N.Y. General Business Law § 1313: Duty and liability of participating employers

§ 1313. Duty and liability of participating employers. 1.

Participating employers shall not have any liability for an employee's

decision regarding whether to participate in, or opt out of, the program

or for the investment decisions of the board or of any enrollee.

2. A participating employer is not establishing or maintaining the

program's payroll deduction IRA. A participating employer shall not be a

fiduciary, or considered to be a fiduciary, over the program. A

participating employer shall not bear responsibility for the

administration, investment, or investment performance of the program. A

participating employer shall not be liable with regard to investment

returns, program design, and benefits paid to program participants.