Statute · New York Retirement & Social Security Law
N.Y. Retire. & Soc. Sec. Law § 424 — Distribution of earnings
N.Y. Retire. & Soc. Sec. Law § 424
- Type
- Statute
- Source
- New York Retirement & Social Security Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 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…
Citator
N.Y. Retire. & Soc. Sec. Law § 424 — Distribution of earnings is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.