Chapter 4 of the Laws of 2009, signed into law Feb. 25, 2009, delayed the effective date of Chapter 644 of the Laws of 2008 until Sept. 1, 2009. Chapter 644 of the Laws of 2008 amended various provisions of Title 15 of Article 5 of the General Obligations Law relating to both the content and execution of the statutory short form power of attorney.
Under Chapter 644, a "short form" power of attorney executed on or after Sept. 1, 2009 must also be accompanied by a Statutory Major Gifts Rider for an agent to have the power to make gifts and other transfers, including the authority to change or designate beneficiaries on retirement benefit plans.
Please Note: A properly executed statutory short form power of attorney, executed in accordance with the law in effect at the time of its execution prior to Sept. 1, 2009, remains valid and will be honored by the System.
Read the Fact Sheet Regarding Chapter 644 of the Laws of 2008
Special Durable Power of Attorney Form (Note: This form is limited to retirement benefit transactions and does not apply to any other matters.)