21 CRR-NY 5024.1NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 21. MISCELLANEOUS
CHAPTER LVIII. NEW YORK STATE TEACHERS' RETIREMENT SYSTEM
PART 5024. ACCELERATED DEATH BENEFIT
21 CRR-NY 5024.1
21 CRR-NY 5024.1
5024.1 Implementation of accelerated death benefit.
This Part implements subdivision 9 of section 511 of the Education Law added by chapter 616 of the Laws of 1998. That provision enables certain members who are eligible to be retired for disability (disregarding any service requirement) to receive, while still living, the death benefit that would have been paid pursuant to Education Law, section 512 or Retirement and Social Security Law, section 448, 508 or 606, as applicable, had the member died on the member’s last day on the payroll in full pay status. In other words, the applicable death benefit is not paid after the member’s death but is accelerated and paid during the member’s lifetime. The accelerated death benefit provided pursuant to the provision is expressly in lieu of any disability retirement benefit, including any optional survivor benefit, to which the member would otherwise have been entitled. The member, however, is otherwise treated as having been retired for disability.
21 CRR-NY 5024.1
Current through June 30, 2021
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.