LegalFix

154 - Reporting of Member's Benefit Rights.

NY Ret & SS L § 154 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a) the total accumulated plan benefits or the amount payable;

(b) the extent to which benefits are vested pension benefits;

(c) the contributions made by the member, plus interest, if any; and

(d) the name of the person designated by such member to receive a benefit upon the member's death. 2. The head of the retirement system shall, in a manner to be determined by the head of such retirement system, furnish to any member or beneficiary who requests the withdrawal of contributions made by the member, the payment of any benefit from the plan, or, in accordance with the provisions of the plan, an election as to the form of benefits to be made under the provisions of the plan (including an election of options, as the term options is defined in the relevant provisions of this chapter, the education law, or the administrative code of the city of New York), a written explanation of the effect of such withdrawal, payment, or election on the plan benefits of the member or beneficiary. Such explanation shall include a description of the various alternative forms of benefit payments, if any, which the participant may elect, and, to the extent practicable, shall be furnished to such member or beneficiary at least thirty days prior to the effective date of such withdrawal, payment, or election.

LegalFix

Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.

LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.

The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.

You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.

The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.

Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.

We have updated our Terms of Service, Privacy Policy, and Disclosures. By continuing to browse this site, you agree to our Terms of Service, Privacy Policy, and Disclosures.
154 - Reporting of Member's Benefit Rights.