N.Y. Comp. Codes R. & Regs. tit. 2 § 310.2

Current through Register Vol. 46, No. 42, October 16, 2024

Section 310.2 - Mortality tables for determination of benefits

(a) In accordance with the provisions of subdivision b(1) of section 11 and subdivision b(1) of section 311 of the Retirement and Social Security Law and upon the recommendation of the actuary of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System, the State Comptroller does hereby adopt mortality tables for the purpose of determining the benefits available to members of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System, which tables are filed in the office of the New York State Employees' Retirement System at 110 State Street, Albany, New York, and in the Office of the New York State Policemen's and Firemen's Retirement System at 110 State Street, Albany, NY, and in the Office of the Secretary of State in Albany, copies of which are hereinafter set forth (see Appendix 10-A, infra).

(b) Notwithstanding the above, the 1999 mortality tables (set forth in tables 44-48, Appendix 10-A) shall be applicable to individuals in all tiers of membership in the New York State and Local Retirement System and the New York State and Local Police and Fire Retirement System who retire on or after January 16, 1999 and before October 15, 2015. These 1999 tables may only be used with a 7% interest rate, and shall be the exclusive tables used with respect to individuals who retire under Article 15 of the Retirement and Social Security Law on or after January 16, 1999 and before October 15, 2015.

(c) Notwithstanding the above, the 2015 mortality tables (set forth in tables 49-53, Appendix 10-A) shall be applicable to individuals in all tiers of membership in the New York State and Local Retirement System and the New York State and Local Police and Fire Retirement System who retire on or after October 15, 2015. These 2015 tables may only be used with a 6.6% interest rate, and shall be the exclusive tables used with respect to individuals who retire under Article 15 of the Retirement and Social Security Law on or after October 15, 2015

N.Y. Comp. Codes R. & Regs. Tit. 2 § 310.2

Amended New York State Register December 16, 2015/Volume XXXVII, Issue 50, eff. 12/16/2015