§ 167 — Supplemental pension fund

New York § 167

• Jurisdiction: New York
• Law RSS: Retirement & Social Security
• Art. 4: Supplemental Pension Act

Text

§ 167. Supplemental pension fund. 1. There is hereby established a\nspecial fund to be known as the supplemental pension fund. Such fund\nshall consist of such moneys as may be appropriated thereto by the\nlegislature, and all other moneys received for such fund from any other\nsource pursuant to law.\n 2. Subject to the provisions of the state finance law, the\nsupplemental pension fund shall be under the jurisdiction and control of\nthe comptroller, who shall be the custodian thereof. The fund shall be\nheld separate and apart from any other funds or moneys of the state and\nshall be used exclusively for the purpose of making supplemental pension\npayments to state retired employees and state retired teachers. The\ncomptroller shall have power to invest and keep invested moneys in the\nfund in accordance with the provisions of section ninety-eight of the\nstate finance law. Moneys of the fund shall be paid out only after audit\nby and on warrant of the comptroller.\n