Legislation

Search OpenLegislation Statutes

The Laws of New York
Consolidated Laws of New York
CHAPTER 51-A
Retirement & Social Security
ARTICLE 9
Common Retirement Fund
previous
SECTION 423-C
MWBE asset management and financial institution strategy
up
ARTICLE 9
Common Retirement Fund
next
SECTION 424-A
Use of placement agents or intermediaries prohibited
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 424
Distribution of earnings
Retirement & Social Security (RSS) CHAPTER 51-A, ARTICLE 9
§ 424. Distribution of earnings. At the close of each fiscal year,
the average rate of investment earnings of the common retirement fund
shall be computed by the actuary and certified to the comptroller. This
rate shall be determined from the investment earnings during the
calendar year, which ended three months prior to the close of the fiscal
year. The amount of such earnings attributable to each retirement system
shall be computed by the actuary and certified to the comptroller, who
shall thereupon credit each retirement system in accordance therewith.