§ 409. Abandonment of unclaimed contributions; payment to the pension
accumulation fund. a. After at least five years have elapsed since the
separation from service of a member who has not vested, for any cause
other than death or retirement, the comptroller shall send a statement
to such person at his last known address setting forth the amount of the
accumulated contributions standing to his credit in the annuity savings
fund and give notice to said person that unless he demands payment of
said amount prior to a date at least one year from the date the notice
is given, said accumulated contributions remaining in the annuity
savings fund will be deemed abandoned and will be transferred to the
pension accumulation fund.

b. After the expiration of at least one year from the date the notice
is given, the comptroller shall publish in the state bulletin a list
setting forth the names of persons who have unclaimed accumulated
contributions in the retirement system. At the expiration of six months
from the date of the publication of such list the accumulated
contributions of the persons so listed shall be deemed abandoned and
shall be placed in the pension accumulation fund to be used for the
purposes of said fund.

c. Any accumulated contributions so deemed abandoned and transferred
to the pension accumulation fund may be claimed by the person who made
such accumulated contributions, or in the event of his death by his
estate or by such person or persons as he shall have nominated to
receive such accumulated contributions, by filing a claim with the
comptroller in such form and in such manner as may be prescribed by the
comptroller, seeking the return of such abandoned accumulated
contributions. In the event such claim is properly made the comptroller
shall pay over to the person or persons or estate making such claim the
amount of such accumulated contributions without interest. The payment
shall be made from the pension accumulation fund.