2 NYCRR — Department of Audit and Control

Chapter I AUDIT OF REVENUES AND ACCOUNTS PAYABLE FROM STATE FUNDS AND FUNDS UNDER ITS CONTROL

Part 1 GENERAL PROVISIONS

2 CRR-NY 1.1 Audit of payments and refunds by the Comptroller {#sec-2-crr-ny-1.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.1}

Section 111 of the State Finance Law provides that no moneys of the State and no moneys in possession or control of any officer or agency of the State in his or its representative capacity shall be paid or refunded except upon audit by the Comptroller. See also section 1 of article V of the State Constitution. The audit required by the Constitution and by statute is an audit prior to payment, and no payment should be made except in conformance to the rules of audit established by the State Comptroller.

2 CRR-NY 1.2 Audit of revenues and receipts by Comptroller {#sec-2-crr-ny-1.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.2}

The Comptroller is required by the Constitution and by section 8 of the State Finance Law to “audit the accrual and collection of all revenues and receipts” of any agency, from whatsoever source derived, in which the State has an interest direct or indirect.

2 CRR-NY 1.3 Forms and systems of accounts {#sec-2-crr-ny-1.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.3}

“The comptroller shall prepare and prescribe a system of accounting and a form of accounts to be installed and observed in every state department and in every state institution, which shall be accepted and followed by them respectively, after thirty days' notice thereof.” (State Finance Law, § 112.) Purchase orders, vouchers, travel orders and other accounting forms, or procedures, now employed by any State agency must not be changed except with the approval of the Comptroller.

2 CRR-NY 1.4 Certification of accounts and vouchers {#sec-2-crr-ny-1.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.4}

Payrolls, vouchers and other accounts submitted to the Comptroller for audit must be approved by the head of the appropriate department, or other person authorized by him by written direction filed with the Comptroller. (State Finance Law, § 110.)

2 CRR-NY 1.5 Expenditure of State moneys other than moneys appropriated {#sec-2-crr-ny-1.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.5}

No expenditure can be made from moneys received by or in behalf of the State and which are not appropriated by the Legislature until a schedule of positions and the salaries thereof, or rate of compensation where the position is not salaried, and of the amounts to be available for expense of other maintenance and operation, shall have been submitted by the agency affected to the director of the budget and his certificate of approval filed with the chairman of the Senate Finance Committee, the chairman of the Assembly Ways and Means Committee and the State Comptroller. However, this rule shall not apply to amounts expended by the Banking Department or the Insurance Department in the liquidation or rehabilitation of moneyed corporations or private bankers. (State Finance Law, § 53.)

2 CRR-NY 1.6 Duplicate checks {#sec-2-crr-ny-1.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.6}

Duplicate checks in lieu of issued checks lost or destroyed may be executed to persons entitled to payment thereof upon such proofs and conditions as the Commissioner of Taxation and Finance and the Comptroller may, in their discretion, require to indemnify the State against loss. (State Finance Law, § 101.)

2 CRR-NY 1.7 State papers and securities {#sec-2-crr-ny-1.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.7}

All original papers relating to the duties of the Comptroller, and all deeds to the State, abstracts of title, and State contracts, unless otherwise specially directed, must be deposited in the office of the Comptroller. All leases, bonds, mortgages, certificates of stock and other securities belonging to the State also must be deposited in the office of the Comptroller, but the Commissioner of Taxation and Finance, jointly with the Comptroller, shall have custody thereof. (State Finance Law, § 103.) Under this section all State contracts must be filed with the Comptroller, including agreements providing for payments to the state as well as those providing for payments by the State.

2 CRR-NY 1.8 Interest of certain persons in purchases prohibited {#sec-2-crr-ny-1.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.8}

No manager, trustee or other officer of any State charitable or other institution, receiving moneys from the State treasury for the maintenance or support in whole or in part of such institution, shall be interested in any purchase or sale by any of such officers. (State Finance Law, § 109.)

2 CRR-NY 1.9 Fraudulent bills or claims {#sec-2-crr-ny-1.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 1.9}

“A person who, knowingly, with intent to defraud, presents, for audit, or allowance, or for payment, to any officer or board of officers of the State, or of any county, town, city, village or fire district, authorized to audit, or allow, or to pay bills, claims or charges, any false or fraudulent verified, signed or certified claim, bill, account, writing or voucher, or any verified, signed or certified bill, account or demand, containing false or fraudulent charges, items or claims, is guilty of a felony.” (Penal Law, § 1872.)

Part 3 PERSONAL SERVICE

2 CRR-NY 3.1 Personal service paid from Federal moneys {#sec-2-crr-ny-3.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.1}

Expenditures for additional personal service, payable from Federal moneys granted or allocated as part of the expense of administering a Federal aid law or act of Congress must be made in accordance with schedules approved by the Director of the Budget. (State Finance Law, section 108).

2 CRR-NY 3.2 Approval by State Civil Service Commission {#sec-2-crr-ny-3.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.2}

The payment of salary or compensation to any person holding a position in the classified service is unlawful unless such person is certified by the State Civil Service Commission as lawfully employed in his position. Such certification may be made on an extended basis without time limitation or may be made for a limited period only. No further certification shall be necessary for the payment of compensation to such person so long as his status remains unchanged and during the stated limited period, if any. The Department of Civil Service shall examine the payroll of an agency at least once a year to determine that all persons listed on such payroll are employed in accordance with Civil Service Law and rules (Civil Service Law, section 100).

2 CRR-NY 3.3 Exceptions by Civil Service Commission {#sec-2-crr-ny-3.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.3}

Whenever the Civil Service Commission takes exception to the name of the person appearing on a payroll, submitted for certification, the salary of such person will not be included in the payment of the payroll. However, the name of the person so eliminated may be resubmitted for certification.

2 CRR-NY 3.4 Payroll certificates {#sec-2-crr-ny-3.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.4}

Every payroll must bear a certification signed by the head of the department concerned or by other persons to whom the authority to sign such certification has been delegated. Such delegation must be made by written direction of the head of the department, and filed in the Department of Audit and Control. The certification must state that individuals to whom payment is to be made “are employed solely in and have actually performed the proper duties of the positions and employments indicated, and that the persons described therein as ‘laborers' are employed at ordinary unskilled labor only; and said payroll for the period is approved at $__ and is certified for payment from the appropriations enumerated therein, and that the persons named in said payroll, except those appointed and employed as laborers, have taken and filed the constitutional oath, in accordance with the provisions of section 62 of the Civil Service Law, and that all persons so named have complied with pertinent requirements of the Civil Service Law” (State Finance Law, sections 109, 110).

2 CRR-NY 3.5 Computation of salary rate {#sec-2-crr-ny-3.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.5}

Employees will be paid biweekly an amount equal to 14/365ths (in leap year 14/366ths) of their annual salary. The daily rate will equal 1/365th (in leap year 1/366th) of the annual salary. When determining the annual salary rate of a per diem or hourly employee, 261 days or 2,088 hours will be used as the basis to determine the computation payable if services were required on a full-time annual basis.

2 CRR-NY 3.6 Notification of appointments, promotions, etc {#sec-2-crr-ny-3.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.6}

Formal notification of appointments, promotions, increases in compensation, resignations, leaves of absence and other changes in payroll status must be filed with the Comptroller's office. In the case of appointments, promotions and increases in compensation, the notification must show name of employee, title of position, rate of compensation, and date same is to become effective. Forms approved by the Comptroller should be used for all notifications required by this section.

2 CRR-NY 3.7 Payrolls prepared by Comptroller {#sec-2-crr-ny-3.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.7}

All payrolls will be prepared by machine in the Department of Audit and Control unless special permission is given for the submission of a payroll prepared at the agency.

2 CRR-NY 3.8 Payrolls prepared by departments {#sec-2-crr-ny-3.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.8}

Payrolls, other than those prepared by the Comptroller's office, must be submitted to the Comptroller in duplicate (original and carbon copy for payment). One copy of each such payroll must also be filed with the Employees' Retirement System.

2 CRR-NY 3.9 Sunday and holiday services {#sec-2-crr-ny-3.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.9}

Payrolls or other vouchers claiming compensation for services rendered by employee on Sunday or holidays must bear the following certificate signed by the head of the department or other duly authorized official thereof:

I hereby certify that the services performed on Sundays and holidays, as charged herein, were necessary and for the best interests of the State.

2 CRR-NY 3.10 [Repealed] {#sec-2-crr-ny-3.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.10}

2 CRR-NY 3.11 Delivery of checks to temporary and per diem employees {#sec-2-crr-ny-3.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.11}

Whenever practicable, delivery of payroll checks to temporary and per diem employees shall be made by someone other than the person charged with the responsibility for the preparation of the payrolls, or the time records on which such payrolls are based.

2 CRR-NY 3.12 Standard forms prescribed {#sec-2-crr-ny-3.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.12}

The forms to be used in connection with the preparation and audit of payrolls shall conform in all particulars to those prescribed by the Comptroller for new and definite purposes.

2 CRR-NY 3.13 Overtime meal allowances {#sec-2-crr-ny-3.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.13}

(a) Overtime meal allowances are paid through the New York State payroll system. Overtime meal allowances shall be granted when it is necessary and in the best interest of the State for an employee to work at least three hours overtime on a regular working day, or at least six hours on a day other than a working day. When an employee is required to work nine hours on a day other than a working day, two overtime meal allowances will be allowed.

(b) The overtime meal allowance rate is $6 for represented employees and Management Confidential employees.

(c) This section is not applicable to overtime meals of employees in travel status whose expenses are subject to the provisions of travel rules and regulations, nor to employees of departments, agencies, schools or institutions where meal service facilities are available and where it is the policy to provide meals for employees required to work overtime.

(d) The Office of the State Comptroller may issue further guidance in the form of manuals and guidelines from time to time.

2 CRR-NY 3.14 to 3.24 to 3.24 [Repealed] {#sec-2-crr-ny-3.14-to-3.24 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.14 to 3.24}

2 CRR-NY 3.25 to 3.26 to 3.26 [Repealed] {#sec-2-crr-ny-3.25-to-3.26 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.25 to 3.26}

WITHHOLDING TAX WITHHOLDING TAX

2 CRR-NY 3.51 Exemptions {#sec-2-crr-ny-3.51 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.51}

Everyone receiving salary or wages from the State must furnish his department with a signed withholding exemption certificate (form W-4 for Federal tax purposes and form IT-2104 for New York State purposes) relating to his status for the purpose of computing family exemptions. Persons who fail to file such exemption certificates are not entitled to exemptions and withholding will be at the rate of zero exemptions. Any change in exemption status should be reported to the employee's personnel office.

2 CRR-NY 3.52 Monthly withholding reports {#sec-2-crr-ny-3.52 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.52}

Each month the Comptroller will send to each withholding agency machine-prepared vouchers both for Federal and New York State taxes. These vouchers will show total deductions by payroll of all the agency's payrolls processed during the preceding month and also refunds processed to the date of the voucher. The net amount of each voucher, that is, the total of deductions less the total of refunds, represents the amount of taxes actually paid the Internal Revenue Service and the New York State Income Tax Bureau for the particular agency for the month involved. The withholding agency will keep these vouchers as its permanent records.

2 CRR-NY 3.53 Individual tax records {#sec-2-crr-ny-3.53 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.53}

(a) Agencies preparing their own payrolls must maintain an accurate record of salary and deductions for each individual, and must prepare forms W-2 and IT-2102 at the end of the year. Agencies whose payrolls are prepared under the 650 process receive listings periodically from the Comptroller bringing gross salary and deduction totals to date. Such agencies are responsible for carrying forward payroll totals and data in the prescribed manner, so that their records will reflect the totals of the individual W-2 and IT-2102 forms prepared by the Comptroller at the end of the year.

(b) In such cases where a particular agency whose payrolls are prepared in the Department of Audit and Control but have occasion to issue typewritten payrolls, the agency will be responsible for corrected forms W-2 and IT-2102, for the individuals appearing on the supplemental typewritten payrolls.

2 CRR-NY 3.54 Reports to be filed by the agencies {#sec-2-crr-ny-3.54 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.54}

(a) After the receipt of the machine-prepared vouchers for the month of December and the balancing of all tax records, each agency will submit:

(1) All forms W-2 copy A, form W-3 and a copy of the summary machine listing (or an adding machine tape) of the taxes withheld from the forms W-2 to:

District Director of Internal Revenue

161 Washington Avenue

Albany 1, New York.

(2) All forms IT-2102 copy 4, form IT-2103 and a copy of the summary machine listing (or an adding machine tape) of the taxes withheld from the forms IT-2102 to:

Department of Taxation and Finance

State Office Building

Albany, New York

(b) No quarterly reports or returns are required of State agencies for either tax.

2 CRR-NY 3.55 Maintenance {#sec-2-crr-ny-3.55 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.55}

In general, maintenance is taxable. However, in certain circumstances, when it is for the benefit of the employer, maintenance may not be taxable. These rules are applicable both to Federal and New York State taxes.

2 CRR-NY 3.56 [Repealed] {#sec-2-crr-ny-3.56 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 3.56}

Part 4 CONSTRUCTION AND REPAIR WORK

2 CRR-NY 4.1 Maintenance repairs—buildings {#sec-2-crr-ny-4.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 4.1}

Any minor repair, involving an alteration of buildings and not exceeding $5,000 in cost, may be progressed without special order and without public bidding. Any reliable person not in the employ of the State agency, or firm qualified to do the work, may be employed under informal agreement and the same may be engaged to furnish both materials and labor. In such case, the regular purchase order procedure shall be followed and the regular vouchers submitted to this office for audit and payment. Work in excess of $5,000 up to an amount of $50,000 may be done through special order (short form contracts). No such project exceeding $50,000 shall be undertaken through the special order system.

2 CRR-NY 4.2 Works of art {#sec-2-crr-ny-4.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 4.2}

Purchases and construction of works of art, as defined by section 40 of the Public Buildings Law shall be in compliance with the provisions of article 3 of such law.

2 CRR-NY 4.3 Relevant provisions of statutes {#sec-2-crr-ny-4.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 4.3}

Relevant provisions of certain statutes relating in whole or in part to construction and repair contracts are as follows:

(a) State Finance Law:

section 112; section 114; section 127; article IX, (contracts, comprising sections 135 to 146 inclusive).

(b) Canal Law:

section 21; section 22; sections 30 to 35 inclusive; section 110.

(c) County Law:

section 850.

(d) Education Law:

section 376.

(e) Environmental Conservation Law:

section 15-2307; section 17-1903; section 17-1907; section 17-1909.

(f) Executive Law:

section 313.

(g) General City Law:

section 20-e.

(h) General Obligations Law:

section 11-102.

(i) Highway Law:

section 10(4); section 12; section 19; section 38; section 39; section 40; section 59; section 61; sections 82 and 83 on Federal aid highways; section 233.

(j) Insurance Law:

section 2054; section 2505.

(k) Military Law:

section 181.

(l) Public Buildings Law:

section 8; section 9; sections 17 to 24; article 3, comprising sections 40 to 44.

2 CRR-NY 4.4 to 4.18 to 4.18 [Repealed] {#sec-2-crr-ny-4.4-to-4.18 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 4.4 to 4.18}

2 CRR-NY 4.19 [Repealed] {#sec-2-crr-ny-4.19 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 4.19}

Part 5 HIGHWAY AND BRIDGE WORK: CONSTRUCTION; IMPROVEMENT; MAINTENANCE

2 CRR-NY 5.1 Contracts with Federal aid {#sec-2-crr-ny-5.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.1}

If Federal funds are involved in the financing of a contract, a letter of authority to advertise, and a commitment of funds from the Federal Bureau of Public Roads and a concurrence in the award from the Federal Bureau of Public Roads are required.

2 CRR-NY 5.2 Purchase of railroad materials in the open market {#sec-2-crr-ny-5.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.2}

The procedure to be followed by the railroad companies in purchasing materials in the open market for use on State sponsored projects involving changes to railroad facilities is as follows:

(a)

(1) Upon the acceptance of a project estimate by the State, the railroad shall determine the extent of required material available in its stores. A stores charge of 15 per cent may be added to the cost of this material after its incorporation in the work.

(2) Substantial quantities of materials ordered under an annual contract for a specific project will be paid for at the cost provided for in such contract, plus necessary costs of transportation and inspection. This material shall be shipped direct to project and the 15 per cent overhead will not be allowed.

(3) All other materials required shall be grouped in a manner which would permit the solicitation of bids for each class of materials. Open market orders will be required for each group of materials having an estimated cost of $2,000 or more.

(4) Open market orders shall be numbered consecutively by projects. Each tabulation shall be tied in with the appropriate estimate item.

(5) All tabulations should show the following certification of the railroad company's purchasing agent or other responsible official:

I hereby certify that the foregoing is a correct tabulation of all bids received on the material listed above. The quotations are based on delivery of the material .

Recommend placing order with (Low bidder)

Value $______

Terms ______

Purchasing Agent

Dated ______

(b)

(1) Invitations to submit bids must be issued to at least five manufacturers or distributors of products or materials meeting the railroad company's general specification. If less than five invitations are issued, the reason for the limited canvass should be shown on the proposal form. In recognition of the fact that the railroad companies have adopted the products of certain manufacturers as an inflexible standard for signal and related facilities, the State will in these instances, waive the requirement for competition, providing that the proposed purchase is a reproduction of a product of the same producer, and accept a copy of railroad company's purchase order for such products. If the proposal of other than the low bidder is recommended for acceptance, a detailed explanation of the preference must be submitted by the Superintendent of Public Works. All tabulations must be accompanied by a copy of the proposal form, invitation and photostatic copy of each bid and/or declination.

(2) Prices must be based on delivery at the nearest point of the railroad on which the project is located and tabulation should show the estimated cost of transportation (for each bidder) at the rate of not to exceed 10 miles per ton mile from such point to the site of project, or the published tariff rate for that commodity. Specifically, the total for each bid should be adjusted to show total net cost of materials F.O.B. job.

(3) Delivery dates should be so arranged that materials will not pass through railroad stores, as the 15 per cent overhead will not be allowed on direct purchases.

(4) Materials purchased for specific State projects shall be consigned to the State of New York, Department of Public Works—in care of the railroad for the reason that the State will not accept billing for transportation taxes on such purchases. In issuing invitations to bid on these materials the railroad companies should not be influenced by the fact that a manufacturer is located on their own or affiliated lines. Invitations must be issued to any reputable producer or distributor of products meeting the railroad company's general specifications.

(c) In order to secure prompt consideration of the open market orders, the following procedure should be carefully followed:

(1) The railroad company shall submit to the State seven photostatic copies of each bid or declination, proposal form, invitation and certified tabulation.

(2) Distribution should be as follows:

Two copies to Deputy Chief Engineer, State Department of Public Works, Albany, N. Y.

One copy to Public Service Commission, Albany, N. Y. (if project is under jurisdiction of that commission).

Remaining copies to Department of Audit and Control, Albany, N. Y.

(d) The Department of Public Works and/or the Public Service Commission shall review the material so transmitted and forward same to the Department of Audit and Control with appropriate recommendations or comments.

(e) Upon approval of the Department of Audit and Control, the copies shall be distributed as follows:

One copy to each railroad company.

One copy to Deputy Chief Engineer, Department of Public Works, Albany, N. Y.

One copy to Public Service Commission, Albany, N. Y. (if P.S.C. project).

One copy to Director, Bureau of Contracts, Department of Public Works, Albany, N. Y.

One copy retained for files of the Department of Audit and Control.

2 CRR-NY 5.3 Maintenance, including ice and snow {#sec-2-crr-ny-5.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.3}

(a) The maintenance of State highways in towns and villages shall include the control of snow and ice. Such work may be done by a county, town, or incorporated village but the county has first preference to perform the work within its boundaries. Any county is authorized to enter into a contract with any town or incorporated village located within the county for the performance of the work of such snow and ice control as a subcontractor.

(b) The contract for such work of snow and ice control on State highways between the State of New York and a participating county is approved by the Department of Public Works and the Comptroller and filed in the Department of Audit and Control. Contracts are in effect for a period of three years and may, at the expiration of the first year of the term of the contract, be extended for an additional period of one year, provided such extension is approved by the Department of Public Works and by resolution of the legislative body of the county.

(c) State highways within cities may be maintained by either of the above methods or by agreement with the city pursuant to section 349-c of the Highway Law.

2 CRR-NY 5.4 [Repealed] {#sec-2-crr-ny-5.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.4}

2 CRR-NY 5.5 [Repealed] {#sec-2-crr-ny-5.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.5}

2 CRR-NY 5.6 [Repealed] {#sec-2-crr-ny-5.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.6}

2 CRR-NY 5.7 [Repealed] {#sec-2-crr-ny-5.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.7}

2 CRR-NY 5.8 [Repealed] {#sec-2-crr-ny-5.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.8}

2 CRR-NY 5.9 [Repealed] {#sec-2-crr-ny-5.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.9}

2 CRR-NY 5.10 [Repealed] {#sec-2-crr-ny-5.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.10}

2 CRR-NY 5.11 [Repealed] {#sec-2-crr-ny-5.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.11}

2 CRR-NY 5.12 [Repealed] {#sec-2-crr-ny-5.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.12}

2 CRR-NY 5.13 [Repealed] {#sec-2-crr-ny-5.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.13}

2 CRR-NY 5.14 [Repealed] {#sec-2-crr-ny-5.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.14}

2 CRR-NY 5.15 [Repealed] {#sec-2-crr-ny-5.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.15}

2 CRR-NY 5.16 [Repealed] {#sec-2-crr-ny-5.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.16}

2 CRR-NY 5.17 [Repealed] {#sec-2-crr-ny-5.17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.17}

2 CRR-NY 5.18 [Repealed] {#sec-2-crr-ny-5.18 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.18}

2 CRR-NY 5.19 [Repealed] {#sec-2-crr-ny-5.19 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 5.19}

Part 6 PAYMENTS OF VENDOR CLAIMS AND STATUTORY EXPENDITURES

2 CRR-NY 6.1 Standard forms for claims {#sec-2-crr-ny-6.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.1}

All claims against the State for the delivery of materials, supplies and equipment, for the rendition of services by nonemployees, or for sums due under construction contracts, employee reimbursements, or petty cash reimbursements must be rendered in a format approved by the Comptroller or on a vendor invoice used in the normal course of the vendor's business. Claimants may elect to submit claims in either an electronic format, which may include a data transmittal, an image or other approved format; or a paper format.

2 CRR-NY 6.2 General requirements for claims {#sec-2-crr-ny-6.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.2}

Each claim must be specific and submitted in compliance with State Finance Law § 109 or 109-a to the agency against whom the claim is made. Claims for services rendered or articles furnished must show when, where, to whom and under what authority the services or articles were rendered or furnished. Claims presented for supplies, materials and equipment must show a detailed description of each item, the quantity of units, the price per unit and the total thereof. Claims submitted for employee travel reimbursements must identify the distance traveled, between what places, the duty or business for the performance of which the expenses were incurred, and the dates and items for each expenditure. If a claim is submitted in paper format, the form must be typewritten or completed in ink. Certification of claims shall be governed by section 6.3 of this Part. If a claim is made for a purchase under contract, the claim must be sent by the vendor to the designated payment office designated by the agency in accordance with article 11-A of the State Finance Law, and the contract number must be given. If a claim is made for a purchase pursuant to a purchase order, the claim submitted must reference the purchase order in accordance with purchase order procedure. Each claim must contain an invoice number or other unique identifier to enable the identification of the payment issued in satisfaction of the claim. Claims lacking such notation will be considered incomplete and may not be processed.

2 CRR-NY 6.3 Certificate of claimant {#sec-2-crr-ny-6.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.3}

All claims submitted to the State must contain a certification by or on behalf of the party submitting the claim to the effect that the claim is just, true and correct, that no part has been paid, except as stated therein, that the balance therein stated is actually due and owing, and that taxes from which the State is exempt are not included therein; provided that no certification shall be required where a claim is submitted through an invoice used in the vendor's normal course of business. Each certification must be signed by the claimant, or authorized representative thereof, whose title must be shown in the space provided therefor. On electronic claims, the certification must include a valid electronic signature in compliance with article III of the State Technology Law, the Electronic Signatures and Records Act.

2 CRR-NY 6.4 Agency review of claim {#sec-2-crr-ny-6.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.4}

Upon receipt of a claim, the agency shall review the claim to determine whether it is due and payable in whole or in part under the applicable statute, appropriation, contract or purchase order.

2 CRR-NY 6.5 Agency claim certification {#sec-2-crr-ny-6.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.5}

The head of the department concerned, or such authority in the department as has been designated by the head of the department by a rule or written direction, must certify to the Comptroller that the claim as approved is just, true and correct and therefore appropriate to pay. The agency certifier should satisfy himself or herself that acceptable evidence of receipt and/or inspection is on file. The submission of claims by State agencies to the Comptroller's Office shall be made by an electronic transfer of information into the Statewide Financial System, either directly, or indirectly through the State agency's financial management system. The submission of claims shall be certified by the agency certifier by entry of the unique identification and password that identifies the agency certifier. This unique identification and password is provided by either:

(a) the Statewide Financial System for those agencies submitting information directly; or

(b) the agency's financial management system for those agencies submitting information indirectly.

Electronic certification by a designated officials shall be deemed the equivalent of a conventional written certification by such individuals and shall constitute such individuals' certification that the information entered into the Statewide Financial System, or the agency's financial management system, is correct and just and that payment is approved and the goods or services rendered or furnished are for use in the performance of the official functions and duties of the agency. The individual shall be subject to the same penalties for improper certification that would be applicable if the individual had made such certification in writing.

2 CRR-NY 6.6 Certification of internal controls over the payment process {#sec-2-crr-ny-6.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.6}

(a) Each agency must maintain adequate internal controls over the payment process to support the validity of the agency claim certification. The agency should establish sufficient internal controls over claims processing to ensure claims are appropriate to pay. These controls must include, but are not limited to, the following:

(1) to the extent feasible, separation of duties relating to vendor registration, ordering, receiving and payment functions;

(2) to the extent feasible, separation of on-line data entry of claims from claim certification functions; and

(3) security over authorized access to agency controlled systems in the form of operator identification and passwords.

(b) The commissioner or head of each agency will be required, annually or upon change of commissioner or agency head, to submit an internal controls certification to the Comptroller's office certifying that the agency has established such a system of internal controls over the payment process.

2 CRR-NY 6.7 Supporting documentation and retention of records {#sec-2-crr-ny-6.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.7}

(a) Any claim entered into the Statewide Financial System shall be supported by sufficient original source documentation including, but not limited to, a vendor invoice or a vendor claim and a receiving report.

(b) No hard copy material shall be delivered to the Office of the State Comptroller unless specifically requested by the Office of the State Comptroller. However, all such original source documentation and other agency records in support of financial transactions must be retained in accordance with records disposition schedules approved by the State Archives and Records Administration. Agencies must maintain effective audit trails to such records and upon request provide the records promptly to the State Comptroller via electronic transmission or hard copy.

2 CRR-NY 6.8 Appropriation titles {#sec-2-crr-ny-6.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.8}

All claims must identify the appropriation or appropriations being charged, and for such purposes, the appropriation titles furnished by the Comptroller must be utilized. Where articles purchased from two or more appropriations are billed on the same claim, the claim must show the amount chargeable to each appropriation in the space provided therefor.

2 CRR-NY 6.9 Claims for reimbursement of cash expenditures {#sec-2-crr-ny-6.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.9}

Claims for reimbursement must be supported by receipted bills maintained by the State agency. Claims for reimbursement to the petty cash account will name the petty cash account as the claimant. Except where otherwise specifically authorized, claims against the State should be paid only from established, authorized funds.

2 CRR-NY 6.10 Cash discounts {#sec-2-crr-ny-6.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.10}

It is the policy of the State to take cash discounts for which the State is eligible. The agency shall identify any discounts available and the conditions and restrictions applicable thereto and establish the extent to which the State qualifies for such discounts.

2 CRR-NY 6.11 Prepayment of certain expenses {#sec-2-crr-ny-6.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.11}

Claims for certain articles may be paid in advance of receipt. Such articles will be limited to articles normally prepaid, such as postage, subscriptions and rent. Appropriate documentation must be maintained at the agency.

2 CRR-NY 6.12 Agency reconciliation of claims to payments {#sec-2-crr-ny-6.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.12}

If the amount of any claim is reduced, or the claim is rejected in the Comptroller's audit, the certifying agency must notify the claimant. Subsequent to payment, the Statewide Financial System will provide each agency with a record of payments made on behalf of the agency. Agencies should use these records as a basis for posting and reconciliation to expenditure records.

2 CRR-NY 6.13 Petty cash account {#sec-2-crr-ny-6.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 6.13}

The head of a department or agency may request that a petty cash account be established for his or her department or agency in accordance with section 115 of the State Finance Law. The monies in the account shall be used in accordance with accounting policies and procedures established by the Comptroller.

Part 7 PURCHASE ORDERS, PURCHASE CONTRACTS, MISCELLANEOUS SERVICE CONTRACTS AND PURCHASE ORDERS

2 CRR-NY 7.1 Bids {#sec-2-crr-ny-7.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.1}

All bids shall be sealed. At least five bids from responsible vendors, agents, manufacturers or producers shall be invited, and as many more as is practicable. Any bid received subsequent to the specified date and time of bid opening shall be stamped with the time received, rejected and returned to the bidder. Bids shall be tabulated by item number and unit price in such form as to afford a basis for strict comparison of prices at the time and place of opening. Method of award shall be stated in proposal and prices requested shall be net including transportation and delivery charges fully prepaid by the bidder F.O.B. point of destination. Where bids are secured by departments or other agencies all original bids, declinations to bid, copy of specifications, list of those invited to bid, copy of advertisement, if any, with publisher's certificate attached, correspondence and other papers thereto pertaining, including a complete explanation of rejection of lower bids shall be promptly forwarded to the Executive Department, Office of General Services, with all copies of the order, accompanied by a statement, signed by an individual duly authorized to open bids, to the effect that all bids timely received were opened publicly at the time and place specified in the proposal, and that all timely bids received appear on the tabulation.

2 CRR-NY 7.2 Contracts, prior approval by Comptroller {#sec-2-crr-ny-7.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.2}

(a) Before any contract made for or by any State department, board, officer, commission or institution, shall be executed or become effective, when such contract exceeds the amount set forth in section 112 of the State Finance Law, or in the case of the State University, those amounts set forth in section 355(5) of the Education Law, or whenever an amendment to a contract causes such contract to exceed the statutory threshold approval amount, it shall first be approved by the Comptroller and filed in the Department of Audit and Control.

(b) Each contract shall be writing and of a form satisfactory to the Comptroller and shall contain certain general clauses which have been approved by the Attorney General and the Comptroller, commonly known as Appendix A to State contracts, which may be amended by them from time to time.

(c) All required copies of the contract and signature pages signed by all parties thereto shall be submitted to the Comptroller for approval accompanied by advice as to appropriation chargeable. For bid requirements on competitive awards see section 7.1 of this Part. The Comptroller's contract number will be assigned and affixed to each copy of the contract and one copy thereof retained for the Comptroller's files. In addition, all signature pages must include the Comptroller's contract number.

2 CRR-NY 7.3 Award of contracts; purchases under bids {#sec-2-crr-ny-7.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.3}

No contract shall be let to a bidder other than the lowest responsible bidder without the written approval of the Comptroller. (State Finance Law, section 174) In any case where an award is requested to other than the lowest bidder, a clear and full explanation in duplication approved by the head of the department or other agency concerned must accompany the request for approval, one copy of which will be filed with the Comptroller.

2 CRR-NY 7.4 Purchase orders on approved contracts {#sec-2-crr-ny-7.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.4}

Notices of contract awards issued by the Office of General Services cover contracts for material, supplies and equipment which have been approved by the Comptroller. When purchase orders are issued in accordance with the terms of such notice sheets, Comptroller's copy shall be sent directly to the Department of Audit and Control with the Comptroller's contract number and the Office of General Services group number indicated thereon.

2 CRR-NY 7.5 Pre-audit by Comptroller {#sec-2-crr-ny-7.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.5}

(a) When prior approval is required of purchases under bids, all documents required for the audit and approval of any contract for, or other purchase of, materials, equipment and supplies, under competitive bidding, including bids, copy of advertisement, if any, and other papers required under section 7.1 shall be submitted to the Comptroller, together with any contract or order pertaining thereto, after action by the Commissioner of the Office of General Services.

(b) If a State agency is exempt from the jurisdiction of the Commissioner of the Office of General Services, the contract, order, bids and other papers shall be forwarded directly to the Comptroller. No purchase order shall be issued in connection with any contract until the Comptroller's contract number appears thereon. On centralized purchase items this number shall be furnished by the Commissioner of the Office of General Services when he forwards the award list; in the other cases, Comptroller shall notify the State agency of the contract number assigned. The contract number shall appear on vouchers when present for payment. Agency open market purchases which include items under State contract will not be allowed unless the purchase order is approved by the Commissioner of the Office of General Services. Approval of such purchases may be withheld pending receipt of a waiver from the contractor.

2 CRR-NY 7.6 Items manufactured by correctional institutions {#sec-2-crr-ny-7.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.6}

Articles required by State agencies which are manufactured by institutions of the Department of Correctional Services shall be purchased from the Department of Correctional Services at prices fixed by the Commissioner of the Office of General Services and the Commissioner of Correctional Services, unless a release certifying that the articles cannot be furnished is issued by the Commissioner of Correctional Services. This does not apply to printing. (Correction Law, sections 184, 186.)

2 CRR-NY 7.7 Purchase orders involving labor and service contracts {#sec-2-crr-ny-7.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.7}

When labor is a major part of a purchase order or contract (exclusive of contracts for construction and repair work which are covered in Part 4 of this Title) such purchase orders or contracts do not require approval of the Office of General Services and shall therefore be forwarded directly to the Comptroller. Competition is required on all such transactions which lend themselves to competition, and prior approval of the Comptroller is also required when the amount thereof exceeds $1,000. When it can predetermined from past experience or knowledge of anticipated cost that charges in the aggregate for a certain service will exceed $1,000 in a given fiscal year, such transactions also shall be subject to contract, competitive bid requirements and prior approval of the Comptroller. It is an administrative agency responsibility to obtain competitive quotations or bids on transactions of $1,000 or less when it is deemed in the best interest of the State to do so. However, prior approval of the Comptroller is not required.

2 CRR-NY 7.8 Purchase order {#sec-2-crr-ny-7.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.8}

(a) All purchase orders shall be on a form authorized by the Comptroller. No purchase liability shall be incurred except by issuance of a purchase order. When, in cases of emergency, it is necessary to issue a verbal order, such verbal order shall be immediately confirmed by a regular written order stamped “Confirming”. Comptroller's copies only of all purchase orders shall be filed with the Comptroller except when all copies of purchase orders are required to be submitted for prior approval of the Comptroller by sections 7.5 and 7.7 of this Part, or when the rules and regulations of the Office of General Services requires other papers to be submitted to the Comptroller. However, purchase orders less than $25 are not required to be filed in the Department of Audit and Control. On such transactions, if a prison release and/or release from the Industries of the Blind of New York, Inc. are required, such release or releases shall be submitted with applicable vouchers. Such exemption or waiver of requirement from filing purchase orders does not apply to purchases of items currently under contract, nor does it apply to orders in connection with agency bid openings under which a particular award may be less than $25.

(b) Purchase orders are not required to be filed in the Department of Audit and Control for transactions for which a Contract Encumbrance and Adjustment Form (AC 340) is required or for transactions chargeable of the following codes, regardless of amount:

(01) Personal service—all codes.

(02) Traveling expenses; codes 02-01 through 02-06 and 02-11 for service station purchases; 02-13 Repairs less than $300 for passenger automobiles with less than 50,000 miles; less than $100 for passenger automobiles with 50,000 miles or more, 02-14, 02-21 and 02-22.

(03) Automotive expense; 03-01 (service station purchases); 03-03 (repairs less than $100); 03-04 Storage.

(04) General office supplies and expense; 04-03 (Fire permits only).

(05) Printing and advertising; 05-09 Advertising space.

(06) Communication—all codes, including freight, express and cartage charges regardless of the code classification chargeable, except freight or cartage on coal.

(07) Fuel, light, power and water; 07-04, 07-06 and 07-09.

(08) Food for persons; 08-10 Overtime meal allowances.

(11) Medical, surgical and laboratory supplies and expenses; 11-04 Outside hospital service.

(14) Special supplies and expense; 14-02 Board of Inmates in outside institutions and homes; 14-07 Refunds and reimbursements; 14-10 Cash to outgoing patients; 14-21 Tuition and expense for specialized training; 14-22 Moving expenses of State employees; 14-27, and 14-41 through 14-45.

(17) Special departmental charges—all codes.

(22) Local Assistance Payments—all codes.

(23) Fixed charges—all codes.

(24) Debt service—all codes.

(25) Capital construction acquisition of and, building—all codes.

2 CRR-NY 7.9 Contents of purchase orders {#sec-2-crr-ny-7.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.9}

All purchase orders shall show clearly in the spaces provided therefor, quantity, grade, discount terms, point of delivery, shipping terms, and the code of the account chargeable with the expenditure. Reference shall be made to the Comptroller's contract number (section 7.5 of this Part) on all purchase orders issued in accordance with a written contract previously filed in this office.

2 CRR-NY 7.10 Comptroller's approval of purchase orders {#sec-2-crr-ny-7.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.10}

All copies of the purchase orders shall be submitted for prior approval of the Comptroller when the amount of the proposed order or orders exceed $1,000, and is not covered by a contract approved by the Comptroller. The Comptroller's copy only of the purchase order is submitted under the following conditions:

(a) when ordering under a contract previously approved by the Comptroller;

(b) when ordering merchandise from the central stores and State institution industries; and

(c) when ordering merchandise in an amount less than $1,000, except when the rules and regulations of the Office of General Services require bids and additional papers to be filed with the Comptroller.

2 CRR-NY 7.11 Revision or cancellation of purchase orders {#sec-2-crr-ny-7.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.11}

Requests for revision or cancellation of purchase orders on file with the Comptroller shall be submitted on a “Purchase Order Change Notice Form” bearing detailed explanation. Change orders cancelling purchase orders will not be accepted for the purpose of freeing funds. When a cancellation is made with the Comptroller, it must be made with the vendor.

2 CRR-NY 7.12 Orders shall be to specific dealers {#sec-2-crr-ny-7.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.12}

Purchase orders not executed to a specified manufacturer or dealer are regarded as blanket requests and shall not be accepted.

2 CRR-NY 7.13 Availability of funds {#sec-2-crr-ny-7.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.13}

No purchase order shall be issued, nor shall any be accepted by the Comptroller, which is in an amount in excess of the unencumbered balance of the appropriation or segregation thereof, chargeable with the expenditures.

2 CRR-NY 7.14 Equipment acquisitions {#sec-2-crr-ny-7.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.14}

No financed equipment acquisition will be approved by the State Comptroller pursuant to section 112 of the State Finance Law, other than for the State University of New York or for the City University of New York or for the State Legislature, unless the outright purchase cost of such equipment is more than $250,000. Multiple items of the same type of equipment, or related items of equipment, procured pursuant to a single request for proposal may be grouped under one or several contracts, as part of a procurement package to reach the aforementioned dollar level.

2 CRR-NY 7.15 Exemptions from the requirements of article 4-C of the Economic Development Law {#sec-2-crr-ny-7.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.15}

In light of the terrorist attack in New York City on September 11, 2001 and the declaration of a disaster emergency by the Governor, the Comptroller hereby exempts all contracts deemed necessary to address the disaster emergency from the publication requirements contained in article 4-C of the Economic Development Law.

2 CRR-NY 7.16 to 7.19 to 7.19 [Repealed] {#sec-2-crr-ny-7.16-to-7.19 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 7.16 to 7.19}

Part 8 TRAVELING EXPENSES

2 CRR-NY 8.0 General {#sec-2-crr-ny-8.0 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.0}

(a) Of necessity these rules and regulations are general in nature because of many varying conditions existing in different State agencies. To carry out the mission of using travel expense funds economically, agencies are responsible for:

(1) authorizing travel only when necessary;

(2) maintaining proper control to see that travelers are not in a travel status any longer than assignments require;

(3) selecting the method of travel whether air, train, bus, State or personally owned or rental vehicles;

(4) designating the official station of each employee in the best interests of the State;

(5) authorizing attendance at conferences, seminars, and similar events.

(b) The Comptroller, in consultation with the Director of Employee Relations, may periodically issue guidelines to define in greater detail the requirements governing travel expenses.

2 CRR-NY 8.1 Expenses {#sec-2-crr-ny-8.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.1}

(a) Reimbursable expenses.

Agencies are responsible to ensure that only actual, necessary and reasonable expenses are reimbursed for official travel. A specific statement of the official business for which expenses were incurred is required under section 109 of the State Finance Law. Travel expenses of a State employee incurred when traveling from his or her home or official station to report for promotional examinations or related interviews may be reimbursed. (See also section 8.13 of this Part.)

(b) Nonreimbursable expenses.

Travel shall be by the most direct route. Any person traveling by an indirect route shall assume any extra expense incurred. Appropriate consideration will be given for airline travel through hub airports. Expenditures for laundry, valet service, entertainment, and other personal charges will not be reimbursed.

2 CRR-NY 8.2 Official station defined; limitations on traveling expenses imposed thereby {#sec-2-crr-ny-8.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.2}

(a) Official station.

(1) The official station of every employee shall be designated by the head of the agency. Such designation shall be in the best interests of the State and not for the convenience of an employee or to maximize travel expense reimbursement. Every designation of the official station of an employee shall be subject to review by the Comptroller. If any designation of an official station is found to be inconsistent with the provisions of this Part, a request for travel expense reimbursement based upon such an inconsistent designation may be disapproved by the Comptroller.

(2) No transportation costs will be allowed between any employee's place of residence and his or her official station. The place of residence is considered to be the city or town in which the employee primarily resides. Agency management retains discretion in allowing transportation costs to locations within the proximity of the official station.

(b) Subsistence charges.

The expense of meals or lodging within the immediate vicinity of the official station will not normally be reimbursed unless it is in the best interest of the State as determined by the head of the agency's finance office and subject to audit by the Comptroller.

2 CRR-NY 8.3 Transportation by common carrier {#sec-2-crr-ny-8.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.3}

(a) General.

Travel should be by the most economical method. Coach and excursion fares should be used whenever possible. The passenger's coupon or receipt shall accompany the traveler's expense voucher. Customary and reasonable tips for porters or sky caps are allowed.

(b) Travel by air.

(1) Air travel should be used only in those instances where it is clearly in the State's interest to do so.

(c) Taxicab charges.

Appropriate taxicab charges will be allowed. Reasonable customary tipping will be allowed.

2 CRR-NY 8.4 Transportation by personally owned vehicle or airplane {#sec-2-crr-ny-8.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.4}

(a) Transportation by personally owned vehicles.

(1) Limitations on use. It is the responsibility of agencies to prevent incurring additional expense through the use of personally owned vehicles when common carrier service can be used without undue delay in conducting official business.

(2) Rates.

(i) The rate for authorized use of a personally owned vehicle will be allowed according to the applicable current employee collective bargaining agreement or as promulgated by the Comptroller. If a collective bargaining agreement applies, the traveler shall be entitled to expense reimbursement either at the mileage rate set forth in the collective bargaining agreement or, if the traveler is not represented by an employee organization, at the mileage rate established under regulations of the Internal Revenue Service for the deduction of business expenses.

(ii) In a case where a common carrier could have been used but the traveler chose, for his own or her own convenience, to use a personally owned vehicle, travel expense reimbursement will be limited to an amount equal to the common carrier coach fare for the same route except when common carrier service would have caused the traveler to leave or arrive home at an unreasonable hour.

(3) Charges.

(i) Parking charges – meter, day and overnight charges. When a traveler is in an official travel status, necessary parking charges will be allowed.

(ii) Charges for gasoline, accessories, repairs, depreciation, anti-freeze, towage and other similar expenditures will not be allowed for personal vehicles.

(4) Additional subsistence expense incurred as a result of using a personally owned vehicle when such use is not in the best interest of the State shall be disallowed.

(b) Tolls.

(1) In addition to the mileage rate payable in accordance with subdivision (a) of this section, reimbursement for tolls paid while traveling by personally owned automobile or motorcycle will be allowed.

(c) Travel by personally owned motorcycle will be approved at either the rate agreed to in the employee collective bargaining agreements or the rate established under Internal Revenue Service regulations covering deductible business expenses, whichever is higher.

(d) Travel by privately owned airplane.

It is the responsibility of agencies to prevent incurring additional expense through the use of personally owned airplanes when common carrier service can be used without undue delay in conducting official business. In cases where travel by air is justified, the expenses of authorized use of a privately owned airplane on State business will be reimbursed at the same mileage rate is in effect under Internal Revenue Service regulations covering deductible business expenses; except that if commercial air transportation is available between points of travel and no official passengers are carried on a traveler's personally owned airplane, travel expense reimbursement shall be limited to either the published coach fare for commercial air travel or the mileage rate established under Internal Revenue Service regulations, whichever is less. If a traveler is authorized by the agency head to use his or her privately owned plane on State business, his or her liability insurance policy must be currently in force, provide coverage of at least $1,000,000 and include the State of New York as a named insured. The insurer must be licensed by the State Insurance Department to conduct business in New York State. All claims for expense reimbursement based on the use of a personally owned airplane shall be subject to review by the Comptroller, and reimbursement may be disapproved if determined to be against the best interests of the State.

2 CRR-NY 8.5 Transportation by State-owned vehicle {#sec-2-crr-ny-8.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.5}

If a traveler uses a State-owned vehicle, it should be indicated on the voucher. Garage and parking charges, and tolls will be reimbursed. Auto emergency supply items will be reimbursed only if documented by appropriate receipt attached to the travel voucher.

2 CRR-NY 8.6 Transportation by rental vehicle {#sec-2-crr-ny-8.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.6}

Where reimbursement is sought for the expense of using a rental vehicle, the appropriate receipt must be submitted with the travel voucher. Reimbursement will be allowed for a period not to exceed 10 days for rental vehicles used within the State of New York, unless there are monies specifically appropriated or the vehicle is rented pursuant to an OGS lease contract. There is no time limitation on rental vehicles used for out-of-State travel. (See State Finance Law, section 43.)

2 CRR-NY 8.7 Meals and lodging {#sec-2-crr-ny-8.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.7}

(a) General limitations.

Meals and lodging within the immediate vicinity of a traveler's official station or place of residence are not normally allowed. (See section 8.2 of this Part.)

(b) Time limits on meal allowances.

(1) Breakfast expenses will be reimbursed for the day the trip begins if an employee has to leave at least one hour before his or her normal work starting time.

(2) Dinner expenses will be reimbursed for the day the trip ends if an employee returns at least two hours later than his or her normal work ending time.

(3) Meals in other circumstances will be allowed at the discretion of the head of the agency's finance office.

(c) Allowance to employees on Saturdays, Sundays and holidays.

Employees will be allowed their expenses for meals and lodgings on Saturdays, Sundays and holidays while engaged in work in the field. When authorized by his or her agency, an employee will be reimbursed for expenses incurred while returning home over the weekend or on holidays.

(d) Per diem rates.

(1) The daily rates for hotel or motel lodging, meals, and incidental expenses for travel assignments will be allowed in accordance with the current employee collective bargaining agreements or, for travelers not represented by an employee organization, by guidelines promulgated by the Comptroller in consultation with the Director of Employee Relations.

(2) When an employee is in travel status for less than a full day and incurs no lodging charges, individual meal charges will be allowed according to rates of the current employee collective bargaining agreements or, for travelers not represented by an employee organization, by guidelines promulgated by the Comptroller in consultation with the Director of Employee Relations.

(3) Employees will receive an additional travel expense reimbursement for each weekend they are in overnight travel status in accordance with the applicable collective bargaining agreement or, for travelers not represented by an employee organization, by guidelines promulgated by the Comptroller in consultation with the Director of Employee Relations.

(e) Original receipts for hotel, apartment, rooming house, specifying date of occupancy and rate paid are required.

(f) Daily allowances may be granted to members of boards of visitors, boards of trustees, regents, members of visiting committees, and such other part-time nonsalaried persons engaged in State service to provide for their travel-related expenses.

(g) Tax on occupancy of hotel rooms.

Lodging accommodations for State travelers on official State business are exempt from room occupancy taxes in the State of New York. Travelers should use a State corporate credit card or an exemption certificate in the form prescribed by the Comptroller or the Commissioner of Taxation and Finance to claim exemption.

2 CRR-NY 8.8 Telephone charges {#sec-2-crr-ny-8.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.8}

Claims for reimbursement for long distance telephone calls for official business will be reimbursed.

2 CRR-NY 8.9 Miscellaneous charges {#sec-2-crr-ny-8.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.9}

(a) Charges for transfer of baggage.

Charges for transfer of baggage will be reimbursed.

(b) Assistance charge.

Whenever employees are traveling with patients, necessary expenses for assistance will be allowed.

(c) Expenses for conferences, seminars and other training activities.

A travel voucher for expenses incurred when attending a conference or meeting of an association or organization, a seminar, or a similar event shall be accompanied by a copy of the official program for the event. Original receipts and sufficient information to justify both the travel and other expenditures are required. For State-related conferences, seminars or other training activities, the head of the agency's finance office is authorized to approve reasonable rates that exceed the maximum allowable per diem rates set forth in the Comptroller's guidelines.

(d) Other charges.

The expense of acquiring necessary supplies or other necessary and reasonable charges incidental to travel may be approved by the agency.

2 CRR-NY 8.10 Presentation of claims for travel expenses {#sec-2-crr-ny-8.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.10}

A travel expense voucher in the form prescribed by the Comptroller shall be used for all claims for travel expense, and each voucher shall contain the information required by this section. The voucher shall show purpose of travel, dates and items of expenditure, points between which travel occurred, and times of departure and arrival. If travel is by common carrier, the name of the common carrier shall be shown; if by auto, the statement of automobile travel shall be attached. The Comptroller may waive the submission of any information required by this section or may require the submission of other information reasonably required to determine any claim for travel expense reimbursement.

2 CRR-NY 8.11 Transmission of travel vouchers {#sec-2-crr-ny-8.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.11}

All travel vouchers shall be timely submitted through the administrative finance office of the employer's department at the end of the trip. Travel vouchers shall be signed by the claimant, his or her supervisor and the official authorized to approve the account. Approval shall be by authorized official other than the claimant. In his or her discretion, the Comptroller may promulgate procedures for electronic transmission of travel vouchers.

2 CRR-NY 8.12 Standard forms prescribed {#sec-2-crr-ny-8.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.12}

All forms to be used in connection with travel expense claims, whether paper or electronic, shall be prescribed by the Comptroller.

2 CRR-NY 8.13 Advance for travel expenses {#sec-2-crr-ny-8.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.13}

Generally, agencies are expected to provide each agency traveler with a credit care enabling the traveler to charge traveling expenses directly to the State and to avoid the need for the agency to make an advance payment to a traveler for traveling expenses. However, an agency may advance funds to a traveler for traveling expenses when it is in the best interests of the State to do so, and a traveler shall account for such a payment upon completion of the travel for which the payment was advanced.

2 CRR-NY 8.14 Reimbursement of travel expenses of persons attending interviews for employment {#sec-2-crr-ny-8.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.14}

(a) The appointing officer of an agency may authorize reimbursement for travel expenses necessarily incurred by candidates attending interviews for positions for which there is a shortage of qualified candidates. Positions in the competitive class for which there are shortages of qualified candidates shall be determined by the State Department of Civil Service; for positions outside the competitive class such determination shall be made by the head of the agency in which the positions are authorized.

(b) Reimbursement will be allowed to candidates who reside over 50 miles from place of interview.

(c) Expenses may include transportation, food and lodging.

2 CRR-NY 8.15 [Repealed] {#sec-2-crr-ny-8.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.15}

2 CRR-NY 8.16 [Repealed] {#sec-2-crr-ny-8.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.16}

2 CRR-NY 8.17 [Repealed] {#sec-2-crr-ny-8.17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 8.17}

Part 11 PRINTING, BINDING, ADVERTISING AND REPORTING SERVICES

2 CRR-NY 11.1 Notices, specifications, proposals, etc {#sec-2-crr-ny-11.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 11.1}

Publication of notices, specifications, proposals and bids, and contract awards of legislative, department, and session laws printing shall conform to the provisions of sections 4-7 of the State Printing and Public Documents Law.

2 CRR-NY 11.2 [Repealed] {#sec-2-crr-ny-11.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 11.2}

2 CRR-NY 11.3 Waiver of items under contract {#sec-2-crr-ny-11.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 11.3}

No item of printing under contract done other than by the contractor will be approved by the Comptroller unless accompanied by waiver of the contract.

2 CRR-NY 11.4 Printing vouchers {#sec-2-crr-ny-11.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 11.4}

Vouchers must be filled out by the agency on forms approved by the Comptroller. The vouchers are to be submitted, together with a sample of the job, a purchase order (if the cost is less than the State minimum bid threshold), an original invoice from the vendor, or a payee signature on the voucher with the approved transmittal form and forwarded to the Office of the State Comptroller, Bureau of State Expenditures, Printing Audit Unit.

2 CRR-NY 11.5 Advertising {#sec-2-crr-ny-11.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 11.5}

The advertising of contracts for purchases, construction, requests for proposals, and all other advertising required by law, will be published in the State Contract Reporter, subject to State minimum bid thresholds, unless prior exemption is obtained from the Office of the State Comptroller, Bureau of State Expenditures, Printing Audit Unit. Where it is clearly to the advantage of the State, advertising will be permitted in general technical and trade newspapers and other media, under which circumstances the prevailing advertising rates will be allowed. One tear sheet of the advertisement must accompany each voucher. The date or dates of publication, broadcast or number of insertions must appear on the face of the voucher.

2 CRR-NY 11.6 Stenographic services {#sec-2-crr-ny-11.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 11.6}

When stenographic services are necessary for hearings, conferences, conventions, investigating committees, etc., the rates for such services shall not exceed those established by the Office of the State Comptroller, Bureau of State Expenditures, Printing Audit Unit in the printing and procurement guidelines.

2 CRR-NY 11.7 to 11.8 to 11.8 [Repealed] {#sec-2-crr-ny-11.7-to-11.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 11.7 to 11.8}

Part 12 REAL ESTATE, LEASES, FIDELITY BONDS AND INSURANCE

2 CRR-NY 12.1 Bonds and insurance {#sec-2-crr-ny-12.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 12.1}

The following rules shall control expenditures for fidelity bonds and insurance:

(a) When fidelity bonds covering a State officer or employee are required by law, the annual premium thereon is a charge against the State. (Public Offices Law, § 11.)

(b) It is the general policy of the State not to carry insurance on its buildings and contents. The only recognized form of insurance is bodily injury and property damage on State-owned automobiles, elevator and boiler insurance where inspection is required.

(c) The State carries a group policy with the State Insurance Fund covering insurable employees for workers' compensation insurance.

(d) Purchase orders shall be issued for fidelity bond and insurance premiums and submitted to the Office of General Services for approval before they can be processed for payment in the Comptroller's office.

2 CRR-NY 12.2 [Repealed] {#sec-2-crr-ny-12.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 12.2}

Part 13 ACQUISITION OF REAL ESTATE

2 CRR-NY 13.1 Amounts included in cost of real estate {#sec-2-crr-ny-13.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 13.1}

The cost involved in a direct purchase or acquisition by condemnation proceeding of real estate, shall include not only the amount of the award but all incidental charges of condemnation proceeding other than legal or other service furnished by State officers in the performance of their official duties.

2 CRR-NY 13.2 Rules governing acquisition of land {#sec-2-crr-ny-13.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 13.2}

Unless otherwise provided by law, lands shall be acquired in accordance with the following rules:

(a) An agreement must be secured with the owner of the property and filed in the office of the Comptroller.

(b) An appraisal of the land to be acquired shall be made by the department, commission or agency authorized to purchase. The contract of purchase or agreement or adjustment with the owner shall be made upon the basis of such appraisal.

(c) The appraisal shall be submitted to the Bureau of Rights-of-Way and Claims of the Department of Transportation for review and approval and copies of the appraisal shall be forwarded to the Division of the Budget and to the Comptroller.

(d) Contracts of purchase and agreements of adjustment shall be submitted to the Attorney General for approval as to form and manner of execution. There should be endorsed on each contract or agreement the appropriation from which payment is to be made. The endorsement should contain the title, chapter, number and year of the appropriation.

(e) When the appraisal has been approved by the Bureau of Rights-of-Way and Claims of the Department of Transportation, the contract or agreement and copies of the Land Contract Obligation and Approval Slip (AC 16) listing accounts to be encumbered, shall be submitted to the Comptroller for his approval.

(f) Voucher for all searches ordered by the Attorney General shall be approved by him. Vouchers for a search ordered by an agency acquiring the lands, shall be approved by the Attorney General and shall not exceed ordinary legal fees.

(g) All descriptions to be inserted in conveyances shall first be submitted to the Attorney General and thereafter to the Comptroller for approval.

(h) All forms of conveyances and the execution thereof shall be approved by the Attorney General.

(i) Executed conveyances, satisfaction of mortgages, releases of land purchased from outstanding mortgages, and signed vouchers are to be delivered to the Attorney General in escrow.

(j) The Attorney General shall cause the conveyances, satisfactions and releases to be recorded in the proper county clerk's or register's office and the search shall be extended to include the record of them.

(k) When the conveyance cannot be delivered to the Comptroller prior to the payment of the consideration money, a copy of the deed approved by the Attorney General and a certificate by the county clerk certifying that the conveyance has been received by him for record, shall be filed.

(l) When a portion or all of the money is to be paid to a mortgagee or other persons, an agreement to that effect must be filed.

(m) When payment is to be made to a person other than the grantor, and other than as provided in subdivision (l) of this section a specific power of attorney to that effect, or a written consent to such payments must be filed. If the conveyance is made by husband and wife and payment is to be made to the husband only, the formal consent of the wife must be filed.

(n) An affidavit of title shall be executed and delivered by the grantor showing: That all taxes have been paid; that there are no outstanding tax liens or tax deed which might affect the title; that there are no easements rights, rights of tenants or unreported leases, affecting the premises which do not appear in the abstract of title, and such other facts as may be material to any particular transaction.

(o) The receipted vouchers shall contain the following certificate:

The acquisition of the lands herein described and more specifically described in a deed from the claimant herein to the People of the State of New York dated _____ subject to the terms and conditions, if any therein contained, at the consideration therein and herein stated, was approved by the ________ commission by resolution adopted _______

Such certificate shall be signed by the chairman, president or other authorized official, and attested by the secretary.

(p) All necessary title papers in the possession of the grantor shall be delivered and filed in the office of the Comptroller. The instruments referred to in subdivisions (m), (n) and (o) of this section shall be filed in the Comptroller's office.

Part 14 REVENUES AND REFUNDS

2 CRR-NY 14.1 Audit of revenues by Comptroller {#sec-2-crr-ny-14.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 14.1}

The Comptroller is required by section 8 of the State Finance Law to audit “the accrual and collection of all revenues and receipts.” The audit extends to all revenues and receipts in which the State has an interest direct or indirect in the whole or any part thereof including all special funds of the State or under the control of a State agency. The term accrual refers to the time at which the debt to the State has become legally due and payable. See also, article V of the State Constitution.

2 CRR-NY 14.2 Audit of refunds by Comptroller {#sec-2-crr-ny-14.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 14.2}

A refund from any fund in which the State has an interest, direct or indirect, in the whole or any part thereof, comes within the scope of the Comptroller's audit.

2 CRR-NY 14.3 Deposits of moneys in banks {#sec-2-crr-ny-14.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 14.3}

Moneys received by any State agency for subsequent payment into any fund in the custody of the State Treasury, and moneys received by custodian of special funds in which the State has an interest, direct or indirect, or under the control of the State, shall be deposited, daily if possible, and not later than once a week, in a bank or trust company of the State. When required by law (see State Finance Law, §§ 105, 106), such deposits shall be in a depository approved by the Comptroller and shall be secured by bonds. Moneys include cash, checks, bond coupons, etc. All such receipts shall be deposited in a bank, and any payments therefrom, if authorized, shall be only by check on the bank of deposit.

2 CRR-NY 14.4 Unpaid checks outstanding more than one year {#sec-2-crr-ny-14.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 14.4}

The amounts of all checks on bank accounts of any funds of the State which have been outstanding for more than one year from the respective dates thereof shall be paid into the Abandoned Property Fund pursuant to Abandoned Property Law, section 1315(4). The proper disbursing officers or agents of such funds shall notify the banks on which such checks were drawn to stop payment thereon (State Finance Law, § 102) and shall follow all proper procedures in accordance with the New York State Accounting System User Procedures Manual, volume XI, section 7.0500.

2 CRR-NY 14.5 Revenue contracts approval {#sec-2-crr-ny-14.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 14.5}

(a) Under section 112 of the State Finance Law, revenue contracts or agreements of like nature by which a consideration other than the payment of money is given, shall first be approved by the Comptroller and filed in his office. This section applies to all revenue contracts, leases, etc., covering State-owned property either real or personal, regardless of amount.

(b) The consideration, if any, to be received by the State, shall be a fixed or determinable amount of cash, to be paid at a specified time or at specific intervals. If the consideration is other than a fixed sum or a percentage of receipts or profits, an explanatory statement shall accompany the contract.

(c) If the contract involves personal services, provision shall be made for adequate workers' compensation insurance. When such insurance is not required, an explanatory affidavit must be made. Contracts shall also provide for public liability, property damage and fire insurance if the interest of the State requires it. When submitted to the Comptroller, any contract by its terms requiring insurance coverage, or the filing of a surety or faithful performance bond, shall be accompanied by the policies, certificates of insurance and/or bond issued by companies authorized to do business in this State.

(d) Revenue contracts, properly executed and with all supporting documents, shall be submitted for approval at least 30 days prior to their commencement or effective date. Amendments to an existing contract shall be submitted in the same manner as the original. A written statement showing the reasons for any changes from original terms must accompany same.

2 CRR-NY 14.6 [Repealed] {#sec-2-crr-ny-14.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 14.6}

2 CRR-NY 14.7 to 14.12 to 14.12 [Repealed] {#sec-2-crr-ny-14.7-to-14.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 14.7 to 14.12}

Part 15 COLLATERAL LOAN BROKERS

2 CRR-NY 15.1 Books and records to be maintained by collateral loan brokers {#sec-2-crr-ny-15.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 15.1}

Each and every collateral loan broker is required to keep and maintain the following books, records and reports:

(a) pledgor's registration card;

(b) pledge ticket;

(c) pledge book;

(d) redemption book;

(e) auction sales book;

(f) report of auction sale to licensing body;

(g) surplus book;

(h) notice to pledgor—six months after date of pledge;

(i) pledgor's request that his pledge be held for one year (New York City only);

(j) notice to pledgor one year after date of pledge;

(k) notice to pledgor of existing surplus from auction sale;

(l) receipt from pledgor for surplus;

(m) abandoned property surplus reports to State Comptroller;

(n) collateral loan broker's registration statement; and

(o) collateral loan broker's supplemental registration statement.

2 CRR-NY 15.2 Information to be contained in books and records {#sec-2-crr-ny-15.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 15.2}

Each and every collateral loan broker is required to keep and maintain the books, records and reports as listed below. Each book, record and report is to contain the information as hereinafter indicated.

PLEDGE BOOK

Date of pledge

| | | | | | --- | --- | --- | --- | | Pledge number | Date | R | A or S | | Disposition column | (Renewed) | (Renewed) | (Auction Sale) |

Article pledged

Amount of loan

Pledgor's name and address

REDEMPTION BOOK

Redemption date

Pledge number

Date of pledge

Amount of loan

Interest charges

Extra care charges

All money columns should be footed.

Obtain affidavit from pledgor for lost pledge ticket.

AUCTION SALES BOOK

Auction sale date

Pledge number

Description of article

Auction sale lot number

Amount of loan

Selling price to outsiders

Selling price to collateral loan broker (purchase backs)

Note:

All stock merchandise submitted for auction sale should be distinctly marked as such.

SURPLUS BOOK

Auction sale date

Auction lot number

Pledge number

Description of article

Name and address of pledgor

Amount of loan

Interest charges

Extra care charges

Auctioneer's commission

Total (loan, interest and charges)

Auction selling price

Surplus:

(a) to pledgor

(b) to State Comptroller

(c) date paid

All money columns should be footed.

Obtain signed receipt from pledgor for surplus.

It is recommended that where surplus refunds are made to pledgors by mail, the original pledge ticket together with a signed receipt for the surplus should be stapled together and retained for auditing purposes.

2 CRR-NY 15.3 Collateral loan broker's report of auction sale {#sec-2-crr-ny-15.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 15.3}

Each and every collateral loan broker is required by law to file a verified report of auction sale with the local governing body issuing collateral loan broker's licenses, within 30 days after such sale. This report must include the following information:

(a) name and address of collateral loan broker;

(b) date and place where sale was held;

(c) name and address of auctioneer;

(d) schedule of each defaulted pledge offered for sale, together with:

(1) pledge number;

(2) auction lot number;

(3) amount received for each pledge; and

(4) a statement that each of the pledges so listed were delivered over to the auctioneer and actually offered for sale at such auction;

(e) collateral loan broker's “purchase backs”:

(1) a statement setting forth which pledges were purchased back by the collateral loan broker; and

(f) affidavit of publication made by the newspaper in which notice of each such sale was published.

2 CRR-NY 15.4 Collateral loan broker's notice to pledgor—six months after date of pledge {#sec-2-crr-ny-15.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 15.4}

Each and every collateral loan broker is required to mail the following notice of election of intended sale. In the City of New York, the notice by a pledgor that a pledge be retained for one year shall be in the following form:

NOTICE TO PLEDGOR—SIX MONTHS AFTER DATE OF PLEDGE

TELEPHONE __

COLLATERAL LOAN BROKER'S NAME

ADDRESS

DATE __

Pledgor's Name and Address

You are hereby notified that six (6) months have expired since the date of your Loan No. __ for $__.

Unless you sign and return the request attached (enclosed) informing us of your desire to have the pledge retained for the period of one (1) year from its original date and remit with this request payment of all interest due for the first six months of the loan, this pledge will be sold at public auction after ______.

You are required by law to obtain a post office receipt when you return the attached (enclosed) form.

COLLATERAL LOAN BROKER'S NAME

PLEDGOR'S REQUEST THAT HIS PLEDGE BE HELD FOR ONE YEAR

(New York City Only)

DATE __

PLEDGE NO. __

To: Collateral Loan Broker's Name

Address

You are hereby requested to hold my pledge for the period of one (1) year from the Date of Pledge. Enclosed is a certified check or money order in the amount of $__ in payment of all interest due for the first six months of the loan.

Pledgor's Name __

Pledgor's Address __

COLLATERAL LOAN BROKER AND PLEDGOR

PLEASE NOTE: YOU ARE REQUIRED BY LAW TO OBTAIN A POST OFFICE RECEIPT WHEN MAILING THIS NOTICE.

2 CRR-NY 15.5 Collateral loan broker's notice to pledgor of existing surplus from auction sale {#sec-2-crr-ny-15.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 15.5}

The following notice to pledgor of existing surplus from auction sale is hereby prescribed:

Collateral Loan Broker's Name Collateral Loan Broker's Adress Phone Date

The sale of our pledge No. __ held on __ resulted in a surplus of __. This is payable at our office upon surrender to us of our original pawn ticket.

Pledgor's Name Pledgor's Address

Very truly yours,

Collateral Loan Broker

2 CRR-NY 15.6 Pledgor's receipt for surplus {#sec-2-crr-ny-15.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 15.6}

The following receipt from pledgor for surplus is hereby prescribed:

Date ______

Received from— Collateral Loan Broker's Name Address

$__ surplus resulting from sale of pledge No. __ at auction on __.

Pledgor's Name______

Address______

---

2 CRR-NY 15.7 Collateral loan broker's registration and supplemental registration statement {#sec-2-crr-ny-15.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 15.7}

Each and every collateral loan broker is required to file with the State Comptroller the following registration and supplemental registration statement. For filing each collateral loan broker's registration statement, a fee of $5; and for filing each supplemental statement, a fee of $2.50. Such fees are payable at the time of filing and no filing shall be deemed effective within the meaning of this section until such fees have been paid.

1. Fee $5.00

2. Date ____

COLLATERAL LOAN BROKER'S REGISTRATION STATEMENT

Article 5 of the General Business Law provides:

Section 53. After September First, Nineteen Hundred Sixty, no person, corporation, firm or association shall carry on the business of collateral loan broker within the State of New York unless and until such collateral loan broker shall have caused to be filed in the office of the State Comptroller upon forms prescribed by him a statement, duly verified as hereinafter provided, to be known as “Collateral Loan Broker's Registration Statement.”

3. (Print Full Name) (Trade Name)

4. (Street Address of Principal Office) (P.O. Address)

5. (Address of Licensed Premises)

6. (Business Phone No.)

7. Check Type of Organization: Individual □ Partnership □ Corporation □

8. Individual: Answer No. 16.

9. Partnership: Answer No. 16.

10. Corporation: Answer No. 17.

11. (Name and Location of Licensing Body)

12. Date Collateral Loan Broker's License was Issued

13. Collateral Loan Broker's License No.

14. State whether any other business will be carried on in said premises:

Yes □ No □

15. If “Yes,” give details.

16. The following to be filled in only by Individual or Partnership Registrant:

NAME RESIDENCE

(If Partnership, Name each Partner)

The undersigned, each for himself, certifies that he is the Registrant above named; that he knows the contents of the above registration and the statements contained therein and the same are true of his own knowledge; that the Registrant will comply with the rules and regulations of the Department of Audit and Control pertaining to collateral loan brokers that are now in force or that may in the future be promulgated.

DATED ___________

(Signature of Individual or Each Partner)

17. The following questions are to be answered only by a Corporation Registrant:

a) Name of Corporation

b) Was Corporation Organized in New York State _ Date Inc. _

c) If Not, did Corporation obtain Certificate of Authority to do Business in this State Yes or No

d) Date of Certificate

e) State Principal Place of Business (Address—City and State)

f) The Names and Addresses of All Officers of Corporation:

| | | | | | --- | --- | --- | --- | | Name | Residence | Business Address | Title |

THIS CERTIFICATE TO BE SIGNED AND DATED BY A CORPORATION

certifies that he is (Title) of the above

named corporation; that he knows the contents of the above registration and the statements and answers therein; that the same are true of his own knowledge; that he has been authorized, by order of the Board of Directors of said Corporation to make the statements and answers as contained in this registration; that the registrant will comply with the rules and regulations of the Department of Audit and Control pertaining to collateral loan brokers that are now in force or that may in the future be promulgated.

DATED (Signature of Authorized Officer)

STATE OF NEW YORK 1. Fee $2.50

DEPARTMENT OF AUDIT AND CONTROL 2. Date ____

COLLATERAL LOAN BROKER'S SUPPLEMENTAL REGISTRATION STATEMENT

Article 5 of the General Business Law provides:

Section 53(f)—In the event that after any collateral loan broker shall have filed a “Collateral Loan Broker's Registration Statement,” any change shall take place in the personnel of the Partners, Principals, Officers or in the location of the Principal, such collateral loan broker shall file a statement with the State Comptroller to be known as a “Collateral Loan Broker's Supplemental Registration Statement.”

3. (Print Full Name) (Trade Name)

4. (Street Address of Principal Office) (P.O. Address)

5. (Address of Licensed Premises)

6. (Business Phone No.)

7. Check Type of Organization: Individual □ Partnership □ Corporation □

8. Individual—Answer No. 16.

9. Partnership—Answer No. 16.

10. Corporation—Answer No. 17.

11. (Name and Location of Licensing Body)

12. Date Collateral Loan Broker's License was Issued

13. Collateral Loan Broker's License No.

14. State whether any other business will be carried on in said premises:

Yes □ No □

15. If “Yes,” give details.

16. The following to be filled in only by Individual or Partnership Registrant:

NAME RESIDENCE

(If Partnership, Name each Partner)

The undersigned, each for himself, certifies that he is the Registrant above named; that he knows the contents of the above registration and the statements contained therein and the same are true of his own knowledge; that the Registrant will comply with the rules and regulations of the Department of Audit and Control pertaining to collateral loan brokers that are now in force or that may in the future be promulgated.

DATED ___________

(Signature of Individual or Each Partner)

17. The following questions are to be answered only by a Corporation Registrant:

a) Name of Corporation

b) Was Corporation Organized in New York State _ Date Inc. _

c) If Not, did Corporation obtain Certificate of Authority to do Business in this State Yes or No

d) Date of Certificate

e) State Principal Place of Business (Address—City and State)

f) The Names and Addresses of All Officers of Corporation:

| | | | | | --- | --- | --- | --- | | Name | Residence | Business Address | Title |

THIS CERTIFICATE TO BE SIGNED AND DATED BY A CORPORATION

certifies that he is (Title) of the above

named corporation; that he knows the contents of the above registration and the statements and answers therein; that the same are true of his own knowledge; that he has been authorized, by order of the Board of Directors of said Corporation to make the statements and answers as contained in this registration; that the registrant will comply with the rules and regulations of the Department of Audit and Control pertaining to collateral loan brokers that are now in force or that may in the future be promulgated.

DATED (Signature of Authorized Officer)

2 CRR-NY 15.8 Lawful extra care charges {#sec-2-crr-ny-15.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 15.8}

(a) Lawful extra care charges shall mean those charges allowed by the mayor of a city or local licensing authority, which may be by rule or regulation promulgated for extra care services rendered by a collateral loan broker. It is the duty of the collateral loan broker to perform those services and to take such care of pledged articles as is normally required of a pledged article of personal property; where, however, the collateral loan broker actually gives or renders extra care and assumes a risk beyond those normally rendered and assumed by a collateral loan broker, and a charge is made for such extra care, the collateral loan broker shall specifically call the pledgor's attention to the said charge at the time the loan is made, and no such charge or fee shall be allowed unless the pledgor shall sign an agreement, to pay such extra charge and the fee for such extra charge, as agreed upon shall be inserted on the face of the pawn ticket.

(b) The above-mentioned charges are intended to apply to those extra care services actually performed and rendered by a collateral loan broker in addition to the normal care required to be given by him, and, shall not be used as a substitute for or as a means of exacting additional charges from the pledgor in excess of the maximum interest rates provided for in section 46 of the General Business Law.

Part 16 FIELD AUDIT

2 CRR-NY 16.1 Agencies subject to field audit {#sec-2-crr-ny-16.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.1}

All departments, commissions, boards, institutions, or other agencies of the State, including funds held by any such agency or officer thereof in its, or his representative capacity, are subject to the Comptroller's field audit, and all transactions thereof shall be accounted for in accordance with these regulations. The accounts of any political subdivision or officer, or of any private institution or person, relating to moneys payable in whole or in part to the State or to moneys paid by the State from appropriations and special funds and to be disbursed as provided by law, may be examined by the Comptroller.

2 CRR-NY 16.2 Bookkeeping accounts and records {#sec-2-crr-ny-16.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.2}

The Comptroller shall prepare and prescribe such accounting records, forms of accounts, and procedures as may be required by any agency subject to audit. Bookkeeping shall be maintained generally on the double-entry basis with a sufficient number of receipt and payment accounts to fully portray and control all fiscal transactions. All systems of accounts installed, or any revision of accounting forms, books, or systems in operation, shall be submitted to the Comptroller for his approval.

2 CRR-NY 16.3 Filing of account papers {#sec-2-crr-ny-16.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.3}

Original time and payroll records, delivery receipts, inspection reports evidencing receipt of goods, copies of purchase orders and vendor vouchers, property records, postage records, bank statements, deposit slips, paid and spoiled checks, and other papers relating to receipts and payments subject to field audit shall be so filed as to be readily accessible to field auditors.

2 CRR-NY 16.4 Records of articles of manufacture and farm production {#sec-2-crr-ny-16.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.4}

(a) Adequate records shall be kept to reflect the purchase of all raw materials for the manufacture of articles for use by the institution or agency, or for resale. Cost of manufacturing, including labor, burden and administrative expenses and inventory records shall also be maintained.

(b) Accounts shall be set up to include all costs of farm production, the quantities produced and the distribution thereof.

2 CRR-NY 16.5 Exchange of surplus farm products {#sec-2-crr-ny-16.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.5}

(a) Surplus farm products and farm animals, produced on any of the institutional farms, or at any agricultural school or agricultural experiment station, which are not required by the institution that produced them, may be transferred in the manner prescribed by section 177 of the State Finance Law.

(b) Each institution and the Commissioner of Agriculture and Markets shall keep a complete record of such transfers which shall state the products, prices, amounts and such other data as may be required.

2 CRR-NY 16.6 Stores records {#sec-2-crr-ny-16.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.6}

(a) All State agencies, maintaining a centralized storeroom or storehouse for the receipt and distribution of food, office supplies, household supplies or other commodities, shall maintain a perpetual inventory record of all articles received, and adequate records to show the distribution thereof. Such records shall show the date of receipt; quantity and description, the date and quantity of issue, and balance on hand. Disbursement or issue shall be supported by approved requisitions or other authorizations.

(b) A physical inventory shall be taken periodically, but not less than once each year of such stocks in the storehouse and a comparison made with the perpetual inventory records. Differences resulting from these comparisons shall be investigated and, after approval by an authorized person, the book records shall be adjusted to conform with the physical count.

2 CRR-NY 16.7 Cafeterias and commissaries {#sec-2-crr-ny-16.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.7}

(a) Accounting records shall be kept on an accrual basis in order to reflect properly the assets and liabilities and to determine the profit or loss from operations. This requirement is especially necessary where the activity must be operated on a self-sustaining basis, so that the price of goods sold shall be sufficient to defray all cost. A physical inventory shall be taken at the close of each fiscal year.

(b) Receipts shall be controlled, wherever practicable, through cash registers, or by the use of bound press-numbered receipt books or tickets. Expenditures shall be supported by invoices or vouchers approved by an authorized person.

2 CRR-NY 16.8 Record and deposit of receipts {#sec-2-crr-ny-16.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.8}

(a) All moneys received should be recorded on the day received, in a permanent record. A separate entry shall be made for each receipt, showing date of receipts, name of payer, the reason for the payment and the amount thereof. Where receipts are numerous and in small amounts, a summary cashbook may be used to record and classify daily totals of cash received.

(b) All such receipts are to be deposited in the form received, in a bank designated by the Comptroller, daily if possible, but at least once a week. Each deposit shall cover all receipts from the time of the last preceding deposit to the closing entry for the day preceding the current deposit. Deposit slips shall be prepared in duplicate, one copy of which shall be obtained from the bank acknowledging such deposit and filed with the bank statement.

(c) Press-numbered receipts in bound form, with as many copies retained as may be required, are to be issued for transactions involving receipts in the form of cash.

2 CRR-NY 16.9 Collateral deposited with the Comptroller to secure moneys on deposit {#sec-2-crr-ny-16.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.9}

State agencies shall notify the Comptroller immediately, where the amount on deposit exceeds the collateral pledged with the Comptroller as security therefor.

2 CRR-NY 16.10 Disposition of receipts {#sec-2-crr-ny-16.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.10}

(a) Refunds to claimants, after pre-audit by the Comptroller, and transfers to the State treasury shall be made by checks drawn to the order of the payee to whom the money is due and signed by authorized persons. All checks shall be entered on a disbursement register in numerical sequence for the respective effective dates of such payments, and the entry for each check shall show the date thereof, the name of the payee, the number and amount of the check, and a reference to the claim paid.

(b) Receipts payable into the State treasury, or any fund thereof shall be transferred thereto from banks of original deposit in accordance with Part 14 of this regulation.

(c) No petty cash or other cash fund shall be instituted or maintained except with the approval of the Comptroller.

2 CRR-NY 16.11 Paid and voided check file {#sec-2-crr-ny-16.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.11}

Checks, paid by the bank, shall be maintained in numerical sequence for each bank account. Where checks are spoiled before issue, a proper notation shall be made in the appropriate record, and such checks shall be kept for inspection by the Comptroller.

2 CRR-NY 16.12 Monthly reconciliation of bank account {#sec-2-crr-ny-16.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.12}

Each custodian of any account shall reconcile monthly the cash balance in the cash account with the balance appearing on the bank statement.

2 CRR-NY 16.13 Collection of taxes, fees and miscellaneous receipts {#sec-2-crr-ny-16.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.13}

(a) Tax reports and returns, received by a State department or agency, shall be retained for verification and audit by the Comptroller. They shall be filed in such manner as will facilitate the comparison thereof with the accompanying remittances recorded in the appropriate book of original entry. This rule also applies to the filing of approved applications for licenses, certificates or permits. Records shall be kept to reflect delinquent taxes receivable.

(b) All forms, papers or other documents submitted to a department or agency, which support remittances received, shall be filed under the same heading as that in which the respective receipts are classified in the cashbook.

2 CRR-NY 16.14 Licenses, certificates and permits {#sec-2-crr-ny-16.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.14}

(a) Except in those cases where the Comptroller shall determine that it is not practicable, all licenses, certificates or permits issued by any State department or agency must be serially press-numbered. Where a fee is fixed, a separate series of press-numbered forms shall be printed with the amount of the fee stated thereon.

(b) All serially press-numbered forms shall be accounted for, and all licenses, certificates or permits spoiled, mutilated or voided shall be preserved for inspection by the Comptroller. In each instance where it is necessary to issue a duplicate license or certificate, a record shall be kept of such issue which shall be supported by affidavits on file attesting to the loss of the original.

(c) A sworn manifest shall be obtained from the printer which shall state the exact number of forms printed and delivered for each series of a licensing or registration period.

(d) An accounting of revenues shall be effected by the department or agency by reconciling the value of the licenses, certificates or permits issued with the amount of the recorded receipts. Such reconciliations shall be retained for examination by the Comptroller. No license, certificate or permit shall be issued until the fee is received.

2 CRR-NY 16.15 Sales of personal property {#sec-2-crr-ny-16.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.15}

Personal property sold pursuant to section 178 of the State Finance Law shall be clearly identified on the agency's property records in order that such disposition may be readily audited by the Comptroller.

2 CRR-NY 16.16 Evidence of receipt of goods {#sec-2-crr-ny-16.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.16}

(a) Delivery receipts, inspection reports and other equally satisfactory evidences of the receipt of goods or the performance of services in support of purchase vouchers shall be kept on file pending field audit by the Comptroller. When an inspection report or delivery receipt has been covered by a voucher, it shall be cancelled or voided in such a manner that it cannot be used in support of a duplicate claim.

(b) Where a copy of the purchase order is used as a receiving report, quantities ordered shall be omitted therefrom. The quantities should be noted thereon when received for comparison with the purchase order and vendor voucher.

(c) Delivery receipts and inspection reports should be signed by the person responsible for their correctness.

2 CRR-NY 16.17 Property records {#sec-2-crr-ny-16.17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.17}

(a) Every State department or agency should maintain a perpetual inventory of property and equipment purchased or otherwise acquired. All items of equipment should be numbered. The detail records should show the date of purchase or acquisition of each article of property, description, quantity, cost, identification number and location. Property or equipment retired or otherwise disposed of should be supported by official authorizations.

(b) A physical inventory should be taken of the various items of property and equipment not less than once each year and a comparison made thereof with the perpetual inventory records. Any resulting differences shall be investigated.

2 CRR-NY 16.18 Payroll and time records {#sec-2-crr-ny-16.18 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.18}

State departments, institutions and other agencies shall maintain adequate time and personnel records in support of payrolls for inspection by the Comptroller.

2 CRR-NY 16.19 Postage records {#sec-2-crr-ny-16.19 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.19}

(a) Postage stamps shall be purchased by check. A book record of the receipt and distribution of postage stamps shall be kept. Stamps shall be allocated to units and branches only upon signed requisition.

(b) Metered postage must be procured by check separate from the purchase of postage stamps. The postmaster's receipts for metered postage and the statement of readings of meter registers shall be retained pending field audit by the Comptroller.

2 CRR-NY 16.20 Fidelity bond coverage {#sec-2-crr-ny-16.20 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.20}

Adequate fidelity bond coverage for fraudulent or dishonest acts of State officers and State employees should be provided for such officers and employees who are accountable for money or property of the State or held by the State in trust for others.

2 CRR-NY 16.21 Disposition of papers, records and books of account {#sec-2-crr-ny-16.21 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 16.21}

No account papers, records or books of account shall be destroyed or otherwise disposed of except pursuant to law.

Part 18 PROMPT PAYMENT PROCESSING

2 CRR-NY 18.1 Definitions {#sec-2-crr-ny-18.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.1}

As used in this Part, the following terms shall have the following meanings unless otherwise specified:

(a) Agency means a State agency which has entered into a contract with a contractor.

(b) Comptroller means the State Comptroller.

(c) Contract means an enforceable agreement entered into by a contractor and a State agency, including but not limited to written contracts and purchase orders, written or oral requests for goods or services, including public utility services and lease agreements.

