2013 New York Consolidated Laws
RSS - Retirement & Social Security
Article 6 - (190 - 203) SUPPLEMENTAL RETIREMENT ALLOWANCE ACT
199 - Reimbursement by participating employers for payments to certain state retired employees.

 
    §  199.  Reimbursement  by  participating  employers  for  payments to
  certain state retired employees.  a. Each participating employer of  the
  New  York  state employees' retirement system, as defined in subdivision
  twenty of section two of the retirement and social security  law,  shall
  contribute  to  the  cost of providing supplemental retirement allowance
  payments to those state retired employees who retire from  service  with
  such participating employer in the manner provided in this section.
    b.  As  soon as practicable after the close of each fiscal year of the
  state, the comptroller shall determine the pro rata share of the cost of
  providing such supplemental retirement allowance  payments  during  such
  fiscal  year to be contributed by each such participating employer. Such
  pro rata share shall be determined on the basis of the ratio  which  the
  total  annual  compensation  paid  to  members  of  the  New  York state
  employees' retirement system by each such participating employer  as  of
  the  close  of  the fiscal year preceding such fiscal year, bears to the
  total amount of annual compensation paid to members of  such  system  by
  all such participating employers as of such date.
    c.  The  comptroller  thereupon  shall submit to the fiscal officer of
  each such participating  employer  a  statement  of  the  amount  to  be
  contributed  by  it  pursuant  to  this  section.  Payment of the amount
  specified  in  the  comptroller's  statement  shall  be  made  by   such
  participating  employer within sixty days after the receipt thereof.  If
  payment of the full amount of such obligation is not made  within  sixty
  days  after  the receipt of such statement, interest at the rate of four
  per centum per annum shall commence to run against  the  unpaid  balance
  thereof  on  the  first  day after such sixtieth day. While any such sum
  shall remain due and unpaid the comptroller  may  refuse  to  audit  any
  claim for funds due to such participating employer from the state.
    d.  All  amounts  received  by the comptroller from such participating
  employers pursuant to this section shall be deposited in and credited to
  the supplemental pension fund.