N.Y. Retirement & Social Security Law § 801: Transfer rights

§ 801. Transfer rights. a. Except as provided in subdivision b of

this section, any member of a public retirement system who by reason of

simultaneous membership in two public retirement systems, would have

been entitled to transfer membership in a public retirement system

pursuant to any provision of law, but failed to make a timely election

to do so shall be entitled to transfer membership if written notice is

given to such system no later than January first, nineteen hundred

ninety-eight, or within one year of the enactment of a local law by the

city of New York for a member who: (i) is an employee of the city of New

York; or (ii) is not an employee of the city of New York, but has prior

employment with such city without which he or she would be ineligible

for the benefit provided by this section.

b. For a membership occurring prior to April first, nineteen hundred

ninety-three pursuant to any provision of law, a public retirement

system shall have the authority to grant relief from a failure to

transfer such membership if the member would have been eligible to

transfer such membership to the system granting relief if he or she had

joined the system granting relief on the commencement of employment,

provided that the member had been continuously (as defined in paragraph

two of subdivision b of section eight hundred three of this article)

employed in such employment from the commencement of eligible employment

until the member joined the system and the member files written notice

with the system no later than January first, nineteen hundred

ninety-eight, or within one year of the enactment of a local law by the

city of New York for a member who: (i) is an employee of the city of New

York; or (ii) is not an employee of the city of New York, but has prior

employment with such city without which he or she would be ineligible

for the benefit provided by this section.

c. As a condition for transfer pursuant to subdivisions a and b of

this section, the employee must deposit within one year of the filing of

the written notice of intention to transfer as provided in subdivision a

or b of this section, with the public retirement system of which the

employee is a member, an amount equal to the amount withdrawn from the

public retirement system of which the employee had been a member with

interest thereon as prescribed by the retirement system of which the

employee is a member. When such deposit has been made, a calculation and

transfer of the reserve on such employee's benefit shall be made.

d. Except as expressly provided herein, the applicable rules relating

to the transfer of membership, including the transfer of reserves, shall

apply to the transfer of membership permitted hereunder.

e. This section shall not be construed to continue membership in any

retirement system.