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March 2006

2005 Pension Laws Enacted

Chapter 105

Provides to the survivors of eligible public employees who die while on active duty in the military, other than for training purposes, with the same death benefits to which such survivors would be entitled if the public employee was killed while working as a public employee.

Chapter 133

Extends the crediting rate of 8.25 percent on the fixed annuity and fixed tax-deferred annuity investments to June 30, 2006.

Chapter 150

Extends for a year the loan repayment waiver for members called to active duty in the military after Sept. 11.

Chapter 506

Authorizes TRS to establish a program that would allow members the option of authenticating and filing the appropriate retirement system documents electronically. Such a system would expedite processing member’s claims for TRS benefits.

Chapter 567

Increases the amount members and TRS may invest in certain financial
instruments. This law will speed up the increase in the number of investment choices in the TDA.

Chapter 570

Authorized certain school nurses to retroactively transfer from NYCERS to BERS where benefits are superior. This law sunset on Sept. 28, 2005.