(d) Contractor means any person, partnership, firm, corporation or association, including public utilities and not-for-profit organizations:

(1) selling materials, equipment, or supplies or leasing property or equipment to a State agency;

(2) constructing, reconstructing, rehabilitating or repairing buildings or highways for, or on behalf of, a State agency; or

(3) rendering or providing services pursuant to a contract with a State agency.

(e) Designated payment office means:

(1) the office designated by the State agency to which a proper invoice is to be submitted by a contractor; or

(2) the Statewide Financial System for the processing of electronic invoices.

(f) Payment date means the date on which a check for payment pursuant to a contract is dated, or, if the contractor elects to receive payment by means of electronic funds transfer, the date a transaction for electronic funds transfer is initiated by the Statewide Financial System.

(g) Proper invoice means a written or electronic request for a contract payment that is submitted by a contractor setting forth the description, price, quantity of goods, property or services delivered or rendered, in such form and supported by such other substantiating documentation as the Comptroller or individual State agency may reasonably require.

(h) Receipt of an invoice means:

(1) the date on which a proper invoice is actually received in the designated payment office or, with regard to electronic invoices, the date on which a proper invoice is received by the Statewide Financial System, or the next succeeding business day if a proper invoice is received by the Statewide Financial System after 5:00 p.m. Eastern Time or on a Saturday, Sunday or legal holiday;

(2) the date on which the State agency receives the purchased goods, property or services covered by the proper invoice, whichever is later; or

(3) in regard to final payments on highway construction contracts, the date on which the contract work has been accepted as completed by the Commissioner of Transportation.

(i) Set-off means the reduction by the Comptroller of a payment due to a contractor by an amount equal to the amount of an unpaid legally enforceable debt owed by the contractor to the State of New York.

(j) State agency means any department, board, bureau, commission, division, office, council, institution or committee in the Executive, Legislative or Judicial branch of State government; the City University of New York when acting on behalf of any of its senior colleges, the Facilities Development Corporation or the State University Construction Fund.

(k) State funds means funds held in joint custody by the Comptroller and the State Commissioner of Taxation and Finance.

INTEREST ELIGIBILITY INTEREST ELIGIBILITY

2 CRR-NY 18.2 Eligible payments {#sec-2-crr-ny-18.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.2}

(a) With the exception of the payments described in subdivision (b) of this section, every payment of State funds requested by a State agency to be paid to a contractor pursuant to a contract is eligible for interest whenever the payment is not made by the required payment date, unless failure to make such payment is the result of a lien, attachment or other legal process against the money due the contractor. However, only interest amounting to $10 or more will be paid.

(b) Payments are not eligible for interest under this Part when they are due and owing by a State agency:

(1) under the Eminent Domain Procedure Law;

(2) as interest allowed on judgments rendered by a court, except to the extend that interest is incurred under this Part prior to the date of the notice of intent to file a claim, the date of a notice of claim, or the date on which a legal action for the payment of such interest is commenced, whichever occurs first;

(3) to the Federal government; to any State agency or its related instrumentalities; to any duly constituted unit of local government, including but not limited to counties, cities, towns, villages, school districts, special districts or any of their related instrumentalities; to any public authority or public benefit corporation; or to employees of State agencies when acting in, or incidental to, their public employment capacity;

(4) to contractors of third-party payment agreements, including but not limited to the fiscal agent or fiscal intermediary designated pursuant to section 367-b of the Social Services Law;

(5) to entities which receive State funds through any intermediary organization other than a State agency, for example, to entities which receive payments of State funds under a contract with a local government;

(6) in situations where the Comptroller exercises a legally authorized set-off against all or part of the payment due the contractor; and

(7) under a contract entered into on or prior to July 1, 1984 which, as described in section 18.24 of this Part, contains interest provisions which will provide for a greater interest payment to the contractor. In any such case it shall be the responsibility of the agency to obtain any invoices, and prepare and submit any vouchers necessary for the payment of such interest.

INTEREST CALCULATION INTEREST CALCULATION

2 CRR-NY 18.3 Required payment date {#sec-2-crr-ny-18.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.3}

The required payment date shall be 30 calendar days, excluding legal holidays, after the merchandise/invoice receipt (“MIR”) date.

2 CRR-NY 18.4 Merchandise/invoice receipt date {#sec-2-crr-ny-18.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.4}

(a) Except where adjusted pursuant to sections 18.7-18.14 of this Part, the MIR date shall be:

(1) in the case of final payments on highway construction contracts, 30 calendar days, excluding legal holidays, after the date on which the contract work has been accepted by the Commissioner of Transportation;

(2) in the case of contracts which require that the contractor be paid at predetermined intervals, the 30th calendar day, excluding legal holidays, prior to each payment date specified in the contract, or the date upon which an invoice, if required, is submitted, whichever date is later; or

(3) in all other cases, the date of the receipt of an invoice as defined in section 18.1(h) of this Part.

(b) The MIR date determined in accordance with subdivision (a) of this section shall be adjusted in the situations described in sections 18.7-18.14 of this Part, in accordance with the procedure outlined therein.

2 CRR-NY 18.5 Interest eligibility {#sec-2-crr-ny-18.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.5}

Interest shall be calculated and paid at the daily rate pursuant to section 18.6 of this Part on all interest-eligible payments, as determined in accordance with section 18.2 of this Part, when the payment date is more than 30 calendar days, excluding legal holidays, after the MIR date.

2 CRR-NY 18.6 Computation of interest payment {#sec-2-crr-ny-18.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.6}

(a) Interest under this Part shall be computed at the daily rate in effect on the date the interest is paid, as set by the Commissioner of Taxation and Finance pursuant to subsection (e) of section 1096 of the Tax Law.

(b) Interest payments on amounts due to a contractor pursuant to this Part shall be paid to the contractor for the period beginning on the day after the required payment date and ending on the payment date, and shall be paid within seven calendar days after the payment date except where it is necessary for the Division of the Budget to transfer or interchange appropriations in order for the interest to be paid, in which case interest shall be paid within 14 calendar days of the payment date.

ADJUSTMENTS TO MERCHANDISE/INVOICE RECEIPT DATE ADJUSTMENTS TO MERCHANDISE/INVOICE RECEIPT DATE

2 CRR-NY 18.7 Comptroller audit {#sec-2-crr-ny-18.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.7}

(a) The MIR date shall be determined in accordance with subdivision (c) of this section whenever the Comptroller in the course of his audit determines that there is reasonable cause to believe that, as a substantive matter, payment may not properly be due to the contractor, in whole or in part.

(b) Whenever the Comptroller makes the determination set forth in subdivision (a) of this section, he shall send the contractor written notice of such determination, unless he suspects illegal or similar activity on the part of the contractor which would make such notice inappropriate, in which event he shall make a dated written record of such determination in his files. The written notice shall include a request for all information and material which the Comptroller deems necessary to determine whether or not payment is properly due, and a copy of such notice shall be sent to the agency. Promptly upon completion of his audit, the Comptroller shall notify the contractor and agency of the results of his audit unless he suspects illegal activity, in which event he shall make a dated written record of his audit conclusions for his file.

(c) Period of adjustment.

Where, after an audit pursuant to subdivision (a) of this section, the Comptroller determines that all or a portion of the amount claimed by the contractor is, in fact, due, the MIR date of the invoice shall be the original MIR date increased by a number of days equal to the number of days from the date that the Comptroller sends the contractor the written notice required by subdivision (b) of this section, or in the case of suspected fraud, from the date the Comptroller enters the written determination required by subdivision (b) in his files, to the date that the Comptroller sends written notice to the contractor of the resolution of the matter.

2 CRR-NY 18.8 Inspection or audit {#sec-2-crr-ny-18.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.8}

(a) The MIR date shall be adjusted in accordance with subdivision (b) or (c) of this section whenever, in accordance with specific statutory or contractual provisions, payment must be preceded by an inspection period or by an audit to determine the resources applied or used by a contractor in fulfilling the terms of the contract. For the purpose of this section, the term audit shall not apply to the routine review or comparison of invoices, purchase orders, receiving reports and other standard documentation.

(b) Except as provided in subdivision (c) of this section, where a contract provides for an inspection or audit period, the MIR date shall be the original MIR date increased by the lesser of:

(1) the number of days provided for the inspection or audit; or

(2) the number of days actually utilized for the inspection or audit; provided, however, that where the audit or inspection period began prior to the date of receipt of an invoice, the MIR date shall be the date that the required inspection or audit has been completed, or the date that the statutory or contractual inspection or audit period ends, whichever date is earlier, but in no event shall the MIR date be earlier than the date of the receipt of an invoice as defined in section 18.1(h) of this Part.

(c) Whenever in the course of an audit or inspection as described in subdivision (a) of this section, an agency determines that there is a defect in the delivered goods, property or service, or defects in the invoice, or suspected improprieties of any kind, the agency shall no later than the expiration of the statutory or contractual audit or inspection period, notify the contractor of defect or impropriety. In such case, the MIR date shall be the date that the corrected invoice, or goods or services, are delivered or provided, or the date that the impropriety is resolved, except where the agency has failed to notify the contractor of such defect or suspected impropriety prior to the expiration of the audit or inspection period. In such case, the MIR date shall be the MIR date as determined in accordance with the preceding sentence, reduced by the number of days after the expiration of the audit or inspection period which the agency took to notify the contractor of the defect or suspected impropriety.

2 CRR-NY 18.9 Lack of appropriations {#sec-2-crr-ny-18.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.9}

(a) The MIR date shall be determined in accordance with subdivision (b) of this section whenever the necessary State government appropriation required to authorize payment has yet to be enacted.

(b)

(1) Except in the situations covered by paragraph (2) of this subdivision, the MIR date shall be the effective date of the required appropriation.

(2) Where the MIR date would otherwise be determined in accordance with section 18.4(a)(2) of this Part and the appropriation to authorize payment is not in effect on the payment date specified in the contract, the MIR date shall be the MIR date determined in accordance with section 18.4(a)(2) of this Part increased by the number of days between the payment date specified in the contract and the date the appropriation is effective.

2 CRR-NY 18.10 Insufficient cash balance {#sec-2-crr-ny-18.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.10}

(a) The MIR date shall be determined in accordance with subdivision (b) of this section whenever the cash balance of the fund or subfund from which the payment is to be made is insufficient to finance the payment and the appropriations from such fund or sub-fund does not authorize the transfer of money from another fund or sub-fund to finance the payment.

(b) The MIR date shall be the original MIR date increased by the number of days between the date that the Comptroller determines that there are insufficient funds to finance the payment and the date upon which sufficient funds are received by the Comptroller or State Treasurer.

(c) In any case where a voucher has been held for more than two business days because of insufficient cash, the Comptroller will notify the agency responsible for collecting the revenues required to fund the payment. The agency shall promptly take all reasonable efforts to collect such revenue and upon collection shall immediately transmit such revenues to the Comptroller or State Treasurer. If the agency has not collected such revenues within five business days, it shall notify the Comptroller, in writing, of the efforts which it has made and why they have been unsuccessful.

2 CRR-NY 18.11 Federal government review of invoice {#sec-2-crr-ny-18.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.11}

(a) The MIR date shall be determined in accordance with subdivision (b) of this section whenever a proper invoice must be examined by the Federal government prior to payment.

(b) The MIR date shall be the original MIR date increased by a number of days equal to the number of days between the date that the agency transmits the invoice to the Federal government for examination and the date that the agency receives the invoice from the Federal government.

2 CRR-NY 18.12 Noncompliance with contract {#sec-2-crr-ny-18.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.12}

(a) The MIR date shall be determined in accordance with subdivision (c) of this section whenever the goods or property have not been delivered or the services have not been rendered by the contractor in compliance with the terms or conditions of the contract.

(b) The agency shall notify the contractor in what respect the delivered goods or the rendered services are not in compliance with the contract. The notice shall further inform the contractor of what action the agency requires by the contractor in order to rectify the areas of noncompliance.

(c) The MIR date shall be the original MIR date increased by a number of days equal to the number of days between the date that the agency sends a written notice to the contractor that the delivered goods or the rendered services are not in compliance with the contract and the date that the agency sends a written notice to the contractor that the areas of noncompliance have been resolved.

(d) This section shall not apply in any case where the provisions of section 18.14 of this Part apply.

2 CRR-NY 18.13 Highway construction contracts {#sec-2-crr-ny-18.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.13}

(a) The MIR date shall be adjusted whenever, in the case of final payments on highway construction contracts, the Commissioner of Transportation determines that the contractor has failed to properly submit the necessary documents and other submissions prescribed by the contract specifications and requirements, by the provisions of subdivision 8 of section 38 of the Highway Law, and all other applicable State and Federal laws in order to enable the Department of Transportation to process the final payment properly and expeditiously.

(b) The Commissioner of Transportation shall send written notice to the contractor of his failure to submit the necessary documents and material. The notice shall indicate all documents and other submissions required by the agency.

(c) The MIR date shall be the original MIR date increased by a number of days equal to the number of days between the date that the Commissioner of Transportation sends written notice to the contractor of his failure to submit the necessary documents and material and the date that the agency receives the necessary documents and submissions.

2 CRR-NY 18.14 Notice of defects {#sec-2-crr-ny-18.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.14}

(a) Each State agency shall have 15 calendar days after receipt of an invoice by the State agency at its designated payment office to notify the contractor of (1) defects in the delivered goods, property or services, (2) defects in the invoice, or (3) suspected improprieties of any kind.

(b) Except as provided in subdivision (c) of this section, when a State agency notifies a contractor of such defects or suspected improprieties, and the contractor thereafter submits a corrected invoice or delivers corrected goods or services, the MIR date shall be the date upon which the corrected invoice or corrected goods or services are received by the agency. If a corrected invoice or corrected goods or services are not required, the MIR date shall be the date upon which the agency determines that the suspected improprieties have been resolved.

(c) If a State agency fails to notify a contractor of such defects or suspected improprieties within 15 calendar days of receipt of an invoice, the MIR date, as determined by subdivision (b) of this section, shall be adjusted to an earlier date, by a number of days equal to the number of days in excess of 15 that the State agency took after receipt of an invoice to notify the contractor of the defects or suspected improprieties.

ALLOCATION OF INTEREST ALLOCATION OF INTEREST

2 CRR-NY 18.15 Approvable voucher {#sec-2-crr-ny-18.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.15}

An approvable voucher is a voucher submitted by an agency in such form and supported by such substantiating documentation as the Comptroller may reasonably require.

2 CRR-NY 18.16 Receipt of an approvable voucher {#sec-2-crr-ny-18.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.16}

(a) Unless otherwise directed in the Comptroller’s Guide to Financial Operations (GFO), vouchers requiring the Comptroller’s approval shall be transmitted electronically to the Comptroller’s office through the Statewide Financial System (SFS) except where an offsite location has been authorized by the Comptroller to review such vouchers in which case the approvable vouchers may be addressed or delivered to such location. The date of OSC receipt of an approvable voucher is the first business day after agency submission of an approvable voucher in SFS.

(b) In any case where, after receipt of an approvable voucher, an MIR date is adjusted pursuant to sections 18.7-18.14 of this Part, the date of receipt of an approvable voucher shall be increased by a number of days equal to the adjustment provided by sections 18.7-18.14 of this Part.

2 CRR-NY 18.17 Unapprovable vouchers {#sec-2-crr-ny-18.17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.17}

(a) In any case where the Comptroller determines that a voucher delivered to his offices is not an approvable voucher because of a defect in the invoice or the voucher submitted by the contractor or the agency, he shall either:

(1) make the appropriate adjustment to the invoice or voucher; or

(2) reject the voucher and return it to the agency.

(b) Where an unapprovable voucher is corrected, as described in paragraph (a)(1) of this section, the MIR date shall not be changed, but the Comptroller may make an appropriate adjustment to the date of receipt of an approvable voucher.

(c)

(1) Where the Comptroller rejects a voucher he shall, on the same day that he returns the voucher to the agency, send notification to the contractor that the voucher has been rejected and returned to the agency for further information.

(2) Where a voucher is rejected pursuant to paragraph (a)(2) of this section because of a defect in the invoice submitted by the contractor, upon correction of the invoice, the MIR date of the corrected invoice shall be determined pursuant to section 18.14 of this Part.

(3) Where a voucher is rejected pursuant to paragraph (a)(2) of this section because of an error in the voucher submitted by the agency, the MIR date shall not be changed, but the date of receipt of an approvable voucher shall be the date that the voucher, properly adjusted, is received by the Comptroller.

2 CRR-NY 18.18 Allocation of interest {#sec-2-crr-ny-18.18 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.18}

Except where the provisions of Federal law or the provisions of section 179-o of the State Finance Law require otherwise, any interest payments required by this Part shall be paid from the same appropriation as that from which the related proper invoice is paid, except to the extent that the obligation to make a payment is incurred in whole or in part as the result of the failure of the Office of the State Comptroller to process an approvable voucher within eight days, excluding legal holidays, of the date of receipt of such voucher, in which case interest shall be charged to an appropriation to the Office of the State Comptroller at the appropriate daily interest rate for each day in excess of eight days, excluding legal holidays, which it took the Comptroller to pay the approvable voucher.

MISCELLANEOUS MISCELLANEOUS

2 CRR-NY 18.20 Designated payment office {#sec-2-crr-ny-18.20 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.20}

(a) Each agency shall record on every invoice the date received at the designated payment office. Each agency shall identify the designated payment office to which a proper invoice is to be submitted by a contractor. If the contract does not contain the mailing address of a designated payment office, and the agency has not otherwise notified the contractor of this address, the designated payment office shall be deemed to be any office of the agency to which the contractor reasonably sends a proper invoice.

2 CRR-NY 18.21 Inspection or audit period {#sec-2-crr-ny-18.21 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.21}

Whenever a written contract entered into on or after July 1, 1984 provides that payment must be preceded by an inspection period or by an audit to determine resources applied or used by the contractor, the contract shall set forth the maximum period within which the inspection or audit shall be completed or conducted.

2 CRR-NY 18.22 Notice of objection {#sec-2-crr-ny-18.22 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.22}

When a State agency sends a contractor a written notice under any provision of this Part, or takes any other action under this Part, such contractor may send a written notice to the State agency objecting to the actions taken by the agency. The notice shall be signed and dated, and set forth concisely and clearly the basis of the objection. Nothing herein shall be deemed to affect any judicial remedy which a contractor may have.

2 CRR-NY 18.23 Unenforceable agreement {#sec-2-crr-ny-18.23 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.23}

In the event that a written agreement entered into between a State agency and a contractor on or after July 1, 1984 is not a valid contract until it has been approved by the Comptroller, the agreement shall contain a provision stating that the agreement is subject to the approval of the Comptroller and that until such approval is given, the 30-day period, excluding legal holidays, for the payment of invoices without interest shall not begin.

2 CRR-NY 18.24 Inconsistent provisions {#sec-2-crr-ny-18.24 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 18.24}

The provisions of article XI-A of the State Finance Law and of these rules shall apply to all proper invoices received by the State on or after July 1, 1984, including invoices submitted under written contracts entered into on or prior to July 1, 1984 which contain inconsistent interest provisions, except where the interest provisions of such contract entered into on or prior to July 1, 1984 will provide a greater interest payment to the contractor, in which case the provisions of the contract shall govern. No contract entered into after July 1, 1984 shall contain any provision requiring the payment of interest in a manner inconsistent with article XI-A of the State Finance Law or these rules, including any provision requiring the payment of a greater amount of interest, and any such provision included in a contract shall be null and void.

Part 19 SPECIAL PAYMENTS - CLAIMS FOR DAMAGES

2 CRR-NY 19.1 General explanation {#sec-2-crr-ny-19.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 19.1}

This Part provides a uniform method and guidelines for processing and paying small claims against the State for damages to personal property or real property of State employees and those other than State employees and for personal injuries of those other than State employees, without formal legal action in the Court of Claims. In the event the claim against the State cannot be satisfied, the claimant must proceed in accordance with the Court of Claims Act.

2 CRR-NY 19.2 Eligible claims {#sec-2-crr-ny-19.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 19.2}

Claims eligible for payment pursuant to this Part are those for damages resulting from tort and nontort causes of action more particularly described in subdivisions 12, 12-a, 12-b, 12-c, 12-d, 12-e and 12-f of section 8 of the State Finance Law.

2 CRR-NY 19.3 Procedure for submitting claims {#sec-2-crr-ny-19.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 19.3}

The following steps must be taken to complete a claim.

(a) All claims must be submitted to the finance officer of the appropriate agency on a Standard Voucher (AC 92).

(b) The voucher must describe the circumstances which resulted in the claim including the names of any witnesses and the value of the damaged property. Claims for damages to personal property must be based on the reasonable value of the personal property involved at the time the damages occurred. The criteria to determine reasonable value include initial cost, age and condition of the property at the time the damage occurred. The voucher must also contain a release statement signed by the claimant which releases the State of New York from any future claims for the incident.

(c) The finance officer or other officer duly designated in accordance with agency policy must approve the claim.

(d) After the approval, claims that require the Attorney General's approval must be forwarded to the Attorney General's Office. If the Attorney General's approval is not required, proceed in accordance with subdivision (f) of this section.

(e) The Attorney General's Office will approve or disapprove the claim and return it to the agency.

(f) Approved claims with documentation attached to the voucher must be processed according to the standard procedures as described in the State Comptroller's “User Procedure Manual”, Volume III, Encumbrances and Expenditures, Section 7.1100.

2 CRR-NY 19.4 Claims in excess of statutory dollar limits {#sec-2-crr-ny-19.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 19.4}

Claims in excess of the statutory dollar limits must be submitted to the Court of Claims.

2 CRR-NY 19.5 Disapproved claims {#sec-2-crr-ny-19.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 19.5}

Each agency may at its own discretion, adopt an appeals process to handle situations where the finance officer or other designated officer disapproves a claim, or where the claimant is not satisfied with the amount approved on the claim. In the event a disapproved claim is subsequently approved after an appeals proceeding, the steps set forth in section 19.3 of this Part for an approved claim shall be followed.

2 CRR-NY 19.6 Petty cash {#sec-2-crr-ny-19.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 19.6}

Limited payment of claims from petty cash must have the same supporting documentation as for vouchered payments. Reimbursement of the petty cash account is done in accordance with normal petty cash procedures.

Part 20 PAYMENT OF PRIVATE COUNSEL FEES FOR REPRESENTATION OF A STATE EMPLOYEE PURSUANT TO SECTION 17 OF THE PUBLIC OFFICERS LAW

2 CRR-NY 20.1 Notification of retention of private counsel {#sec-2-crr-ny-20.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 20.1}

Whenever, pursuant to Public Officers Law, section 17(2)(b), an employee is entitled to representation by private counsel of his or her choice, private counsel retained to represent the employee in a civil action or proceeding in State or Federal court shall, upon such retention or as soon thereafter as possible, notify the State Comptroller in writing of such retention. Notification of retention must be accompanied by a copy of the certification by the Attorney General that the State employee is entitled to representation by private counsel.

2 CRR-NY 20.2 Notification of procedures to be followed by private counsel {#sec-2-crr-ny-20.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 20.2}

Upon receipt of notification of retention, the State Comptroller shall transmit to retained private counsel a copy of this regulation and a sample payment voucher in the form prescribed by the State Comptroller.

2 CRR-NY 20.3 Fee schedule {#sec-2-crr-ny-20.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 20.3}

The State Comptroller shall maintain a schedule of counsel fees, which shall designate fees for the services of partners, senior associates, junior associates and paralegal personnel. A copy of this schedule shall be transmitted to retained private counsel at the same time as the documents transmitted pursuant to section 20.2 of this Part.

2 CRR-NY 20.4 Authorization of higher counsel fees {#sec-2-crr-ny-20.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 20.4}

(a) Upon written request by private counsel, the State Comptroller, in his discretion, may authorize the payment, in appropriate circumstances, of fees for services in a particular case in amounts higher than those set forth in the fee schedule. A request for higher fees must set forth the circumstances justifying the request and shall include a list of the partners, associates and paralegals assigned to provide the services, together with their normal rates. In determining the appropriateness of authorizing higher fees, the State Comptroller shall consider, but not be limited to, the following factors:

(1) the prevailing fees for similar services in the area in which the case is to be heard;

(2) the experience of private counsel, both generally and in cases of the type under consideration;

(3) the difficulty of the case under consideration (e.g.,scientific or technical evidence, availability of witnesses).

(b) The State Comptroller shall approve or disapprove the request for higher fees and advise private counsel of his decision in writing. A copy of the decision shall be transmitted by the State Comptroller to the Attorney General.

(c) Except as provided in subdivision (d) of this section, any fees over and above those set forth in the fee schedule which have been approved by the State Comptroller shall apply only to services rendered subsequent to such approval.

(d) The State Comptroller may approve fees over and above those set forth in the fee schedule for services rendered prior to such approval when exigencies of time and scheduling in connection with the case under consideration effectively preclude a timely request for higher fees.

2 CRR-NY 20.5 Fees and disbursements {#sec-2-crr-ny-20.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 20.5}

(a) The State Comptroller shall reimburse retained private counsel for fees reasonably incurred and properly submitted and documented as required by these regulations.

(b) The State Comptroller shall also reimburse private counsel for reasonable disbursements actually incurred in connection with the representation of the employee. Counsel must notify the State Comptroller of substantial disbursements, such as expert fees and travel expenses, in advance of their being incurred so that they may be reviewed and evaluated by the State Comptroller. Failure to provide adequate advance notice of substantial disbursements may be the basis for denial of reimbursement. Reimbursement for travel and related expenses shall be in accordance with travel and related expense reimbursement rates currently in effect for management and confidential employees of the State, a schedule of which shall be delivered to private counsel.

2 CRR-NY 20.6 Submission of vouchers {#sec-2-crr-ny-20.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 20.6}

(a) All vouchers must be submitted for payment at least monthly unless no charges or disbursements were incurred during the preceding month.

(b) All vouchers submitted for payment must be accompanied by a statement which:

(1) describes in detail the services rendered (statements such as “court appearance” or “legal research” are not acceptable);

(2) itemizes the number of hours billed for such services; and

(3) sets forth the applicable rate chargeable for each of the services itemized in such statement.

(c) All disbursements must be itemized to include the date, description and amount.

(d) Each voucher must be accompanied by an attorney's affidavit or affirmation attesting to the fact that the attorney has personally performed or supervised the activities for which compensation is sought, that the activities were necessary and reasonable for the defense of the matter being heard, that the charges are reasonable and that the information submitted is accurate. All rates and disbursements charged are subject to audit and justification.

Part 22 PROMPT CONTRACTING AND INTEREST PAYMENTS FOR NOT-FOR-PROFIT ORGANIZATIONS

2 CRR-NY 22.1 Purpose {#sec-2-crr-ny-22.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.1}

The purpose of this Part is to implement the provisions of article XI-B of the State Finance Law as added by chapter 166 of the Laws of 1991 and as amended by chapter 648 of the Laws of 1992 and chapter 292 of the Laws of 2007.

2 CRR-NY 22.2 Definitions {#sec-2-crr-ny-22.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.2}

All terms shall have the meaning prescribed to them pursuant to section 179-q of the State Finance Law unless otherwise provided for in this Part.

2 CRR-NY 22.3 Agency notification with respect to renewal contracts {#sec-2-crr-ny-22.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.3}

A State agency administering a contract subject to this Part, shall, as required by section 179-t of the State Finance Law, provide written notice by mail (including the use of electronic mail) to the not-for-profit organization of its preliminary determination whether or not to renew the contract. Such notification must be provided no later than 90 days prior to the end of the contract or 30 days after an appropriation providing funding for continued payments shall become law, whichever is later. Where a State agency fails to provide such notice by the required date, the existing contract shall be deemed to be extended until 90 days after the date the State agency provides the not-for-profit organization with the required notice. The not-for-profit organization shall be entitled to payment consistent with the terms of the existing contract and may submit invoices or vouchers to the State agency on billing cycles consistent with those applicable to the existing contract. The State agency shall then submit the necessary documentation to the comptroller in order for payment to be processed. The not-for-profit organization shall be entitled to interest under article IX-A of the State Finance Law to the extent that payment is not timely made as provided in such article IX-A, which relates to the prompt payment of contracts.

2 CRR-NY 22.4 Comptroller’s determination whether unusual circumstances warrant denial of interest {#sec-2-crr-ny-22.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.4}

(a) If a State agency believes that it is unable to comply with the timeframes established by section 179-t of the State Finance Law due to unusual circumstances beyond its control, and that such unusual circumstances warrant the denial of interest, in whole or in part, to the not-for-profit organization, the State agency shall so advise the comptroller, the Division of the Budget and the not-for-profit organization and shall provide the basis for such assertion in writing on or before 90 days prior to the end of the contract or 30 days after an appropriation providing funding for continued payments shall become law, whichever is later.

(b) Unusual circumstances does not mean a State agency’s:

(1) failure to plan for implementation of a program;

(2) failure to assign sufficient staff resources to implement a program;

(3) failure to establish a schedule for the implementation of a program; or

(4) failure to anticipate any other reasonably foreseeable circumstance; or

(5) routine contract negotiations.

(c) Not more than 20 days after receipt of the State agency’s written notice, the comptroller shall determine whether unusual circumstances exist and whether such circumstances warrant the denial of interest in whole or in part; and inform the State agency. If the comptroller determines that the denial of interest is not warranted, in whole or in part, the comptroller shall notify the State agency, the Division of the Budget, and the not-for-profit organization of such determination. Thereafter, the State agency shall, if the contract is then fully executed, immediately submit for the comptroller’s approval a voucher requesting payment of the interest, if any, due under section 22.7 of this Part. If the contract is not then fully executed, the State agency shall immediately submit a voucher for the comptroller’s approval requesting payment of interest, if any, due under section 22.7 of this Part once the contract is fully executed.

2 CRR-NY 22.5 Written directives {#sec-2-crr-ny-22.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.5}

(a)

(1) Upon receipt of a written directive (by mail or electronic mail) a not-for-profit organization may begin to provide the services required by a State agency on the date provided by such written directive. A written directive means a written request by a State agency to a not-for-profit organization authorizing such organization either to begin providing services during the negotiation of a contract or to continue providing services during the negotiation of a renewal contract. For purposes of this section, a State agency shall be deemed to have issued a written directive where:

(i) with respect to a renewal contract it has provided notice to the not-for-profit organization of its intent to renew the contract which shall include the transmission of a proposed renewal agreement to the not-for-profit organization; or

(ii) with respect to new contracts, it has provided the not-for-profit organization with a proposed contract containing a start date, in which case such start date shall be deemed the date of the written directive.

(2) If a written directive does not contain a start date, then the not-for-profit is authorized to provide services immediately.

(b) Any not-for-profit organization receiving a written directive to perform services under a new contract between such not-for-profit organization and a State agency that has not been fully executed by the contract start date shall be eligible for interest payments to the extent authorized by section 22.7 of this Part.

(c) In order for a State agency to exercise an option in an existing contract to provide for an additional quarter of financing or any advance payment to such not-for-profit organization in accordance with section 22.6 of this Part, the State agency shall provide a written directive to such organization.

(d) Any not-for-profit organization in receipt of a written directive from a State agency with an existing contract which does not contain an optional financing quarter may be eligible for an advance payment in accordance with section 22.6 of this Part.

(e) A written directive shall only be executed by State agency personnel duly authorized to sign contracts on behalf of such State agency.

2 CRR-NY 22.6 Advance payments for renewal contracts {#sec-2-crr-ny-22.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.6}

(a) Where a State agency administering a contract has advised a not-for-profit organization of the State agency's intention to renew the contract, the State agency may authorize an advance payment to the not-for profit organization pursuant to this section pending execution of the renewal contract, if such contract is not fully executed by the commencement date of the renewal contract.

(b) Existing or renewal contracts that do not contain an optional financing or fifth quarter financing provision shall be eligible for an advance payment providing such organization receives a written directive from a State agency.

(c) An advance payment under this section shall not exceed one quarter of the amount paid or to be paid to the not-for-profit organization pursuant to the existing contract.

(d) Any advance payment shall offset the amount of money due to the organization for services provided during the period for which payment was made.

(e) Any State agency that wishes to provide an advance payment pursuant to this section shall submit to the comptroller a written directive, a voucher and such other documents as may be required by the comptroller. The comptroller shall review such written directive and either approve or disapprove such written directive. Such written directive shall include language indicating that if the agency subsequently determines pursuant to section 179-w of the State Finance Law that substantive and significant differences exist between the State agency and the not-for-profit organization in the negotiation of the contract or that the not-for-profit organization is not negotiating the renewal contract in good faith, the written directive shall be deemed suspended and the not-for-profit organization shall not be eligible for subsequent advance payments thereunder.

2 CRR-NY 22.7 Interest payments {#sec-2-crr-ny-22.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.7}

(a)

(1) A not-for-profit organization that provides services to a State agency pursuant to a written directive prior to the date that the contract for such services has been fully executed, shall, once such contract has been approved and become fully executed, be entitled to interest in accordance with, and to the extent authorized by, this section on those moneys that would be due under the terms of a contract or a renewal contract prior to the date on which the contract became fully executed.

(2) For purposes of this section, a State agency shall be deemed to have issued a written directive where:

(i) with respect to a renewal contract it has provided notice to the not-for-profit organization of its intent to renew the contract which shall include the transmission of a proposed renewal agreement to the not-for-profit organization; or

(ii) with respect to new contracts, it has provided the not-for-profit organization with a proposed contract containing a start date, in which case such start date shall be deemed the date of the written directive.

(b) A not-for-profit organization that has borrowed funds to provide services pursuant to a written directive may receive interest under this section where the not-for-profit organization has:

(1) been denied an advance payment pursuant to section 22.6 of this Part; and

(2) did not obtain a loan from the Not-For-Profit Short Term Revolving Loan Fund.

(c) A not-for-profit organization may not receive interest payments pursuant to this section where the not-for-profit organization received an advance payment pursuant to section 22.6 of this Part, provided however that if the contract has not been fully executed at the end of the period covered by such advance payment, the not-for-profit organization shall be eligible for interest payments pursuant to this section in respect to services performed after such period; or

(d)

(1) Except as provided in paragraph (2) of this subdivision, any not-for-profit organization eligible to receive an interest payment pursuant to subdivision (a) or (b) of this section shall receive such interest payments at a rate equal to the rate set by the Commissioner of Taxation and Finance for corporation taxes pursuant to paragraph l of subsection (e) of section 1096 of the Tax Law.

(2) A not-for-profit organization eligible to receive interest pursuant to subdivision (b) of this section shall submit to the State agency the interest rate at which it borrowed funds and such other documentation as prescribed under subdivision 2 of 179-v of the State Finance Law. Such not-for-profit organization shall receive interest pursuant to this section at a rate of interest equal to the rate it is paying on such borrowed funds, provided the State agency has approved of such rate and the comptroller determines such rate is reasonable.

(e)

(1) Interest shall be due a not-for-profit organization for each payment that would have been due if the contract had been fully executed before the scheduled commencement date. Interest shall be calculated for the period commencing 30 days after the end of each billing period as specified in the contract and ending on the date payment is actually made, except where under the terms of the contract the not-for-profit organization is entitled to a payment or payments on specified dates without the submission of an invoice or voucher, in which case interest shall run from each such specified date or dates. Interest shall be calculated separately with respect to each payment due under the contract. For purposes of this section, if a contract does not specify billing periods or a payment schedule, it shall be presumed that the not-for-profit is authorized to submit invoices or vouchers at the end of each month for a pro rata portion of the total contract amount. The State agency is responsible for calculating interest due and preparing a separate voucher to pay such interest consistent with this section. A State agency may not deny interest to a not-for-profit organization on the basis that it failed to submit invoices or vouchers during the period prior to final execution of the contract. However, where the not-for-profit fails to submit an invoice or voucher for such payment by the 30th day after the date the contract became fully executed, no additional interest shall accrue after such 30th day.

(2) Once a late contract is fully executed, interest on any late payments due subsequent to the date the contract is fully executed shall be made in accordance with the requirements of the article XI-A of the State Finance Law which relates to the prompt payment of contracts.

(f) Any interest payments made pursuant to subdivision (a) or (b) of this section shall be made from appropriations for State operations that are available for the administrative programs for the State agency which contracted with the not-for-profit organization. Interest payments shall not be made from amounts appropriated for program purposes. Any interest payments made to a not-for-profit organization shall not reduce the amount of money that otherwise would be payable to the not-for-profit organization under the terms of the contract.

(g) No interest shall be payable pursuant to the provisions of this section with respect to any contract or renewal contract where such contract is required to be approved by the attorney general and the comptroller, but is never approved.

(h) No interest shall be payable under this section where a State agency and a not-for-profit organization have entered into an agreement under section 179-v subdivision (7) waiving interest, and the comptroller has determined that the waiver of interest is warranted. If the comptroller determines the waiver of interest is unwarranted the State agency shall immediately submit for the comptroller’s approval a voucher requesting payment of interest to such not-for-profit organization. If such voucher is not received within 30 days after the date of the comptroller’s written determination, the comptroller will calculate the amount of unpaid interest due to the not-for-profit organization pursuant to section 179-v of the State Finance Law and this Part, and pay such amount to the not-for-profit organization as a charge against the agency’s appropriations.

(i)

(1) Interest payable pursuant to the provisions of this section shall be suspended where the State agency has, in accordance with section 179-w of the State Finance Law, determined that significant and substantive differences exist between the State agency and the not-for-profit organization in the negotiation of a contract or renewal contract or that the not-for-profit organization is not negotiating in good faith; and the State agency has provided written notice of such determination to the not-for-profit organization and the comptroller, as required by section 179-w.

(2) Interest shall be suspended only for the period during which the State agency has determined that the significant and substantive differences existed or the not-for-profit was not negotiating in good faith. Any State agency that has made a determination under paragraph (1) of this subdivision shall, when it submits the contract to the comptroller for approval, provide notice to the comptroller and the not-for-profit organization of the date on which the conditions that justified the suspension of interest, ceased to exist.

(j) A determination that extenuating circumstances exist pursuant to section 179-w shall not suspend the accrual of interest unless the State agency also determines, and such determination is approved by the comptroller, that the circumstances are unusual which warrant the denial of interest as prescribed by section 22.4 of this Part.

(k) No State agency shall be liable for interest payments under this section on contracts executed pursuant to appropriations made in whole or in part for liabilities incurred in a prior fiscal year that were awarded without the use of competitive process.

2 CRR-NY 22.8 [Repealed] {#sec-2-crr-ny-22.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.8}

2 CRR-NY 22.9 Reports {#sec-2-crr-ny-22.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.9}

(a) On or before March 31st, each State agency shall, for each annual period beginning January second and ending the following January first prepare and transmit a report to the Office of the State Comptroller in relation to such State agency's contracting activities with not-for-profit organizations. The Office of the State Comptroller shall make such report available to the public.

(b) Such report shall include, but not be limited to:

(1) information regarding the number of programs affected by article XI-B of the State Finance Law;

(2) the ability of the State agency to meet the time frames described within article XI-B of the State Finance Law and the regulations;

(3) the number of programs, contracts, renewal contracts both complying and failing to comply with the time frames set forth in article XI-B of the State Finance Law;

(4) the number of contracts on which interest was paid;

(5) the amount of interest paid by each State agency; and

(6) any other information deemed relevant in relation to the implementation of prompt contracting and payments affecting not-for-profit organizations.

(c) On or before May 31st of each year, the comptroller shall prepare an annual report examining the effectiveness and implementation of prompt contracting; and make any recommendations deemed necessary to improve existing contracting and payment methods between State agencies and not-for-profit organizations. Such report shall be transmitted to the temporary president and minority leader of the Senate, the speaker and minority leader of the Assembly, the director of the Division of the Budget, the chairman of the Senate Finance Committee and the chairman of the Assembly Ways and Means Committee.

2 CRR-NY 22.10 [Repealed] {#sec-2-crr-ny-22.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 22.10}

Part 23 NOT-FOR-PROFIT SHORT-TERM REVOLVING LOAN FUND

2 CRR-NY 23.1 Purpose {#sec-2-crr-ny-23.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 23.1}

The purpose of this regulation is to implement the provisions of section 179-z of the State Finance Law.

2 CRR-NY 23.2 Definitions {#sec-2-crr-ny-23.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 23.2}

Unless otherwise specified, the terms used in this Part shall have the same meaning as provided in Part 22 of this Title.

2 CRR-NY 23.3 Loan application procedure {#sec-2-crr-ny-23.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 23.3}

(a) Only a not-for-profit organization in receipt of a written directive may request a loan from the Not-for-Profit Short-Term Revolving Loan Fund (hereinafter the fund) created pursuant to section 97-jj of the State Finance Law. In order to obtain a loan from the fund, a not-for-profit organization shall request a loan application from the State agency which has provided a written directive to such organization.

(b) Upon receipt of a request from a not-for-profit organization for a loan application, the State agency shall immediately provide the loan application and a repayment agreement to such organization. The application and the repayment agreement shall be in a form prescribed by the State Comptroller.

(c) The State agency, upon receipt of a completed application and executed repayment agreement, shall have not more than 15 days to make a determination recommending approval or disapproval of the loan application to the State Comptroller.

(d) Upon making its determination on a loan application submitted by a not-for-profit organization for a loan from the fund, the State agency shall immediately forward its determination, the completed application and executed repayment agreement to the State Comptroller. If the State agency makes a determination in accordance with subdivision (f) of this section, the agency shall not execute the repayment agreement.

(e) The State Comptroller, upon receipt of the completed application, executed repayment agreement and determination from a State agency pertaining to a loan for a not-for-profit organization from the fund, shall review such application and determination. Not more than 15 days after receipt of the application from the State agency, the State Comptroller shall notify the State agency and the not-for-profit organization whether or not the application for a loan from the fund has been approved. Upon approval the State Comptroller shall provide the loan to the not-for-profit organization.

(f) Should a State agency determine that a not-for-profit organization is ineligible for a loan from the fund and the State Comptroller agrees with this determination, the State Comptroller shall immediately notify the not-for-profit organization of its determination and the reasons therefor. If the State Comptroller disagrees with the State agency's determination and finds that a not-for-profit organization is eligible for a loan, the Comptroller shall return the repayment agreement to the agency for its execution. Immediately upon executing the repayment agreement the State agency shall return it to the Comptroller.

(g) Should the State Comptroller determine that a not-for-profit organization is ineligible for a loan from the fund or disapproves the loan application for any other reason, the State Comptroller shall immediately notify the not-for-profit organization and the State agency of its determination and the reasons therefor.

2 CRR-NY 23.4 Criteria for loan eligibility {#sec-2-crr-ny-23.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 23.4}

In order to determine whether a not-for-profit organization is eligible for a loan from the fund, the not-for-profit organization shall provide a State agency with information demonstrating to the State agency that:

(a) The not-for-profit organization is capable of providing the services contemplated by the proposed contract.

(b) The not-for-profit organization would not be able to provide services without a loan. Indicia of the not-for-profit organization's inability may include the following factors:

(1) insufficient cash to meet the next payroll, benefits or payroll taxes;

(2) insufficient cash to make its next rental, utilities or insurance payment(s);

(3) vendors provide goods and services to the not-for-profit organization on a cash-on-delivery basis only;

(4) accounts payable exceeds 45 days due to inadequate cash flow; and

(5) any other information deemed by the State agency or the State Comptroller to indicate that the not-for-profit organization is unable to provide the services contemplated by the proposed contract without a loan from the fund.

(c) The not-for-profit organization can provide, and the State agency can confirm, that the not-for-profit organization did not receive an advance payment from the State for the proposed contract.

(d) The State agency may only make a determination recommending a loan to a not-for-profit organization upon a finding that such organization cannot provide or continue to provide services without a loan from the fund.

2 CRR-NY 23.5 General terms applicable to all loans {#sec-2-crr-ny-23.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 23.5}

(a) Loans from the Not-for-Profit Short-Term Revolving Loan Fund shall not bear interest.

(b) The amount of each such loan shall not exceed one-half of the first quarter payment of the proposed contract.

(c) Repayment of such loan shall be made by reducing the first payment(s) due under the fully executed contract from the State. Provided however with the approval of the State Comptroller repayment of such loans may be prorated over the term of the fully executed new or renewal contract. The not-for-profit organization must demonstrate to the State agency and State Comptroller that it is financially unable to repay the loan obtained from the fund from first moneys to be received pursuant to the fully executed contract to receive an extended term for repayment. In no event shall the term of the loan exceed one year.

2 CRR-NY 23.6 Ineligibility for other benefits {#sec-2-crr-ny-23.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 23.6}

Any not-for-profit organization receiving a loan from the fund shall be ineligible to receive interest from a State agency, notwithstanding the provisions of section 179-v of the State Finance Law and shall be ineligible to receive advance payments, notwithstanding section 179-u of the State Finance Law.

Part 24 CONTRACT AWARD PROTEST PROCEDURE FOR CONTRACT AWARDS SUBJECT TO THE COMPTROLLER’S APPROVAL

2 CRR-NY 24.1 Purpose and applicability {#sec-2-crr-ny-24.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 24.1}

The purpose of this Part is to set forth the procedure to be used when an interested party challenges a contract award by a public contracting entity that is subject to the approval of the Comptroller. This Part shall apply to all contract awards where the Comptroller’s approval is required, or provided for, by law, resolution or otherwise, including, but not limited to, contracts made by or for the State pursuant to section 112 of the State Finance Law, section 2879-a of the Public Authorities Law, or any other special law.

2 CRR-NY 24.2 Definitions {#sec-2-crr-ny-24.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 24.2}

(a) Appeal means a written challenge by an interested party of a protest determination rendered by a public contracting entity, regarding a contract award that is subject to the approval of the Comptroller.

(b) Bidder means an individual, entity or other offeror submitting a response to a solicitation by a public contracting entity.

(c) Bureau of Contracts means the business unit within the Office of the State Comptroller that is responsible for reviewing and approving contracts subject to the Comptroller’s approval.

(d) Contract award means a written determination from a public contracting entity to a bidder indicating that the public contracting entity has selected a particular bidder under the procurement process.

(e) Interested party means a participant in the procurement process, and those who can establish that their participation in the procurement process was foreclosed by the actions of the public contracting entity and have suffered harm as a result of the manner in which the procurement was conducted.

(f) Protest means a written challenge by an interested party of a contract award that is subject to the approval of the Comptroller.

(g) Protesting party means an interested party who has filed a protest or an appeal with the Bureau of Contracts.

(h) Public contracting entity means any State agency, department, board, commission, office or institution; the State University of New York; the City University of New York; or any public authority, public benefit corporation, or other public or quasi-public entity which is awarding, or has awarded a contract subject to the Comptroller’s approval.

(i) Solicitation means a document issued by a public contracting entity, requesting a response to a procurement need, including an invitation for bids, a request for proposals, or another written method of seeking a bid or a proposal for a specified purpose.

(j) Successful bidder means the bidder whose bid or proposal has been selected for contract award by a public contracting entity; or, in the case of a contract entered into on a noncompetitive basis, an individual or entity that has executed a contract that is subject to the Comptroller’s approval.

2 CRR-NY 24.3 Proper filing of initial protests {#sec-2-crr-ny-24.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 24.3}

(a) Proper filing of an initial protest depends on whether the public contracting entity has its own bid protest procedure and has provided bidders with proper notice of such. Where the public contracting entity has a written protest procedure and has provided notice of such procedure in the solicitation, a protest shall be filed initially with the public contracting entity. However, an interested party may file an initial protest with the Bureau of Contracts in accordance with section 24.4 of this Part, after the public contracting entity has made a contract award, if:

(1) the public contracting entity has not provided notice of its protest procedure in the solicitation; or

(2) the facts that would give rise to a protest are not known to, and could not reasonably have been known to, an interested party prior to the date by which a protest was required to be filed with the public contracting entity.

2 CRR-NY 24.4 Initial protests filed with the Bureau of Contracts {#sec-2-crr-ny-24.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 24.4}

(a) An initial protest to the Bureau of Contracts must be in writing and must contain specifically enumerated factual and/or legal allegations, setting forth the basis on which the protesting party challenges the contract award by the public contracting entity.

(b) Time to file a protest.

(1) An interested party must file an initial protest with the Bureau of Contracts within 10 business days of receiving notice of the contract award which it seeks to challenge or, if a debriefing has been requested by the interested party, within 5 business days of the debriefing, whichever is later.

(2) If the interested party is not provided notice of the contract award, the interested party may file a protest with the Bureau of Contracts at any time after the contract award and prior to the Comptroller’s final action on the contract.

(3) In the case of a protest related to a procurement that resulted in contract awards to multiple successful bidders, the interested party must file such protest with the Bureau of Contracts prior to the Comptroller’s final action on any contract award related to that procurement.

(c) Service and delivery.

(1) The protesting party must simultaneously deliver a copy of the protest to the public contracting entity and the successful bidder, and shall provide evidence of such delivery, either by showing that an electronic copy has been provided, or by attaching to the protest an affirmation in writing as to such delivery. If the protesting party does not know the identity of the successful bidder, the protesting party shall so state in its protest and the public contracting entity shall provide the successful bidder with a copy of the protest.

(2) In the case of a protest related to a procurement that resulted in contract awards to multiple successful bidders, the Bureau of Contracts shall determine whether any of the successful bidders would be affected by the outcome of the protest and, thus, whether any of the successful bidders should be provided with a copy of the protest and an opportunity to respond.

(d) Answers to the protest.

(1) The public contracting entity may file an answer to the protest with the Bureau of Contracts simultaneously with the delivery of the contract to the Bureau of Contracts for its review, or within seven business days of the filing of the protest, whichever is later. The public contracting entity’s answer should address all factual and legal allegations contained in the protest. A copy of the public contracting entity’s answer shall be simultaneously delivered to the protesting party and the successful bidder, and the public contracting entity shall provide evidence of such delivery, either by showing that an electronic copy has been provided, or by attaching to the answer an affirmation in writing as to such delivery.

(2) If there are multiple successful bidders, the public contracting entity shall deliver a copy of its answer to the successful bidders at the direction of the Bureau of Contracts.

(3) The successful bidder may file an answer to the protest with the Bureau of Contracts no later than the date that the public contracting entity is required to file its answer. If the successful bidder chooses to file an answer, it must simultaneously deliver a copy of such answer to the public contracting entity and the protesting party, and provide evidence of such delivery, either by showing that an electronic copy has been provided, or by attaching to the answer an affirmation in writing as to such delivery.

(e) Protesting party’s reply.

(1) The protesting party may, but is not required to, file a reply to the answer of the public contracting entity and the successful bidder. Such reply shall be filed with the Bureau of Contracts no later than three business days after the date that the public contracting entity’s answer is filed.

(2) A copy of such reply shall be simultaneously delivered to the public contracting entity and the successful bidder and the protesting party shall provide evidence of such delivery, either by showing that an electronic copy has been provided, or by attaching to the reply an affirmation in writing as to such delivery.

(3) If there are multiple successful bidders, the protesting party shall deliver a copy of its reply to the successful bidders at the direction of the Bureau of Contracts.

(f) The protesting party’s reply, if submitted, shall constitute the final submission permitted as of right under this section. The Bureau of Contracts is not required to consider any additional filings or any materials submitted beyond those filings specifically set forth in this section in rendering its determination of the protest.

(g) Upon its own initiative, or upon request of any participant in the protest process, the Bureau of Contracts may in its sole discretion act on an expedited basis, in which case the Bureau of Contracts will advise all participants in writing of filing deadlines.

(h) The Bureau of Contracts may summarily deny a protest that fails to contain specifically enumerated factual or legal allegations that set forth the basis on which the protesting party challenges the contract award, or where the protest raises only issues of law that have previously been decided by the courts or by the Bureau of Contracts.

(i) The Bureau of Contracts may, in its sole discretion and for good cause shown, waive any deadline set forth in this section.

(j) Where appropriate, the Bureau of Contracts may require the public contracting entity, the protesting party, the successful bidder, or any other interested party, to address additional issues identified by the Bureau of Contracts and submit further information regarding the procurement.

(k) Nothing herein shall preclude the Bureau of Contracts from obtaining information relevant to the procurement from any outside source, as it deems appropriate. Reliance on outside source information, if any, will be identified by the Bureau of Contracts in its written determination.

(l) The Bureau of Contracts shall issue a written determination, contemporaneously with its final action on the contract, addressing the issues raised by the protest. The determination shall make findings of fact and conclusions of law. The Bureau of Contracts shall provide a copy of the determination to all participants in the protest and the successful bidder. The determination shall be made part of the procurement record.

2 CRR-NY 24.5 Appeal of public contracting entity’s protest determination {#sec-2-crr-ny-24.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 24.5}

(a) Time to file an appeal.

(1) An interested party may file an appeal of a public contracting entity’s protest determination with the Bureau of Contracts within 10 business days of receiving the public contracting entity’s protest determination.

(2) In its appeal, the interested party shall set forth the basis on which it challenges the public contracting entity’s protest determination. The interested party shall also include, as an exhibit to its appeal, a copy of the initial bid protest submitted to the public contracting entity and the determination of such bid protest issued by the public contracting entity.

(b) Service and delivery.

(1) The protesting party must simultaneously deliver a copy of the appeal to the public contracting entity and the successful bidder, and shall provide evidence of such delivery, either by showing that an electronic copy has been provided, or by attaching to the appeal an affirmation in writing as to such delivery.

(2) Where the public contracting entity upholds the protest and the initial successful bidder files the appeal, a copy of the appeal shall be served on the original protesting party.

(3) In the case of an appeal related to a procurement that resulted in contract awards to multiple successful bidders, the Bureau of Contracts shall determine, in its sole discretion, whether any or all of the successful bidders should be provided with a copy of the appeal and an opportunity to respond.

(c) Answers to the appeal.

(1) The public contracting entity may file an answer to the appeal with the Bureau of Contracts simultaneously with the delivery of the contract to the Bureau of Contracts for its review, or within seven business days of the filing of the appeal, whichever is later. A copy of the public contracting entity’s answer shall be simultaneously delivered to the protesting party and the successful bidder, and the public contracting entity must provide evidence of such delivery, either by showing that an electronic copy has been provided, or by attaching to the answer an affirmation in writing as to such delivery.

(2) If there are multiple successful bidders, the public contracting entity shall deliver a copy of its answer to the successful bidders at the direction of the Bureau of Contracts.

(3) The successful bidder (or, where the public contracting entity upholds the agency level protest, the original protesting party) may file an answer to the appeal with the Bureau of Contracts no later than the date that the public contracting entity is required to file its answer. If the successful bidder chooses to file an answer, it must simultaneously deliver a copy of such answer to the public contracting entity and the protesting party, and it must provide evidence of such delivery, either by showing that an electronic copy has been provided, or by attaching to the answer an affirmation in writing as to such delivery.

(d) The answers to the appeal, if submitted, shall constitute the final submission permitted as of right under this section. The Bureau of Contracts is not required to consider any additional filings or any materials submitted beyond those filings specifically set forth in this section in rendering its determination of the appeal.

(e) The Bureau of Contracts may, in its sole discretion and for good cause shown, waive any deadline set forth in this section.

(f) Where appropriate, the Bureau of Contracts may require the public contracting entity, the protesting party, the successful bidder, or any other interested party, to address additional issues identified by the Bureau of Contracts and submit further information regarding the procurement.

(g) Nothing herein shall preclude the Bureau of Contracts from obtaining information relevant to the procurement from any outside source, as it deems appropriate. Reliance on outside source information, if any, will be identified by Bureau of Contracts in its written determination.

(h) The Bureau of Contracts shall issue a written determination, contemporaneously with its final action on the contract, addressing the issues raised by the appeal. The Bureau of Contracts shall provide a copy of the determination to all interested parties. The determination shall be made part of the procurement record.

2 CRR-NY 24.6 Notice and filing {#sec-2-crr-ny-24.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 24.6}

For purposes of this Part, any required notice or filing shall be in writing and shall be deemed effective upon actual receipt by the intended recipient.

Chapter II MUNICIPAL AFFAIRS

Subchapter A SALES OF BONDS AND NOTES; DEBT STATEMENTS

Part 25 REQUIREMENTS FOR NOTICE OF SALE OF BONDS BY MUNICIPALITIES, SCHOOL DISTRICTS AND DISTRICT CORPORATIONS

2 CRR-NY 25.1 Purpose of regulation {#sec-2-crr-ny-25.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 25.1}

The purpose of this regulation is to prescribe requirements for notices of sale of bonds by municipalities, school districts and district corporations. It is adopted pursuant to section 57.00(d) of the Local Finance Law, which requires the Comptroller to adopt a rule in connection with the sale of bonds:

(a) designating a financial newspaper in which notices of the sale of bonds may be published;

(b) prescribing the procedure for the circularization of such notices;

(c) prescribing requirements relating to the content, publication or circularization of such notices, in addition to but not inconsistent with the provisions of the Local Finance Law; and

(d) prescribing the requirements for the alternative and permissive publication or circularization of notices of the sale of bonds of an issue not exceeding $5,000, as permitted by section 63.00 of the Local Finance Law.

2 CRR-NY 25.2 Publication of notice {#sec-2-crr-ny-25.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 25.2}

Each notice of the sale of bonds shall be published at least once in the Daily Bond Buyer, 1 State Street Plaza, New York, NY 10004, except as otherwise provided in sections 25.3 and 25.4 of this Part.

2 CRR-NY 25.3 Alternative method of publication and circularization {#sec-2-crr-ny-25.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 25.3}

In lieu of the requirement for publication prescribed by section 25.2 of this Part, such notice of the sale of bonds may be published and circularized in the following manner:

(a) by at least one publication of such notice in any newspaper or newspapers which are designated for that purpose by the finance board of the issuer; and

(b) by mailing a copy of such notice to the following:

(1) State Comptroller, 110 State Street, Albany, NY 12236-0001;

(2) at least two banks or trust companies having a place of business in the county or counties in which the issuer is located, or, if only one bank is located in such county or counties, then to such bank and to at least two banks or trust companies having a place of business in an adjoining county;

(3) the Daily Bond Buyer, 1 State Street Plaza, New York, N.Y. 10004; and

(4) at least 10 bond dealers which are designated for that purpose by the finance board of the issuer. the finance board may authorize the chief fiscal officer to make such designations.

2 CRR-NY 25.4 Alternative methods for certain issues {#sec-2-crr-ny-25.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 25.4}

In the case of the public sale of bonds of an issue not exceeding $500,000, as permitted by section 63.00 of the Local Finance Law, such notice shall be given by one of the two following methods:

(a) as provided in section 25.2 of this Part; or

(b) as provided in subdivision (b) of section 25.3 of this Part, except that the issuer need not mail a copy of the notice to the Daily Bond Buyer as provided in paragraph (3) of subdivision (b) nor to more than five bond dealers designated by the finance board of the issuer.

2 CRR-NY 25.5 Time of publication and circularization {#sec-2-crr-ny-25.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 25.5}

The publication of such notice pursuant to this Part shall be made not less than 5 or more than 30 days before the date of the sale. The notice, if mailed pursuant to section 25.2 or 25.3 of this Part, shall be mailed not less than 8 nor more than 30 days before the date of sale.

2 CRR-NY 25.6 Information required {#sec-2-crr-ny-25.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 25.6}

In addition to the information required by section 58.00 of the Local Finance Law, each notice of the sale of bonds shall contain:

(a)

(1) If a single issue is being sold, a description of the bonds, showing the amount, purpose, date, denominations and maturities of the issue. If two or more issues are being sold as a single issue pursuant to paragraph (c) of section 57.00 of the Local Finance Law, a description of the bonds, showing as to each issue the amount and purpose; and, as to the combined issue the date, denominations and maturities of the bonds.

(2) A statement as to whether the bonds will be issued in registered form, in bearer form with coupons, or, as permitted in certain cases by section 63.00 of the Local Finance Law, in bearer form without coupons; whether the bonds may be converted into bearer or registered form, as the case may be; whether the bonds are redeemable prior to maturity; whether the interest will be paid annually or semiannually; the medium of payment; the place or places of payment; the tax status of interest on the bonds; and the place and the proposed date for delivery of the bonds.

(b) In the case of counties, cities, towns, villages and school districts, a statement that the bonds are general obligations of the issuer; that there is no limitation, either as to rate or amount, upon ad valorem taxes upon taxable real property in the (county) (city) (town) (village) (school district) which may be required to pay the bonds and the interest thereon that the New York State Constitution requires the issuer to pledge its faith and credit for the payment of the principal of the bonds and the interest thereon and to make annual appropriations for the amounts required for the payment of such interest and the redemption of the bonds; and that the Constitution also provides that if at any time the appropriating authorities fail to make the required appropriations for the annual debt service on the bonds and certain other obligations of the issuer, a sufficient sum shall be set apart from the first revenues thereafter received and shall be applied for such purposes and that the fiscal officer of the issuer may be required to set apart and apply such revenues as aforesaid at the suit of any holder of such obligations.

(c) In the case of cities, city school districts or school districts, if the bonds proposed to be sold are for school purposes, a statement that upon default in the payment of principal of and/or interest on the bonds, the State Comptroller is required to withhold under certain conditions prescribed by section 99-b of the State Finance Law, State aid and assistance to the city, city school district or school district which issued the bonds and to apply the amount thereof so withheld to the payment of such defaulted principal and/or interest.

(d) In the case of fire districts and other district corporations, a statement that the bonds are general obligations of the issuer payable from ad valorem taxes or assessments upon taxable real property in the fire district or district corporation which may be levied without limitation as to rate or amount. (If the bonds are payable in the first instance from revenues other than ad valorem taxes or assessments on real property, the notice shall so state.)

(e) A statement that the approving opinion of a designated attorney or firm of attorneys will be furnished without cost to the purchaser of the bonds, if such opinion is to be furnished.

(f) If an official statement is required by Part 27 of this Subchapter, a statement that an official statement will be furnished to any interested bidder on request.

2 CRR-NY 25.7 [Repealed] {#sec-2-crr-ny-25.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 25.7}

2 CRR-NY 25.8 to 25.9 to 25.9 [Repealed] {#sec-2-crr-ny-25.8-to-25.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 25.8 to 25.9}

Part 26 REQUIREMENTS FOR NOTICE OF SALE OF NOTES BY MUNICIPALITIES, SCHOOL DISTRICTS AND DISTRICT CORPORATIONS

2 CRR-NY 26.0 [Repealed] {#sec-2-crr-ny-26.0 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 26.0}

2 CRR-NY 26.1 Purpose of regulation {#sec-2-crr-ny-26.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 26.1}

The purpose of this regulation is to prescribe requirements for notices of sale of notes by municipalities, school districts and district corporations. It is adopted pursuant to section 60.00(e) of the Local Finance Law, which requires the Comptroller to adopt a rule in connection with the public sale of notes:

(a) prescribing a procedure for the circularization of notices for the public sale of notes; and

(b) prescribing such data and information as he may deem advisable to be contained in such notices.

2 CRR-NY 26.2 Circularization of notice {#sec-2-crr-ny-26.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 26.2}

Each notice of the sale of notes to be sold at public sale pursuant to the Local Finance Law shall be circularized by mailing a copy of the notice to the following:

(a) State Comptroller, 110 State Street, Albany, NY 12236-0001;

(b) at least two banks or trust companies having a place of business in the county or counties in which the issuer is located or, if only one bank is located in such county or counties, to such bank and to at least two banks or trust companies having a place of business in an adjoining county; and

(c) at least 10 bond dealers designated by the finance board of the issuer. The finance board may authorize the chief fiscal officer to make such designations.

2 CRR-NY 26.3 Time of circularization {#sec-2-crr-ny-26.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 26.3}

The notice of sale shall be mailed pursuant to section 26.2 of this Part not less than 8 nor more than 30 days before the date of the sale.

2 CRR-NY 26.4 Information required {#sec-2-crr-ny-26.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 26.4}

Each such notice of sale shall contain:

(a) a statement of the place where and the time when the note or notes will be sold and the conditions of sale; a description of the notes showing the amount, purpose, date, denomination and maturity; whether interest will be paid annually or semiannually; whether the notes will be issued in registered or bearer form; whether the notes may be converted into bearer or registered form, as the case may be; whether the notes are redeemable prior to maturity; the medium of payment; the place or places of payment or the terms and conditions under which such place or places will be designated; the place and the proposed date for delivery of the notes;

(b) in the case of counties, cities, towns, villages and school districts, a statement that the notes are general obligations of the issuer; that there is no limitation, either as to rate or amount, upon ad valorem taxes upon taxable real property in such municipality or district which may be required to pay the notes and the interest thereon; and that the New York State Constitution requires the issuer to pledge its faith and credit for the payment of the principal of the notes and the interest thereon;

(c) in the case of fire districts and other district corporations, a statement that the notes are general obligations of the issuer payable from ad valorem taxes or assessments upon taxable real property in the fire district or district corporation which may be levied without limitation as to rate or amount. (If the notes are payable in the first instance from revenues other than ad valorem taxes or assessments on real property, the notice shall so state.)

(d) a statement that the approving opinion of a designated attorney or firm of attorneys will be furnished without cost to the purchaser of the notes, if such opinion is to be furnished; and

(e) if an official statement is required by Part 27 of this Subchapter, a statement that an official statement will be furnished to any interested bidder upon request.

Part 27 REQUIREMENTS FOR THE PREPARATION AND FILING OF OFFICIAL STATEMENTS

2 CRR-NY 27.1 Statement of purpose {#sec-2-crr-ny-27.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.1}

The purpose of this Part is to establish uniform State standards for the essential content of official statements issued by municipalities, school districts and district corporations in connection with the public sale of obligations. By providing standards for the presentation of information in official statements, the regulations will assist investors, provide guidance of such municipalities, school districts and district corporations, and facilitate the creation in the State Comptroller's office of a central repository of comparable information for statistical and analytical purposes. These standards of disclosure will also enhance government accountability through increased availability of information to the public about the financial condition of their government. This Part is not intended to supersede other applicable disclosure requirements, nor to excuse an issuer from the requirement that all material information be disclosed. Issuers should in preparing an official statement consider any principles of Federal or State law that may be applicable. The information required by this Part is not required to be presented in any specific form or order in official statements and no reference need be made to inapplicable items.

2 CRR-NY 27.2 Requirement of an official statement {#sec-2-crr-ny-27.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.2}

(a) An official statement shall be required as provided in this Part for each public sale, under section 57.00 or 60.00 of the Local Finance Law, of obligations in excess of a principal amount of $500,000, by a municipality, school district or district corporation.

(b) The State Comptroller may determine upon application, with respect to a particular sale of obligations, that compliance in whole or in part with the requirements of this Part is not necessary or appropriate in the public interest.

(c) Failure to comply with any requirement of this Part or of section 25.6(f) or 26.4(e) of this Subchapter shall not affect the validity of any obligations, shall not create any rights in any person, and shall not serve as the basis for any claim, action or proceeding by any person.

(d) If a preliminary official statement is issued, it shall be subject to the requirements of this Part relating to the content of an official statement and the filing of a preliminary official statement.

2 CRR-NY 27.3 Notice of sale {#sec-2-crr-ny-27.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.3}

Each notice of sale of obligations shall contain, in addition to any information otherwise required by the Local Finance Law or the regulations of the State Comptroller, a statement required by section 25.6(f) or 26.4(e) of this Subchapter, whichever is applicable.

2 CRR-NY 27.4 Time of filing {#sec-2-crr-ny-27.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.4}

(a) A copy of the official statement and any amendments thereto, if a preliminary official statement is not issued, shall be filed in the office of the clerk of the issuer, or with the secretary of the issuer if there is no clerk, prior to the date of receipt of bids for the issue of obligations to which such official statement relates, and shall be made available by the issuer to any interested person. A copy of such official statement and any amendments thereto shall be filed in the office of the State Comptroller within 10 days after the delivery of the obligations to the purchaser.

(b) If a preliminary official statement is issued, a copy thereof and any amendments thereto shall be filed in the office of the clerk of the issuer, or with the secretary of the issuer if there is no clerk, prior to the date of receipt of bids for the issue of obligations to which such preliminary official statement relates and shall be made available by the issuer to any interested person. A copy of the official statement and any amendments thereto shall be filed and made available in like manner on or before the delivery of the obligations to the purchaser. A copy of the official statement and any amendments thereto shall be filed in the office of the State Comptroller within 10 days after the date of such delivery.

2 CRR-NY 27.5 Content of official statement {#sec-2-crr-ny-27.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.5}

The official statement shall contain a cover page, a table of contents, where appropriate a copy of the notice of sale, any appendices which may be included therein and at least the following categories of information:

(a) description of the issue;

(b) description of the issuer;

(c) financial information;

(d) description of debt structure; and

(e) legal matters.

2 CRR-NY 27.6 Cover page {#sec-2-crr-ny-27.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.6}

The cover page shall contain at least the following information: the date of the official statement; the total principal amount of the obligations; the name of the issuer; the type of obligations being offered (e.g.,serial bonds, tax anticipation notes, etc.); the date of issue; the maturity date or dates, including a statement as to whether the obligations are redeemable prior to maturity; interest payment dates; the place or places of payment; the denominations of the obligations if known; a statement as to the tax status of interest on the obligations; and the place and proposed date for delivery of the obligations.

2 CRR-NY 27.7 Description of issue {#sec-2-crr-ny-27.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.7}

The parts of the official statement describing the issue shall contain at least the following information:

(a) an amplification of items contained on the cover page where appropriate;

(b) a description of the legal authority for the issuance of the obligations;

(c) the specific objects or purposes, or classes of objects or purposes, as the case may be, for which the obligations have been authorized, and the amount being issued for each;

(d) a description of the nature and sources of payment for the obligations; and

(e) a description of redemption features of the obligations.

2 CRR-NY 27.8 Description of the issuer {#sec-2-crr-ny-27.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.8}

The parts of the official statement describing the issuer shall contain at least the following information:

(a) a statement containing a brief history of the issuer, where material;

(b) a statement briefly describing the current form of government of the issuer;

(c) a brief description of the principal governmental services and, where material, the facilities provided by the issuer, indicating if they are partially or wholly self-supporting;

(d) a brief description of taxes and other major revenues of the issuer, including any revenues in lieu of taxes;

(e) material information about the issuer's employees, including the status of employee relations and a description of the retirement systems applicable to such employees; and

(f) historical and available current data on the economy and population of the issuer, including information about the major types of business in the immediate geographical area of the issuer, identifying any employer who employs more than 10 percent of the persons employed in such area.

2 CRR-NY 27.9 Financial information {#sec-2-crr-ny-27.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.9}

The parts of the official statement containing financial information shall present material facts relating to the financial position and the results of the operations of the issuer, and shall contain at least the following information:

(a) a brief description of the types of funds and account groups of the issuer, and a summary of budgetary processes or financial plan processes in the case of a municipality subject to section 8 of the New York State Financial Emergency Act, significant accounting policies, and the procedures for the levy or imposition and collection of taxes and other major revenues;

(b) a statement of the issuer's real property taxing power, the issuer's tax limitation, if any, and the total tax levy;

(c) in tabular form, the assessed valuation of taxable real property, State equalization rate, full valuation, and real property tax rates for the last five fiscal years;

(d) in tabular form, the total tax levy, the amount of delinquent taxes as of the end of each of the issuer's last five fiscal years, and the tax delinquency rate for each of such fiscal years;

(e) except as otherwise provided in this subdivision, in tabular form, by major items of revenue and appropriation:

(1) for the immediately preceding fiscal year:

(i) the operating budget:

(a) as adopted;

(b) as modified; and

(ii) to the extent available, actual revenues and expenditures;

(2) for the current fiscal year, the operating budget:

(i) as adopted; and

(ii) as modified;

(3) for the next fiscal year the operating budget as adopted, if any; and

(4) in the case of a municipality subject to section 8 of the New York State Financial Emergency Act, in tabular form, by major items of revenue and expenditure:

(i) for the immediately preceding fiscal year:

(a) the financial plan as in effect at the beginning of such fiscal year; and

(b) to the extent available, actual revenues and expenditures;

(ii) for the current fiscal year, the financial plan:

(a) as in effect at the beginning of such current fiscal year; and

(b) as forecast at the time of issuance of the official statement; and

(iii) for the next fiscal year the financial plan as forecast, if any;

(f) except as otherwise provided in this subdivision, a brief discussion of any material differences, by major items of revenue and appropriation, between:

(1) the operating budget:

(i) as adopted; and

(ii) as modified;

(2) actual results for the current fiscal year through the latest date such results are available; and

(3) in the case of a municipality subject to section 8 of the New York State Financial Emergency Act, a brief discussion of any material differences by major items of revenue and expenditure, between:

(i) the financial plan as in effect at the beginning of the current fiscal year; and

(ii) actual results for the current fiscal year through the latest date such results are available;

(g) in tabular form, the following statements presented separately, including any such statements that have been independently audited with the auditors' reports, and indicating any such statements which are in the process of being audited:

(1) a balance sheet by type of fund for the prior two fiscal years; and

(2) a summary of operation of the funds by type for each of the issuer's last two fiscal years as to revenues and expenditures and, to the extent available, for the three years prior thereto. Any variation in the basis for reporting between fiscal years shall be noted. If any such statements have not been independently audited, a copy of the most recent annual report of the issuer made pursuant to section 30 of the General Municipal Law shall be made available upon request;

(h) if appropriate, a brief narrative description of any circumstances having a material bearing on any such statements; and

(i) with respect to interim borrowing for operational purposes, such as revenue anticipation notes or tax anticipation notes, a statement of anticipated cash flow for the current fiscal year, the form of which shall be presented on not less than a monthly basis, and, if possible, for the period the notes are to be outstanding.

2 CRR-NY 27.10 Description of debt structure {#sec-2-crr-ny-27.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.10}

The parts of the official statement describing the debt structure of the issuer shall contain at least the following information:

(a) a discussion of the applicable constitutional and statutory requirements concerning the limitations on indebtedness;

(b) in the case of bonds, bond anticipation notes and capital notes, a summary of the issuer's debt contracting power showing the calculation of the issuer's debt limitation, gross indebtedness, net indebtedness and debt contracting margin;

(c) in the case of bonds and bond anticipation notes, a tabular schedule of:

(1) the annual long-term debt service for each of the next five fiscal years with required principal and interest payments on all outstanding indebtedness for each such fiscal year; and

(2) if material, the annual long-term debt service for each subsequent fiscal year with required principal and interest payments on all outstanding indebtedness for each such fiscal year;

(d) a table presenting:

(1) the indebtedness of the issuer by type of obligation;

(2) the indebtedness of underlying or overlapping governmental entities, excpet the State, which have power to tax real property within the boundaries of the issuer, by entity, with both the estimated amount of such indebtedness and the percent applicable within the boundaries of the issuer; and

(3) the indebtedness of underlying or overlapping governmental entities by entity, including without limitation, governmental authorities and public benefit corporations, to the extent that the issuer has financial commitments with respect to such indebtedness; and

(e) an estimate of all borrowings expected to be made by the issuer during the remainder of the current fiscal year, and a statement of proposed debt issuances included in the issuer's currently adopted capital program or forecast in its financial plan.

2 CRR-NY 27.11 Legal matters {#sec-2-crr-ny-27.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.11}

The parts of the official statement describing legal matters shall contain at least the following information:

(a) a description of any pending or threatened legal proceedings which may affect the validity of the obligations or have a material adverse effect upon the ability of the issuer to pay the obligations, or on the market therefor;

(b) any proposed legal opinion approving the obligations, or a summary thereof; and

(c) a description of the tax status of the obligations and the interest thereon.

2 CRR-NY 27.12 Other material information {#sec-2-crr-ny-27.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.12}

All other material information not specifically required by this Part should be included in the official statement.

2 CRR-NY 27.13 Signing of official statement {#sec-2-crr-ny-27.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 27.13}

The official statement shall be signed on or prior to the date of delivery of the obligations on behalf of the issuer as to all financial statements, by the chief fiscal officer, and such other person or persons, if any, as may be designated by the finance board of such issuer; as to other portions of the official statement by such person or persons, among whom may be the chief fiscal officer, as may be designated by the finance board of such issuer.

Part 28 DEBT STATEMENT FORM TO BE USED IN CONNECTION WITH PUBLIC SALES OF BONDS BY CITIES HAVING MORE THAN 125,000 INHABITANTS

2 CRR-NY 28.1 Form of statement {#sec-2-crr-ny-28.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 28.1}

The debt statement form to be used in connection with public sales of bonds by cities having 125,000 or more inhabitants according to the 1960 Federal census under the provisions of section 109.00 of the Local Finance Law and title 10 of article 2 of the Local Finance Law, shall be in the form shown at Appendix 5 attached hereto and hereby made a part hereof as fully as if herein set forth.

2 CRR-NY 28.2 Temporary provision {#sec-2-crr-ny-28.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 28.2}

Notwithstanding section 28.1 of this Part, until August 1, 1964, any city having more than 125,000 inhabitants may, in the alternative, use the debt statement form prescribed by the regulation of the State Comptroller of June 13, 1961, with such appropriate changes as may be required to comply with provisions of the Local Finance Law.

Part 29 ANNUAL AND SUPPLEMENTAL DEBT STATEMENTS FOR HOUSING AND URBAN RENEWAL PURPOSES TO BE USED BY CITIES, TOWNS AND VILLAGES

2 CRR-NY 29.1 Form of statement {#sec-2-crr-ny-29.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 29.1}

Annual and supplemental debt statements of housing and urban renewal indebtedness to be used by cities, towns and villages under the provisions of title 11 of article 2 of the Local Finance Law shall be in the form shown at Appendix 6 attached hereto and hereby made a part hereof as fully as if herein set forth.

2 CRR-NY 29.2 Temporary provision {#sec-2-crr-ny-29.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 29.2}

Notwithstanding section 29.1 of this Part, until August 1, 1961, any city, town or village may, in the alternative, use the debt statement form prescribed by the regulation of the State Comptroller promulgated on September 16, 1960, repealed by this order (former Appendix 1, pp. 98.1-98.6 AC 11-21-60) with such appropriate changes as may be required to comply with provisions of the Local Finance Law.

Part 30 CERTIFICATE OF THE CHIEF FISCAL OFFICER RELATING TO THE ISSUANCE OF URBAN RENEWAL NOTES

2 CRR-NY 30.1 Form of certificate {#sec-2-crr-ny-30.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 30.1}

The certificate of the chief fiscal officer of a municipality pursuant to section 25.10 of the Local Finance Law relating to the issuance of urban renewal notes shall be in the form shown at Appendix 7 attached hereto and hereby made a part hereof as fully as if herein set forth.

2 CRR-NY 30.2 [Repealed] {#sec-2-crr-ny-30.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 30.2}

Part 31 DEBT STATEMENT FORM TO BE USED IN CONNECTION WITH PUBLIC SALES OF BONDS BY COUNTIES, TOWNS, VILLAGES AND CITIES HAVING LESS THAN 125,000 INHABITANTS

2 CRR-NY 31.1 Form of statement {#sec-2-crr-ny-31.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 31.1}

The debt statement form to be used in connection with public sales of bonds by counties, towns, villages and cities having less than 125,000 inhabitants according to the 1960 Federal census under the provisions of section 109.00 of the Local Finance Law and title 10 of article 2 of the Local Finance Law, shall be in the form shown at Appendix 8, attached hereto, and hereby made a part hereof as fully as if herein set forth.

2 CRR-NY 31.2 Temporary provision {#sec-2-crr-ny-31.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 31.2}

Notwithstanding section 31.1 of this Part, until August 1, 1964, any county, town, village or city having less than 125,000 inhabitants may, in the alternative, use the debt statement form prescribed by the regulation of the State Comptroller of June 13, 1961, as amended August 4, 1961, with such appropriate changes as may be required to comply with provisions of the Local Finance Law.

2 CRR-NY 31.3 [Repealed] {#sec-2-crr-ny-31.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 31.3}

Part 32 REQUIREMENTS FOR NOTICE OF TRANSFER AND SALE OF DELINQUENT REAL ESTATE TAX RECEIVABLES

2 CRR-NY 32.1 Purpose of regulation {#sec-2-crr-ny-32.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 32.1}

The purpose of this regulation is to provide for the publication and alternative means of circulation of notices of the public sale of delinquent real estate tax receivables by cities with a population of one million or more. This regulation is adopted pursuant to section 99-s of the General Municipal Law, which requires the Comptroller, by rules and regulations, to:

(a) designate a financial newspaper published and circulated in such city for the publication of such notices; and

(b) prescribe an alternative manner for the circulation of such notices.

2 CRR-NY 32.2 Publication of notice {#sec-2-crr-ny-32.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 32.2}

Each notice of the public sale of delinquent real estate tax receivables shall be published at least once in either The Bond Buyer, 1 State Street Plaza, New York, NY 10004; or Redemption Digest and Securities Industry Daily, 99 Hudson Street, 8th Fl., New York, NY 10013; except as otherwise provided in section 32.3 of this Part. Such notice shall contain the information required to be included therein pursuant to section 99-s of the General Municipal Law.

2 CRR-NY 32.3 Alternative method of circulation {#sec-2-crr-ny-32.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 32.3}

In lieu of the requirement for publication prescribed by section 32.2 of this Part, such notice of the public sale of delinquent real estate tax receivables may be circulated in the following manner:

(a) by at least one publication of such notice in any newspaper or newspapers which are designated for that purpose by the finance board of such city; and

(b) by causing a copy of such notice to be delivered to the following:

(1) Office of the State Comptroller, 110 State Street, Albany, NY 12236-0001, Attention: Deputy Comptroller, Division of Investments and Cash Management;

(2) one or more trade publications of national recognition serving the municipal bond industry or asset securitization industry published on each business day in the State of New York which is generally available to participants in that respective industry;

(3) one or more trade wire services of national recognition serving the municipal bond industry or asset securitization industry which makes available information regarding activity and sales of municipal bonds or securitized assets, as applicable, and which is generally available to participants in that respective industry;

(4) at least two banks or trust companies having a place of business in the city; and

(5) at least 10 bond dealers and underwriters.

2 CRR-NY 32.4 Time of publication and circulation {#sec-2-crr-ny-32.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 32.4}

The publication of notice pursuant to section 32.2 or 32.3(a), as applicable, of this Part shall be done in accordance with the time requirements set forth in section 99-s of the General Municipal Law. The circulation of notice pursuant to section 32.3(b) of this Part, shall be deemed to have been made if such notice is delivered within the period of time set forth in section 99-s of the General Municipal Law for the publication of notice.

Part 33 DEBT STATEMENT FORM TO BE USED IN CONNECTION WITH PUBLIC SALES OF BONDS BY SCHOOL DISTRICTS

2 CRR-NY 33.1 Form of statement {#sec-2-crr-ny-33.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 33.1}

The debt statement form to be used in connection with public sales of bonds by school districts under the provisions of section 109.00 of the Local Finance Law and title 10 of article 2 of the Local Finance Law shall be in the form shown at Exhibit attached hereto* and hereby made a part hereof, as fully as if herein set forth.

2 CRR-NY 33.2 Temporary provision {#sec-2-crr-ny-33.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 33.2}

The debt statement form*prescribed in such order of July 19, 1950, hereby repealed may be used during the months of May and June, 1951, as provided by section 49 of chapter 831 of the Laws of 1951.

2 CRR-NY 33.3 Effective date {#sec-2-crr-ny-33.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 33.3}

This Part shall take effect immediately and shall be filed in the Department of Audit and Control and a duplicate original copy hereof shall be filed in the Department of State.

Part 34 DEBT STATEMENT FORMS TO BE USED IN CONNECTION WITH PUBLIC SALES OF BONDS BY SCHOOL DISTRICTS IN CITIES UNDER 125,000 INHABITANTS

2 CRR-NY 34.1 Form of statement {#sec-2-crr-ny-34.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 34.1}

The debt statement form to be used in connection with public sales of bonds by school districts coterminous with or partly within or wholly within, cities having less than 125,000 inhabitants according to the latest Federal census, under the provisions of section 109.00 and title 10 of article 2 of the Local Finance Law, shall be in the form shown at Exhibit A attached hereto* and hereby made a part hereof as fully as if herein set forth.

2 CRR-NY 34.2 Temporary provision {#sec-2-crr-ny-34.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 34.2}

Notwithstanding section 34.1 of this Part, until September 1, 1954, such school districts may, in the alternative, use the debt statement form prescribed by Part 31 of the Department of Audit and Control rules and regulations entitled “Debt Statement Form To Be Used in Connection With Public Sales of Bonds by Counties, Towns, Villages and Cities Under 125,000 Inhabitants”, with such appropriate changes as may be required to comply with provisions of the Local Finance Law.

2 CRR-NY 34.3 Effective date {#sec-2-crr-ny-34.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 34.3}

This Part shall take effect immediately and shall be filed in the Department of Audit and Control and a duplicate original copy hereof shall be filed in the office of the Department of State.

