New York § 4604 Contributions

New York Statutes

§ 4604 — Contributions

New York·Law ISC Insurance·Art. 46 Retirement Systems

§ 4604. Contributions.

(a)The participating employees, or the\nemployer, or both may contribute to the funds of the system and the\nrates of contribution shall be fixed by the trustees upon the basis of\nactuarial recommendations and shall be adequate to support the benefits\ngranted.\n (b) The trustees may, with the approval of the superintendent,\nincrease or decrease the rates of contribution whenever such action is\ndeemed by them necessary to preserve the solvency and equity of the\nsystem.\n

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§ 4604. Contributions. (a) The participating employees, or the\nemployer, or both may contribute to the funds of the system and the\nrates of contribution shall be fixed by the trustees upon the basis of\nactuarial recommendations and shall be adequate to support the benefits\ngranted.\n (b) The trustees may, with the approval of the superintendent,\nincrease or decrease the rates of contribution whenever such action is\ndeemed by them necessary to preserve the solvency and equity of the\nsystem.\n

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