{"data":{"id":"us-nyc/n.y.c.-admin.-code-13-147","jurisdiction":"us-nyc","citation":"N.Y.C. Admin. Code § 13-147","heading":"§ 13-147 Right of certain employees to continue to maintain deposit of accumulated deductions.","body":"A person whose position in the New York city transit authority was abolished due to the sale of city owned transit power plants may, at any time prior to the termination of his or her membership, by notice filed with the executive director of the retirement system, elect to continue to maintain his or her accumulated deductions on deposit with the retirement system. Regular interest shall be credited on the accumulated deductions so continued on deposit. Upon filing of such election, membership in the retirement system shall cease. Such person may at any time prior to the payment of an annuity, as hereinafter provided, withdraw the accumulated deductions standing to the credit of his or her individual account. Notwithstanding the provisions of section 13-146 of this chapter, such a person shall receive an annuity of equivalent actuarial value to his or her accumulated deductions based on the appropriate mortality tables to be approved by the board of estimate upon written application to the board setting forth at what time, not less than thirty nor more than ninety days subsequent to the execution and filing thereof, he or she desires to receive such annuity, provided such person, at the time specified, shall have attained his or her minimum service retirement age.","path":["New York City Administrative Code","Title 13","Chapter 1: New York City Employees' Retirement System"],"source_url":"https://files.amlegal.com/pdffiles/NewYorkCity/Admin/XML.zip","current_through":"Local Law 2026/135 (enacted August 31, 2026)","vintage":"","retrieved_at":"2026-09-06T02:48:57Z","sha256":"3f8a20618c2d2c233b733a3eb14d56d80037038aa912b424fab8ef4c21a94d74","source_id":"us-nyc","stale":false,"prev":"us-nyc/n.y.c.-admin.-code-13-146","next":"us-nyc/n.y.c.-admin.-code-13-148"},"notice":"GroundRules: Original legal text. Not legal advice."}