N.Y. Retirement & Social Security Law § 169: Reimbursement by participating employers for payments to certain state retired employees

§ 169. Reimbursement by participating employers for payments to

certain state retired employees. 1. Each participating employer of the

New York state employees' retirement system, as defined in subdivision

twenty of section two of this chapter, shall contribute to the cost of

providing supplemental pension payments to those state retired employees

who retire from service with such participating employers in the manner

provided in this section.

2. As soon as practicable after the close of each fiscal year of the

state, the comptroller shall determine the pro rata share of the cost of

providing such supplemental pension payments during such fiscal year to

be contributed by each such participating employer. Such pro rata share

shall be determined on the basis of the ratio which the total annual

compensation paid to members of the New York state employees' retirement

system by each such participating employer as of the close of the fiscal

year preceding such fiscal year, bears to the total amount of annual

compensation paid to members of such system by all such participating

employers as of such date.

3. The comptroller thereupon shall submit to the fiscal officer of

each such participating employer a statement of the amount to be

contributed by it pursuant to this section. Payment of the amount

specified in the comptroller's statement shall be made by such a

participating employer within sixty days after the receipt thereof. If

payment of the full amount of such obligation is not made within sixty

days after the receipt of such statement, interest at the rate of four

per centum per annum shall commence to run against the unpaid balance

thereof on the first day after such sixtieth day. While any such sum

shall remain due and unpaid the comptroller may refuse to audit any

claim for funds due to such participating employer from the state.

4. All amounts received by the comptroller from such participating

employers pursuant to this section shall be deposited in and credited to

the supplemental pension fund.