Part 35 DEBT STATEMENT FORM TO BE USED IN CONNECTION WITH PUBLIC SALES OF BONDS BY FIRE DISTRICTS

2 CRR-NY 35.1 Form of statement {#sec-2-crr-ny-35.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 35.1}

The debt statement form to be used in connection with public sales of bonds by fire districts under the provisions of section 109.00 and title 10 of article 2 of the Local Finance Law, shall be in the form shown at Exhibit A attached hereto* and hereby made a part hereof as fully as if herein set forth.

2 CRR-NY 35.2 Temporary provision {#sec-2-crr-ny-35.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 35.2}

Notwithstanding section 35.1 of this Part, until October 1, 1955, any fire district may, in the alternative, use the debt statement form prescribed by said order of July 1, 1947, hereinabove repealed, with such appropriate changes as may be required to comply with provisions of the Local Finance Law.

2 CRR-NY 35.3 Effective date {#sec-2-crr-ny-35.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 35.3}

This Part shall take effect immediately and shall be filed in the Department of Audit and Control and a duplicate original copy hereof shall be filed in the Office of the Department of State.

Part 36 DEBT STATEMENT FORM TO BE USED IN CONNECTION WITH PUBLIC SALES OF BONDS BY SCHOOL DISTRICTS OUTSIDE OF CITIES

2 CRR-NY 36.1 Form of statement {#sec-2-crr-ny-36.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 36.1}

The debt statement form to be used in connection with public sales of bonds by school districts outside of cities shall be in the form shown at Appendix 9 attached hereto and made a part hereof as fully as if herein set forth.

2 CRR-NY 36.2 Effective date {#sec-2-crr-ny-36.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 36.2}

This Part shall take effect immediately and shall be filed in the Office of the Department of State.

Part 37 NEGOTIATED SALES OF VARIABLE RATE OBLIGATIONS AND BONDS SOLD AT A DISCOUNT

2 CRR-NY 37.1 Background {#sec-2-crr-ny-37.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 37.1}

(a) Chapter 413 of the Laws of 1991 added a new section 54.90 to the Local Finance Law. This statute authorizes counties, cities, towns and villages (hereinafter “municipalities”) to issue, until June 30, 1994, bonds or notes that bear variable rates of interest in accordance with the requirements of that section. Among other things, section 54.90 requires, in certain instances, that the issuer enter into one or more letter of credit or liquidity facility agreements. It also permits the issuer to enter into an agreement for the remarketing or repurchasing of its bonds or notes. Section 54.90 of the Local Finance Law also permits the issuer of variable rate obligations, subject to rules promulgated by the State Comptroller, to:

(1) arrange for the underwriting of such obligations at private sale through a negotiated agreement with the compensation for such underwriting to be provided either by the payment of a negotiated fee to the underwriter or by the sale of such obligations to the underwriter at a discount; or

(2) arrange for the private sale of such obligations through negotiated agreement with the compensation for such sale to be provided by negotiated fee.

(b) Chapter 413 also amended paragraph e of section 57.00 of the Local Finance Law to provide that, for the three-year period commencing July 1, 1991, a municipality, school district or district corporation may sell its bonds at public sale at a price of less than the par value of the issue of bonds provided that:

(1) such bonds are sold at a price not less than seventy-five percentum of such par value less the cost of issuance of such issue of bonds; and

(2) that the average life of the issue of such bonds shall not be greater as a result of such sale at a discount than it would be if the issue were sold at its par value in an amount equal to the amount actually received by the municipality, school district or district corporation.

(c) Chapter 413 also added a new paragraph f to section 57.00. This new paragraph provides that, to facilitate the marketing of any bonds issued pursuant to paragraph e of section 57.00, the municipality, school district or district corporation may, subject to rules promulgated by the State Comptroller:

(1) arrange for the underwriting of such bonds at private sale through a negotiated agreement with the compensation for such underwriting to be provided either by the payment of a negotiated fee to the underwriter or by the sale of bonds to the underwriter at a discount; or

(2) arrange for the private sale of such bonds through negotiated agreement with the compensation for such sale to be provided by negotiated fee.

(d) Section 57.10 of the Local Finance Law, also enacted by Chapter 413 of the Laws of 1991, requires the State Comptroller to promulgate rules governing the negotiated sale of bonds or notes authorized by sections 54.90 and 57.00 and provides that no municipality, school district or district corporation shall sell bonds or notes on a negotiated basis without prior approval of the State Comptroller except as provided in such rules. These rules are expressly required to set forth the circumstances under which the State Comptroller's prior approval will not be required.

(e) The State Comptroller believes that competitive sale of municipal bonds and notes in a stable market with a normal yield curve generally produces the lowest interest cost to issuers and provides an equal opportunity for potential purchasers to obtain an award of obligations. For these reasons, the State Comptroller has consistently favored the competitive sale of obligations unless an issuer would have difficulty utilizing competitive sale because of one or more of the following factors:

(1) unstable or volatile market conditions;

(2) conditions of fiscal stress or negative credit factors being experienced by the issuer;

(3) the large dollar amount of the proposed issue; or

(4) the complexity of the proposed issue.

(f) The complexity of variable rate debt transactions may warrant the use of negotiated sales. The State Comptroller believes that the authorization and issuance of all debt obligations is, in the first instance, the responsibility of the municipal issuer and its local officials. Therefore, these regulations permit a municipality to make its own determination whether to sell variable rate obligations at negotiated sale. To help ensure that the negotiated sale of variable rate debt is in the best interests of the issuer and that the procurement of the professional services necessary to conduct the sale is accomplished in an open and competitive manner, any municipality choosing to sell its variable rate obligations at negotiated sale shall be required to comply with, and make the determinations required by, the policies and procedures contained in section 37.5 of this Part.

(g) The State Comptroller does not believe that there is anything inherent in the sale of bonds at a discount that requires the use of negotiated sales. As noted, however, the State Comptroller does recognize that unstable or volatile market conditions, conditions of fiscal stress or negative credit factors being experienced by an issuer, the large dollar amount of the proposed issue, or the complexity of an issue may render the sale of bonds at competitive sale impractical or impossible. Therefore, if a municipality, school district or district corporation believes that one or more of these factors will make it difficult to sell a proposed issue at competitive public sale, it may seek approval of the State Comptroller to sell such bonds on a negotiated basis pursuant to sections 57.00(f) and 57.10 of the Local Finance Law. Where such a negotiated sale of bonds has been approved by the State Comptroller, the municipality, school district or district corporation shall be required to sell those bonds in accordance with the policies and procedures contained in section 37.5 of this Part.

2 CRR-NY 37.2 Definitions {#sec-2-crr-ny-37.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 37.2}

For purposes of this Part:

(a) Competitive sale shall mean the sale of bonds or notes in accordance with the procedures set forth in sections 58.00 and 59.00 of the Local Finance Law.

(b) Negotiated sale shall mean all sales other than competitive sale.

(c) Variable rate obligations shall mean bonds and notes issued pursuant to section 54.90 of the Local Finance Law.

(d) Financially responsible party, municipality, finance board, school district and district corporation shall have the meanings ascribed to them by the Local Finance Law.

(e) Discount bonds shall mean an issue of bonds sold for a price which is less than the par value thereof in accordance with the provisions of paragraphs e and f of section 57.00 of the Local Finance Law.

2 CRR-NY 37.3 Negotiated sale of variable rate obligations {#sec-2-crr-ny-37.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 37.3}

A municipality may sell variable rate obligations at negotiated sale in accordance with either subdivision (a) or (b) of this section.

(a) A municipality may sell variable rate obligations at negotiated sale without the prior approval of the State Comptroller if it complies with, and makes the determinations required by, the policies and procedures contained in section 37.5 of this Part.

(b) A municipality may sell variable rate obligations at negotiated sale pursuant to any provision of the Local Finance Law, other than sections 54.90 and 57.10, that permits the municipality to sell its obligations at negotiated sale. In the event a municipality sells variable rate obligations by means of negotiated sale pursuant to such other provision, it shall in all respects comply with the requirements of that provision but need not comply with the policies and procedures contained in section 37.5 of this Part.

2 CRR-NY 37.4 Negotiated sale of discount bonds {#sec-2-crr-ny-37.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 37.4}

A municipality, school district or district corporation may sell discount bonds at negotiated sale in accordance with either subdivision (a) or (b) of this section.

(a) A municipality, school district or district corporation may sell discount bonds at negotiated sale with the prior written approval of the State Comptroller. All applications for such approval shall be submitted to the State Comptroller in writing at least 14 days before the date of the proposed sale. The application shall state that the municipality, school district or district corporation has determined that:

(1) the competitive sale of the issue of bonds described in the application is not in the best interests of the issuer because of one or more of the following factors:

(i) unstable or volatile market conditions;

(ii) conditions of fiscal stress or negative credit factors being experienced by the issuer;

(iii) the large dollar amount of the proposed issue; or

(iv) the complexity of the issue; and

(2) a negotiated sale is expected to result in lower borrowing costs.

Such application shall state in detail the basis for the foregoing determination by the municipality, school district or district corporation. If the State Comptroller finds that there is a reasonable basis for the determination made by the municipality, school district or district corporation in its application, he may approve the application and such municipality, school district or district corporation shall be able to sell the discount bonds described in its application at negotiated sale within 30 days after such approval is granted unless the State Comptroller grants an extension in writing. Prior to conducting such sale, the municipality, school district or district corporation shall comply with, and make the determinations required by, the policies and procedures contained in section 37.5 of this Part. If the application is disapproved, the municipality, school district or district corporation shall only sell the issue of bonds at competitive sale or pursuant to subdivision (b) of this section.

(b) A municipality, school district or district corporation may sell discount bonds at negotiated sale pursuant to any provision of the Local Finance Law, other than sections 57.00 and 57.10, that permits the municipality, school district or district corporation to sell bonds at negotiated sale. In the event a municipality, school district or district corporation sells bonds at negotiated sale pursuant to such other provision, it shall in all respects comply with the requirements of that provision but need not comply with the policies and procedures contained in section 37.5 of this Part.

2 CRR-NY 37.5 Policies and procedures {#sec-2-crr-ny-37.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 37.5}

Any municipality, school district or district corporation, as a condition to authorizing the issuance and sale of obligations at negotiated sale in accordance with subdivision (a) of either section 37.3 or 37.4 of this Part, shall comply with the following provisions.

(a) In the case of variable rate obligations, the finance board, in its resolution authorizing such obligations, or the chief fiscal officer, in the certificate required by section 30.00(b) of the Local Finance Law, shall include a statement explaining in reasonable detail:

(1) why the issuance of variable, rather than fixed rate obligations is reasonably expected to reduce the cost of borrowing to the municipality; and

(2) why a competitive sale of the proposed variable rate obligations is not feasible or in the best interests of the municipality.

In making these determinations, the municipality or chief fiscal officer shall consider the size of the issue, relative interest yield curves for long term and short term obligations, complexity of the proposed issue, relative costs of issuance of fixed rate versus variable rate obligations and such other factors as the municipality deems relevant.

(b) The municipality, school district or district corporation shall select underwriters, remarketing agents or the providers of letters of credit or liquidity facilities at least once every two years in a manner which affords a reasonable opportunity for interested, qualified candidates to submit a proposal. The method used to solicit proposals from candidates shall be structured to provide notice to qualified parties interested in participating in the selection process. Any bond counsel or financial adviser retained by a municipality, school district or district corporation after January 1, 1992 shall be selected in accordance with the policies and procedures required to be adopted pursuant to section 104-b of the General Municipal Law.

(c) The municipality, school district or district corporation shall, to further the objective of achieving the lowest overall cost to the issuer, evaluate and select underwriters and remarketing agents using criteria which shall include, but not be limited to:

(1) all anticipated costs to the issuer;

(2) the ability of the candidates to market the obligations at competitive interest rates;

(3) the experience and ability of the candidates under consideration to structure the sale of and market the obligations proposed to be issued;

(4) the experience and ability of the individuals whom the candidates plan to involve directly in a sale; and

(5) the soundness of the candidates' overall financing and marketing plans, including any proposed use, if applicable, of letters of credit or liquidity facility agreements.

(d) In selecting the provider of letter of credit or liquidity facilities, criteria shall include, but not be limited to:

(1) those factors set forth in section 168.00 of the Local Finance Law, including whether the provider under consideration is a financially responsible party;

(2) rating and financial strength of the provider;

(3) proposed terms and conditions for issuing the letter of credit or liquidity facility;

(4) proposed terms of any reimbursement agreement; and

(5) price.

(e) The municipality, school district or district corporation shall prepare and maintain written documentation of compliance with subdivisions (b), (c) and (d) of this section, including copies of the notice sent to qualified candidates, the names and addresses of the candidates to whom the notice was sent, copies of any publication of the notice, copies of all responses received from candidates and written justification of the selections made. Such documentation shall be filed with the finance board before the date of sale of the obligations.

2 CRR-NY 37.6 Report to the Comptroller {#sec-2-crr-ny-37.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 37.6}

The municipality, school district or district corporation shall include in its annual report filed with the State Comptroller in accordance with section 31 of the General Municipal Law, the amount and date of all obligations sold on a negotiated basis pursuant to this Part as well as any such other information the State Comptroller shall require.

Part 38 SINKING FUNDS FOR BONDS OF MUNICIPALITIES AND SCHOOL DISTRICTS

2 CRR-NY 38.1 Purpose of regulations {#sec-2-crr-ny-38.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.1}

Section 22.10 of the Local Finance Law provides that municipalities and school districts may issue sinking fund bonds and the State Comptroller shall maintain the sinking funds with respect to such bonds. The purpose of this Part is to establish procedures with respect to the establishment and maintenance of such sinking funds, contributions to be made to such sinking funds, the investment of amounts on deposit in such sinking funds and distributions to be made from such sinking funds.

2 CRR-NY 38.2 Notice of sale of sinking fund bonds {#sec-2-crr-ny-38.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.2}

A municipality or school district shall notify the State Comptroller of its intention to issue sinking fund bonds and of the scheduled date of issuance and delivery of such bonds as soon as practicable but in no event later than the eighth day preceding the intended date of issuance. As soon as is practicable after such notification, but no less than 30 days before the first deposit is required to be made (unless such first deposit is required to be made less than 30 days after the date of issuance), the State Comptroller shall establish a sinking fund on behalf of such municipality or school district and an account for the amortization and redemption of such issue within such sinking fund. The State Comptroller shall establish an account for the amortization and redemption of each subsequent issue of sinking fund bonds within the sinking fund established on behalf of a municipality or school district no later than 30 days before the date of the first required payment into the sinking fund for that issue.

2 CRR-NY 38.3 Schedule of deposits to sinking fund {#sec-2-crr-ny-38.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.3}

(a) On the date of issuance of sinking fund bonds, the issuer thereof shall deliver to the State Comptroller a schedule setting forth the amount of bonds which would have been payable each year had the entire indebtedness been financed entirely by the issuance of serial bonds. If an issue of sinking fund bonds is combined with an issue of serial bonds, then the schedule shall set forth:

(1) the amount of bonds scheduled to mature in each year;

(2) the amount of bonds which would have been payable in each year had the indebtedness been issued entirely as serial bonds; and

(3) the difference in each year between the amounts set forth in paragraphs (1) and (2) of this subdivision.

Such schedule shall state the assumptions used to calculate such amounts and shall contain a certification that such assumptions are reasonable. The issuer shall also deliver to the State Comptroller on such date a schedule setting forth the amount required to be on deposit in the sinking fund account in each year from the date of issuance of the bonds until their maturity, which amount shall be calculated as described in paragraph c of section 22.10 of the Local Finance Law.

(b)

(1) If the issuer requests such information at least 45 days prior to the date the annual contribution to the sinking fund account is required to be made, the State Comptroller shall inform the issuer not less than 25 days prior to such date of the amount of cash and investments then held in the sinking fund account, setting forth for each investment: purchase date, purchase price, the accrued interest portion of the purchase price, face amount, maturity date, maturity amount, interest rate, interest payment dates, and if disposed of prior to the notification date, disposition date, disposition price, accrued interest portion of the disposition price and any other information necessary to the issuer to enable it to determine the value of the assets held in the sinking fund as of the date the annual contribution to the sinking fund account is to be made.

(2) Not less than 15 days nor more than 30 days prior to the date the annual contribution to the sinking fund account is to be made, the issuer shall deliver to the State Comptroller a certificate stating the amount expected to be on deposit in the sinking fund account on the date the contribution is to be made, the calculation of which amount shall take into account the provisions of section 38.9(a) of this Part and the amount, if any, expected to be deposited by the issuer in the sinking fund on such date. If, in the opinion of the State Comptroller, such calculations are erroneous or if, in the opinion of the State Comptroller, the actual amount on deposit in the sinking fund and the actual amount to be contributed thereto are not equal to the expected amounts, the State Comptroller shall promptly notify the issuer thereof.

(c) Contributions to sinking funds for sinking fund bonds which are not subject to mandatory redemption shall be scheduled to be made on such day or days as may be agreed upon by the State Comptroller and the issuer. Contributions to sinking funds for sinking fund bonds which are subject to mandatory redemption shall be scheduled to be made not less than 10 days prior to the date scheduled for such redemption.

2 CRR-NY 38.4 Redemption of sinking fund bonds {#sec-2-crr-ny-38.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.4}

The issuer shall notify the State Comptroller not less than 30 days prior to the date fixed for the redemption or maturity of sinking fund bonds of:

(a) the principal amount of sinking fund bonds to be redeemed;

(b) the amount to be transferred from the sinking fund account in order to pay such principal amount; and

(c) the name and account number of the entity to which such amounts shall be transferred. The State Comptroller shall effect such transfer (but only to the extent that funds are available therefor) not later than the day preceding the date fixed for redemption. Such transfer may be made on the dates specified in the agreement between the issuer and the State Comptroller or at other times agreed to by the State Comptroller.

2 CRR-NY 38.5 Excess in sinking fund accounts {#sec-2-crr-ny-38.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.5}

At the request of the issuer, the State Comptroller shall transfer any surplus exceeding $100 in a sinking fund account to the issuer or to another sinking fund account of the issuer. Such request by the issuer shall not be made more than once in any 12-month period. Such transfer shall occur on such day or days as may be agreed upon by the State Comptroller and the issuer. Thirty days prior to the date of transfer, the issuer shall deliver to the State Comptroller a certificate setting forth in reasonable detail the calculation of the amount of excess on deposit in the sinking fund account. Notwithstanding anything above to the contrary:

(a) In the event the State Comptroller is not reimbursed as provided in section 38.7 of this Part, the State Comptroller shall deduct the amount of the required reimbursement from any excess on deposit in the sinking fund account; provided, however, that in no event shall the State Comptroller use assets of the sinking fund account other than the excess therein for such reimbursement.

(b) In the event the State Comptroller, at the request or with the consent of the issuer, has invested amounts on deposit in the sinking fund account in investments which do not mature or cannot be redeemed or for which the State Comptroller is unable to find a purchaser (after using reasonable efforts) at a time and in an amount sufficient to pay such excess to the issuer when requested by the issuer, the State Comptroller shall pay to the issuer as much of the excess as practicable at such time and shall pay the balance at the earliest time that it becomes available. Upon defeasance, redemption or maturity of all of the sinking fund bonds payable from a sinking fund account, any excess remaining in the sinking fund account, regardless of size, shall be paid over to the issuer at the earliest date that such excess becomes available.

2 CRR-NY 38.6 Purchase of bonds {#sec-2-crr-ny-38.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.6}

The issuer may at any time instruct the State Comptroller to purchase sinking fund bonds with amounts on deposit in the sinking fund account established for the redemption of such bonds. The issuer shall specify the amount to be used to purchase such bonds and the maximum price payable, and shall agree to pay to the State Comptroller on or before the date of purchase of any costs or expenses associated with such purchase, including without limitation any brokerage fees or charges; provided, however, that, in the event such costs and expenses cannot be determined on or before such purchase date, they shall be paid within 15 days thereafter. The State Comptroller is obligated only to use his best efforts to purchase such bonds.

2 CRR-NY 38.7 Payment of fees and expenses {#sec-2-crr-ny-38.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.7}

The State Comptroller shall deliver an itemized bill for administrative expenses related to investing and managing accounts in the sinking funds incurred during the period from January 1st (or the date of issuance of the sinking fund bonds, if later) to December 31st of each year (or the date on which all sinking fund bonds of the issuer are retired, if earlier) to each issuer for which it maintains a sinking fund. Such bill shall be sent to each issuer on or before February 1st of each year and on the date which is 30 days after the date on which all sinking fund bonds of the issuer are retired. Fees and expenses of any consultants shall be payable only by issuers who have expressly consented to reimburse the State Comptroller for the use thereof. Any expense charged against more than one sinking fund account shall be divided among the sinking fund accounts to which it applies on a pro rata basis based on the average amount on deposit in each such sinking fund account during the preceding year. The issuer shall pay the amount due to the State Comptroller on or before March 15th of each year by the method of payment specified by the State Comptroller in the itemized bill. Prior to reimbursement by the issuers, such administrative expenses shall be paid by the State Comptroller from the State Purposes Fund.

2 CRR-NY 38.8 Rights and remedies of the State Comptroller {#sec-2-crr-ny-38.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.8}

(a) The State Comptroller undertakes to perform such duties and only such duties as are specifically set forth in section 22.10 of the Local Finance Law, this Part or any agreement with the issuer and no implied covenants or obligations shall be read into such section 22.10, this Part or into any agreement with the issuer.

(b) The State Comptroller may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the State Comptroller and conforming to the requirements of section 22.10 of the Local Finance Law, this Part and any agreement with the issuer; but in the case of any such certificates or opinions which are specifically required to be furnished to the State Comptroller pursuant to section 22.10(c) of the Local Finance Law, the State Comptroller shall examine the contents of the same to determine whether or not they conform to the requirements of section 22.10 of the Local Finance Law, this Part and any agreement with the issuer.

(c) The State Comptroller shall not be liable for any error of judgment made in good faith by him.

(d) The State Comptroller shall not be liable with respect to any action taken or omitted to be taken by him in good faith in accordance with the direction of the issuer.

(e) The State Comptroller may rely, and shall be protected in acting or refraining from acting in reliance, upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document believed by him to be genuine and to have been signed or presented by the proper party or parties.

(f) Any request or direction of the issuer shall be sufficiently evidenced by a certificate signed by an authorized official of the issuer and any resolution of the governing body of the issuer may be sufficiently evidenced by a copy of such resolution certified by the appropriate official of the issuer.

(g) Whenever the State Comptroller shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action, the State Comptroller (unless other evidence be specifically prescribed) may, in the absence of bad faith on the Comptroller's part, rely upon a certificate signed by an authorized official of the issuer.

(h) The State Comptroller may consult with counsel, including the Attorney General, and the written advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by him in good faith and in reliance thereon.

(i) The State Comptroller shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond or other paper or document, but the State Comptroller, in his discretion, may make such further inquiry or investigation into such facts or matters as the State Comptroller may see fit, and, if the State Comptroller shall determine to make such further inquiry or investigation, he shall be entitled to examine the books, records and premises of the issuer personally or by agent or attorney. The issuer shall cooperate in any such investigation, audit or inquiry and make available to the State Comptroller such premises, books, records and any other documents as the State Comptroller reasonably requests.

(j) The State Comptroller shall make no representations as to the validity or sufficiency of the sinking fund bonds.

(k) The State Comptroller shall not be accountable for the use or application by the issuer of the proceeds of the bonds or for compliance by the issuer with provisions relating to the nonincludability of interest on the sinking fund bonds in the gross income of owners of the bonds for purposes of Federal income taxation; provided, however, that the State Comptroller shall be obligated to follow the procedures set forth in section 38.16 of this Part.

(l) The State Comptroller shall not be obligated to obtain any particular rate of return on investments (subject to section 38.16 of this Part).

(m) The State Comptroller shall not be liable for any monetary loss resulting from the default or insolvency of any depository holding investments in a sinking fund, so long as the depository is an institution described in section 22.10(d)(1)(a) of the Local Finance Law, or from any loss on an investment made in accordance with section 22.10 of the Local Finance Law, this Part and any agreement with the issuer.

2 CRR-NY 38.9 Investments {#sec-2-crr-ny-38.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.9}

(a) The State Comptroller shall invest amounts on deposit in sinking fund accounts only in investments permitted under section 22.10 of the Local Finance Law and under any agreement between the issuer and the State Comptroller. Such investments shall mature or be redeemable at the option of the State Comptroller on or before the date such moneys are to be applied to the redemption of sinking fund bonds. For purposes of determining the amount required to be contributed to a sinking fund account, the value of such investments shall be:

(1) the par value thereof, in the case of investments paying interest on a current basis (i.e., paying interest at least annually); and

(2) The accreted value thereof, in the case of investments not paying interest on a current basis (e.g., zero coupon bonds).

(b) Any collateral required for any investment shall be marked to market daily and shall be held by the State Comptroller or his custodian or, if the obligations are in book-entry form, all actions required to perfect the State Comptroller's security interest in such obligations shall be taken.

2 CRR-NY 38.10 Consultants {#sec-2-crr-ny-38.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.10}

The State Comptroller may employ such consultants as from time to time he deems advisable. The State Comptroller shall select such consultants on the basis of their reliability, experience, overall ability to provide high-quality service, cost and any other factors deemed relevant by the State Comptroller.

2 CRR-NY 38.11 Custodians {#sec-2-crr-ny-38.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.11}

Unless the agreement between the issuer and the State Comptroller provides otherwise, the State Comptroller may contract with a bank or trust company for the establishment, maintenance and custody of sinking funds. Such bank or trust company shall meet the requirements of section 22.10(d)(1)(a) of the Local Finance Law and shall be selected on the basis of its reliability, experience, overall ability to provide high-quality service, cost and any other factors deemed relevant by the State Comptroller.

2 CRR-NY 38.12 Insufficient amounts {#sec-2-crr-ny-38.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.12}

If the amount on deposit in the sinking fund account is insufficient to pay sinking fund bonds upon the redemption or maturity thereof, the State Comptroller shall promptly notify the issuer and shall pay the monies on hand in accordance with the instructions of the issuer, provided that after notification of the issuer, the State Comptroller may, in his discretion, deposit such amounts to a court of competent jurisdiction to be disbursed according to the order of such court.

2 CRR-NY 38.13 Defeasance {#sec-2-crr-ny-38.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.13}

Not less than 14 days prior to any proposed act of defeasance, an issuer shall notify the State Comptroller of the entity to which the balance in the sinking fund account relating to the bonds to be defeased shall be transferred and the date by which such transfer shall be accomplished. Unless otherwise specified by the issuer, any securities held in such account shall be sold in accordance with this Part and the proceeds of the sale of the securities shall be transferred to such entity by such date, provided, however, that no such transfer shall be made prior to receipt by the State Comptroller of an opinion of counsel to the issuer that the sinking fund bonds have been defeased or deemed paid under the instrument pursuant to which they were issued or will be defeased or deemed paid upon transfer of the amounts in the sinking fund to the designated entity.

2 CRR-NY 38.14 Liquidation of commingled investments {#sec-2-crr-ny-38.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.14}

If investments on deposit in a sinking fund account are to be sold or transferred and such investments are consolidated with other sinking fund accounts, the State Comptroller may either:

(a) liquidate such investments in the market, in which case each affected sinking fund account shall be credited with its pro rata share of the sales price thereof less expenses incurred in connection with the sale (including without limitation applicable brokerage fees or charges); or

(b) purchase such investments with amounts on deposit in other sinking fund accounts at the fair market value thereof, in which case each transferor sinking fund account shall be credited with its pro rata share of the fair market value thereof (as certified by a dealer in such investments).

2 CRR-NY 38.15 Agreements between issuer and State Comptroller {#sec-2-crr-ny-38.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.15}

The State Comptroller may enter into written agreements with an issuer of sinking fund bonds with respect to the sinking fund accounts of such issuer. Such agreements may include provisions with respect to those matters set forth in section 22.10(d)(7)(b) of the Local Finance Law and in sections 38.3, 38.5 and 38.7 of this Part.

2 CRR-NY 38.16 Investments subject to yield restriction {#sec-2-crr-ny-38.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.16}

The issuer shall deliver or cause to be delivered to the State Comptroller on or before the date of issuance of any sinking fund bonds, a certificate setting forth any restrictions as to the yield on investments in the sinking fund account and whether the issuer will be required to rebate any earnings on investments in the sinking fund account to the Federal government, to the extent that such determinations can be made at such date. The issuer may amend such certificate from time to time to facilitate continuing compliance with Federal Tax Law. The issuer shall direct the State Comptroller to invest and reinvest amounts subject to restriction as to yield or subject to rebate requirements in particular types of investments or to hold certain amounts in currency and shall provide the State Comptroller with the forms of any certifications and other documentation required to be obtained in order to comply with any such restrictions or rebate requirements. The State Comptroller shall notify the issuer if the investments specified by the issuer are not permitted under section 22.10 of the Local Finance Law or the agreement between the issuer and the State Comptroller and the issuer shall thereupon provide the State Comptroller with a list of types of investments which, in the opinion of the State Comptroller, do comply, together with forms of necessary certifications and other documentation. The State Comptroller shall be responsible for arranging for the purchase of such securities and for obtaining the certifications or other documentation specified by the issuer. The issuer shall be responsible for calculating applicable yields and for calculating and paying any rebate amounts. The State Comptroller shall furnish the following information to the issuer upon seven days' notice for all investments in the sinking fund account: purchase date, purchase price, accrued interest portion of the purchase price, face amount, maturity date, maturity amount, interest rate, interest payment dates, disposition date, disposition price, accrued interest portion of the disposition price and any other information reasonably required by the issuer to enable it to comply with Federal Tax Law.

2 CRR-NY 38.17 Certificates and notices {#sec-2-crr-ny-38.17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.17}

Any notices, certificates, directions, instructions, consents or other communications from the issuer to the State Comptroller shall be:

(a) in writing;

(b) signed by the chief executive officer or chief fiscal officer of the issuer or such other officer of the issuer as may be authorized by statute, resolution, ordinance, charter, by-laws or other delegation acceptable to the State Comptroller to execute such documents; and

(c) sent by registered or certified mail, return receipt requested or delivered by hand or by a courier service, in either case, return receipt requested or sent by facsimile transmission followed by confirmation of receipt.

2 CRR-NY 38.18 Payments by State Comptroller {#sec-2-crr-ny-38.18 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.18}

All payments by the State Comptroller shall be made in clearinghouse funds to the entity and account specified by the issuer.

2 CRR-NY 38.19 Records of the State Comptroller {#sec-2-crr-ny-38.19 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.19}

The State Comptroller shall keep records of all investments setting forth for each investment: purchase date, face amount, purchase price, accrued interest portion of the purchase price, maturity date, maturity amount, interest rate, interest payment dates, disposition date, disposition price, accrued interest portion of the disposition price and any other information reasonably necessary to the issuer to enable it to comply with Federal Tax Law. Investments purchased with amounts on deposit in more than one sinking fund account shall be identified as such. Such records shall be available to the issuer upon reasonable request.

2 CRR-NY 38.20 Waiver in cases of hardship {#sec-2-crr-ny-38.20 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 38.20}

Upon a showing of reasonable necessity, the State Comptroller may modify or waive compliance with provisions of this Part, provided that strict compliance is not required by any law or other regulation and failure to modify or waive compliance would, in the opinion of the Comptroller, cause a municipality or school district undue hardship.

Part 39 INSTALLMENT PURCHASE CONTRACTS BY POLITICAL SUBDIVISIONS

2 CRR-NY 39.0 Background {#sec-2-crr-ny-39.0 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.0}

General Municipal Law, section 109-b authorizes political subdivisions to enter into installment purchase contracts to finance capital improvements and to cause or permit certificates of participation to be issued in connection therewith. Subparagraph (d) of subdivision (3) of that statute requires the State Comptroller to adopt rules “governing the procedure which shall be adhered to when entering into installment purchase contracts or authorizing the execution and delivery of certificates of participation....” This provision further provides that a political subdivision shall not conduct the private sale of certificates of participation without prior approval of the State Comptroller “except as provided in such rules which shall set forth the circumstances under which such approval shall not be required.” This Part is being promulgated in accordance with the requirements of General Municipal Law, section 109-b(3)(d). The primary purposes of these rules are to:

(a) cause a political subdivision to critically evaluate the financing alternatives available to it under section 109-b of the General Municipal Law and the Local Finance Law;

(b) ensure that a political subdivision, when procuring the capital improvements to be financed, complies with the competitive bidding requirements of article 5-a of the General Municipal Law or any other general, special or local law or, if such competitive bidding requirements are not applicable, the policies required to be adopted pursuant to General Municipal Law, section 104-b; and

(c) require a political subdivision to seek competition for financing unless the political subdivision determines that it is in its best interests to conduct a private sale of certificates of participation.

2 CRR-NY 39.1 Definitions {#sec-2-crr-ny-39.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.1}

For purposes of this Part:

(a) Cost of financing shall mean the total payments of principal and interest estimated to become payable pursuant to an installment purchase contract or due on indebtedness, as the case may be, together with any estimated actual and necessary expenses incurred in connection with the execution of such installment purchase contract or the issuance of such indebtedness to the extent such expenses are not included in the periodic payments to be made under the installment purchase contract or paid from the proceeds of the indebtedness.

(b) Evaluation of financing alternatives shall mean the evaluation prepared pursuant to section 39.2 of this Part.

(c) Indebtedness shall mean bonds or notes issued in accordance with the Local Finance Law.

(d) Political subdivision, capital improvement, installment purchase contract and certificate of participation shall have the meanings ascribed to them by paragraphs (a) through (d) inclusive of subdivision (1) of section 109-b of the General Municipal Law.

(e) Pooled or aggregate program shall mean any program under which certificates of participation are issued and represent a proportionate interest or the right to receive a proportionate share in lease, rental, installment or other periodic payments made or to be made by a political subdivision and one or more parties, other than the political subdivision, pursuant to installment purchase contracts.

(f) Private sale shall mean any sale of certificates of participation, other than a public sale, conducted by a political subdivision.

(g) Public sale shall mean any sale of certificates of participation conducted by a political subdivision pursuant to section 39.6 of this Part.

2 CRR-NY 39.2 Evaluation of financing alternatives {#sec-2-crr-ny-39.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.2}

No governing board shall adopt a resolution authorizing an installment purchase contract unless an evaluation of financing alternatives has been prepared in connection therewith. Such evaluation shall set forth the financing alternatives considered and the criteria used to evaluate these alternatives. The evaluation shall also contain written documentation substantiating the estimates required to be included in the evaluation pursuant to this section. At a minimum, the evaluation of financing alternatives shall contain the following:

(a) a statement indicating the estimated cost of each capital improvement to be financed, exclusive of the cost of financing;

(b) a statement indicating whether the proposed capital improvements may be financed with indebtedness issued under the Local Finance Law and if not, the specific reasons why such financing is not authorized;

(c) if the capital improvements may be financed with indebtedness, a statement indicating the estimated total cost of the capital improvements, inclusive of the cost of financing, if financed pursuant to the Local Finance Law;

(d) a statement indicating the estimated total cost of the proposed capital improvements, inclusive of the cost of financing, if financed pursuant to an installment purchase contract;

(e) a comparison of the estimated total costs required by subdivisions (c) and (d) of this section; and

(f) a recommendation as to whether it is in the best interests of the political subdivision to finance the capital improvements pursuant to the Local Finance Law or pursuant to an installment purchase contract and the specific reasons for such recommendation.

2 CRR-NY 39.3 Adoption of resolution authorizing an installment purchase contract {#sec-2-crr-ny-39.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.3}

Any resolution authorizing a political subdivision to utilize an installment purchase contract to finance capital improvements shall refer to the evaluation of financing alternatives and, after taking into account such evaluation, set forth the specific reasons why the governing board has determined that it is in the best interests of the political subdivision to finance the capital improvements pursuant to an installment purchase contract. The evaluation of financing alternatives shall be maintained by the political subdivision as a public record and be filed with the resolution to which it pertains.

2 CRR-NY 39.4 Compliance with competitive bidding statutes or other applicable provisions {#sec-2-crr-ny-39.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.4}

No political subdivision shall enter into an installment purchase contract unless and until it has complied with the competitive bidding requirements of article 5-A of the General Municipal Law or of any other general, special or local law. If no such competitive bidding requirements are applicable, the political subdivision shall comply with its procurement policies and procedures adopted pursuant to General Municipal Law, section 104-b. For purposes of complying with such requirements or procedures, a political subdivision may determine to solicit bids, quotations or proposals, as the case may be, in the alternative, exclusive and inclusive, of the cost of financing.

2 CRR-NY 39.5 Procurement of vendor and nonvendor financing {#sec-2-crr-ny-39.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.5}

(a) If the governing board of the political subdivision determines that it is in the best interests of the political subdivision to select a bid, offer or proposal, as the case may be, inclusive of the cost of financing, the governing board shall adopt a resolution authorizing the political subdivision to enter into an installment purchase contract with the successful bidder or offeror making a bid or offer inclusive of the cost of financing.

(b) If the governing board determines that it is in the best interests of the political subdivision to select a bid, offer or proposal, as the case may be, exclusive of the cost of financing, it shall adopt a resolution requiring the capital improvement to be procured from the successful party making a bid, offer or proposal, exclusive of the cost of financing, and directing that nonvendor financing be obtained pursuant to either section 39.6, 39.7 or 39.8 of this Part. Such resolution shall also authorize the political subdivision to enter into an installment purchase contract with any party selected to provide the financing or, if certificates of participation are to be issued, with a party acting on behalf of the holders of the certificates of participation. The resolution may also delegate to the chief fiscal officer the power to cause certificates of participation to be sold pursuant to section 39.6 or 39.7 of this Part.

(c) Any resolution adopted pursuant to this section must include a statement that execution of the installment purchase contract will not cause the political subdivision to exceed the limits prescribed by paragraph c of subdivision 6 of section 109-b of the General Municipal Law.

2 CRR-NY 39.6 Public sale of certificates of participation {#sec-2-crr-ny-39.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.6}

A political subdivision may cause certificates of participation issued in connection with one or more of its installment purchase contracts to be sold at public sale. Such certificates of participation shall be sold to the bidder offering the lowest interest cost as computed in accordance with the net interest cost method, taking into consideration any premium or discount, or the actuarial or true interest cost method, whichever is specified in the notice of sale. The notice of such sale must be circularized in accordance with any rule or order prescribed by the State Comptroller pursuant to paragraph d of section 57.00 of the Local Finance Law for the circularization of notices for the sale of bonds. Where the notice of sale provides that bids shall be awarded based on net interest cost, the notice shall also require that the interest rate for each maturity shall not be less than the interest rate for any prior maturity. The notice of sale must be circularized not less than four nor more than 15 days, Sundays excepted, before the date fixed for the public sale unless the notice provides for a supplemental notice of sale in accordance with the procedure for the sale of bonds in paragraph (d) of section 58.00 of the Local Finance Law.

2 CRR-NY 39.7 Private sale of certificates of participation {#sec-2-crr-ny-39.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.7}

The governing board or the chief fiscal officer, if the governing board has delegated such power to him, may determine that a public sale of certificates of participation is not in the best interests of the political subdivision. The determination of the governing board or chief fiscal officer, as the case may be, shall state that a private sale of such certificates of participation is expected to reduce the cost of financing and set forth the specific factors upon which the governing board or chief fiscal officer has relied on making such determination. The factors recited in such determination may include:

(a) unstable or volatile market conditions;

(b) conditions of fiscal stress or negative credit factors being experienced by the issuer;

(c) the large dollar amount of the proposed issue;

(d) the complexity of the issue; or

(e) any other factor which the governing board or chief fiscal officer, as the case may be, reasonably and in good faith believes will cause the cost of financing to be lower if the certificates of participation are sold at private rather than public sale.

Such determination, if made by the governing board, shall be made by resolution and if made by the chief fiscal officer, shall be made in a certificate filed with the governing board prior to such sale. Upon making the determination required by this paragraph, such certificates of participation may be sold at private sale provided that any underwriters, providers of letters of credit or liquidity facilities, bond counsel and financial advisors to be used in connection with such sale have been selected in accordance with the policies and procedures contained in section 37.5(b)-(e) of this Title. The prior approval of the State Comptroller shall not be required for any private sale of certificates of participation conducted in accordance with the requirements of this paragraph.

2 CRR-NY 39.8 Solicitation of alternative financing quotations {#sec-2-crr-ny-39.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.8}

The governing board, or if authorized by the governing board, the chief fiscal officer may solicit alternative quotations for financing from qualified interested parties. The political subdivision or chief fiscal officer, as the case may be, shall prepare and maintain written documentation of compliance with this section, including the names and addresses of all qualified interested parties from which financing quotations were sought, the responses received from such parties and written justification of the ultimate selection made. Any political subdivision which enters into an installment purchase contract pursuant to this section shall not permit certificates of participation to be issued in connection therewith except as part of a pooled or aggregate program.

2 CRR-NY 39.9 Application of periodic payments and proceeds of certificates of participation {#sec-2-crr-ny-39.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.9}

Periodic payments to be made under an installment purchase contract and the proceeds of certificates of participation shall only be applied towards the following:

(a) the cost of the capital improvements being financed;

(b) the payment of interest pursuant to paragraph (e) of subdivision 2 of the General Municipal Law, section 109-b;

(c) preliminary costs of surveys, maps, plans, estimates, taking of title and interest during construction;

(d) the establishment of reserve funds;

(e) the cost or premiums of letters of credit, insurance or other credit enhancements;

(f) the costs of bond counsel, financial advisors, underwriters, trustees and paying agents; and

(g) other actual and necessary expenses directly related to the issuance of certificates of participation or execution of the installment purchase contract.

2 CRR-NY 39.10 Report to the State Comptroller {#sec-2-crr-ny-39.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 39.10}

The political subdivision shall include in its annual report filed with the State Comptroller in accordance with section 31 of the General Municipal Law such information as the Comptroller may require for all installment purchase contracts and certificates of participation that are issued in connection with such installment purchase contracts, including the amount and date of all certificates of participation sold at private sale.

Subchapter B REFUNDING OF INDEBTEDNESS

Part 50 REFUNDS OF INDEBTEDNESS BY MUNICIPALITIES AND SCHOOL DISTRICTS

2 CRR-NY 50.0 [Indebtedness contracted prior to January 1, 1939.] {#sec-2-crr-ny-50.0 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 50.0}

Under section 2 of article 8 of the State Constitution, and section 8 of the General Municipal Law, indebtedness contracted prior to January 1, 1939, may be refunded only with the approval of, and on terms and conditions prescribed by, the State Comptroller.

2 CRR-NY 50.1 [Application for approval of refunding.] {#sec-2-crr-ny-50.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 50.1}

The application for approval of refunding shall be made by a person duly authorized so to do by resolution of the governing board.

2 CRR-NY 50.2 [Presentation of application.] {#sec-2-crr-ny-50.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 50.2}

The application shall be presented to the State Comptroller not less than 60 days prior to the adoption of the annual budget.

2 CRR-NY 50.3 [Form of application.] {#sec-2-crr-ny-50.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 50.3}

The application shall be filed in duplicate on forms prescribed by the State Comptroller.

Subchapter C CANCELLATION AND DESTRUCTION OF OBLIGATIONS

Part 55 CANCELLATION AND DESTRUCTION OF OBLIGATIONS OF MUNICIPALITIES, SCHOOL DISTRICTS AND DISTRICT CORPORATIONS

2 CRR-NY 55.1 Cancellation of paid obligations {#sec-2-crr-ny-55.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.1}

Bonds, corporate stock, notes, coupons, or other evidences of indebtedness issued pursuant to the Local Finance Law or any other law, when paid, shall be cancelled in either of the following ways:

(a) by perforating the obligation with the word “Paid”, or with the word “Cancelled”, or the substantial equivalent of either word, and with words or numbers which will indicate the date of payment. Beneath such perforations and upon the face of the obligation shall be (1) subscribed in ink the name and title of the chief fiscal officer of the issuer or his duly delegated deputy, or the name and title of an officer of the paying agent of the issuer, or (2) a perforated abbreviation of the name of the municipality, school district or district corporation, such as “C of NY”.

(b) by writing or stamping in ink the word “Paid” together with the date of payment upon the face of the obligation. Beneath such writing or stamp shall be subscribed in ink the name and title of the chief fiscal officer of the issuer, or his duly delegated deputy, or the name and title of an officer of the paying agent of the issuer. If this method is used, the signature or signatures of the officer or officers upon the obligation shall be cut or torn from the cancelled obligation.

2 CRR-NY 55.2 Destruction of cancelled obligations {#sec-2-crr-ny-55.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.2}

Bonds, corporate stocks, notes, coupons, or other evidences of indebtedness issued pursuant to the Local Finance Law or any other law, when paid, may be destroyed, after prior cancellation, by the burning, pulverizing or shredding of such obligations by the chief fiscal officer of the issuer or by his duly delegated deputy or by a duly authorized paying agent, except that registered obligations shall not be destroyed until six years after the date of payment. Such destruction, whether by burning, pulverizing or shredding, shall be effected in such a manner as will render impossible restoration of such obligations to their original form.

2 CRR-NY 55.3 Destruction of obligations by registration agents {#sec-2-crr-ny-55.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.3}

A registration agent may destroy bonds, corporate stock, notes and coupons when necessary to comply with the provisions of title 5 of article 2 of the Local Finance Law. Such destruction shall be accomplished by any of the following methods.

(a) By burning, pulverizing or shredding the obligations.

(b) By perforating the obligation with the word “Void”, or with the word “Cancelled”, or the substantial equivalent of either word, and with words or numbers which will indicate the date upon which the obligation was rendered void. Beneath such perforations and upon the face of the obligations shall be (1) subscribed in ink the name and title of the registration agent of the issuer or his duly delegated deputy, or the name and title of an officer of the bank or trust company acting as registration agent of the issuer, or (2) a perforated abbreviation of the name of the municipality, school district or district corporation, such as “C of NY”.

(c) By writing or stamping in ink the word “Void” upon the face of the obligation. Beneath such writing or stamp there shall be written or stamped in ink the date upon which the obligation was rendered void. Beneath such word and date there shall be subscribed in ink the name and title of the registration agent of the issuer or his duly delegated deputy, or the name and title of an officer of a bank or trust company acting as a registration agent of the issuer. If this method is used the signature or signatures of the officer or officers upon the obligation shall be cut or torn from the destroyed obligation.

2 CRR-NY 55.4 Cancellation of coupons by counties or cities {#sec-2-crr-ny-55.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.4}

Notwithstanding the provisions of sections 55.1 and 55.3 of this Part, any county or city may cancel paid coupons or may destroy unpaid coupons by perforating the coupon in two places with holes approximately three-sixteenths of an inch in diameter. One of such perforations shall be through the signature and the other through the dollar amount.

2 CRR-NY 55.5 Burning, pulverizing or shredding of obligations {#sec-2-crr-ny-55.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.5}

Should obligations be destroyed in the manner set forth in subdivision (b) or (c) of section 55.3 of this Part, or in the manner set forth in section 55.4 of this Part, they shall be burned, pulverized or shredded within one year from the date of such destruction.

2 CRR-NY 55.6 Records to be kept {#sec-2-crr-ny-55.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.6}

A record shall be kept by each chief fiscal officer, registration agent and paying agent of all obligations cancelled or destroyed by them, respectively, which record shall properly describe the obligation cancelled or destroyed and state the date of such cancellation or destruction.

2 CRR-NY 55.7 Use of facsimile signature {#sec-2-crr-ny-55.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.7}

Any officer required by this Part to subscribe his name upon an obligation which is to be cancelled or destroyed may use, in lieu of an actual signature, a stamp or other device which will produce in ink a facsimile signature of such officer.

2 CRR-NY 55.8 Cancellation and destruction of partially destroyed or defaced obligations {#sec-2-crr-ny-55.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.8}

When new bonds, corporate stock, notes or coupons are to be reissued pursuant to the provisions of section 164.00 of the Local Finance Law, to replace a partially destroyed or defaced obligation, there shall be written or stamped in ink upon the face of the obligation, if possible, or if not possible then upon a paper attached to the obligation, the following words: “Void. New obligation issued pursuant to Section 164.00 of the Local Finance Law on................, 19....” The chief fiscal officer, or his duly delegated deputy, shall subscribe his name and title to such statement. Such partly destroyed or partly defaced obligation shall not be destroyed until six years after the payment of the new obligation issued in lieu thereof, at which time the destruction shall be by burning.

2 CRR-NY 55.9 Effective date {#sec-2-crr-ny-55.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 55.9}

This Part shall take effect immediately and shall be filed in the Department of Audit and Control and a duplicate original copy hereof shall be filed in the Department of State.

Subchapter D EXCLUSION OF SELF-LIQUIDATING INDEBTEDNESS FROM LIMITATIONS

Part 60 EXCLUSION OF SELF-LIQUIDATING INDEBTEDNESS IN ASCERTAINING POWER OF A MUNICIPALITY TO CONTRACT INDEBTEDNESS

2 CRR-NY 60.1 Applications {#sec-2-crr-ny-60.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 60.1}

Applications submitted to the State Comptroller in accordance with the provisions of section 123.00 of the Local Finance Law shall comply with the provisions of this Part.

2 CRR-NY 60.2 Execution of applications {#sec-2-crr-ny-60.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 60.2}

The application shall be made by the chief fiscal officer, in the case of a municipality, and by the finance board, in the case of a district corporation. In the event the application is made by a city, village or town for the exclusion of all or part of the outstanding indebtedness of a district corporation, such application shall be made by the chief fiscal officer of such municipality. The application of a chief fiscal officer of a municipality shall be verified by such officer; the application of the finance board of a district corporation shall be verified by such board. If the application is made by the chief fiscal officer, it shall state the title of his office.

2 CRR-NY 60.3 Caption of applications {#sec-2-crr-ny-60.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 60.3}

The application shall be entitled substantially as follows:

STATE OF NEW YORK—DEPARTMENT OF AUDIT AND CONTROL

In the Matter

of

The application of ( If a municipality, name of chief fiscal officer)

as chief fiscal officer of the (Name of municipality))

(the finance board of (If a district corporation, name and location of the district corporation))

for a certificate of the State Comptroller authorizing the exclusion of certain outstanding indebtedness, pursuant to section 123.00 of the Local Finance Law.

2 CRR-NY 60.4 Contents of application {#sec-2-crr-ny-60.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 60.4}

(a) The application, if made by a chief fiscal officer of a municipality, shall state whether the application is made by him in his discretion or whether he has been directed by the finance board to make the application. The application shall contain a brief description of the public improvement or part of a public improvement or service, a reference to the law pursuant to which the public improvement or part of a public improvement is owned or the service is rendered and a statement of the actual date, or if that is not known, the approximate date, when the public improvement or part of a public improvement was placed in operation or the service was first rendered. In the case of a district corporation or an improvement district of a county or town, the application shall state the date on which such corporation or improvement district was created or established, the date of any extension thereof, a reference to the statutes pursuant to which it was created, established or extended and a reference to the statutes pursuant to which it operates. It shall state the dates of the commencement and termination of the fiscal year in which the application is filed and the same information for the preceding fiscal year. If such public improvement or a part of a public improvement shall have been in operation or such service shall have been rendered for at least one complete fiscal year of such municipality, district corporation, or improvement district, the application also shall contain the following information with respect to such public improvement, or part of a public improvement or service for the preceding fiscal year:

(1) A description of each issue of bonds, bond anticipation notes and capital notes issued therefor and outstanding (i) as of the beginning of such preceding fiscal year, (ii) as of the close of such preceding fiscal year and (iii) as of the date of the application. For each issue of obligations there shall be set forth the amount of such issue outstanding as of the beginning of such preceding fiscal year, as of the close of such preceding fiscal year and as of the date of the application, the date of issue, the date of final maturity, the interest rate, the dates of amortization or payment of principal and of interest, and the amounts required during such preceding fiscal year for the payment of interest on and the amortization or payment of the principal thereof. If any bonds, bond anticipation notes and capital notes were issued therefor during such preceding fiscal year and were paid during such year, other than from the proceeds of bonds, there shall be set forth the details of such borrowing and payment.

(2) The gross revenue actually received therefrom during such preceding fiscal year. Such gross revenue shall not include receipts from taxes and assessments for benefit or subsidies by the municipality or district corporation in any form or manner.

(3) The amount incurred therefor during such preceding fiscal year for the costs of operation, maintenance and repairs.

(4) The net revenue received therefrom during such preceding fiscal year which shall be determined by subtracting the amount of item (3) above from the amount of item (2) above.

(5) The amount outstanding at the close of such preceding fiscal year of real property liabilities and contract liabilities incurred for such public improvement, part of a public improvement or service and the amount outstanding at the close of such preceding fiscal year of judgments, claims, awards and determinations attributable to or chargeable against such public improvement, part of a public improvement or service. The definitions of the terms “real property liabilities”, “contract liabilities” and “judgments, claims, awards and determinations”, in subdivisions 2, 3 and 6 of paragraph a of section 135.00 of the Local Finance Law shall apply herein.

(b) If such public improvement or part of a public improvement shall have been in operation or such service shall have been rendered for a period less than 12 months prior to the date of the application, then the information required pursuant to paragraphs (2), (3) and (4) of subdivision (a) of section 60.4 of this order shall be estimated for the first 12 months of operation thereof by the chief fiscal officer or the finance board, whichever verifies the application, and the information required pursuant to paragraph (5) of subdivision (a) thereof shall be set forth as of the date of application. In addition there shall be set forth a description of each issue of bonds, bond anticipation notes and capital notes issued therefor and outstanding as of the date of the application. For each issue of obligations there shall be set forth the amount of such issue outstanding as of the date of the application, the date of issue, the date of final maturity, the interest rate, the dates of amortization or payment of principal and of interest, and the amounts required, or estimated to be required, in such 12-months period for the payment of interest on and the amortization or payment of the principal thereof. If any bonds, bond anticipation notes and capital notes have been or will be issued therefor during such 12-months period and will be paid during such period, other than from the proceeds of bonds, there shall be set forth the details of such borrowing and payment or expected payment.

(c) If such public improvement or part of a public improvement shall have been in operation or such service shall have been rendered for a period less than the entire preceding fiscal year of the municipality or district corporation but for 12 months or more prior to the date of the application, then the information required pursuant to paragraphs (1), (2), (3), (4) and (5) of subdivision (a) of section 60.4 of this order shall be set forth for the first 12 months of the operation of such public improvement, or part of a public improvement or of the rendition of such service.

(d) If there are outstanding bond anticipation notes, real property liabilities, contract liabilities or unpaid judgments, claims, awards or determinations as of the date of the application, the application shall contain a tentative plan indicating how such notes, liabilities, judgments, claims, awards or determinations are to be paid and if bonds are to be issued therefor, for the payment of all or part thereof, the application shall set forth the amounts, the proposed dates of issuance and the maturities of such proposed bonds together with a schedule of the proposed principal payments and estimated interest payments on such bonds.

(e) The application shall describe the indebtedness sought to be excluded.

(f) The application may contain or be supported by financial statements, documents, computations, data and information as such chief fiscal officer or finance board shall deem pertinent.

2 CRR-NY 60.5 Other requirements {#sec-2-crr-ny-60.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 60.5}

Each application shall be accompanied by a copy of the most recently adopted budget and a copy of the previously adopted budget of the municipality, of the county or town improvement district, or of the district corporation, as the case may be, unless pursuant to section 54-a of the State Finance Law or pursuant to some other law, such municipality, improvement district or district corporation has filed copies of such budgets with the State Comptroller.

2 CRR-NY 60.6 Effective date {#sec-2-crr-ny-60.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 60.6}

This order shall take effect immediately and shall be filed in the Department of Audit and Control and a duplicate original copy hereof shall be filed in the Department of State.

Part 61 EXCLUSION OF SELF-LIQUIDATING HOUSING INDEBTEDNESS IN ASCERTAINING POWER OF A CITY TO CONTRACT HOUSING INDEBTEDNESS

2 CRR-NY 61.1 Form of statement {#sec-2-crr-ny-61.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 61.1}

A statement submitted by the chief fiscal officer of a city to the State Comptroller, pursuant to section 152.00 of the Local Finance Law, for a certificate of the State Comptroller authorizing the exclusion of housing indebtedness contracted by such city, shall be in the form of a petition and shall be entitled as follows:

STATE OF NEW YORK—DEPARTMENT OF AUDIT AND CONTROL

In the Matter

of

The application of ______, as the chief fiscal officer of the city of ______ for a certificate of the State Comptroller, pursuant to section 152.00 of the Local Finance Law, authorizing the exclusion of certain housing indebtedness of the city in ascertaining the power of the city to contract indebtedness to effectuate any of the purposes of article XVIII of the State Constitution.

2 CRR-NY 61.2 Execution {#sec-2-crr-ny-61.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 61.2}

The application shall be submitted in duplicate and shall be verified by such chief fiscal officer.

2 CRR-NY 61.3 Contents {#sec-2-crr-ny-61.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 61.3}

The application shall contain:

(a) The date of the commencement and termination of the fiscal year of the city in which the application is filed, and the same information for the preceding fiscal year.

(b) A brief description of the project or projects in relation to which an exclusion of housing indebtedness is sought.

(c) A statement as to whether the project or projects are aided by (1) a guarantee or guarantees of the city representing indebtedness which the city seeks to exclude or (2) a loan or loans from the city for which the city contracted indebtedness which the city seeks to exclude. Any guarantee or guarantees or loan or loans shall be described in reasonable detail.

(d) A statement, as to each project, of the indebtedness sought to be excluded which arises from such guarantee or guarantees or loan or loans. The amount of any indebtedness arising from a guarantee shall be ascertained pursuant to section 143.00 of the Local Finance Law.

(e) A statement of the gross revenues of each project actually received during such preceding fiscal year. In computing gross revenues, periodic subsidies received in cash shall be included but shall be identified as to amounts and sources.

(f) A statement, as to each project, of the amount incurred during such preceding fiscal year for the costs of operation, maintenance, repairs and replacements; the amount of the interest due and paid on any such indebtedness during such preceding fiscal year; and the amounts required in such preceding fiscal year for the payment of any such indebtedness. In any such computation, the amounts paid into a fund, from which costs of operation, maintenance, repairs and replacements are intended and required to be paid in a subsequent year, shall be deemed a cost for such preceding fiscal year, but amounts expended from any such fund shall not be deemed an expenditure for costs of operation, maintenance, repairs or replacements in the year of expenditure.

(g) A statement of the amount of the net revenue, which in the opinion of such chief fiscal officer, was yielded by each such project during such preceding fiscal year.

(h) A declaration, as to each project, in the case of a project or projects aided by a guarantee or guarantees, that the interest on and the amounts required for the payment of such indebtedness in such preceding fiscal year were paid during such preceding fiscal year from such gross revenues.

(i) A declaration, in the case of a project or projects aided by a loan or loans, that the amount which the city was required to pay during such preceding fiscal year for interest on and principal of such indebtedness was paid to the city during such year from such gross revenues.

(j) The application shall contain a statement, as to each project, that expenditures actually made for the purposes set forth in subdivision (f) above and that amounts required for the payment of such indebtedness and interest as specified in subdivision (f), were made or set aside from the gross revenues described in subdivision (e) above.

(k) The application shall contain a statement of the chief fiscal officer that the project or projects were maintained in good condition in such preceding fiscal year and that no item of maintenance, operation, repairs and replacements normal for such preceding fiscal year was deferred to a subsequent fiscal year.

(l) The application may contain or be supported by such documents, computations, data and information as such chief fiscal officer shall deem pertinent.

2 CRR-NY 61.4 Application to be available for inspection {#sec-2-crr-ny-61.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 61.4}

The application shall be filed in the office of the chief fiscal officer of the city prior to the date of the publication of the notice required to be published pursuant to paragraph f of section 152.00 of the Local Finance Law and shall remain on file and available for public inspection for at least two weeks subsequent to the date of the publication of such notice. A copy of such application and of all documents, computations and other data and information which will be submitted to the State Comptroller by the chief fiscal officer of the city in support of the application shall be filed in the office of such chief fiscal officer and shall be public records.

2 CRR-NY 61.5 Affidavits {#sec-2-crr-ny-61.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 61.5}

The application filed with the State Comptroller shall be accompanied by an affidavit of the chief fiscal officer of the city which shall show due compliance with section 61.4 of this Part and shall set forth a copy of the notice published pursuant to paragraph f of section 152.00 of the Local Finance Law and shall show that such notice was duly published. Such affidavit also shall contain a statement that no legal action or proceeding, designed to prevent the submission of such application, has been commenced, or, in the event any such action or proceeding has been commenced, the affidavit shall contain a statement describing any such action or proceeding. Such affidavit also shall state that nothing has been done, or has happened, to the knowledge of the affiant which affects the application or the proceedings thereunder. Such affidavit must be sworn to as of a date at least two weeks subsequent to the date of the publication of the notice required to be published pursuant to paragraph f of section 152.00 of the Local Finance Law.

2 CRR-NY 61.6 Effective date {#sec-2-crr-ny-61.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 61.6}

This Part shall take effect immediately and shall be filed in the Department of Audit and Control and a duplicate original copy hereof shall be filed in the Department of State.

Part 62 EXCLUSION OF SEWER INDEBTEDNESS IN ASCERTAINING POWER OF A MUNICIPALITY TO CONTRACT INDEBTEDNESS

2 CRR-NY 62.1 Applications {#sec-2-crr-ny-62.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 62.1}

Applications filed with the State Comptroller pursuant to the provisions of section 124.10 of the Local Finance Law shall comply with the provisions of this Part.

2 CRR-NY 62.2 Execution of applications {#sec-2-crr-ny-62.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 62.2}

The application shall be made and verified by the chief fiscal officer of the municipality and shall state the title of his office.

2 CRR-NY 62.3 Caption of application {#sec-2-crr-ny-62.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 62.3}

The application shall be entitled substantially as follows:

STATE OF NEW YORK DEPARTMENT OF AUDIT AND CONTROL

In the Matter

of

The application of ( (Name of chief fiscal officer))

as chief fiscal officer of the (Name of municipality)

for a certificate of the State Comptroller authorizing the exclusion of sewer indebtedness pursuant to section 124.10 of the Local Finance Law.

2 CRR-NY 62.4 Contents of application {#sec-2-crr-ny-62.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 62.4}

(a) The application shall state whether it is made by the chief fiscal officer in his discretion or upon direction of the finance board. It shall contain a brief description of the facilities for the construction or reconstruction of which the indebtedness has been or is proposed to be incurred and a statement that such facilities are for the conveyance, treatment and disposal of sewage. If any part of such facilities are for a purpose other than the conveyance, treatment and disposal of sewage, the application shall state the nature of such other purpose and the amount of indebtedness contracted or proposed to be contracted therefor. In the case of an application relating to proposed indebtedness to be excluded, the application shall state the approximate date or dates when such indebtedness, or portions thereof, are proposed to be contracted and whether such indebtedness is to be in the form of a contract for construction or in the form of obligations, or in both such forms. It shall also contain a reference to the law pursuant to which such facilities are or will be owned and a statement of the actual date or, if that is not known, the approximate date when the facilities were or are to be placed in operation.

(b) In the case of indebtedness contracted or proposed to be contracted by a county or town on behalf of an improvement district the application shall state the date on which such improvement district was created or established, the date of any extension thereof, a reference to the statutes pursuant to which it was created, established or extended and a reference to the statutes pursuant to which it operates. It shall also state the dates of the commencement and termination of the fiscal year in which the application is filed.

(c) A verified itemized statement, prepared by the chief fiscal officer in his discretion or on the direction of the finance board, of the indebtedness of the municipality contracted or proposed to be contracted for such facilities on or after January 1, 1962 and prior to January 1, 1973 shall be attached to the application. Such statement shall describe each issue of bonds, bond anticipation notes, capital notes or other obligations issued or proposed or contract indebtedness incurred or proposed to be incurred within such period. It shall state the date of such issuance or incurrence, the amount of such obligations originally issued and the amount outstanding as of the date of the application.

(d) In the case of outstanding contract indebtedness such statement shall set forth the name of each party to the contract or contracts and an itemization of the amount of indebtedness originally incurred under each such contract or contracts and the amount owing as of the date of the application.

(e) Such application shall also state that, in the event that the State Comptroller shall grant the exclusion sought, the revenues, if any, of such facility, during the period for which the exclusion is effective shall be applied and actually used for the payment of all costs of operation, maintenance and repairs and payment of the amounts required for the interest on and amortization of or redemption of the indebtedness sought to be excluded, or that such revenues will be deposited in a special fund to be used solely for such payments.

(f) In the case of bond indebtedness, a maturity schedule for the bond issue shall also be appended to the application and a statement shall be included setting forth the manner in which the payment of debt service on such bonds is to be paid (e.g., sewer rents, taxes, assessments, etc.).

(g) In the event that the State Comptroller shall have issued pursuant to section 123.00 of the Local Finance Law a certificate excluding all or part of the indebtedness sought to be excluded pursuant to section 124.10 of the Local Finance Law, the application shall state the date of such certificate and the amount and nature of such indebtedness for which such exclusion was granted.

2 CRR-NY 62.5 Definition of sewage {#sec-2-crr-ny-62.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 62.5}

For the purpose of this Part the term “sewage” shall have the same meaning as that defined in subdivision (d) of section 1202 of the Public Health Law.

2 CRR-NY 62.6 Effective date {#sec-2-crr-ny-62.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 62.6}

This Part, as amended, shall take effect immediately and shall be filed in the Department of Audit and Control and a duplicate original copy hereof shall be filed in the Department of State.

Subchapter E ADMINISTRATION OF FUNDS PAID INTO COURTS OF RECORD

Part 70 ADMINISTRATION OF FUNDS PAID INTO COURTS OF RECORD

2 CRR-NY 70.1 Definitions {#sec-2-crr-ny-70.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.1}

The term county treasurer includes the Commissioner of Finance of the City of New York, a county treasurer in counties outside the City of New York and any other fiscal officer performing the functions of a county treasurer.

2 CRR-NY 70.2 Order or certificate to deposit {#sec-2-crr-ny-70.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.2}

Each deposit of money or securities with a county treasurer shall be accompanied by either:

(a) a copy of the judgment, order or decree directing said deposit or payment into court certified by the clerk of the court or by an attorney pursuant to section 2105 of the Civil Practice Law and Rules; or

(b) where the deposit is made without court order, a certificate, under seal of the court having jurisdiction, of the clerk or other officer of the court who received the deposit, in those cases where moneys or securities are deposited or paid into court pursuant to statute. For example, a tender into court, a deposit to discharge a judgment or a mechanic's lien, security for costs in certain cases; deposits of civil bail; a surplus arising upon the sale of property by a sheriff under an execution or by a referee in mortgage foreclosure proceedings by advertising. This certificate shall contain the following information:

(1) name of the court, or source of the receipt;

(2) title of the action or proceeding;

(3) by whom, for whom and for what purpose the deposit is made;

(4) date of the original receipt by the official making the deposit; and

(5) if the deposit consists of cash, the amount thereof, if it be securities, the nature and description of the same.

2 CRR-NY 70.3 Order for payment {#sec-2-crr-ny-70.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.3}

No payment, investment, surrender or delivery of court funds, property or security may be made by any county treasurer or depository, without a certified copy of an order or decree of the court having jurisdiction of such funds, property and securities, directing each such payment, investment, surrender or delivery. However, payment may be made by a county treasurer without a court order, to the person entitled thereto or his authorized attorney, whenever the amount paid into court, inclusive of interest earned thereon, does not exceed $50.

2 CRR-NY 70.4 Payments {#sec-2-crr-ny-70.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.4}

(a) Payments out of court may only be made when directed by an order or decree of the court into which the funds were paid or the court to which jurisdiction thereof has been properly transferred, or a court having concurrent jurisdiction thereof, except that payment without a court order is permissible under the circumstances set forth in section 70.3 of this Part, and pursuant to section 602 of the Abandoned Property Law.

(b) Funds may not be transferred from one depository to another except pursuant to the direction of an order of a court of competent jurisdiction or by an order of the Comptroller of the State of New York.

(c) Payments may be made on affidavits and proof of age alone. Moneys deposited for or on behalf of an infant or infants payable when the same become of legal age are to be paid under the order directing the deposit when such infant or infants become of legal age, unless an order from a court of competent jurisdiction directs the withholding of such payment beyond the infant's 18th birthday.

(d) A court may direct that money or securities in the custody of a county treasurer be transferred or invested as it deems proper. (CPLR, § 2601[d].)

(e) When the whole or remaining balance of all payments of money into court in an action, or the whole or remaining balance of a distributive share thereof, or any security or other property, is directed to be paid out of court, the order must direct the payment of all accrued income belonging to the party to whom such money or distributive share or remaining balance thereof, or security or other property is paid. (CPLR, rule 2607.)

(f) No property paid into court, or income from such property, shall be paid out except upon order of the court directing payment to a specified person. (CPLR, rule 2607.) However, payment of abandoned property to the State Comptroller may be made by a county treasurer without a court order, as provided by section 602 of the Abandoned Property Law.

(g) Under subdivision 11 of section 8 of the State Finance Law the Comptroller may not designate any bank as a depository of court and trust funds, unless such bank agrees to the payment of interest. Court and trust funds may be placed in time deposit accounts or savings bank accounts. (1952 Op. Atty. Gen. 116.)

(h) Where a certificate of deposit showing the amount held by the Comptroller as abandoned property and to whose credit the same has been reported is required in connection with application to the court for an order directing payment pursuant to section 1406 of the Abandoned Property Law, the same shall be issued either to the person to whose credit the same has been reported or to an attorney at law or other person acting in his behalf, in which case the application for the issuance of such a certificate of deposit shall be accompanied by an instrument duly executed and acknowledged in the presence of a notary public conferring authority upon such attorney or agent to act on behalf of the person claiming to be entitled to a refund. The Comptroller may require, as a condition of issuing such a certificate of deposit that preliminary evidence of the identity of the person requesting issuance of the certificate as the individual to whose credit money has been received as abandoned property, be furnished. Application for the issuance of the certificate of deposit shall be accompanied by a fee of $1, payable by check or money order to the Department of Audit and Control.

2 CRR-NY 70.5 Vouchers {#sec-2-crr-ny-70.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.5}

Either of the following shall be considered a proper voucher for payments of money out of court, by a county treasurer.

(a) A check properly endorsed and bearing proper evidence of payment by the bank on which it was drawn to the person or persons to whom payment was directed to be made.

(b) A proper receipt or voucher signed by the person or persons to whom payment is directed to be made or to whom securities or other property are directed to be assigned or delivered. Said receipt must be filed at the time of any payment, assignment or delivery directed by the order of the court.

(c) A release executed by the person to whom payment is to be made and/or securities are to be assigned or delivered by the county treasurer, without a court order, where the moneys and/or securities, inclusive of interest, do not exceed $50. Said release must be filed prior to the payment, assignment or delivery.

2 CRR-NY 70.6 Fees {#sec-2-crr-ny-70.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.6}

(a) A county treasurer is entitled only to the fees prescribed by law.

(b) Fees for investing money pursuant to a direction of a court must be taken at the time such investment is made.

(c) Fees for receiving and paying interest on investments must not be taken until such interest is actually paid.

(d) A county treasurer is not entitled to fees for receiving court funds from his predecessor in office nor for delivering such funds to his successor in office.

(e) A county treasurer can waive his right to fees only when such fees belong to him personally, and not to the county.

(f) No entry or payment of fees shall be made in the court and trust fund ledger of a county treasurer until they are actually paid.

(g) Except as hereinafter provided, unless the court specially directs, all fees for payment of money out of court shall be deducted from the amount paid and not from the balance remaining to the credit of the action or proceeding. When no provision for fees is contained in the order directing payment, such fees shall be deducted from each separate amount so directed to be paid except in the following case; if a judgment or other evidence of debt has become a lien upon the funds or portion thereof, or the expenses of litigation, such as referee's fees, county clerk's fees or fees for subpoenaing witnesses, are directed to be paid therefrom, the fees for paying out same shall be deducted from the sum or sums remaining of the share or shares which are to bear such expenses if such sum or sums be sufficient. If they be insufficient, the amount to be applied to such payments shall be the amount remaining of such sum or sums after deducting treasurer's fees.

2 CRR-NY 70.7 Books of account of county treasurers and commissioners of finance {#sec-2-crr-ny-70.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.7}

(a) When funds are received by a county treasurer or commissioner of finance, such officer shall forthwith open in the court and trust ledger a separate account for each action and proceeding and shall keep an exact account of all moneys and securities attributable thereto. Each account in such book or books of account shall state:

(1) name of court or source of receipt when not deposited by court order;

(2) title of action or proceeding and action or proceeding number;

(3) date of entry of original order to deposit;

(4) date of original receipt of money or securities;

(5) name of person from whom received;

(6) name of each beneficiary, when known, or purpose for which the deposit is made;

(7) amount of money or securities received;

(8) description of securities received;

(9) name of depository in which the funds are deposited;

(10) each addition of interest;

(11) date and description of each order directing payment;

(12) date and amount of each payment and to whom paid;

(13) each investment, if any, and change thereof; and

(14) such additional data as may be required by the State Comptroller.

These entries must be made in the court and trust fund ledger at the time the underlying transactions occur.

(b) A separate book entry account must be maintained for each action or proceeding as required by subdivision (a) of this section. A separate account in a financial depository need not be maintained for each such action or proceeding. Funds held for particular actions or proceedings may be pooled into a common bank account. Income earned on the common account must be prorated at least quarterly as entries to the individual book entry accounts which together comprise the common bank account. This subdivision shall not be construed so as to abridge the responsibilities of depositories as set forth in Rule 2605 of the Civil Practice Law and Rules and in section 104(6) of the Banking Law.

2 CRR-NY 70.8 Deposit of funds with depositories {#sec-2-crr-ny-70.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.8}

(a) The State Comptroller will notify the county treasurer of each county of the name and location of each depository authorized to receive court and trust funds and moneys paid into courts of record in said county and of the maximum amount of such funds and moneys which may be placed on deposit at each depository.

(b) All court and trust funds and moneys paid into courts of record must be deposited in a designated depository. All such funds and money received by a county treasurer shall be deposited no later than the close of the next business day following receipt.

(c) Whenever the balance of court and trust funds and moneys paid into courts of record in a depository shall exceed 95 percent of the amount fixed by the State Comptroller as the maximum amount of such funds which may be deposited in such depository, the county treasurer shall immediately notify the State Comptroller. A county treasurer may notify the State Comptroller at any earlier time if the county treasurer deems that circumstances warrant that the State Comptroller be made aware of a given situation. Notification must be in writing sent by first class mail except that in cases of perceived emergencies the county treasurer may telephone the Bureau of Cash and Debt Management in the Office of the State Comptroller and confirm by facsimile transmission or first class mail. When the balance of the deposits equals 100 percent of the amount so fixed, the county treasurer shall immediately notify the Bureau of Cash and Debt Management in the Office of the State Comptroller by telephone and confirm by facsimile transmission to seek an amendment to the depository's Certificate of Eligibility to increase the maximum amount authorized to be deposited in such depository.

(d) Funds held for particular actions or proceedings may be pooled into a common bank account provided that the designated depository keeps a separate book entry account for each action or proceeding for which funds or moneys are deposited setting forth:

(1) the name of the court;

(2) the title of the action or proceeding;

(3) the amount deposited;

(4) the amount of any additional deposits;

(5) the amount of interest credited; and

(6) the amount of each withdrawal.

(e) Each deposit must be accompanied by a deposit statement of the county treasurer setting forth the name of the court, the title of the action or proceeding and the amount deposited.

2 CRR-NY 70.9 Investments {#sec-2-crr-ny-70.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.9}

A county treasurer may invest court and trust funds in his charge in securities that are legal investments for trustees, subject to the following conditions:

(a) Loans upon real property should not be made:

(1) where property is encumbereds and/or situated outside the county in and for which the funds were paid into court;

(2) by uniting the funds of separate and distinct actions, proceedings or accounts;

(3) for more than 50 percent of the value of the property;

(4) without an order of the court having jurisdiction of the funds distinctly specifying the securities to be taken. This order should provide for payment of the mortgage recording tax. (See Tax Law, art. 11).

(b) Loans upon real property shall not be made until the treasurer is furnished with:

(1) a bond and mortgage containing interest, insurance, tax and assessment clauses;

(2) an abstract of title of such property showing the title to be perfect in the borrower and free and clear of all incumbrances or, with a title policy of some responsible guaranty company;

(3) a tax search indicating that all taxes and assessments have been paid to date;

(4) an affidavit of title in the form prescribed by the State Comptroller;

(5) a fire insurance policy in the amount of the loan, the policy not to contain and co-insurance clause, which must at all times be assigned to the treasurer as collateral for the loan.

(c) The county treasurer shall require all interest and all taxes and assessments on property covered by a loan to be paid promptly when due. When the interest on an investment shall not have been paid within 30 days after the same shall become due and payable, the county treasurer shall immediately notify the State Comptroller of such default, together with any reason within his knowledge why such interest was not paid.

(d) The county treasurer shall require each policy of insurance on property covered by loans to be succeeded by a similar policy immediately upon its expiration. When such policy shall not be so succeeded, the county treasurer shall at once notify the State Comptroller of such default, together with any reason within his knowledge why such policy was not so succeeded.

(e) A county treasurer shall not transfer, sell or assign any stocks, bonds, mortgages or other security representing funds or property paid into court except pursuant to an order of a court of competent jurisdiction.

2 CRR-NY 70.10 [Repealed] {#sec-2-crr-ny-70.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.10}

2 CRR-NY 70.11 Depositories {#sec-2-crr-ny-70.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.11}

(a) Designations; payment of interest.

(1) No banking institution whose aggregate surplus and undivided profits do not equal or exceed 20 percentum of the share capital of the institution shall be designated as a depository for court and trust funds or for moneys paid into court.

(2) Depositories to pay interest. Depositories shall pay interest on court and trust funds and money paid into courts of record at a rate satisfactory to the State Comptroller and in no event less than the highest rate being paid by the depository on other accounts having similar maturities. Such interest shall be computed from the date of deposit to the date of withdrawal, except that no interest shall be payable on monies withdrawn within 30 days from the date of deposit. Interest is to be credited not less often than quarterly.

(b) Execution of undertaking and assignment of bonds.

(1) The undertaking is to be executed by the proper officer of the depository under its seal. The filing of the undertaking with the State Comptroller constitutes a permanent undertaking on which the security may be changed or substituted from time to time as the condition of the deposit may warrant. No such change or substitution is to be made without the consent of the State Comptroller.

(2) The assignment of bonds made to secure deposits is to be executed in duplicate by proper officers of the depositary in addition to the undertaking and must refer to date and amount of undertaking and must set forth a description of bonds deposited and assigned.

(3) Proof of the execution of an instrument executed by a corporation must be made by acknowledgment of an officer authorized to execute the same by the board of directors of the corporation. Such acknowledgment must be under oath, stating that the seal affixed or impressed is the seal of the corporation and the signatures of the officers are the official signatures of such officers, and that both the seal and the signatures were attached by order of the board of directors.

(4) Savings banks are not required to execute an undertaking or pledge collateral to secure deposits of court and trust funds.

(c) Depositories to furnish certificate of balances.

Each depository shall furnish annually to each county treasurer, from whom court and trust funds or deposits of money paid into court have been received, a certificate of the proper officer of such depository stating the exact amount on deposit to the credit of each action and proceeding separately on December 31st, including interest credits as of January 1st following. A copy of such certificate shall be furnished to the State Comptroller. Such certificate shall be furnished within 10 days after December 31st in each year.

2 CRR-NY 70.12 Reports to the State Comptroller {#sec-2-crr-ny-70.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.12}

(a) Annual reports.

Each county treasurer having control of any moneys, securities or other property paid into a court of record must make a report thereof to the State Comptroller in such form as the State Comptroller shall prescribe for each calendar year. Such report must be filed in the State Comptroller's office within 30 days after the expiration of the year for which such report is made. Blank forms for this report will be furnished by the Office of the State Comptroller. Interest credited as of January 1st following must be included in such report with the interest accumulated during the preceding year. Such report must be accompanied by a proper certificate from each depository required by section 184 of the State Finance Law.

(b) Monthly reports.

Each county treasurer and each depository shall make such further report as the State Comptroller may require and in the form which the State Comptroller may prescribe.

(c) Depository reports.

Whenever any depository authorized to receive court and trust funds effects a change of name or is merged with another bank, such depository shall notify the State Comptroller, in writing, of such change in name or status, within 10 days after the same shall become official by action of the Banking Department of the State of New York or the Board of Governors of the Federal Reserve System.

2 CRR-NY 70.13 [Repealed] {#sec-2-crr-ny-70.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 70.13}

Part 71 REPORT OF OPEN ESTATES

2 CRR-NY 71.1 Report of open estates {#sec-2-crr-ny-71.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 71.1}

(a) Whenever the estate of a decedent is being administered by a public administrator pursuant to article 12 of the Surrogate's Court Procedure Act or by a chief fiscal officer of a county who either is appointed administrator of an estate pursuant to section 1219 of the Surrogate's Court Procedure Act or is acting as voluntary administrator pursuant to article 13 of the Surrogate's Court Procedure Act, and such estate has not been fully distributed nor a final accounting filed with petition for settlement with the appropriate Surrogate's Court, the estate representative shall annually in the month of January file a report of open estates with the Office of the State Comptroller, covering every open estate in which permanent letters were issued to such representative or in which an affidavit has been filed by such representative pursuant to section 1304 of the Surrogate's Court Procedure Act, on or before the preceding December 31st. The report of open estates shall be prepared on a form prescribed by the Office of the State Comptroller and shall require the name of the estate, the date letters were granted or affidavit filed, the amount of the gross estate, the amount undistributed, reasons why the final distribution of the estate has not been made, the anticipated estate closing date and such additional information as the State Comptroller may deem warranted. If there are no such open estates, a report must, nevertheless, be filed by the public administrator of chief fiscal officer indicating that no estates are open. As used in this Part, the term public administrator shall mean the public administrator of any county in which the office of public administrator exists or any deputy public administrator or other individual who is performing the duties of the public administrator as provided for by law.

(b) Where a chief fiscal officer acting as administrator leaves office, resigns, or is removed from office, a report must be filed by the former administrator within 30 days from the date of leaving office, resignation or removal from office. In the event of the death or incapacity of the administrator, the report must be filed by the legal representative(s), if any, of the former administrator within 60 days of the appointment of such representative. A copy of any such report must also be filed with the successor in office to the chief fiscal officer. If there are no open estates, a report must, nevertheless, be filed by the legal representative(s), if any, of the former chief fiscal officer indicating that no estates are open.

(c) Failure to timely file any report provided for herein will be considered by the Comptroller as grounds for petitioning the surrogate of the county having jurisdiction, praying for a judicial settlement of the accounts of any such public administrator or chief fiscal officer of a county, pursuant to the provisions of section 8(11) of the State Finance Law.

(d) The periods set forth in subdivisions (a) and (b) of this section are not intended to set a standard time for completion of estate administration, but rather to fix the times within which the Comptroller is to be informed of the status of open estates and to fix a period after which the Comptroller may inquire.

(e) This section shall not limit the power of the appropriate Surrogate's Court to direct an accounting at any time on its own initiative or on petition pursuant to section 2205 of the Surrogate's Court Procedure Act.

(f) No open estate shall be excluded from the applicability of the provisions of this section by virtue of the fact that permanent letters of administration were issued to the public administrator or chief fiscal officer acting as administrator prior to the effective date of this regulation.

Part 72 REPORT OF OPEN ESTATES ADMINISTERED BY PUBLIC ADMINISTRATORS OF THE COUNTIES WITHIN THE CITY OF NEW YORK

2 CRR-NY 72.1 Report of open estates administered by public administrators of the counties within the City of New York {#sec-2-crr-ny-72.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 72.1}

(a) As used in this Part, the term public administrator shall mean the public administrator of any county in which the office of public administrator exists or any deputy public administrator or other individual who is performing the duties of the public administrator as provided for by law.

(b) Whenever the estate of a decedent is being administered by a public administrator pursuant to article 11 of the Surrogate's Court Procedure Act, and such estate has not been fully distributed nor a final accounting filed with petition for settlement with the appropriate Surrogate's Court, the public administrator shall annually in the month of January file a Report of Open Estates with the office of the State Comptroller, covering every open estate in respect to which permanent letters of administration were issued to such public administrator on or before the preceding December 31st. The Report of Open Estates shall be submitted on a form prescribed by the State Comptroller and shall include the name of the estate; the date letters were granted; the amount of the gross estate; the amount undistributed; reasons why final distribution of the estate has not been made; the anticipated estate closing date and such additional information as the State Comptroller may deem warranted. If there are no such open estates, a report must be filed by the public administrator indicating that no estates are open.

(c) The State Comptroller may consider failure to timely file any report provided for herein as grounds for petitioning the Surrogate of the county having jurisdiction, praying for a judicial settlement of the accounts of any such public administrator, pursuant to the provisions of section 8(11) of the State Finance Law.

(d) The periods set forth in subdivision (b) of this section are not intended to set a standard time for completion of estate administration, but rather to fix the times within which the State Comptroller is to be informed of the status of open estates.

