NY A10415

Permits a retired member of the New York State Teachers' Retirement System who retired from Chittenango Central School District on July 1, 2003, to rescind their elected benefit payment option.

Allows rescission due to the conviction of the designated beneficiary on August 26, 2015, of multiple crimes including burglary, criminal use of a firearm, sexual abuse, stalking, unlawful imprisonment, menacing, and harassment committed against the retiree.

Requires the retiree to file written consent on a system-prescribed form within one year of the act's effective date to rescind the election.

Upon approval, the retiree shall receive the maximum single life benefit for the remainder of their life, retroactive to August 27, 2015, and all obligations to the beneficiary are discharged.

The fiscal note estimates no additional annual cost to implement this provision.