N.Y. EDN Law § 531

§ 531. Abandonment of unclaimed contributions or other benefits;\ntransfer to the pension accumulation fund. 1. Except as otherwise\nspecifically provided by this article, after at least seven years have\nelapsed since the member or contributor withdrew from service or ceased\nto be a teacher for any cause other than death or retirement or seven\nyears have elapsed from the date any other person became entitled to a\nbenefit pursuant to this article, the retirement board may send a\nstatement to such person at the last known address of the person setting\nforth the amount of the accumulated contributions or other benefits\nstanding to the credit of such person and give notice to said person\nthat unless he demands payment of said amount prior to a date at least\none year from the date the notice is given, said amount will be deemed\nabandoned and will be transferred by the retirement board to the pension\naccumulation fund.\n 2. The retirement board shall cause to be published at least once in\nan appropriate publication of the New York state department of\neducation, a publication for professional educators or in a periodical\nof general circulation, a list setting forth the names of persons who\nhave unclaimed accumulated contributions or other benefits in the New\nYork state teachers' retirement system.\n 3. At the expiration of six months from the date of the publication of\nthe notices required by subdivision two of this section, the accumulated\ncontributions or other benefits of the persons so listed shall be deemed\nabandoned and shall be placed in the pension accumulation fund to be\nused for the purposes of said fund.\n 4. Any accumulated contributions or other benefits so deemed abandoned\nand transferred to the pension accumulation fund may be claimed by the\nperson entitled to the accumulated contributions or other benefits, or\nin the event of his death by his estate or by such person or persons as\nhe shall have nominated to receive such accumulated contributions, by\nfiling a claim with the retirement board in such form and in such manner\nas may be prescribed by the retirement board, seeking the return of such\nabandoned accumulated contributions or other benefits without interest,\nand in the event such claim is properly made the retirement board shall\npay over to the person or persons or estate making such claim the amount\nof such accumulated contributions or other benefits without interest.\nThe payment shall be made from the pension accumulation fund.\n 5. Notwithstanding any provision of this section to the contrary and\nin lieu of any other procedure provided for in this section, the\nretirement board is authorized to mandate the distribution of unclaimed\namounts not to exceed one thousand dollars in each case to former\nmembers or contributors, or persons entitled to a benefit from the\nsystem, in cases in which at least seven years have elapsed since the\nmember or contributor withdrew from service or ceased to be a teacher\nfor any cause other than death or retirement or at least seven years\nhave elapsed from the date any other person became entitled to a benefit\nfrom the system pursuant to any provision of this chapter or of the\nretirement and social security law.\n