N.Y. Education Law § 518: Pension reserve fund

§ 518. Pension reserve fund. The pension reserve fund shall be the

fund from which shall be paid the pensions to new entrants on account of

which reserves shall be transferred from the pension accumulation fund.

Should any disability pension payable from said fund be canceled, the

pension reserve thereon shall thereupon be transferred from the pension

reserve fund to the pension accumulation fund. Should the pension of a

disability beneficiary be reduced as a result of an increase in his

earning capacity, the amount of the annual reduction in his pension

shall be paid annually into the pension accumulation fund during the

period of such reduction.