N.Y. Comp. Codes R. & Regs. tit. 21 § 5002.7

Current through Register Vol. 46, No. 53, December 31, 2024

Section 5002.7 - Payment for previous service for members with a date of membership on or after January 1, 2010, who are eligible to purchase such service

The amount of money to be paid for previous service which predates the member's date of membership in the case of members with a date of membership on or after January 1, 2010 (Tier V) shall be 3.5 percent of wages earned together with interest at the rate of five percent per annum compounded annually from the date of such service until the date of payment.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 5002.7