(e) This section shall not limit the power of the Surrogate's Court to direct an accounting at any time on its own initiative or on petition pursuant to section 2205 of the Surrogate's Court Procedure Act.

(f) No open estate shall be excluded from the applicability of the provisions of this section by virtue of the fact that permanent letters of administration were issued to the public administrator prior to the effective date of this regulation.

Subchapter F DUTIES OF JUSTICES OF THE PEACE AND POLICE JUSTICES

Part 75 DUTIES OF JUSTICES OF THE PEACE AND POLICE JUSTICES

2 CRR-NY 75.1 Duties in respect to receipts and disbursements {#sec-2-crr-ny-75.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 75.1}

The memorandum of the receipt or disbursement of moneys by a police justice of a village or by a justice of the peace of a town, required by the said statutes in lieu of the issue of a receipt for moneys paid to such a justice or in lieu of the taking of a receipt for moneys disbursed by such a justice, shall be an entry upon the page or pages of the docket upon which are recorded matters in respect to the action or proceeding in relation to which the moneys were received or disbursed, and shall set forth:

(a) The date of the receipt or disbursement,

(b) The amount received or disbursed,

(c) The name of the person from whom the money was received or to whom the money was paid, and

(d) A brief statement of the purpose for which the money was paid to or disbursed by the justice.

2 CRR-NY 75.2 Effective date {#sec-2-crr-ny-75.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 75.2}

This order shall take effect October 1, 1945.

Subchapter G LOCAL TAX BILLS AND RECEIPTS

Part 80 LOCAL TAX BILLS AND RECEIPTS; STATEMENT OF AMOUNT OF LOCAL ASSISTANCE

2 CRR-NY 80.1 Form of statement {#sec-2-crr-ny-80.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 80.1}

The statement of the amount of local assistance to be received from the State, required by such section to appear on certain tax statements and receipts, shall be set forth in the following manner:

(a) Such statement of estimated local assistance may be detailed as to the nature and amount of each type of local assistance, or it may be in the following form:

"The total amount of local assistance estimated to be received from the state of New York by the ______ of ______ during the fiscal year ending ____, 19, is $ __"

(b) Such statement may be printed, stamped or otherwise inscribed on such tax statement and receipt or it may be printed, stamped or otherwise inscribed on an accompanying enclosure which shall be issued with and be deemed a part of such tax statement and receipt.

Subchapter H COMPUTATION OF SPECIAL MUNICIPAL AID

Part 81 PROCEDURES FOR COMPUTATION OF GENERAL PURPOSE STATE AID

2 CRR-NY 81.1 Purpose of regulation {#sec-2-crr-ny-81.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 81.1}

The purpose of this regulation is to prescribe the source documents and methods of calculation to be used by the Office of the State Comptroller in computing the amounts of general purpose State aid for the support of local government for the 1986-87 State fiscal year pursuant to section 54 of the State Finance Law.

2 CRR-NY 81.2 Source documents {#sec-2-crr-ny-81.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 81.2}

Unless the State Comptroller, in the exercise of the discretionary powers granted to him by section 54 of the State Finance Law, determines that more complete and accurate information is available from another source, in which case such more complete and accurate information shall be used, the relevant figures for all computations of general purpose State aid, shall be determined as follows:

(a) Land area.

The source document for land area figures for towns and villages shall be the most recent United States Bureau of the Census publication containing land areas available prior to the 1980 Bureau of the Census series of publications. With respect to villages having a population of less than 1,000 inhabitants, the source document shall be the State Comptroller's 1979 special report on municipal affairs. With respect to towns and villages incorporated on or after January 1, 1981 or disputed land areas, the source document shall be that which is determined by the State Comptroller to contain the most complete and accurate data.

(b) Full value.

The source document for total taxable assessed value in towns and cities for purposes of computing full value shall be the assessment rolls completed in 1979 as submitted to the State Comptroller's office by the State Board of Equalization and Assessment. For towns created on or after January 1, 1981, it shall be the assessment roll used for the first completed local fiscal year following such creation as determined by the State Comptroller. The source document for total taxable assessed value in villages for purposes of computing full value shall be the assessment rolls completed in 1979 as compiled by the Bureau of Research and Statistics in the State Comptroller's office from the appropriate tax limit form. For villages incorporated on or after January 1, 1981, it shall be the assessment roll used for the first completed local fiscal year following such creation as determined by the State Comptroller. The equalization rates to be applied to the total taxable assessed value in determining a full value shall be the rates determined by the State Board of Equalization and Assessment for the assessment roll for the appropriate year.

(c) Local tax effort.

The source document for local tax effort shall be the 1979 annual financial report filed with the State Comptroller's office by each town and village with such adjustments, if any, as may be made by the Bureau of Research and Statistics in the State Comptroller's office in its annual financial report review process. For municipalities incorporated on or after January 1, 1981, the annual financial report of the first completed fiscal year of the respective municipalities shall be used.

(d) Assessed value tax rate.

The source document for assessed value tax rate for each city shall be the constitutional tax limit form filed by the city with the State Comptroller's office for the appropriate year in accordance with the State Finance Law, section 54(7-a)(a)(10).

(e) Population.

(1) The source document for determining reservation and school Indian population shall be the appropriate decennial Federal census prepared by the United States Bureau of the Census as determined by the State Comptroller.

(2) The source document for determining the number of inmates of State institutions under the direction, supervision and control of the State Department of Correctional Services shall be the figure provided by that department.

(3) The source document for determining the number of inmates of State institutions under the direction, supervision and control of the State Department of Mental Hygiene shall be the figure provided by the Office of Mental Retardation and Developmental Disabilities.

(4) The source document for determining the number of inmates of State institutions under the direction, supervision and control of the Division for Youth shall be the figure provided by the Division for Youth.

(5) The populations of military bases located within the area of a town outside village boundaries shall be determined from the best source available to the State Comptroller.

(f) Creation of new municipalities; changes in boundaries.

The source document for estimating population and taxable assessed value for newly created municipalities and municipalities with changes in boundaries shall be the estimates prepared by the appropriate local officials for the year in which the municipality was created or the boundaries changed. In determining a permanent population figure, the State Comptroller shall use the certified decennial census. In determining a permanent taxable full value figure, the State Comptroller shall use the first full value figure derived by applying the first equalization rate established for the municipality to the appropriate assessed valuation as shown on the appropriate constitutional tax limit form filed with the State Comptroller's office.

2 CRR-NY 81.3 Methods of calculation {#sec-2-crr-ny-81.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 81.3}

(a) Base year revenue sharing aid shall be calculated in accordance with the provisions of State Finance Law, section 54(1)(k).

(b) Base year special city, town, village aid shall be calculated in accordance with the provisions of State Finance Law, section 54(1)(1). For the yearly special city, town, village aid payments, the fixed amounts shall be adjusted as a result of changes to data elements on a case-by-case basis where the State Comptroller, in the exercise of his discretionary powers, deems it necessary.

(c) Needs based aid shall be calculated in accordance with the provisions of State Finance Law, section 54(5). The State Comptroller shall estimate zero local revenues for a municipality which has not filed a 1983 annual financial report with his office. For the purpose of calculating fire district revenues for a fire district located in more than one town, the fire district revenues for each town shall be allocated on the basis of the ratio which the taxes levied on real property in that portion of the town located within the fire district bears to the aggregate taxes levied in the fire district.

(d) Excess revenue sharing aid shall be calculated in accordance with the provisions of State Finance Law, section 54(2-a). In the calculation of the total excess revenue sharing aid distribution for towns, the amount of excess revenue sharing aid for the town outside village area shall be added to that of the town-wide calculation. If a negative figure results from this calculation, the municipality will not receive excess revenue sharing aid.

(e) Taxable assessed value for town outside village areas.

(1) The Towns of Green Island, East Rochester, Rye, Harrison, Pelham, Scarsdale and Mount Kisco are contained entirely within the boundaries of one or more villages so no taxable assessed values for town outside village area are determined for such towns.

(2) The taxable assessed value for the town outside village area of the Town of Vernon excludes the taxable assessed value of the area of the town which is located within the City of Sherrill.

(f) Current census population counts for town outside village areas.

(1) The current census population counts for town outside village areas shall be determined by subtracting the adjusted current census population count of the area of a town located within any villages from the adjusted current census population count of the town. The resulting census count shall be adjusted by subtracting the number of persons residing within the boundaries of a military post or reservation under the jurisdiction of the United States located within the town if the number of such persons exceeds 25 percent of the population of the town outside village area.

(2) The Towns of Green Island, East Rochester, Rye, Harrison, Pelham, Scarsdale and Mount Kisco are contained entirely within the boundaries of one or more villages so no current census population counts for the town outside village area shall be determined for such towns.

(3) The current census population count for the town outside village area of the Town of Vernon excludes the population count for the area of the town which is located within the City of Sherrill.

(g) Determination of full value.

(1) Full value per capita for each government unit shall be determined by dividing the full value by the current census population count.

(2) Average full value and personal income per capita for counties shall be determined from data provided by the State Board of Equalization and Assessment and the State Tax Commission as follows:

(i) Divide the sum of the full value of all the counties by the sum of the personal income of all the counties to determine the weighted income factor. This quotient shall be rounded to the sixth decimal place.

(ii) Divide the total personal income of each county by the current census population count to determine the personal income per capita of each county.

(iii) Multiply the personal income per capita of each county by the weighted personal income factor and add this to the full value per capita of each county. Divide this result by two to determine the weighted average of the full value and personal income per capita for the county.

(h) Apportionment and calculation of dissolutionment aid.

(1) The dissolutionment aid shall be apportioned in the following amounts for the years following dissolution:

| Years following the dissolution | Amount of dissolutionment aid | | --- | --- | | 1 | 100% | | 2 | 80% | | 3 | 60% | | 4 | 40% | | 5 | 20% | | 6 and beyond | 0% |

(2) The dissolutionment aid will be calculated by using the amount of base revenue sharing and excess revenue sharing aid for the dissolved municipality less the increase in the amount which will be apportioned to the municipality within which the territory of the dissolved municipality is subsequently located and to whose population and taxable full value the amounts for the dissolved municipality have been added. The dissolutionment payment will be added to and paid with the successor municipality's excess revenue sharing aid payment amount. If the excess revenue sharing program is no longer applicable, the dissolutionment amount will be added to the regular quarterly State revenue sharing payment to such successor municipality.

(i) The formula aid rate for State revenue sharing aid computations shall be determined for each city, town outside village area and village, by subtracting the full value per capita from $19,637, and for each county by subtracting the weighted average of the full value and personal income per capita from $19,637. If the remainder is less than or equal to zero, the base revenue sharing aid rate is the formula aid rate for that aid unit. If the remainder is greater than zero, the formula aid rate for the municipality shall be determined by dividing $245 into the remainder. The quotient shall be rounded up to the next whole number which shall be the increment multiplier. The revenue sharing aid rate increment shall be multiplied by the increment multiplier to compute a revenue sharing aid rate adjustment. The revenue sharing aid rate adjustment shall be added to the base revenue sharing aid rate to determine the formula aid rate.

(j) Formula aid for each aid unit shall be computed by multiplying the formula aid rate of the aid unit by the population count of the aid unit from the current decennial census or a special census if filed in the manner prescribed by State Finance Law, section 54(3).

(k) Additional apportionments for each aid unit shall be determined by subtracting the amount of dissolutionment aid from the total revenue sharing appropriation for the aid unit. The remainder shall be divided by the total formula aid and the quotient reduced by one to determine the additional apportionment multiplier. The formula aid shall be multiplied by the additional apportionment factor and the result, truncated to the nearest penny, shall be the additional apportionment for the aid unit.

(l) Total revenue sharing aid is the sum of the formula aid, the additional apportionment and the dissolutionment aid of each aid unit.

(m) Additional city apportionments shall be determined for each city by first computing the aggregate statewide city population count by adding the population count for each city determined from the current decennial census or the special census, whichever is higher. Each city's population count shall be divided by the aggregate statewide city population count and the ratio so determined multiplied by the additional city appropriation. The result, truncated to the nearest penny, shall be the amount of additional city apportionment for each city.

(n) Creation and dissolutionment of municipalities.

(1) In a town within which a village is created, for the purpose of calculating population and taxable full value of the town outside village area, the certified decennial census population and taxable full value of the area which became the new village as taken from the same town tax roll which was used to calculate the taxable full value for the town outside village area shall be subtracted from the original population and taxable full value figures of the town outside village area.

(2) In a town within which a village is dissolved, for the purpose of calculating population and taxable full value of the town outside village ara, the certified decennial census population and taxable full value for town purposes of the dissolved village shall be added to the original population and taxable full value figures of the town outside village area. The taxable full value of the dissolved village to be added to the taxable full value of the town outside village area shall be determined by the State Comptroller from the best source available.

(3) Special city, town, village aid payments for villages which are dissolving prior to the check distribution date shall be dated and distributed on the 31st of December in the year preceding dissolution.

2 CRR-NY 81.4 [Repealed] {#sec-2-crr-ny-81.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 81.4}

Subchapter I FORMS TO BE USED FOR COMPUTATION OF CONSTITUTIONAL TAX LIMITS

Part 82 FORMS TO BE USED FOR COMPUTATION OF CONSTITUTIONAL TAX LIMITS

2 CRR-NY 82.1 Forms for computation of constitutional tax limits {#sec-2-crr-ny-82.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 82.1}

The forms to be used in the computation of the constitutional tax limits of cities, counties and villages shall be the forms prescribed in this Part.

2 CRR-NY 82.2 Forms for cities having a population of less than 125,000 {#sec-2-crr-ny-82.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 82.2}

The form to be used in the computation of the constitutional tax limit of cities having a population of less than 125,000 inhabitants shall be as follows:

---

Form was amended to change Comptroller's address by adding 110 State Street and the suffix 0001 to the zip code. Form was unavailable at time of publication.

2 CRR-NY 82.3 Form for cities having a population of 125,000 or more {#sec-2-crr-ny-82.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 82.3}

The form to be used in the computation of the constitutional tax limit of cities having a population of 125,000 or more inhabitants shall be as follows:

---

Form was amended to change Comptroller's address by adding 110 State Street and the suffix 0001 to the zip code. Form was unavailable at time of publication.

2 CRR-NY 82.4 Form for counties {#sec-2-crr-ny-82.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 82.4}

The form to be used in the computation of the constitutional tax limit of counties shall be as follows:

---

Form was amended to change Comptroller's address by adding 110 State Street and the suffix 0001 to the zip code. Form was unavailable at time of publication.

2 CRR-NY 82.5 Form for villages {#sec-2-crr-ny-82.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 82.5}

The form to be used in the computation of the constitutional tax limit of villages shall be as follows:

---

Form was amended to change Comptroller's address by adding 110 State Street and the suffix 0001 to the zip code. Form was unavailable at time of publication.

2 CRR-NY 82.6 [Repealed] {#sec-2-crr-ny-82.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 82.6}

Chapter III IMPROVEMENT DISTRICTS AND SEWER, DRAINAGE, AND WATER IMPROVEMENTS

Part 85 APPLICATION FOR PERMISSION OF STATE COMPTROLLER

2 CRR-NY 85.1 Background {#sec-2-crr-ny-85.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 85.1}

(a) The purpose of this Part is to:

(1) set forth the documentation that must be included in applications to the Comptroller for permission to establish, extend or increase the maximum amount to be expended in town or county improvement districts or to authorize or increase the maximum amount to be expended for a town improvement; and

(2) to place the primary responsibility for compliance with the applicable provisions of the Town Law and the County Law with local officials. It is the Comptroller's expectation that, upon receipt of an application which complies with this Part, he will, in all but a very limited number of instances, be able to make prompt determinations of public interest and undue burden, as required by statute, without requiring additional information or documents from the applicant.

(b) While existing procedures used to review applications under the Town Law and the County Law may result in the identification and correction of deficiencies, the Comptroller believes that the administrative burdens and attendant delays imposed on towns and counties by this review may be disproportionate to the protection it provides to the taxpayers. In addition, it is the Comptroller's judgment that the existing procedures are no longer a wise use of the limited resources available to the Comptroller's Office. Therefore, these regulations are intended to establish streamlined procedures for the performance of the statutorily required approval function.

(c) The procedures contained in this Part are intended to eliminate the need for a detailed review by the Comptroller's Office of all proceedings underlying a matter requiring the Comptroller's permission and, instead, place the primary responsibility for compliance with the Town Law and the County Law with local officials. To this end, the regulations require the town or county's legal counsel to provide an opinion that the town or county has undertaken all necessary proceedings in the manner required by statute. In addition, the town or county must submit a verified statement detailing the nature of the proposed improvements, the need for such improvements, and the information necessary to calculate the cost of the proposed improvements to the properties which will be required to pay for them.

2 CRR-NY 85.2 Definitions {#sec-2-crr-ny-85.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 85.2}

As used in this Part, the following terms shall have the following meanings:

(a) Application shall mean any application for permission of the State Comptroller.

(b) Permission of the State Comptroller shall mean the consent, permission or approval of the State Comptroller required pursuant to any of the following statutes: County Law, sections 258, 268, 269, 280-i, 280-t, 299-o and 299-r; Town Law, sections 54, 194, 202-d, 202-e, 209-f, 209-h and 209-q.

(c) Typical property shall mean the assessed value that approximates the assessed value of a majority or mode of the properties situated in the area that will be required to finance the cost of the proposed improvements.

(d) Typical one- or two-family home shall mean the assessed value that approximates the assessed value of a majority or mode of the one- or two-family dwellings situated in the area that will be required to finance the cost of the proposed improvements.

(e) Verified shall mean an application which contains a verification in substantially the following form:

VERIFICATION

STATE OF NEW YORK )

COUNTY OF____) SS.:

__, being duly sworn, deposes and says that (s)he is the __ of the __, the corporation named in the within entitled action; that (s)he has read the foregoing application and knows the contents thereof; and that the same is true to (her) his own knowledge, except as to the matters therein stated to be alleged upon information and belief, and as to those matters (s)he believes it to be true.

Sworn to before me this

day of , 19

2 CRR-NY 85.3 Authority for submitting application {#sec-2-crr-ny-85.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 85.3}

(a) An application for permission of the State Comptroller shall set forth the statute pursuant to which the application is being made and contain such other information as is required by section 85.4 of this Part. Such information may either be included as a statement in the application or attached as an exhibit thereto. The application shall be executed and verified by the supervisor if an application is made pursuant to the Town Law, the chairman of the board of supervisors if an application is made pursuant to the County Law or such other officer as the governing board of the town or county shall designate. Any application under Town Law, sections 194 and 209-f, including all exhibits thereto, shall be submitted in duplicate.

(b) All applications for permission of the State Comptroller shall be accompanied by:

(1) a certified copy of a resolution of the governing board stating that the attached application was prepared at the direction of the governing board; that the board believes the contents of the application to be accurate; that the Board has determined that the improvement, district, extension or expenditure for which permission is sought is in the public interest and will not constitute an undue burden on the property which will bear the cost thereof; and if the cost of the proposed improvements is to be assessed in whole or in part against a benefited area, that all real property to be so assessed will be benefited by the proposed improvements and that no benefited property has been excluded; and

(2) one or more opinions of legal counsel that comply with the requirements of section 88.5 of this Part.

2 CRR-NY 85.4 Information required in application {#sec-2-crr-ny-85.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 85.4}

An application for permission of the State Comptroller shall contain the following:

(a) all documents and information required to be included by the provisions of the Town Law or the County Law pursuant to which the application is being made;

(b) a description of the proposed improvements;

(c) a statement setting forth the maximum cost of the proposed improvements. If an application is for the approval of an increase of maximum amount, a statement of the original maximum amount, the amount of the increase, and the circumstances which have made the increase necessary;

(d) a statement explaining the factors which the governing board considered in making its determination that the proposed improvements are in the public interest. These factors should demonstrate a basis for the board's determinations that the proposed improvements are necessary, convenient or desirable and, if the cost of the improvements is to be assessed in whole or part against benefited property, that all property upon which the assessments are to be imposed will be benefited by the improvements and that no benefited property has been excluded;

(e) a statement describing the proposed manner of financing the cost of the improvements. This statement shall set forth:

(1) the anticipated amount, type, term, and interest rate of the proposed town or county indebtedness, together with a statement that the proposed financing is reasonable under current market conditions or is being made available under a State or Federal loan program; and

(2) a description of the amount and type of State or Federal aid, if any, together with written documentation from the appropriate State or Federal agency confirming that such aid has been committed. If the town or county's determination that the proposed financing is reasonable is based on the opinion of the town or county's financial advisor, a copy of such opinion should accompany the application;

(f) an estimate of the cost of operating and maintaining the proposed improvements, including the basis or source of such estimate;

(g) a statement detailing the manner in which it is proposed to raise the costs of debt service and operation and maintenance. If assessments are to be made on a benefit basis, a description of the proposed benefit formula must be included. If user charges are to be imposed in connection with the improvements, an estimate of the amount of such charges and the basis on which they are to be computed;

(h) if an application is for permission to establish or extend a district or for an increase in the maximum amount to be expended in a district or an extension, a statement of the aggregate assessed valuation of the taxable real property in the proposed district or extension, as shown on the latest completed assessment roll;

(i) if an application is for permission to provide an improvement under section 54 or 209-q of the Town Law or to increase the maximum amount to be expended for such an improvement:

(1) if all or part of the cost is to be assessed against a benefited area, a statement of the aggregate assessed valuation of the taxable real property in the proposed benefited area, as shown on the latest completed assessment roll of the town; or

(2) if all or part of the cost is to be assessed against the area of the town outside of any villages, a statement of the aggregate assessed valuation of the taxable real property in that area, as shown on the latest completed assessment roll of the town;

(j) if an application is made pursuant to section 258, 268, 269, 280-i, 280-t, 299-o or 299-r of the County Law and it is proposed to establish two or more zones of assessment within a county district, a statement of the allocation of costs of the proposed improvements between the zones of assessment and the factors the governing board considered in making such allocation;

(k) a statement of the average full valuation of the taxable real property of the town or county making the application computed pursuant to the first paragraph of subdivision seven-a of section 2.00 of the Local Finance Law;

(l) an itemized statement of the outstanding, and authorized but unissued, indebtedness as of the date of the application for all town purposes, if the applicant is a town, and for all county purposes, if the applicant is a county;

(m) a statement of all appropriations made during the current fiscal year for repayment of debt principal, the amount of any State or Federal aid available for the payment of debt principal, and the amount of all debt which is excludable for purposes of computing the town or county's debt limit under article VIII of the New York State Constitution;

(n) In lieu of the statements required by subdivisions l and m, the town or county may submit a debt statement prepared, as of the date of the Application, in the manner prescribed in title 10 of article 2 of the Local Finance Law.

(o) the current tax rates and asessments applicable to the taxable real property which will bear the cost of the proposed improvement itemized for:

(1) county;

(2) town, including highway;

(3) school;

(4) fire;

(5) any other purpose, with each such purpose being listed individually.

Ad valorem rates should be separately listed per $1,000 of assessed valuation. In the case of benefit assessments, the estimated cost to a typical property should be included;

(p) a statement of the assessed value of a typical property;

(q) a statement setting forth the amount that it is estimated that the owner of a typical property and, if different, a typical one- or two-family home will be required to pay in the first year following approval of the application, if granted, for debt service, operation and maintenance and other charges, such as user charges or hook-up fees, related to the proposed improvements, together with an explanation of how such costs have been computed;

(r) a statement setting forth the maximum amount any real property owner will be required to pay in the first year following approval of an application, if granted, for debt service, operation and maintenance and other charges related to the proposed improvements, together with an explanation of how such costs have been computed;

(s) a statement whether the area which will bear the cost of the proposed improvements contains state lands and, if so, the identity of the State lands and the costs which will be borne by such property in the first year following approval of the application, if granted;

(t) a statement whether the area which will bear the cost of the proposed improvements is wholly or partially within an existing or proposed agricultural district, and if so, how the assessment base for the proposed improvement will be affected thereby;

(u) a statement of the population of the area which will bear the cost of the improvements, the number of one- and two-family homes located in the area, the assessed value of the typical one- or two-family home, and a description of any nonresidential areas, including the total assessed value thereof;

(v) if the proposed district, extension or improvement will benefit vacant land, a statement describing the status of any proposals for the development of such land. If the governing board's determination that the cost of the proposed improvement will not constitute an undue burden on the area which will bear the cost of those improvements is dependent, in whole or in part, on the development of vacant land, a statement of the type of security to be obtained by the governing board to ensure that the cost will not be an undue burden or the factors on which the governing board relied in determining that such security is unnecessary;

(w) if it is contemplated that service will be sold to users outside the proposed district, extension or area benefited by an improvement, a statement of the anticipated price to be charged and the amount of revenue expected to be generated in the first year following approval of the application, if granted;

(x) a copy of any and all orders issued by a State or Federal agency or court relating to the proposed district, extension, improvement or expenditure, together with a statement describing any pending judicial or administrative proceedings which relate to the proposed improvements;

(y) a statement of what actions, if any, the governing board has taken, other than those required by the applicable provisions of the Town Law or County Law, to apprise the owners of the properties which will bear the cost of the proposed improvements of that cost, including the estimated first year cost; and

(z) a statement whether the town or county has received any written objections from the owners of the real property that will bear the cost of the improvements expressing opposition to undertaking the improvements, and if so, the nature and extent of such opposition.

2 CRR-NY 85.5 Opinion of legal counsel {#sec-2-crr-ny-85.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 85.5}

The legal opinion(s) required by section 85.3(b) of this Part shall be addressed to the town or county, expressly provide that the State Comptroller may rely thereon, and contain the following:

(a) A statement that, in his or her capacity as legal counsel for the town or county, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to:

(1) the Constitution of the State and relevant statutes, including but not limited to, the statute pursuant to which the application is made and the State Environmental Quality Review Act;

(2) any petitions for the establishment or extension of a district or provision of an improvement;

(3) all orders and resolutions of the governing board pertaining to such application;

(4) proof of any posting and publication of required notice;

(5) any petitions requesting a referendum;

(6) any certificate stating that no petition requesting a referendum was received or certifying the result of the vote on the proposition submitted at a referendum;

(7) any map or plan required by statute;

(8) any proposed contracts or agreements referred to in the application; and

(9) the application to be submitted to this ofice; and

(b) An expression of his or her opinion that:

(1) the application to this ofice contains all information required by the applicable statutes and regulations;

(2) the town or county, in relation to the district, extension, improvement, expenditure or increase in maximum for which the permission or consent of the Comptroller is sought, has undertaken all actions and proceedings required by applicable provisions of law. The opinion may contain appropriate qualifications so long as the attorney expresses his or her opinion that there was no substantial or material deviation from the applicable statutes;

(3) such district, extension, improvement, expenditure or increase in maximum has been duly authorized by the town or county as required by statute except for:

(i) obtaining the permission or consent of the Comptroller;

(ii) the adoption of any order or resolution required to be adopted after the Comptroller has granted such consent or permission; and

(iii) any publication of any notice required to be published after receipt of such consent or permission;

(4) town or county officials, as the case may be, are not aware of any material pending or threatened lawsuits or claims relating to the district, extension, improvement, expenditure or increase in maximum for which permission or consent is being sought; and

(5) any assessments, charges on taxes to be levied or imposed to finance the improvements or services to be provided are authorized by statute and all necessary action has been taken by the municipality to authorize the imposition or levy of such assessments, charges or taxes.

2 CRR-NY 85.6 Amending fee application {#sec-2-crr-ny-85.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 85.6}

The town or county, on its own initiative or at the request of the Comptroller, may provide any additional information which will assist the Comptroller in making determinations of public interest and undue burden.

2 CRR-NY 85.7 Final order of the Comptroller {#sec-2-crr-ny-85.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 85.7}

Upon receipt of an application for permission of the State Comptroller that complies with the requirements of sections 85.3, 85.4, 85.5 and 85.6 of this Part, the Comptroller, after reviewing the same, shall make his final determination and make an order, in duplicate, granting or denying the permission sought.

2 CRR-NY 85.8 [Repealed] {#sec-2-crr-ny-85.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 85.8}

Chapter IV MISCELLANEOUS RULES

Part 100 BONDS, NOTES AND OTHER OBLIGATIONS ISSUED BY THE STATE

2 CRR-NY 100.1 State fiscal agent {#sec-2-crr-ny-100.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.1}

The State Comptroller, on behalf of the State, shall contract with one or more banks or trust companies having an office located in the City of New York, to act as fiscal agent of the State. The State fiscal agent shall maintain an office for the registration, conversion, reconversion and transfer of the bonds, notes and other obligations of the State, including the preparation and substitution of new bonds, notes and other obligations, for the payment of the principal thereof and interest thereon, and for related services. This office shall be open for business during regular banking hours.

2 CRR-NY 100.2 New issues of State bonds and notes {#sec-2-crr-ny-100.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.2}

(a) Payment of purchase price.

Successful bidders for new issues of bonds and notes of the State shall make payment of the unpaid balance of the purchase price to the State or its fiscal agent by check, draft, electronic transfer of Federal funds check as determined by the State and the successful bidder. Payment for bonds shall be in clearinghouse funds or immediately available funds. Payment for notes shall be made in immediately available funds. Checks and drafts shall be certified and drawn upon a bank or trust company in the City of Albany or in the City of New York, and shall be payable to the order of the “Comptroller of the State of New York.”

(b) Bonds.

The State fiscal agent will deliver bonds (in registered form) of a new State issue to each registered owner, which may be a securities depository or its nominee, of such bonds, upon payment in full of the purchase price thereof.

(c) Notes.

The State fiscal agent or issuing paying and tender agent, will deliver notes of a new State issue in registered form where the maturity is one year or greater, to each registered owner, which may be a securities depository or its nominee, of such notes, upon payment in full of the purchase price thereof. When the maturity of a new State issue is less than one year, the State fiscal agent or issuing paying and tender agent may deliver such notes in registered form or bearer form.

2 CRR-NY 100.3 Conversion and reconversion {#sec-2-crr-ny-100.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.3}

(a) Conversion of coupon bonds.

The holder of a coupon bond may present and surrender such bond to the State fiscal agent with a written request for its conversion into a fully registered bond. Such written request shall set forth the full legal name and address of the person to be named as the registered owner. The State fiscal agent shall thereupon countersign and deliver a new bond in registered form to the registered owner or, at the request of the registered owner, to a securities depository or its nominee.

(b) Reconversion of registered bonds.

If the applicable notice of sale of an issue of bonds, issued prior to June 30, 1983, shall have so provided, or when authorized by the Comptroller, the registered holder, or his legal representatives of a bond which shall have been converted into a registered bond pursuant to subdivision (a) of this section, may present and surrender such bond to the State fiscal agent with a written request for its reconversion into a coupon bond, which request shall be duly acknowledged, or proved, or in the alternative the signature of the person making such request shall be certified as to its genuineness by an officer of a bank, trust company, savings bank, savings and loan association or federally or State-chartered credit union located and authorized to do business in the State of New York. There shall be tendered with such request an amount sufficient to cover the expense of preparing, issuing and delivering a new bond in accordance with such request, which amount shall be determined by the State fiscal agent. The State fiscal agent shall thereupon countersign and deliver a new bond in coupon form, which shall have endorsed thereon the following statement, “This bond has been reconverted and reissued on the _ day of __, 20 _.” If the applicable notice of sale of an issue of bonds shall have so provided, or when authorized by the Comptroller, any bond reconverted into coupon form pursuant to this subdivision may again and from time to time be converted into a registered bond and reconverted into a coupon bond in the manner provided in this section upon payment in each case to the State fiscal agent of an amount determined by the State fiscal agent to be sufficient to cover the expense of preparing, issuing and delivering the new bond.

2 CRR-NY 100.4 Transfers {#sec-2-crr-ny-100.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.4}

(a) All registered bonds, notes and other obligations of the State presented for transfer shall be presented to the State fiscal agent and shall be duly dated and assigned by or on behalf of the registered owner thereof. Unless the signature of the assignor is on file with the State fiscal agent, the signature of the person requesting such assignment shall be guaranteed by a bank, trust company, savings bank, savings and loan association, or federally or State-chartered credit union located and authorized to do business in the State of New York, or guaranteed by a member firm of the New York Stock Exchange. The full legal name and address of the transferee must also be supplied. Three days (excluding Saturdays, Sundays and holidays) will usually be required to complete the transfer. For every transfer, the State fiscal agent may make a charge sufficient to reimburse it for any tax, fee or other governmental charge required to be paid with respect to such transfer, which sum shall be paid by the person requesting the transfer as a condition precedent to the exercise of the privilege of making such transfer. The cost of preparing each new bond upon each transfer shall be paid by the State.

(b) In addition to the foregoing, the following specific requirements should be fulfilled. (Although these requirements are set forth for the information and guidance of holders of State obligations, it should be recognized that additional requirements may be imposed by the State fiscal agent in any case, depending on the particular circumstances involved.)

(1) Agents or attorneys. No transfers of bonds will be made into the name of an individual, as agent or attorney. When bonds are presented for transfer and the assignment is executed by an agent or attorney of the registered owner, such assignment shall be by the agent or attorney in his representative capacity and there shall be submitted either the original power of attorney or a copy thereof certified under recent date (not more than 60 days). If the power of attorney has been filed as a public record, the official recorder shall make such certification, otherwise the certification shall be by:

(i) a bank, trust company, savings banks, savings and loan association, or federally or State-chartered credit union located and authorized to do business in the State of New York, the official signatures of which can be verified in New York City;

(ii) a member firm of the New York Stock Exchange; or

(iii) such other guarantors as shall be acceptable to the State fiscal agent.

The full power of attorney (rather than an extract therefrom) should be submitted and proof given that the power of attorney has not been revoked by death or incompetency of the grantor, or a guaranty that the grantor is alive and competent shall be supplied.

(2) Committee for an incompetent. On transfers of bonds registered in the name of the committee for an incompetent person, there shall be submitted:

(i) copy of appointment of the committee, certified under a recent date (not more than 60 days); and

(ii) copy of court order authorizing the disposition of the bonds, certified under a recent date (not more than 60 days).

The full court order (rather than an extract therefrom) shall be submitted. On transfers into such a registration, there shall be submitted a copy of appointment of the committee, certified under a recent date (not more than 60 days).

(3) Guardians. On transfers of bonds into or out of the name of a guardian, there shall be submitted:

(i) letters of guardianship certified under a recent date (not more than 60 days); and

(ii) copy of court order, certified under a recent date (not more than 60 days).

The full court order (rather than an extract therefrom) shall be submitted. If the transfer is from a guardian to his ward, evidence of termination of guardianship shall also be submitted.

(4) Estates of deceased persons.

(i) On transfers of bonds in which the estate of a deceased person is involved, it is suggested that the representative of the estate supply full particulars of the transfer desired to the State fiscal agent, and request it to furnish information as to what supporting papers will be required to effect the desired transfer.

(ii) On transfers out of the name of a decedent or out of the name of an executor, if the decedent died testate, the usual requirements are:

(a) certified copy of will;

(b) copy of appointment of the executor, certified under a recent date (not more than 60 days);

(c) New York State tax waiver;

(d) unless the disposition is authorized by the will, a complete copy (not an extract) of a court order granting such authority shall be supplied, certified under a recent date (not more than 60 days); and

(e) unless the appointment of the executor indicates that the will has been admitted to probate in a state of the United States, a Federal tax waiver (release of lien) shall also be supplied.

If the decedent died intestate the requirements are usually similar to those imposed when the decedent died testate, as described in clauses (c), (d) and (e) of this subparagraph. In addition, a copy of the appointment of the administrator, certified under a recent date (not more than 60 days), shall be supplied. Additional requirements may be imposed in many cases.

(iii) On transfers of bonds into the name of an executor resulting from purchases by such executor, a certified copy of the will and a copy of appointment of the executor, certified under recent date (not more than 60 days), shall be supplied.

(5) Trusts.

(i) On transfers of bonds into the name of a trustee, a certified copy of the will or other trust instrument must be submitted. Such certified copy will be returned if a plain copy is also submitted for retention by the State fiscal agent. The certification shall be made by:

(a) a court;

(b) a bank, trust company, savings banks, savings and loan association, or federally or State-chartered credit union located and authorized to do business in the State of New York;

(c) a member firm of the New York Stock Exchange; and

(d) such other person as shall be acceptable to the State fiscal agent.

On testamentary trusts evidence of the appointment of the trustee, certified under a recent date (not more than 60 days), shall be submitted in addition.

(ii) On transfers of bonds out of the name of a trustee, there shall be submitted certified and plain copies of the will or other trust instrument (unless theretofore filed), the certified copy being returnable. In addition, if a testamentary trust is involved, evidence of the appointment of the trustee, certified under a recent date (not more than 60 days), shall be submitted. If there are two or more trustees all must execute the assignment, unless the trust instrument provides otherwise.

(6) Corporations.

On transfers of bonds registered in the name of a corporation, the bonds shall be assigned by the corporation acting through its duly authorized officer. There shall be submitted a certified copy of a resolution of the corporation's board of directors (adopted at a regularly called meeting at which a quorum of the directors was present and voting throughout, and so certified), or a certified copy of bylaws, granting signatory powers to the officer who executed the assignment and authorizing the sale, assignment and delivery of the securities. The resolution shall be certified as in full force and effect at the date of the certificate, which shall bear the imprint of the corporation's seal, or if it has no seal, the resolution must state that fact in lieu of a seal. The officer signing such certificate shall not be the same as the one executing the assignment. If the resolution designates signing officers by title, there shall also be submitted a certificate of the election and incumbency of the signing officer.

(7) Partnerships. On transfers of bonds out of the name of a partnership, the assignment shall be executed in the firm name by one of the partners or by an authorized agent of the partnership.

(8) No change in ownership. An appropriate endorsement must be supplied on transfers of bonds involving a change of name but no change in ownership. In addition, an instrument shall be furnished setting forth the particulars of the change of name of the registered owner and guaranteeing to save the State and the State fiscal agent harmless from any loss or damage which may arise by reason of making the transfer requested. This instrument shall be executed by:

(i) a bank, trust company, savings banks, savings and loan association, or federally or State-chartered credit union located and authorized to do business in the State of New York;

(ii) a member firm of the New York Stock Exchange; or

(iii) such other person as shall be acceptable to the State fiscal agent.

If the change of name was authorized in court proceedings, a certified copy of the full court order (not an extract therefrom) shall be submitted. Certified copies of agreements of merger, consolidation, certificates of change of corporate name, etc., shall be submitted, if involved.

(9) General. Additional transfer requirements may be imposed by the State fiscal agent in any case, whether or not of the foregoing types, depending on the particular circumstances involved.

2 CRR-NY 100.5 Payment of interest {#sec-2-crr-ny-100.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.5}

(a) Interest on coupon bonds.

Interest on State coupon bonds will be paid in clearing house funds from monies supplied by the State for that purpose upon surrender of the appropriate coupons on or after the due date thereof to the State fiscal agent.

(b) Interest on registered bonds: closing of transfer books.

Interest due on registered bonds will be paid in clearinghouse funds or immediately available funds from monies supplied by the State. Interest will be paid (1) by check mailed at the close of the business day next preceding the interest due date to or on the order of the registered owner whose name and address appear on the registration books of the State fiscal agent, or issuing, paying and tender agent on the record date, or (2) by electronic transfer in immediately available funds to a securities depository. The State fiscal agent or issuing, paying and tender agent may offer electronic transfer for interest payments. The record date with respect to each payment of interest shall be 15 days prior to such interest payment date. Orders for the payment of interest on registered bonds to a person other than the registered owner thereof must be filed with the State fiscal agent or issuing, paying and tender agent. Such orders shall be signed by or on behalf of the registered owner, and the signature shall be guaranteed by:

(1) a bank, trust company, savings banks, savings and loan association, or federally or State-chartered credit union located and authorized to do business in the State of New York,

(2) a member firm of the New York Stock Exchange; or

(3) such other guarantor as shall be acceptable to the State fiscal agent.

The transfer books with respect to any issue of State bonds may be closed by the State fiscal agent, in its discretion, for a period not exceeding 30 days next preceding the interest due date on such issue.

(c) Interest on notes.

Interest due on State notes is payable in immediately available funds at maturity concurrently with payment of the principal thereof, upon surrender of the notes in accordance with section 100.6 of this Part.

2 CRR-NY 100.6 Payment of principal—redemption {#sec-2-crr-ny-100.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.6}

(a) Payment of principal.

The State fiscal agent or issuing, paying and tender agent will pay all bonds and notes in clearinghouse funds or in immediately available funds, presented to the State fiscal agent or issuing, paying and tender agent for payment at or after maturity, upon surrender thereof accompanied by the duly completed form called for by subdivision (c) of this section.

(b) Redemption.

The State fiscal agent or issuing, paying and tender agent will pay all bonds and notes in clearinghouse funds or in immediately available funds, which shall have been called for redemption and are presented to the State fiscal agent or issuing, paying and tender agent for payment at or after the date of redemption, upon surrender thereof together with all appurtenant unmatured coupons, accompanied by the duly completed form called for by subdivision (c) of this section.

(c) Information to be supplied on surrender of State obligations for payment.

When State bonds or notes are surrendered to the State fiscal agent or issuing, paying and tender agent for payment (whether on redemption or otherwise) the holder will be required to furnish such information (on forms supplied for the purpose) as shall be required by the State fiscal agent or issuing, paying and tender agent.

2 CRR-NY 100.7 Replacement of bonds and certificates lost or casually destroyed {#sec-2-crr-ny-100.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.7}

Lost or destroyed bonds and certificates. The State fiscal agent will deliver, at the expense of the applicant, new bonds or certificates of the State to replace bonds or certificates of the State which the State fiscal agent, upon due proof is satisfied have been lost or casually destroyed. Each new bond or certificate shall correspond in date, number and amount, with the bond or certificate so lost or destroyed and shall express on its face that it is a renewed bond or certificate. (Persons seeking information under this section, including security requirements, should submit full details to the State fiscal agent.)

2 CRR-NY 100.8 Replacement of mutilated bonds, notes and certificates {#sec-2-crr-ny-100.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.8}

(a) Mutilated bonds, notes and certificates.

The State fiscal agent will deliver a new bond, note or certificate of the State to replace a bond, note or certificate of the State which has been mutilated, but not destroyed, provided all the principal and essential parts of such mutilated bond, note or certificate are presented to the State fiscal agent, and that the bond, note or certificate can readily be identified from the parts so presented.

(b) Forms to be used in replacements.

Where the State fiscal agent has in its possession a bond, note or certificate form of the same issue, dating, interest rate, amount and maturity as that of the mutilated bond, note or certificate, it shall use such form in making the replacement pursuant to this section. Where such a form no longer is available, the necessary form or forms shall be engraved and printed, under such supervision as the Comptroller shall prescribe, provided the person requesting replacement under this section undertakes to pay the expense of such engraving and printing.

(c) Corresponding date, interest rate, etc.

A replacement bond, note or certificate issued pursuant to this section shall correspond as to date, interest rate, amount, number of coupons, if any, and maturity with that of the mutilated bond, note or certificate which it replaces.

(d) Application of marking and security requirements of law.

The marking and security requirements of section 62 of the State Finance Law shall not be applied to replacements of mutilated bonds, notes or certificates made pursuant to this section.

2 CRR-NY 100.9 Private sale of State bonds {#sec-2-crr-ny-100.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.9}

(a) Selection of underwriters.

When the Comptroller has determined that the interests of the State will be served by a private sale of bonds:

(1) he may select underwriters for a bond sale conducted pursuant to article 5 of the State Finance Law through a request for proposal process; or

(2) he may directly negotiate a sale of State bonds to a public benefit corporation or public authority, the majority of the members of which are appointed by the Governor. With respect to each such sale, except sales to public benefit corporations or public authorities, the majority of the members of which are appointed by the Governor, requests shall be sent to at least 10 firms that have, in the Comptroller's judgment, sufficient expertise and experience in the sale of obligations of the State of New York or other similar issuers to underwrite efficaciously a private sale of State bonds.

(b) Criteria for selection.

The Comptroller's selection of the underwriters involved in any private State bond sale pursuant to paragraph (a)(1) of this section shall take into account, but not be limited to, the following factors:

(1) the cost to the State of issuance, including the ability of the candidate firms to market the bonds at competitive interest rates;

(2) the experience and ability of the firms under consideration to structure the sale and market the bonds;

(3) the experience and ability of the individuals whom the firms plan to involve directly in the sale; and

(4) the soundness of the firms' overall marketing plans.

(c) Contents of request for proposal.

A request for proposal prepared for candidate firms pursuant to paragraph (a)(1) of this section shall request information from the firms that will enable the Comptroller to evaluate the firms in light of the factors set forth in subdivision (b) of this section, and, if the Comptroller is considering selling the bonds at a discount or at a premium, shall set forth the relevant restrictions on maximum premiums and discounts contained in sections 57 and 60 of the State Finance Law. The Comptroller may also include in such a request any other restrictions and other matters he deems relevant. A copy of relevant portions of section 56 of the State Finance Law in the case of refunding bonds, section 57 of the State Finance Law in the case of all other bonds, and section 60 of said law, where relevant, shall be appended to any request for proposals prepared pursuant to this section.

(d) In accordance with sections 57 and 60 of the State Finance Law, the Comptroller shall give notice to the Governor, the Temporary President of the Senate and the Speaker of the Assembly of his intention to conduct a private sale of obligations pursuant to those sections not less than five days prior to the execution of a purchase contract. The Comptroller may effect a sale to the selected underwriters upon receipt of a final offer to purchase the bonds from such underwriters pursuant to an executed purchase contract.

2 CRR-NY 100.10 General {#sec-2-crr-ny-100.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.10}

(a) Where Opinions of the Attorney General, with respect to the validity and legality of new issues of bonds and notes of the State are not printed on the bonds or notes, photostatic copies may be obtained by the purchasers of such issues from the State fiscal agent.

(b) Denominations.

Reconversion of registered bonds (only for bonds originally issued prior to June 30, 1983) to coupon bonds and temporary receipts therefor shall be issued only in the denomination of $1,000 and/or $5,000 at the discretion of the Comptroller. Registered bonds shall be issued only in fully registered form in such denomination or denominations as the Comptroller shall determine. Upon the presentation and surrender of registered bonds of one denomination, the State fiscal agent shall deliver an equal principal amount of registered bonds of other authorized denominations registered in the name of the registered owner of the bonds surrendered. Notes with a maturity of less than one year may be issued either in registered form or in bearer form, without coupons, in such denomination or denominations as the Comptroller may determine.

(c) Window ticket receipts.

Upon the presentation of temporary receipts, bonds, notes or other obligations of the State for exchange, conversion, transfer or payment, the State fiscal agent may issue window ticket receipts therefor. Such receipts, properly signed, must be returned to the bank upon the delivery of the temporary receipts, bonds, notes, checks or other obligations resulting from such exchange, conversion, transfer, or payment.

(d) Federal regulations.

In any transaction under any sections of this Part which involves or is affected by the Trading with the Enemy Act, Executive Order No. 8389 as amended, or any other law of the United States or any regulation or executive order issued thereunder, in addition to all other requirements provided by this Part, there must be lodged with the State fiscal agent an original license (or photostatic copy thereof) issued by the Treasury Department, by a Federal Reserve Bank on its behalf, or by other duly authorized public officials, authorizing the carrying out of such transactions. In the event that a license shall have been submitted in connection with the payment of interest on State obligations, attention is called to the fact that it may be necessary to submit renewal licenses (or photostatic copies thereof) covering payments to be made after the expiration date of the original license.

2 CRR-NY 100.11 Amendments {#sec-2-crr-ny-100.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 100.11}

These rules and regulations may be amended or revised by the Comptroller at any time and from time to time.

Part 101 SALE OF LOST PROPERTY DEPOSITED WITH STATE POLICE

2 CRR-NY 101.1 Property to be sold {#sec-2-crr-ny-101.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 101.1}

All personal property delivered into the custody of the Division of State Police pursuant to article 7-B of the Personal Property Law and remaining therein unclaimed for the following waiting periods:

(a) Articles valued at $500 or less—six months.

(b) Articles valued at more than $500 but less than $5,000—one year.

(c) Articles valued at more than $5,000—three years.

The term personal property shall not be deemed to include currency, negotiable instruments, documents constituting written evidence or ownership of debt, perishable property or worthless property.

2 CRR-NY 101.2 Time of sale {#sec-2-crr-ny-101.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 101.2}

As soon as practicable after the expiration of the 10 days which immediately succeed the termination of the applicable waiting period.

2 CRR-NY 101.3 Manner of sale {#sec-2-crr-ny-101.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 101.3}

Such sale shall be effected by public auction held in the following manner:

(a) Subject to the provisions of section 101.2 of this Part, at such day, time and place as shall be determined by the Superintendent of State Police.

(b) By a member of the Division of State Police, or in the discretion of such superintendent, by an auctioneer qualified as such in accordance with law.

2 CRR-NY 101.4 Publication {#sec-2-crr-ny-101.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 101.4}

Any such sale must be preceded by a notice published in a newspaper in the county where the sale is to take place. Such notice must be published at least once and no later than 48 hours prior to the sale.

2 CRR-NY 101.5 Lawful deductions {#sec-2-crr-ny-101.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 101.5}

Lawful, reasonable and necessary expenses incurred by such superintendent in effecting such sale shall be deducted from the amount received for each article of personal property sold in the proportion that each such amount bears to the total amount received at such sale. After audit by the State Comptroller, amounts so deducted shall be used by such superintendent to defray such expenses.

2 CRR-NY 101.6 Report to Comptroller {#sec-2-crr-ny-101.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 101.6}

The amount remaining after such deduction shall be remitted forthwith to the State Comptroller accompanied by a report in such form and detail as the State Comptroller may prescribe.

Part 102 RECURRING WAGES AND SALARY PAYMENTS THROUGH FINANCIAL INSTITUTIONS BY THE AUTOMATED CLEARING-HOUSE METHOD

2 CRR-NY 102.1 Background {#sec-2-crr-ny-102.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.1}

Whereas, the State Comptroller is responsible for the preparation of recurring wages and salary payments for employees of the State of New York; and

Whereas, the State Comptroller, in consultation with the Commissioner of Taxation and Finance, has determined that employees paid by the Office of the State Comptroller should have the option of receiving their wages and salary payments through a direct deposit program, and the State Comptroller thereafter promulgated these regulations in furtherance of developing a program for electronic transfers of funds to employees' personal accounts at financial institutions; and

Whereas, the enactment of chapter 48 of the Laws of 1988 provided the State Comptroller with the authority to promulgate reasonable rules and regulations as may be necessary, to administer the direct deposit of employees' salaries; it is, therefore, hereby:

Determined that the following regulations shall be promulgated prescribing the procedure for an optional alternative means of payment to State employees, consisting of a program to be known as the direct deposit program.

2 CRR-NY 102.2 Scope of regulations {#sec-2-crr-ny-102.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.2}

This Part governs the making of recurring wages and salary payments by the State of New York through the Federal Reserve Bank to financial institutions in the United States which are automated clearing house (ACH) capable, to accounts of employees at such financial institutions.

2 CRR-NY 102.3 Definitions {#sec-2-crr-ny-102.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.3}

As used in this Part, unless the context otherwise requires:

(a) Originating depository financial institution means any financial organization which has entered into a direct deposit agreement with the State to provide for direct deposit of recurring wages and salary payments by transmitting electronic data to the Federal Reserve Bank.

(b) Financial institution means any bank, savings bank, savings and loan association or similar institution, or Federal- or State-chartered credit union, which has been designated by the recipient of the recurring wages and salary payment and which has affirmatively indicated to the State its preparedness to receive payment instructions as defined in subdivision (e) of this section and which has certified to the State Comptroller that it is ACH capable except for any such entity whose participation has been terminated by the State Comptroller pursuant to section 102.6(h) of this Part.

(c) State means the State of New York.

(d) Payment means a sum of money which is transferred to a recipient in satisfaction of an obligation for wages and salary.

(e) Payment instruction means an order issued by the State under this Part to pay a recurring wages and salary payment. A payment instruction may be contained on any form of communication other than voice, which is registered upon magnetic tape, disc or any other medium designed to capture and contain in durable form conventional signals used for the electronic communication of messages.

(f) Payment date means the date specified in the payment instruction for a payment which date shall be the regular pay date on which a paycheck would otherwise be issued to that employee. Such date is the date on which the funds are to be credited to the recipient's account with the financial institution specified by such recipient and on which such funds are to be made available to the financial institution by the originating depository financial institution through the Federal Reserve Bank. The date on which funds are available for withdrawal from the recipient's account, which date shall be specified on the enrollment form, shall be governed by the policy of the financial institution but shall in no event be later than two business days after the payment date. If the payment date is not a business day for the financial institution receiving a payment, or the originating depository financial institution from which it received such payment, then the next succeeding business day for both shall be deemed to be the payment date.

(g) Eligible employee or recipient means any person holding a position by election, appointment or employment in the service of an eligible agency except for an employee who is excluded from participation in the direct deposit program for cause by his employing agency. For purposes of this subdivision, an employing agency shall have cause when it reasonably determines there is a risk that the employee may receive payments covering a period of time during which the employee did not work, for which period of time the employee does not have sufficient leave credits to be applied toward the absence.

(h) Eligible agency means any State department, division, board, commission or any other governmental agency whose payrolls are prepared by the State Comptroller including the Legislature and the Judiciary, except those which the State Comptroller determines to be ineligible pursuant to this paragraph. Where the State Comptroller determines that, because of a lack of adequate internal controls, or other reasonable grounds, there exists a likelihood that participation or continued participation by an agency in this program will result in administrative problems, including but not limited to difficulties in recovering money sent in error to recipients' accounts, the State Comptroller may declare that such agency is ineligible to participate in the program. Where such a determination of ineligibility is made with respect to an agency which is then participating in the program, such determination shall result in termination of such agency from further participation in the program. Such termination shall become effective 30 days after the State Comptroller has sent such notice to the eligible agency.

(i) Recurring payment means any net payment of salary or wages, consisting of gross salary or wages less any mandatory or voluntary deductions, which is made at regular intervals to a recipient.

(j) Direct deposit of salary enrollment form means the form prescribed by the Department of Audit and Control for execution by:

(1) a recipient;

(2) a joint tenant, where applicable; or

(3) when appropriate, a financial institution maintaining an account for such recipient, to authorize the State Comptroller to make a recurring payment by transmission of electronic data.

(k) Account, recipient's account, designated account and appropriate account mean the account specified on the direct deposit of salary enrollment form into which any credit payments shall be made. Such account may only be an individual account or a joint account.

2 CRR-NY 102.4 Originating depository financial institution {#sec-2-crr-ny-102.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.4}

(a) The originating depository financial institution, with whom the State has entered into a direct deposit agreement, shall receive payment instructions from the State and shall make available and pay amounts specified in these payment instructions to financial institutions through the Federal Reserve Bank, and shall otherwise carry out the procedures and conduct the operations contemplated under this Part.

(b) The State by its action of issuing and sending any payment instruction contained in the media specified in section 102.3(e) of this Part shall be deemed to authorize the originating depository financial institution:

(1) to pay the amount specified in the payment instruction to the debit of the general account of the State on the payment date; and

(2) to handle and act upon such payment instruction by transmitting the same to the Federal Reserve Bank for forwarding to the recipient's financial institution.

2 CRR-NY 102.5 Recipients {#sec-2-crr-ny-102.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.5}

(a) No recipient has been or shall be compelled to participate in the program for direct deposit of his or her wages or salary. In the event a recipient elects to participate in the program, the recipient shall not be compelled to establish an account for receipt of payment instructions with a particular financial institution as a condition of employment or receipt of recurring payments, except that only participating financial institutions as defined in this Part may be so designated by any recipient.

(b) In order for a recipient to receive a recurring payment by the automated clearinghouse method under this Part, at a financial institution of the recipient's choosing and to an account the title of which includes the recipient's name, the recipient shall execute the applicable portion of the direct deposit of salary enrollment form prescribed by the Department of Audit and Control for such recurring payments and deliver it to the employee's agency payroll office or to such financial institution. When appropriate, the financial institution shall complete the form and verify the information thereon.

(c) In executing a direct deposit of salary enrollment form, a recipient:

(1) designates the financial institution and the account on the books of such financial institution to which the amount of the payments shall be credited;

(2) is deemed to agree to the provisions of this Part including without limitation, the provisions regarding recovery of erroneous payments; and

(3) authorizes the Department of Audit and Control to terminate any previously executed direct deposit of salary enrollment form or any other inconsistent payment instructions applicable to the relevant recurring payment.

(d) If a recipient wishes to direct a recurring payment to a different financial institution, the recipient shall execute a new direct deposit of salary enrollment form.

(e) Once a direct deposit of salary enrollment form has been effected, it shall remain in effect until it is terminated by one of the following events:

(1) a request by the recipient to terminate his or her participation in the direct deposit program by notifying the Department of Audit and Control through the recipient's personnel office or payroll office;

(2) the death of a recipient;

(3) a change in the title of an account which removes the name of the recipient or adds the name of a joint tenant; or

(4) the closing of the account.

Upon the occurrence of a change in the account title, the recipient shall execute a new direct deposit of salary enrollment form before further payments may be made to the recipient's account.

(f) When appropriate, a financial institution may change accounts or account numbers by adhering to established Automated Clearing House procedures for processing notifications of change.

(g) If the account to which the recurring payment is to be made is a joint account, each joint tenant must also sign the direct deposit of salary enrollment form. By signing such form, the recipient/employee and joint tenant each consent to allow the State, through the financial institution, to recover payments as specified in section 102.8 of this Part made to the account, all or any part of which the recipient/employee was not eligible to receive. Such payments include funds received after the death of the recipient/employee as a result of the lag payroll system, where applicable, or funds received due to an erroneous payment, or any salary payment made by mistake to the account pursuant to this program. This means of recovery is not an exclusive remedy and shall not prevent the State from utilizing any other lawful means to retrieve payments to which the recipient/employee is not entitled.

2 CRR-NY 102.6 Financial institutions {#sec-2-crr-ny-102.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.6}

(a) Regardless of whether it has executed a direct deposit of salary enrollment form, a financial institution's acceptance and handling of a payment issued pursuant to this Part shall constitute its agreement to the provisions of this Part.

(b) A financial institution in executing a direct deposit of salary enrollment form shall be responsible for:

(1) the completeness and accuracy of the data entered by it in its portion of the direct deposit of salary enrollment form; and

(2) verification of the identity of the recipient and any joint tenant on the account, if applicable, who initiate and execute the direct deposit of salary enrollment form through such financial institution, and that the account number entered by the recipient on the direct deposit of salary enrollment form corresponds to an account bearing the name of the recipient and if a joint tenant has signed the form, that the joint tenant is also named as a depositor on the account. A financial institution that executes a direct deposit of salary enrollment form on which the recipient's signature or the joint tenant's signature is forged shall be liable to the State under this Part for all payments made on the basis of such form. However, if the State fails to take corrective action after it has been notified that a payment has not been received by the correct recipient due to forgery, the State shall be liable for any payments based on the forged direct deposit of salary enrollment form and made after the date of such notice.

(c) A financial institution receiving a payment shall credit the amount of such payment to the account indicated by the account information specified in the payment instructions. If the financial institution is unable to credit the amount of a payment to the account indicated by the account information in the payment instruction because such an account does not exist on its books, or because in processing the payment instruction it has reason to believe the account indicated by the account number information in the payment instruction is not the account designated by the recipient, it shall either:

(1) return the payment to the originating depository financial institution with a statement identifying the reason therefor; or

(2) credit the amount of the payment to the account designated by the recipient where the financial institution is able to positively determine that the account is the account designated by the recipient on the direct deposit of salary enrollment form.

A credit to any other account by a financial institution will constitute a breach of its warranty made by reason of subdivision (i) of this section.

(d) A financial institution shall promptly return to the State through the originating depository financial institution any payment received by such financial institution:

(1) after termination of a direct deposit of a salary enrollment form pursuant to section 102.5(e) of this Part and before the execution of a new direct deposit of salary enrollment form. If a payment is received after a new direct deposit of salary enrollment form is executed, but before the form is transmitted to the personnel office or payroll office of the recipient's agency, the financial institution may credit the payment to the account indicated on the new form and transmit the new form to the recipient's agency promptly;

(2) after termination of a direct deposit of salary enrollment form pursuant to subdivision (c) of this section has become effective;

(3) after the death of the recipient. A financial institution may limit its liability if the financial institution did not have knowledge of the death of the recipient at the time of the deposit or withdrawal of any payments made after the death of the recipient, and the financial institution fulfills the requirements set forth in section 102.8 of this Part; or

(4) after the closing of the recipient's account.

(e) A financial institution to which a payment is sent under this Part does not thereby become a State depositary and shall not advertise itself as one because of that fact.

(f) If any change in account numbers is made by a financial institution, the financial institution will be responsible to the recipient for any lost or late payment caused by the financial institution's actions in processing the change in accordance with applicable State and Federal statutes.

(g) Each financial institution by its action of handling a payment under this Part shall be deemed to warrant to the State that it has handled the payment in accordance with the requirements of this Part. If the warranty is breached, the financial institution shall indemnify the State for any loss sustained or liability incurred by the State, but only to the extent that such loss was the result of the breach. The State will give the financial institution prompt written notice of any claim of loss. This provision does not deny the financial institution the opportunity to cure the defect and to defend, settle or otherwise compromise the claim.

(h) At his sole discretion, the State Comptroller may terminate the participation in this program of any financial institution which the State Comptroller finds to be causing unacceptable administrative difficulties including but not limited to unreasonable delays in making recurring payments available to recipients. In the event termination is contemplated, the State Comptroller shall send to the financial institution by certified mail a notice of intention to terminate setting forth the facts and circumstances justifying termination of the financial institution's participation in this program. The financial institution shall have 30 days in which to respond in writing to the State Comptroller. If after considering the response of the financial institution, the State Comptroller determines that termination is proper, or in the event the financial institution fails to respond within 30 days, the State Comptroller shall send by certified mail a notice of termination to the financial institution. Such termination shall become effective 30 days after the date such notice is mailed.

2 CRR-NY 102.7 Timeliness of action {#sec-2-crr-ny-102.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.7}

If, because of circumstances beyond its control, the State, the originating depository financial institution or any financial institution shall be delayed beyond the time prescribed for the action (including the payment date) provided by this Part, by the operating circulars of the Federal Reserve Banks, or by applicable law with respect to a payment, the time within which such action shall be completed shall be extended for such time after the cause of the delay ceases to operate as shall be necessary to take or complete the action, provided the State, the originating depository financial institution, or the financial institution exercises such diligence as the circumstances require.

2 CRR-NY 102.8 Collection procedures for erroneous payments {#sec-2-crr-ny-102.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.8}

(a) A financial institution shall be responsible to the State for the collection of the total amount of all payments received after the death of the recipient or upon notification by the State that it has made any other erroneous payment to the recipient's account. This Part authorizes a financial institution to debit the account of the appropriate recipient, living or deceased, for the amount to be collected by the financial institution.

(b) For each type of erroneous payment, the State will send a notice of reversal to the financial institution via the Automated Clearing House (ACH). The State will enter pertinent payment information into the “ASK CHASE” on-line system. The entry will identify payments sent to the financial institution for credit to the account of the recipient which should be returned by the financial institution in the case of the death of a recipient or if the State has made an erroneous payment to the recipient's account.

(c) Upon receipt of the notice of reversal, the financial institution shall return to the State an amount equal to the overpayment or erroneous payment, if available, in accordance with the National Automated Clearing House Operating Rules, article II, section 2.4 and 2.5 of the 1997 ACH Rules.

(d) A financial institution that fails to timely comply with the collection procedures set forth in this section or the notice to account owners requirement of section 102.9 of this Part will be liable to the State for that portion which could not be collected due to the financial institution's negligence or failure to act timely.

(e) Immediately upon learning of the death of the recipient, regardless of whether there has been notification from the State, the financial institution shall return to the State any further payments received and notify the State of the death of the recipient in order that the above collection procedures can be commenced. See section 102.6(d)(1) of this Part.

2 CRR-NY 102.9 [Repealed] {#sec-2-crr-ny-102.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.9}

2 CRR-NY 102.10 [Repealed] {#sec-2-crr-ny-102.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 102.10}

Part 103 RULES AND REGULATIONS GOVERNING PURCHASE OF RAILROAD MATERIALS IN OPEN MARKET

2 CRR-NY 103.1 Acquisition and payment—railroad materials {#sec-2-crr-ny-103.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 103.1}

(a) Upon the acceptance of a project estimate by the State, the railroad shall determine the extent of required material available in its stores. A stores charge of 15 percent may be added to the cost of this material after its incorporation in the work.

(b) Substantial quantities of materials ordered under an annual contract for a specific project will be paid for at the cost provided for in such contract, plus necessary costs of transportation and inspection. This material shall be shipped direct to project and the 15 percent overhead will not be allowed.

(c) All other materials required shall be grouped in a manner which would permit the solicitation of bids for each class of materials. Open market orders will be required for each group of materials having an estimated cost of $500 or more.

(d) Open market orders shall be numbered consecutively by projects. Each tabulation shall be tied in with the appropriate estimate item.

(e) All tabulations should show the following certification of the railroad company's purchasing agent or other responsible official:

“I hereby certify that the foregoing is a correct tabulation of all bids received on the material listed above. The quotations are based on delivery of the material (explain).”

Recommend placing order with

(low bidder)

Value $______

Terms

Purchasing Agent

Dated ______

2 CRR-NY 103.2 General bidding requirements {#sec-2-crr-ny-103.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 103.2}

(a)

(1) Invitations to submit bids must be issued to at least five manufacturers or distributors of products or materials meeting the railroad company's general specification. If less than five invitations are issued, the reason for the limited canvass should be shown on the proposal form.

(2) In recognition of the fact that the railroad companies have adopted the products of certain manufacturers as an inflexible standard for signal and related facilities the State will, in these instances, waive the requirements for competition, providing that the proposed purchase is a reproduction of a product of the same producer, and accept a copy of railroad company's purchase order for such products.

(3) If the proposal of other than the low bidder is recommended for acceptance, a detailed explanation of the preference must be submitted by the Commissioner of Transportation. All tabulations must be accompanied by a copy of the proposal form, invitation and photostatic copy of each bid and/or declination.

(b)

(1) Prices must be based on delivery at the nearest point of the railroad on which the project is located and tabulation should show the estimated cost of transportation (for each bidder) at the rate of not to exceed 10 mills per net ton mile from such point to the site of project, or the published tariff rate for that commodity. Specifically, the total for each bid should be adjusted to show total net cost of materials f.o.b. job.

(2) Delivery dates should be so arranged that materials will not pass through railroad stores, as the 15-percent overhead will not be allowed on direct purchases.

(3) Materials purchased for specific State projects shall be consigned to the State of New York, Department of Transportation, in care of the railroad, for the reason that the State will not accept billing for transportation taxes on such purchases.

(4) In issuing invitations to bid on these materials, the railroad companies should not be influenced by the fact that a manufacturer is located on their own or affiliated lines. Invitations must be issued to any reputable producer or distributor of products meeting the railroad company's general specifications.

2 CRR-NY 103.3 Procedure to be followed {#sec-2-crr-ny-103.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 103.3}

In order to secure prompt consideration of the open market orders, the following procedure should be carefully followed:

(a) The railroad company shall submit to the State seven photostatic copies of each bid or declination, proposal form, invitation and certified tabulation. Distribution should be as follows: two copies to Deputy Chief Engineer, State Department of Transportation, Albany, NY; one copy to Public Service Commission, Albany, NY (if project is under jurisdiction of that commission); remaining copies to Department of Audit and Control, Albany, NY.

(b) The Department of Transportation and/or the Public Service Commission shall review the material so transmitted and forward same to the Department of Audit and Control with appropriate recommendations or comments.

(c) Upon approval by the Department of Audit and Control, the copies shall be distributed as follows:

One copy to each railroad company.

One copy to Deputy Chief Engineer, Department of Transportation, Albany, NY 12232.

One copy to Public Service Commission, Albany, NY 12223 (if P.S.C. project).

One copy to Director, Bureau of Contracts, Department of Transportation, Albany, NY 12232.

One copy retained for files of the Department of Audit and Control.

Part 105 PROCEDURES FOR IMPLEMENTING THE LABOR POLICY OF THE STATE PROHIBITING PARTICIPATION BY PUBLIC CONTRACTORS IN INTERNATIONAL BOYCOTTS

2 CRR-NY 105.1 Statement of purpose {#sec-2-crr-ny-105.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 105.1}

(a) The purpose of this Part is to implement the provisions of chapter 406 of the Laws of 1981, as amended by chapter 821 of the Laws of 1981. Chapter 406 added section 220-f to the Labor Law and section 139-h to the State Finance Law. Section 220-f, as amended by chapter 821, enunciates the labor policy of this State that contracts for the construction, reconstruction, maintenance and/or repairs of public work or for services performed or to be performed or for goods sold or to be sold in an amount exceeding $5,000 to which the State or any public department, agency or official thereof intends to be a party, shall not be executed with any person, firm, partnership or corporation which is participating or has participated at any time in an international boycott in violation of the provisions of the United States Export Administration Act of 1969, as amended, or the Export Administration Act of 1979, as amended, or the regulations of the United States Department of Commerce promulgated thereunder.

(b) Section 139-h of the State Finance Law provides for the implementation of this policy through the insertion of a clause in all State specifications or contracts in an amount exceeding $5,000, as a material condition of the contract, stating that neither the contractor nor any substantially owned or affiliated person, firm, partnership or corporation has violated the policy enunciated in section 220-f of the Labor Law. Section 139-h of the State Finance Law further provides that any such contract shall be rendered forfeit and void by the State Comptroller if, subsequent to execution, the contractor or a substantially owned or affiliated person, firm, partnership or corporation has been convicted of a violation of or has been found upon final determination of the United States Commerce Department or other appropriate agency of the United States to have violated the provisions of the Federal acts or regulations referred to in section 220-f of the Labor Law by participating in an international boycott. In addition, section 139-h empowers the State Comptroller to issue regulations to implement its provisions.

2 CRR-NY 105.2 Definitions {#sec-2-crr-ny-105.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 105.2}

(a) Contractor.

This term shall mean any person, firm, partnership or corporation which seeks to be let, granted or awarded or is let, granted or awarded a contract by the State or any public department, agency or official thereof, which contract is subject to the provisions of section 139-h of the State Finance Law.

(b) Conviction or determination.

This term shall mean any conviction in a court of the United States, or any final determination by the United States Department of Commerce or any other appropriate agency of the United States, of participation in an international boycott in violation of the Export Administration Act of 1969, as amended, or the Export Administration Act of 1979, as amended, or the regulations of the United States Department of Commerce promulgated thereunder.

(c) Substantially owned or affiliated person, firm, partnership or corporation.

This term shall mean any person, firm, partnership or corporation which:

(1) the contractor substantially owns;

(2) substantially owns the contractor; or

(3) is substantially owned by a third party which also substantially owns the contractor.

2 CRR-NY 105.3 Contract provision {#sec-2-crr-ny-105.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 105.3}

All requests for proposals for contracts subject to the provisions of section 139-h of the State Finance Law shall require that the contract contain, as a material condition, a clause as follows or as hereafter revised by the State Comptroller and the Attorney General:

In accordance with section 220-f of the Labor Law and section 139-h of the State Finance Law and the regulations of the Comptroller of the State of New York promulgated thereunder, the contractor agrees, as a material condition of the contract:

A. That neither the contractor nor any substantially owned or affiliated person, firm, partnership or corporation has participated, is participating or shall participate in an international boycott in violation of the provisions of the United States Export Administration Act of 1969, as amended, or the Export Administration Act of 1979, as amended, or the regulations of the United States Department of Commerce promulgated thereunder;

B. That if the contractor or any substantially owned or affiliated person, firm, partnership or corporation has been convicted or subjected to a final determination by the United States Department of Commerce or any other appropriate agency of the United States of a violation of the United States Export Administration Act of 1969, as amended, or the Export Administration Act of 1979, as amended, or the regulations of the United States Department of Commerce promulgated thereunder, the contractor shall notify the Comptroller of such conviction or determination in the manner prescribed by the Comptroller's regulations.

2 CRR-NY 105.4 Notification by the contractor {#sec-2-crr-ny-105.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 105.4}

The contractor shall notify the Comptroller in writing within five business days of:

(a) any conviction or determination against the contractor or a substantially owned or affiliated person, firm, partnership or corporation; and

(b) the disposition of any appeal.

2 CRR-NY 105.5 The hearing {#sec-2-crr-ny-105.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 105.5}

(a) Upon receipt of a notice of conviction or determination required by section 105.4 of this Part, or upon learning of a conviction or determination in any other manner, the Comptroller shall schedule a hearing, to be held within 30 days, and shall send a written notice to the contractor stating the time and place of the hearing. If the Comptroller receives notice prior to the hearing date that an appeal has been taken or will be taken within 30 days, the Comptroller shall postpone the hearing pending disposition of all appeals, and shall send a written notice of the postponement to the contractor. Upon disposition of the final appeal, provided that the conviction or determination has not been reversed, the Comptroller shall schedule a hearing as provided in this subdivision.

(b) The Comptroller shall designate a hearing officer to conduct the hearing. The hearing officer shall have whatever powers are necessary and appropriate, including the power to sign and issue subpoenas in the name of the Comptroller, to regulate the proceedings of the hearing and to obtain the information which the hearing officer determines is necessary for the completion of the report required by section 105.6 of this Part.

(c) At the hearing, the contractor shall be entitled to representation by counsel. The contractor shall have the opportunity to present written and oral evidence on relevant issues of law and fact, but may not retry the conviction or determination. However, if the conviction or determination has been made against a substantially owned or affiliated person, firm, partnership, or corporation, the contractor may dispute the ownership or the affiliation. In addition, the contractor shall present evidence concerning the possible costs to and effects on the State and the contractor if the contract were to be terminated.

(d) A record of the hearing shall be made.

2 CRR-NY 105.6 Report of the hearing officer {#sec-2-crr-ny-105.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 105.6}

(a) The hearing officer shall submit a written report to the Comptroller containing the following findings of fact and conclusions of law:

(1) whether or not there has been a conviction or determination which has not been reversed on final appeal against the contractor or substantially owned or affiliated person, firm, partnership or corporation;

(2) whether or not the contractor has fulfilled the notification requirements of the contract with regard to the conviction or determination, and if not, whether such failure was without justification;

(3) what the costs and effects of the termination of the contract will be on the interests of the State and the business of the contractor; and

(4) any other findings or conclusions which the hearing officer believes to be relevant.

(b) Based on the foregoing, the hearing officer shall make recommendations to the Comptroller as follows:

(1) whether or not the contract must be terminated pursuant to section 139-h of the State Finance Law and, if the contract must be terminated; and

(2) on what date the contract should be terminated. If the hearing officer recommends that the contract be terminated prior to the date that the Comptroller makes his determination, the hearing officer shall allow for the direct costs incurred by the contractor unless the hearing officer has found that the contractor has failed, without justification, to comply with the notice requirements. In such case, the hearing officer may recommend that payment for such direct costs not be allowed.

2 CRR-NY 105.7 Determinations by the Comptroller {#sec-2-crr-ny-105.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 105.7}

(a) The Comptroller shall review the report of the hearing officer. The Comptroller, in his reasonable judgment, may adopt or modify the report. On the basis of the report as adopted or modified, the Comptroller shall determine, in writing, whether, pursuant to section 139-h of the State Finance Law, the contract must be terminated, and if so, on what date the termination shall take effect.

(b) If the Comptroller determines that the contract shall be terminated retroactively, the Comptroller shall allow for the payment of the direct costs incurred by the contractor unless the Comptroller determines that the contractor has failed, without justification, to comply with the notice requirements. In such case, the Comptroller may disallow the payment of such direct costs.

(c) The Comptroller shall notify the contractor of the determinations made by sending a copy of the determinations to the contractor by registered mail. The Comptroller shall also send a copy of his determinations to the Attorney General and the appropriate public department, agency or official.

Part 106 PAYROLL DEDUCTIONS FROM SALARIES OF STATE EMPLOYEES

2 CRR-NY 106.1 [Repealed] {#sec-2-crr-ny-106.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 106.1}

2 CRR-NY 106.2 Payroll deductions for the purchase of United States bonds {#sec-2-crr-ny-106.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 106.2}

Every State employee may specify in writing to the State Comptroller a certain amount to be deducted from his or her salary for the purchase of United States bonds. The following rules shall apply to this program:

(a) A payroll deduction authorization card (the form of which must be approved by the State Comptroller) must be signed by the employee and forwarded to the employee's agency payroll officer for filing with the State Comptroller. Deductions shall start with the first pay period beginning on or after the date selected by the employee.

(b) The minimum deduction is $1 per day period. There is no maximum deduction.

(c) The employee has the right to revoke authorization for payroll deductions at any time, by written notice to the State Comptroller. Notice must be submitted through the employee's agency payroll officer.

2 CRR-NY 106.3 Payroll deductions for payments to credit unions {#sec-2-crr-ny-106.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 106.3}

Every State employee may specify in writing to the State Comptroller a certain amount to be deducted from his or her salary for payment to credit unions. The following rules shall apply to this program:

(a) Deductions for purchases of shares and repayment of loans will be combined into one amount.

(b) The minimum bi-weekly deduction is $5.

(c) Only one credit union deduction may be in effect at one time.

(d) The employee has the right to revoke authorization for payroll deductions at any time, by written notice to the State Comptroller.

2 CRR-NY 106.4 Payroll deductions for contributions to campus-related foundations {#sec-2-crr-ny-106.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 106.4}

Every employee of the State University of New York may specify a certain amount to be deducted from his or her salary for contributions to campus-related foundations. The following rules shall apply to this program:

(a) A payroll deduction authorization card (the form of which must be approved by the State Comptroller) must be signed by the employee and forwarded to the employee's agency payroll officer. Deductions shall start with the first pay period beginning on or after the date selected by the employee.

(b) The deduction must be a fixed amount with a minimum deduction of $1 per pay period. There is no maximum deduction.

(c) There can be only one campus-related foundation deduction per campus.

(d) The employee has the right to revoke authorization for payroll deductions at any time by written notice to the employee's agency payroll officer.

Part 107 CERTIFICATES OF PARTICIPATION

2 CRR-NY 107.1 Definitions {#sec-2-crr-ny-107.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 107.1}

(a) Certificates of participation shall, for the purposes of this Part, refer to any certificates or similar instruments representing an undivided proportionate interest in lease, installment or other periodic payments to be made by any State department or agency.

(b) COPS shall mean certificates of participation, as defined by subdivision (a) of this section.

2 CRR-NY 107.2 Form of COPS sale {#sec-2-crr-ny-107.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 107.2}

The State Comptroller may, pursuant to subdivision 1 of section 66-b of the State Finance Law, cause COPS to be sold either through a request for proposals, competitive bidding or negotiated placement.

2 CRR-NY 107.3 Request for proposals {#sec-2-crr-ny-107.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 107.3}

(a) Determination; candidate firms.

When the Comptroller has determined it to be in the interests of the State to cause COPS to be sold through a request for proposals, requests shall be sent to at least five firms that have, in the Comptroller's judgment, sufficient financial resources, expertise and experience to finance and market the COPS.

(b) Criteria for selection.

The Comptroller shall select a firm or firms from among those submitting a proposal in accordance with this section. Such selection shall take into account, but not be limited to, the following factors:

(1) the total cost to the State;

(2) the financial resources of the firms;

(3) the experience and ability of the firms to finance and market the COPS;

(4) the experience and ability of the individuals whom the firms plan to involve directly in the financing and marketing; and

(5) the soundness of the firms' overall financing and marketing plans.

(c) Contents of request for proposal.

A request for proposal prepared for candidate firms pursuant to subdivision (a) of this section shall request information from the firms that will enable the Comptroller to evaluate the firms in light of the factors set forth in subdivision (b) of this section as well as any other matters the Comptroller deems relevant. The request for proposal shall also contain a provision to the effect that the Comptroller may reject any or all proposals submitted in response thereto.

2 CRR-NY 107.4 Competitive sale {#sec-2-crr-ny-107.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 107.4}

The Comptroller may determine it to be in the interests of the State to effect a sale of COPS on a competitive basis to the bidder offering the State the best financial terms. Such a sale must take place not less than 2 nor more than 15 days, Saturdays, Sundays and holidays excepted, after a notice of such sale has been published at least once in a definitive trade publication of the municipal bond industry published on each business day in the State of New York which is generally available to participants in the municipal bond industry, which notice shall state the terms of the sale. The Comptroller may not change the terms of the sale unless notice of such change is sent via a definitive trade wire service of the municipal bond industry which, in general, makes available information regarding activity and sales of municipal bonds, and is generally available to participants in the municipal bond industry, at least one day prior to the date of the sale as set forth in the original notice of sale. Notwithstanding the foregoing the Comptroller may postpone the sale at any time prior to such sale, provided such notice of postponement is sent via a definitive trade wire service of the municipal bond industry described herein. In so changing the terms or date of a sale the Comptroller may send notice by such wire service that the sale will be delayed by up to 30 days, provided that wire notice of the new sale date will be given at least one business day prior to the new time when bids will be accepted. In such event, no new notice of sale shall be required to be published. Any notice regarding any sale conducted pursuant to this section shall contain a provision to the effect that the Comptroller may reject any or all bids.

2 CRR-NY 107.5 Negotiated sale {#sec-2-crr-ny-107.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 107.5}

(a) Determination; candidate firms.

The Comptroller may determine it to be in the interests of the State to cause COPS to be sold on a negotiated basis in accordance with subdivision (b) of this section to such firm or firms that, in the Comptroller's judgment, have sufficient expertise and experience in the sale of COPS, as well as other similar experience and expertise, including the sale of obligations of the State of New York or other similar issuers, to underwrite the sale of COPS.

(b) Criteria for selection.

The Comptroller's selection of the underwriters pursuant to this section shall take into account, but not be limited to, the following factors:

(1) the total cost to the State;

(2) the financial resources of the firms;

(3) the experience and ability of the firms to finance and market the COPS;

(4) the experience and ability of the individuals whom the firms plan to involve directly in the financing and marketing; and

(5) the soundness of the firms' overall financing and marketing plans.

2 CRR-NY 107.6 Notice of COPS sale {#sec-2-crr-ny-107.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 107.6}

In any case where the Director of the Budget determines that the sale of COPS will be in the interests of the State, and the Comptroller causes COPS to be sold on a negotiated basis pursuant to section 107.5 of this Part, notice of such sale shall be published in a definitive trade publication of the municipal bond industry published on each business day in the State of New York, which is generally available to participants in the municipal bond industry within five business days after the date the sale is effected.

2 CRR-NY 107.7 When sale may be effected {#sec-2-crr-ny-107.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 107.7}

The Comptroller may effect a sale to the selected purchasers upon receipt of a final offer to purchase the COPS.

2 CRR-NY 107.8 COPS financed equipment acquisitions {#sec-2-crr-ny-107.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 107.8}

All State departments, agencies, the City University of New York or any other entity purchasing equipment through the use of COPS must acquire such equipment by outright purchase when the cost of such equipment is $250,000 or less. Multiple items of the same type of equipment, or related items of equipment, procured pursuant to a single request for proposal may be grouped under one or several contracts, as part of a procurement package to reach the aforementioned dollar level.

Part 108 SPECIAL ACCIDENTAL DEATH BENEFITS

2 CRR-NY 108.1 Purpose of rule {#sec-2-crr-ny-108.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 108.1}

(a) The purpose of this rule is to prescribe requirements for reimbursing special accidental death benefits paid pursuant to subdivisions (b) and (c) of section 208-f of the General Municipal Law during each preceding State fiscal year.

(b) It is adopted pursuant to subdivision (e) of section 208-f of the General Municipal Law, which requires the comptroller to adopt rules and regulations in connection with the payment of monies appropriated and made available for this purpose, upon audit and warrant of the comptroller on vouchers certified or approved as provided by law.

2 CRR-NY 108.2 Process for reimbursement {#sec-2-crr-ny-108.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 108.2}

(a) The chief fiscal officer of a municipality seeking reimbursement under the provisions of subdivision e of section 208-f of the General Municipal Law shall, on an annual basis by July 31st, submit to the Director of Finance in the Office of the State Comptroller both a certification stating the total amount of special accidental death benefits paid by the municipality to eligible beneficiaries pursuant to subdivisions (b) and (c) of section 208-f of the General Municipal Law during the preceding state fiscal year, and a standard voucher for payment.

(b) Each certification shall include:

(1) the actual amount of payments made by the municipality for that purpose, identifying the persons to whom payment was made;

(2) the pension fund or funds from which payments were made;

(3) the total amount of payments made from each fund; and

(4) the total amount sought for reimbursement.

(c) Each standard voucher shall include:

(1) the pension fund or funds from which payments were made;

(2) the total amount of payments made from each fund; and

(3) the total amount sought for reimbursement.

