NY S07855

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 the rescission due to the conviction of the retiree's nominated beneficiary on August 26, 2015 for multiple felonies including burglary in the first and second degree, criminal use of a firearm, sexual abuse, stalking, unlawful imprisonment, menacing, and harassment—all crimes committed against the retiree.

Retiree must file written consent on a form prescribed by the retirement system within one year of the act's effective date.

Upon approval, the retirement system's obligations to the beneficiary are discharged and the retiree receives the maximum single life benefit for the remainder of their life, retroactive to August 27, 2015.

The act takes effect immediately with an estimated no additional annual cost to the system.