N.Y.C. Admin. Code § 13-638.7: § 13-638.7 Dual memberships.

a. Notwithstanding any inconsistent provision of this chapter, including section 13-184, or any other law, any person who is otherwise a member of the New York city teachers' retirement system, the New York city employees' retirement system, or the New York city board of education retirement system, but who is eligible to join any other retirement system maintained by the city due to a separate, concurrent eligible employment with a participating employer may become a member of the subsequent city funded retirement system provided such benefits in the first system of membership are suspended during their active membership in the subsequent retirement system, including any period of retroactive membership pursuant to subdivision b of this section.

b. Any such membership in the subsequent retirement system shall be elected in writing and filed with both retirement systems. Such election shall be effective on the earlier of the date the member is mandated into membership or the date the system receives an application for membership, as applicable, and shall be subject to the rights, benefits, privileges, and obligations of such membership, including payment of all required member contributions. Such election shall be irrevocable so long as the member is employed in the position eligible for membership in the subsequent system.

c. Suspension of membership shall result in suspension of all rights, benefits, privileges, and obligations in the suspended system, including loan eligibility and the accrual or ability to purchase service credit relating to the suspension period. Loan payments on outstanding loans shall remain in effect. Concurrent employment shall not provide eligibility for multiple death benefits from multiple retirement systems. Any applicable death benefits shall be from the system in which the member is active. The previous system shall return contributions plus interest as applicable.

d. Members in the New York city teachers' retirement system, the New York city employees' retirement system, and the New York city board of education retirement system may only accrue service credit in one system for any period of concurrent employment.

e. Nothing in this section shall be deemed to modify the requirements of section forty-three or six hundred forty-five of the retirement and social security law regarding transfer or reinstatement of membership or the requirements of any applicable transferred contributor laws.

(2023 N.Y. Laws Ch. 711, 12/8/2023, eff. 12/8/2023)