Upon receipt of a complete certification and standard voucher, payment shall be made upon audit and warrant of the comptroller, subject to the availability of appropriated funds from which payment for this purpose can be made.

Part 110 PUBLIC INSPECTION OF RECORDS OF THE DEPARTMENT OF AUDIT AND CONTROL

2 CRR-NY 110.1 Records {#sec-2-crr-ny-110.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.1}

Except as otherwise provided by law, all records of the department shall be made available to the public in accordance with Public Officers Law article 6, known as the Freedom of Information Law (FOIL).

2 CRR-NY 110.2 Definitions {#sec-2-crr-ny-110.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.2}

When used in this Part:

(a) Department shall mean the New York State Department of Audit and Control.

(b) Records access officer shall mean the person or persons designated by the state comptroller to respond to requests for records.

(c) FOIL appeals officer shall mean the person or persons designated by the State comptroller to determine appeals from denials of access to records or portions thereof.

2 CRR-NY 110.3 Records access officer {#sec-2-crr-ny-110.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.3}

(a) Requests may be submitted to the records access officer at 110 State Street, Albany, NY 12236-0001, and via email at [email protected]. Requests received after 5:00 p.m. on a regular business day or during non-business hours shall be determined “received” on the following regular business day.

(b) The records access officer is responsible for ensuring an appropriate agency response to requests for access to records. Upon request, and if access is granted, the records access officer shall make records available for inspection during regular business hours at 110 State Street, Albany, NY 12236-0001.

(c) The records access officer shall, upon a request therefor, give a written certification that the copy of a record is a true copy.

(d) The records access officer shall ensure that agency personnel:

(1) post contact information for the records access officer and for the FOIL appeals officer, and a description of the process for submitting records requests, including the right to appeal a denial of access to records, on the department’s website along with a link to the website of the committee on open government; and

(2) maintain an up-to-date subject matter list on the department website.

2 CRR-NY 110.4 Fees for copies {#sec-2-crr-ny-110.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.4}

The fee for paper copies of records shall be 25 cents per page for paper copies not exceeding 9″ by 14″ or the actual cost of reproducing any other type of record in accordance with section 87 of the Public Officers Law. Based on the circumstances of each request, the department may:

(a) require payment prior to processing a request; or

(b) require payment prior to releasing a completed request; or

(c) waive any applicable fees. Waivers of fees will be granted on a case-by-case basis and will be decided based on the circumstances surrounding each request.

2 CRR-NY 110.5 Records containing trade secrets, information that would cause competitive injury, and critical infrastructure information {#sec-2-crr-ny-110.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.5}

(a) Any person who submits records to the Department that contain:

(1) trade secret information;

(2) information pertaining to a commercial enterprise that would cause substantial injury to the competitive position of the subject enterprise if disclosed; or

(3) critical infrastructure information may, at the time of submission, request that the department except those records or portions thereof from disclosure as provided for by section 78(2)(d) of the Public Officers Law.

(b) A request for an exception shall be in writing, accompany the records, and state the reasons why the records or portions thereof should be excepted from disclosure.

(c) Division staff shall take appropriate measures to ensure only authorized access.

2 CRR-NY 110.6 [Repealed] {#sec-2-crr-ny-110.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.6}

2 CRR-NY 110.7 [Repealed] {#sec-2-crr-ny-110.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.7}

2 CRR-NY 110.8 [Repealed] {#sec-2-crr-ny-110.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.8}

2 CRR-NY 110.9 [Repealed] {#sec-2-crr-ny-110.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.9}

2 CRR-NY 110.10 [Repealed] {#sec-2-crr-ny-110.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 110.10}

Part 111 PERSONAL INFORMATION RECORDS

2 CRR-NY 111.1 Statutory authority {#sec-2-crr-ny-111.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.1}

The rules set forth in this Part and adopted pursuant to the provisions of the “Personal Privacy Protection Law” (Public Officers Law, article 6-A, effective September 1, 1984) and the rules of the Committee on Open Government.

2 CRR-NY 111.2 Definitions {#sec-2-crr-ny-111.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.2}

When used in this Part:

(a) Office shall mean the Office of the State Comptroller.

(b) Record shall mean the term record as defined in section 92(9) of the Public Officers Law, but shall mean, generally, any item, collection or grouping of personal information about a data subject which is maintained and is retrievable by use of the name or other identifier of the data subject, but shall not include personal information which is not used to make any determination about a data subject.

(c) Data subject shall mean any natural person about whom personal information has been collected by a State agency.

(d) Privacy officer shall mean the office's employee designated to oversee and implement the office’s procedures to comply with the Personal Privacy Protection Law and such other privacy-related tasks as may be assigned.

(e) Privacy appeals officer shall mean the person designated by the State Comptroller to determine appeals from denials of requests for records or amendments or corrections thereto.

(f) Personal information means any information concerning a data subject which, because of name, number, symbol, mark or other identifier, can be used to identify the data subject.

(g) System of records means any group of records under the actual or constructive control of any agency pertaining to one or more data subjects from which personal information is retrievable by use of the name, symbol, mark or other identifier of a data subject.

2 CRR-NY 111.3 Purpose and scope {#sec-2-crr-ny-111.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.3}

(a) This office shall maintain in its records only such personal information which is relevant and necessary to accomplish a purpose of this office which is required to be accomplished by statute or executive order, or to implement a program specifically authorized by law.

(b) Personal information shall be collected, whenever practicable, directly from the person to whom the information pertains.

(c) This office seeks to ensure that all records pertaining to or used with respect to data subjects are accurate, relevant, timely and complete.

(d) These regulations provide information regarding the procedures by which data subjects may assert rights granted by the Personal Privacy Protection Law.

2 CRR-NY 111.4 Privacy officer {#sec-2-crr-ny-111.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.4}

(a) The privacy officer is responsible for:

(1) assisting a data subject in identifying and requesting personal information, if necessary;

(2) describing the contents of systems of records orally or in writing in order to enable a data subject to learn if a system of records includes a record or personal information identifiable to a data subject requesting such record or personal information;

(3) insuring that appropriate procedures are developed and implemented so that one of the following actions is taken upon locating the record sought:

(i) make the record available for inspection, in a printed form without codes or symbols, unless an accompanying document explaining such codes or symbols is also provided;

(ii) permit the data subject to copy the record; or

(iii) deny access to the record in whole or in part, and explain in writing the reasons therefor;

(4) making a copy available, upon request, upon payment of or offer to pay established fees, if any, or permitting the data subject to copy the record;

(5) upon request, certifying that a copy of a record is a true copy; or

(6) certifying, upon request, that:

(i) this office does not have possession of the record sought;

(ii) this office cannot locate the record sought after having made a diligent search; or

(iii) the information sought cannot be retrieved by use of the name or other identifier of the data subject without extraordinary search methods being employed by this office.

(b) The privacy officer is responsible for ensuring that the office complies with the provisions of the Personal Privacy Protection Law and the regulations herein and for coordinating the response to requests for records or amendment or correction of records. In particular, the privacy officer shall perform the functions of the office at 110 State Street, Albany, NY 12236-0001. The officer shall cause a public notice to be posted at 110 State Street, Albany, NY, and all other buildings occupied by this office, informing members of the public of the officer’s location and telephone number; of the times and places records will be available for inspection and copying; and of the right to appeal a denial of a request for a record or an amendment or correction thereto; which shall include the name, address and telephone number of the privacy appeals officer.

(c) The privacy officer shall coordinate with the privacy committee, as designated by the Comptroller, to develop and, from time to time, to update internal policies, procedures and guidance on the collection, use, safeguarding, disclosure and disposal of personal information. Those policies, procedures and guidance shall include, but not be limited to, addressing the following objectives:

(1) to compile and maintain an inventory of agency forms utilizing social security numbers as identifiers for data subjects and to work toward elimination of such use, absent an exception granted by the privacy committee;

(2) to review agency forms to insure that the proper privacy notice is used;

(3) to assist in the development of a process for review of new systems of data collection to insure that appropriate privacy notices are included and to provide mitigation strategies to reduce privacy impact;

(4) to recommend appropriate measures to communicate the importance of compliance with personal privacy protection measures to staff, including periodic training and outreach to build a culture of privacy across the office and transparency to the public;

(5) to assist in the identification and documentation of privacy risks and development of appropriate internal controls in coordination with the internal controls officer and other staff with a privacy-related role;

(6) to operate an office-wide privacy incident response program to insure that incidents involving personal information are properly reported and mitigated, as appropriate.

2 CRR-NY 111.5 Proof of identity {#sec-2-crr-ny-111.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.5}

(a) When a request is made in person, this office may require the requesting individual to present appropriate identification, such as a driver's license, an identifier assigned to the data subject by this office, a photograph or similar information that confirms that the person seeking the record is the data subject of such record.

(b) When a request is made by mail or by email, this office may require verification of a signature or inclusion of an identifier generally known only by a data subject, or similar appropriate identification.

(c) Proof of identity shall not be required regarding a request for a record accessible to the public pursuant to the Freedom of Information Law (article 6 of the Public Officers Law).

2 CRR-NY 111.6 Request for a record or correction or amendment of a record or personal information {#sec-2-crr-ny-111.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.6}

(a) A request for a record or for correction or amendment of a record or personal information shall be made in writing, submitted by mail or in person, and must be accompanied by a reasonable proof of identity, as described in section 111.5 of this Part. A request for correction or amendment of a record or personal information shall not include matters the determination of which is within the exclusive authority of the Comptroller pursuant to sections 74 and 374 of the Retirement and Social Security Law.

(b) A request shall reasonably describe the record sought. Whenever possible, the data subject should supply identifying information that would assist this office in locating the record sought.

(c) A request based upon categories of information described in a notice of a system of records or a privacy impact statement shall be deemed to reasonably describe the record sought.

(d) Within five business days of the receipt of a request for a record, this office shall provide access to the record, deny access, or acknowledge the receipt of the request in writing, stating the approximate date when the request will be granted or denied, which date shall not exceed 30 days from the date of the acknowledgment. Whenever access to a record is denied, it shall be in writing, explaining the reasons therefor, and identifying the persons to whom an appeal may be made.

(e) Within 30 business days of the receipt of a request from a data subject for correction or amendment of a record or personal information, reasonably described, concerning the data subject, this office shall:

(1) make the amendment or correction in whole or in part and inform the data subject that, on request, such correction or amendment will be provided to any person or governmental unit to which the record or personal information has been or is disclosed pursuant to paragraph (d), (i) or (l) of subdivision 1 of section 96 of the Public Officers Law; or

(2) deny in writing the request of the data subject to correct or amend, explaining the reasons therefor, and identify the person to whom an appeal may be directed.

(f) A failure to grant or deny access to records within five business days of the receipt of a request or within 30 days of an acknowledgment of the receipt of a request, or a failure to respond to a request for amendment or correction of a record or personal information within 30 business days of receipt of such a request, shall be construed as a denial that may be appealed.

2 CRR-NY 111.7 Appeal {#sec-2-crr-ny-111.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.7}

(a) Any data subject denied access to a record or denied a request to amend or correct a record or personal information pursuant to this Part may, within 30 business days of such denial, appeal such denial in writing to the privacy appeals officer.

(b) The time for deciding an appeal shall commence upon receipt of an appeal that identifies:

(1) the request for a record or amendment or correction of a record or personal information which has been denied in whole or in part;

(2) the record that is the subject of the appeal; and

(3) the name and return address of the data subject or the person making the appeal.

(c) Within seven business days of an appeal of a denial of access, or within 30 days of an appeal concerning a denial of a request for correction or amendment, the privacy appeals officer shall:

(1) provide access to or correct or amend the record or personal information; or

(2) fully explain in writing the factual and statutory reasons for further denial and inform the data subject of the right to seek judicial review of such determination pursuant to article 78 of the Civil Practice Law and Rules.

(d) If, on appeal, a record or personal information is corrected or amended, the data subject shall be informed that, on request, the correction or amendment will be provided to any person or governmental unit to which the record or personal information has been or is disclosed pursuant to paragraph (d), (i) or (l) of subdivision 1 of section 96 of the Public Officers Law.

(e) If correction or amendment of a record or personal information is denied in whole or in part upon appeal, the determination rendered pursuant to the appeal shall inform the data subject of the right to:

(1) file with this office a statement of reasonable length setting forth the data subject's reasons for disagreement with the determination; and

(2) request that such a statement of disagreement be provided to any person or governmental unit to which the record has been or is disclosed pursuant to paragraph (d), (i) or (l) of subdivision 1 of section 96 of the Public Officers Law.

(f) This office shall immediately forward to the Committee on Open Government a copy of any appeal made pursuant to this Part upon receipt, the determination thereon and the reasons therefor at the time of such determination.

2 CRR-NY 111.8 Statement of disagreement by data subject {#sec-2-crr-ny-111.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.8}

(a) If correction or amendment of a record or personal information is denied in whole or in part upon appeal, the determination rendered pursuant to the appeal shall inform the data subject of the right to:

(1) file with the office a statement of reasonable length setting forth the data subject’s reasons for disagreement with the determination;

(2) request that such a statement of disagreement be provided to any person or governmental unit to which the record has been or is disclosed pursuant to paragraph (d), (i) or (l) of subdivision one of section 96 of the Public Officers Law.

(b) Upon receipt of a statement of disagreement from a data subject, the office shall clearly note any portions of the record that are disputed and attach the data subject’s statement as part of the record.

(c) When providing a data subject’s statement of disagreement to a person or governmental unit in conjunction with a disclosure made pursuant to paragraph (d), (i), or (l) of subdivision one of section 96 of the Public Officers Law, the office may also include a concise statement of its reasons for not making the requested amendment or correction.

2 CRR-NY 111.9 Fees {#sec-2-crr-ny-111.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.9}

(a) Unless otherwise prescribed by statute, there shall be no fee charged for:

(1) inspection of records;

(2) search for records; or

(3) any certification pursuant to this Part.

(b) Copies of records shall be provided at a rate which shall not exceed 25 cents per photocopy up to 9 by 14 inches, or the actual cost of reproducing any other record, except when a different fee is otherwise prescribed by statute.

2 CRR-NY 111.10 Severability {#sec-2-crr-ny-111.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 111.10}

If any provision of this Part or the application thereof to any person or circumstance is adjudged invalid by a court of competent jurisdiction, such judgment shall not affect or impair the validity of the other provisions of this Part or the application thereof to other persons and circumstances.

Part 113 EXTENSION OF TIME TO REPORT CERTAIN ABANDONED PROPERTY

2 CRR-NY 113.1 Extension of time for reporting abandoned property {#sec-2-crr-ny-113.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 113.1}

(a) Pursuant to subdivision one of section 1412 of the Abandoned Property Law, the State Comptroller may extend the time for reporting a deposit account, held by a banking organization for a foreign depositor, which is otherwise reportable pursuant to sections 300 and 301 of such law, upon the receipt by the State Comptroller of evidence to his satisfaction of the existence on file with the banking organization of one or more of the following:

(1) a memorandum contemporaneously executed by an officer or representative of the banking organization stating therein that the person appearing to be entitled to the account had appeared before him and had indicated knowledge of the account;

(2) a memorandum contemporaneously executed by an officer or representative of the banking organization in the ordinary course of business, describing therein the nature of a contact, other than a personal meeting as referred to in paragraph (1) of this subdivision, between such officer and the person appearing to be entitled to the account and stating therein that such person had knowledge thereof;

(3) a sworn affidavit from a third party, having either a familial or business relationship or both with the person appearing to be entitled to the account, attesting that such third party had received a written communication from such person indicating knowledge of the account and attesting to the relationship, and the nature and contents of such communication; or

(4) a written communication received by the banking organization from the person appearing to be entitled to the account which indicates knowledge of the account in a manner previously agreed upon between the banking organization and its depositor.

(b) In any case where a banking organization has on file any notation, entry or other similar writing which may indicate that a contact, as set forth in paragraphs (1) and (2) of subdivision (a) of this section, has or had occurred within five years prior to the effective date of this Part with the person or persons appearing to be entitled to the account, and where such contact had not been reduced to writing contemporaneously with such contact, as required by subdivisions (a) and (b) of this section, then an affidavit executed by an officer or representative of the banking organization no later than three months after the effective date of this regulation shall be deemed to be valid evidence of such contact. Such affidavit shall set forth the nature of the contact and the date thereof.

(c) The time for reporting deposit accounts described in subdivision (a) of this section may be extended by the State Comptroller for a period of not more than five years following the occurrence of one or more of the circumstances set forth in such subdivision, but the total period of retention of such deposit accounts by a banking organization shall in no event exceed ten years unless one or more of the exclusionary acts set forth in subparagraphs (i)- (iii) of paragraph (a) of subdivision (1) of section 300 of the Abandoned Property Law occurs during such period of retention.

(d) In order for the State Comptroller to extend the time for the report and payment of a deposit account as described in subdivision (a) of this section, the banking organization holding such account must request an extension for a specified period of time by submitting to the State Comptroller a statement, acknowledged in the manner prescribed by law, as to the nature of the occurrence relied upon as the basis for the request together with evidence of such occurrence in the form and manner and to the extent that the State Comptroller may require. The statement must also set forth, to the best of the banking organizations' information and belief, the existence of restrictions upon, or impediments to the timely receipt of written communications from the person appearing to be entitled to the account. Within 30 days following submission to him of such statement and supporting evidence, the State Comptroller shall make a determination whether or not to grant an extension of time for report and payment and such determination shall be final.

(e) Any extension of time for the report and payment of a deposit account to the State Comptroller as abandoned property pursuant to this section shall apply to such account only and shall not serve to extend the time for reporting and payment of any other abandoned property as required by law.

Part 114 REPORT OF PROPERTY DEEMED ABANDONED

2 CRR-NY 114.1 Report of abandoned property {#sec-2-crr-ny-114.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 114.1}

(a) On or before the first day of July, 1980, and on or before the first day of April in each succeeding year, every domestic insurer, foreign insurer authorized to do business in this State or agent or agency thereof shall make a verified written report to the State Comptroller, which shall contain a true and accurate statement, as of the first day of January next preceding, of all abandoned property specified in section 1316 of the Abandoned Property Law held or owing by it.

(b) Such report shall set forth:

(1) the name and last known address of any person or persons appearing from the records of such insurer, agent or agency to be entitled to receive any such abandoned property;

(2) the amount appearing from the records of such insurer, agent or agency to be due;

(3) the policy number and the nature or type of insurance coverage represented by such amount;

(4) the date such abandoned property became payable and the number of any instrument issued in payment thereof; and

(5) such other identifying information as the State Comptroller may require.

(c) Such report shall be in such form and the abandoned property listed shall be classified in such manner as the State Comptroller may prescribe. Names of persons appearing to be entitled to such property appearing in such report shall be listed in alphabetical order within each classification.

(d) In case any such insurer, agent or agency shall on the first day of January in any year neither hold nor owe any abandoned property specified in section 1316 of the Abandoned Property Law, it shall on or before the first day of April next succeeding make a verified written report to the State Comptroller so stating.

2 CRR-NY 114.2 Property which shall have ceased to be abandoned {#sec-2-crr-ny-114.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 114.2}

(a) Any abandoned property held or owing by an insurer or its agent or agency pursuant to section 1316 of the Abandoned Property Law to which the right to receive the same is established to the satisfaction of such insurer, agent or agency, and payment of which is made to the entitled person between the first day of January and the 31st day of August of the year in which such property is reported to the State Comptroller as abandoned, shall cease to be deemed abandoned.

(b) Payment of abandoned property to the State Comptroller pursuant to subdivision 4 of section 1316 of the Abandoned Property Law shall be accompanied by a statement setting forth such information as the State Comptroller may require relative to such abandoned property as shall have ceased to be abandoned.

2 CRR-NY 114.3 Reimbursement for claims paid by insurers or their agents or agencies {#sec-2-crr-ny-114.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 114.3}

Any insurer, agent or agency which has paid to the State Comptroller monies deemed abandoned property, pursuant to the provisions of section 1316 of the Abandoned Property Law, may make payment to any person entitled to all or any part thereof and shall thereby acquire all of the rights of such person to payment by the State Comptroller.

Part 115 REPORT OF PROPERTY DEEMED ABANDONED PURSUANT TO SECTION 1315 OF THE ABANDONED PROPERTY LAW

2 CRR-NY 115.1 Property to be reported {#sec-2-crr-ny-115.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 115.1}

Property deemed abandoned pursuant to subdivision (1), (1-a) or (1-b) of section 1315 of the Abandoned Property Law shall include, but not be limited to:

(a) any unclaimed amount representing gift certificates sold after December 31, 1983, including gift certificates for merchandise only, remaining unclaimed for five years;

(b) any amount representing outstanding checks issued on and after July 1, 1974 in payment for goods or for services, and any unclaimed amount received after July 1, 1974 for services not rendered or for goods not delivered that has remained unclaimed by the owner thereof for three years;

(c) property referred to in subdivision (b) of this section shall include, but not be limited to: deposits or payments for repairs not made or purchases of goods or services not delivered; unrefunded overcharges; accounts payable balances, credit balances, accounts receivable credit balances, rebates, and outstanding checks issued to vendors and suppliers of goods or services.

2 CRR-NY 115.2 Report of abandoned property {#sec-2-crr-ny-115.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 115.2}

(a) Verified written reports of property deemed abandoned pursuant to section 1315 of the Abandoned Property Law must be filed with the State Comptroller.

(b) Such report shall be in such form as the State Comptroller may prescribe and shall set forth therein:

(1) the name and last known address, if any of the person or entity appearing to be entitled to such property;

(2) a description of such abandoned property;

(3) the amount of such abandoned property;

(4) the date such amount was demandable, payable or received; and

(5) such other identifying information as the State Comptroller may require.

(c)

(1) Unpaid checks or drafts issued by the State of New York deemed abandoned under subdivision (4) of section 1315 of the Abandoned Property Law shall be reported to the State Comptroller on or before the 10th day of June in each year and shall be accompanied by payment to the State Comptroller of all property which on the preceding 31st day of December was deemed abandoned property pursuant to subdivision (4) of section 1315 of the Abandoned Property Law excepting such property as since such date has ceased to be abandoned.

(2) All other property deemed abandoned under section 1315 of the Abandoned Property Law shall be filed with the State Comptroller on or before the 10th day of March in each year and shall be accompanied by payment to the State Comptroller of all property which on the preceding 31st day of December was deemed abandoned property pursuant to section 1315 of the Abandoned Property Law excepting such property as since such date has ceased to be abandoned.

2 CRR-NY 115.3 Reimbursement for property paid {#sec-2-crr-ny-115.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 115.3}

An entity which has paid to the State Comptroller abandoned property pursuant to section 1315 of the Abandoned Property Law may make payment to the person entitled thereto, and may file claim for reimbursement for such payment by the State Comptroller, who shall, upon satisfactory proof of such payment and after audit, reimburse such entity. Such reimbursement shall be limited to the amount paid the State Comptroller by such entity.

Part 116 PUBLICATION OF NOTICES OF ABANDONED PROPERTY IN NON-ENGLISH LANGUAGE NEWSPAPERS

2 CRR-NY 116.1 Authority and purpose of report {#sec-2-crr-ny-116.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 116.1}

Subdivision 2 of sections 302, 402, 601 and 702 of the Abandoned Property Law permit notices of abandoned property to be published in English language newspapers and in additional newspapers printed in a language other than English, pursuant to regulations enacted by the State Comptroller. This regulation is intended to assure that residents of New York not reasonably literate in the English language will nevertheless be informed of the existence of unclaimed property to which they may be entitled. Pursuant to this authority, the following procedures are established for the publication of lists of abandoned property in newspapers printed in a language other than English. The procedures must be followed by any holder of abandoned property which elects to publish in a non-English language newspaper.

2 CRR-NY 116.2 Preparation of the report {#sec-2-crr-ny-116.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 116.2}

(a)

(1) Holders of abandoned property subject to the publication requirements of the Abandoned Property Law shall review their books and records for information indicative of the literacy in English of the apparent owners of such property. If such information is not presently available in the books and records, it should be obtained as new contacts are made with persons for whom property is or will be held.

(2) On the basis of available information, these holders shall identify those apparent owners of abandoned property required to be listed in an English-language published notice, who might need additional notice in a language other than English in order to be informed of the existence of such property.

(b) If the holder so elects, apparent owners identified in this section, shall be listed in a separate report to the State Comptroller, concurrent with the submission of the holder's preliminary report of abandoned property, or in the case of holders reporting under article VI of the Abandoned Property Law, by January 15th of each year. Such report shall contain the name(s) and address(es) of each person, the appropriate language other than English in which the notice should be published for each listed person, and the suggested newspaper(s) in which such notices should be published.

(c) Any holder which does not elect to publish in a non-English language newspaper shall file with the State Comptroller a statement so stating, such statement to be attached to and made a part of the holder's annual report of abandoned property.

2 CRR-NY 116.3 Designation of newspapers {#sec-2-crr-ny-116.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 116.3}

Within 15 days of receipt of the separate report authorized by section 116.2 of this Part, the State Comptroller will inform holders of abandoned property of the newspapers published in a language other than English in which each item listed in such separate report may be published.

2 CRR-NY 116.4 Payment of publication {#sec-2-crr-ny-116.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 116.4}

Section 1409 of the Abandoned Property Law provides that any amount paid by a person to a newspaper or newspapers for any publication of names as required by the Abandoned Property Law shall be charged pro rata against all abandoned property held or owing by such person at the time of such publication, except abandoned property of individual amounts of less than $50.

The publication required by the Abandoned Property Law, within the meaning of section 1409, is publication in an English language newspaper. Publication in a newspaper printed in a language other than English shall not be deemed a required publication within the meaning of section 1409, and the costs thereof shall be a charge against the holder.

2 CRR-NY 116.5 Waiver of publication {#sec-2-crr-ny-116.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 116.5}

The waiver of publication requirements as set forth in Part 117 of this Title are applicable in implementing the requirements of these rules.

Part 117 WAIVER OF ABANDONED PROPERTY PUBLICATION REQUIREMENTS

2 CRR-NY 117.1 Waiver of publication requirements {#sec-2-crr-ny-117.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 117.1}

(a) Pursuant to the authority vested in the State Comptroller by section 1411 of the Abandoned Property Law, publication of a notice required by section 302, 601, 702 or 1316 of such law shall be waived in its entirety when the aggregate amount of the individual items to be published in a single publication is:

(1) less than $10,000 with respect to a publication in a county located within the city of New York; or

(2) less than $2,500 with respect to a publication in a county, city or village located outside the city of New York.

(b) Pursuant to the authority vested in the State Comptroller by section 1411 of the Abandoned Property Law, publication of a notice required by section 302, 601, 702 or 1316 of such law shall be waived for specific names and last known addresses of persons apparently entitled to items of property listed in the report of abandoned property when:

(1) the estimated cost of publication to be charged against an individual item of listed property, pursuant to section 1409 of the Abandoned Property Law, will exceed 20 per centum of the amount or value of such individual item. This determination is to be based upon the estimated cost of publication applied to each listed item of $50 or more on a pro rata basis, as shown in the report of abandoned property, and will not be subject to further adjustments by reason of items being withdrawn from publication by reason of the application of the 20 per centum rule; or

(2) the property consists of amounts held for payment of negotiable instruments and the following conditions are met:

(i) the reporting entity has compiled a listing of well-known persons or organizations appearing to be entitled to such amounts as shown on its annual report of abandoned property for which it believes publication should not be required;

(ii) such listing has been forwarded to the State Comptroller concurrent with the reporting entity's submission of its annual report of abandoned property, for review to determine whether or not a waiver of publication is warranted for the persons or organizations so listed; and

(iii) the reporting entity has on file, subject to review by the State Comptroller, documentation establishing that the listed persons or organizations have been notified regarding the property concerned.

(c) Pursuant to the authority vested in the State Comptroller by section 1411 of the Abandoned Property Law, publication of a notice required by section 302, 601, 702 or 1316 of such law may be waived for specific names and last known addresses of persons apparently entitled to items of property listed in the report of abandoned property when special circumstances make it desirable that such information not be published and written consent for such waiver is obtained from the State Comptroller at least 30 days prior to the statutory publication date.

Part 118 RULES AND REGULATIONS FOR THE SCHEDULING, ADJOURNING AND CONDUCT OF ADMINISTRATIVE HEARINGS RELATING TO COMPLIANCE WITH THE ABANDONED PROPERTY LAW

2 CRR-NY 118.1 Background {#sec-2-crr-ny-118.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.1}

WHEREAS, Section 301(3) of the State Administrative Procedure Act, as added by chapter 1059 of the Laws of 1981, directs that administrative agencies shall adopt rules and regulations governing the procedures to be followed in adjudicatory proceedings and appeals; and

WHEREAS, Section 1412 of the Abandoned Property Law authorizes the Comptroller, or a person designated by him, to convene an administrative hearing to certify an amount due and owing from a holder of abandoned property pursuant to the provisions of the Abandoned Property Law; and

WHEREAS, Section 1414 of the Abandoned Property Law authorizes the Comptroller to promulgate such rules and regulations as he may deem necessary to enforce the provisions of the Abandoned Property Law, it is, therefore, hereby:

Determined that the following rules and regulations be promulgated to establish the procedures to be followed for the conduct of administrative hearings as authorized by section 1412 of the Abandoned Property Law.

2 CRR-NY 118.2 Hearings; how instituted {#sec-2-crr-ny-118.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.2}

(a) Upon the failure of any holder of abandoned property to fully and completely report and pay or deliver such property to the State Comptroller pursuant to the Abandoned Property Law, the Comptroller shall issue a determination of abandoned property due and owing. Such determination shall be served by certified mail upon the person failing to report and pay or deliver, or such person's legally authorized representative, at the last known business address or residence.

(b) If a full and complete report and payment or delivery is not made by such person within 30 days following the receipt of the determination, then the Comptroller shall cause to be served, by certified mail, a notice of hearing upon such person or his legally authorized representative. Such notice of hearing shall include:

(1) a statement of the time, place and nature of the hearing;

(2) a statement of the legal authority and jurisdiction under which the hearing is to be held;

(3) a reference to the particular statute or statutes involved; and

(4) a statement of the matters asserted which, for purposes of this regulation, shall include, but not be limited to, attaching a copy of the determination to said notice of hearing.

2 CRR-NY 118.3 Hearing officers {#sec-2-crr-ny-118.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.3}

(a) A hearing officer, duly designated in writing by the Comptroller, shall preside at the hearing. At the time that the notice of hearing is sent to the person failing to report and pay or deliver abandoned property, a copy of such designation shall be sent to such person or his legally authorized representative.

(b) Hearing officers are authorized to:

(1) administer oaths and affirmation;

(2) sign and issue subpoenas, at the request of any party, requiring attendance and giving of testimony by witnesses and the production of books, papers, documents and other evidence, and said subpoenas shall be regulated by the Civil Practice Law and Rules; and

(3) regulate the course of the hearings, set the time and place for continued hearings, and fix the time for the filing of briefs and other documents. Adjournments may be granted by the hearing officer only upon good cause and presentation of a written request therefor.

2 CRR-NY 118.4 Disclosure {#sec-2-crr-ny-118.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.4}

(a) The Comptroller shall cause to be sent a copy of the auditor's report issued by the Office of the State Comptroller, Bureau of Unclaimed Funds, to the person having failed to report and pay or deliver abandoned property, at the same time that the determination is mailed to such person.

(b) The disclosure of all books, papers, documents and other evidence material necessary, shall be within the sole discretion of the hearing officer.

2 CRR-NY 118.5 Evidence {#sec-2-crr-ny-118.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.5}

(a) The rules of evidence governing proceedings in the courts of the State shall not be rigidly enforced. Objections to evidentiary offers may be made and shall be noted in the record. All parties shall have the right of cross-examination of witnesses. Irrelevant, unduly repetitious or cumulative testimony or cross-examination may be excluded. Hearsay evidence shall be admissible in the discretion of the hearing officer.

(b) By agreement, the parties may stipulate as to any facts involved in the proceedings. Such stipulation, to be effective, must be duly noted in the stenographic record of the proceedings.

(c) All evidence shall be offered and made a part of the record, and all such documentary evidence may be received in the form of authenticated copies or excerpts.

2 CRR-NY 118.6 Witnesses {#sec-2-crr-ny-118.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.6}

Witnesses shall be sworn as authorized by law.

2 CRR-NY 118.7 Briefs {#sec-2-crr-ny-118.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.7}

The time, form and procedure for the filing of briefs and other memoranda shall be within the sole discretion of the hearing officer.

2 CRR-NY 118.8 Record {#sec-2-crr-ny-118.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.8}

The Comptroller shall furnish all parties and the hearing officer with a copy of any transcripts and exhibits. Additional copies of any transcripts may be furnished by the Comptroller, upon request, at the expense of the party making the request.

2 CRR-NY 118.9 Decision {#sec-2-crr-ny-118.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 118.9}

(a) The hearing officer shall render his decision based upon the entire record before him, and that decision shall be based upon substantial evidence found in the record. Findings of fact and conclusions of law shall be accompanied by a concise and explicit statement of the underlying facts supporting the findings.

(b) If the decision of the hearing officer is in favor of the State Comptroller, then the State Comptroller shall execute a written certification, upon his seal, specifying the abandoned property reportable and payable or deliverable to the State Comptroller. A copy of said certification shall be sent by certified mail to the person holding any such abandoned property.

(c) Pursuant to section 1412(4) of the Abandoned Property Law, the 90 days within which any aggrieved person may institute a special proceeding pursuant to article 78 of the Civil Practice Law and Rules shall begin to run when the certification is received by such aggrieved person.

Part 119 RULES AND REGULATIONS FOR THE SCHEDULING, ADJOURNING AND CONDUCT OF ADMINISTRATIVE HEARINGS RELATING TO CLAIMS FOR REFUND OF ABANDONED PROPERTY

2 CRR-NY 119.1 Background {#sec-2-crr-ny-119.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.1}

WHEREAS, Section 1406 of the Abandoned Property Law directs that the Comptroller, upon receipt of an application within four months of the issuance of a written determination denying a claim for the refund of abandoned property, shall hold a hearing to review and redetermine such claim; and

WHEREAS, Section 301 of the State Administrative Procedure Act mandates that agencies shall adopt rules governing the procedures on adjudicatory proceedings and appeals; and

WHEREAS, Section 1414 of the Abandoned Property Law authorizes the Comptroller to make such rules and regulations as he may deem necessary to enforce the provisions of the Abandoned Property Law, it is, therefore, hereby:

Determined that the following regulations shall be promulgated to determine the procedures which shall be observed and the rules which shall be followed for the scheduling of and conduct of such hearings.

2 CRR-NY 119.2 Notice of hearings {#sec-2-crr-ny-119.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.2}

(a) After receipt of a timely written demand for a hearing and redetermination of a claim for refund of abandoned property, the Bureau of Unclaimed Funds shall notify the claimant or, in the event the claimant is represented by counsel, the claimant's counsel, of the date a hearing on the claim will be held. The hearing shall be scheduled within a reasonable time following the receipt of such timely written demand.

(b) All notices of hearings shall specifically and plainly state the following:

(1) the time, place and date of the hearing;

(2) the purpose of the hearing;

(3) the right of the claimant to be represented by counsel;

(4) the procedure for obtaining an adjournment and its consequences; and

(5) the consequences of the claimant's failure to appear at a scheduled hearing.

(c) The notice shall be accompanied by a designation by the Comptroller of a hearing officer pursuant to section 1406 of the Abandoned Property Law. The seal of the Comptroller shall be affixed to such designation.

(d) The notice and designation shall be mailed to the claimant by certified mail and to his or her counsel or other authorized representative not less than three weeks before the date of the scheduled hearing.

2 CRR-NY 119.3 Conduct of hearings {#sec-2-crr-ny-119.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.3}

All hearings shall be conducted in an orderly manner in order to ascertain the substantive rights of the parties. The hearing officer, duly designated by the Comptroller, shall preside. The Comptroller may designate to serve as hearing officer either a qualified private party or a member of the staff of the Department of Audit and Control who has had no prior involvement in the claim. All witnesses shall testify under oath (or by affirmation) and a record of the proceedings shall be made and kept either by means of stenographic recording or tape recording at the discretion of the Comptroller. Where the total amount being claimed exceeds $1,000, a transcription of such record shall be made and furnished to the claimant or when the claimant is represented by counsel, to the claimant's counsel, and the cost of the preparation of the record shall be borne by the Bureau of Unclaimed Funds. Where the total amount being claimed does not exceed $1,000, a transcribed copy of such record shall only be made and furnished upon the request of the claimant or the Bureau of Unclaimed Funds with the cost of transcription of the record to be borne by the party or parties requesting a transcription of the record. The claimant or the claimant's counsel, the representative of the Bureau of Unclaimed Funds and the hearing officer may examine and cross-examine all parties and witnesses appearing at any hearing. All costs incurred by the claimant in retaining counsel and/or presenting witnesses shall be the sole responsibility of the claimant.

2 CRR-NY 119.4 Presentation of claimant's case {#sec-2-crr-ny-119.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.4}

The claimant shall state his case upon commencement of the proceeding. The claimant will have the opportunity at that time to offer proofs in support of his claim, to call and examine any and all witnesses on his behalf. Upon being sworn, the claimant may testify on his own behalf. In addition to the presentation of the claimant's case, the hearing officer may hear argument and entertain motions for dismissal or for other appropriate relief.

2 CRR-NY 119.5 Presentation of the case of the Bureau of Unclaimed Funds {#sec-2-crr-ny-119.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.5}

Upon completion of the claimant's case, the Bureau of Unclaimed Funds shall have the opportunity to offer proofs in opposition to the claimant's case and call and examine any and all witnesses on its behalf.

2 CRR-NY 119.6 Briefs and memoranda of law {#sec-2-crr-ny-119.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.6}

Briefs and memoranda of law shall be prepared and submitted upon request therefor by the hearing officer. The costs of such preparation and submission shall be borne by the party preparing the same.

2 CRR-NY 119.7 Adjournment of hearings and scheduling of subsequent hearings {#sec-2-crr-ny-119.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.7}

(a) In the absence of unforeseeable circumstances, a request for adjournment of the first date of any hearing must be submitted to the Bureau of Unclaimed Funds at least two business days or 48 hours, whichever is longer, prior to the scheduled date of such hearing.

(b) The adjournment of the initial hearing will be granted by the Bureau of Unclaimed Funds with the understanding that the claimant or the claimant's counsel, within 20 days after the adjournment, shall advise the Bureau of Unclaimed Funds of such date or dates convenient for the scheduling of a subsequent hearing. Failure to advise the Bureau of Unclaimed Funds of such date or dates will result in a hearing being scheduled by the Bureau of Unclaimed Funds without further consultation with the claimant or the claimant's counsel.

(c) Any request for an adjournment made during the course of a hearing shall be addressed to the hearing officer who shall have sole authority to grant or deny such request. If an adjournment is granted, the hearing officer shall schedule the date of resumption of the hearing upon consultation with the parties if the hearing officer so desires.

2 CRR-NY 119.8 Failure of claimant to appear {#sec-2-crr-ny-119.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.8}

The failure of the claimant or his representative to appear at a scheduled hearing without a timely and proper adjournment pursuant to section 119.7 of this Part will result in a dismissal of the claim for failure to prosecute.

2 CRR-NY 119.9 Decision and review {#sec-2-crr-ny-119.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 119.9}

(a) Upon completion of the cases of the claimant and the Bureau of Unclaimed Funds, and upon submission of all evidence in connection therewith, the hearing officer shall render a written decision upon the merits. Such decision shall set forth findings of fact and conclusions of law or reasons for the decision.

(b) A decision shall be in the form of a recommendation, signed by the hearing officer, to the Bureau of Unclaimed Funds. Within 10 business days of receipt of such a recommendation, the Comptroller shall make a written final determination with respect to such claim. The final determination shall set forth findings of facts and conclusions of law or reasons for the determination, provided that the final determination may adopt the findings of fact and conclusions of law or reasons as set forth in the decision of the hearing officer. The Comptroller's final determination shall be served upon the claimant or the claimant's counsel by mail, provided that where such determination in whole or in part affirms a denial of the claim, the determination shall be served by certified mail upon the claimant, or where the claimant is represented by counsel, then upon the claimant's counsel.

(c) Any decision of a hearing officer or any determination by the Comptroller shall be deemed final upon the date of the mailing of such decision of determination.

Part 120 PROCEDURES FOR QUALIFYING CERTAIN ENERGY CONSERVATION EXPENSES FOR REIMBURSEMENT

2 CRR-NY 120.1 Statement of purpose {#sec-2-crr-ny-120.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 120.1}

The purpose of this Part is to implement the provisions of section 127-a of the State Finance Law. Chapter 706 of the Laws of 1982 added paragraph g to section 5-107(1) of the Energy Law and section 127-a to the State Finance Law. Paragraph (g) requires the State Energy Office to assist in the establishment of procedures to qualify certain energy conservation expenses for reimbursement pursuant to section 127-a. Section 127-a provides that any facility, which has a current operating certificate issued by a State agency and is receiving reimbursement from such agency for qualified energy expenses, may annually apply to the agency to have included in such reimbursement, expenses incurred after July 1, 1982, and actually paid in each fiscal year, or, qualified expenses actually paid but not reimbursed in previous years, for construction, alteration, repair or improvement of the facility's capital assets for the purpose of conservation of energy. Such reimbursement is subject to the proviso that:

(a) the reimbursement for such expenses in any year does not exceed the estimated cost of energy saved in that year;

(b) the length of time of such payments does not exceed the estimated life of the energy conservation measures or the property affected, but in no event is greater than 15 years; and

(c) such estimates have been made in accordance with procedures established by the Department of Audit and Control.

Section 127-a further provides that the Comptroller shall promulgate rules and regulations for the implementation of the section.

2 CRR-NY 120.2 Development of procedures {#sec-2-crr-ny-120.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 120.2}

(a) Each State agency which issues an operating certificate and makes reimbursement to a facility for qualified energy expenses shall develop proposed procedures to qualify for reimbursement pursuant to section 127-a of the State Finance Law for expenses incurred by such facility for construction, alteration, repair or improvement of the facility's capital assets for the purpose of conservation of energy.

(b) In developing such proposed procedures, each such agency shall seek the assistance of the State Energy Office and the State Energy Office shall provide such assistance in accordance with section 5-107(1)(g) of the Energy Law and this Part.

(c) The proposed procedures shall include the following:

(1) a procedure for processing applications for reimbursement of qualified energy conservation expenses;

(2) a procedure for determining the “estimated cost of energy saved” in a fiscal year; and

(3) a procedure for determining the “estimated life of the energy conservation measures or the property affected,” including guideline estimated lives for such measures.

2 CRR-NY 120.3 Establishment of procedures {#sec-2-crr-ny-120.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 120.3}

(a) Within 120 days after this Part takes effect, or on such later date as the State Energy Office shall determine, each agency shall submit the proposed procedures which it has developed to the State Energy Office for its final review and approval. The State Energy Office shall monitor the proposed procedures of all agencies for completeness, accuracy, feasibility and overall consistency and modify the proposed procedures in consultation with any agency affected, in such manner as it deems appropriate. Upon completion of its review of the proposed procedures, as modified, the State Energy Office shall approve them, in writing and submit them to the State Comptroller no later than 45 days after it shall have received the proposed procedures from the agencies or on such later date as the State Comptroller shall determine.

(b) The State Comptroller shall forthwith review all the proposed procedures of all agencies as approved and modified by the State Energy Office and modify them in such manner as he deems appropriate, in consultation with the State Energy Office and any agency affected by a proposed modification. Upon completion of his review of the proposed procedures, the State Comptroller shall approve them, and, as modified they shall constitute the procedures established by the Department of Audit and Control for the purpose of qualifying energy conservation expenses for reimbursement and shall be used by the State Comptroller as a basis for his audit of reimbursement of energy conservation expenses. A copy of such procedures shall be on file in the office of the State Comptroller in Albany and shall be available for inspection and copying by any interested party.

(c) The procedures may be amended or modified at any time by the State Comptroller after 10 days' written notice to the State Energy Office and any agency affected. Any such amendment or modification shall also be kept on file in the office of the State Comptroller.

Part 121 CLAIMS FOR REFUND OF ABANDONED CONDEMNATION AWARDS

2 CRR-NY 121.1 Claims for refund of abandoned condemnation awards {#sec-2-crr-ny-121.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 121.1}

(a) Claims less than $500.

(1) Every claimant to an award less than $500 shall be required to submit:

(i) a petition as hereinafter described;

(ii) a certified copy of the instrument by which he or she acquired title; and

(iii) a certified copy of the damage parcel map.

The claimant shall be required to annex to his petition copies of all papers involved in the chain of title for the 20 years immediately prior to the condemnation. The claimant must serve copies of the petition upon all interested parties so that all persons having adverse claims may present such claims to the State Comptroller in advance of his final determination. The petition referred to above must be verified, and set forth the true name and residence address of the claimant. The petition should recite in detail the basis of the claim and complete chain of title to the property covered by the award in question for at least 20 years prior to the time title vested in the condemnor or the date of the last full covenant and warranty deed, if there has been no such conveyance within the 20-year period. The petition should contain a recital that the claimant has not assigned the award and the said petition is made for the purpose of inducing the State Comptroller to pay over the award in question. Petition forms are available upon request from the Office of the State Comptroller, Division of Legal Services, 110 State Street, Albany, NY 12236-0001.

(2) No claim for payment of an award less than $500 shall be approved until the Attorney General shall certify to the State Comptroller that he has caused the records of the appropriate registry office to be examined, and that the instrument relied upon as the source of the claimant's title is on record and appears to evidence title of the claimant at the date of vesting in the condemnor in the premises taken or damaged.

(b) Claims $500 and over.

(1) A claimant to an award of $500 or more, which was held by the condemnor for the benefit of a known person or persons, shall, in addition to the petition as recited in subdivision (a) of this section, furnish an abstract of title going back 40 years from the date of vesting of title in the condemnor, by a title company or an abstract company authorized to make title searches in this State. No such claim shall be approved unless the Attorney General shall first certify to the State Comptroller that the claimant or his predecessor in interest had good title to the parcels, the taking of or damage to which was the basis of the award. Also, a certified copy of the damage map relating to the damage parcel involved must accompany the petition. The claimant must serve copies of said petition referred to upon all interested parties as stated in subdivision (a) of this section.

(2) Claim to any abandoned condemnation award, which was held by the condemnor for the benefit of an unknown person or persons, or, where a claimant seeks to enforce an equitable lien upon an award which was held by the condemnor, must be pursued in Supreme Court for the county in which the condemned property is located, pursuant to section 1406(6) of the Abandoned Property Law.

Part 122 SURETY BOND REQUIREMENT IN CERTAIN ABANDONED PROPERTY CLAIMS

2 CRR-NY 122.1 Surety bond requirement in certain abandoned property claims {#sec-2-crr-ny-122.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 122.1}

As a condition precedent to payment of a refund of abandoned property held by him, the State Comptroller may require that the claimant furnish him with a surety bond, issued by a corporate surety authorized to do business in this State, wherein the principal and surety will agree to save harmless the State of New York, the State Comptroller and his successors in office, from any loss or damage by reason of the payment to the claimant.

Part 123 FORMS AND PROCEDURES FOR THE REPORTING AND PAYMENT OF ABANDONED PROPERTY

2 CRR-NY 123.1 Filing of abandoned property reports {#sec-2-crr-ny-123.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.1}

(a) All holders of abandoned property required to report such property pursuant to the Abandoned Property Law may submit their reports of abandoned property using an approved electronic format or on form AC 2686, Report of Abandoned Property (Appendices 16 and 16-A of this Title, infra). "Approved electronic format" shall consist of formats approved by the Comptroller. In no event will magnetic cartridges be permitted or accepted as an approved electronic format by the Comptroller. Information concerning approved electronic formats may be obtained by contacting the Comptroller's Office of Unclaimed Funds.

(b) All reports of abandoned property, whether on an approved electronic format, or on form AC 2686, must be accompanied by a completed and notarized form AC 2709, Verification and Checklist for Unclaimed Property (Appendices 17 and 17-A of this Title, infra), signed by an authorized officer certifying that said report is true and complete to the best of said authorized officer's knowledge.

2 CRR-NY 123.2 [Repealed] {#sec-2-crr-ny-123.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.2}

2 CRR-NY 123.3 Negative reports {#sec-2-crr-ny-123.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.3}

Organizations which neither hold nor owe abandoned property, but are required by the applicable provisions of the Abandoned Property Law to submit an abandoned property report, shall submit a negative report consisting of form AC 2709, Verification and Checklist for Unclaimed Property (Appendices 17 and 17-A of this Title, infra), showing the report date, all requested information identifying the reporting organization, contact personnel, and the word “None” entered on each of the “Totals” lines. The form must be signed by an authorized officer of the reporting organization whose signature must be notarized. Holders are responsible for ascertaining whether the Abandoned Property Law requires their organizations to file negative reports.

2 CRR-NY 123.4 Time of filing abandoned property reports {#sec-2-crr-ny-123.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.4}

(a) All reports of abandoned property, including negative reports and preliminary reports, shall be filed at the times required by the provisions of the Abandoned Property Law pertaining to the particular type of holding organization. Holders are responsible for determining when they are required to file reports applicable to their organizations.

(b) Upon written approval of the administrator of the Office of Unclaimed Funds, the time for filing required reports may be extended upon request by a holder. No such approval may be granted unless:

(1) such request is made in writing prior to the time such report is due; and

(2) in the absence of a written request prior to the time such report is due, the administrator determines that special circumstances warrant approval of the request for extension.

2 CRR-NY 123.5 Manual reporting instructions {#sec-2-crr-ny-123.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.5}

Reports filed manually on form AC 2686 must be typewritten and shall be prepared in accordance with the instructions for preparing abandoned property reports—as set forth in the Handbook for Reporters of Unclaimed Funds.

2 CRR-NY 123.6 [Repealed] {#sec-2-crr-ny-123.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.6}

2 CRR-NY 123.7 Delivery of securities {#sec-2-crr-ny-123.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.7}

All reported positions must be delivered at the time the abandoned property reports are filed. It is recommended that, where possible the delivery of abandoned securities to the State Comptroller be made by means of book entries via the Depository Trust Company (DTC). The following instructions relate to the reporting of abandoned securities whether the report is in an electronic format or on paper form AC 2686, Report of Abandoned Property, for securities physically delivered to the Office of Unclaimed Funds, transmitted via DTC to the Office of Unclaimed Funds' broker, or transferred to an account registered to the State Comptroller.

(a) DTC wire transfer.

(1) All regular securities information must be completed.

(2) Place the letter “D” in the method of transfer field.

(3) In addition to the regular security information all DTC wire transfers must contain additional delivery instructions. For the additional delivery instructions please call the Office of Unclaimed Funds at (800) 221-9311 in New York State, outside New York (518) 270-2200.

(4) Send all DTC wire notices with your abandoned property report.

(b) Physical delivery of securities.

(1) All required securities information must be completed.

(2) Place the letter “P” in the method of transfer field.

(3) The securities, Report of Abandoned Property, and payments must be addressed to New York State Comptroller, Office of Unclaimed Funds, 110 State Street, Albany, NY 12236-0001. Registered or certified mail is recommended.

(c) Account/journal transfer.

(1) All required securities information must be completed.

(2) Place a letter “A” in the method of transfer field.

(3) A copy of an account statement which confirms the transfer of shares into the Comptroller's Account should accompany the remittance and abandoned property report.

(d) Undeliverable positions.

(1) The Office of Unclaimed Funds should be contacted prior to using the letter “T” as a method of transfer.

2 CRR-NY 123.8 Penalties {#sec-2-crr-ny-123.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.8}

Holders failing to file full and complete reports in the manner prescribed by the Comptroller may be subject to the penalty provisions of section 1412 of the Abandoned Property Law. These provisions include a $100 per day penalty for each day any report or affidavit required by such law shall be willfully delayed or withheld.

2 CRR-NY 123.9 Information, written requests and filing of reports and remittances {#sec-2-crr-ny-123.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.9}

Reports, remittances and requests for extensions, waivers, additional information or forms should be referred to New York State Comptroller, Office of Unclaimed Funds, 110 State Street, Albany, NY 12236-0001, (800) 221-9311 in New York State, outside New York (518) 270-2200.

2 CRR-NY 123.10 Expedited payment program {#sec-2-crr-ny-123.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 123.10}

As provided for in section 1407 of the Abandoned Property Law, the comptroller may, notwithstanding whether a claim is filed, return any property paid or delivered to the State comptroller under the Abandoned Property Law, or proceeds from the sale thereof, to an apparent owner after verification, in a manner and form prescribed by the comptroller, that the apparent owner is the rightful owner of the property; and, for the calendar year beginning January 1, 2026 and thereafter, the comptroller shall determine the value of property to be paid or delivered under the program, which shall be property valued at up to $5,000. Such value shall remain in effect until re-established by the comptroller.

Part 124 PROCEDURE FOR THE VOLUNTARY DISPOSITION OF INTANGIBLE PERSONAL PROPERTY

2 CRR-NY 124.1 Background {#sec-2-crr-ny-124.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 124.1}

WHEREAS, section 1310 of the Abandoned Property Law, as added by chapter 592 of the Laws of 1993, directs the Comptroller to adopt regulations governing the acceptance of the voluntary disposition of any intangible personal property not otherwise subject to the Abandoned Property Law; and

WHEREAS, section 1414 of the Abandoned Property Law authorizes the Comptroller to promulgate such rules and regulations as the Comptroller may deem necessary to enforce the provisions of the Abandoned Property Law, it is, therefore, hereby:

Determined that the following rules and regulations be promulgated to establish the procedure to be followed for the voluntary disposition of intangible personal property, as authorized by section 1310 of the Abandoned Property Law.

2 CRR-NY 124.2 Request {#sec-2-crr-ny-124.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 124.2}

A request for the voluntary disposition of intangible personal property (including but not limited to currency and the proceeds of the sale of tangible property) not otherwise subject to the Abandoned Property Law shall be in the form of a sworn notarized statement which specifically and plainly states the following:

(a) the petitioner holds or is in possession of intangible personal property which has remained unclaimed for a period of two years or more by the person or persons appearing to be entitled to possess such property;

(b) the measures taken by the petitioner constituting a diligent search for the whereabouts of the entitled person or persons;

(c) upon information and belief, the entitled person or persons have made no attempt to claim the property; and

(d) the petitioner desires to deliver the property to the State Comptroller pursuant to section 1310 of the Abandoned Property Law.

2 CRR-NY 124.3 Determination {#sec-2-crr-ny-124.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 124.3}

(a) Within 30 days of the receipt of a request pursuant to section 124.2, the Comptroller shall send a written determination to the petitioner which shall either:

(1) consent to the request;

(2) consent to the request subject to such conditions as the Comptroller deems necessary and appropriate; or

(3) deny the request.

(b) Any determination made by the Comptroller placing conditions upon the consent or denying consent shall specifically state the basis for such determination.

2 CRR-NY 124.4 Review {#sec-2-crr-ny-124.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 124.4}

The period of time within which the petitioner may make application for review of the Comptroller's determination pursuant to article 78 of the Civil Practice Law and Rules shall begin to run five days after the mailing of such determination.

2 CRR-NY 124.5 Payment or delivery of property {#sec-2-crr-ny-124.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 124.5}

Payment or delivery of property pursuant to this section shall be accompanied by:

(a) an abandoned property report in a format as designated by the Comptroller;

(b) the last known mailing address, social security number and any other identifying information regarding the person or persons entitled to the property; and

(c) if no identifying information is available, the petitioner's statement indicating that such information is not available.

Part 125 ELECTRONIC CONTACT

2 CRR-NY 125.1 Electronic contact {#sec-2-crr-ny-125.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 125.1}

(a) For the purposes of satisfying the dormancy requirements in the Abandoned Property Law, the following methods of electronic contact and electronic account activity shall constitute written communication, writing, and written evidence, as used in the Abandoned Property Law:

(1) the receipt of electronic mail (email) communication from the entitled account holder of the property that matches the registered email address on record; or

(2) evidence that the entitled account holder has accessed their personal account through the electronic method made available by the holder of the property, including but not limited to, a website, mobile application, or any other reasonable electronic method.

(b) Evidence of electronic contact or electronic account activity within the relevant dormancy period in the Abandoned Property Law can be cited to prevent the property from being deemed abandoned.

Part 126 DECEASED PERSONS

2 CRR-NY 126.1 Deceased Persons {#sec-2-crr-ny-126.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 126.1}

If a holder, in the ordinary course of business, receives notice or an indication of the death of an owner, the holder shall attempt to confirm whether the owner is deceased no later than 90 days after notice or indication of death. Notwithstanding any provision of the abandoned property law and any other law to the contrary, once the death of the apparent owner has been confirmed by the holder of the property, such property shall be subject to the dormancy period and the mandatory reporting applicable to such property as set forth in the abandoned property law. The dormancy period shall commence on the date of death.

Part 129 CLAIMS FOR ABANDONED PROPERTY INCLUDING THOSE INVOLVING AN ABANDONED PROPERTY LOCATION SERVICES AGREEMENT

2 CRR-NY 129.1 General provisions {#sec-2-crr-ny-129.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 129.1}

(a) The comptroller shall not reveal any confidential information including the value of abandoned property to any claimant or the claimant’s agent unless such person provides proof of an interest in the abandoned property and the following:

(1) a claim form, or other supplemental claim form deemed necessary by the comptroller signed by the person making claim and duly acknowledged by the person in the manner prescribed for the acknowledgment of a conveyance of real property in accordance with the Real Property Law;

(2) where the claim is submitted by a person or entity acting pursuant to an abandoned property location services agreement, as that term is used in section 1416 of the Abandoned Property Law, the person or entity submitting the claim must present to the comptroller an abandoned property location services agreement, which complies with the requirements of section 1416 of the Abandoned Property Law, and which:

(i) lists the claimant's current address;

(ii) except where there is a separate power of attorney or other agency designation, authorizes the abandoned property location services provider to act on the claimant’s behalf to claim the property;

(iii) is signed by the claimant and such signature has been duly acknowledged by the claimant in the manner prescribed for the acknowledgment of a conveyance of real property in accordance with the Real Property Law; and

(iv) in the case of a claim in excess of $1,000 on behalf of an estate representative appointed by a New York State surrogate’s court, including a person certified under article 13 of the Surrogate’s Court Procedure Act, proof that the abandoned property location services agreement has been duly filed with the surrogate's court that appointed such estate representative, as required by section 13-2.3 of the Estates, Powers and Trusts Law.

(b) Subdivision (a) of this section may be waived within the discretion of the comptroller provided that the comptroller determines that satisfactory proof has otherwise been submitted by the claimant or his or her representative establishing that the claimant is the owner of the abandoned property.

Part 130 CLAIM FOR FUNDS HELD BY THE OFFICE OF UNCLAIMED FUNDS OWED TO A DECEDENT OR A DECEDENT’S ESTATE QUALIFYING AS A SMALL ESTATE

2 CRR-NY 130.1 Purpose {#sec-2-crr-ny-130.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 130.1}

Surrogate’s Court Procedure Act section 1310 permits, but does not require, debtors to discharge debts to a decedent or a decedent’s estate, by making payment to certain relatives or creditors of the decedent. The purpose of this regulation is to set forth the circumstances under which the comptroller will exercise his or her discretion under such provision to discharge debts owed to decedents or their estates with respect to property held under the Abandoned Property Law by payment of claims submitted by a decedent’s relatives and creditors, and to set forth processes by which other claims not exceeding $30,000 may be made.

2 CRR-NY 130.2 Acceptance of affidavits under SCPA section 1310 {#sec-2-crr-ny-130.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 130.2}

(a) A spouse, child, unreimbursed payor of funeral expenses, and the Department of Social Services or a social services district may submit claims through an affidavit pursuant to section 1310 of the Surrogate’s Court Procedure Act up to the maximum amounts allowed by that section. A spouse or child must also submit a Table of Heirs on a form provided by the Office of Unclaimed Funds.

(b) Heirs or creditors, other than those set forth in subdivision (a) of this Part, may only submit an affidavit pursuant to section 1310 of the Surrogate’s Court Procedure Act when the total amount being claimed does not exceed $1,000 in value. In the case of an heir, the claimant must also submit a Table of Heirs on a form provided by the Office of Unclaimed Funds.

(c) Heirs or creditors as set forth in subdivision (b) of this Part, in order to claim to funds in excess of $1,000 in value, must be appointed as an estate representative (including a voluntary administrator) of the decedent’s estate by the appropriate Surrogate’s Court, or in the case of a non-New York decedent, by the appropriate court of the state of domicile of the decedent. After having been appointed, the estate representative must provide to the Office of Unclaimed Funds a currently dated certificate of letters from the appropriate Surrogate’s Court, or similar documents with respect to an estate representative appointed for a non-New York domiciliary.

2 CRR-NY 130.3 Other requirements {#sec-2-crr-ny-130.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 130.3}

Any heir or creditor must also provide any and all documents required by the Office of Unclaimed Funds which are necessary to prove the decedent’s identity and entitlement to the funds, or are otherwise necessary in order for the Office of Unclaimed Funds to meet all of its statutory obligations or approve the claim.

Part 131 RULES AND REGULATIONS FOR THE SCHEDULING, ADJOURNING AND CONDUCT OF ADMINISTRATIVE HEARINGS RELATING TO THE RECOVERY OF ERRONEOUS PAYMENTS AND OVERPAYMENTS MADE BY THE OFFICE OF UNCLAIMED FUNDS

2 CRR-NY 131.1 Background {#sec-2-crr-ny-131.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.1}

WHEREAS, section 1406 of the Abandoned Property Law provides that the comptroller, shall have the full and complete authority to determine the validity of abandoned property claims and to provide claimants with notice of his determination; andWHEREAS, section 1406 further provides that a claimant may, at any time within four months of such a determination by the comptroller, apply for a hearing and a redetermination of his claim, and that the comptroller, after an appropriate hearing on notice before the comptroller or a person designated by him, shall make and serve a final determination; andWHEREAS, from time to time where a claim for abandoned funds has been previously paid, the comptroller may determine upon audit and review that such payment was erroneous in whole or part due to misrepresentation, fraud, or mistake; andWHEREAS upon a determination that an erroneous payment has been made, the comptroller may advise the claimant/payee of such determination and make a demand of the claimant/payee for repayment; andWHEREAS such demand constitutes a determination by the comptroller under section 1406 thus entitling the claimant/payee to a hearing and redetermination; andWHEREAS, section 1414 of the Abandoned Property Law authorizes the comptroller to make such rules and regulations as he may deem necessary to enforce the provisions of the Abandoned Property Law;THEREFORE, it is hereby determined that the following regulations shall be promulgated to determine the procedures which shall be observed and the rules which shall be followed for the scheduling of and conduct of such hearings.

2 CRR-NY 131.2 Notice of determination of erroneous payment {#sec-2-crr-ny-131.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.2}

(a) When the comptroller determines that a claim previously approved and paid was approved and paid erroneously, in whole or in part, due to misrepresentation, fraud or mistake, the comptroller shall issue a determination in writing to that effect together with a demand for repayment. The comptroller shall also advise the claimant/payee that he or she may within four months of such determination request a hearing and redetermination and provide information as to whom such request is to be sent.

(b) If the claimant/payee does not, within four months of the issuance of a notice pursuant to subdivision (a) of this section, either make payment in full or request a hearing and redetermination, then the determination that an erroneous payment was made shall be final, and the comptroller may take any lawful action, including but not limited to recovery through the State Wide Offset Program pursuant to sections 171-d and 171-f of the New York Tax Law.

2 CRR-NY 131.3 Notice of hearing {#sec-2-crr-ny-131.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.3}

(a) Where a claimant/payee makes a timely written demand for a hearing and redetermination, the Office of Unclaimed Funds, or its designee, shall notify the claimant/payee or, in the event the claimant/payee is represented by counsel, the claimant/payee's counsel, of the date a hearing will be held. The hearing shall be scheduled within a reasonable time following the receipt of such timely written demand.

(b) All notices of hearings shall specifically and plainly state the following:

(1) the time, place and date of the hearing;

(2) the purpose of the hearing;

(3) the right of the claimant/payee to be represented by counsel;

(4) the procedure for obtaining an adjournment and its consequences; and

(5) the consequences of the claimant/payee's failure to appear at a scheduled hearing.

(c) The notice shall be accompanied by a designation by the comptroller of a hearing officer pursuant to section 1406 of the Abandoned Property Law. The seal of the comptroller shall be affixed to such designation.

(d) The notice and designation shall be mailed by certified mail to the claimant/payee or to the claimant/payee’s counsel or other authorized representative not less than three weeks before the date of the scheduled hearing.

2 CRR-NY 131.4 Conduct of hearings {#sec-2-crr-ny-131.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.4}

All hearings shall be conducted in an orderly manner in order to ascertain the substantive rights of the parties. The hearing officer, duly designated by the comptroller, shall preside. The comptroller may designate to serve as hearing officer either a qualified private party or a member of the staff of the Department of Audit and Control who has had no prior involvement in the claim. All witnesses shall testify under oath (or by affirmation) and a record of the proceedings shall be made and kept either by means of stenographic recording or tape recording at the discretion of the comptroller. Where the total amount being demanded exceeds $ 1,000, a transcribed copy of such record shall be made and furnished to the claimant/payee or when the claimant/payee is represented by counsel, to the claimant/payee's counsel, and the cost of the preparation of the record shall be borne by the Office of Unclaimed Funds. Where the total amount being demanded does not exceed $ 1,000, a transcribed copy of such record shall only be made and furnished upon the request of the claimant/payee or the Office of Unclaimed Funds with the cost of transcribed copy of the record to be borne by the party or parties requesting such copy. The claimant/payee or the claimant/payee's counsel, the representative of the Office of Unclaimed Funds and the hearing officer may examine and cross-examine all parties and witnesses appearing at any hearing. All costs incurred by the claimant/payee in retaining counsel and/or presenting witnesses shall be the sole responsibility of the claimant/payee.

2 CRR-NY 131.5 Presentation of the payee's case {#sec-2-crr-ny-131.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.5}

The claimant/payee shall state his or her case upon commencement of the proceeding. The claimant/payee will have the opportunity at that time to offer proofs to support the claimant/payee’s position that the comptroller’s determination of an erroneous payment is incorrect and to call and examine any and all witnesses on behalf of the claimant/payee. Upon being sworn in, the claimant/payee may testify on his or her own behalf. In addition to the presentation of the claimant/payee's case, the hearing officer may hear argument and entertain motions for dismissal or for other appropriate relief.

2 CRR-NY 131.6 Presentation of the case of the Office of Unclaimed Funds {#sec-2-crr-ny-131.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.6}

Upon completion of the claimant/payee’s case, the Office of Unclaimed Funds shall have the opportunity to offer proofs in opposition to the claimant/payee’s case. The Office of Unclaimed Funds may call and examine any and all witnesses on its behalf.

2 CRR-NY 131.7 Briefs and memoranda of law {#sec-2-crr-ny-131.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.7}

Briefs and memoranda of law shall be prepared and submitted upon request therefor by the hearing officer. The costs of such preparation and submission shall be borne by the party preparing the same.

2 CRR-NY 131.8 Adjournment of hearing and scheduling of subsequent hearings {#sec-2-crr-ny-131.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.8}

(a) In the absence of unforeseeable circumstances, a request for adjournment of the first date of any hearing must be submitted to the Office of Unclaimed Funds at least two business days or 48 hours, whichever is longer, prior to the scheduled date of such hearing.

(b) The adjournment of the initial hearing will be granted by the Office of Unclaimed Funds with the understanding that the claimant/payee or the claimant/payee's counsel, within 20 days after the adjournment, shall advise the Office of Unclaimed Funds of such date or dates convenient for the rescheduling of a hearing. Failure to advise the Office of Unclaimed Funds of such date or dates will result in a hearing being scheduled by the Office of Unclaimed Funds without further consultation with the claimant/payee or the claimant/payee's counsel.

(c) Any request for an adjournment made during the course of a hearing shall be addressed to the hearing officer who shall have sole authority to grant or deny such request. If an adjournment is granted, the hearing officer shall schedule the date of resumption of the hearing upon consultation with the parties if the hearing officer so desires.

2 CRR-NY 131.9 Failure of claimant/payee to appear {#sec-2-crr-ny-131.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.9}

The failure of the claimant/payee or the claimant/payee’s representative to appear at a scheduled hearing without a timely and proper adjournment pursuant to section 131.8 of this Part will result in a finding that the comptroller’s determination of erroneous payment was correct and the comptroller may take any lawful action, including but not limited to recovery through the State Wide Offset Program pursuant to sections 171-d and 171-f of the New York Tax Law.

2 CRR-NY 131.10 Decision and review {#sec-2-crr-ny-131.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 131.10}

(a) Upon completion of the presentations of the claimant/payee and the Office of Unclaimed Funds, and upon submission of all evidence in connection therewith, the hearing officer shall render a written decision upon the merits. Such decision shall set forth findings of fact and conclusions of law or reasons for the decision.

(b) A decision shall be in the form of a recommendation, signed by the hearing officer, to the Office of Unclaimed Funds. Within 10 business days of receipt of such a recommendation, the comptroller shall make a written final determination with respect to such decision. The final determination shall set forth findings of facts and conclusions of law or reasons for the determination, provided that the final determination may adopt the findings of fact and conclusions of law or reasons as set forth in the decision of the hearing officer. The comptroller's final determination shall be served upon the claimant/payee or the claimant/payee's counsel by mail, provided that where such determination in whole or in part affirms the comptroller’s determination of an erroneous payment, the determination shall be served by certified mail upon the claimant/payee, or where the claimant/payee is represented by counsel, then upon the claimant/payee's counsel.

(c) Any decision of a hearing officer or any determination by the comptroller shall be deemed final upon the date of the mailing of such decision of determination.

Part 150 SERVICE AWARD PROGRAMS FOR VOLUNTEER AMBULANCE WORKERS

2 CRR-NY 150.1 Scope {#sec-2-crr-ny-150.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.1}

Article 11-AA of the General Municipal Law authorizes the establishment of defined contribution service award programs to provide municipally-funded, pension-like benefits for volunteer ambulance workers. Service award programs may be adopted by political subdivisions for the volunteer ambulance workers of ambulance companies which are either:

(a) under the control of the governing board of the political subdivision; or

(b) in the political subdivision and under contract with the governing board to provide service therein.

Adoption of a service award program requires the affirmative vote of at least 60 percent of the governing board of the political subdivision and the approval of a proposition at a referendum of the eligible voters of the political subdivision. Article 11-AA requires the service award programs to be centrally administered by the State Comptroller, or by an administrative service agency and/or one or more financial organizations selected by the comptroller. The comptroller is also required to promulgate rules and regulations for the programs. The rules and regulations must, at a minimum, include standards for the selection of financial organizations, the method and timing of contributions to the programs by local government sponsors, the reporting on individual participant accounts, matters relating to the preparation of a plan document and any other matter properly pertaining thereto.

2 CRR-NY 150.2 Definitions {#sec-2-crr-ny-150.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.2}

(a) Unless otherwise defined, the terms used in this Part shall have the same meaning as provided in article 11-AA of the General Municipal Law.

(b) In addition, as used in this Part:

(1) Account shall mean the bookkeeping account established for a participant by the administrator.

(2) Account balance shall mean, as of any given time, the value of all contributions credited to a participant's account, plus all interest, earnings and gains thereon, and minus all losses, distributions, forfeitures and necessary administrative costs charged thereto.

(3) Administrator shall mean the State Comptroller or, if the comptroller retains an administrative service agency or financial organization to perform the functions set forth in section 150.10 of this Part, such administrative service agency or financial organization.

(4) Participant shall mean a volunteer ambulance worker who is eligible for a benefit under a service award program.

(5) Prior service contribution means a contribution to a service award program made by the sponsor of the program on behalf of a participant for ambulance service rendered by the participant during any one of the five calendar years immediately preceding the adoption of the program.

(6) Sponsor means a county, city, town, village or ambulance district which adopts a service award program.

(7) Valuation date shall mean the last day of each calendar quarter, and each other day as may be determined by the administrator, as of which the administrator shall determine the value of the participants' account balances.

2 CRR-NY 150.3 Notice of adoption {#sec-2-crr-ny-150.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.3}

(a) On or before December 15, 1995, or within 30 days after the adoption of a service award program, whichever is later, the chief executive officer of the sponsor shall file with the Office of the State Comptroller in Albany, NY, two copies of a verified notice of adoption which shall contain the following:

(1) a statement of the date on which the governing board of the sponsor approved the resolution authorizing adoption of the program and the vote thereon, and a certified copy of the resolution;

(2) a statement of the date on which the eligible voters of the sponsor approved the proposition authorizing adoption of the program and the vote thereon, and a certified copy of the proposition;

(3) an opinion of legal counsel which shall:

(i) be addressed to the sponsor;

(ii) expressly provide that the administrator may rely thereon;

(iii) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to, the provisions of article 11-AA of the General Municipal Law and such other statutes as may be relevant, the resolution of the governing board of the sponsor authorizing the adoption of the program, proof of any posting and publication of required notice and the certificate certifying the result of the vote on the proposition authorizing the adoption of the program; and

(iv) express his or her opinion that the sponsor has undertaken all actions and proceedings required by law to adopt the program;

(4) a statement of the name, address and telephone number of the chief executive officer of the sponsor; and

(5) a statement of the name, address and telephone number of each ambulance company having volunteer ambulance workers who are potential participants in the program.

(b) Upon receipt of the notice of adoption, the State Comptroller's Office shall notify the chief executive officer of the name, address and telephone number of the administrator. If the administrator is not the State Comptroller, the State Comptroller's Office shall forward one copy of the notice of adoption to the administrator.

2 CRR-NY 150.4 Adoption agreement {#sec-2-crr-ny-150.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.4}

(a) Within 30 days of receipt of the notice of adoption provided for in section 150.3 of this Part, the administrator shall send to the chief executive officer of the sponsor a copy of the program document and two copies of a standard form of adoption agreement for the program.

(b) The form of adoption agreement shall contain a statement that the sponsor agrees to abide by the provisions of article 11-AA of the General Municipal Law, the rules and regulations promulgated thereunder and the program document, as amended from time to time. The form of adoption agreement shall be completed by incorporating the following terms of the program as determined by the sponsor:

(1) entitlement age;

(2) the number of years of ambulance service required for a participant to obtain a nonforfeitable right to a service award;

(3) the amount to be contributed to the program by the sponsor on behalf of each participant who is credited with a year of ambulance service; and,

(4) whether the sponsor shall make prior service contributions and, if so, the number of years for which such contributions shall be made and an irrevocable election to pay prior service contributions in the form of a single lump sum payment or in five equal annual installments as provided in section 150.7 of this Part.

(c) Within 30 days of receipt of the form of adoption agreement, the chief executive officer shall complete and execute two originals of the adoption agreement, retain one executed original of the adoption agreement and the program document as public records, and file one executed original of the adoption agreement with the administrator. The chief executive officer shall also cause a copy of the adoption agreement and program document to be provided to each ambulance company for which the program is adopted.

(d) The administrator shall rely on the terms of the program determined by the sponsor as set forth in the adoption agreement until such time as the chief executive officer of the sponsor files a notice of amendment or a notice of termination with the administrator as provided in section 150.9 of this Part.

2 CRR-NY 150.5 Collection of personal information {#sec-2-crr-ny-150.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.5}

(a) Except as provided in subdivision (b) of this section, annually, at such time and in such form as the administrator may require, the chief executive officer of the sponsor shall obtain from each ambulance company for which the program is established for submission to the administrator, and each ambulance company shall provide to the chief executive officer for such purpose, the following information for each volunteer ambulance worker of the ambulance company, whether or not such volunteer ambulance worker is a participant in the program:

(1) name;

(2) address;

(3) social security number;

(4) date of birth;

(5) ambulance company;

(6) beneficiaries; and

(7) such other information as the administrator determines necessary for the administration of the program.

(b) In lieu of requiring the chief executive officer of the sponsor to obtain the information specified in subdivision (a) of this section for submission to the administrator, the administrator may request the chief executive officer of an ambulance company to obtain and submit such information to the administrator. In such case, the chief executive officer of the ambulance company shall provide a copy of the information submitted to the administrator to the chief executive officer of the sponsor.

(c) The chief executive officer of the sponsor shall retain a copy of the information obtained pursuant to this section for use solely in connection with the administration of the service award program.

2 CRR-NY 150.6 Service credit {#sec-2-crr-ny-150.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.6}

(a) Each ambulance company for which a service award program is adopted shall maintain at all times for each volunteer ambulance worker of the company, whether or not a participant in the program, a record of the activities performed and points granted toward a year of ambulance service. The administrator may prescribe the form and manner of compiling and maintaining such records.

(b) On or before February 1st of each year, each ambulance company for which a service award program is adopted shall, except as provided in subdivision (f) of this section, prepare and submit to the governing board of the sponsor a list of all the volunteer ambulance workers of the company and which identifies all those who have qualified for credit for a year of ambulance service during the preceding calendar year. Such list shall be certified under oath by the president, secretary and chief or comparable officers of the ambulance company and shall be accompanied by such membership records or records of point accumulations as the governing board may require to substantiate the accuracy of the list.

(c) On or before March 1st of each year, the governing board of the sponsor shall review and approve each such certified list of volunteer ambulance workers and each volunteer ambulance worker thereon identified as having qualified for credit for a year of ambulance service during the preceding calendar year shall be credited with a year of ambulance service. Upon approval, the governing board shall cause the return of each list to the appropriate ambulance company and each ambulance company shall, immediately upon receipt, post the list in a conspicuous place at its principal headquarters for at least 30 days and maintain a record of the date on which the list is posted.

(d) Not later than 30 days after the approved list is posted by the ambulance company, any volunteer ambulance worker whose name does not appear on the list as having qualified for credit for a year of ambulance service may appeal to the governing board of the sponsor to have his or her name added to the list. The appeal shall be in writing and mailed to the clerk or secretary of the governing board of the sponsor. The governing board shall investigate all appeals and upon finding that such a volunteer ambulance worker has qualified for a year of ambulance service for the preceding calendar year, shall order the volunteer ambulance worker to be identified as having qualified for a year of ambulance service on the approved list.

(e) On or before May 1st of each year, the governing board of the sponsor shall cause a certified copy of the approved list to be filed with the administrator, accompanied by a payment in an amount equal to the amount of the sponsor's contribution to the program on behalf of each participant who is credited with a year of ambulance service times the number of participants credited with a year of ambulance service on the list, less the total amount of forfeitures set forth on the report provided to the sponsor for the preceding calendar year pursuant to section 150.12(a) of this Part.

(f) Any volunteer ambulance worker not wishing to participate in the service award program may request omission or deletion of his or her name from the list to be prepared or prepared by the ambulance company pursuant to subdivision (b) of this section at any time prior to the approval of the list by the governing board of the sponsor pursuant to subdivision (c) of this section. Such request shall be in writing, shall be filed with the chief executive officer of the ambulance company or political subdivision having custody of the list, and shall remain effective until withdrawn in the same manner. During the period such a request remains effective, a volunteer ambulance worker shall not earn service credit, nor be entitled to a contribution to, nor a distribution from, the program.

(g) Notwithstanding the provisions of subdivisions (b) through (e) of this section, in the case of the service award program which was in effect at any time during calendar year 1994, ambulance companies and the governing boards of sponsors shall comply with the following procedures:

(1) If the governing board of a sponsor has not approved a certified list of volunteer ambulance workers qualified for credit for a year of ambulance service rendered during 1994 in substantial compliance with the procedures set forth in subdivisions (b) through (d) of this section, excepting the dates as set forth therein, the ambulance company and the governing board of the sponsor shall comply with the procedures set forth in subdivisions (b) through (d), and the filing and payment requirements of subdivision (e) of this section, in the following manner:

(i) Not later than 30 days after the ambulance company receives a copy of the adoption agreement pursuant to section 150.4 of this Part, the ambulance company shall submit to the governing board of the sponsor the list required by subdivision (b) of this section.

(ii) Not later than 30 days after receipt of such list, the governing board of the sponsor shall review, approved and return the list to the ambulance company, and the ambulance company shall post the approved list, as required by subdivision (c) of this section.

(iii) Not later than 30 days after the approved list is posted by the ambulance company, any volunteer ambulance worker whose name does not appear on the list as having qualified for credit for a year of ambulance service may appeal to the governing board of the sponsor, and the governing board of the sponsor shall investigate and determine such appeals, as required by subdivision (d) of this section.

(iv) Not later than 30 days after the last day for a volunteer ambulance worker to appeal to the governing board of the sponsor, the governing board of the sponsor shall comply with the filing and payment requirements of subdivision (e) of this section.

(2) If the governing board of a sponsor has approved a certified list of volunteer ambulance workers qualified for credit for a year of ambulance service rendered during 1994 in substantial compliance with the procedures set forth in subdivisions (b) through (d) of this section, excepting the dates set forth therein, the governing board shall comply with the filing and payment requirements of subdivision (e) of this section no later than 30 days after the chief executive officer of the sponsor files a completed and executed copy of the adoption agreement with the administrator pursuant to section 150.4 of this Part.

2 CRR-NY 150.7 Prior service contributions {#sec-2-crr-ny-150.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.7}

(a) In the event that a service award program provides for prior service contributions, each ambulance company for which the program is adopted shall identify on the list prepared pursuant to subdivision (b) of section 150.6 of this Part those participants who are entitled to one or more prior service contributions and the number of years for which each participant is entitled to such prior service contributions. Any participant who is denied a prior service contribution for one or more years may appeal to the governing board at the same time, in the same manner, and with like effect as provided in subdivision (d) of section 150.6 of this Part. Except as provided in subdivision (b) of this section, prior service contributions shall be paid to the administrator in a single lump sum in the year in which a participant is determined to be entitled to the contribution, by remitting, together with any payment required by subdivision (e) of section 150.6 of this Part, an amount equal to the sponsor's contribution on behalf of each participant credited with a year of ambulance service for the first year of the program times the number of years for which each participant is entitled to a prior service contribution indicated on the list.

(b) The governing board of the sponsor may elect to pay prior service contributions in five equal annual installments. Where such an election is made, the first annual installment shall be paid on or before May 1st of the year in which a participant is determined entitled to a prior service contribution. Each subsequent annual installment shall be paid on or before May 1st of each of the four years immediately succeeding the year in which the first installment is paid, together with interest at the rate determined pursuant to subdivision (c) of this section on the unpaid balance of the prior service contribution as of the date of such payment, provided, however, that in the event that the administrator notifies the sponsor that a participant has been determined eligible for a distribution of a service award prior to the payment of the fifth annual installment, the governing board of the sponsor shall cause payment to be made to the administrator of an unscheduled prior service contribution within 30 days of receiving such notice. The unscheduled prior service contribution shall equal the unpaid balance of the participant's prior service contribution plus interest at the rate determined pursuant to subdivision (c) of this section on such unpaid balance.

(c) On or before March 31st of each year the administrator shall determine the rate of interest to be paid on the unpaid balance of prior service contributions. The rate of interest shall equal the rate of return on program assets during the preceding calendar year. The administrator shall notify sponsors of the rate of interest by inclusion in or enclosure with the report required by subdivision (a) of section 150.12 of this Part.

(d) Notwithstanding the provisions of subdivisions (a) and (b) of this section, in the case of a service award program which was in effect at any time during calendar year 1994 and which provides for prior service contributions, ambulance companies and the governing boards of sponsors shall comply with the following procedures:

(1) If the governing board of a sponsor has not approved a certified list of volunteer ambulance workers qualified for credit for a year of ambulance service rendered during 1994 which identifies those participants entitled to one or more prior service contributions in substantial compliance with the procedures referred to in subdivision (a) of this section, the list prepared pursuant to section 150.6(g)(1)(i) of this Part shall identify such participants and the number of years for which each participant is entitled to prior service contributions. A participant who is denied a prior service contribution for one or more years may appeal to the governing board of the sponsor at the same time, in the same manner, and with like effect as provided in section 150.6(g)(1)(iii) of this Part. The governing board shall comply with the payment requirement of subdivision (a) or (b) of this section at the time payment is made pursuant to section 150.6(g)(1)(iv) of this Part.

(2) If the governing board of a sponsor has approved a certified list of volunteer ambulance workers qualified for credit for a year of ambulance service rendered during 1994 which identifies those participants entitled to one or more prior service contributions in substantial compliance with the procedures referred to in subdivision (a) of this section, the governing board shall comply with the payment requirement of subdivision (a) or (b) of this section at the time payment is made pursuant to section 150.6(g)(2) of this Part.

2 CRR-NY 150.8 Distributions {#sec-2-crr-ny-150.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.8}

(a) A service award shall equal a participant's account balance as of the valuation date immediately succeeding application for distribution of the service award plus any unscheduled prior service contributions received by the administrator pursuant to section 150.7 of this Part. A service award shall be paid in the form of a lump sum distribution or in such other manner selected by the participant in his or her application for distribution of the service award as may be permitted by the terms and conditions of the program document.

