N.Y. General Business Law § 1308: Benefits

§ 1308. Benefits. Interest, investment earnings, and investment losses

shall be allocated to individual program accounts as authorized by the

board pursuant to this article. An individual's retirement savings

benefit under the program shall be an amount equal to the balance in the

individual's program account on the date the retirement savings benefit

becomes payable. The state shall have no liability for the payment of

any benefit to any enrollee in the program.