New York § 21-A Company pension plans; deductions from wages trust moneys; preference

New York Statutes

§ 21-A — Company pension plans; deductions from wages trust moneys; preference

New York § 21-A

Law DCDDebtor & Creditor

Art. 2General Assignments For the Benefit of Creditors

This text of New York § 21-A (Company pension plans; deductions from wages trust moneys; preference) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Debtor & Creditor § 21-A (2026).

Text

  § 21-a. Company pension plans; deductions from wages trust moneys;\npreference. Moneys contributed from wages or salary by an employee or\nformer employee under any retirement system or plan maintained or\noperated by a domestic corporation, association, co-partnership or\njoint-stock company, together with all accumulations of interest, shall\nbelong to the employee making the contributions and be deemed to be held\nin trust by the employer for the benefit of the employee. In all\ndistribution of assets of such an employer or former employer, whether\ninsolvent or otherwise, the amount so contributed, together with such\naccumulations of interest, shall first be paid to the employee or former\nemployee, his executors, administrators or assigns, before payment of\nunsecured creditors.\n

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§ 21-a. Company pension plans; deductions from wages trust moneys;\npreference. Moneys contributed from wages or salary by an employee or\nformer employee under any retirement system or plan maintained or\noperated by a domestic corporation, association, co-partnership or\njoint-stock company, together with all accumulations of interest, shall\nbelong to the employee making the contributions and be deemed to be held\nin trust by the employer for the benefit of the employee. In all\ndistribution of assets of such an employer or former employer, whether\ninsolvent or otherwise, the amount so contributed, together with such\naccumulations of interest, shall first be paid to the employee or former\nemployee, his executors, administrators or assigns, before payment of\nunsecured creditors.\n