Legislation

Search OpenLegislation Statutes

The Laws of New York
Consolidated Laws of New York
CHAPTER 16
Education
TITLE 1
General Provisions Article 1 Short Title and Definitions (ยงยง
ARTICLE 11
State Teachers' Retirement System For Public School Teachers
previous
SECTION 517
Annuity reserve fund; pension accumulation fund
up
ARTICLE 11
State Teachers' Retirement System For Public School Teachers
next
SECTION 518-A
Supplemental retirement allowance fund
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 518
Pension reserve fund
Education (EDN) CHAPTER 16, TITLE 1, ARTICLE 11
§ 518. Pension reserve fund. The pension reserve fund shall be the
fund from which shall be paid the pensions to new entrants on account of
which reserves shall be transferred from the pension accumulation fund.
Should any disability pension payable from said fund be canceled, the
pension reserve thereon shall thereupon be transferred from the pension
reserve fund to the pension accumulation fund. Should the pension of a
disability beneficiary be reduced as a result of an increase in his
earning capacity, the amount of the annual reduction in his pension
shall be paid annually into the pension accumulation fund during the
period of such reduction.