(b) Except as otherwise provided in this section, a participant shall be entitled to apply for and receive distribution of a service award only when the participant has acquired a nonforfeitable right to the service award and has reached entitlement age.

(c) A service award shall be payable only after an application for distribution is filed with the administrator and the administrator approves the application, and shall be paid as soon as practicable following approval of the application and the valuation date next succeeding the date the application is received by the administrator. The administrator shall determine whether to approve an application based on the terms of the sponsor's adoption agreement, the records maintained by the administrator and, in the case of disability or death, such additional records or information as the administrator may require. The administrator, in its sole discretion, may require the sponsor, the appropriate ambulance company or the participant to verify or supply any information the administrator deems necessary to determine entitlement to distribution of a service award.

(d) In the event that a participant becomes totally and permanently disabled as certified by the workers' compensation board or by any other competent authority approved by the administrator, and the disability prevents the participant from pursuing his or her normal occupation, the participant shall be entitled to apply for and receive distribution of a service award regardless of whether the participant has reached entitlement age or has acquired a nonforfeitable right to a service award.

(e) In the event of the death of a participant who has acquired a nonforfeitable right to a service award and who has not previously received distribution of all or any portion of a service award, the beneficiaries designated by the participant or, if no beneficiaries have been so designated, the participant's estate, shall be entitled to apply for and receive distribution of the participant's service award regardless of whether the participant had reached entitlement age before death. If a participant dies after receiving distribution of less than the full amount of the service award, the remaining portion, if any, shall be paid in accordance with the distribution option selected by the participant in his or her application for distribution of the service award made pursuant to this section.

(f) In the event that the sponsor has elected to pay prior service contributions in installments as provided in section 150.7 of this Part and the administrator determines that a participant is eligible for a distribution of a service award prior to the payment of all annual installments of the participant's prior service contribution, the administrator shall promptly notify the sponsor of the amount of the unscheduled prior service contribution which must be paid to the administrator.

2 CRR-NY 150.9 Notice of amendment or termination {#sec-2-crr-ny-150.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.9}

(a) Once a service award program has been adopted, the sponsor may amend or terminate its participation in the program in the manner provided by article 11-AA of the General Municipal Law.

(b) Within 30 days after the amendment of any of the terms of a service award program set forth in the adoption agreement, or the termination of the sponsor's participation in a service award program, the chief executive officer of the sponsor shall file with the administrator a verified notice of amendment or notice of termination which shall contain the following:

(1) a statement of the date on which the governing board of the sponsor approved the resolution authorizing the amendment or termination of the program and the vote thereon, and a certified copy of the resolution;

(2) in the case of termination, or if the amendment requires submission of a proposition to the eligible voters of the sponsor, a statement of the date on which the eligible voters approved the proposition authorizing the amendment or termination and the vote thereon, and a certified copy of the proposition; and

(3) an opinion of legal counsel which shall:

(i) be addressed to the sponsor;

(ii) expressly provide that the administrator may rely thereon;

(iii) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to, the provisions of article 11-AA of the General Municipal Law and such other statutes as may be relevant, the resolution of the governing board of the sponsor authorizing the amendment or termination of the program, proof of any posting and publication to required notice and the certificate certifying the result of the vote on the proposition authorizing the amendment or termination of the program; and

(iv) express his or her opinion the sponsor has undertaken all actions and proceedings required by law to amend or terminate the program.

(c) Contemporaneously with such filing with the administrator, the chief executive officer shall also file a copy of the notice of amendment or notice of termination with the Office of the State Comptroller in Albany, NY.

(d) Within 30 days of the receipt of a notice of amendment, the administrator shall send to the chief executive officer of the sponsor two copies of an amended form of adoption agreement. The chief executive officer shall complete the copies of the amended form of adoption agreement by incorporating the terms of the amendment, and shall execute, retain, file, and provide a copy of the amended agreement to each ambulance company, in the same manner as the original adoption agreement.

(e) Any change in the amount to be contributed to the program by the sponsor on behalf of each participant who is credited with a year of ambulance service may become effective only as of January 1st of the calendar year following the amendment.

2 CRR-NY 150.10 Administration {#sec-2-crr-ny-150.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.10}

(a) Service award programs shall be administered by the State Comptroller unless the comptroller retains an administrative service agency or financial organization to administer the programs. Upon receipt of a notice of adoption of a service award program the Office of the State Comptroller shall notify the chief executive officer of the sponsor of the name, address and telephone number of the administrator and, if the administrator is not the State Comptroller, forward one copy of the notice of adoption to the administrator. In the event that there is a change in the identity of the administrator, the Office of the State Comptroller shall notify the chief executive officer of each sponsor of a service award program of the identity of the new administrator.

(b) The administrator shall:

(1) prepare a standard form of program document which shall be utilized by all program sponsors;

(2) prepare all forms necessary for the administration of the program;

(3) compile and maintain all records required for the administration of the program, including records of participant account balances;

(4) prepare and distribute to participants, ambulance companies and sponsors reports and program summaries as required by this Part;

(5) if the comptroller is not the administrator, prepare and furnish to the comptroller such reports as the comptroller may require;

(6) record and process contributions made by program sponsors;

(7) approve applications for distributions of service awards;

(8) record and process distributions of service awards;

(9) withhold all taxes and prepare all tax reporting forms required by Federal, State and local law; and

(10) perform such other functions as may be required by or pursuant to article 11-AA of the General Municipal Law and this Part.

2 CRR-NY 150.11 Program document {#sec-2-crr-ny-150.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.11}

The administrator shall prepare and may amend the service award program document setting forth the obligations of sponsors, the rights of volunteer ambulance workers and participants, and standards and procedures for the administration of service award programs. The program document and any amendments thereto shall be consistent with the provisions of article 11-AA of the General Municipal Law and the provisions of this Part, as amended. If the program document is prepared by an administrative service agency or financial organization, the program document and any amendments to the program document shall not take effect until approved by the State Comptroller.

2 CRR-NY 150.12 Reports {#sec-2-crr-ny-150.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.12}

(a) On or before March 31st of each year, the administrator shall provided to each sponsor a report which shall include, but not be limited to, the following information for the preceding calendar year for the sponsor;

(1) the total value of participant account balances as of January 1st;

(2) the total amount contributed to the program by the sponsor;

(3) the total amount of administrative expenses charged against participant accounts balances;

(4) the total amount of interest, earnings and gains credited to participant account balances;

(5) the total amount of losses charged to participant account balances;

(6) the total amount of distributions;

(7) the total value of forfeitures; and

(8) the total value of participant account balances as of December 31st.

(b) On or before March 31st of each year, the administrator shall provide to each ambulance company, and immediately thereafter each ambulance company shall provide to each participant who is a member of the company, a confidential statement for the preceding calendar year which shall include, but shall not be limited to, the following information for the participant:

(1) name;

(2) address;

(3) social security number;

(4) date of birth;

(5) account balance as of January 1st;

(6) amount contributed by the sponsor on behalf of the participant;

(7) administrative expenses charged against the account balance;

(8) interest, earnings and gains credited to account balance;

(9) losses charged to account balance;

(10) distributions;

(11) account balance as of December 31st;

(12) total number of years of ambulance service required to obtain a nonforfeitable right to a service award;

(13) total number of years of ambulance service credited to the participant;

(14) entitlement age; and

(15) designated beneficiaries.

2 CRR-NY 150.13 Disclosure {#sec-2-crr-ny-150.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.13}

(a) Not later than six months after a volunteer ambulance worker becomes a participant in a service award program, the administrator shall provide to the ambulance company of which the participant is a member, and promptly thereafter the ambulance company shall provide to the participant, a summary of the program's provisions as adopted by the sponsor of the program.

(b) In the event that a material modification is made to a service award program, the administrator shall provide to each ambulance company a copy of the modification within six months after the date on which the modification is adopted or the date on which the modification takes effect, whichever is later, and promptly thereafter each ambulance company shall provide a copy of the modification to each participant who is a member of the company.

2 CRR-NY 150.14 Standards for selecting service providers {#sec-2-crr-ny-150.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.14}

(a) When selecting an administrative service agency or a financial organization to serve as administrator, the following standards shall be utilized:

(1) the entity's experience with defined contribution programs and defined benefit programs;

(2) the capitalization of the entity;

(3) the entity's creditworthiness;

(4) the entity's ability to perform the required duties; and

(5) the cost of services to be provided by the entity.

(b) When selecting a financial organization to invest program funds the following standards shall be utilized:

(1) the standards set forth in subdivision (a) of this section;

(2) the entity's investments expertise;

(3) the entity's investment sophistication and flexibility;

(4) the entity's familiarity with similar plans;

(5) the entity's ability to procure or provide suitable investments; and

(6) the entity's ability to perform the required duties in recognition of the fiduciary nature of its responsibilities.

2 CRR-NY 150.15 Acknowledgment {#sec-2-crr-ny-150.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.15}

Each administrative service agency or financial organization selected to provide services in connection with service award programs shall contractually agree to discharge its duties as a fiduciary to the participants in service award programs. In addition, when a financial organization is selected to perform duties in connection with investment matters, it shall contractually agree to discharge its duties as fiduciary in accordance with the prudent expert standard of care.

2 CRR-NY 150.16 Solicitation, education and confidentiality {#sec-2-crr-ny-150.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.16}

(a) No financial organization or administrative service agency nor any of their agents shall solicit a volunteer ambulance worker to purchase any products made available by such financial organization or administrative service agency other than in connection with the program, nor use information obtained by reason of its appointment as a financial organization or administrative service agency to solicit volunteer ambulance workers with respect to such other products.

(b) Educational materials designed to acquaint volunteer ambulance workers with the benefits of the program may be provided by the financial organization or administrative service agency upon prior approval by the Office of the Comptroller. In addition, at the time of distribution of a service award, an administrative service agency or financial organization may include with the distribution written information concerning the potential tax consequences of the distribution and generic categories of investment options. Such information may contain a statement indicating that additional information may be obtained from the administrative service agency or financial organization or their agents and from other financial institutions, but in all cases such information shall also contain a clear and prominent statement that the Office of the State Comptroller does not review, approve, endorse or recommend, and is not in any way involved with, any financial instrument, product or service offered by or acquired through, an administrative service agency, financial organization or their agents, or any other financial institution.

(c) Except as otherwise provided by law, all information obtained under the program by the sponsor, an ambulance company, an administrative service agency or a financial organization shall be confidential and shall be used exclusively for purposes relating to the program.

2 CRR-NY 150.17 Auditing {#sec-2-crr-ny-150.17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 150.17}

Service award programs shall be audited annually by an independent certified public accounting firm of recognized standing in the industry. Financial statements shall include the status of investments, a valuation of each investment and a valuation of investment holdings in the aggregate. The audit shall be performed in accordance with generally accepted auditing standards and financial statements shall be prepared in accordance with generally accepted accounting principles. Marketable securities shall be valued at market value.

Part 151 THE NEW YORK STATE COLLEGE CHOICE TUITION SAVINGS PROGRAM

2 CRR-NY 151.1 Purpose; scope {#sec-2-crr-ny-151.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 151.1}

The New York State College Choice Tuition Savings Program (the program) was established for the purpose of enabling residents of New York and other states to benefit from the tax incentive provided for qualified tuition programs under the Internal Revenue Code of 1986, as amended (the code), and to attract students to public and private colleges and universities within the State. The Comptroller of the State of New York (the Comptroller) and the New York Higher Education Services Corporation (HESC) are required to implement the program as a "qualified tuition program" under section 529 of the code, and make changes to the program required for participants to obtain the tax benefits provided thereunder. These rules, developed jointly by the Comptroller and HESC pursuant to a memorandum of understanding dated November 10, 1997, clarify or modify certain provisions of article 14-A of the Education Law (article 14-A), as authorized and required thereby, to maintain the program as a qualified tuition program. In the event that changes in Federal law or rules necessitate program changes in order to maintain the program as a qualified tuition program, the Comptroller and HESC shall promptly:

(a) take all appropriate administrative steps to conform program requirements to Federal law and rules; and

(b) initiate the rule making procedure to promulgate necessary and appropriate amendments to this Part.

2 CRR-NY 151.2 Definitions {#sec-2-crr-ny-151.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 151.2}

(a) Unless otherwise defined, the terms used herein shall have the same meaning as used in the program brochure for the program, as now in effect or hereafter amended (the program brochure), which describes the program's operation and financial information. The program brochure can be obtained from the program manager selected by the Comptroller and HESC pursuant to article 14-A of the Education Law.

(b) The following terms used herein shall have the meanings set forth below:

(1) Account means an individual savings account established in accordance with article 14-A.

(2) Designated beneficiary means, with respect to an account, the individual designated as the individual whose qualified higher education expenses are expected to be paid from such account.

(3) Early withdrawal means a withdrawal from an account before the expiration of 36 months from the date the account was opended, whether or not the withdrawal is for payment of qualified higher education expenses.

(4) Non-qualified withdrawal means a withdrawal from an account which is not:

(i) a qualified withdrawal;

(ii) a withdrawal made as a result of the death or disability of a designated beneficiary; or

(iii) a withdrawal made on account of a scholarship.

(5) Qualified higher education expense shall have the meaning set forth in section 529(e)(3) of the code.

(6) Qualified withdrawal means a withdrawal from an account to pay qualified higher education expenses of the designated beneficiary after the account has been open for at least 36 months.

(7) Scholarship shall mean any payment described in section 530(d)(4)(B)(iii) of the code.

(8) Transfer means a distribution described in section 529(c)(3)(C)(i) of the code and the treasury regulations thereunder.

(9) Trust fund means the New York State College Choice Tuition Savings Program trust fund established by section 78 of the State Finance Law.

2 CRR-NY 151.3 Maximum contributions {#sec-2-crr-ny-151.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 151.3}

(a) The aggregate amount of contributions that can be made under the program for any designated beneficiary shall not exceed $100,000, the amount established by section 695-e(14)(a) of the Education Law. The qualified higher education expenses of a four year undergraduate education at an accredited private educational institution located in New York, attendance at which is among the most costly, are currently in excess of the $100,000 limit on contributions. If the Comptroller and HESC jointly determine that qualified higher education expenses of a four year undergraduate education at an accredited private educational institution located in New York, attendance at which is among the most costly, are less than $100,000, they shall reduce the limit on the aggregate amount of contributions to the amount so determined to ensure continuous compliance with section 529(b)(7) of the code and the treasury regulations thereunder. If the permissible aggregate amount of contributions is so reduced, notice of such reduction shall be provided to account owners not less than six months prior to the effective date of the reduction.

(b) The program manager shall monitor contributions so as to prevent contributions to any account for a designated beneficiary when the cumulative contributions to all accounts for such designated beneficiary equal $100,000. Any amount tendered as a contribution, or portion of a contribution, that if accepted as a contribution would cause aggregate contributions for any designated beneficiary to be in excess of $100,000 shall be rejected as a contribution, and shall be directly returned by the program manager to the account owner.

(c) Transfers will not be permitted to the extent that they would cause the aggregate contributions for all accounts for the same designated beneficiary to exceed $100,000.

2 CRR-NY 151.4 Penalty {#sec-2-crr-ny-151.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 151.4}

A penalty shall be withheld, and paid to the trust fund, from any early withdrawal from an account, in an amount equal to ten percent of the portion of the withdrawal constituting earnings, except for withdrawals made as a result of the death or disability of a designated beneficiary or a withdrawal made on account of a scholarship awarded to the designated beneficiary.

2 CRR-NY 151.5 Withdrawals {#sec-2-crr-ny-151.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 151.5}

(a) The Comptroller, HESC and the program manager have adopted procedures for determining whether a withdrawal is:

(1) a withdrawal on account of the death or disability of, or scholarship awarded to, the designated beneficiary; and

(2) an early withdrawal.

Following the request of an account owner for a withdrawal of all or part of the balance from an account, payment shall be made not later than seven days after the date on which a determination is made by the program manager and/or HESC, as applicable, using the above-referenced procedures, that a withdrawal request should be effected.

(b) If the program manager determines that a withdrawal is an early withdrawal, the program manager shall pay the amount of the withdrawal to the account owner net of penalties, except for withdrawals made as a result of the death or disability of a designated beneficiary or a withdrawal made on account of scholarship awarded to the designated beneficiary. If such withdrawal is subsequently determined not to be an early withdrawal, pursuant to procedures established by the Comptroller, HESC and the program manager, the account owner may request a refund of penalties from the program manager and the program manager shall refund such penalties not later than seven days after the date on which the determination is made by the program manager that the withdrawal was not an early withdrawal.

2 CRR-NY 151.6 Confirmation of death, disability or scholarship of designated beneficiary for an early withdrawal {#sec-2-crr-ny-151.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 151.6}

(a) Prior to an early withdrawal from an account due to the death or disability of the designated beneficiary of that account, or because the designated beneficiary has received a scholarship to be applied toward attendance at an eligible educational institution, the account owner shall certify the reason for the withdrawal and provide written confirmation from a third-party that the designated beneficiary has in fact died, become disabled, or received a scholarship for attendance at an eligible educational institution. A request to make an early withdrawal due to the death or disability of, or a scholarship award to, the designated beneficiary shall not be considered complete until such third-party written confirmation is received by the program manager.

(b) For purposes of subdivision (a) of this section, third-party written confirmation shall consist of the following documentation:

(1) For death of the designated beneficiary, a certified death certificate sufficiently identifying said beneficiary by name and social security number, or such other proof of death as is recognized under applicable law.

(2) For disability of the designated beneficiary, a certification by a physician who is a doctor of medicine or osteopathy that indicates that he or she is legally authorized to practice in a state of the United States and that the designated beneficiary is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or to be of long-continued and indefinite duration. Such certification shall be on a form provided or approved by the program manager.

(3) For a scholarship award to the designated beneficiary, a letter from the grantor of the scholarship or from the eligible educational institution receiving or administering the scholarship, that identifies the designated beneficiary by name and social security number as the recipient of the scholarship and states the amount of the scholarship, the period of time or number of credits or units to which it applies, or the date of the scholarship, and, if applicable, the eligible educational institution to which the scholarship is to be applied.

2 CRR-NY 151.7 No State guaranty {#sec-2-crr-ny-151.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 151.7}

The tuition savings agreement, program brochure and every contract, application, deposit slip, other similar document that may be used in connection with a contribution to an account shall clearly indicate that the account is not insured by the State and neither the principal deposited nor the investment return is guaranteed by the State.

Part 152 DEFINED BENEFIT SERVICE AWARD PROGRAMS FOR VOLUNTEER AMBULANCE WORKERS

2 CRR-NY 152.1 Scope {#sec-2-crr-ny-152.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.1}

Article 11-AAA of the General Municipal Law authorizes the establishment of defined benefit plan service award programs to provide municipally funded, pension-like benefits for volunteer ambulance workers. Paragraph 2 of section 219-p of article 11-AAA states that “the State Comptroller shall promulgate rules and regulations, as appropriate, for the service award programs. Such rules shall include, but not be limited to, standards for the selection of service providers, the method and timing of the payments required to be made by the sponsor, reporting requirements, matters relating to the preparation of a plan document, and any other matter relating to the service award programs”. These are the Comptroller's rules and regulations for defined benefit plan service award programs.

2 CRR-NY 152.2 Definitions {#sec-2-crr-ny-152.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.2}

(a) Unless otherwise defined, the terms used in this Part shall have the same meaning as provided in article 11-AAA of the General Municipal Law.

(b) In addition, in this Part:

(1) Benefit or benefit amount means an annual payment of $60, $120, $180 or $240 for each year of ambulance service, as selected by the sponsor.

(2) Comptroller means the New York State Comptroller.

(3) Program actuary means the actuary designated by the Comptroller to perform the functions required to be performed by an actuary under article 11-AAA of the General Municipal Law and these rules and regulations, as they may be amended from time to time.

2 CRR-NY 152.3 Adoption of programs {#sec-2-crr-ny-152.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.3}

Defined benefit plan service award programs shall be adopted in accordance with article 11-AAA of the General Municipal Law. Prior to consideration of a resolution authorizing adoption of such a service award program, the governing board of a political subdivision shall obtain from the program actuary an estimate of the annual cost of the program. In making such estimate, the program actuary shall calculate each separate component and the total estimated cost of a proposed program. In calculating such costs, the program actuary may rely upon information provided by the political subdivision and any ambulance company having members who are potential participants in the program and shall use the actuarial methodology and assumptions that shall be or are expected to be used to calculate the estimated annual cost of the proposed program as of the last day of the first calendar year ending after the effective date of the program. The program actuary shall disclose to the political subdivision in writing the fee for preparing the estimated annual cost of the program before beginning the cost estimate calculation. If a member of the Comptroller's staff is not the program actuary, the fee for preparing the cost estimate shall not exceed the amount which the program actuary is permitted to charge for such service pursuant to an agreement between the program actuary and the Comptroller. The sponsor shall pay such fee to the program actuary after rendition of the service promptly following receipt of the appropriate billing documents.

2 CRR-NY 152.4 Notice of adoption {#sec-2-crr-ny-152.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.4}

(a) Within 60 days after the adoption of a defined benefit plan service award program, the chief executive officer of the sponsor shall file with the Office of the State Comptroller in Albany, NY, two copies of a verified notice of adoption which shall contain the following:

(1) a statement of the date on which the governing board of the sponsor approved the resolution authorizing adoption of the program and the vote thereon, and a certified copy of the resolution;

(2) a statement of the date on which the electors of the sponsor approved the proposition authorizing adoption of the program and the vote thereon, and a certified copy of the proposition;

(3) an opinion of legal counsel which shall:

(i) be addressed to the sponsor;

(ii) expressly provide that the administrator may rely thereon;

(iii) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to: the provisions of article 11-AAA of the General Municipal Law and such other statutes as may be relevant; the resolution of the governing board of the sponsor authorizing the adoption of the program; proof of any posting and publication of required notice; the certificate certifying the result of the vote on the proposition authorizing the adoption of the program; and, proof that the estimated annual cost as well as the program cost components disclosed in the proposition were prepared by the program actuary; and

(iv) express his or her opinion that the sponsor has undertaken all actions and proceedings required by law to adopt the program;

(4) a statement of the name, address and telephone number of the chief executive officer of the sponsor; and

(5) a statement of the name, address and telephone number of each ambulance company having volunteer ambulance workers who are potential participants in the program.

(b) Upon receipt of the notice of adoption, the Office of the State Comptroller shall notify the chief executive officer of the name, address and telephone number of the administrator. If the administrator is not the Comptroller, the Office of the State Comptroller shall forward one copy of the notice of the adoption to the administrator.

2 CRR-NY 152.5 Adoption agreement {#sec-2-crr-ny-152.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.5}

(a) Within 30 days of receipt of a notice of adoption, the administrator shall send to the chief executive officer of the sponsor a copy of the program agreement, the trust agreement and two copies of a completed adoption agreement for the program.

(b) The adoption agreement shall contain a statement that the sponsor agrees to abide by the provisions of article 11-AAA of the General Municipal Law, the rules and regulations promulgated thereunder and the program and trust agreements, as amended from time to time. The adoption agreement shall incorporate the following terms of the program as determined by the sponsor:

(1) the name of the sponsor;

(2) the name of each volunteer ambulance company having volunteer ambulance workers who are potential program participants;

(3) the benefit under the program;

(4) in the case of a defined benefit plan service award program which was not converted from a pre-existing defined contribution plan service award program:

(i) the date as of which the program shall take effect;

(ii) whether the program provides credit for years of ambulance service rendered by a participant during the five calendar years immediately preceding the adoption of the program;

(iii) if the program provides credit for years of ambulance service rendered by a participant during the five calendar years immediately preceding the adoption of the program, a statement setting forth the timing and method of financing the cost of providing such credit; and

(iv) if the program is to take effect on a day other than the first day of January, a statement setting forth whether points toward a year of ambulance service shall be granted for activities performed between the immediately preceding first day of January and the effective date of the program;

(5) in the case of a defined benefit plan service award program which was converted from a defined contribution plan service award program:

(i) the effective date of the original defined contribution plan service award program (which shall be the effective date of the defined benefit plan service award program);

(ii) a statement setting forth whether the defined benefit plan service award program provides credit for years of ambulance service rendered by a participant during the five calendar years immediately preceding the effective date of the defined contribution plan program; and

(iii) if the defined benefit plan program allows credit for years of ambulance service during the five calendar years immediately preceding the effective date of the defined contribution plan service award program, a statement setting forth the timing and method of financing the cost of granting such service credit under the defined benefit plan service award program.

(c) Within 10 days of receipt of the completed adoption agreement from the administrator, the sponsor's legal counsel shall review the adoption agreement for consistency with the resolution authorizing the adoption of the program and the proposition submitted to referendum. Thereafter, the chief executive officer of the sponsor shall execute two originals of the adoption agreement, retain one executed original of the adoption agreement and the program and trust agreements as public records, and file one executed original of the adoption agreement with the administrator. The chief executive officer shall also cause a copy of the adoption agreement and program and trust agreements to be provided to each ambulance company for which the program is adopted.

(d) Upon receipt of one executed original of an adoption agreement, the administrator shall forward a copy of the adoption agreement to the program actuary.

(e) The administrator and the program actuary shall rely on the terms of the program as set forth in the adoption agreement until the administrator and program actuary receive a copy of an amended adoption agreement or notice of termination as provided in section 152.14 of this Part.

2 CRR-NY 152.6 Collection of personal information {#sec-2-crr-ny-152.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.6}

(a) Except as provided in subdivision (b) of this section, annually, and at such other times and in such form as the administrator may require, the chief executive officer of the sponsor shall obtain from each ambulance company for which the program is established for submission to the administrator, and each ambulance company shall provide to the chief executive officer for such purpose, the following information for each volunteer ambulance worker of the ambulance company, whether or not such volunteer ambulance worker is a participant in the program:

(1) name;

(2) address;

(3) social security number;

(4) date of birth;

(5) name of ambulance company in which he or she is a volunteer ambulance worker; and;

(6) such other information as the administrator determines necessary for the administration of the program.

(b) In lieu of requiring the chief executive officer of the sponsor to obtain the information specified in subdivision (a) of this section for submission to the administrator, the administrator may request the chief executive officer of an ambulance company to obtain and submit such information to the administrator. In such case, the chief executive officer of the ambulance company shall provide a copy of the information submitted to the administrator to the chief executive officer of the sponsor.

(c) The chief executive officer of the sponsor shall retain a copy of the information obtained pursuant to this section for use solely in connection with the administration of the service award program.

2 CRR-NY 152.7 Service credit {#sec-2-crr-ny-152.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.7}

(a) Each ambulance company for which a service award program is adopted shall maintain at all times for each volunteer ambulance worker of the company, whether or not a participant in the program, a record of the activities performed and points granted toward a year of ambulance service credit.

(b) On or before March 31st of each year, each ambulance company for which a service award program is adopted shall prepare and submit to the governing board of the sponsor a list of all the volunteer ambulance workers of the company which identifies all those who have earned credit for a year of ambulance service during the preceding calendar year. Such list shall be certified under oath by the president, secretary and chief or comparable officers of the ambulance company and shall be accompanied by such membership records or records of point accumulations as the governing board may require to substantiate the accuracy of the list. Such list shall also identify those volunteer ambulance workers who have waived participation in the service award program as provided in subdivision (g) of this section.

(c) On or before May 1st of each year, the governing board of the sponsor shall review each such certified list and may delete the name of any person who was not a volunteer ambulance worker during the proceeding calendar year or disallow the service credit of any volunteer ambulance worker who did not earn 50 points during the proceeding calendar year or whose point accumulation has not been adequately documented. Thereafter, the governing board shall approve each such certified list of volunteer ambulance workers and each volunteer ambulance worker thereon identified as having earned 50 or more points during the preceding calendar year shall be credited with a year of ambulance service. Upon approval, the governing board shall cause a copy of each list to be returned the appropriate ambulance company and each ambulance company shall, immediately upon receipt, post the list in a conspicuous place at its principal headquarters for at least 30 days and maintain a record of the date on which the list is posted.

(d) Not later than 30 days after the approved list is posted by the ambulance company, any volunteer ambulance worker whose name does not appear on the list as having earned credit for a year of ambulance service may appeal to the governing board of the sponsor to have his or her name added to the list as having earned credit for a year of ambulance service. The appeal shall be in writing and mailed to the clerk or secretary of the governing board of the sponsor. The governing board shall investigate all appeals and upon finding that such a volunteer ambulance worker has earned a year of ambulance service credit for the preceding calendar year, shall order the volunteer ambulance worker to be identified as having earned a year of ambulance service credit on the approved list.

(e) On or before July 1st of each year, the governing board of the sponsor shall cause a certified copy of the approved list to be filed with the administrator accompanied by appropriate documentation supporting any changes to the list made pursuant to subdivision (d) of this section.

(f) The administrator shall retain such list and shall promptly forward a copy of such list to the program actuary.

(g) Any volunteer ambulance worker not wishing to participate in the service award program may waive participation by filing with the chief executive officer of the ambulance company, the chief executive officer of the political subdivision and the administrator a written notice of waiver of participation. Such waiver shall remain effective until withdrawn in the same manner. During the period such a waiver remains effective, a volunteer ambulance worker shall not earn service credit, nor be entitled to a distribution from the program.

(h) If the effective date as of which a volunteer ambulance worker (or the volunteer ambulance worker's beneficiary, if the volunteer ambulance worker is deceased) begins to be paid a service award is other than the last day of a calendar year, the volunteer ambulance worker shall have the opportunity to earn service credit (i.e., points under the point system) up to the day immediately preceding the effective date as of which the service award payments commence. When preparing this list described in subdivision (b) of this section, only activities performed by a volunteer ambulance worker up to the day immediately preceding the effective date as of which service award payments commenced to the volunteer shall be considered when determining whether the volunteer earned 50 points during the calendar year in which the service award payments commenced to the volunteer. One year of service credit shall be awarded to a volunteer ambulance worker only if he or she earned 50 points for activities he or she performed up to the day immediately preceding the effective date as of which the service award payments commenced to the volunteer. When determining the points to be awarded to the volunteer ambulance worker for participation in ambulance company responses up to such day, the volunteer ambulance worker must have responded to the same minimum number of calls for the year that all other volunteer ambulance workers may be required to respond to under the point system adopted by the sponsor. Upon receipt of a certified copy of the approved list by the administrator as set forth in subdivision (e) of this section, the administrator shall promptly direct the program trustee to begin paying the volunteer ambulance worker any additional service award to which he or she may be entitled to be paid as of the effective date on which service award payments commenced to the volunteer ambulance worker.

2 CRR-NY 152.8 Prior service costs {#sec-2-crr-ny-152.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.8}

(a) In the event that a defined benefit plan service award program provides credit for years of ambulance service during the five calendar years immediately preceding the adoption of a program, each ambulance company for which the program is adopted shall identify on the list created pursuant to section 152.7 of this Part participants who are entitled to one or more years of prior service credit and the number of years for which each participant who is entitled to such prior service credit. Any participant who is denied prior service credit for one or more years may appeal to the governing board at the same time, in the same manner, and with like effect as provided in section 152.7 of this Part. Except as otherwise provided in this section, prior service cost shall be paid to the administrator in a single lump sum in the year next following the first calendar year for which a participant earned credit for a year of ambulance service. Such prior service cost shall be calculated by the program actuary.

(b) The governing board of the sponsor may elect to pay initial prior service costs over the five consecutive calendar year period beginning with the calendar year next succeeding the year in which the program takes effect. For this purpose, initial prior service costs means the cost of granting prior service credit to volunteer ambulance workers who become participants as result of having earned a year of ambulance service for activities performed in any year during the five consecutive calendar years beginning with the year in which the program takes effect. Initial prior service costs shall be computed annually during such five-year period and each annual payment shall equal the level annual payment calculated by the program actuary required to amortize the remaining unfunded initial prior service costs over the number of years remaining in such five-year period.

(c) The prior service costs of a service award program for the volunteer ambulance workers of a volunteer ambulance company which contracts with the sponsor of a service award program with one or more other political subdivisions shall be apportioned and paid by such participating political subdivisions in accordance with any agreement between the sponsor and the political subdivision(s); provided, however that unless any such agreement provides otherwise, the portion of the prior service costs of a program allocated to a political subdivision in accordance with such agreement shall be paid in full by a political subdivision even if the political subdivision ceases to contract with the ambulance company after a program is adopted.

(d) In the case of a defined benefit plan service award program converted from a defined contribution plan service award program, the governing board of the sponsor may elect to pay initial prior service costs over the five consecutive calendar year period beginning with the calendar year next succeeding the year in which the conversion takes effect. For purposes of this subdivision, initial prior service costs means the cost of granting prior service credit to volunteer ambulance workers who became or become participants as result of having earned a year of ambulance service for activities performed in any calendar year during the period commencing with the calendar year in which the defined contribution plan program took effect and ending with the fourth calendar year next succeeding the year in which the conversion took effect. Initial prior service costs shall be computed annually during such five-year period and each annual payment shall equal the level annual payment calculated by the program actuary required to amortize the remaining unfunded initial prior service costs over the number of years remaining in such five-year period.

(e) In the case of a defined benefit plan service award program which is amended to provide prior service credit, the governing board of the sponsor may elect to pay initial prior service costs over the five consecutive calendar year period beginning with the calendar year next succeeding the year in which such amendment takes effect. For purposes of this subdivision, initial prior service costs means the cost of granting prior service credit to volunteer ambulance workers who became or become participants as result of having earned a year of ambulance service for activities performed in any calendar year during the period commencing with the calendar year in which the defined benefit plan program took effect and ending with the fourth calendar year next succeeding the year in which the amendment took effect. Initial prior service costs shall be computed annually during such five-year period and each annual payment shall equal the level annual payment calculated by the program actuary required to amortize the remaining unfunded initial prior service costs over the number of years remaining in such five-year period.

2 CRR-NY 152.9 Sponsor contributions {#sec-2-crr-ny-152.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.9}

(a) Within 45 days of receiving from the administrator a copy of the certified list in accordance with section 152.7 of this Part, the program actuary shall calculate and the administrator shall bill the sponsor for the contribution due for the calendar year ended on the immediately preceding December 31st. In addition to the program administration costs for such year, such contribution shall include the actuarially determined normal cost plus any prior service costs associated with the adoption of a program, including the conversion from a defined contribution plan service award program to a defined benefit plan program, or the adoption of an amendment to an existing program. For good cause shown, the program actuary may recalculate the contribution, and, in such a case, the administrator shall issue a corrected bill.

(b) Within 60 days of the invoice date of a bill for sponsor contributions, the sponsor shall pay to the administrator the total amount of the sponsor contribution shown on such invoice.

(c) The actuarial methodology and assumptions used by the program actuary to calculate such annual contribution shall be the same for all defined benefit plan service award programs.

(d) The actuarial methodology and assumptions used by the program actuary to calculate such annual contribution shall be reviewed beginning with the calendar year 2000 sponsor contribution and for every third program (calendar) year thereafter by an independent enrolled actuary selected and retained by the program actuary subject to approval by the Comptroller. Such enrolled actuary shall submit a written report to the program actuary and the Comptroller regarding the appropriateness of the actuarial methodology and assumptions used by the program actuary in the calculation of the program costs and the funded status of the existing defined benefit plan program as a whole. In addition, the enrolled actuary, on a statistical random sampling basis of sufficient size, shall select a number of specific programs to audit for completeness and correctness of participant data, consistency of actuarial cost calculations with program provisions and correctness of actuarial calculations.

(e) Interest shall accrue and be paid by the sponsor on all contributions due during a calendar year but not received by the administrator within 60 days of the invoice date or the billing statement from the administrator to the sponsor for the amount of annual contribution owed. The interest rate or rates used to calculate such interest shall be the greater of:

(1) the investment return rate (or rates) assumed by the program actuary in the calculation of the normal cost component of such unpaid contribution; or

(2) the actual investment return rate earned by the volunteer ambulance workers' defined benefit plan service award program trust fund during the calendar year (or years) in which such unpaid contributions were due to be paid.

(f) The administrator shall notify the Comptroller of any outstanding unpaid contributions after the end of a calendar year during which payment of contributions should have been received by the administrator.

(g) In the event that a sponsor does not submit to the administrator the certified list (with supporting documentation) in accordance with section 152.7 of this Part, the administrator shall bill the sponsor for the contribution due during the calendar year in which the list should have been submitted in an amount calculated by the program actuary equal to the estimated contribution due during such year. Such estimated contribution shall be calculated by the program actuary as if all volunteer ambulance workers on the latest year's certified list received by the administrator continued to be volunteer ambulance workers and all such persons earned year of service credit during the calendar year or years for which the list or lists should have been prepared in accordance with section 152.7 of this Part. Payment of such contribution shall be made in accordance with subdivisions (b) and (e) of this section as if the program actuary's cost calculations were based upon the actual certified listings prepared in accordance with section 152.7 of this Part. Upon receipt by the administrator of the actual certified list prepared in accordance with section 152.7 of this Part, the program actuary shall calculate the actual amount of contributions due for such calendar year. In the event that additional contributions are owed by the sponsor (including any additional administration costs), the administrator shall bill the sponsor for such additional amounts. Interest shall be paid by the sponsor on all additional amounts owed and shall accrue from the due date of the payment of the estimated contribution billed to the sponsor by the administrator with such interest calculated in accordance with subdivision (e) of this section. Any excess of the estimated contributions over the actual contributions shall be refunded to the sponsor. The amount of such refund shall be reduced by any related additional administration costs charged by the administrator or the program actuary. The assessment of any extra additional administration charges payable by the sponsor to either the administrator or the program actuary because of the failure to comply with section 152.7 of this Part shall be in accordance with the contract(s) between the Comptroller and the administrator/program actuary.

(h) In the event that two years have elapsed since an inactive volunteer ambulance worker participant or a participant's designated beneficiary becomes eligible to apply for a service award and the administrator does not receive an application for distribution, the administrator, the sponsor and the ambulance company in which the participant was a member shall attempt to notify the person or persons to whom the service award would be paid. In the event that the administrator, in his sole discretion, determines that a reasonable attempt has been made to contact such person or persons without success, the service award payable shall then be considered as forfeited for the purpose of determining future contributions payable by the sponsor. Such forfeiture shall be treated by the program actuary as an actuarial gain in the program cost calculations in the same manner as any other forfeiture of a service award. The funds accumulated to pay the participant or the participant's beneficiary shall remain within the service award program trust fund as if such funds were the accumulated funds associated with the forfeiture of a non-vested service award. Should the person to whom service award payments are owed subsequently file an application for payment with the administrator, the administrator shall determine and pay the amount of the service award owed to the person and the actuarial liability for such payments shall be included in subsequent actuarial calculations of the sponsor's funding costs of the program by the program actuary.

2 CRR-NY 152.10 Forfeitures {#sec-2-crr-ny-152.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.10}

(a) Except in the case of a participant, who, upon application to the administrator is determined by the administrator to be totally and permanently disabled, a participant, who before he or she earned five years of service credit, ceases to be a volunteer ambulance worker of an ambulance company whose volunteer ambulance workers are eligible to participate in the service award program in which such person participates, shall forfeit his or her service credit upon receipt by the administrator of the list described in section 152.7 of this Part on which he or she is first indicated as having ceased to be a volunteer ambulance worker during the calendar year for which the list is prepared.

(b) If a person whose service credit was forfeited in accordance with subdivision (a) of this section, within the five calendar year period beginning immediately after the calendar year in which he or she ceased to be a volunteer ambulance worker, again becomes a volunteer ambulance worker of an ambulance company whose volunteer ambulance workers are eligible to participate in the program in which such person previously participated, such person's forfeited service credit shall be restored as of December 31st of the first calendar year in which he or she again earns a year of ambulance service credit and again becomes a participant in the program in which he or she formerly was a participant.

2 CRR-NY 152.11 Distributions {#sec-2-crr-ny-152.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.11}

(a) Unless a participant elects to be paid his or her service award in an optional actuarially equivalent form on the written application for distribution he or she files with the administrator, the service award shall be paid to the participant in the form of a monthly payment straight life annuity. The amount of the monthly straight life annuity payment shall be one-twelfth of the benefit amount times the years of ambulance service credit earned by the participant as of the effective date of the commencement of payment of his or her service award.

(b) Except as otherwise provided in this section, a participant shall be entitled to apply for and receive distribution of a service award only when the participant has acquired a, nonforfeitable right to a service award and has attained the entitlement age. A written application for distribution must be received by the administrator from a participant before payments shall commence to the participant. The participant shall, on such written application, specify the effective date of payment commencement and shall select the form of payment of his or her service award. The effective date of payment commencement shall be the first day of any month commencing within the 90-day period immediately following the date the written application is received by the administrator. A participant may file a written application within the 90-day period immediately preceding the date on which he or she shall have attained the entitlement age and acquired a nonforfeitable right to a service award and specify an effective date of payment commencement:

(1) no earlier than the date of attainment of the entitlement age and acquiring a nonforfeitable right to a service award; and

(2) no later than 90 days after the application is filed with the administrator.

(c) The effective date of the commencement of payment of a service award to a participant shall not be on or before the last day of the first calendar year during which a participant earned a year of ambulance service credit.

(d) The administrator shall approve an application for distribution based on the terms of the sponsor's adoption agreement, the records maintained by the administrator and, in the case of disability or death, such additional records or information as the administrator may require. The administrator, in its sole discretion, may require the sponsor, the appropriate ambulance company or the participant to verify or supply any information the administrator deems necessary to determine entitlement to distribution of a service award.

(e) The number and types of optional forms of payments of a service award available under a program shall be at the sole discretion of the administrator subject to the approval of the Comptroller. Program sponsors and ambulance companies whose volunteer ambulance workers participate in a defined benefit plan service award program shall be promptly notified by the administrator in writing of any changes in the optional forms of payment. Participants shall then be promptly notified about such changes by the ambulance company. The optional forms of payment under the program are set forth in section 152.26 of this Part.

(f) For determining the payments of a service award to a participant under an actuarially equivalent form of payment, the program actuary shall use the actuarial assumptions used to calculate the annual program costs payable by the sponsor during the calendar year in which the payments of the service award to the participant or the participant's beneficiary shall commence.

(g) No ambulance service credit may be earned by a participant after the effective date of commencement of payment of a service award to a participant. Only service credit earned before the effective date of commencement of the service award payments to a participant shall be considered when calculating a participant's service award.

(h) In the event that a participant becomes totally and permanently disabled as certified by the workers' compensation board or by any other competent authority approved by the administrator, and the disability prevents the participant from pursuing his or her normal occupation, the participant shall be entitled to apply for and receive distribution of his or her service award regardless of whether the participant has reached the entitlement age or acquired a nonforfeitable right to a service award. The participant may select one of the optional forms of payment available under the service award program in case of disability. The value of the service award shall be determined on the basis of the years of ambulance service credited to the participant as of the effective date of commencement of payment of the service award. The amount of payments shall be calculated so as to be actuarially equivalent to the present value of the payments as if they commenced at the entitlement age.

(i) In the event of the death of a participant who has acquired a nonforfeitable right to a service award and who has not previously received distribution of any portion of his or her service award, the beneficiaries designated by the participant or, if no beneficiaries have been so designated, the participant's estate, shall be entitled to apply for and receive distribution of the participant's service award. The applicant may select one of the optional forms of payment available under the service award program in case of death. The value of the service award shall be determined on the basis of the years of ambulance service credited to the participant as of the effective date of commencement of payment of the service award. The amount of the payments shall be calculated so as to be actuarially equivalent to the present value of the payments as if they commenced at the entitlement age.

2 CRR-NY 152.12 Program amendment {#sec-2-crr-ny-152.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.12}

(a) Once a service award program has been adopted, the sponsor may amend the program in the manner provided by subdivision 9 of section 219-l of the General Municipal Law. All amendments to a service award program shall take effect on January 1st next succeeding the completion of the process of adopting the amendment provided by subdivision 9 of section 219-l.

(b) The resolution authorizing the adoption of an amendment to a service award program shall include:

(1) the name of each ambulance company having volunteer ambulance workers who are participants in the program;

(2) a description of the amendment;

(3) except in the case of a change to the activities for which points shall be granted toward a year of ambulance service credit, a statement of the effect if any, as determined by the program actuary, that the amendment would have on the annual cost of the program including a statement of the current and estimated future annual cost of the program; and

(4) except in a case of a change to the activities for which points shall be granted toward a year of ambulance service, the date on which the proposition authorizing the adoption of the amendment shall be submitted to referendum.

(c) The proposition authorizing adoption of an amendment to a service award program shall identify the service award program and shall include:

(1) a brief description of the amendment;

(2) an estimate of the effect, if any, as determined by the program actuary, that the amendment would have on the annual cost of the program, including the current and estimated future annual cost of the program; and

(3) the portion of any change in the estimated annual cost of the program to be borne by one or more other political subdivisions.

(d) In computing the amount of a service award, an amendment changing the program benefit amount shall be applied only to the service awards payable to participants who earn at least one year of ambulance service credit for activities performed on and after the effective date of such amendment.

2 CRR-NY 152.13 Program termination {#sec-2-crr-ny-152.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.13}

(a) A defined benefit plan service award program may be terminated by the sponsor in the manner provided by subdivision 9 of section 2l9-l of the General Municipal Law. The termination of a service award program shall take effect on the December 31st next succeeding approval by voters of the proposition to terminate the defined benefit plan service award program.

(b) The resolution authorizing the termination of a service award program shall:

(1) list the name of each ambulance company having volunteer ambulance workers who are participants or in the program to be terminated;

(2) the estimated one-time cost of terminating the program, as determined by the program actuary; and

(3) indicate the date on which the proposition authorizing the termination shall be submitted to referendum.

(c) The proposition authorizing the termination of a service award program shall identify the program and include:

(1) a statement that the program shall be terminated; and

(2) an estimate of the one-time cost of terminating the program as determined by the program actuary.

(d) Upon the termination of a program, all participants including those then receiving payment of their service award, shall be paid a single-sum equal to the actuarial present value of the unpaid balance of their earned service award as of the date of program termination. Payment shall be made within one year of the effective date of termination.

(e) The program actuary shall determine the actuarial present value single-sum distributions to participants and beneficiaries using the same actuarial assumptions he or she used to calculate the annual program funding cost payable during the calendar year in which voters approved the proposition to terminate the program.

(f) The one-time cost to terminate the program shall be calculated by the program actuary. Such costs shall include the difference between the total cost of the single-sum distributions to participants and beneficiaries calculated by the program actuary, and the program assets. Such costs shall also include administrative costs. When the Comptroller is not the administrator, the administrative costs shall be determined in accordance with the service agreement between the Comptroller, the administrator and the program actuary. The total one-time cost to terminate the, program actuary shall be paid by the sponsor to the administrator within 180 days of the effective date of termination of the program.

(g) In the event that the program assets exceed the total single-sum distributions to participants and beneficiaries, all or a portion of the administrative costs of terminating the program may be paid, at the discretion of the sponsor, from the program assets.

(h) After payment of the one-time cost to terminate the program, the program trustee, upon notification by the administrator, shall transfer the remaining program assets to the sponsor.

(i) A participant or beneficiary may waive payment of any service award payable to him or her from a terminated program by filing a written waiver of payment with the administrator.

2 CRR-NY 152.14 Notice of amendment or termination {#sec-2-crr-ny-152.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.14}

(a) Within 30 days after the amendment of any of the terms of a service award program as set forth in the adoption agreement, or the termination of the sponsor's participation in a service award program, the chief executive officer of the sponsor shall file with the Comptroller in Albany, NY, two copies of a verified notice of amendment or notice of termination which shall contain the following:

(1) a statement of the date on which the governing board of the sponsor approved the resolution authorizing the amendment or termination of the program and the vote thereon, and a certified copy of the resolution;

(2) in the case of termination, or if the amendment requires submission of a proposition to the electors of the sponsor, a statement of the date on which the electors approved the proposition authorizing the amendment or termination and the vote thereon, and a certified copy of the proposition; and

(3) an opinion of legal counsel which shall:

(i) be addressed to the sponsor;

(ii) expressly provide that the administrator may rely thereon;

(iii) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to: the provisions of article 11-AAA of the General Municipal Law and such other statutes as may be relevant; the resolution of the governing board of the sponsor authorizing the amendment or termination of the program; proof that the program actuary calculated the estimated annual cost of the amended program including administration costs or the additional costs, if any, of terminating a program; proof of any posting and publication of required notice and the certificate certifying the result of the vote on the proposition authorizing the amendment or termination of the program; and

(iv) express his or her opinion the sponsor has undertaken all actions and proceedings required by law to amend or terminate the program.

(b) Upon receipt of a notice of amendment or a notice of termination, the Office of the State Comptroller shall forward one copy to the administrator and one copy to the program actuary. Within 30 days of the receipt of a notice of amendment or a notice of termination, the administrator shall send to the chief executive officer of the sponsor two copies of an amended adoption agreement. The sponsor's legal counsel shall review such adoption agreement for consistency with the resolution of the sponsor's governing body authorizing the amendment and, if applicable, the proposition submitted to electors authorizing the amendment. The chief executive officer shall then execute, retain, file, and provide a copy of the amended agreement to each ambulance company, in the same manner as the original adoption agreement.

2 CRR-NY 152.15 Conversion to defined benefit plan {#sec-2-crr-ny-152.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.15}

(a) A defined contribution plan service award program adopted in accordance with article l1-AA of the General Municipal Law may be converted into a defined benefit plan service award program in accordance with sections 219-i and 219-l of the General Municipal Law and these rules and regulations.

(b) In addition to the requirements of section 2l9-l of the General Municipal Law, the resolution authorizing conversion of a service award program shall include: a statement that the purpose of the resolution is to authorize the conversion of a defined contribution plan service award program into a defined benefit plan service award program;

(c) In addition to the requirements of section 219-l of the General Municipal Law, the proposition authorizing the conversion of a service award program shall identify the program and include a statement that the purpose of the proposition is to authorize conversion of a defined contribution plan service award program into a defined benefit plan service award program.

(d) No person who applied for a distribution of a service award under a defined contribution plan service award program before the effective date of the conversion of the program into a defined benefit plan service award program shall be eligible for a distribution under the defined benefit plan service award program. Any distribution to such person shall be made in accordance with the provisions of the defined contribution plan service award program.

(e) All the assets within the defined contribution plan service award program trust fund on the effective date as of which a defined contribution plan service award program is converted to a defined benefit plan service award program shall be transferred to the defined benefit plan service award program trust fund and shall become the initial assets of the replacement defined benefit plan service award program. Any prior service contributions owed to the defined contribution plan service award program trust fund under the provisions of the defined contribution plan service award program by the sponsor shall no longer be payable, shall not be considered as an asset of the defined benefit plan program and shall not be considered as an asset in any calculations by the program actuary of the cost or costs of the defined benefit plan service award program. Except for those persons who applied for a distribution of a defined contribution plan service award before the effective date of the conversion to a defined benefit plan, no person shall have any right to payment of a defined contribution plan service award, or any claim whatsoever to the assets held within the defined contribution plan service award program trust fund.

2 CRR-NY 152.16 Administration {#sec-2-crr-ny-152.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.16}

(a) Service award programs shall be administered by the State Comptroller unless the Comptroller retains or designates an administrative service agency, financial organization, and/or an actuary to administer the programs.

(b) In the event that there is a change in the identity of the administrator, the Office of the State Comptroller shall notify the chief executive officer of each sponsor of a service award program of the change.

(c) The administrator shall:

(1) prepare standard forms of a program agreement and adoption agreement which shall be utilized by all program sponsors;

(2) prepare and distribute all forms and documents necessary for the administration of the program;

(3) compile and maintain all records required for the administration of the program, including records of participant accrued benefit amounts;

(4) prepare and distribute to participants, ambulance companies and sponsors, the reports and program summaries as required by these rules and regulations;

(5) if the Comptroller is not the administrator, prepare and furnish to the Comptroller such reports as the Comptroller may require;

(6) record and process contributions made by program sponsors;

(7) cooperate with the program actuary, and, program trustee to ensure the effective and efficient operation of the programs, including the provision in a timely manner of such information as the program actuary and program trustee may require to exercise and perform their powers and duties;

(8) approve applications for distributions of service awards;

(9) record and process distributions of service awards;

(10) withhold all taxes and prepare all tax reporting forms required by Federal, State and local law; and

(11) perform such other functions as may be required by or pursuant to article 11-AAA of the General Municipal Law and this Part.

2 CRR-NY 152.17 Program actuary {#sec-2-crr-ny-152.17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.17}

(a) The Comptroller may designate a member of his staff or contract with an actuary to serve as the program actuary.

(b) The program actuary shall calculate:

(1) the estimated annual cost and the components thereof of all proposed defined benefit plan service award programs, including defined benefit plan programs which are converted from defined contribution plan service award programs, and amendments to existing defined benefit plan programs;

(2) the estimated costs to terminate a defined benefit plan service award program;

(3) for each calendar year during which a defined benefit plan service award program is in effect, the actual cost of the program, including all components of such actual cost;

(4) the amount of all actual distributions of service awards, including all amounts payable under actuarially equivalent forms of payment of service awards; and

(5) any other amounts, costs or actuarial present values related to a defined benefit plan service award program requested by the Comptroller, the program trustee or required by statute, rule or regulation or by generally accepted actuarial or accounting practices applicable to volunteer ambulance workers' defined benefit plan service award programs.

(c) The program actuary shall disclose the actuarial assumptions and actuarial methodology used to calculate the estimated and annual costs of a defined benefit plan service award program to the Comptroller and the program trustee. In addition, the program actuary shall upon request calculate and/or disclose any other information to the program trustee or the Comptroller.

(d) The program actuary shall cooperate with the administrator and program trustee to ensure the effective and efficient operation of the programs, including the provision in a timely manner of such information as the administrator and program trustee may require to exercise and perform their powers and duties.

2 CRR-NY 152.18 Program trustee {#sec-2-crr-ny-152.18 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.18}

(a) The Comptroller may designate himself or herself as program trustee or the Comptroller may contract with a financial organization or administrative service agency to serve as program trustee.

(b) The program trustee shall:

(1) hold the assets of the programs in trust;

(2) receive and process contributions to the trust in a timely manner;

(3) invest the assets of the trusts;

(4) determine the fair market value of the trust estate as of each valuation date as defined in the program agreement, commencing with December 31, 2000;

(5) make payments approved by the administrator to program participants and their beneficiaries, and other approved disbursements from the trust fund;

(6) provide the administrator and program actuary with such information as may be necessary to enable the administrator and program actuary to prepare the annual reports for sponsors and annual participant statements provided for in these rules and regulations and program agreement, including the reports and statements required for calendar year 2000;

(7) provide the administrator and program actuary with such information as may be necessary to enable the administrator and program actuary to withhold all appropriate taxes and prepare and file all tax reporting forms required by Federal, State and local law; and

(8) cooperate with the administrator, program actuary and the Comptroller to ensure the effective and efficient operation of the programs. In furtherance of this purpose, the program trustee shall provide in a timely manner such information as the administrator and program actuary may require to exercise and perform its powers and duties under the General Municipal Law, these rules and regulations and the program agreement. The program trustee shall also provide in a timely manner such information as the Comptroller may require to monitor the operation of the programs.

2 CRR-NY 152.19 Program document {#sec-2-crr-ny-152.19 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.19}

(a) The administrator shall provide the chief executive officer of each sponsor with a copy of the defined benefit plan service award program document. Such program document shall consist of a copy of the program agreement, the trust agreement, and adoption agreement, as amended.

(b) The administrator shall prepare, maintain and may amend the program agreement. The program agreement shall set forth the rights and obligations of sponsors, volunteer ambulance workers, participants and beneficiaries of participants, and procedures for the administration of programs. The program agreement and any amendments thereto shall be consistent with the provisions of article 1l-AAA of the General Municipal Law and the provisions of these rules and regulations, as amended. If the program agreement is prepared by an administrative service agency or a financial organization, the program agreement and any amendments thereto shall not take effect until approved by the Comptroller.

(c) The Comptroller shall prepare and/or amend the trust agreement pursuant to subdivision 4 of section 219-p of the General Municipal Law. The Comptroller may, however, direct the program trustee to prepare and/or amend the trust agreement subject to review and approval by the Comptroller. The Comptroller shall provide to the administrator a copy of the trust agreement and any amendments thereto.

(d) The adoption agreement shall be prepared by the administrator and the sponsor as provided in section 152.5 of this Part.

2 CRR-NY 152.20 Reports {#sec-2-crr-ny-152.20 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.20}

(a) On or before September 30th of each year, the administrator shall provide to each sponsor a report which shall include, but not be limited to, the following information for the sponsor for the preceding calendar year:

(1) the total value of program assets as of January 1st;

(2) the total amount contributed to the program by the sponsor;

(3) the total amount of trustee expenses charged against program assets;

(4) the total amount of administrative expenses charged against program assets;

(5) the total amount of interest and investment earnings credited to program assets;

(6) the total amount of investment losses charged to program assets;

(7) the total amount of distributions;

(8) the total value of program assets as of December 31st;

(9) the actuarially determined normal cost and prior service cost for the preceding calendar which is payable by the sponsor in the current calendar year;

(10) the administration costs payable in the current calendar year;

(11) the names of persons paid service awards during the preceding calendar year as well as the amount paid to each person during such year;

(12) the names and earned service credit of all persons who were participants in the program, including those in pay status or pending pay status, as of December 31st of such preceding calendar year along with a statement setting forth of each person's status in the program as of such date;

(13) the names of the active volunteer ambulance workers who were not participants as of December 31st of such preceding calendar year; and

(14) the projected annual program costs for each year within the five calendar year period next following the current calendar year.

(b) On or before September 30th of each year, the administrator shall provide to each ambulance company, and immediately thereafter each ambulance company shall provide to each participant who is a member of the company, a confidential statement for the preceding calendar year which shall include, but shall not be limited to, the following information for the participant:

(1) name;

(2) address;

(3) social security number;

(4) date of birth;

(5) number of years of ambulance service credited as of December 31st;

(6) the amount of any death or disability benefit payable as of December 31st to the participant or the participant's beneficiary;

(7) whether the participant had a nonforfeitable right to a service award as of December 31st;

(8) a statement as to the number of years of ambulance service required for the participant to acquire a nonforfeitable right to a service award.

(9) name(s) of the beneficiaries designated by the participant;

(10) a description of the sponsor report;

(11) the name and address of the person to whom the sponsor report was mailed from whom they may obtain a copy of such report;

(12) the name of the person in the ambulance company who submitted information about the participant to the administrator;

(13) the procedure for correcting information shown on the statement.

2 CRR-NY 152.21 Disclosure {#sec-2-crr-ny-152.21 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.21}

(a) Not later than six months after a volunteer ambulance worker becomes a participant in a service award program, the administrator shall provide to the ambulance company of which the participant is a member, and promptly thereafter the ambulance company shall provide to the participant, a summary of the program's provisions as adopted by the sponsor of the program.

(b) In the event that a service award program is amended, the administrator shall provide to each ambulance company a copy of the amendment and a written non-technical explanation of such amendment within six months after the date on which the amendment takes effect and promptly thereafter each ambulance company shall provide a copy of the amendment and explanation to each participant who is a volunteer ambulance worker of the ambulance company.

2 CRR-NY 152.22 Standards for selecting service providers {#sec-2-crr-ny-152.22 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.22}

(a) When selecting an administrative service agency or financial organization to serve as administrator, the following standards shall be utilized:

(1) the entity's experience with defined benefit plans and/or service award programs;

(2) the entity's ability to perform the required duties; and

(3) the cost of services to be provided by the entity.

(b) When selecting an administrative service agency or financial organization to serve as program trustee or a financial organization to invest program funds, the following standards shall be utilized:

(1) the standards set forth in subdivision (a) of this section;

(2) the entity's investment expertise;

(3) the capitalization of the entity; and

(4) the entity's creditworthiness.

(c) When selecting the program actuary, the following standards shall apply:

(1) the standards set forth in subdivision (a) of this section; and

(2) the professional credentials of the person applying to be retained as the program actuary.

2 CRR-NY 152.23 Acknowledgment {#sec-2-crr-ny-152.23 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.23}

(a) Each actuary, administrative service agency or financial organization selected to provide services in connection with service award programs shall contractually agree to discharge its duties as a fiduciary to service award programs. In addition, when a financial organization is selected to perform duties in connection with investment matters, it shall contractually agree to discharge its duties as a fiduciary in accordance with the prudent expert standard of care.

2 CRR-NY 152.24 Solicitation, education and confidentiality {#sec-2-crr-ny-152.24 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.24}

(a) No financial organization, administrative service agency or actuary, nor any of their agents, shall solicit a volunteer ambulance worker to purchase any products made available by such financial organization, administrative service agency or actuary other than in connection with the program, nor use information obtained by reason of its appointment as a financial organization, administrative service agency, or actuary to solicit volunteer ambulance workers with respect to such other products.

(b) Educational materials designed to acquaint volunteer ambulance workers with the benefits of the program may be provided by the financial organization, administrative service agency, or actuary upon prior approval by the Office of the State Comptroller. In addition, at the time of distribution of a service award, an administrative service agency, financial organization, or actuary may include with the distribution written information concerning the potential tax consequences of the distribution and generic categories of investment options. Such information may contain a statement indicating that additional information may be obtained from the administrative service agency, financial organization, or actuary or their agents and from other financial institutions, but in all cases such information shall also contain a clear and prominent statement that the Office of the State Comptroller does not review, approve, endorse or recommend, and is not in any way involved with, any financial instrument, product or service offered by or acquired through, an administrative service agency, financial organization, or actuary or their agents, or any other financial institution.

(c) Except as otherwise provided by law, all information obtained under the program by the sponsor, an ambulance company, an administrative service agency, financial organization, or actuary shall be confidential and shall be used exclusively for purposes relating to the program.

2 CRR-NY 152.25 Auditing {#sec-2-crr-ny-152.25 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.25}

(a) The program records held by the administrator and the program trustee shall be audited by an independent certified public accounting firm selected and retained by the Comptroller of recognized standing in the industry. The frequency of the audits shall be at the discretion of the Comptroller; provided however, the Comptroller shall have an audit performed at least once in every five consecutive calendar year period beginning with the five year period commencing in calendar year 2000. Financial statements shall include the status of investments, a valuation of each investment and a valuation of investment holdings in the aggregate. The audit shall be performed in accordance with generally accepted auditing standards and financial statements shall be prepared in accordance with generally accepted accounting principles. Marketable securities shall be valued at market value.

2 CRR-NY 152.26 Optional forms of payment of service awards {#sec-2-crr-ny-152.26 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 152.26}

(a) There shall be two forms available for payment of service awards commencing on or after attainment of the entitlement age:

(1) a monthly payment straight life annuity (standard form);

(2) a five or ten year continuous and certain monthly payment life annuity which is actuarially equivalent to the monthly payment straight life annuity (standard form).

(b) There shall be two forms available for payment to participants who upon application to the administrator have been determined by the administrator to be totally and permanently disabled:

(1) monthly payment straight life annuity; or

(2) a single lump sum.

Both forms of payment shall be actuarially equivalent to the monthly straight life annuity (standard) form of payment that would have commenced to the participant on the first day of the month following or coinciding with the participant's 65th birthday.

(c) Forms available for payment of service awards to beneficiaries of deceased participants.

(1) If the beneficiary is the participant's estate, payment shall be a single lump-sum which shall be actuarially equivalent to the monthly straight life annuity (standard) form of payment that would have commenced to the participant on the first day of the month following or coinciding with the participant's 65th birthday or actuarially equivalent to any continuing payments to the participant's designated beneficiary had the participant been being paid a service award at the time of his or her death and had the participant designated a person (or persons) to be his or her beneficiary.

(2) If the participant died before the effective date of the commencement of payment of his or her service award, the payments to the participant's designated beneficiary, which shall be actuarially equivalent to the monthly straight life annuity (standard) form of payment that would have commenced to the participant on the first day of the month following or coinciding with the later of the participant's 65th birthday or the participant's date of death, shall be in one of the following forms:

(i) monthly payment straight life annuity; or

(ii) a single, lump sum.

(3) If the participant died after the effective date of the commencement of payment of his or her service award, the participant's designated beneficiary shall have the option to be paid:

(i) the remaining monthly service award payments due to the designated beneficiary under the optional form of payment selected by the participant; or

(ii) a single, lump-sum which is actuarially equivalent to the remaining monthly service award payments due to the designated beneficiary under the optional form of payment selected by the participant.

(d) In all cases where the monthly payments to a participant or a beneficiary under a monthly payment straight life annuity form of payment option shall be less than $50, payment shall be made in an actuarially equivalent single, lump-sum to the participant or the participant's designated beneficiary (applies to subdivisions [a], [b] and [c] of this section).

(e) In any case where a deceased participant's designated beneficiary dies before having received all service award payments that would have been made to such designated beneficiary had he or she survived, the remaining payments shall be made to the estate of such designated beneficiary in an actuarially equivalent lump-sum.

Part 153 REQUIRED TRAINING FOR COMMISSIONERS OF FIRE DISTRICTS

2 CRR-NY 153.1 Scope {#sec-2-crr-ny-153.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 153.1}

Chapter 242 of the Laws of 2006, effective on January 22, 2007, added a new section 176-e to the Town Law that requires each commissioner of a fire district to attend and successfully complete a State-approved training course within 270 days of taking office. Section 176-e requires the training course to contain training relating to such fire commissioners' legal, fiduciary, financial, procurement and ethical responsibilities, and such other disciplines as may be prescribed by the State Comptroller. That section also requires the training course to be prescribed and certified in rules promulgated by the State Comptroller, and requires such rules to establish the manner, frequency, and duration of the training course. Chapter 242 provides that the State Comptroller may promulgate any rules and regulations necessary to implement the new law prior to its effective date on January 22, 2007. Those rules are set forth in this Part.

2 CRR-NY 153.2 Definitions {#sec-2-crr-ny-153.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 153.2}

As used in this Part:

(a) Approved training course means:

(1) a training course consisting of the six course modules described in section 153.4(a)-(f) of the Part that has been certified as an approved training course pursuant to section 153.8 of this Part, and for which such certification has not expired or been revoked; or

(2) a training course offered by the State Comptroller that complies with the provisions of sections 153.4 through 153.6 of the Part.

(b) Board of fire commissioners or board means the governing body of a fire district, whether known as the board of fire commissioners or by some other name.

(c) Course module or module means one of the six components of an approved training course described in section 153.4(a)-(f) of this Part.

(d) Fire commissioner means a person who has been duly elected, reelected, appointed or reappionted to the office of commissioner of a fire district.

(e) Fire district means a district corporation established pursuant to article 11 of the Town Law, or a district corporation established for similar purposes to which the provisions of section 176-e the Town Law are applicable.

2 CRR-NY 153.3 Training requirement {#sec-2-crr-ny-153.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 153.3}

Every fire commissioner who is elected, reelected, appointed or reappointed shall attend and successfully complete an approved training course within 270 days of taking office on or after January 22, 2007. A fire commissioner may satisfy this requirement by attending and successfully completing course modules offered by different persons or organizations. A fire commissioner receiving documentation evidencing attendance and successful completion of an approved training course or course module shall retain it until the expiration of his or her term of office during which the documentation was issued, or until he or she vacates the office of fire commissioner prior to the expiration of that term, whichever is sooner.

2 CRR-NY 153.4 Content of approved training course {#sec-2-crr-ny-153.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 153.4}

An approved training course shall consist of instruction in the following six course modules:

(a) Fire district management, including:

(1) the roles and responsibilities of fire district officers, including the board of fire commissioners;

(2) the relationship between a fire district and the fire district fire department, including the powers and duties of the chief of the fire district fire department;

(3) the election, appointment and employment of fire district officers and employees;

(4) public notice requirements for, and the conduct of, fire district elections and hearings, permissive referenda, and meetings of the board of fire commissioners; and

(5) public access to fire district records.

(b) Financial administration, including:

(1) preparation, adoption, and modification of fire district budgets;

(2) methods of financing fire district capital expenditures;

(3) custody, deposit, disbursement and investment of fire district moneys;

(4) financial reporting requirements; and

(5) internal and external audits.

(c) Travel procedures and policies, including:

(1) payment or reimbursement of actual and necessary expenses incurred by officers, employees and members of the fire district or the fire district fire department;

(2) expenses incurred in connection with conferences and training;

(3) pre and post travel procedures; and

(4) travel policies.

(d) Procurements and disposition of fire district assets including:

(1) procurements of goods and services, including competitive bidding, and the adoption of procurement policies and procedures for procurements for which competitive bidding is not required;

(2) cooperative purchasing;

(3) audit of claims;

(4) use of requisitions, purchase orders and claim vouchers;

(5) maintenance of asset inventories; and

(6) the sale or other disposition of fire district assets.

(e) Internal controls, and detection of fraud and abuse, including:

(1) prevention of fraud and abuse;

(2) the need for internal controls;

(3) specific measures to create a control environment; and

(4) warning signs of potential fraud and abuse.

(f) Conflicts of interest and ethics, including:

(1) statutory conflicts of interest;

(2) codes of ethics;

(3) incompatibility of positions; and

(4) situations warranting recusal and abstention.

2 CRR-NY 153.5 Manner of providing approved training course or course module {#sec-2-crr-ny-153.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 153.5}

(a) An approved training course or course module may be provided through live instruction in a classroom or similar setting, or by means of teleconferencing, interactive web-based training, self-paced on-line training, or any other method designed to address the learning needs of fire commissioners that is approved by the State Comptroller pursuant to section 153.8 of this Part.

(b) All methods of providing an approved training course or course module shall be interactive, providing, at a minimum, opportunities for the instructor to assess progress and receive comments from the fire commissioners taking the course or module, and opportunities for the fire commissioners taking the course or course module to ask questions of the instructor.

(c) An approved training course may be offered in one of more sessions conducted on one or more days. The instructor presenting a course module shall verify attendance during, and successful completion of, the course module. No fire commissioner shall be issued documentation evidencing completion of an approved training course unless he or she successfully completes all six modules of the training course. No fire commissioner shall be issued documentation evidencing completion of a course module unless he or she successfully completes that module.

(d) When an approved training course or course module is offered at a specific location or facility, the location or facility shall comply with all legal requirements relating to physical access by persons with disabilities. Upon request, study and reference materials, and delivery of the training course or module, shall be accessible and useable by persons with disabilities through the use of means such as aides, auxiliary materials and services, and written materials in accessible formats.

(e) Within 45 days of a fire commissioner successfully completing an approved training course or course module, the person or organization offering the training course or course module shall issue to the fire commissioner documentation evidencing the date on which the fire commissioner successfully completed the training course or course module. Such person or organization shall maintain for a period of at least six years following the issuance of such documentation, and during that period make available to the State Comptroller, upon request, documentation with respect to each fire commissioner who successfully completes the training course or course module containing:

(1) the fire commissioner's name;

(2) the fire district for which the fire commissioner serves;

(3) the fire commissioner's contact information;

(4) the most recent date on which the fire commissioner took office;

(5) the course modules completed by the fire commissioner; and

(6) the date on which the fire commissioner successfully completed the course modules.

2 CRR-NY 153.6 Duration of approved training course and course modules {#sec-2-crr-ny-153.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 153.6}

(a) Except in the case of self-paced on-line training, the duration of an approved training course shall be at least six hours, with at least one hour of instruction in each course module.

(b) In the case of self-paced on-line training, an approved training course or course module shall be designed to enable verification that the training course or course module is completed.

2 CRR-NY 153.7 Frequency of approved training course and course modules {#sec-2-crr-ny-153.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 153.7}

(a) Each person or organization that has received certification of an approved training course pursuant to section 153.8 of this Part, which certification has not expired or been revoked, shall offer each course module at least once a year.

(b) Except in the case of self-paced on-line training, within 30 days of receiving such certification and, thereafter, annually, on or before the 15th day of January, every such person or organization shall establish a schedule specifying the date, time and location that each course module will be offered. Such person or organization shall take timely and reasonable steps to announce such schedule to the fire commissioners serving fire districts in the vicinity of the location that the course modules will be offered.

2 CRR-NY 153.8 Certification as an approved training course {#sec-2-crr-ny-153.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 153.8}

(a) Any person or organization may develop a training course which complies with the provisions of sections 153.4 through 153.6 of this Part and apply to the State Comptroller for certification of the course as an approved training course.

(b) Application for certification as an approved training course shall be made on a form prescribed by the State Comptroller. The application shall:

(1) identify the applicant, including the applicant's address and contact information;

(2) describe how the applicant intends to comply with the provisions of section 153.4 and 153.6 of the Part by including a detailed outline of each course module which specifies the amount of time to be devoted to each subject and topic included within the module;

(3) describe how the applicant intends to comply with the provisions of sections 153.5 and 153.7 of this Part; and

(4) list each city or town in which the applicant expects to offer the training course if the training course is to be offered at one or more specific locations or facilities.

(c) Applications shall be evaluated on the basis of compliance with the provisions of sections 153.4 through 153.6, and 153.7 of this Part.

(d) Within 45 days of receiving an application for certification as an approved training course, the State Comptroller shall approve or disapprove the application.

(e) If an application for certification as an approved training course is approved, the State Comptroller shall issue to the applicant documentation evidencing such certification. Except as provided in subdivision (g) of this section, such certification shall be valid for the five-year period commencing on the date of issue of such documentation and shall expire at the end of that period. The date on which the certification expires shall be shown on the documentation. The applicant shall retain the documentation until the date on which the certification expires. Commencing 90 days prior to the date on which the certification expires, a person or organization may reapply for certification.

(f) If an application for certification as an approved training course is disapproved, the State Comptroller shall issue to the applicant a statement indicating the reason or reasons for the disapproval. Following the receipt of that statement, the applicant may submit a new application pursuant to this section.

(g) The State Comptroller may revoke certification as an approved training course in the event that the Comptroller determines that there has been a material departure from the requirements of sections 153.4 through 153.7 of this Part, or a material departure from the representations made in the application for certification. Prior to revoking certification, the State Comptroller shall issue to the person or organization to which the certification was issued notice of intent to revoke the certification, stating the reason for revoking the certification and providing the person or organization with 20 days to reply. If the State Comptroller does not receive a written reply within the 20 days, or if a timely reply is determined to be unsatisfactory, the Comptroller may revoke the certification by issuing to the person or individual a notice of revocation stating the reason for revoking the certification.

(h) The State Comptroller shall maintain a record of all persons and organizations which have received certification of an approved training course, the dates on which such certifications expire and, if a certification has been revoked, the date of the revocation.

Part 154 STATE-ADMINISTERED DEFINED CONTRIBUTION SERVICE AWARD PROGRAMS FOR VOLUNTEER FIREFIGHTERS

2 CRR-NY 154.1 Scope {#sec-2-crr-ny-154.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.1}

Article 11-A of the General Municipal Law authorizes the establishment of defined contribution service award programs to provide municipally-funded, pension-like benefits for volunteer firefighters. In general, defined contribution volunteer firefighter service award programs may be adopted by political subdivisions for the volunteer firefighters of volunteer fire companies or volunteer fire departments which are either:

(a) under the control of the governing board of the political subdivision; or

(b) located in a fire protection district of the political subdivision and under contract with the governing board to provide service therein. Adoption of a defined contribution volunteer firefighter service award program requires the affirmative vote of at least 60 percent of the governing board of the political subdivision and the approval of a proposition at a referendum of the eligible voters of the political subdivision. Article 11-A requires defined contribution volunteer firefighter service award programs to be either:

(1) administered by the political subdivision; or

(2) centrally administered by the State Comptroller or by service providers retained by the Comptroller. The Comptroller is required and authorized to adopt rules and regulations for defined contribution volunteer firefighter service award programs administered by the State. The rules and regulations must include standards for the selection of service providers, the method and timing of payments required to be made by the sponsors, reporting requirements, matters relating to the preparation of a plan document, application procedures for transfer into the State-administered program, procedures and forms for the compilation and maintenance of the points accumulated by each volunteer firefighter, and any other matter relating to State- administered defined contribution volunteer firefighter service award programs. This Part contains the regulations governing such State-administered defined contribution volunteer firefighter service award programs.

2 CRR-NY 154.2 Definitions {#sec-2-crr-ny-154.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.2}

(a) Unless otherwise defined, the terms used in this Part shall have the same meaning as provided in article 11-A of the General Municipal Law.

(b) In addition, as used in this Part:

(1) Account means the bookkeeping account established for a participant by the administrator.

(2) Account balance means, as of any given time, the value of all contributions credited to a participant's account, plus all interest, earnings and gains thereon, and minus all losses, distributions, forfeitures and necessary administrative costs charged thereto.

(3) Administrator means the State Comptroller or, if the Comptroller retains an administrative service agency or financial organization to perform the functions set forth in section 154.10 of this Part, such administrative service agency or financial organization.

(4) Comptroller means the New York State Comptroller.

(5) Participant means a volunteer firefighter who is eligible for a benefit under a State- administered defined contribution volunteer firefighter service award program.

(6) Prior service contribution means a contribution to a defined contribution volunteer firefighter service award program made by the sponsor of the program on behalf of a participant for volunteer firefighter service rendered by the participant during anyone of the five calendar years immediately preceding the adoption of the program. A volunteer firefighter service award program established by a local sponsor prior to June 1, 2007 may, at the option of the local sponsor, provide for prior service contributions for volunteer firefighter service rendered during a period longer than the five calendar years immediately preceding the adoption of the program.

(7) Sponsor means a county, city, town, town on behalf of a fire protection district, village, village on behalf of a fire service area, or fire district which adopts a State-administered defined contribution volunteer firefighter service award program.

(8) State-administered defined contribution volunteer firefighter service award program means a service award program for volunteer firefighters established or maintained as a defined contribution plan for which State administration has been selected pursuant to article 11-A of the General Municipal Law.

(9) Valuation date means the last day of each calendar quarter, and each other day as may be determined by the administrator, as of which the administrator shall determine the value of participants' account balances.

2 CRR-NY 154.3 Notice of adoption or transfer {#sec-2-crr-ny-154.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.3}

(a) Cost estimates.

Prior to consideration of a resolution authorizing adoption of a State-administered defined contribution volunteer firefighter service award program, or the transfer of a locally-administered defined contribution volunteer firefighter service award program to State administration, the governing board of a political subdivision shall obtain from the administrator an estimate of the annual cost of the State-administered defined contribution volunteer firefighter service award program. In making such estimate, the administrator shall calculate each separate component of the total estimated cost of a proposed State-administered defined contribution volunteer firefighter service award program. In the case of a transfer of a locally-administered defined contribution volunteer firefighter service award program to State administration, the administrator shall also estimate the additional amount, if any, determined to be necessary to fully fund all existing obligations of such program, up to and including contributions for credit for a year of firefighting service performed during the calendar year immediately preceding the year in which State administration is anticipated to commence and unfunded prior service costs. To enable the administrator to make such estimates, the sponsor and each volunteer fire company or volunteer fire department having members who are potential participants in the State-administered defined contribution volunteer firefighter service award program shall provide to the administrator such information as the administrator may require, and the administrator may rely upon such information in making such estimates. The administrator shall make such estimates using the methodology and assumptions that would be used to calculate the contributions payable by the sponsor pursuant to section 154.6 of this Part. Before beginning to make such estimates, the administrator shall disclose to the governing board in writing the fee for preparing such estimates. The fee for preparing the estimates shall not exceed the amount which the administrator is permitted to charge for such service pursuant to an agreement between the administrator and the Comptroller. The cost of such estimates shall be a charge against the sponsor.

(b) For any defined contribution volunteer firefighter service award program which, on or after June 1, 2007, is to be State-administered pursuant to voter approval of either:

(1) the adoption of such a program; or

(2) the transfer of administration of such a program to the State of New York, the chief executive officer of the sponsor shall, within 30 days after the approval of a proposition authorizing the adoption or transfer, submit to the State Comptroller by e-mail or other method prescribed by the Office of the State Comptroller, a verified notice of adoption or transfer which shall contain the following:

(i) a statement of the date on which the governing board of the sponsor approved the resolution authorizing adoption of the State-administered defined contribution volunteer firefighter service award program or transfer to the state of the administration of a defined contribution volunteer firefighter service award program and the vote thereon, and a certified copy of the resolution;

(ii) a statement of the date on which the eligible voters of the sponsor approved the proposition authorizing adoption of the State-administered defined contribution volunteer firefighter service award program or transfer to the state of the administration of a defined contribution volunteer firefighter service award program and the vote thereon, and a certified copy of the proposition;

(iii) an opinion of legal counsel which shall:

(a) be addressed to the sponsor;

(b) expressly provide that the administrator may rely thereon;

(c) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to, the provisions of article 11-A of the General Municipal Law and such other laws as may be relevant; the resolution of the governing board of the sponsor authorizing the adoption of the State-administered defined contribution service award program or the transfer to the state of the administration of a defined contribution volunteer firefighter service award program; proof of any posting and publication of required notice; the certificate certifying the result of the vote on the proposition authorizing the adoption of the State-administered defined contribution volunteer firefighter service award program or the transfer to the state of the administration of a defined contribution volunteer firefighter service award program; and proof that the cost estimates prepared pursuant to subdivision (a) of this section were disclosed in the proposition; and

(d) express his or her opinion that the sponsor has undertaken all actions and proceedings required by law to adopt the State-administered defined contribution volunteer firefighter service award program or the transfer to the State of the administration of a defined contribution volunteer firefighter service award program;

(iv) a statement of the name, address and telephone number of the chief executive officer of the sponsor; and

(v) a statement of the name, address and telephone number of each volunteer fire company or volunteer fire department having volunteer firefighters who are potential participants in a newly established State-administered defined contribution volunteer firefighter service award program or participants in an existing defined contribution volunteer firefighter service award program being transferred to State administration.

2 CRR-NY 154.4 Adoption or transfer agreement {#sec-2-crr-ny-154.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.4}

(a)

(1) State administration of a newly adopted defined contribution volunteer firefighter service award program shall not be effective until the sponsor and the administrator deliver to each other duly executed originals of an adoption or transfer agreement setting forth the obligations of the sponsor and the locally-determined features of the defined contribution volunteer firefighter service award program.

(2) No transfer to the State of responsibility for administration of a defined contribution volunteer firefighter service award program shall be effective until:

(i) the sponsor and the administrator deliver to each other duly executed originals of an adoption or transfer agreement setting forth the obligations of the sponsor and the locally- determined features of the defined contribution volunteer firefighter service award program; and

(ii) the sponsor pays in full to the administrator the cash value of all program assets plus any additional amount determined by the administrator to be necessary to fully finance all existing obligations of such program, up to and including contributions for credit for years of firefighting service performed during the calendar year immediately preceding the year in which State administration commences and any unpaid prior service costs payable in a lump sum pursuant to section 154.7(a) of this Part. Such payment shall be made in cash or cash equivalents acceptable to the administrator, and the administrator shall not be obligated to accept an insurance contract, a security, or any other asset that is not cash or a cash equivalent. Such payment shall be made at the time that the adoption or transfer agreement is submitted to the administrator pursuant to subdivision (c) of this section.

(3) An adoption or transfer agreement shall include, but shall not be limited to, the following provisions:

(i) an original or copy of the notice of adoption or transfer submitted by the sponsor pursuant to section 154.3 of this Part, together with a warranty by the sponsor of the accuracy and completeness of the information set forth in such notice and an express agreement by the sponsor to submit promptly to the administrator such additional information as may be necessary to make the records of the defined contribution volunteer firefighter service award program accurate and complete;

(ii) an express agreement by the sponsor to pay to the administrator on time and in full all required annual contributions, fees, charges, or assessments determined by the administrator;

(iii) in the case of a defined contribution volunteer firefighter service award program being transferred from local administration to State administration, a statement of the payment to be made to the administrator by the sponsor for the purpose of fully financing the obligations of the defined contribution volunteer firefighter service award program, together with an express agreement by the sponsor to make such payment to the administrator at the time that the adoption or transfer agreement is submitted to the administrator pursuant to subdivision (c) of this section, and an express agreement by the sponsor to turn over to the administrator in a timely manner such records as the administrator deems necessary to effectuate such transfer;

(iv) an express agreement by the sponsor:

(a) that the Comptroller shall have the authority to suspend or terminate State administration of a defined contribution volunteer firefighter service award program at any time the Comptroller determines that the sponsor has failed, for more than 30 days beyond the due date, to make any required payment or to satisfy any other material obligation of the adoption or transfer agreement;

(b) that the Comptroller may elect, at his or her sole option, to collect any required payment or other material obligation owed by the sponsor by delivering to the sponsor a duly executed order specifying the overdue amount and requiring the sponsor to pay such amount from any funds available therefor;

(c) that the Comptroller may elect, at his or her sole option, to collect any required payment or other material obligation owed by the sponsor by intercepting the requisite amount from any State aid payment or other amount otherwise due to the sponsor from the State and applying the same to satisfy the overdue obligation; and

(d) that, notwithstanding such suspension or termination, the sponsor shall continue to be obligated to make all required payments and to satisfy all other material obligations of the adoption or transfer agreement;

(v) a statement that the sponsor agrees to abide by the provisions of article 11-A of the General Municipal Law, the rules and regulations promulgated thereunder and the program document, as amended from time to time. The adoption or transfer agreement shall be completed by incorporating the following locally-determined features of the State-administered defined contribution volunteer firefighter service award program:

(a) entitlement age;

(b) the number of years of volunteer firefighter service required for a participant to obtain a nonforfeitable right to a service award;

(c) the amount to be contributed to the program by the sponsor on behalf of each participant who is credited with a year of firefighting service;

(d) whether the sponsor shall make prior service contributions and, if so, the number of years for which such contributions shall be made and, if such prior service contributions have not been fully paid prior to commencement of State administration, an irrevocable election to pay prior service contributions in the form of a single lump sum payment or in annual installments as provided in section 154.7 of this Part;

(e) the amount of any optional additional line of duty disability or death benefit;

(f) the date as of which the newly adopted State-administered defined contribution volunteer firefighter service award program shall take effect;

(g) if the State-administered defined contribution volunteer firefighter service award program is to take effect on a day other than the first day of January, a statement setting forth whether points toward a year of firefighting service shall be granted for activities performed between the immediately preceding first day of January and the effective date of the State-administered defined contribution volunteer firefighter service award program; and

(vi) a certification that, prior to the approval of a resolution by a governing board and the approval of a proposition by voters authorizing the transfer of a locally-administered defined contribution volunteer firefighter service award program to State administration, the sponsor fully disclosed to each participant in the locally-administered program the estimated effects of such transfer on the value of such participant's defined contribution account, including, but not limited to, any investment losses incurred during local administration, any investment losses anticipated as a result of trading or liquidating program assets in order to acquire assets acceptable to the State program administrator, and any fees and expenses incident to the transfer; and

(vii) such other provisions as the Comptroller may deem necessary and advisable to assure the proper financing and management of the State-administered defined contribution volunteer firefighter service award program.

