2013 New York Consolidated Laws
RSS - Retirement & Social Security
Article 3-A - (150 - 155) REPORTING AND DISCLOSURE
154 - Reporting of member's benefit rights.

 
    §  154.  Reporting  of  member's  benefit  rights.  1. The head of the
  retirement system shall furnish annually to  any  member  of  a  plan  a
  statement indicating, on the basis of currently available information:
    (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.