of the other System; and

(2) within one year of withdrawal, the member's accumulated contributions in this System are deposited with the other retirement system by this System or by the member, as applicable.

(Statutory authority: Education Law §522; Retirement and Social Security Law §43)