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2020 New York Laws
GBS - General Business
Article 43 - New York State Secure Choice Savings Program
1305 - Risk Managemant.

Universal Citation:
NY Gen Bus L § 1305 (2020)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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§ 1305. Risk management. The board shall annually prepare, or cause to
  be  prepared,  and  adopt  a written statement of investment policy that
  includes a risk management and oversight program. This investment policy
  shall prohibit the board and the program from borrowing  for  investment
  purposes. The risk management and oversight program shall be designed to
  ensure  that  an effective risk management system is in place to monitor
  the risk levels of the program, to  ensure  that  the  risks  taken  are
  prudent  and  properly  managed,  to  provide  an integrated process for
  overall risk management, and to assess investment  returns  as  well  as
  risk to determine if the risks taken are adequately compensated compared
  to  applicable  performance  benchmarks  and  standards. The board shall
  consider the statement of investment  policy  and  any  changes  in  the
  investment policy at a public hearing.

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