2015 New York Laws
RSS - Retirement & Social Security
Article 10 - (Retirement & Social Security) PAYMENT FOR BENEFIT IMPROVEMENTS
430 - Current payment for benefit improvements.

  430.  Current  payment for benefit improvements.  a. Whenever a new
  benefit or an improvement in any benefit  takes  effect  or  is  enacted
  after  July  first, nineteen hundred seventy-one which will result in an
  increase in cost for  contributions  to  an  actuarially  funded  public
  retirement  system by the state or a municipality thereof, such employer
  shall commence payment for such increased  cost  from  an  appropriation
  made  in the budget for the employer's fiscal year in which such benefit
  or improvement becomes effective. No such benefit or  improvement  shall
  become effective until such appropriation has been made and is available
  for  such  payment.  Within  ninety  days after notification that such a
  benefit or improvement has been or is  to  be  made,  the  head  of  the
  retirement  system  affected  shall  submit to the fiscal officer of the
  employer, or in the case of the state or the city of  New  York  to  the
  director  of the budget thereof, an estimate of the amount sufficient to
  provide for the initial actuarial payment to the  retirement  system  of
  all  additional  obligations  created by such benefit or improvement and
  such employer shall make payment of such amount to the retirement system
  during such employer's fiscal year in which such benefit or  improvement
  is  made  effective. In computing the amount to be paid by such employer
  during the normal valuation process for obligations attributable to  the
  fiscal  year  in  which  such  benefit  or improvement became effective,
  appropriate adjustments shall be made for amount already  paid  pursuant
  to this section.
b.  If payment of the full amount of an obligation required to be paid
  by subdivision a of this section is not made by a participating employer
  in a state retirement system, including the state  teachers'  retirement
  system,  by  the  close  of such employer's fiscal year, interest at the
  rate of six per centum per annum  shall  commence  to  run  against  the
  unpaid  balance  thereof  on the first day of the next succeeding fiscal
  year.
c. The comptroller or the retirement  board  of  the  state  teachers'
  retirement  system  shall have full power and authority to bring suit in
  the supreme court against any participating  employer  in  a  retirement
  system  headed  by  such  comptroller  or such board to recover any sum,
  payment of which is not made as herein required.   While  any  such  sum
  shall  remain  due  and  unpaid  the comptroller may refuse to audit any
  claim for funds due to such employer from the state.