N.Y. Retirement & Social Security Law § 424: Distribution of earnings

§ 424. Distribution of earnings. At the close of each fiscal year,

the average rate of investment earnings of the common retirement fund

shall be computed by the actuary and certified to the comptroller. This

rate shall be determined from the investment earnings during the

calendar year, which ended three months prior to the close of the fiscal

year. The amount of such earnings attributable to each retirement system

shall be computed by the actuary and certified to the comptroller, who

shall thereupon credit each retirement system in accordance therewith.