(b) Within 30 days of receipt of the notice of adoption or transfer required by section 154.3 of this Part, the administrator shall send to the chief executive officer of the sponsor a copy of the program document and an adoption or transfer agreement for the State-administered defined contribution volunteer firefighter service award program.

(c) Within 30 days of receipt of the adoption or transfer agreement, the chief executive officer shall complete and execute two originals of the adoption or transfer agreement, retain one executed original of the adoption or transfer agreement and the program document and trust agreement as public records, and submit one executed original of the adoption or transfer agreement to the administrator. The chief executive officer shall also cause a copy of the adoption or transfer agreement and program document and trust agreement to be provided to each volunteer fire company or volunteer fire department for which the State-administered defined contribution volunteer firefighter service award program is adopted or for which the responsibility for administration is transferred to the Comptroller or service providers retained by the Comptroller.

(d) The administrator shall rely on the information set forth in the adoption or transfer agreement until such time as the chief executive officer of the sponsor files a notice of amendment or a notice of termination with the administrator as provided in section 154.9 of this Part.

2 CRR-NY 154.5 Collection of personal information {#sec-2-crr-ny-154.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.5}

(a) Except as provided in subdivision (b) of this section, annually, at such time and in such form as the administrator may require, the chief executive officer of the sponsor shall obtain from each volunteer fire company or volunteer fire department for which the State-administered defined contribution volunteer firefighter service award program is established for submission to the administrator, and each volunteer fire company or volunteer fire department shall provide to the chief executive officer for such purpose, the following information for each volunteer firefighter of the volunteer fire company or volunteer fire department, whether or not such volunteer firefighter is a participant in the State-administered defined contribution volunteer firefighter service award program:

(1) name;

(2) address;

(3) social security number;

(4) date of birth;

(5) name of the volunteer fire company or volunteer fire department;

(6) beneficiaries; and

(7) such other information as the administrator determines necessary for the administration of the State-administered defined contribution volunteer firefighter service award program.

(b) In lieu of requiring the chief executive officer of the sponsor to obtain the information specified in subdivision (a) of this section for submission to the administrator, the administrator may request the chief executive officer of a volunteer fire company or volunteer fire department to obtain and submit such information to the administrator. In such case, the chief executive officer of the volunteer fire company or volunteer fire department shall provide a copy of the information submitted to the administrator to the chief executive officer of the sponsor.

(c) The chief executive officer of the sponsor shall retain a copy of the information obtained pursuant to this section for use solely in connection with the administration of the State- administered defined contribution volunteer firefighter service award program.

(d) To the extent required by the Personal Privacy Protection Law, article 6-A of the Public Officers Law, all personal information obtained pursuant to this section shall be protected from public disclosure.

2 CRR-NY 154.6 Service credit and payment of contributions {#sec-2-crr-ny-154.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.6}

(a) Each volunteer fire company or volunteer fire department for which a State-administered defined contribution volunteer firefighter service award program is in effect shall maintain at all times for each volunteer firefighter of the volunteer fire company or volunteer fire department, whether or not such volunteer firefighter is a participant in the State-administered defined contribution volunteer firefighter service award program, a record of the activities performed and points granted toward a year of firefighting service. The administrator may prescribe the form and manner of compiling and maintaining such records.

(b) On or before March 31st of each year, each volunteer fire company or volunteer fire department for which a State-administered defined contribution volunteer firefighter service award program is adopted shall prepare and submit to the governing board of the sponsor a list of all the volunteer firefighters of the volunteer fire company or volunteer fire department which identifies all those who have qualified for credit for a year of firefighting service during the preceding calendar year. Such list shall be certified under oath by the president, secretary and chief or comparable officers of the volunteer fire company or volunteer fire department and shall be accompanied by such membership records or records of point accumulations as the governing board may require to substantiate the accuracy of the list. Such list shall also identify those volunteer firefighters who have waived participation in the State-administered defined contribution volunteer firefighter service award program as provided in subdivision (f) of this section.

(c) On or before May 1st of each year, the governing board of the sponsor shall review each such certified list and may delete the name of any person who was not a volunteer firefighter during the preceding calendar year or disallow the service credit of any volunteer firefighter who did not earn or otherwise receive 50 points during the preceding calendar year or whose point accumulation has not been adequately documented. Thereafter, the governing board shall approve each such certified list of volunteer firefighters and each volunteer firefighter named thereon shall be credited with a year of firefighting service. Upon approval, the governing board shall cause a copy of each list to be returned to the appropriate volunteer fire company or volunteer fire department and each volunteer fire company or volunteer fire department shall, immediately upon receipt, post the list in a conspicuous place at its principal headquarters for at least 30 days and maintain a record of the date on which the list is posted; provided, however, that no personal identifying information shall be included in the list that is posted except the names of the firefighters credited with a year of firefighting service.

(d) Not later than 30 days after the approved list is posted by the volunteer fire company or volunteer fire department, any volunteer firefighter whose name does not appear on the list as having qualified for credit for a year of firefighting service may appeal to the governing board of the sponsor to have his or her name added to the list. The appeal shall be in writing and mailed to the clerk or secretary of the governing board of the sponsor. The governing board shall investigate all appeals and upon finding that such a volunteer firefighter has qualified for a year of firefighting service for the preceding calendar year, shall order the volunteer firefighter's name to be added to the approved list.

(e) On or before July 1st of each year, the governing board of the sponsor shall cause a certified copy of the approved list to be filed with the administrator.

(f) Any volunteer firefighter not wishing to participate in the State-administered defined contribution volunteer firefighter service award program may waive participation by filing with the chief executive officer of the volunteer fire company or volunteer fire department, the chief executive officer of the political subdivision and the administrator a written notice of waiver of participation. Such waiver shall remain effective until withdrawn in the same manner. During the period such a waiver remains effective, a volunteer firefighter shall not earn service credit, nor be entitled to a distribution from the State-administered defined contribution volunteer firefighter service award program.

(g) Notwithstanding the provisions of subdivisions (b) through (e) of this section, if, as of the effective date of the conversion of the locally-administered defined contribution volunteer firefighter service award program into a State-administered defined contribution volunteer firefighter service award program, the governing board of a sponsor has approved a certified list of volunteer firefighters qualified for credit for a year of firefighting service rendered during the preceding calendar year in substantial compliance with the procedures set forth in subdivisions (b) through (d) of this section, excepting the dates set forth therein, the governing board shall comply with the filing requirement of subdivision (e) of this section no later than 30 days after the chief executive officer of the sponsor files a completed and executed copy of the adoption or transfer agreement with the administrator pursuant to section 154.4 of this Part.

(h)

(1) Commencing on November 15th of the year in which State administration begins, and each November 15th thereafter, the administrator shall estimate the amount that each sponsor is required to contribute to a State-administered defined contribution volunteer firefighter service award program for the current calendar year, including any prior service contributions required to be paid in such year pursuant to section 154.7 of this Part, and any additional amounts determined by the administrator to be necessary to fully finance all existing obligations of such program. The administrator shall submit to the fiscal officer of each sponsor a statement of the amount so payable, plus any administrative costs payable by the sponsor. For good cause shown, the administrator may recalculate the contribution and issue a corrected statement. If, as a result of the amount determined to be paid for any calendar year, a sponsor overpaid its actual obligation for that year, the amount to be determined by the administrator for the next succeeding November 15th shall reflect the amount of the overpayment, plus interest, as a reduction in the amount otherwise required to be paid by such sponsor.

(2) Within 60 days after the date of a statement issued pursuant to paragraph (1) if this subdivision, the sponsor shall pay to the administrator the total amount due as shown on such statement.

(3) Interest shall accrue and be paid by the sponsor on all amounts due, but not received by the administrator within 60 days after the date of the statement issued pursuant to paragraph (1) of this subdivision. The interest rate or rates used to calculate such interest shall be the actual investment return rate earned by the volunteer firefighters' defined contribution service award program trust fund during the calendar year (or years) in which such unpaid contributions were due to be paid.

(4) The administrator shall notify the Comptroller of any amounts remaining unpaid more than 90 days after the date of the statement issued pursuant to subdivision (a) of this section.

(5) In the event that a sponsor does not submit to the administrator an approved list in accordance with subdivision (e) or (g) of this section, the administrator shall bill the sponsor for the contribution due for the calendar year in which the list should have been submitted in an amount calculated by the administrator equal to the estimated contribution due during such year. Such estimated contribution shall be calculated by the administrator as if all volunteer firefighters named on the latest year's approved list received by the administrator continued to be volunteer firefighters and all such persons earned a year of service credit during the calendar year for which the list should have been prepared in accordance with subdivision (e) or (g) of this section. Payment of such estimated contribution shall be made in accordance with paragraphs (1) through (3) of this subdivision as if the administrator's estimate was based upon the actual approved lists prepared in accordance with subdivisions (a) through (e) of this section. Upon receipt by the administrator of the actual approved list prepared in accordance with subdivisions (a) through (e) of this section, the administrator shall recompute the contributions due for such calendar year. In the event that additional contributions are owed by the sponsor (including any additional administration costs), the administrator shall bill the sponsor for such additional amounts. Interest shall be paid by the sponsor on all additional amounts owed and shall accrue from the due date of the payment of the estimated contribution billed to the sponsor by the administrator with such interest calculated in accordance with paragraph (3) of this subdivision. Any excess of the estimated contributions over the actual contributions shall be treated as an overpayment by the sponsor in the manner provided in subdivision (a) of this section. The amount of such overpayment shall be reduced by any related additional administration costs charged by the administrator. The assessment of any extra additional administration charges payable by the sponsor to the administrator because of the failure to comply with subdivisions (a) through (e) of this section shall be in accordance with the contract between the Comptroller and the administrator.

(i) (a) Forfeitures shall be used to reduce contributions for other service award participants.

(b) In the event that two years have elapsed since an inactive volunteer firefighter participant or a participant's designated beneficiary becomes eligible to apply for a service award and the administrator does not receive an application for distribution, the administrator, the sponsor and the volunteer fire company or volunteer fire department in which the participant was a member shall attempt to notify the person or persons to whom the service award would be paid. In the event that the administrator, in his or her sole discretion, determines that a reasonable attempt has been made to contact such person or persons without success, the service award payable shall then be considered as forfeited for the purpose of determining future contributions payable by the sponsor.

(c) A participant who ceases to be a volunteer firefighter before he or she has earned a nonforfeitable right to a service award shall forfeit his or her service credit and account balance upon receipt by the administrator of notice from the sponsor and the appropriate volunteer fire department or volunteer fire company that the individual has ceased to be a volunteer firefighter. The provisions of this subdivision shall not apply to a volunteer firefighter who is determined to be totally and permanently disabled in accordance with section 154.8(d) of this Part.

(d) In the event that a person whose service credit and account balance were forfeited in accordance with paragraph (3) of this subdivision resumes being a volunteer firefighter within the five-year period beginning immediately after the calendar year in which he or she ceased to be a volunteer firefighter, such person's forfeited service credit shall be restored as of December 31st of the first calendar year for which he or she again qualifies for a year of firefighting service credit and again becomes a participant in the State- administered defined contribution volunteer firefighter service award program in which he or she formerly was a participant.

2 CRR-NY 154.7 Prior service contributions {#sec-2-crr-ny-154.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.7}

(a) In the event that a State-administered defined contribution service award program provides for prior service contributions, each volunteer fire company or volunteer fire department for which the program is adopted shall identify on the list prepared pursuant to section 154.6(b) of this Part those participants who are entitled to one or more prior service contributions and the number of years for which each participant is entitled to such prior service contributions. Any participant who is denied a prior service contribution for one or more years may appeal to the governing board at the same time, in the same manner, and with like effect as provided in section 154.6(d) of this Part. Except as provided in subdivision (b) or (d) of this section, prior service contributions shall be paid to the administrator in a single lump sum.

(b) In the case of a State-administered defined contribution volunteer firefighter service award program that is initially established as a State-administered defined contribution volunteer firefighter service award program, the governing board of the sponsor may elect to pay service contributions over the five-year period beginning with the calendar year in which the program first takes effect; provided, however, that if a volunteer firefighter first qualifies for a year of firefighting service for a calendar year later than the first calendar year in which the program first takes effect, and thereby becomes a participant entitled to prior service credit, then any prior service contribution attributable to such prior service credit shall be paid over the five-year period beginning with the calendar year for which the volunteer firefighter first qualified for a year of firefighting service. Where such an election is made, the first annual installment shall be paid to the administrator at the same time that the first contribution on behalf of a participant is made pursuant to section 154.6 of this Part. Each subsequent annual installment shall be paid in each of the four years immediately succeeding the year in which the first installment is paid, together with interest at the rate determined pursuant to subdivision (c) of this section on the unpaid balance of the prior service contribution as of the date of such payment; provided, however, that in the event that the administrator notifies the sponsor that a participant has been determined eligible for a distribution of a service award prior to the payment of the fifth annual installment, the governing board of the sponsor shall cause payment to be made to the administrator of an unscheduled prior service contribution within 30 days of receiving such notice. The unscheduled prior service contribution shall equal the unpaid balance of the participant's prior service contribution plus interest at the rate determined pursuant to subdivision (c) of this section on such unpaid balance.

(c) On or before March 31st of each year the administrator shall determine the rate of interest to be paid on the unpaid balance of prior service contributions. The rate of interest shall equal the rate of return on program assets during the preceding calendar year. The administrator shall notify sponsors of the rate of interest by inclusion in, or enclosure with, the report required by section 154.12(a) of this Part.

(d) Notwithstanding the provisions of subdivisions (a) and (b) of this section, if, as of the effective date of the conversion of the locally-administered defined contribution volunteer firefighter service award program into a State-administered defined contribution volunteer firefighter service award program, the governing board of a sponsor has not approved a certified list of volunteer firefighters qualified for credit for a year of firefighting service rendered during the preceding calendar year which identifies those participants who, by virtue of earning such credit, became entitled to one or more prior service contributions in substantial compliance with the procedures referred to in subdivision (a) of this section, the list prepared pursuant to section 154.6(g) of this Part shall identify such participants and the number of years for which each participant is entitled to prior service contributions. A participant who is denied a prior service contribution for one or more years may appeal to the governing board of the sponsor at the same time, in the same manner, and with like effect as provided in section 154.6(d) of this Part. Payment of prior service contributions shall be made in a single lump sum or in installment payments as provided in subdivision (b) of this section.

(e) If, as of the effective date of the conversion of a locally administered defined contribution volunteer firefighter service award program into a State-administered defined contribution volunteer firefighter service award program, the governing board of a sponsor has approved a certified list of volunteer firefighters qualified for credit for a year of firefighting service rendered during the preceding calendar year which identifies those participants who, by virtue of earning such credit, became entitled to one or more prior service contributions in substantial compliance with the procedures referred to in subdivision (a) of this section, the sponsor shall pay such prior service contributions in a single lump sum or in installment payments as provided in subdivision (b) of this section.

2 CRR-NY 154.8 Distributions {#sec-2-crr-ny-154.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.8}

(a) A service award shall equal a participant's account balance as of the valuation date immediately succeeding application for distribution of the service award plus any unscheduled prior service contributions received by the administrator pursuant to section 154.7 of this Part. A service award shall be paid in the form of a lump sum distribution or in such other manner selected by the participant in his or her application for distribution of the service award as may be permitted by the terms and conditions of the program document.

(b) Except as otherwise provided in this section, a participant shall be entitled to apply for and receive distribution of a service award only when the participant has reached entitlement age.

(c) A service award shall be payable only after an application for distribution is filed with the administrator and the administrator approves the application, and shall be paid as soon as practicable following approval of the application and the valuation date next succeeding the date the application is received by the administrator. The administrator shall determine whether to approve an application based on the terms of the sponsor's adoption agreement, the records maintained by the administrator and, in the case of disability or death, such additional records or information as the administrator may require. The administrator, in its sole discretion, may require the sponsor, the appropriate volunteer fire company or volunteer fire department or the participant to verify or supply any information the administrator deems necessary to determine entitlement to distribution of a service award.

(d) In the event that a participant becomes totally and permanently disabled as certified by the workers' compensation board or by any other competent authority approved by the administrator, and the disability prevents the participant from pursuing his or her normal occupation, the participant shall be entitled to apply for and receive distribution of a service award regardless of whether the participant has reached entitlement age or has acquired a nonforfeitable right to a service award. If a State-administered defined contribution volunteer firefighter service award program includes an optional additional disability benefit that the sponsor has elected to provide for a participant who becomes disabled during the course of service as an active volunteer firefighter while actively engaged in providing a line of duty service, then, in the event that a participant becomes totally and permanently disabled as a result of such cause and such total and permanent disability is certified by the workers' compensation board or by any other competent authority approved by the administrator, the participant shall be entitled to apply for and receive distribution of such optional additional disability benefit in the form of a monthly payment for life in the amount stated in the referendum authorizing such benefit.

(e) In the event of the death of a participant who has acquired a nonforfeitable right to a service award and who has not previously received distribution of all or any portion of a service award, the beneficiary or beneficiaries designated by the participant or, if no beneficiary has been designated, the participant's estate, shall be entitled to apply for and receive distribution of the participant's service award regardless of whether the participant had reached entitlement age before death. If a participant dies after receiving distribution of less than the full amount of the service award, the remaining portion, if any, shall be paid in accordance with the distribution option selected by the participant in his or her application for distribution of the service award made pursuant to this section. If a State-administered defined contribution volunteer firefighter service award program includes an optional additional death benefit that the sponsor has elected to provide for a participant who dies during the course of service as an active volunteer firefighter while actively engaged in providing a line of duty service, then, in the event that a participant dies as a result of such cause, the beneficiary or beneficiaries designated by the participant or, if no beneficiary has been designated, the participant's estate, shall be entitled to apply for and receive distribution of such additional optional death benefit in the amount stated in the referendum authorizing such benefit.

(f) In the event that the sponsor has elected to pay prior service contributions in installments as provided in section 154.7 of this Part and the administrator determines that a participant is eligible for a distribution of a service award prior to the payment of all annual installments of the participant's prior service contribution, the administrator shall promptly notify the sponsor of the amount of the unscheduled prior service contribution which must be paid to the administrator.

2 CRR-NY 154.9 Notice of amendment or termination {#sec-2-crr-ny-154.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.9}

(a) Once a State-administered defined contribution volunteer firefighter service award program has been adopted, the sponsor may amend or terminate its participation in the State- administered defined contribution volunteer firefighter service award program in the manner provided by article 11-A of the General Municipal Law.

(b) Within 30 days after the amendment of any of the terms of a State-administered defined contribution volunteer firefighter service award program set forth in the adoption or transfer agreement, or the termination of the sponsor's participation in a State-administered defined contribution volunteer firefighter service award program, the chief executive officer of the sponsor shall file with the administrator a verified notice of amendment or notice of termination which shall contain the following:

(1) a statement of the date on which the governing board of the sponsor approved the resolution authorizing the amendment or termination of participation in the State-administered program and the vote thereon, and a certified copy of the resolution;

(2) in the case of termination, or in the case of an amendment requiring submission of a proposition to the eligible voters of the sponsor, a statement of the date on which the eligible voters approved the proposition authorizing the amendment or termination and the vote thereon, and a certified copy of the proposition; and

(3) an opinion of legal counsel which shall:

(i) be addressed to the sponsor;

(ii) expressly provide that the administrator may rely thereon;

(iii) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to, the provisions of article 11-A of the General Municipal Law and such other laws as may be relevant, the resolution of the governing board of the sponsor authorizing the amendment or termination of the program, proof of any posting and publication to give required notice and the certificate certifying the result of the vote on the proposition authorizing the amendment or termination of the State-administered defined contribution volunteer firefighter service award program; and

(iv) express his or her opinion that the sponsor has undertaken all actions and proceedings required by law to amend or terminate the State-administered defined contribution volunteer firefighter service award program.

(c) Within 30 days of the receipt of a notice of amendment, the administrator shall send to the chief executive officer of the sponsor two copies of an amended form of adoption or transfer agreement. The chief executive officer shall complete the copies of the amended form of adoption or transfer agreement by incorporating the terms of the amendment, and shall execute, retain, file, and provide a copy of the amended adoption or transfer agreement to each volunteer fire company or volunteer fire department, in the same manner as the original adoption or transfer agreement.

(d) Any amendment to the program by the sponsor shall only take effect as of January 1st of the calendar year following the amendment and shall only apply prospectively.

2 CRR-NY 154.10 Administration {#sec-2-crr-ny-154.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.10}

(a) State-administered defined contribution volunteer firefighter service award programs shall be administered by the State Comptroller unless the Comptroller retains an administrative service agency or financial organization to administer the programs. Upon receipt of a notice of adoption or transfer of a defined contribution volunteer firefighter service award program the Office of the State Comptroller shall notify the chief executive officer of the sponsor of the name, address and telephone number of the administrator and, if the administrator is not the State Comptroller, forward one copy of the notice of adoption or transfer to the administrator. In the event that there is a change in the identity of the administrator, the Office of the State Comptroller shall notify the chief executive officer of each sponsor of a State-administered defined contribution volunteer firefighter service award program of the identity of the new administrator.

(b) The administrator shall:

(1) prepare a standard form of program document which shall be utilized by all program sponsors;

(2) prepare all forms necessary for the administration of the program;

(3) compile and maintain all records required for the administration of the program, including records of participant account balances;

(4) prepare and distribute to participants, volunteer fire companies or volunteer fire departments and sponsors reports and program summaries as required by this Part;

(5) if the Comptroller is not the administrator, prepare and furnish to the Comptroller such reports as the Comptroller may require;

(6) record and process contributions made by program sponsors;

(7) approve applications for distributions of service awards;

(8) record and process distributions of service awards;

(9) withhold all taxes and prepare all tax reporting forms required by Federal, State and local law; and

(10) perform such other functions as may be required by or pursuant to article 11-A of the General Municipal Law and this Part.

(c) The Comptroller may designate himself or herself as the program trustee or the Comptroller may contract with a financial organization or administrative service agency to serve as program trustee. The program trustee shall:

(1) hold the assets of the programs in trust;

(2) receive and process contributions to the trust in a timely manner;

(3) invest the assets of the trust;

(4) annually determine the fair market value of the trust estate;

(5) make payments approved by the administrator to program participants and their beneficiaries, and other approved disbursements from the trust fund;

(6) provide the administrator with such information as may be necessary to enable the administrator to prepare the annual reports for sponsors and annual participant statements provided for in this Part and program agreement, including the reports and statements required for calendar year 2007;

(7) provide the administrator with such information as may be necessary to enable the administrator to withhold all appropriate taxes and prepare and file all tax reporting forms required by Federal, State and local law; and

(8) cooperate with the administrator and the Comptroller to ensure the effective and efficient operation of the programs. In furtherance of this purpose, the program trustee shall provide in a timely manner such information as the administrator may require to exercise and perform the administrator's powers and duties under the General Municipal Law, this Part and the program agreement. The program trustee shall also provide in a timely manner such information as the Comptroller may require to monitor the operation of the programs.

(d) If the Comptroller is not the administrator or the program trustee, the fee for providing such services shall be a charge against the sponsor and not exceed the amount or amounts which the administrator or program trustee is permitted to charge pursuant to an agreement between the administrator or program trustee and the Comptroller.

2 CRR-NY 154.11 Program document {#sec-2-crr-ny-154.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.11}

The administrator shall prepare and may amend a single State-administered defined contribution volunteer service award program document setting forth the obligations of sponsors, the rights of volunteer firefighters and participants, and standards and procedures for the administration of State-administered defined contribution volunteer firefighter service award programs. The program document and any amendments thereto shall be consistent with the provisions of article 11-A of the General Municipal Law and the provisions of this Part, as amended. If the program document is prepared by an administrative service agency or financial organization, the program document and any amendments to the program document shall not take effect until approved by the State Comptroller.

2 CRR-NY 154.12 Reports {#sec-2-crr-ny-154.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.12}

(a) On or before September 30th of each year, the administrator shall provide to each sponsor a report which shall include, but not be limited to, the following information for the preceding calendar year for the sponsor:

(1) the total value of participant account balances as of January 1st;

(2) the total amount contributed to the State-administered defined contribution volunteer firefighter service award program by the sponsor;

(3) the total amount of administrative expenses charged against participant account balances;

(4) the total amount of interest, earnings and gains credited to participant account balances;

(5) the total amount of losses charged to participant account balances;

(6) the total amount of distributions;

(7) the total value of forfeitures; and

(8) the total value of participant account balances as of December 31st.

(b) On or before September 30th of each year, the administrator shall provide to each volunteer fire company or volunteer fire department, and immediately thereafter each volunteer fire company or volunteer fire department shall provide to each participant who is a member of the volunteer fire company or volunteer fire department, a confidential statement for the preceding calendar year which shall include, but shall not be limited to, the following information for the participant:

(1) name;

(2) address;

(3) social security number;

(4) date of birth;

(5) account balance as of January 1st;

(6) amount contributed by the sponsor on behalf of the participant;

(7) administrative expenses charged against the account balance;

(8) interest, earnings and gains credited to account balance;

(9) losses charged to account balance;

(10) distributions;

(11) account balance as of December 31st;

(12) total number of years of volunteer firefighter service required to obtain a nonforfeitable right to a service award;

(13) total number of years of volunteer firefighter service credited to the participant;

(14) entitlement age; and

(15) designated beneficiaries.

(c) Within 30 days of the conversion of a locally-administered defined contribution volunteer firefighter service award program into a State-administered defined contribution volunteer firefighter service award program, the administrator shall provide to each participant a statement of the participant's account balance as of the date on which the State administration commenced.

2 CRR-NY 154.13 Disclosure {#sec-2-crr-ny-154.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.13}

(a) Not later than six months after a volunteer firefighter becomes a participant in a State- administered defined contribution volunteer firefighter service award program, the administrator shall provide to the volunteer fire company or volunteer fire department of which the participant is a member, and promptly thereafter the volunteer fire company or volunteer fire department shall provide to the participant, a summary of the State-administered defined contribution volunteer firefighter service award program's provisions as adopted by the sponsor of the State- administered defined contribution volunteer firefighter service award program.

(b) In the event that a material modification is made to a State-administered defined contribution volunteer firefighter service award program, the administrator shall provide to each volunteer fire company or volunteer fire department a copy of the modification within six months after the date on which the modification is adopted or the date on which the modification takes effect, whichever is later, and promptly thereafter each volunteer fire company or volunteer fire department shall provide a copy of the modification to each participant who is a member of the volunteer fire company or volunteer fire department.

2 CRR-NY 154.14 Standards for selecting service providers {#sec-2-crr-ny-154.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.14}

Service providers shall be selected after competitive proposals are solicited.

(a) When selecting an administrative service agency or a financial organization to serve as administrator, the following standards shall be utilized, with each standard to be weighted at the discretion of the Comptroller:

(1) the entity's experience with defined contribution programs;

(2) the capitalization of the entity;

(3) the entity's creditworthiness;

(4) the entity's ability to perform the required duties; and

(5) the cost of services to be provided by the entity.

(b) When selecting an administrative service agency or financial organization to serve as trustee or a financial organization to invest program funds the following standards shall be utilized, with each standard to be weighted at the discretion of the Comptroller:

(1) the standards set forth in subdivision (a) of this section;

(2) the entity's investment expertise;

(3) the capitalization of the entity;

(4) the entity's creditworthiness;

(5) the entity's investment sophistication and flexibility;

(6) the entity's familiarity with similar programs;

(7) the entity's ability to procure or provide suitable investments; and

(8) the entity's ability to perform the required duties in recognition of the fiduciary nature of its responsibilities.

2 CRR-NY 154.15 Acknowledgement {#sec-2-crr-ny-154.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.15}

Each administrative service agency or financial organization selected to provide services in connection with State-administered volunteer firefighter defined contribution service award programs shall contractually agree to discharge its duties as a fiduciary solely in the interest of the participants and beneficiaries of the State-administered defined contribution volunteer firefighter service award programs. The fiduciary standard of care, which shall be an express provision of any contract with an administrative service agency or financial organization, shall permit the fiduciary to accept, hold, invest in and retain only such investments as would be made with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.

2 CRR-NY 154.16 Solicitation, education and confidentiality {#sec-2-crr-ny-154.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 154.16}

(a) No financial organization or administrative service agency nor any of their agents shall use information obtained by reason of its appointment as a financial organization or administrative service agency to solicit volunteer firefighters to purchase any product made available by such financial organization or administrative service agency.

(b) Educational materials designed to acquaint volunteer firefighters with the benefits of the program may be provided by the financial organization or administrative service agency upon prior approval by the Office of the State Comptroller. In addition, at the time of distribution of a service award, an administrative service agency or financial organization may include with a distribution written information concerning the potential tax consequences of the distribution and generic categories of investment options. Such information may contain a statement indicating that additional information may be obtained from the administrative service agency or financial organization or their agents and from other financial institutions, but in all cases such information shall also contain a clear and prominent statement that the Office of the State Comptroller does not review, approve, endorse or recommend any such information, and is not in any way affiliated with, any financial instrument, product or service offered by or acquired through an administrative service agency, financial organization or their agents, or any other financial institution.

(c) Except as otherwise provided by law, all information obtained under the State-administered defined contribution volunteer firefighter service award program by the sponsor, a volunteer fire company or volunteer fire department, an administrative service agency or a financial organization shall be confidential and shall be used exclusively for purposes relating to the program.

Part 155 STATE-ADMINISTERED DEFINED BENEFIT SERVICE AWARD PROGRAMS FOR VOLUNTEER FIREFIGHTERS

2 CRR-NY 155.1 Scope {#sec-2-crr-ny-155.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.1}

Article 11-A of the General Municipal Law authorizes the establishment of defined benefit service award programs to provide municipally funded, pension-like benefits for volunteer firefighters. In general, defined benefit volunteer firefighter service award programs may be adopted by political subdivisions for the volunteer firefighters of volunteer fire companies or volunteer fire departments which are either:

(a) under the control of the governing board of the political subdivision; or

(b) located in a fire protection district of the political subdivision and under contract with the governing board to provide service therein. Adoption of a defined benefit volunteer firefighter service award program requires the affirmative vote of at least 60 percent of the governing board of the political subdivision and the approval of a proposition at a referendum of the eligible voters of the political subdivision. Article 11-A requires the defined benefit volunteer firefighter service award programs to be either:

(1) administered by the political subdivisions; or

(2) centrally administered by the State Comptroller or by service providers retained by the Comptroller. The Comptroller is required and authorized to adopt rules and regulations for the programs administered by the State. The rules and regulations must include standards for the selection of service providers, the method and timing of payments required to be made by the sponsors, reporting requirements, matters relating to the preparation of a plan document, application procedures for transfer into the State-administered program, procedures and forms for the compilation and maintenance of the points accumulated by each volunteer firefighter, and any other matter relating to State-administered defined benefit volunteer firefighter service award programs. This Part contains the regulations governing such State-administered defined benefit volunteer firefighter service award programs.

2 CRR-NY 155.2 Definitions {#sec-2-crr-ny-155.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.2}

(a) Unless otherwise defined, the terms used in this Part shall have the same meaning as provided in article 11-A of the General Municipal Law.

(b) In addition, as used in this Part:

(1) Administrator means the State Comptroller or, if the Comptroller retains an administrative service agency or financial organization to perform the functions set forth in section 155.15 of this Part, such administrative service agency or financial organization.

(2) Benefit or benefit amount means an amount equal to an annual payment of $60, $120, $180, $240 or $360 for each year of firefighting service, as selected by the sponsor.

(3) Comptroller means the New York State Comptroller.

(4) Participant means a volunteer firefighter who is eligible for a benefit under a State- administered defined benefit volunteer firefighter service award program.

(5) Prior service costs means the cost of granting prior service credit to volunteer firefighters.

(6) Prior service credit means credit for years of volunteer firefighter service for activities performed during the five calendar years immediately preceding the adoption of a defined benefit volunteer firefighter service award program. A volunteer firefighter service award program established by a local sponsor prior to June 1, 2007 may, at the option of the local sponsor, provide for prior service credit for volunteer firefighter service rendered during a period longer than the five calendar years immediately preceding the adoption of the program.

(7) Program actuary means the actuary designated by the Comptroller to perform the functions required to be performed by an actuary under article 11-A of the General Municipal Law and this Part, as amended from time to time.

(8) Sponsor means a county, city, town, town on behalf of a fire protection district, village, village on behalf of a fire service area or fire district which adopts a State-administered defined benefit volunteer firefighter service award program.

(9) State-administered defined benefit volunteer firefighter service award program means a service award program for volunteer firefighters established or maintained as a defined benefit plan for which State administration has been selected pursuant to article 11-A of the General Municipal Law.

2 CRR-NY 155.3 Actuarial cost estimates {#sec-2-crr-ny-155.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.3}

Prior to consideration of a resolution authorizing adoption of a State-administered defined benefit volunteer firefighter service award program, or the transfer of a locally-administered defined benefit volunteer firefighter program to State administration, the governing board of a political subdivision shall obtain from the program actuary an estimate of the annual cost of the State-administered defined benefit volunteer firefighter service award program. In making such estimate, the program actuary shall calculate each separate component of the total estimated cost of a proposed State-administered defined benefit volunteer firefighter service award program. In the case of a transfer of a locally-administered defined benefit volunteer firefighter service award program to State administration, the program actuary shall also estimate the additional amount, if any, determined by the administrator to be necessary to fully fund all existing obligations of such program, up to and including contributions for credit for a year of firefighting service performed during the calendar year immediately preceding the year in which State administration is anticipated to commence and unfunded prior service costs. To enable the program actuary to make such estimates, the sponsor and each volunteer fire company or volunteer fire department having members who are potential participants in the State-administered defined benefit volunteer firefighter service award program shall provide to the program actuary such information as the program actuary may require, and the program actuary may rely upon such information in making such estimates. The program actuary shall make such estimates using the actuarial methodology and assumptions that would be used to calculate the contributions payable by the sponsor pursuant to section 155.9 of this Part. Before beginning to make such estimates, the program actuary shall disclose to the governing board in writing the fee for preparing such estimates. The fee for preparing the estimates shall not exceed the amount which the program actuary is permitted to charge for such service pursuant to an agreement between the program actuary and the Comptroller. The cost of such estimates shall be a charge against the sponsor.

2 CRR-NY 155.4 Notice of adoption or transfer {#sec-2-crr-ny-155.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.4}

For any defined benefit volunteer firefighter service award program which, on or after June 1, 2007, is to be State-administered pursuant to voter approval of either:

(a) the adoption of such a program; or

(b) the transfer of administration of such a program to the State of New York, the chief executive officer of the sponsor shall, within 30 days after the approval of a proposition authorizing the adoption or transfer, submit to the Comptroller by e-mail or other method prescribed by the Office of the State Comptroller, a verified notice of adoption or transfer which shall contain the following:

(1) a statement of the date on which the governing board of the sponsor approved the resolution authorizing adoption of the State-administered defined benefit volunteer firefighter service award program or transfer of a locally-administered defined benefit volunteer firefighter program to State administration and the vote thereon, and a certified copy of the resolution;

(2) a statement of the date on which the electors of the sponsor approved the proposition authorizing adoption of the State-administered defined benefit volunteer firefighter service award program or transfer or a locally-administered defined benefit volunteer firefighter service award program to State administration and the vote thereon, and a certified copy of the proposition;

(3) an opinion of legal counsel which shall:

(i) be addressed to the sponsor;

(ii) expressly provide that the administrator and program actuary may rely thereon;

(iii) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to: the provisions of article 11-A of the General Municipal Law and such other statutes as may be relevant; the resolution of the governing board of the sponsor authorizing the adoption of the State-administered defined benefit volunteer firefighter service award program or transfer of a locally-administered defined benefit volunteer firefighter service award program to State administration; proof of any posting and publication of required notice; the certificate certifying the result of the vote on the proposition authorizing the adoption of the State- administered defined benefit volunteer firefighter service award program or transfer of a locally-administered defined benefit volunteer firefighter service award program to State administration; and proof that the cost estimates prepared pursuant to section 155.3 of this Part were disclosed in the proposition; and

(iv) express his or her opinion that the sponsor has undertaken all actions and proceedings required by law to adopt the State-administered defined benefit volunteer firefighter service award program or to transfer a locally-administered defined benefit volunteer firefighter service award program to State administration;

(4) a statement of the name, address and telephone number of the chief executive officer of the sponsor; and

(5) a statement of the name, address and telephone number of each volunteer fire company or volunteer fire department having volunteer firefighters who are potential participants in the State-administered defined benefit volunteer firefighter service award program.

2 CRR-NY 155.5 Adoption or transfer agreement {#sec-2-crr-ny-155.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.5}

(a)

(1) State administration of a newly adopted defined benefit volunteer firefighter service award program shall not be effective until the sponsor and the administrator deliver to each other duly executed originals of an adoption or transfer agreement setting forth the obligations of the sponsor and the locally-determined features of the defined benefit volunteer firefighter service award program.

(2) No transfer to the State of responsibility for administration of a defined benefit volunteer firefighter service award program shall be effective until:

(i) the sponsor and the administrator deliver to each other duly executed originals of an adoption or transfer agreement setting forth the obligations of the sponsor and the locally determined features of the defined benefit volunteer firefighter service award program, and

(ii) the sponsor pays in full to the administrator the cash value of all program assets plus any additional amount determined by the program actuary to be necessary to fully finance all existing obligations of such program, up to and including contributions for credit for a year of firefighting service performed during the calendar year immediately preceding the year in which State administration commences and any unpaid prior service costs payable in a lump sum pursuant to section 155.8(c) of this Part. Such payment shall be made in cash or cash equivalents acceptable to the administrator, and the administrator shall not be obligated to accept an insurance contract, a security, or any other asset that is not cash or a cash equivalent. Such payment shall be made at the time that the adoption or transfer agreement is submitted to the administrator pursuant to subdivision (c) of this section.

(3) An adoption or transfer agreement shall include, but shall not be limited to, the following provisions:

(i) an original or copy of the notice of adoption or transfer submitted by the sponsor pursuant to section 155.4 of this Part, together with a warranty by the sponsor of the accuracy and completeness of the information set forth in such notice and an express agreement by the sponsor to submit promptly to the administrator and program actuary such additional information as may be necessary to make the records of the defined benefit volunteer firefighter service award program accurate and complete;

(ii) an express agreement by the sponsor to pay to the administrator on time and in full all required contributions, fees, charges, or assessments determined by the administrator;

(iii) in the case of a defined benefit volunteer firefighter service award program being transferred from local administration to State administration, a statement of the payments required by subdivision (a) of this section to be made by the sponsor to the administrator as a condition precedent to the commencement of State administration, together with an express agreement by the sponsor to make such payments at the time that the adoption or transfer agreement is submitted to the administrator pursuant to subdivision (c) of this section, and to turn over to the administrator in a timely manner such records as the administrator deems necessary to effectuate such transfer;

(iv) an express agreement by the sponsor:

(a) that the Comptroller shall have the authority to suspend or terminate the operation of any State-administered volunteer firefighter service award program at any time the Comptroller determines that the sponsor has failed, for more than 30 days beyond the due date, to make any required payment or to satisfy any other material obligation of the adoption or transfer agreement;

(b) that the Comptroller may elect, at his or her sole option, to collect any required payment or other material obligation owed by the sponsor by delivering to the sponsor a duly executed order specifying the overdue amount and requiring the sponsor to pay such amount from any funds available therefor;

(c) that the Comptroller may elect, at his or her sole option, to collect any required payment or other material obligation owed by the sponsor by intercepting the requisite amount from any State aid payment or other amount otherwise due to the sponsor from the State and applying the same to satisfy the overdue obligation; and

(d) that, notwithstanding such suspension or termination, the sponsor shall continue to be obligated to make all required payments and to satisfy all other material obligations of the adoption or transfer agreement;

(v) a statement that the sponsor agrees to abide by the provisions of article 11-A of the General Municipal Law, the rules and regulations promulgated thereunder and the program document, as amended from time to time. The adoption or transfer agreement shall be completed by incorporating the following locally-determined features of the State-administered defined benefit volunteer firefighter service award program:

(a) entitlement age;

(b) the number of years of volunteer firefighter service required for a participant to obtain a nonforfeitable right to a service award;

(c) the benefit under the State-administered defined benefit volunteer firefighter service award program;

(d) whether the sponsor shall make prior service contributions and, if so, the number of years for which such contributions shall be made and, if such prior service contributions have not been fully paid prior to commencement of State administration, an irrevocable election to pay prior service contributions in the form of a single lump sum payment or in annual installments as provided in section 155.8 of this Part;

(e) the amount of any optional additional line of duty disability or death benefit;

(f) the date as of which the newly adopted State-administered defined benefit volunteer firefighter service award program shall take effect;

(g) if the State-administered defined benefit volunteer firefighter service award program is to take effect on a day other than the first day of January, a statement setting forth whether points toward a year of firefighting service shall be granted for activities performed between the immediately preceding first day of January and the effective date of the State-administered defined benefit volunteer firefighter service award program; and

(vi) such other provisions as the Comptroller may deem necessary and advisable to assure the proper financing and management of the State-administered defined benefit volunteer firefighter service award program.

(b) Within 30 days of receipt of the notice of adoption or transfer required by section 155.4 of this Part, the administrator shall send to the chief executive officer of the sponsor a copy of the program document and an adoption or transfer agreement for the State-administered defined benefit volunteer firefighter service award program.

(c) Within 30 days of receipt of the adoption or transfer agreement, the chief executive officer of the sponsor shall complete and execute two originals of the adoption or transfer agreement, retain one executed original of the adoption or transfer agreement and the program document and trust agreement as public records, and file one executed original of the adoption or transfer agreement with the administrator. The chief executive officer shall also cause a copy of the adoption or transfer agreement and the program document and trust agreement to be provided to each volunteer fire company or volunteer fire department for which the State-administered defined benefit volunteer firefighter service award program is adopted or for which the responsibility for administration is transferred to the Comptroller or service providers retained by the Comptroller.

(d) Upon receipt of the executed original of an adoption or transfer agreement, the administrator shall forward a copy of the adoption or transfer agreement to the program actuary.

(e) The administrator and the program actuary shall rely on the information set forth in the adoption or transfer agreement until such time as the administrator and program actuary receive a copy of an amended adoption or transfer agreement or notice of termination as provided in Section 155.14 of this Part.

2 CRR-NY 155.6 Collection of personal information {#sec-2-crr-ny-155.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.6}

(a) Except as provided in subdivision (b) of this section, annually, and at such other times and in such form as the Administrator may require, the chief executive officer of the sponsor shall obtain from each volunteer fire company or volunteer fire department for which the State- administered defined benefit volunteer firefighter service award program is established for submission to the administrator, and each volunteer fire company or volunteer fire department shall provide to the chief executive officer for such purpose, the following information for each volunteer firefighter of the volunteer fire company or volunteer fire department, whether or not such volunteer firefighter is a participant in the State-administered defined benefit volunteer firefighter service award program:

(1) name;

(2) address;

(3) social security number;

(4) date of birth;

(5) name of the volunteer fire company or volunteer fire department in which he or she is a volunteer firefighter;

(6) beneficiaries; and

(7) such other information as the administrator deems necessary for the administration of the State-administered defined benefit volunteer firefighter service award program.

(b) In lieu of requiring the chief executive officer of the sponsor to obtain the information specified in subdivision (a) of this section for submission to the administrator, the administrator may request the chief executive officer of a volunteer fire company or volunteer fire department to obtain and submit such information to the Administrator. In such case, the chief executive officer of the volunteer fire company or volunteer fire department shall provide a copy of the information submitted to the administrator to the chief executive officer of the sponsor.

(c) The chief executive officer of the sponsor shall retain a copy of the information obtained pursuant to this section for use solely in connection with the administration of the State- administered defined benefit volunteer firefighter service award program.

(d) To the extent required by the Personal Privacy Protection Law, article 6-A of the Public Officers Law, all personal information obtained pursuant to this section shall be protected from public disclosure.

2 CRR-NY 155.7 Service credit {#sec-2-crr-ny-155.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.7}

(a) Each volunteer fire company or volunteer fire department for which a State-administered defined benefit volunteer firefighter service award program is adopted shall maintain at all times for each volunteer firefighter of the volunteer fire company or volunteer fire department, whether or not a participant in the State-administered defined benefit volunteer firefighter service award program, a record of the activities performed and points granted toward a year of firefighting service.

(b) On or before March 31st of each year, each volunteer fire company or volunteer fire department for which a State-administered defined benefit volunteer firefighter service award program is adopted shall prepare and submit to the governing board of the sponsor a list of all the volunteer firefighters of the volunteer fire company or volunteer fire department which identifies all those who have qualified for credit for a year of firefighting service during the preceding calendar year. Such list shall be certified under oath by the president, secretary and chief or comparable officers of the volunteer fire company or volunteer fire department and shall be accompanied by such membership records or records of point accumulations as the governing board may require to substantiate the accuracy of the list. Such list shall also identify those volunteer firefighters who have waived participation in the State-administered defined benefit volunteer firefighter service award program as provided in subdivision (g) of this section.

(c) On or before May 1st of each year, the governing board of the sponsor shall review each such certified list and may delete the name of any person who was not a volunteer firefighter during the preceding calendar year or disallow the service credit of any volunteer firefighter who did not earn or otherwise receive 50 points during the preceding calendar year or whose point accumulation has not been adequately documented. Thereafter, the governing board shall approve each such certified list of volunteer firefighters and each volunteer firefighter named thereon shall be credited with a year of firefighting service. Upon approval, the governing board shall cause a copy of each list to be returned to the appropriate volunteer fire company or volunteer fire department and each volunteer fire company or volunteer fire department shall, immediately upon receipt, post the list in a conspicuous place at its principal headquarters for at least 30 days and maintain a record of the date on which the list is posted; provided, however, that no personal identifying information shall be included in the list that is posted except the names of the firefighters credited with a year of firefighting service.

(d) Not later than 30 days after the approved list is posted by the volunteer fire company or volunteer fire department, any volunteer firefighter whose name does not appear on the list may appeal to the governing board of the sponsor to have his or her name added to the list as having qualified for credit for a year of firefighting service during the preceding calendar year. The appeal shall be in writing and mailed to the clerk or secretary of the governing board of the sponsor. The governing board shall investigate all appeals and upon finding that such a volunteer firefighter has qualified for a year of firefighting service credit for the preceding calendar year, shall order the volunteer firefighter's name to be added to the approved list.

(e) On or before July 1st of each year, the governing board of the sponsor shall cause a certified copy of the approved list to be filed with the administrator.

(f) The administrator shall retain such list and shall promptly forward a copy of such list to the program actuary.

(g) Any volunteer firefighter not wishing to participate in the State-administered defined benefit volunteer firefighter service award program may waive participation by filing with the chief executive officer of the volunteer fire company or volunteer fire department, the chief executive officer of the political subdivision and the administrator a written notice of waiver of participation. Such waiver shall remain effective until withdrawn in the same manner. During the period such a waiver remains effective, a volunteer firefighter shall not earn service credit, nor be entitled to a distribution from the State-administered defined benefit volunteer firefighter service award program.

(h) Notwithstanding the provisions of subdivisions (b) through (e) of this section, if, as of the effective date of the conversion of a locally administered defined contribution volunteer firefighter service award program into a State-administered defined contribution volunteer firefighter service award program, the governing board of a sponsor has approved a certified list of volunteer firefighters qualified for credit for a year of firefighting service rendered during the preceding calendar year in substantial compliance with the procedures set forth in subdivisions (b) through (d) of this section, excepting the dates set forth therein, the governing board shall comply with the filing requirement of subdivision (e) of this section no later than 30 days after the chief executive officer of the sponsor files a completed and executed copy of the adoption or transfer agreement with the administrator pursuant to section 155.5 of this Part.

2 CRR-NY 155.8 Prior service credit and costs {#sec-2-crr-ny-155.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.8}

(a) In the event that a State-administered defined benefit volunteer firefighter service award program provides prior service credit, each volunteer fire company or volunteer fire department for which the State-administered defined benefit volunteer firefighter service award program is adopted shall identify on the certified list created pursuant to section 155.7 of this Part those participants who, by virtue of earning such credit, became entitled to one or more years of prior service credit and the number of years of prior service credit to which each such participant is entitled. Any participant who is denied prior service credit for one or more years may appeal to the governing board at the same time, in the same manner, and with like effect as provided in section 155.7 of this Part. Except as provided in subdivision (b) or (c) of this section, prior service costs attributable to such prior service credit shall be paid to the administrator in a single lump sum in the year in which a participant is determined to be entitled to such credit. Such prior service cost shall be calculated by the program actuary.

(b) In the case of a State-administered defined benefit volunteer firefighter service award program that is initially established as a State-administered defined benefit volunteer firefighter service award program, the governing board of the sponsor may elect to pay prior service costs over the five-year period beginning with the calendar year in which the program first takes effect; provided, however, that if a volunteer firefighter first qualifies for a year of firefighting service for a calendar year later than the first calendar year in which the program first takes effect, and thereby becomes a participant entitled to prior service credit, then any prior service cost attributable to such prior service credit shall be paid over the five-year period beginning with the calendar year for which the volunteer firefighter first qualified for a year of firefighting service.

(c) In the case of a State-administered defined benefit volunteer firefighter service award program that was initially established as a locally-administered defined benefit volunteer firefighter service award program, the program actuary shall compute the amount of any unpaid prior service costs at the commencement of State administration. The amount of such unpaid prior service costs shall be paid to the administrator in a single lump sum as a condition precedent to the commencement of State administration, or the governing board of the sponsor may elect to pay such prior service costs in annual installments over the five-year period beginning with the calendar year in which State administration commences.

(d) The prior service costs of a State-administered defined benefit volunteer firefighter service award program for the volunteer firefighters of a special fire company or department shall be apportioned and paid by the political subdivisions jointly sponsoring the program in accordance with the agreement among such political subdivisions; provided, however that unless any such agreement provides otherwise, the portion of the prior service costs of a State-administered defined benefit volunteer firefighter service award program allocated to a political subdivision in accordance with such agreement shall be paid in full by a political subdivision even if the political subdivision ceases to contract with the volunteer fire company or volunteer fire department after a State-administered defined benefit volunteer firefighter service award program is adopted.

(e) Notwithstanding the provisions of subdivision (a) of this section, if, as of the effective date of the conversion of the locally-administered defined benefit volunteer firefighter service award program into a State- administered defined benefit volunteer firefighter service award program, the governing board of a sponsor has not approved a certified list of volunteer firefighters qualified for credit for a year of firefighting service rendered during the preceding calendar year which identifies those participants who, by virtue of qualifying for such credit, are entitled to one or more years of prior service credit in substantial compliance with the procedures referred to in subdivision (a) of this section, the list prepared pursuant to section 155.7 of this Part shall identify such participants and the number of years for which each participant is entitled to prior service credit. A participant who is denied prior service credit for one or more years may appeal to the governing board of the sponsor at the same time, in the same manner, and with like effect as provided in section 155.7 of this Part.

2 CRR-NY 155.9 Sponsor contributions {#sec-2-crr-ny-155.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.9}

(a) Commencing on November 15th of the year in which State administration begins, and each November 15th thereafter, the program actuary shall estimate the amount that each sponsor is required to contribute to a State-administered defined benefit volunteer firefighter service award program for the current calendar year, including the actuarially determined normal cost of the program, any prior service contributions required to be paid in such year pursuant to section 155.8 of this Part, and any additional amounts determined by the program actuary to be necessary to fully finance all existing obligations of such program. The administrator shall submit to the fiscal officer of each sponsor a statement of the amount so payable plus any administrative costs payable by the sponsor. For good cause shown, the program actuary may recalculate the contribution, and, in such case, the administrator shall issue a corrected statement. If, as a result of the amount determined to be paid for any calendar year, a sponsor overpaid its actual obligation for that year, the amount to be determined by the program actuary for the next succeeding November 15th shall reflect the amount of the overpayment, plus interest, as a reduction in the amount otherwise required to be paid by such sponsor.

(b) Within 60 days after the date of a statement issued pursuant to subdivision (a) of this section, the sponsor shall pay to the administrator the total amount due as shown on such statement.

(c) The actuarial methodology and assumptions used by the program actuary to calculate such contributions shall be the same for all State-administered defined benefit volunteer firefighter service award programs.

(d) Interest shall accrue and be paid by the sponsor on all amounts due, but not received by the administrator within 60 days after the date of the statement issued pursuant to subdivision (a) of this section. The interest rate or rates used to calculate such interest shall be the greater of:

(1) the investment return rate (or rates) assumed by the program actuary in the calculation of the normal cost component of such unpaid contribution; or

(2) the actual investment return rate earned by the volunteer firefighters' defined benefit service award program trust fund during the calendar year (or years) in which such unpaid contributions were due to be paid.

(e) The administrator shall notify the Comptroller of any amounts remaining unpaid more than 90 days after the date of the statement issued pursuant to subdivision (a) of this section.

(f) In the event that a sponsor does not submit to the administrator an approved list in accordance with section 155.7 of this Part, the administrator shall bill the sponsor for the contribution due for the calendar year in which the list should have been submitted in an amount calculated by the program actuary equal to the estimated contribution due during such year. Such estimated contribution shall be calculated by the program actuary as if all volunteer firefighters named on the latest year's approved list received by the administrator continued to be volunteer firefighters and all such persons earned a year of service credit during the calendar year for which the list should have been prepared in accordance with section 155.7 of this Part. Payment of such contribution shall be made in accordance with subdivisions (b) and (d) of this section as if the program actuary's cost calculations were based upon the actual certified listings prepared in accordance with section 155.7 of this Part. Upon receipt by the administrator of the actual approved certified list prepared in accordance with section 155.7 of this Part, the program actuary shall estimate the contributions due for such calendar year. In the event that additional contributions are owed by the sponsor (including any additional administration costs), the administrator shall bill the sponsor for such additional amounts. Interest shall be paid by the sponsor on all additional amounts owed and shall accrue from the due date of the payment of the estimated contribution billed to the sponsor by the administrator with such interest calculated in accordance with subdivision (d) of this section. Any excess of the estimated contributions over the actual contributions shall be treated as an overpayment by the sponsor in the manner provided in subdivision (a) of this section. The amount of such overpayment shall be reduced by any related additional administration costs charged by the administrator or the program actuary. The assessment of any extra additional administration charges payable by the sponsor to either the administrator or the program actuary because of the failure to comply with section 155.7 of this Part shall be in accordance with the contract(s) between the Comptroller and the administrator/program actuary.

(g) Forfeitures shall be treated by the program actuary as an actuarial gain in the program cost calculations in the same manner as any other forfeiture of a service award. The funds accumulated to pay the participant or the participant's beneficiary shall remain within the defined benefit service award program trust fund as if such funds were the accumulated funds associated with the forfeiture of a non-vested service award. Should the person to whom service award payments are owed subsequently file an application for payment with the administrator, the administrator shall determine and pay the amount of the service award owed to the person and the actuarial liability for such payments shall be included in subsequent actuarial calculations of the sponsor's funding costs of the State-administered defined benefit volunteer firefighter service award program by the program actuary.

2 CRR-NY 155.10 Forfeitures {#sec-2-crr-ny-155.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.10}

(a) In the event that two years have elapsed since an inactive volunteer firefighter participant or a participant's designated beneficiary becomes eligible to apply for a service award and the administrator does not receive an application for distribution, the administrator, the sponsor and the volunteer fire company or volunteer fire department in which the participant was a member shall attempt to notify the person or persons to whom the service award would be paid. In the event that the administrator, in his or her sole discretion, determines that a reasonable attempt has been made to contact such person or persons without success, the service award payable shall then be considered as forfeited for the purpose of determining future contributions payable by the sponsor.

(b) A participant who ceases to be a volunteer firefighter before he or she has earned a nonforfeitable right to a service award shall forfeit his or her service credit upon receipt by the administrator of notice from the sponsor and the appropriate volunteer fire department or volunteer fire company that the individual has ceased to be a volunteer firefighter. The provisions of this subdivision shall not apply to a volunteer firefighter who is determined to be totally and permanently disabled in accordance with section 155.11(g) of this Part.

(c) In the event that a person whose service credit was forfeited in accordance with subdivision (b) of this section resumes being a volunteer firefighter within the five-year period beginning immediately after the calendar year in which he or she ceased to be a volunteer firefighter, such person's forfeited service credit shall be restored as of December 31st of the first calendar year for which he or she again qualifies for a year of firefighting service credit and again becomes a participant in the State-administered defined benefit volunteer firefighter service award program in which he or she formerly was a participant.

2 CRR-NY 155.11 Distribution {#sec-2-crr-ny-155.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.11}

(a) Unless a participant elects to be paid his or her service award in an optional actuarially equivalent form on the written application for distribution he or she files with the administrator, the service award shall be paid to the participant in the form of a monthly payment straight life annuity. The amount of the monthly straight life annuity payment shall be 1/12 of the benefit amount times the years of firefighting service credited to the participant as of the effective date of the commencement of payment of his or her service award.

(b) Except as otherwise provided in this section, a participant shall be entitled to apply for and receive distribution of a service award only when the participant has attained the entitlement age. A written application for distribution must be received by the administrator from a participant before payments shall commence to the participant. The participant shall, on such written application, specify the date as of which payment shall commence and shall select the form of payment of his or her service award. The date as of which payment shall commence may be the first day of any month commencing within the 90-day period immediately following the date the written application is received by the administrator. A participant may file an application for distribution of his or her service award within the 90-day period immediately preceding the date on which he or she will attain the entitlement age and specify the date as of which payment shall commence, which date shall be:

(1) no earlier than the date of attainment of the entitlement age and acquiring a nonforfeitable right to a service award; and

(2) no later than 90 days after the date of attainment of the entitlement age and acquiring a nonforfeitable right to a service award.

(c) The date as of which payment of a service award shall commence shall not be on or before the last day of the first calendar year for which a participant qualified for a year of firefighting service credit.

(d) The administrator shall approve an application for distribution based on the terms of the sponsor's adoption or transfer agreement, the records maintained by the administrator and, in the case of disability or death, such additional records or information as the administrator may require. The administrator, in its sole discretion, may require the sponsor, the appropriate volunteer fire company or volunteer fire department or the participant to verify or supply any information the administrator deems necessary to determine entitlement to distribution of a service award.

(e) The number and types of optional forms of payments of a service award available under a State-administered defined benefit volunteer firefighter service award program shall be at the sole discretion of the administrator subject to the approval of the Comptroller. Program sponsors and volunteer fire companies or volunteer fire departments whose volunteer firefighters participate in a State-administered defined benefit volunteer firefighter service award program shall be promptly notified by the administrator in writing of any changes in the optional forms of payment. Participants shall then be promptly notified about such changes by the volunteer fire company or volunteer fire department.

(f) For determining the payments of a service award to a participant under an actuarially equivalent form of payment, the program actuary shall use the actuarial assumptions used to calculate the annual program costs payable by the sponsor during the calendar year in which the payments of the service award to the participant or the participant's beneficiary shall commence.

(g)

(1) In the event that a participant becomes totally and permanently disabled as certified by the workers' compensation board or by any other competent authority approved by the administrator, and the disability prevents the participant from pursuing his or her normal occupation, the participant shall be entitled to apply for and receive distribution of his or her service award regardless of whether the participant has reached the entitlement age or acquired a nonforfeitable right to a service award. The participant may select one of the optional forms of payment available under the State-administered defined benefit volunteer firefighter service award program in case of disability. The value of the service award shall be determined on the basis of the years of volunteer firefighter service credited to the participant as of the effective date of commencement of payment of the service award. The amount of payments shall be calculated so as to be actuarially equivalent to the present value of the payments as if they commenced at the entitlement age.

(2) If a State-administered defined benefit volunteer firefighter service award program includes an optional additional disability benefit that the sponsor has elected to provide for a participant who becomes disabled during the course of service as an active volunteer firefighter while actively engaged in providing a line of duty service, then, in the event that a participant becomes totally and permanently disabled as a result of such cause and such total and permanent disability is certified by the workers' compensation board or by any other competent authority approved by the administrator, the participant shall be entitled to apply for and receive distribution of a service award equal to the amount of additional benefits that the participant would have been entitled to had he or she continued to earn years of firefighting service through his or her entitlement age if the rate of benefits being provided under the State- administered defined benefit service award program at the time of disability continued to be provided through the entitlement age.

(h)

(1) In the event of the death of a participant who has acquired a nonforfeitable right to a service award and who has not previously received distribution of any portion of his or her service award, the beneficiary or beneficiaries designated by the participant or, if no beneficiary has been designated, the participant's estate, shall be entitled to apply for and receive distribution of the participant's service award. The applicant may select one of the optional forms of payment available under the State-administered defined benefit volunteer firefighter service award program in case of death. The value of the service award shall be determined on the basis of the years of volunteer firefighter service credited to the participant as of the effective date of commencement of payment of the service award. The amount of the payments shall be calculated so as to be actuarially equivalent to the present value of the payments as if they commenced at the entitlement age.

(2) If a State-administered defined benefit volunteer firefighter service award program includes an optional additional death benefit that the sponsor has elected to provide for a participant who dies during the course of service as an active volunteer firefighter while actively engaged in providing a line of duty service, then, in the event that a participant dies as a result of such cause, the beneficiary or beneficiaries designated by the participant shall be entitled to apply for and receive distribution of a service award in an amount equal to the amount of such optional additional death benefit.

2 CRR-NY 155.12 Program amendment {#sec-2-crr-ny-155.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.12}

(a) Once a State-administered defined benefit volunteer firefighter service award program has been adopted, the sponsor may amend the program in the manner provided by section 216 or 216-a of the General Municipal Law. All amendments to a State-administered defined benefit volunteer firefighter service award program shall take effect on January 1st next succeeding the completion of the process of adopting the amendment provided by section 216 or 216-a.

(b) The resolution authorizing the adoption of an amendment to a State-administered defined benefit volunteer firefighter service award program shall include:

(1) the name of each volunteer fire company or volunteer fire department having volunteer firefighters who are participants in the State-administered defined benefit volunteer firefighter service award program;

(2) a description of the amendment;

(3) except in the case of a change to the activities for which points shall be granted toward a year of firefighting service credit, a statement of the effect, if any, as determined by the program actuary, that the amendment would have on the annual cost of the State-administered defined benefit volunteer firefighter service award program including a statement of the current and estimated future annual cost of the State-administered defined benefit volunteer firefighter service award program.

(4) except in a case of a change to the activities for which points shall be granted toward a year of firefighting service, the date on which the proposition authorizing the adoption of the amendment shall be submitted to referendum.

(c) The proposition authorizing adoption of an amendment to a State-administered defined benefit volunteer firefighter service award program shall identify the State-administered defined benefit volunteer firefighter service award program and shall include:

(1) a brief description of the amendment;

(2) an estimate of the effect, if any, as determined by the program actuary, that the amendment would have on the annual cost of the State-administered defined benefit volunteer firefighter service award program, including the current and estimated future annual cost of the State-administered defined benefit volunteer firefighter service award program; and

(3) in the case of a service award program for a special fire company or department, the portion of any change in the estimated annual cost of the State-administered defined benefit volunteer firefighter service award program to be borne by one or more other political subdivisions.

(d) In computing the amount of a service award, an amendment changing the State-administered defined benefit volunteer firefighter service award program benefit amount shall be applied only to the service awards payable to participants who earn at least one year of firefighting service credit for activities performed on and after the effective date of such amendment.

2 CRR-NY 155.13 Program termination {#sec-2-crr-ny-155.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.13}

(a) A State-administered defined benefit volunteer firefighter service award program may be terminated by the sponsor in the manner provided by section 216 or 216-a of the General Municipal Law. The termination of a State-administered defined benefit volunteer firefighter service award program shall take effect on the December 31st next succeeding approval by voters of the proposition to terminate the State-administered defined benefit volunteer firefighter service award program.

(b) The resolution authorizing the termination of a State-administered defined benefit volunteer firefighter service award program shall:

(1) list the name of each volunteer fire company or volunteer fire department having volunteer firefighters who are participants or in the State-administered defined benefit volunteer firefighter service award program to be terminated;

(2) state the estimated one-time cost of terminating the State-administered defined benefit volunteer firefighter service award program, as determined by the program actuary; and

(3) indicate the date on which the proposition authorizing the termination shall be submitted to referendum.

(c) The proposition authorizing the termination of a State-administered defined benefit volunteer firefighter service award program shall identify the State-administered defined benefit volunteer firefighter service award program and include:

(1) a statement that the State-administered defined benefit volunteer firefighter service award program shall be terminated; and

(2) an estimate of the one-time cost of terminating the State-administered defined benefit volunteer firefighter service award program as determined by the program actuary.

(d) Upon the termination of a State-administered defined benefit volunteer firefighter service award program, all participants who have earned nonforfeitable rights to a service award or beneficiaries of such participants, including those then receiving payment of their service awards, shall be paid a single-sum equal to the actuarial present value of the unpaid balance of their earned service awards as of the date of program termination. Payment shall be made within one year of the effective date of termination.

(e) The program actuary shall determine the actuarial present value single-sum distributions to participants and beneficiaries using the same actuarial assumptions he or she used to calculate the annual program funding cost payable during the calendar year in which voters approved the proposition to terminate the State-administered defined benefit volunteer firefighter service award program.

(f) The one-time cost to terminate the program shall be calculated by the program actuary. Such costs shall include the difference between the total cost of the single-sum distributions to participants and beneficiaries calculated by the program actuary, and the program assets. Such costs shall also include administrative costs. When the Comptroller is not the administrator, the administrative costs shall be determined in accordance with the service agreement or agreements between the Comptroller and the administrator or the program actuary or both. The total one-time cost to terminate the program shall be paid by the sponsor to the administrator within 180 days after the effective date of termination of the State-administered defined benefit volunteer firefighter service award program.

(g) In the event that the State-administered defined benefit volunteer firefighter service award program assets exceed the total single-sum distributions to participants and beneficiaries, all or a portion of the administrative costs of terminating the program may be paid, at the discretion of the sponsor, from the program assets.

(h) After payment of the one-time cost to terminate the program, the program trustee, upon notification by the administrator, shall transfer the remaining program assets to the sponsor.

(i) A participant or beneficiary may waive payment of any service award payable to him or her from a terminated program by filing a written waiver of payment with the administrator.

2 CRR-NY 155.14 Notice of amendment or termination {#sec-2-crr-ny-155.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.14}

(a) Within 30 days after the amendment of any of the terms of a State-administered defined benefit volunteer firefighter service award program as set forth in the adoption or transfer agreement, or the termination of the sponsor's participation in a State-administered defined benefit volunteer firefighter service award program, the chief executive officer of the sponsor shall file with the Comptroller in Albany, New York, two copies of a verified notice of amendment or notice of termination which shall contain the following:

(1) a statement of the date on which the governing board of the sponsor approved the resolution authorizing the amendment or termination of the State-administered defined benefit volunteer firefighter service award program and the vote thereon, and a certified copy of the resolution;

(2) in the case of termination, or if the amendment requires submission of a proposition to the electors of the sponsor, a statement of the date on which the electors approved the proposition authorizing the amendment or termination and the vote thereon, and a certified copy of the proposition; and

(3) an opinion of legal counsel which shall:

(i) be addressed to the sponsor;

(ii) expressly provide that the administrator may rely thereon;

(iii) state that in his or her capacity as legal counsel to the sponsor, he or she has examined originals or true and complete copies of those records, documents and other instruments necessary to render his or her opinion, including, but not limited to: the provisions of article 11-A of the General Municipal Law and such other statutes as may be relevant; the resolution of the governing board of the sponsor authorizing the amendment or termination of the program; proof that the program actuary calculated the estimated annual cost of the amended program including administration costs or the additional costs, if any, of terminating a program; proof of any posting and publication of required notice and the certificate certifying the result of the vote on the proposition authorizing the amendment or termination of the program; and

(iv) express his or her opinion that the sponsor has undertaken all actions and proceedings required by law to amend or terminate the program.

(b) Upon receipt of a notice of amendment or a notice of termination, the Office of the State Comptroller shall forward one copy thereof to the administrator and one copy to the program actuary. Within 30 days after the receipt of a notice of amendment or a notice of termination, the administrator shall send to the chief executive officer of the sponsor two copies of an amended adoption or transfer agreement. The sponsor's legal counsel shall review such adoption or transfer agreement for consistency with the resolution of the sponsor's governing body authorizing the amendment and, if applicable, the proposition submitted to electors authorizing the amendment. The chief executive officer shall then execute, retain, file, and provide a copy of the amended adoption or transfer agreement to each volunteer fire company or volunteer fire department, in the same manner as the original adoption or transfer agreement.

2 CRR-NY 155.15 Administration {#sec-2-crr-ny-155.15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.15}

(a) State-administered defined benefit volunteer firefighter service award programs shall be administered by the State Comptroller unless the Comptroller retains or designates an administrative service agency, financial organization, and/or an actuary to administer the State-administered defined benefit volunteer firefighter service award programs.

(b) In the event that there is a change in the identity of the administrator, the Office of the State Comptroller shall notify the chief executive officer of each sponsor of a State-administered defined benefit volunteer firefighter service award program of the change.

(c) The administrator shall:

(1) prepare standard forms of a program agreement and adoption or transfer agreement which shall be utilized by all program sponsors;

(2) prepare and distribute all forms and documents necessary for the administration of the program;

(3) compile and maintain all records required for the administration of the program, including records of participant accrued benefit amounts;

(4) prepare and distribute to participants, volunteer fire companies or volunteer fire departments and sponsors, the reports and program summaries as required by this Part;

(5) if the Comptroller is not the administrator, prepare and furnish to the Comptroller such reports as the Comptroller may require;

(6) record and process contributions made by program sponsors;

(7) cooperate with the program actuary and program trustee to ensure the effective and efficient operation of the State-administered defined benefit volunteer firefighter service award programs, including the provision in a timely manner of such information as the program actuary and program trustee may require to exercise and perform their powers and duties;

(8) approve applications for distributions of service awards;

(9) record and process distributions of service awards;

(10) withhold all taxes and prepare all tax reporting forms required by Federal, State and local law; and

(11) perform such other functions as may be required by or pursuant to article 11-A of the General Municipal Law and this Part.

(d) If the Comptroller is not the administrator, the fee for providing such services and any other services provided by the administrator shall be a charge against the sponsor and not exceed the amount or amounts which the administrator is permitted to charge pursuant to an agreement between the administrator and the Comptroller.

2 CRR-NY 155.16 Program actuary {#sec-2-crr-ny-155.16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.16}

(a) The Comptroller may designate a member of his or her staff or contract with an actuary to serve as the program actuary.

(b) The program actuary shall calculate:

(1) the estimated annual cost and the components thereof of all proposed State-administered defined benefit volunteer firefighter service award programs and amendments to existing State-administered defined benefit volunteer firefighter service award programs;

(2) the estimated costs to terminate a State-administered defined benefit volunteer firefighter service award program;

(3) for each calendar year during which a State-administered defined benefit volunteer firefighter service award program is in effect, the actual cost of the State-administered defined benefit volunteer firefighter service award program, including all components of such actual cost;

(4) the amount of all actual distributions of service awards, including all amounts payable under actuarially equivalent forms of payment of service awards;

(5) any other amounts, costs or actuarial present values related to a State-administered defined benefit volunteer firefighter service award program requested by the Comptroller, the program trustee or required by law, rule or regulation or by generally accepted actuarial or accounting practices applicable to State-administered defined benefit volunteer firefighter service award programs.

(c) The program actuary shall disclose the actuarial assumptions and actuarial methodology used to calculate the estimated and annual costs of a State-administered defined benefit volunteer firefighter service award program to the Comptroller and the program trustee. In addition, the program actuary shall upon request calculate and/or disclose any other information to the program trustee or the Comptroller.

(d) The program actuary shall cooperate with the administrator and program trustee to ensure the effective and efficient operation of the State-administered defined benefit volunteer firefighter service award programs, including the provision in a timely manner of such information as the administrator and program trustee may require to exercise and perform their powers and duties.

(e) The fee for providing such services and any other services provided by the program actuary shall be a charge against the sponsor and not exceed the amount or amounts which the program actuary is permitted to charge pursuant to an agreement between the program actuary and the Comptroller.

2 CRR-NY 155.17 Program trustee {#sec-2-crr-ny-155.17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.17}

(a) The Comptroller may designate himself or herself as program trustee or the Comptroller may contract with a financial organization or administrative service agency to serve as program trustee.

(b) The program trustee shall:

(1) hold the assets of the programs in trust;

(2) receive and process contributions to the trust in a timely manner;

(3) invest the assets of the trust;

(4) determine the fair market value of the trust estate as of each valuation date as defined in the program agreement, commencing with December 31, 2007;

(5) make payments approved by the administrator to program participants and their beneficiaries, and other approved disbursements from the trust fund;

(6) provide the administrator and program actuary with such information as may be necessary to enable the administrator and program actuary to prepare the annual reports for sponsors and annual participant statements provided for in this Part and program agreement, including the reports and statements required for calendar year 2007;

(7) provide the administrator with such information as may be necessary to enable the administrator to withhold all appropriate taxes and prepare and file all tax reporting forms required by Federal, State and local law; and

(8) cooperate with the administrator, program actuary and the Comptroller to ensure the effective and efficient operation of the programs. In furtherance of this purpose, the program trustee shall provide in a timely manner such information as the administrator and program actuary may require to exercise and perform their powers and duties under the General Municipal Law, this Part and the program agreement. The program trustee shall also provide in a timely manner such information as the Comptroller may require to monitor the operation of the programs.

(c) If the Comptroller is not the program trustee, the fee for providing such services and any other services provided by the program trustee shall be a charge against the sponsor and not exceed the amount or amounts which the program trustee is permitted to charge pursuant to an agreement between the program trustee and the Comptroller.

2 CRR-NY 155.18 Program document {#sec-2-crr-ny-155.18 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.18}

(a) The administrator shall provide the chief executive officer of each sponsor with a copy of the State-administered defined benefit volunteer firefighter service award program document. Such program document shall include a copy of the trust agreement and the adoption or transfer agreement, as amended.

(b) The administrator shall prepare, maintain and may amend the program document. The program document shall set forth the rights and obligations of sponsors, volunteer firefighters, participants and beneficiaries of participants, and procedures for the administration of State- administered defined benefit volunteer firefighter service award programs. The program document and any amendments thereto shall be consistent with the provisions of article 11-A of the General Municipal Law and the provisions of this Part, as amended. If the program document is prepared by an administrative service agency or a financial organization, the program document and any amendments thereto shall not take effect until approved by the Comptroller.

(c) The Comptroller shall prepare and/or amend the trust agreement pursuant to section 216-c of the General Municipal Law. The Comptroller may, however, direct the program trustee to prepare and/or amend the trust agreement subject to review and approval by the Comptroller. The Comptroller shall provide to the administrator a copy of the trust agreement and any amendments thereto.

(d) The adoption or transfer agreement shall be prepared by the administrator and the sponsor as provided in section 155.5 of this Part.

2 CRR-NY 155.19 Reports {#sec-2-crr-ny-155.19 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.19}

(a) On or before September 30th of each year, the administrator shall provide to each sponsor a report which shall include, but not be limited to, the following information for the sponsor for the preceding calendar year:

(1) the total value of program assets as of January 1st;

(2) the total amount contributed to the program by the sponsor;

(3) the total amount of trustee expenses charged against program assets;

(4) the total amount of administrative expenses charged against program assets;

(5) the total amount of interest and investment earnings credited to program assets;

(6) the total amount of investment losses charged to program assets;

(7) the total amount of distributions;

(8) the total amount of forfeitures;

(9) the total value of program assets as of December 31st;

(10) the actuarially determined normal cost and prior service cost for the preceding calendar year;

(11) the names of persons paid service awards during the preceding calendar year as well as the amount paid to each person during such year;

(12) the names and earned service credit of all persons who were participants in the program, including those in pay status or pending pay status, as of December 31st of such preceding calendar year along with a statement setting forth each person's status in the program as of such date;

(13) the names of those active volunteer firefighters who were not participants as of December 31st of such preceding calendar year; and

(14) the projected annual program costs for each year within the five calendar year period next following the current calendar year.

(b) On or before September 30th of each year, the administrator shall provide to each volunteer fire company or volunteer fire department, and immediately thereafter each volunteer fire company or volunteer fire department shall provide to each participant who is a member of the volunteer fire company or volunteer fire department, a confidential statement for the preceding calendar year which shall include, but shall not be limited to, the following information for the participant:

(1) name;

(2) address;

(3) social security number;

(4) date of birth;

(5) number of years of volunteer firefighter service credited as of December 31st;

(6) the amount of any death or disability benefit payable as of December 31st to the participant or the participant's beneficiary;

(7) whether the participant had a nonforfeitable right to a service award as of December 31st;

(8) a statement as to the number of years of volunteer firefighter service required for the participant to acquire a nonforfeitable right to a service award;

(9) name(s) of the beneficiaries designated by the participant;

(10) a description of the sponsor report;

(11) the name and address of the person to whom the sponsor report was mailed from whom the participant may obtain a copy of such report;

(12) the name of the person in the volunteer fire company or volunteer fire department who submitted information about the participant to the administrator; and

(13) the procedure for correcting information shown on the statement.

2 CRR-NY 155.20 Disclosure {#sec-2-crr-ny-155.20 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.20}

(a) Not later than six months after a volunteer firefighter becomes a participant in a State- administered defined benefit service award program, the administrator shall provide to the volunteer fire company or volunteer fire department of which the participant is a member, and promptly thereafter the volunteer fire company or volunteer fire department shall provide to the participant, a summary of the program's provisions as adopted by the sponsor of the program.

(b) In the event that a State-administered volunteer firefighter defined benefit service award program is amended, the administrator shall provide to each volunteer fire company or volunteer fire department a copy of the amendment and a written non-technical explanation of such amendment within six months after the date on which the amendment takes effect and promptly thereafter each volunteer fire company or volunteer fire department shall provide a copy of the amendment and explanation to each participant who is a volunteer firefighter of the volunteer fire company or volunteer fire department.

2 CRR-NY 155.21 Standards for selecting service providers {#sec-2-crr-ny-155.21 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.21}

Service providers shall be selected after competitive proposals are solicited.

(a) When selecting an administrative service agency or financial organization to serve as administrator, the following standards shall be utilized, with each standard to be weighted at the discretion of the Comptroller:

(1) the entity's experience with defined benefit programs;

(2) the entity's ability to perform the required duties; and

(3) the cost of services to be provided by the entity.

(b) When selecting an administrative service agency or financial organization to serve as program trustee or a financial organization to invest program funds, the following standards shall be utilized, with each standard to be weighted at the discretion of the Comptroller:

(1) the standards set forth in subdivision (a) of this section;

(2) the entity's investment expertise;

(3) the capitalization of the entity;

(4) the entity's creditworthiness; and

(5) the entity's ability to perform the required duties in recognition of the fiduciary nature of its responsibilities.

(c) When selecting the program actuary, the following standards shall apply, with each standard to be weighted at the discretion of the Comptroller:

(1) the standards set forth in subdivision (a) of this section;

(2) the professional credentials of the person applying to be appointed as the program actuary.

2 CRR-NY 155.22 Acknowledgment {#sec-2-crr-ny-155.22 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.22}

Each actuary, administrative service agency or financial organization selected to provide services in connection with State-administered volunteer firefighter defined benefit service award programs shall contractually agree to discharge its duties as a fiduciary solely in the interest of the participants and beneficiaries of the State-administered defined benefit volunteer firefighter service award programs. The fiduciary standard of care, which shall be an express provision of any contract with an actuary, administrative service agency or financial organization, shall permit the fiduciary to accept, hold, invest in and retain only such investments as would be made with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.

2 CRR-NY 155.23 Solicitation, education and confidentiality {#sec-2-crr-ny-155.23 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.23}

(a) No financial organization, administrative service agency or actuary, nor any of their agents, shall solicit a volunteer firefighter to purchase any products made available by such financial organization, administrative service agency or actuary other than in connection with the State-administered defined benefit volunteer firefighter service award program, nor use information obtained by reason of its appointment as a financial organization, administrative service agency, or actuary to solicit volunteer firefighters with respect to such other products.

(b) Educational materials designed to acquaint volunteer firefighters with the benefits of the State-administered defined benefit volunteer firefighter service award program may be provided by the financial organization, administrative service agency, or actuary upon prior approval by the Office of the State Comptroller. In addition, at the time of distribution of a service award, an administrative service agency, financial organization, or actuary may include with the distribution written information concerning the potential tax consequences of the distribution and generic categories of investment options. Such information may contain a statement indicating that additional information may be obtained from the administrative service agency, financial organization, or actuary or their agents and from other financial institutions, but in all cases such information shall also contain a clear and prominent statement that the Office of the State Comptroller does not review, approve, endorse or recommend, and is not in any way involved with, any financial instrument, product or service offered by or acquired through, an administrative service agency, financial organization, or actuary or their agents, or any other financial institution.

(c) Except as otherwise provided by law, all information obtained under the program by the sponsor, a volunteer fire company or volunteer fire department, an administrative service agency, financial organization, or actuary shall be confidential and shall be used exclusively for purposes relating to the program.

2 CRR-NY 155.24 Optional forms of payment of service awards {#sec-2-crr-ny-155.24 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 155.24}

(a) There shall be two forms available for payment of service awards commencing on or after attainment of the entitlement age:

(1) a monthly payment straight life annuity (standard form);

(2) a 5- or 10-year continuous and certain monthly payment life annuity which is actuarially equivalent to the monthly payment straight life annuity (standard form).

(b) There shall be two forms available for payment to participants who upon application to the administrator have been determined by the administrator to be totally and permanently disabled:

(1) monthly payment straight life annuity; or

(2) a single lump sum.

Both forms of payment shall be actuarially equivalent to the monthly straight life annuity (standard) form of payment that would have commenced to the participant on the first day of the month following or coinciding with the participant's birthday on which he or she attains the entitlement age.

(c) Forms available for payment of service awards to beneficiaries of deceased participants.

(1) If the beneficiary is the participant's estate, payment shall be a single lump-sum which shall be actuarially equivalent to the monthly straight life annuity (standard) form of payment that would have commenced to the participant on the first day of the month following or coinciding with the participant's birthday on which he or she attains the entitlement age or actuarially equivalent to any continuing payments to the participant's designated beneficiary had the participant been being paid a service award at the time of his or her death and had the participant designated a person (or persons) to be his or her beneficiary.

(2) If the participant died before the effective date of the commencement of payment of his or her service award, the payments to the participant's designated beneficiary, which shall be actuarially equivalent to the monthly straight life annuity (standard) form of payment that would have commenced to the participant on the first day of the month following or coinciding with the later of the participant's birthday on which he or she attains the entitlement age or the participant's date of death, shall be in one of the following forms:

(i) monthly payment straight life annuity; or

(ii) a single, lump-sum.

(3) If the participant died after the effective date of the commencement of payment of his or her service award, the participant's designated beneficiary shall have the option to be paid:

(i) the remaining monthly service award payments due to the designated beneficiary under the optional form of payment selected by the participant; or

(ii) a single, lump-sum which is actuarially equivalent to the remaining monthly service award payments due to the designated beneficiary under the optional form of payment selected by the participant.

