Section 5018 - Actuarial Assumptions

Section 5018.5 - Interest Rate for Calculation of DeMinimis Service Retirement Benefit

The lump sum payment of a de minimis service retirement benefit pursuant to section 537 of the Education Law shall be calculated using the percentage interest rate on ten year United States treasury obligations as of January first of the calendar year of the effective date of retirement truncated to two decimal places.

(Statutory authority: Education Law §§501 [subd. 9(b), (c)], 508 [subd. 4], 517)