New York § 322 Members' contributions and their use; annuity reserve fund

New York Statutes

§ 322 — Members' contributions and their use; annuity reserve fund

New York § 322

Law RSSRetirement & Social Security

Title 4Funds of the System; Members' Contributions and Employers' Contributions

Art. 8New York State and Local Police and Fire Retirement System

This text of New York § 322 (Members' contributions and their use; annuity reserve fund) 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. Retirement & Social Security § 322 (2026).

Text

  § 322. Members' contributions and their use; annuity reserve fund.  a.\nThe annuity reserve fund shall be the fund from which shall be paid all\nannuities and all benefits in lieu of annuities, payable pursuant to\nthis article.\n  b. Upon retirement, a member's accumulated contributions shall be\ntransferred from the annuity savings fund to the annuity reserve fund.\nThey shall then be used to provide an annuity, the amount of which shall\nbe the actuarial equivalent of such accumulated contributions on the\nbasis of regular interest and the tables adopted by the comptroller\npursuant to this article.\n  c. The comptroller from time to time shall transfer from the pension\naccumulation fund to the annuity reserve fund, such amounts as are\nnecessary under this article.\n  d. If a member

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§ 322. Members' contributions and their use; annuity reserve fund. a.\nThe annuity reserve fund shall be the fund from which shall be paid all\nannuities and all benefits in lieu of annuities, payable pursuant to\nthis article.\n b. Upon retirement, a member's accumulated contributions shall be\ntransferred from the annuity savings fund to the annuity reserve fund.\nThey shall then be used to provide an annuity, the amount of which shall\nbe the actuarial equivalent of such accumulated contributions on the\nbasis of regular interest and the tables adopted by the comptroller\npursuant to this article.\n c. The comptroller from time to time shall transfer from the pension\naccumulation fund to the annuity reserve fund, such amounts as are\nnecessary under this article.\n d. If a member, retired for any reason, returns to active police or\nfire service and again becomes a member of the police and fire\nretirement system, his or her annuity reserve shall be transferred from\nthe annuity reserve fund to the annuity savings fund.\n