(d) In all cases where the monthly payments to a participant or a beneficiary under a monthly payment straight life annuity form of payment option shall be less than $50, payment shall be made in an actuarially equivalent single, lump-sum to the participant or the participant's designated beneficiary (applies to subdivisions [a], [b] and [c] of this section).

(e) In any case where a deceased participant's designated beneficiary dies before having received all service award payments that would have been made to such designated beneficiary had he or she survived, the remaining payments shall be made to the estate of such designated beneficiary in an actuarially equivalent lump-sum.

Part 156 THE NEW YORK ACHIEVING A BETTER LIFE EXPERIENCE SAVINGS ACCOUNT ACT

2 CRR-NY 156.1 Purpose; authority {#sec-2-crr-ny-156.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.1}

The New York Achieving A Better Life Experience Savings Account Act (NY ABLE Program or the program) was established for the purpose of enabling residents of New York to benefit from the tax incentive provided for qualified disability expenses under the Internal Revenue Code of 1986, as amended (the code), and to encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities, as defined by the Code, to maintain health, independence and quality of life; and to provide secure funding for disability-related expenses on behalf of designated beneficiaries with intellectual, developmental or other disabilities that will supplement, but not supplant, benefits provided through existing sources. The Comptroller of the State of New York (the Comptroller) is required to implement the NY ABLE Program as a qualified ABLE program under section 529A of the code, and to make changes to the program required for participants to obtain the tax benefits provided thereunder. These rules, developed in consultation with the Commissioners of the Office for People With Developmental Disabilities, the Office of Mental Health, the Department of Health, and the Office of Temporary and Disability Assistance, clarify and implement certain provisions of article 84 of the Mental Hygiene Law (article 84), as authorized and required thereby, to maintain the program as a qualified ABLE program. In the event that changes in Federal law or rules necessitate program changes in order to maintain the program as a qualified ABLE program, the Comptroller, in consultation with the above-referenced commissioners, shall promptly:

(a) take all appropriate administrative steps to conform program requirements to Federal law and rules; and

(b) initiate the rulemaking procedure to promulgate necessary and appropriate amendments to this Part.

2 CRR-NY 156.2 Definitions {#sec-2-crr-ny-156.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.2}

(a) Unless otherwise defined, the terms used herein shall have the same meaning as used in the program disclosure booklet for the program, as now in effect or hereafter amended (the program disclosure booklet), which describes the program’s operation and financial information and serves as the program’s offering document. The program disclosure booklet can be obtained from the program manager selected by the Comptroller pursuant to article 84 of the Mental Hygiene Law.

(b) The following terms used herein shall have the meanings set forth below:

(1) Account or NY ABLE account means an individual savings account established in accordance with section 529A of the code.

(2) Account owner means a person who opens an account pursuant to section 529A of the code. The account owner must be the designated beneficiary of the account, and an account owner may own only one account.

(i) Establishment of ABLE account. In accordance with Federal regulations adopted under section 529A of the Internal Revenue Code, an account may be established by the following persons, in order of priority of authority:

(a) the eligible individual;

(b) a person selected by the eligible individual; or

(c) if an eligible individual is unable to establish an account on his or her own behalf, the account may be established on behalf of the eligible individual by the following:

(1) the eligible individual’s agent under a power of attorney;

(2) the eligible individual’s legal guardian;

(3) the eligible individual’s spouse;

(4) the eligible individual’s parent;

(5) the eligible individual’s sibling;

(6) a grandparent of the eligible individual; or

(7) a representative payee appointed for the eligible individual by the Social Security Administration.

(ii) The person seeking to establish an ABLE account on behalf of an eligible individual shall certify, under penalty of perjury:

(a) the basis of such person’s authority to establish such account; and

(b) that there is no other person with higher priority pursuant to the hierarchy described in subparagraph (i) of this paragraph to establish the account.

(3) Designated beneficiary means, with respect to an account, any individual who is an eligible individual as defined under section 529A(e)(1) of the code, who establishes an ABLE account, is the owner of such account, and whose qualified expenses are expected to be paid from the account. A designated beneficiary shall be a resident of New York State or a resident of a state that does not have a qualified ABLE program recognized under section 529A of the code and such state has entered into a contract with New York State to provide residents of the contracting state with access to New York State’s ABLE Program.

(i) Signature authority over account. In general, the designated beneficiary will have authority over his or her ABLE account; however, if an individual other than the designated beneficiary establishes the account pursuant to clauses (2)(i)(b) and (c) of this subdivision, then such individual shall have signature authority and may select a co-signatory. If co-signatories are selected, such co-signatories may act separately or jointly.

(ii) Successor signature authority. The designated beneficiary may remove and replace any person with signature authority over such account and may designate a successor to the person with signature authority. If the designated beneficiary does not designate a successor to the person with signature authority, the person with signature authority over the account may designate such a successor, consistent with the order of priority in subparagraph (2)(i) of this subdivision.

(iii) Change in designated beneficiary. In accordance with Federal regulations adopted under section 529A of the Internal Revenue Code, the designated beneficiary of an account may be changed:

(a) during the life of the original designated beneficiary; or

(b) to take effect upon the death of the original designated beneficiary. If the change in designated beneficiary becomes effective upon the death of the original designated beneficiary, the amount of account assets to be transferred pursuant to such change is first subject to payment of any qualified disability expenses incurred but not paid and to post death payments as defined in section 529A of the Internal Revenue Code and related regulations.

(4) Nonqualified withdrawal means a distribution from an account which is not:

(i) a distribution made to a designated beneficiary for qualified expenses;

(ii) a distribution made to a designated beneficiary or to his or her estate on or after his or her death for qualified expenses incurred prior to or as a result of the death of the designated beneficiary; or

(iii) a distribution made to a designated beneficiary who is no longer an eligible individual.

(5) Qualified expenses mean any qualified disability expense defined in section 529A(e)(5) of the code, or in any regulations promulgated thereunder. Examples of types of qualified disability expenses include, but are not limited to, the following: education, housing, transportation, employment training and support, assistive technology and personal support services, health, prevention and wellness, financial management and administrative services, legal fees, and expenses for oversight and monitoring, which are incurred during the lifetime of the designated beneficiary, and funeral and burial expenses of the designated beneficiary.

2 CRR-NY 156.3 Maximum contribution amount {#sec-2-crr-ny-156.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.3}

The amount contributed to an account for a designated beneficiary in the program shall not exceed the amount established by the Comptroller pursuant to section 84.09 of the Mental Hygiene Law. The program manager shall monitor contributions so as to prevent contributions to any account for a designated beneficiary when such contribution would cause the amount of money in such account to exceed this amount. Any amount tendered as a contribution, or portion of a contribution, that if accepted as a contribution would cause the amount in any account to exceed this amount, shall be rejected as a contribution and shall be returned to the contributor.

2 CRR-NY 156.4 Withdrawals; distributions {#sec-2-crr-ny-156.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.4}

A designated beneficiary is eligible for a distribution from accumulated funds deferred to his or her NY ABLE account in full or partial disbursement options. Withdrawals from an account may be made on such notice as is determined to be feasible by the program manager.

2 CRR-NY 156.5 Transfer to State {#sec-2-crr-ny-156.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.5}

Subject to any outstanding payments due for qualified disability expenses, upon the death of the designated beneficiary, all amounts remaining in the qualified ABLE account not in excess of the amount equal to the total medical assistance paid for the designated beneficiary after the establishment of the account, net of any premiums paid from the account or paid by or on behalf of the beneficiary to the State’s Medicaid Buy-In or Medicare Savings programs, shall be distributed to the State upon the filing of a claim for payment by the State. For the purposes of this section, the State shall be a creditor of the account and not a beneficiary. Any amount remaining in the qualified ABLE account after any state recovery will become part of the designated beneficiary’s estate or may be transferred to a successor designated beneficiary, if such a successor has been named to take effect upon the death of the original designated beneficiary, in accordance with Federal regulations adopted under section 529A of the Internal Revenue Code.

2 CRR-NY 156.6 Program implementation and management {#sec-2-crr-ny-156.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.6}

The Comptroller shall implement and manage the NY ABLE Program through the use of third party vendors to administer accounts, financial organizations to serve as managers and depositories for the program and such consultants, outside counsel and other third party vendors that the Comptroller deems necessary and proper. Such vendors shall be procured in accordance with provisions of the State Finance Law governing State contracts, as modified by chapter 149 of the Laws of 2016.In procuring financial organizations to serve as program manager(s) and depository(ies), the Comptroller shall, at a minimum, consider and evaluate the following factors:

(a) financial stability and integrity of the financial organization;

(b) the safety of the investment instrument being offered;

(c) the ability of the investment instrument to track increasing costs of obtaining care for individuals with disabilities;

(d) the ability of the financial organization to satisfy recordkeeping and reporting requirements;

(e) the financial organization’s plan for promoting the program and the investment it is willing to make to promote the program;

(f) the fees, if any, proposed to be charged to persons for opening or maintaining accounts;

(g) the minimum initial deposit and minimum contributions that the financial organization will require;

(h) the ability of banking organizations to accept electronic withdrawals, including payroll deduction plans; and

(i) other benefits to the State or its residents included in the proposal, including fees payable to the State to cover expenses of operation of the program.

Other factors, including programs and practices to prevent fraud and unauthorized transactions will be included in any procurement and resulting contract with a program manager.

The Comptroller shall select from among bidding financial organizations those that demonstrate the most advantageous combination, both to potential participants and to the State, of the above-enumerated factors to serve as managers and depositories of the program.

2 CRR-NY 156.7 Fees {#sec-2-crr-ny-156.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.7}

The Comptroller may collect fees from account owners and financial organizations serving as account depositaries and managers of the program to cover expenses of operating and administering the program as are deemed necessary in his or her discretion.

2 CRR-NY 156.8 NY ABLE Account Advisory Council {#sec-2-crr-ny-156.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.8}

(a) Membership.

The NY ABLE Account Advisory Council shall consist of the following persons or their designees:

(1) Ex officio members, as follows:

(i) the Comptroller;

(ii) the Commissioner of the Office of Mental Health;

(iii) the Commissioner of the Office for People With Developmental Disabilities;

(iv) the Commissioner of the Department of Health;

(v) the Superintendent of the Department of Financial Services;

(vi) the Commissioner of the Department of Taxation and Finance; and

(vii) the Commissioner of the Office of Temporary and Disability Assistance.

(2) Appointed members, as follows:

(i) three individuals appointed by the Governor;

(ii) two individuals appointed by the Temporary President of the Senate;

(iii) two individuals appointed by the Speaker of the Assembly.

(b) Qualifications; term.

The executive and legislative appointees shall have the following qualifications: knowledge, skill and expertise in issues relating to individuals with disabilities; expertise in services to persons with disabilities; or knowledge in management and support of the fiscal affairs of such disabilities. Such appointed members of the advisory council shall be appointed for a term of three years and shall be representative of all geographic areas of the State.

(c) Duties.

The NY ABLE Account Advisory Council shall undertake the following duties:

(1) study and review the work of the Comptroller in relation to the establishment of the program;

(2) advise the Comptroller and make recommendations for the improvement of the program;

(3) advise the Comptroller on legislative and regulatory activity which may be required for compliance; and

(4) advise the Comptroller on the development of materials to be provided to account owners, prospective account owners and designated beneficiaries regarding the following:

(i) the terms and conditions for purchasing an account;

(ii) any restrictions on the substitution of beneficiaries;

(iii) the person or entity entitled to terminate the account;

(iv) the period of time during which a beneficiary may receive benefits under the program;

(v) the terms and conditions under which money may be wholly or partially withdrawn from the program, including, but not limited to, any reasonable charges and fees that may be imposed for withdrawal;

(vi) the probable tax consequences associated with contributions to and distributions from accounts; and

(vii) other rights and obligations under the program, including, but not limited to, the potential impact on means-tested programs and the State’s right to recover the total Medical Assistance paid for the designated beneficiary, or any part thereof, and any net premiums paid by the designated beneficiary to the State’s Medicaid Buy-In Program and/or Medicare Savings Program upon the death of a designated beneficiary in reimbursement for Medical Assistance and/or Medicare covered by the State while the account was open.

(d) Convening of NY ABLE Account Advisory Council.

The advisory council shall meet as provided for in section 84.07 of the Mental Hygiene Law. Such meetings may be held by teleconference or via other electronic medium which allows for oral participation by all present.

2 CRR-NY 156.9 No State guaranty {#sec-2-crr-ny-156.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 156.9}

A NY ABLE account is not insured by the State and neither the principal deposited, the payment of interest nor investment or other return is guaranteed by the State. The NY ABLE account savings agreement, the program disclosure booklet and every contract, application and similar document that may be used in connection with a contribution to an account shall clearly indicate that the account is not insured or guaranteed by the State.

Chapter V PUBLIC AUTHORITIES

Part 201 ACCOUNTING, REPORTING AND SUPERVISION REQUIREMENTS FOR PUBLIC AUTHORITIES

2 CRR-NY 201.1 Purpose, definitions and scope of Part {#sec-2-crr-ny-201.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 201.1}

(a) Purpose.

The purpose of this Part is to set forth the accounting, reporting and supervision requirements for all public authorities and other public corporations covered by this Part. The following terms are defined as follows for the purposes of this Part:

(1) Affiliate or affiliated with shall mean a corporate body or company controlling, controlled by, or under common control with another corporate body.

(2) Subsidiary shall mean a corporate body or company:

(i) having more than half of its voting shares owned or held by a public authority or other public corporation covered by this Part; or

(ii) having a majority of its directors, trustees or members in common with the directors, trustees or members of a public authority or other public corporation covered by this Part or as designees of a public authority or other public corporation covered by this Part.

(b) Scope.

This Part applies to all public authorities and other public corporations created by or existing under any law of the State of New York, including any and all affiliates and subsidiaries of such public authorities or public corporations, other than:

(1) a public authority or other public corporation created pursuant to agreement or compact with another state or with a foreign power, except where the parties to such agreement or compact have consented to the supervision of the authority’s or corporation’s accounts by the State Comptroller;

(2) a local authority as defined in section 2 of the Public Authorities Law.

2 CRR-NY 201.2 Reporting and accounting requirements {#sec-2-crr-ny-201.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 201.2}

Each public authority referred to in section 201.1(b) of this Part authority shall submit the following:

(a) the annual report of the public authority, in accordance with section 2800 of the Public Authorities Law;

(b) a transmittal letter from the public authority's chairperson or chief executive officer, representing that the reports are complete and have been prepared in conformity with this Part;

(c) the public authority's basic financial statements prepared in accordance with accounting principles generally accepted in the United States of America. Since public authorities are governmental entities, the accounting principles followed should be those prescribed by the Governmental Accounting Standards Board or its successors and should be applied on a consistent basis. If a public authority's basic financial statements will reflect a change in an accounting principle or principles that requires disclosure in the notes to the financial statements, the public authority must present a plan to implement a change in an accounting principle or principles to the State Comptroller not later than 30 days after the end of the public authority's fiscal year for which such change is planned. The plan to implement a change in an accounting principle or principles must set forth the reasons for the change and be accompanied by a letter from the public authority's current financial statement auditor indicating that the planned change in an accounting principle or principles would be considered an improvement in financial reporting in accordance with accounting principles generally accepted in the United States of America. No change in an accounting principle or principles may be implemented by a public authority specified in this Part without prior approval by the State Comptroller. From time to time, the State Comptroller may issue accounting directives to public authorities prescribing a specific method of implementing an accounting principle or the time of implementation. A public authority's basic financial statements must be in compliance with all such public authority accounting directives issued by the State Comptroller. Such financial statements shall be audited in accordance with government auditing standards issued by the Comptroller General of the United States. A copy of the financial statement auditor's report shall accompany the financial statements submitted pursuant to this Part

(d) the management letter comments, a report on internal controls over financial reporting, and a copy of any other communications required or allowed by government auditing standards issued by the Comptroller General of the United States to be issued by the public authority's independent auditor in connection with the most recent annual audit of the public authority's financial statements;

(e) an annual report on procurement contracts prepared in accordance with the provisions of section 2879 of the Public Authorities Law which shall include:

(1) A publicly available annual report describing procurement activity as specified in section 2879(6) of the Public Authorities Law. Such report shall include a listing of all procurement contracts entered into, all contracts entered into with New York State business enterprises and the subject matter and value thereof, the selection process used to select such contractors, all procurement contracts which were exempt from the publication requirements of article 4-C of the Economic Development Law, the basis for any such exemption, and the status of existing procurement contracts. Such report shall list for each contract the following information:

(i) contract or transaction number;

(ii) a description of the duties performed by the contractor;

(iii) the date of the contract and its duration;

(iv) the total value of the contract;

(v) identification of and the amount of State appropriated funds used for the contract;

(vi) the full name and address of the contractor;

(vii) the status of the contract including the amount spent or other considerations given pursuant to the contract during the reporting period and for the life of the contract to date;

(viii) whether the contractor is a certified minority- or women-owned business enterprise; and

(ix) the total number of bids or proposals received prior to the award of the contract; and

(2) a report on procurement contracts containing the information specified in section 2879(7) of the Public Authorities Law, which shall include the procurement guidelines adopted by the public authority in accordance with the provisions of section 2879 of the Public Authorities Law, an explanation of such guidelines and any amendments thereto since the last annual report;

(f) an investment report prepared in accordance with the provisions of section 2925(6) of the Public Authorities Law;

(g) a copy of the report of the annual independent audit of investments as required by section 2925(3)(f) of the Public Authorities Law. The investment audit report shall contain the following:

(1) a description of the scope and objectives of the audit;

(2) a statement that the audit was made in accordance with generally accepted government auditing standards for financial and compliance audits;

(3) a description of any material weaknesses found in the internal controls;

(4) a description of any noncompliance with the public authority's own investment policies as well as applicable laws, regulations and the State Comptroller's investment guideline requirements set forth in section 201.3 of this Part; and

(5) a statement of positive assurance of compliance on the items tested; and

(6) a statement of any other material deficiency or finding identified during the audit;

(h) the management letter comments and any other communication required by professional audit standards that was issued by the public authority's independent auditor in connection with its most recent annual audit of investments;

(i) completed annual public authority data request report; and

(j) such supplementary information and other data of a financial and managerial nature as shall be required by the State Comptroller.

2 CRR-NY 201.3 Investment guidelines for public authorities {#sec-2-crr-ny-201.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 201.3}

(a) Every public authority referred to in section 201.1(b) of this Part shall comply with the investment guideline requirements set forth in subdivision (c) of this section.

(b) Every public authority referred to in section 201.1(b) of this Part shall require its independent auditor to review the public authority's investment policies and practices to determine whether:

(1) the public authority complied with applicable laws, regulations and the State Comptroller's investment guideline requirements set forth in this section;

(2) the public authority complied with its own investment policies;

(3) investment assets were adequately safeguarded;

(4) adequate accounts and records were maintained which accurately reflect all transactions, including a report on the disposition of public authority investment assets; and

(5) a system of adequate internal controls was maintained.

(c)

(1) Investment guideline requirements. These investment guideline requirements are intended to guide public authorities in:

(i) establishing a prudent set of basic procedures to meet the individual investment objectives of each public authority;

(ii) assuring that investment assets are adequately safeguarded and collateralized;

(iii) establishing and maintaining a system of internal controls including adequate accounts and records, which accurately reflect in reasonable detail, investment transactions; and

(iv) providing for accurate reporting and evaluation of investment results in conformance with accounting principles generally accepted in the United States of America (GAAP).

(2) (i) All public authorities referred to in section 201.1(b) of this Part are required to comply with these investment guideline requirements. These guideline requirements contain certain fundamental principles and standards for the administration of an investment program. An investment program involving public funds must include four basic ingredients - legality, safety, liquidity and reasonable return. Section 2925 of the Public Authorities Law also requires public authorities to develop investment guidelines that meet certain basic requirements.

(ii) Because of the vast differences in the size and operations of public authorities and in the scope of their investment portfolios, these guideline requirements are intended to represent only minimum standards and be sufficiently broad to apply in most investment situations. It is the responsibility of each public authority to determine and evaluate its own risks in all its investment transactions with due regard to prudent business principles and practices. The governing body and management of a public authority are responsible for making investment decisions for the public authority and for doing so with the judgment, care, skill, prudence and diligence under the circumstances then prevailing that a knowledgeable and prudent investor acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. While individual public authorities are authorized to establish different systems and procedures that meet their specific needs in administering their investment programs, it is expected that all public authorities will meet the minimum standards contained in these guideline requirements. No departure from these guideline requirements may create an exception from a requirement imposed by law and every departure from these guideline requirements must be formally approved by a resolution of the governing body of the public authority, and a copy of such resolution shall be submitted to the Office of Budget and Policy Analysis of the Office of the State Comptroller not less than 30 days after the adoption of such resolution.

(iii) Public authority investments must be made in accordance with legal requirements:

(a) set forth in the statute which created a particular public authority, the Public Authorities Law or any other applicable law; and

(b) prescribed by the State Comptroller, the New York State Public Authorities Control Board or any other officer or entity having the authority to supervise or approve the activities of a public authority.

(c) In addition, investments must be adequately protected and deposits of money should be fully collateralized. The financial resources of the public authority should be properly managed to achieve investment income consistent with sound investment practice. The following provisions contain the essential elements that are generally recognized and accepted for the effective management and control of investments.

(3) Investment policy.

(i) Each public authority shall have a written investment policy approved by its governing body. Members of the governing body shall take an active role in the formulation of the investment policy. The investment policy shall be reviewed periodically (at least annually) and revised as necessary to reflect changes in available investment opportunities and market conditions or as a result of any recommendations from the periodic evaluation of the performance of the investment program or any audits of the investment program.

(ii) The governing body may wish to delegate the formulation of the investment policy to an investment committee of the governing body. In addition to formulating the investment policy, functions to be performed by the investment committee shall include, but not be limited to, evaluating the investment program by:

(a) monitoring the system of internal controls;

(b) verifying relevant matters relating to the securities purchased or held as collateral at least semi-annually and on an unscheduled basis;

(c) determining that the investment results are consistent with the governing body's objectives; and

(d) reviewing any independent audits of the investment program.

(iii) Investment policies shall include the following:

(a) Investment objectives and types of investment authorized. The primary investment objective of public entities is protection of principal. The investment policy shall contain a detailed list of the permitted investments which shall be consistent with the appropriate provisions of the law relating to the public authority, provisions of applicable note and bond resolutions and special policy directives of the governing body.

(b) Diversification of investments. The investment policy shall include standards for the diversification of investments, both with respect to type of investment and firms with which the public authority transacts business. Diversification policies shall also address the term of each investment.

(c) Delegation of investment management. All investment transactions shall be reviewed and approved by those officials designated by the governing body. The investment policy shall list persons who are authorized to make investment decisions and shall limit the number of persons who may place orders. In some cases the State laws governing the operations of a public authority may designate an official outside of the public authority, such as the Commissioner of Taxation and Finance, to be the fiscal agent for the public authority and to invest public authority moneys not required for immediate use. Such a delegation does not relieve the public authority from the responsibility of overseeing the investment program, since ultimately the governing body is responsible for the management and safeguarding of all the public authority assets entrusted in its care.

(d) Internal control and procedures. The investment policy shall include provisions requiring the investment officer to establish and maintain an internal control structure designed to ensure that the investment assets of the public authority are protected from loss, theft or misuse. The internal control structure shall be designed to provide reasonable assurance that these objectives are met. The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be derived from the control and that the valuation of costs and benefits requirements estimates and judgments by management. Accordingly, the investment officer shall establish a process for an annual independent review by an independent auditor to assure compliance with policies and procedures. The internal controls shall address the following:

(1) control of collusion;

(2) separation of transaction authority from accounting and recordkeeping;

(3) custodial safekeeping;

(4) avoidance of physical delivery securities;

(5) clear delegation of authority to subordinate staff members;

(6) confirmation of transactions for investments and wire transfers; and

(7) wire transfer agreements.

(e) Selection of investment firms. An approved list of financial institutions shall be established for each type of investment based on applicable law and upon the qualifications of investment bankers, brokers, agents, dealers and other investment advisors and agents which transact business with the public authority. In addition a list shall also be maintained of approved security broker/dealers selected by creditworthiness (e.g., a minimum capital requirement of $10,000,000 and at least five years of operation). These may include "primary" dealers or regional dealers that qualify under Securities and Exchange Commission (SEC) Rule 15C3-1 (uniform net capital rule). All financial institutions and broker/dealers who desire to become qualified for investment transactions must supply the following as appropriate:

(1) audited financial statements;

(2) proof of National Association of Securities Dealers (NASD) certification;

(3) proof of state registration;

(4) completed broker/dealer questionnaire, in the form adopted by the public authority.

(f) Investment procedures and contracts. The public authority's investment guidelines shall include procedures for each investment or transaction. Such procedures shall include provisions:

(1) deemed necessary and sufficient to secure in a satisfactory manner the public authority's financial interest in each investment;

(2) covering the use, type and amount of collateral or insurance for investments requiring collateralization;

(3) establishing a method of valuation of collateral, and procedures for monitoring the valuation of such collateral on a regular basis and obtaining additional collateral when necessary to adequately secure collateralized investments; and

(4) for the monitoring, control, deposit, and retention of investments and collateral which shall include, in the case of a repurchase agreement, a requirement that the obligations purchased be physically delivered for retention to the public authority or its agent (which shall not be an agent of the party with whom the public authority enters into such repurchase agreement), unless such obligations are issued in book-entry form, in which case the public authority shall take such other action as may be necessary to obtain title to or a perfected security interest in such obligations.

The investment guidelines shall include a requirement that the public authority enter into a written contract for each investment, the provisions of which cover the items set forth in subclauses (1) through (4) of this clause. If the public authority shall determine by resolution that a written contract is not practical or that there is not a regular business practice of written contracts with respect to a specific investment or transaction, the procedures prescribed for that type of investment shall nonetheless adhere to subclauses (1) through (4) of this clause.

(g) Collateralization. The investment policy shall include provisions and procedures to fully secure or collateralize the public authority's financial interest in investments requiring security or collateralization, provided that the policy may include a description of the circumstances under which the public authority's financial interest in investments may be less than fully secured or collateralized. The collateral for investments shall be limited to obligations having the same ratings as or higher ratings than the ratings of the obligations permissible for the public authority's direct investments. The collateral shall be segregated in the public authority's name and shall be in the custody of the public authority or a third party custodian. The public authority shall not accept a pledge of a proportionate interest in a pool of collateral. For demand deposits, time deposits and certificates of deposit, collateralization is required for amounts over and above Federal Deposit Insurance Corporation coverage. The market value and the accrued interest of the collateral shall equal the value of the investment and any accrued interest at all times. The recorded value of the collateral backing any investment shall be compared with current market values (mark-to-market) at the time of initial investment, and thereafter at least monthly (or more often if the public authority determines that volatile market conditions require more frequent valuation), to be certain that it continues to be at least equal to the value of the investment plus accrued interest. The mark-to-market reviews shall use "bid" price from one constant source. It may be desirable to require collateralization in excess of the market value at the time of purchase. There shall be a written custodial agreement which, among other things, specifies the circumstances under which collateral may be substituted and provides that the custodian is holding the securities solely for the benefit of the public authority and makes no claim thereto.

(h) Performance evaluation and audit. The investment policy shall provide for the systematic and periodic evaluation of investment program compliance. This function may be performed by the governing body itself or assigned to the investment committee or the internal or external auditors. Section 2925(3)(f) of the Public Authorities Law requires each public authority to have an annual independent audit of all investments.

(i) Reporting. The investment policy shall explicitly require periodic reporting on the investment program including:

(1) Internal management reporting. There shall be periodic (at least quarterly) reporting to the governing body on the investment program operations. Such reporting provides an effective tool for evaluating investment program compliance. Section 2925(5) of the Public Authorities Law requires each public authority to have prepared and filed with the governing body quarterly reports or reports covering such other period as may be approved by the governing body. The report or reports, from a designated officer or employee must indicate any new investments, the inventory of existing investments and the selection of investment bankers, brokers, agents, dealers, or auditors.

(2) Financial statements. The public authority's annual basic financial statements, which are required to be prepared in conformance with accounting principles generally accepted in the United States of America (GAAP), shall contain all note disclosures on deposits with financial institutions and investments required by the Governmental Accounting Standards Board (GASB) for the period covered by the basic financial statements. GASB has issued numerous Statements, Interpretations and Technical Bulletins establishing and clarifying investment reporting and disclosure requirements. Public authorities shall review and apply these standards and guidance as appropriate and in compliance with the requirements of this Part and such public authority accounting directives as may be issued by the State Comptroller.

(3) Reporting to oversight agencies. Section 2925(6) of the Public Authorities Law requires public authorities to submit an annual investment report. Section 2925(7)(a) of the Public Authorities Law requires each public authority, a majority of the members of which consist of persons appointed by the Governor or who serve as members by virtue of holding a civil office of the State, or a combination thereof, to submit the annual investment report to the Division of the Budget with copies to the Office of the State Comptroller, the Senate Finance Committee, and the Assembly Ways and Means Committee. Section 2925(7)(b) of the Public Authorities Law requires each public authority, a majority of the members of which does not consist of persons appointed by the Governor or who serve as members by virtue of holding a civil office of the State, or a combination thereof, to submit the annual investment report to the chief executive officer and chief fiscal officer of each municipality for the benefit of which it was created and to the Office of the State Comptroller. Such report shall include:

(i) the investment guidelines required by Public Authorities Law, section 2925(3) and any amendments to such guidelines since the last investment report;

(ii) an explanation of the investment guidelines and amendments;

(iii) the results of the annual independent audit;

(iv) the investment income record of the public authority; and

(v) a list of the total fees, commissions or other charges paid to each investment banker, broker, agent, dealer and advisor rendering investment associated services to the public authority since the last investment report.

(4) Operating procedures. Operating procedures for the administration of an investment program shall include the following:

(i) The investment selection process shall utilize competitive quotations or negotiated prices, except in the purchase of Federal government securities at auction.

(ii) Each disbursement of funds (and corresponding receipt of securities) or delivery of securities (and corresponding receipt of funds) shall be based upon proper written authorization. If the authorization is initially given verbally, there shall be written confirmation from the investment officer to the custodian.

(iii) Payment of funds shall only be made upon delivery of securities.

(iv) The process of initiating, reviewing and approving requests to buy and sell investments shall be documented and retained for audit purposes.

(v) Custodians must have prior authorization from the public authority to deliver obligations and collateral. Delivery of obligations sold shall only be made upon receipt of funds.

(vi) Custodial banks shall be required to report monthly or more frequently on activity occurring in the public authority's custodial account.

(vii) There shall be at least monthly verifications of both the principal amount and the market values of all investments and collateral. Appropriate listings shall be obtained from the custodian and compared against the public authority's records.

(viii) A record of investments shall be maintained by the investment officer. The records shall identify the security, the fund for which held, the place where kept, date of disposition and amount realized, if required, and the market value and custodian of collateral.

(5) Procedures for repurchase agreements. Great care must be exercised by those public authorities that invest in repurchase agreements. Because repurchase agreements may expose investors to serious risks, the following procedures shall be followed to reduce those risks:

(i) Repurchase agreements shall only be purchased from banks or trust companies authorized to do business in the State of New York or from broker dealers on the Federal Reserve Bank of New York's list of primary government securities dealers.

(ii) Repurchase agreements shall be for no more than 90 days. Agreements which are "open" (continuing in nature) shall not be made.

(iii) The public authority shall execute a master repurchase agreement with each broker dealer which outlines the basic rights of both buyer and seller including:

(A) the events of default which would permit the purchaser to liquidate the pledged collateral;

(B) the relationship between parties to the agreement, which shall ordinarily be purchaser and seller;

(C) procedures which ensure that the public authority obtains a perfected security interest in the securities which are the subject of the agreement;

(D) the method of computing margin maintenance requirements and providing for timely correction of margin deficiencies or excesses. Specific guidelines regarding margin maintenance shall be established, taking into consideration:

(I) the type of collateral;

(II) the maturity of the collateral;

(III) the method by which additional margin will be maintained; and

(E) circumstances, if any, under which substitution of securities subject to the agreement shall be permitted.

(iv) The public authority or its custodian must take possession of the securities being purchased by physical delivery or book entry. The custodian shall not be the same party that is selling the securities to the public authority.

(v) A custodial bank shall be a member of the Federal Reserve Bank or maintain accounts with member banks to accomplish book-entry transfer of securities to the credit of the public authority.

(6) Independent audit considerations.

(i) Section 2925(3)(f) of the Public Authorities Law requires each public authority to have an annual independent audit of all investments. The annual investment audit:

(A) shall determine whether: the public authority complies with its own investment policies; investment assets are adequately safeguarded; adequate accounts and records are maintained which accurately reflect all transactions and report on the disposition of public authority investment assets; and a system of adequate internal controls is maintained;

(B) shall determine whether the public authority complied with the applicable laws, regulations, the State Comptroller's investment guideline requirements set forth in this subdivision, and such public authority accounting directives as may be issued by the State Comptroller; and

(C) shall be designed to the extent practical to satisfy both the common interests of the public authority and the public officials accountable to others.

(ii) A written audit report shall be prepared presenting the results of the annual independent audit of all investments and shall include:

(A) a description of the scope and objectives of the audit;

(B) a statement attesting that the audit was conducted in accordance with generally accepted government auditing standards;

(C) a description of any material weaknesses found in the internal controls;

(D) a description of all non-compliance with the public authority's own investment policies as well as applicable laws, regulations, the State Comptroller's investment guideline requirements for Public Authorities set forth in this subdivision, and such public authority accounting directives as may be issued by the State Comptroller;

(E) a statement of positive assurance of compliance on the items tested; and

(F) a statement on any other material deficiency or finding identified during the audit not covered in subitem (E) of this item.

(iii) The audit report shall be filed within 90 days after the close of the public authority's fiscal year with the Office of Budget and Policy Analysis of the Office of the State Comptroller.

(7) Effective date. These investment guideline requirements for Public Authorities are effective immediately upon the adoption of this subdivision of the State Comptroller's regulations and supersede the Investment Guidelines for Public Authorities issued by the Office of the State Comptroller on January 2, 1998.

2 CRR-NY 201.4 Submission of required documents and reports; waivers {#sec-2-crr-ny-201.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 201.4}

(a) The documents and reports required by this Part shall be submitted by a public authority in an electronic format prescribed by the Office of Budget and Policy Analysis of the Office of the State Comptroller, within 90 days after the close of the public authority's fiscal year, to an internet address or an e-mail address specified by the Office of Budget and Policy Analysis. Such documents and reports shall also be posted on the authority’s website.

(b) Questions relating to the applicability or interpretation of this Part should be submitted to the Office of Budget and Policy Analysis.

(c) A public authority may request a waiver of a deadline established by these regulations. Such request should be submitted in writing prior to the deadline. No waiver from a requirement established by law shall be granted.

(d) A request submitted in an electronic format shall be submitted to an internet address or an e-mail address specified by the office of Budget and Policy Analysis of the office of the State Comptroller. A request submitted in a non-electronic format should be addressed to the Office of Budget and Policy Analysis, State Comptroller, 110 State Street, Albany, NY 12236-0001.

2 CRR-NY 201.5 [Repealed] {#sec-2-crr-ny-201.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 201.5}

Part 202 BUDGET AND FINANCIAL AND STRATEGIC OPERATION PLAN FORMAT, SUPPORTING DOCUMENTATION AND MONITORING—METROPOLITAN TRANSPORTATION AUTHORITY

2 CRR-NY 202.1 Purpose and applicability of Part {#sec-2-crr-ny-202.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 202.1}

This Part shall apply to the Metropolitan Transportation Authority, created pursuant to title 11 of article 5 of the Public Authorities Law (section 1260 et seq.). The purpose of this Part is to set forth specific requirements in connection with the format of, the preparation and maintenance of supporting documentation for, and the monitoring of, the annual budgets and financial plans, and the format of certain financial information in strategic operation plans, of the Metropolitan Transportation Authority. All requirements of this Part shall apply immediately upon the effective date of this Part, except as otherwise consented to by the Comptroller at the request of the Metropolitan Transportation Authority upon good cause shown.

2 CRR-NY 202.2 Definitions {#sec-2-crr-ny-202.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 202.2}

For purposes of the Part:

(a) MTA shall mean the Metropolitan Transportation Authority, created by title 11 of article 5 of the Public Authorities Law (section 1260 et seq.), as amended.

(b) MTA affiliates shall mean the Triborough Bridge and Tunnel Authority, and the New York City Transit Authority and its subsidiary, the Manhattan and Bronx Surface Transit Operating Authority.

(c) MTA subsidiaries shall mean the Long Island Rail Road Company, the Metro-North Commuter Railroad Company, the Staten Island Rapid Transit Operating Authority, the Metropolitan Suburban Bus Authority, the MTA Capital Construction Company and the First Mutual Transportation Assurance Company and the MTA Grand Central Madison Operating Company, together with all other subsidiary corporations formed by the MTA in accordance with the provisions of section 1266(5) of the Public Authorities Law.

(d) MTA Headquarters shall mean the budgetary component within the MTA that provides for certain centralized functions, such as budgeting, cash management, finance and legal services.

(e) MTA agencies shall mean MTA headquarters, MTA affiliates and MTA subsidiaries.

(f) Budget shall mean the preliminary, proposed final and final operating budgets of the MTA and each of the MTA Agencies.

(g) Plan shall mean the financial plan for the MTA and each of the MTA agencies, and any updates.

(h) Gap shall mean the difference between projected revenues and expenses for any given fiscal year before a proposed fare increase or other proposed management actions that increase revenues or reduce costs, whether such actions are initiated by the MTA or required to be implemented by the MTA through other means, including but not limited to Federal, New York State or New York City legislative action.

(i) Gap-closing program shall mean any combination of actions that reduce costs or increase revenues that lower a gap in any given fiscal year, whether such actions are initiated by the MTA or required to be implemented by the MTA through other means, including but not limited to Federal, New York State or New York City legislative action.

(j) Utilization shall mean subway, bus, railroad and paratransit ridership, and bridge and tunnel crossings.

(k) Reimbursable shall mean costs and expenses that are funded by capital funds.

(l) Capital Program Review Board shall mean the Metropolitan Transportation Authority Capital Program Review Board created by section 1269-a of the Public Authorities Law.

2 CRR-NY 202.3 Budget and plan format {#sec-2-crr-ny-202.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 202.3}

Each budget and plan shall:

(a) be prepared so that information relating to the MTA and each of the MTA agencies is presented in a consistent manner and format;

(b) be prepared in accordance with generally accepted accounting principles, except as otherwise consented to by the Comptroller upon good cause shown;

(c) be based on reasonable assumptions and methods of estimation;

(d) include estimates of projected operating revenues and other operating funding sources (including but not limited to fares, tolls, taxes and governmental subsidies);

(e) include estimates of projected reimbursable and nonreimbursable personal service operating expenses, including but not limited to salary and wage costs, overtime, health insurance and pension costs;

(f) include estimates of projected reimbursable and nonreimbursable nonpersonal service operating expenses, including but not limited to power, fuel, public liability, insurance, materials and supplies, contract services and depreciation;

(g) include estimates of projected debt service to finance the capital program approved by the Capital Program Review Board or any amendment proposed by the MTA to the approved capital program;

(h) include estimates of projected debt service to finance capital needs that extend beyond the approved capital program or any amendment proposed by the MTA to the approved capital program;

(i) include estimates of projected debt service for all other capital projects, such as projects for the Triborough Bridge and Tunnel Authority, to be funded during the plan period in whole or in part by borrowings;

(j) identify any planned transactions that would shift resources, from any source, from one year to another, and the amount of any reserves;

(k) except in the case of the Triborough Bridge and Tunnel Authority, include a corresponding cash budget and plan, and identify all cash adjustments, in excess of $500,000, including but not limited to debt service, taxes and government subsidies; and

(l) be accompanied by a certification by the executive director of the MTA to the effect that, to the best of their knowledge and belief after reasonable inquiry, the budget or plan, as the case may be, is based on reasonable assumptions and methods of estimation and that the requirements of sections 202.3 and 202.4 of this Part have been satisfied.

2 CRR-NY 202.4 Supporting documentation {#sec-2-crr-ny-202.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 202.4}

The MTA shall prepare working papers that detail the assumptions and methods of estimation used to calculate all operating and capital budget projections, consistent with prudent budgetary practices. The working papers shall be completed contemporaneously with the release of its budgets and plans and shall include a statement supporting the reasonableness of each estimate, and the underlying information on which the estimate is based, such as actual results from prior years, inflationary trends and economic data, assumptions regarding the cost of future collective bargaining agreements, utilization, demographic and other pertinent data. The MTA also shall prepare and make available for public inspection with the release of its budgets and plans:

(a) a reconciliation that identifies all changes in estimates, in excess of $500,000, from the projections in the previous budget or plan (the reconciliation shall identify changes in operating revenues and receipts, expenses and disbursements, gap-closing programs, collective bargaining costs, staffing levels and other changes as may be necessary);

(b) a projection of the number of employees to be employed by the MTA and each of the MTA agencies covered in the plan, including:

(1) whether the sources of funding such employees' salaries and benefits are reimbursable or nonreimbursable;

(2) numbers of full-time and full-time equivalents; and

(3) functional classification (e.g., operating, maintenance, administrative);

(c) a statement of each revenue-enhancement and cost-reduction initiative that represents a component of any gap-closing program and the annual impact on each revenue and expense category, including the estimated impact on staffing, whether any positions to be eliminated are vacant or filled and whether the reduction will occur through attrition, layoff or other action;

(d) a statement of the source and amount of any nonrecurring receipt or savings in excess of $1,000,000 that is planned for use in any given fiscal year;

(e) in the case of the plan, a debt affordability statement showing the budgetary impact of planned borrowings for each year of the pan consisting of the following:

(1) an estimated debt service schedule for each year of the plan;

(2) the estimated principal amount of each year's borrowings and assumed interest rate(s);

(3) projected debt service for each credit (other than borrowings secured solely by State service contract payments), as a percentage of total pledged revenues; and

(4) cumulative debt service (other than borrowings secured solely by State service contract payments), as a percentage of each of the following:

(i) operating revenues and government subsidies;

(ii) fare and toll revenues; and

(iii) nonreimbursable expenses;

(f) in the case of the plan, a statement of the annual projected capital costs by capital element (e.g., rolling stock and buses) and sources of funding for each year of the plan, and for each capital project, a statement projecting the annual commitment, total project cost, expected date of completion and an estimate of the annual cost for operating and maintaining those capital projects or capital elements that, when placed into service, are expected to have an impact of $1 million or more on the operating budget.

2 CRR-NY 202.5 Monitoring the budget and plan {#sec-2-crr-ny-202.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 202.5}

The MTA shall prepare and make available for public inspection one or more reports on the following:

(a) Within 60 days of the release of the adopted budget and any updates to the budget (except any updates released within 90 days of the close of the current fiscal year):

(1) monthly projections for the current fiscal year of all revenues and expenses, in a format consistent with the budget and plan;

(2) monthly projections for the current fiscal year of all receipts and disbursements, in a format consistent with the budget and plan;

(3) monthly projections for the current fiscal year of staffing for the MTA and each of the MTA agencies, in a format consistent with section 202.4(b) of this Part; and

(4) monthly projections for the current fiscal year of utilization for each of the MTA agencies that operate transportation systems, including bridges and tunnels.

(b) Within 60 days after the close of each month, in a format consistent with the budget and plan:

(1) a comparison of actual revenues and expenses to planned levels for each of the MTA agencies, explaining and quantifying variances that are due to timing or have a budgetary impact;

(2) a comparison of actual receipts and disbursements to planned levels for each of the MTA agencies, explaining and quantifying variances that are due to timing or have a budgetary impact;

(3) a comparison of actual staffing to planned levels for the MTA and each of the MTA agencies, explaining and quantifying variances that are due to timing or have a budgetary impact; and

(4) a comparison of actual utilization to planned levels for each of the MTA agencies that operate transportation systems, including bridges and tunnels, with an explanation of any variance and budgetary impact.

(c) Each quarter, until implemented or rescinded, the status of each gap-closing program with a projected value equal to or greater than $1,000,000 in any given fiscal year including milestones, impact on staffing, current implementation status, actual savings or revenues to date and projected annual savings or revenues in comparison to budget and plan projections. (The MTA, with the consent of the State Comptroller, may limit reporting to the largest initiatives that comprise 90 percent of the value of the agency gap-closing program.)

(d) Each month, transfers to or from the corporate and stabilization accounts, interagency loans and other reserves or accounts.

(e) Each month, the status of capital projects by capital element, including but not limited to commitments, expenditures and completions, and an explanation of material variances from the plan, cost overruns and delays.

2 CRR-NY 202.6 Strategic operation plan {#sec-2-crr-ny-202.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 202.6}

Financial information required to be submitted by the MTA pursuant to paragraphs (d) and (e) of subdivision (1) of section 1269-d of the Public Authorities Law for operating resources and costs shall be presented in a format consistent with the budget and plan.

Part 203 BUDGET AND FINANCIAL PLAN FORMAT, SUPPORTING DOCUMENTATION AND MONITORING—PUBLIC AUTHORITIES

2 CRR-NY 203.1 Purpose {#sec-2-crr-ny-203.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.1}

The purpose of this Part is to set forth specific requirements in connection with the submission and format of, the preparation of supporting documentation for, and the monitoring of, annual budgets and financial plans of the public authorities covered by this Part. All requirements of this Part apply immediately upon the effective date of this Part, except as otherwise consented to by the State Comptroller at the request of individual public authorities, upon good cause shown.

2 CRR-NY 203.2 Applicability {#sec-2-crr-ny-203.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.2}

This Part shall apply to all public authorities and other public corporations created by or existing under any law of the State of New York, including any and all affiliates and subsidiaries of such public authorities or public corporations, other than:

(1) a public authority or other public corporation created pursuant to agreement or compact with another state or with a foreign power, except where the parties to such agreement or compact have consented to the supervision of the authority’s or corporation’s accounts by the State Comptroller;

(2) a local authority as defined in section 2 of the Public Authorities Law.

Notwithstanding the foregoing, this Part shall not apply when the State Comptroller has granted a waiver upon good cause shown. Additionally, the Metropolitan Transportation Authority and its Agencies shall continue to be governed by Part 202 of this Title with the exception that sections 203.4(a)-(e), 203.6(d)-(g), and 203.8(b) and (c) of this Part shall also apply to the Metropolitan Transportation Authority and its agencies; provided, however, that with respect to the Metropolitan Transportation Authority and its agencies, the definitions set forth in Part 202 of this Chapter shall be used for purposes of determining compliance with the applicable provisions of this Part.

2 CRR-NY 203.3 Definitions {#sec-2-crr-ny-203.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.3}

For purposes of this Part:

(a) Affiliate or affiliated with shall mean a corporate body or company controlling, controlled by, or under common control with another corporate body.

(b) Board shall mean the governing board, members of the public authority, board of directors, board of trustees or trustees or other similar governing body as described in the laws, articles of incorporation or corporate by-laws creating and/or governing the authority.

(c) Budget shall mean the proposed and approved budgets, and any amendments or modifications thereto, of the public authority. The budget shall include all the organizations, programs, activities, and functions of the public authority that comprise its accounting entity in accordance with accounting principles generally accepted in the United States of America.

(d) Chief financial officer shall mean the treasurer, chief fiscal officer or other executive level officer directly responsible for overseeing the financial activities of the public authority.

(e) Chief operating officer shall mean the executive director or other executive level officer responsible for overseeing the day-to-day activities of the public authority.

(f) Debt shall mean bonds, notes, contractual financing arrangements, or other evidences of indebtedness issued by the public authority for any purpose.

(g) Financial plan shall mean the budget for the current fiscal year and revenue and expenditure projections, in a format consistent with the budget, for at least the three following years.

(h) Gap shall mean the difference between projected revenues and other financing sources and expenditures and other financing uses for any given fiscal year before proposed management actions that would increase revenues or reduce costs.

(i) Gap-closing program shall mean any combination of management actions that reduce costs or increase revenues that lower a gap in any given fiscal year.

(j) Subsidiary shall mean a corporate body or company:

(1) having more than half of its voting shares owned or held by a public authority or other public corporation covered by this Part; or

(2) having a majority of its directors, trustees or members in common with the directors, trustees or members of a public authority or other public corporation covered by this Part or as designees of a public authority or other public corporation covered by this Part.

2 CRR-NY 203.4 Submission of budgets and financial plans {#sec-2-crr-ny-203.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.4}

(a) All public authorities shall prepare an annual budget and financial plan in accordance with this Part.

(b) The budget and financial plan, and all amendments or modifications thereto, shall be approved by the board prior to the start of the authority’s fiscal year in accordance with applicable statute.

(c) All proposed budgets and financial plans shall be made available for public inspection at least 30 days before consideration for approval by the board.

(d) All approved budgets and financial plans shall be made available for public inspection within seven days after approval by the board. Approved budgets and financial plans shall be submitted to the State Comptroller in accordance with applicable statute, in an electronic format prescribed by the State Comptroller.

(e) For purposes of making budgets and financial plans available for public inspection under subdivisions (c) and (d) of this section, the public authority shall post the budgets and financial plans on its website, and also provide copies for public inspection at its offices.

2 CRR-NY 203.5 Budget and financial plan format {#sec-2-crr-ny-203.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.5}

Each budget and financial plan shall:

(a) be prepared in accordance with accounting principles generally accepted in the United States of America on a modified accrual basis. When an organization, program, activity or function that is reportable under such principles is not included in the budget, the budget shall clearly disclose this exclusion and the associated justification;

(b) be based on reasonable assumptions and methods of estimation;

(c) be organized in a manner consistent with the authority's programmatic and functional activities;

(d) include detailed estimates of projected operating revenues and other sources of funding;

(e) include detailed estimates of personal service expenses related to employees (e.g., salary and wage costs, overtime, health insurance and pension costs) and personal service contracts with outside contractors;

(f) include detailed estimates of non-personal service operating expenses (e.g., materials and supplies, contracts, and rentals);

(g) include estimates of projected debt service expenditures; and

(h) include a corresponding cash budget and financial plan, and identify all material cash adjustments.

2 CRR-NY 203.6 Budget and financial plan presentation {#sec-2-crr-ny-203.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.6}

Each budget or financial plan shall be accompanied by:

(a) an explanation of the public authority's relationship with the unit or units of government, if any, on whose behalf or benefit the authority was established;

(b) a description of the budget process, including the dates of key budget decisions;

(c) a description of the principal budget assumptions, including sources of revenues, staffing and future collective bargaining costs, and programmatic goals;

(d) a self-assessment of budgetary risks;

(e) a revised forecast of the current year's budget;

(f) a reconciliation that identifies all changes in estimates from the projections in the previously approved budget or plan;

(g) a statement of the last completed fiscal year's actual financial performance in categories consistent with the proposed budget or financial plan;

(h) a projection of the number of employees, including sources of funding, the numbers of full-time and full-time equivalents, and functional classifications;

(i) a statement of each revenue-enhancement and cost-reduction initiative that represents a component of any gap-closing program and the annual impact on revenues, expenses and staffing;

(j) a statement of the source and amount of any material non-recurring resource that is planned for use in any given fiscal year;

(k) a statement of any transactions that shift material resources from one year to another and the amount of any reserves;

(l) a statement of any transaction transferring funds to other state or local authorities or agencies or to any non-governmental organization;

(m) a statement of borrowed debt projected to be outstanding at the end of each fiscal year covered by the budget or financial plan; the planned use or purpose of debt issuances; scheduled debt service payments for both issued and proposed debt; the principal amount of proposed debt and assumed interest rate(s); debt service for each issuance as a percentage of total pledged revenues, listed by type or category of pledged revenues; cumulative debt service as a percentage of available revenues; and amount of debt that can be issued until legal limits are met;

(n) a statement of the annual projected capital cost broken down by category and sources of funding, and for each capital project, estimates of the annual commitment, total project cost, expected date of completion and the annual cost for operating and maintaining those capital projects or capital categories that, when placed into service, are expected to have a material impact on the operating budget;

(o) if one has been completed, a needs assessment outlining capital project requirements the authority needs to maintain good repair of its assets.

2 CRR-NY 203.7 Supporting documentation {#sec-2-crr-ny-203.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.7}

The public authority shall prepare working papers that detail the assumptions and methods of estimation used to calculate all operating and capital budget projections, consistent with prudent budgetary practices. The working papers shall be completed contemporaneously with the release of the budget or plan and shall include a statement supporting the reasonableness of each estimate, and the underlying information on which the estimate is based, such as actual results from prior years, inflationary trends and economic data, assumptions regarding the cost of future collective bargaining agreements, utilization, demographic and other pertinent data.

2 CRR-NY 203.8 Reporting {#sec-2-crr-ny-203.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.8}

The chief financial officer shall:

(a) provide to the board a written mid-year update on the budget and associated financial plan and should present at least quarterly updates to the board on the status of actual revenues and expenses compared to annual budget targets. The mid-year report shall explain and quantify material variances that are due to timing or have a budgetary impact, and include an assessment of the annual impact. The report also shall include the status of capital projects, including but not limited to, commitments, expenditures and completions, and an explanation of material cost overruns and delays;

(b) report publicly not later than 90 days after the close of each fiscal year on actual versus budgeted results; and

(c) inform the State Comptroller in an electronic format prescribed by the Comptroller, at any point during the fiscal year when the chief financial officer learns of the potential financial impact of any development that would materially affect the budget or financial plan, in whole or in part.

2 CRR-NY 203.9 Certification {#sec-2-crr-ny-203.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.9}

Included in each budget and financial plan shall be a certification by the chief operating officer to the effect that, to the best of their knowledge and belief after reasonable inquiry, the budget or plan, as the case may be, is based on reasonable assumptions and methods of estimation and that these regulations have been satisfied. The certification shall be presented to the board and shall be released to the public along with the budget or financial plan, as the case may be.

2 CRR-NY 203.10 [Repealed] {#sec-2-crr-ny-203.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 203.10}

Part 204 ACCOUNTING AND REPORTING FOR PUBLIC AUTHORITIES THAT ISSUE STATE-SUPPORTED DEBT

2 CRR-NY 204.1 Purpose {#sec-2-crr-ny-204.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 204.1}

The purpose of this Part is to set forth requirements in connection with the preparation, submission, and formatting of data relating to the accounting and reporting of debt (as defined below) for State financial reporting purposes.

2 CRR-NY 204.2 Applicability {#sec-2-crr-ny-204.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 204.2}

This Part shall apply to every issuer of debt (as defined below) other than the State Comptroller. All requirements of this Part apply immediately upon the effective date of this Part, except as otherwise consented to by the State Comptroller upon timely request and for good cause shown. The requirements of this Part shall only be satisfied by a submission in accordance with section 204.7 of this Part.

2 CRR-NY 204.3 Definitions {#sec-2-crr-ny-204.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 204.3}

(a) Accretion shall refer to the process by which a discount is earned over the life of a zero coupon or capital appreciation bond.

(b) Accrued interest shall mean the amount of interest earned by the bondholder since the last payment date.

(c) Arbitrage rebate shall mean a payment, including a late payment, to the United States Treasury for earnings from proceeds of tax-exempt bonds in excess of federally allowed limitations.

(d) Date of issuance shall mean the earliest date by which either securities were delivered to the purchaser or the issuer received payment of proceeds from the issuance of debt.

(e) Debt shall mean all State-supported debt as defined in section 67-a of the State Finance Law or any other debt instrument, including lines of credit, loans and other financing arrangements, issued for State purposes and for which the State is the primary beneficiary of the proceeds of such borrowing, and for which the State is the obligated party required to make principle, interest or other installment payments to repay such debt.

(f) Debt service account shall mean an account or accounts used for the payment of principal and interest on securities and also payments made or received under swap agreements.

(g) Debt service reserves shall mean any cash and investments in a fund that has been established to pay future debt service.

(h) Effective interest rate shall mean the rate that, when used to discount the debt service requirements on new debt, produces a present value equal to the proceeds of such new debt (including accrued interest) net of any premiums or discounts and any underwriting spread and issuance costs that are not recoverable through escrow account earnings.

(i) Fiscal year shall mean the State fiscal year.

(j) Issuance costs include all costs incurred to issue debt, including, but not limited to, underwriters' discount, insurance costs (net of rebates from refunded debt, if any), financing costs (including, but not limited to, rating agency fees, financial advisor fees, swap advisor fees, and State bond issuance fees), and other related costs (including, but not limited to, printing, legal, accounting, administrative, and trustee expenses).

(k) Market discount shall mean the amount by which the gross proceeds received for securities issued was less than their par amount.

(l) Market premium shall mean the original issue premium received in excess of the par amount of securities.

(m) Par amount shall mean the face amount of a security at which it will be redeemed at maturity except in the case of zero coupon and capital appreciation bonds in which case it shall mean original issue value equal to the amount received at issuance.

(n) Project proceeds account shall mean the account or accounts related to a specific statutory debt authorization established to receive and hold proceeds from a debt issue, exclusive of issuance costs and payments on refunded debt, if any.

(o) State bond issuance charge shall mean any fee paid upon the issuance of debt collected pursuant to section 2976 of the Public Authorities Law.

(p) Statutory purpose shall mean the purpose for which debt may be issued as established in State statute.

(q) State-reported debt shall mean debt excluding debt issued by:

(1) an issuer:

(i) for the State University of New York (other than community colleges); or

(ii) for the senior colleges of the City University of New York; or

(2) by the State Comptroller.

(r) Swap agreement shall mean an interest rate exchange or similar agreement as defined by section 69(d) of the State Finance Law. Without limiting such definition, swap agreements shall include derivative and hedge transactions such as "swaps," "interest rate locks," "caps," "floors," "collars," and similar arrangements which affect, or have the potential of affecting, the issuer's cost of borrowing.

2 CRR-NY 204.4 Submission of documents and information after the issuance of debt {#sec-2-crr-ny-204.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 204.4}

Within 15 days after the date of issuance, the issuer of debt shall furnish to the State Comptroller the following information:

(a) a copy of the official statement for the debt issuance in electronic document form;

(b) a schedule of sources and uses of proceeds associated with the debt that clearly sets forth:

(1) any market premium or market discount;

(2) the amount of debt proceeds to be used to pay issuance costs excluding underwriters' discount and State bond issuance charges;

(3) the amount of proceeds to be used to pay State bond issuance charges;

(4) the amount of proceeds to be used to pay the underwriters' discount;

(5) the amount of proceeds to be deposited to the project proceeds account;

(6) the amount of proceeds to be deposited to a reserve fund that could be used to pay debt service; and

(7) the amount of proceeds to be deposited to an account that will be used to make debt service payments;

(c) a schedule of future debt service payments associated with the debt, in electronic format, including:

(1) future principal payments by payment date;

(2) future interest expected to be paid by payment date at rates in effect on the date of issuance;

(3) future swap agreement receipts expected to be received by anticipated receipt date based upon rates in effect on the date of issuance;

(4) future swap agreement payments expected to be paid by payment date based upon rates in effect on the date of issuance; and

(5) an estimate of any future fees or expenses expected to be incurred in relation to the debt issuance.

(d) additionally, for refunded debt, a schedule of future cash flows associated with the debt, in electronic format, including:

(1) the source and amount of funds (other than proceeds of the refunding debt issue) to be used in the refunding;

(2) the par amount of bonds refunded, by payment date;

(3) the refunded debt service, by payment date;

(4) the amount of the deposit to the escrow agent for payment of the refunded debt;

(5) the refunding debt service, by payment date;

(6) the annual gross cash flow savings or dis-savings as the difference between the refunding and refunded debt service; and

(7) the present value savings of the cash flow savings discounted at the effective interest rate and adjusted by deducting any funds used in the refunding that were not obtained from proceeds of the refunding debt issue.

2 CRR-NY 204.5 Submission of required information after the end of each State fiscal year quarter {#sec-2-crr-ny-204.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 204.5}

Within 25 days after the completion of each State fiscal year quarter, each issuer of debt will submit to the State Comptroller, in electronic format, the following information for all debt the issuer is statutorily authorized to issue as of the end of that State fiscal year quarter, in each case, discretely presented for each separate statutory authorization:

(a) the amount of debt authorized to be issued;

(b) the cumulative amount of debt that has been issued;

(c) the total par amount of bonds outstanding;

(d) the balance of unspent State-reported debt proceeds retained;

(e) the amount of State-reported debt proceeds disbursed during the calendar quarter;

(f) the balance of each State-reported debt service account.

2 CRR-NY 204.6 Submission of required information after the end of each State fiscal year {#sec-2-crr-ny-204.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 204.6}

Each issuer of debt shall within 45 days of the end of the State fiscal year submit to the State Comptroller, in electronic format, the following additional information for each of its outstanding debt issues (as of and for the State fiscal year just ended), in each case, discretely presented for each separate statutory authorization:

(a) the amount of accrued interest on each State-reported debt issue;

(b) all changes occurring during the past twelve months to the balance of unearned debt accretion for State-reported debt;

(c) the amount of debt service paid during the prior 12 months from investment earnings administered by the issuer of State-reported debt;

(d) a schedule of future minimum debt service based upon rates in effect at the end of the State fiscal year, discretely presenting the principal, interest, swap agreement receipts and swap agreement payments by payment date;

(e) a schedule of future minimum debt service based upon rates in effect at the end of the State fiscal year, discretely presenting the principal, interest, swap agreement receipts and swap agreement payments by payment date for debt related to the State University of New York (other than community colleges);

(f) a schedule of future minimum debt service based upon rates in effect at the end of the State fiscal year, discretely presenting the principal, interest, swap agreement receipts and swap agreement payments by payment for debt related to senior colleges of the City University of New York;

(g) the highest and lowest fixed rate of interest applicable to all State-reported debt outstanding;

(h) information relating to any arbitrage rebate liability applicable to all State-reported debt:

(1) the actual amount of arbitrage rebate liability paid during the year;

(2) the actual or estimated amount of arbitrage rebate liability due within one year;

(3) the actual or estimated amount of arbitrage rebate liability due beyond one year;

(4) any changes in estimated rebate liabilities during the year;

(5) the amount of any arbitrage rebate refunded during the year; and

(6) the amount of any arbitrage rebate refund anticipated.

(i) The following information related to cash and investments held at the end of the State's fiscal year related to debt service reserve accounts, debt service accounts, and debt proceeds accounts for State-reported debt, in each case, discretely presented for each separate statutory authorization and account type:

(1) a copy of the investment policies that have been formally adopted for investments related to debt;

(2) a description of the type of investment;

(3) the credit rating on investments, excluding investments in obligations of the U.S. Government or guaranteed by the U.S. Government;

(4) the unamortized purchase cost of the investment;

(5) the purchase date of the investment;

(6) the maturity date of the investment;

(7) the market value of the investment;

(8) the name in which the investment is held;

(9) an indication if the investment is held by a custodial agent;

(10) any uninvested cash being held.

(j) The following information related to investments fair market value at the end of the State’s fiscal year related to debt service reserve accounts, debt service accounts, and debt proceeds accounts for State-reported debt, in each case, discretely presented for each separate statutory authorization and account type;

(1) an indication of the valuation techniques used, whether market, cost or income approach; and

(2) which level of inputs, level 1, 2, or 3, of the fair value hierarchy the fair market value of the investments can be observed.

(k) The following information related to investments liquidated during the State's fiscal year related to debt service reserve accounts, debt service accounts, and debt proceeds accounts for State-reported debt, in each case, discretely presented for each separate statutory authorization and account type:

(1) a description of the type of investment that matured, was sold or liquidated;

(2) the original unamortized purchase cost of the investment;

(3) the purchase date of the investment;

(4) the date the investment was sold, matured or was otherwise liquidated;

(5) the proceeds received for the investment.

(l) A schedule of all debt that has been defeased, whether by a legal or economic defeasance, by depositing cash or securities issued by the U.S. Government or guaranteed by the U.S. Government in an irrevocable trust but which remained legally outstanding. In addition to:

(1) a general description of the transactions including the amount of defeased debt;

(2) a letter of instruction informing the trustee of the authority’s decision to defease bonds;

(3) amount of any remaining prepaid insurance related to defeased debt; and

(4) risk of substitution for all in-substance defeasances.

(m) Additional debt disclosures, including:

(1) a description of any direct borrowings and/or direct placements including outstanding amount;

(2) amount of unused lines of credit;

(3) assets pledged as collateral for debt;

(4) terms specified in debt agreements related to significant:

(i) events of default with finance-related consequences;

(ii) termination events with finance-related consequences; and

(iii) subjective acceleration clauses.

2 CRR-NY 204.7 Requirements applicable to submission of all information and other general provisions {#sec-2-crr-ny-204.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 204.7}

The following provisions are applicable to all documents, data, and information required to be submitted to the State Comptroller pursuant to this Part:

(a) All required information must be submitted in an electronic format prescribed by the Bureau of Financial Reporting, Office of the State Comptroller, to an internet or e-mail address specified by the Bureau of Financial Reporting.

(b) A public authority may apply for a waiver of any requirement set forth in this Part. A request submitted in an electronic format shall be submitted to an internet or e-mail address specified by the Bureau of Financial Reporting of the Office of the State Comptroller. A request submitted in a non-electronic format should be addressed to the Bureau of Financial Reporting, Office of the State Comptroller, 110 State Street, Albany, NY 12236-0001. A request from a reporting requirement should be submitted not later than the date on which the report is due. No waiver from a requirement established by law shall be granted. A waiver from a requirement established solely by this Part may be granted for reasonable cause unless such a waiver would interfere with the fulfillment of a duty of the State Comptroller. The Bureau of Financial Reporting shall transmit a written determination, in electronic format, of a waiver request to the public authority requesting the waiver. A determination approving a waiver shall specify:

(1) the scope of the waiver;

(2) the reason therefor; and

(3) the new reporting date, if the waiver involved the postponement of a reporting date otherwise required by this Part.

(c) All references to number of days in these requirements shall be interpreted to mean calendar days.

Part 205 SECURITY FOR DEPOSITS OF MONIES OF THE NEW YORK STATE THRUWAY AUTHORITY

2 CRR-NY 205.1 Security for deposits {#sec-2-crr-ny-205.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 205.1}

All deposits of monies of the New York State Thruway Authority, from whatever source derived, shall be secured by obligations of the United States or of the State of New York of a market value equal at all times to the amount of the deposit.

2 CRR-NY 205.2 Effective date {#sec-2-crr-ny-205.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 205.2}

This regulation shall take effect immediately and shall be filed in the Department of Audit and Control, and a duplicate original copy hereof shall be filed in the Department of State.

2 CRR-NY 205.3 to 205.9 to 205.9 [Repealed] {#sec-2-crr-ny-205.3-to-205.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 205.3 to 205.9}

Part 206 COMPTROLLER APPROVAL OF CONTRACTS MADE BY STATE AUTHORITIES

2 CRR-NY 206.1 Purpose {#sec-2-crr-ny-206.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 206.1}

(a) The purpose of this Part is to set forth:

(1) the standards for the Comptroller's determination of State authority contracts and contract amendments subject to the Comptroller's approval;

(2) the criteria for the Comptroller's approval of such contracts and contract amendments;

(3) the responsibilities of State authorities with respect to the filing of exempt contracts and exempt contract amendments, certain eligible contracts and certain eligible contract amendments as defined in this Part; and

(4) the procedural requirements for overall compliance with section 2879-a of the Public Authorities Law.

(b) Nothing contained in this Part shall diminish, or in any way adversely affect, the Comptroller's existing authority to approve State authority contracts where such approval is otherwise required, or provided for, by law or by resolution of a State authority.

2 CRR-NY 206.2 Definitions {#sec-2-crr-ny-206.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 206.2}

For purposes of this Part:

(a) Competitive procurement shall mean a procurement where a State authority has:

(1) (i) published notice of the contract opportunity consistent with any statutory publication requirement including, but not limited to, article 4-c of the Economic Development Law, or, where there is no express statutory requirement for published notice, in the procurement opportunities newsletter or another newspaper, journal or periodical which is reasonably designed to give notice of the contract opportunity to all offerers capable of providing the requisite product, service or work to be performed; and further that such notice, wherever published, is reasonably designed to solicit bids, proposals or offers from all qualified offerers in response thereto; or

(ii) provided notice of the contract opportunity by soliciting bids, proposals or offers through some other method expressly authorized by statute, where such statute has deemed such other method to be competitive; and

(iii) awarded on the basis of a balanced and fair evaluation and selection method developed before the receipt of offers or bids; that is rational, objective and utilized a quantified scoring system, which evaluated all relevant factors such as cost (revenue), technical merits, or qualifications, and was applied equally to all qualified offerers.

(b) Contract shall mean any written agreement including, but not limited to: any agreement for the acquisition or sale of goods or services of any kind; public work, construction, alterations, or improvements to public facilities; grant contracts; employment contracts; revenue or concession contracts; the exchange of personal or real property; the exchange of services; or any combination thereof. For purposes of this Part, a purchase order shall be deemed to be a contract unless the purchase order is issued pursuant to:

(1) an existing State authority contract; or

(2) an Office of General Services centralized contract where neither the contract nor the relevant procurement guidelines require a mini-bid or similar competitive process.

(c) Eligible contract shall mean any contract executed by a State authority on or after March 1, 2010, other than an exempt contract, where the aggregate consideration proposed for exchange (including all reasonably anticipated renewals and amendments) may reasonably be valued in excess of $1 million and such contract either:

(1) shall be paid in whole or in part with monies appropriated by the State, either directly to a State authority or to a State agency which pays the money to a State authority; or

(2) was or shall be awarded on a single source basis, a sole source basis or pursuant to any other method of procurement that is not a competitive procurement. For purposes of determining the value of a contract that has no term or is perpetual in nature, the contract shall be deemed to have a term of five years.

(d) Eligible contract amendment shall mean:

(1) any modification to an eligible contract; or

(2) any modification other than an exempt contract amendment to a contract executed by a State authority where such modification was executed on or after March 1, 2010, and where the aggregate consideration under the contract as amended may reasonably be valued in excess of $1 million and:

(i) the contract as amended will be paid in whole or in part with monies appropriated by the State, either directly to a State authority or to a State agency which pays the money to a State authority; or

(ii) the contract was originally awarded on a noncompetitive basis; or

(iii) the contract was originally awarded on the basis of a competitive procurement, but the modification was neither contemplated nor provided for in the solicitation for such competitive procurement.

(e) Executed or execution shall mean that the contract or contract amendment has been signed as required by the contractor and the State authority.

(f) Exempt contract shall mean any contract or contract amendment, executed by a State authority on or after March 1, 2010, that would otherwise be an eligible contract or eligible contract amendment, but is exempt pursuant to subdivision 3 of section 2879-a of the Public Authorities Law because it is:

(1) for the issuance of commercial paper or bonded indebtedness including, but not limited to: bond purchase agreements, standby bond purchase agreements, letters of credit, firm remarketing agreements, forward purchase agreements, revolving credit agreements and other similar liquidity facility agreements, broker-dealer agreements, remarketing agent agreements, auction agent agreements, interest rate swaps and other similar hedging agreements; provided, however, that this category of exempt contracts shall not include:

(i) contracts with the State providing for the payment of debt service subject to an appropriation;

(ii) professional or banking services agreements such as bond counsel agreements, financial advisor agreements and trustee agreements, and

(iii) custodial service agreements;

(2) entered into by an entity established under article 10-c of the Public Authorities Law and is for:

(i) projects approved by the Department of Health or the Public Health Council in accordance with article 28, 36 or 40 of the Public Health Law or article 7 of the Social Services Law;

(ii) projects approved by the Office of Mental Health, the Office for People with Disabilities, or the Office of Alcoholism and Substance Abuse Services in accordance with article 16, 31 or 32 of the Mental Hygiene Law;

(iii) services, affiliations or joint ventures for the provision or administration of health care services or scientific research;

(iv) payment for direct health care services or goods used in the provision of health care services; or

(v) participation in group purchasing arrangements;

(3) for the procurement of goods, services or both goods and services to meet emergencies arising from unforeseen causes or to effect repairs to critical infrastructure that are necessary to avoid a delay in the delivery of critical services that could compromise the public welfare;

(4) for the purchase or sale of energy, electricity or ancillary services made by an authority on a recognized market for the goods, services or commodities in question in accordance with standard terms and conditions of purchase or sale at a market price;

(5) for the purchase, sale or delivery of power or energy, fuel, costs and services ancillary thereto, or financial products related thereto, with a term of less than five years; or

(6) for the sale or delivery of power or energy and costs and services ancillary thereto for economic development purposes pursuant to title one of article 5 of the Public Authorities Law or article 6 of the Economic Development Law.

(g) Exempt contract amendment shall mean a modification to any contract where such modification would otherwise be an eligible contract amendment, but is for an exempt purpose as defined in paragraphs (f)(1) through (6) of this section.

(h) Monies appropriated by the State shall mean:

(1) monies from the State treasury or any of its funds, or any of the funds under its management pursuant to law; or

(2) the proceeds of bonds, where such bonds shall be paid in whole or in part with monies from the State treasury or any of its funds, or any of the funds under its management pursuant to law.

(i) Procurement record shall mean documentation of the decisions made and the approach taken by the State authority in the procurement process.

(j) Single source shall mean a procurement in which although two or more offerers can supply the required goods or services, the State authority, upon written findings setting forth the material and substantial reasons therefore, may award a contract or amendment to a contract to one offerer over the other.

(k) Sole source shall mean a procurement in which only one offerer is capable of supplying the required goods or services.

(l) State authority shall mean a public authority or public benefit corporation created by or existing under any law of the State of New York, other than an interstate or international authority or public benefit corporation, including subsidiaries of such public authority or public benefit corporation, where one or more members serve by virtue of holding a civil office of the State, or where one or more members are appointed by the governor except where all such appointments by the governor occur specifically upon the recommendation of a local government official.

(m) Subsidiary shall mean a corporate body or company:

(1) having more than half of its voting shares owned or held by a State authority; or

(2) having a majority of its directors, trustees or members in common with the directors, trustees or members of a State authority or as designees of a State authority.

(n) Written determination shall mean notification provided in writing either in paper or electronic format of the Comptroller's approval or disapproval of any contract submitted for approval by a State authority.

(o) Written notice shall mean notification provided in writing either in paper or electronic format.

2 CRR-NY 206.3 Annual reporting requirement for eligible contracts and eligible contract amendments {#sec-2-crr-ny-206.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 206.3}

(a) No later than 30 days before the end of the State authority's fiscal year, every State authority shall submit to the Office of the State Comptroller a report, in such form as prescribed by the Comptroller, which includes a description of every eligible contract and eligible contract amendment which the State authority reasonably anticipates entering into in the following fiscal year; provided, however, that the following eligible contract amendments shall not be included in such reports:

(1) construction contract change orders that do not exceed $100,000; and

(2) agreements to extend the duration of a contract for which there is no change in contract amount.

(b) The description for each anticipated eligible contract or eligible contract amendment specified in the report shall include, but not be limited to, the following elements:

(1) the purpose of the eligible contract or eligible contract amendment;

(2) the anticipated value of the eligible contract or eligible contract amendment;

(3) whether it is anticipated that the contract will be awarded on a competitive basis, and, if not, the basis upon which the contract will be awarded;

(4) the anticipated date for the release of the solicitation, if applicable, or execution of the eligible contract or eligible contract amendment; and

(5) the source of funding for the eligible contract or eligible contract amendment.

(c)

(1) the State authority shall provide written notice to the Office of the State Comptroller of:

(i) any eligible contract or eligible contract amendment not previously reported, together with all information required by subdivision (b) of this section;

(ii) any deletions from the list of eligible contracts or eligible contract amendments previously reported; or

(iii) any significant change in the information provided in the reports submitted by the State authority pursuant to this section. For purposes of this paragraph, a change shall be deemed significant if it affects the method of award of a contract or increases the anticipated value of a contract or contract amendment by more than 25 percent.

(2) Such written notice shall be submitted no later than 30 days after the State authority has identified the need for such addition or significant change. However, such notice must be given at least 10 days prior to the release of a solicitation related to such addition or significant change in the event of a competitive procurement, or to the execution of a contract related to such addition or significant change in the event of a noncompetitive award.

(d) The Comptroller may waive the requirements of this section for any State authority that submits eligible contracts to the Comptroller for approval pursuant to an existing law or resolution.

2 CRR-NY 206.4 Determination of eligible contracts and eligible contract amendments subject to the Comptroller's approval {#sec-2-crr-ny-206.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 206.4}

(a)

(1) The Comptroller shall periodically determine which eligible contracts and eligible contract amendments shall be subject to the Comptroller's approval.

(2) Once the Comptroller has determined that any eligible contract, eligible contract amendment, category of eligible contracts or category of eligible contract amendments shall be subject to approval by the Comptroller, the Comptroller shall provide written notice of such determination to the affected State authorities as soon as practicable.

(3) Such written notice shall include instructions for submitting any such contracts or contract amendments and the period of time during which the State authority is required to submit the contracts and/or contract amendments.

(4) Where a State authority that is subject to the publication requirements contained in article 4-c of the Economic Development Law believes that an eligible contract, described in a written notice provided by the Comptroller pursuant to this section, is exempt from such requirements under paragraph (a) of subdivision 1 of section 144 of the Economic Development Law, the State authority must obtain the Comptroller's approval for such exemption.

(b) The Comptroller's determination of which eligible contracts or eligible contract amendments shall be subject to their approval may include, but shall not be limited to, consideration of one or more the following criteria:

(1) number and dollar value of contracts entered into, or anticipated to be entered into, by the State authority;

(2) past practices of the State authority with respect to its contracting or procurement process as identified by audits performed by regulating bodies including, but not limited to, the Office of the State Comptroller;

(3) the types of contracts entered into by the State authority;

(4) the presence or absence of competition in the procurement process;

(5) the level of financial risk posed by the State authority's contracts;

(6) any potential liability for the State posed by the State authority's contracts;

(7) the content and adequacy of the State authority's existing procurement guidelines; and

(8) the State authority's compliance with the provisions in section 206.7 of this Part regarding the filing of exempt contracts, exempt contract amendments, certain eligible contracts and certain eligible contract amendments.

2 CRR-NY 206.5 Submission of eligible contracts or eligible contract amendments subject to the Comptroller's approval {#sec-2-crr-ny-206.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 206.5}

(a) Every State authority shall, upon execution of any eligible contract or eligible contract amendment described in a written notice issued pursuant to section 206.4(a) of this Part, promptly submit to the Comptroller for approval each such eligible contract or eligible contract amendment for the duration stated in the notice, including all attachments and documents incorporated by reference therein, except where the Comptroller has determined that a complete copy is unnecessary and has so notified the State authority, along with the complete procurement record. A copy of all such eligible contracts and eligible contract amendments shall be retained on file with the Office of the State Comptroller. Such submission should be made in such form and manner as may be prescribed by the Comptroller. The Comptroller also reserves the right to request submission of additional materials that are relevant to the Comptroller's review and approval.

(b) For each eligible contract or eligible contract amendment described in a written notice issued pursuant to section 206.4(a) of this Part, the State authority shall include a certification in the procurement record that it has undertaken an affirmative review of the responsibility of the contractor and significant subcontractors known at the time of the contract award. Such review shall be designed to provide reasonable assurances that the contractor and significant subcontractors are responsible and shall be documented in the procurement record. For purposes of this paragraph, a subcontractor shall be deemed to be significant if:

(1) the subcontractor's qualifications are a material factor in the award; or

(2) the value of the subcontract will equal or exceed an amount as the Comptroller may from time-to-time determine, to be reasonable.

(c) Where the Comptroller has provided written notice pursuant to section 206.4(a) of this Part, the State authority shall include in each eligible contract or eligible contract amendment described in such notice a clause providing that the contract or contract amendment is subject to the Comptroller's approval before such contract or contract amendment may become valid and enforceable.

(d) The Comptroller shall have 90 days to issue a written determination with respect to the approval or disapproval of each eligible contract or eligible contract amendment submitted for approval. Such 90 day period shall begin upon receipt of the eligible contract or eligible contract amendment, including all required documentation, by the Office of the State Comptroller. No eligible contract or eligible contract amendment submitted to the Comptroller shall become valid and enforceable until such eligible contract or eligible contract amendment has been approved by the Comptroller; provided, however, that if the Comptroller has not issued a written determination within the 90 day period, such eligible contract or eligible contract amendment shall become valid and enforceable without approval by the Comptroller. In the event that the State authority resubmits an eligible contract or eligible contract amendment previously disapproved by the Comptroller, the Comptroller shall have 90 days from the receipt of such resubmitted eligible contract or eligible contract amendment to issue a written determination.

(e) The Comptroller reserves the right to require State authorities to transmit all or part of the procurement record electronically according to standards developed by the Comptroller.

2 CRR-NY 206.6 Criteria for approval of an eligible contract or eligible contract amendment {#sec-2-crr-ny-206.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 206.6}

The Comptroller's determination as to whether to approve an eligible contract or eligible contract amendment submitted for approval shall include, but not be limited to, consideration of the following criteria:

(a) for all eligible contracts and eligible contract amendments:

(1) compliance with all applicable laws;

(2) the responsibility of the proposed contractor;

(3) the reasonableness of the State authority's procurement procedures and, if applicable, compliance with such procedures;

(4) the reasonableness of the result;

(5) whether the contract contains a description of the scope of services, a specified term with a commencement and end date (except in the case of properly executed purchase orders) and is otherwise reasonable and acceptable as to form; and

(6) whether the terms of the agreement are reasonable and in the best interests of the authority;

(b) for single source and sole source contracts, or any eligible contract or eligible contract amendment awarded pursuant to any other method of procurement that is not a competitive procurement:

(1) the justification for not utilizing a competitive procurement; and

(2) the reasonableness of the selection of the contractor, the cost and the terms of the eligible contract or eligible contract amendment. The procurement record for such eligible contracts or eligible contract amendments shall include: the justification for not using a competitive procurement; the basis for selecting the contractor, including the alternatives considered; and the basis upon which the State authority determined the cost was reasonable; and

(c) for competitive procurements:

(1) the adequacy of the efforts made to provide notice of the contract opportunity;

(2) the reasonableness of the product specifications, requirements or work to be performed;

(3) the reasonableness of the methodology for evaluating bids, proposals or other offers; and

(4) the State authority's fair application of the established methodology for evaluating bids, proposals or other offers. The procurement record for competitive contracts shall demonstrate a competitive field by providing, at a minimum, a clear statement of the required specifications or work to be performed, a fair and equal opportunity for offerers to submit responsive offers and a balanced and fair method of evaluation and selection.

2 CRR-NY 206.7 Filing requirements for exempt contracts, exempt contract amendments, certain eligible contracts and certain eligible contract amendments {#sec-2-crr-ny-206.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 206.7}

(a)

(1) A State authority shall file with the Office of the State Comptroller:

(i) a copy of any exempt contract;

(ii) a copy of any exempt contract amendment; and

(iii) an explanation of why such contract or contract amendment is exempt from the Comptroller's approval.

(2) When an exempt contract or an exempt contract amendment is executed in order to meet an emergency, the State authority shall document in the explanation the nature of the emergency giving rise to the procurement.

(3) Copies of such exempt contracts, exempt contract amendments and the related explanation shall be filed within 60 day after the execution of such exempt contract or exempt contract amendment.

(b)

(1) A State authority shall also file with the Office of the State Comptroller a copy of any eligible contract or eligible contract amendment entered into by the State authority for which the Comptroller has not provided notice pursuant to section 206.4(a) of this Part.

(2) Copies of such eligible contracts or eligible contract amendments executed on or after the date of the adoption of this Part shall be filed within 60 days after such execution.

(c) The filing of any contracts or contract amendments pursuant to this section shall be made in such form and manner as may be prescribed by the Comptroller. In addition, where an eligible contract amendment or an exempt contract amendment filed pursuant to this section modifies a contract that was not previously filed with the Office of the State Comptroller, the State authority shall, at the Comptroller's request, provide a copy of the original contract and any prior amendments thereto. A State authority should file a complete copy of any contract or contract amendment pursuant to this section, including all attachments and documents incorporated by reference therein, except where the Comptroller has determined that a complete copy is unnecessary, is not legally required, and has so notified the State authority.

2 CRR-NY 206.8 Approval of contracts made by MTA and NYCTA {#sec-2-crr-ny-206.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 206.8}

(a) For purposes of this section:

(1) MTA shall mean the Metropolitan Transportation Authority created under section 1263 of the Public Authorities Law, including any subsidiaries of MTA.

(2) NYCTA shall mean the New York City Transit Authority created under section 1201 of the Public Authorities Law, including any of subsidiaries of NYCTA.

(b) Notwithstanding the provisions of section 206.4(a)(1), (2) of this Part, the Comptroller shall periodically determine which MTA and NYCTA eligible contracts and eligible contract amendments shall be subject to the Comptroller's approval and the Comptroller shall provide written notice of such determination to MTA or NYCTA, as applicable, within 30 days of the Comptroller having received written notice of such eligible contract or eligible contract amendment either in the annual report specified in section 206.3 of this Part or any revised annual report issued by MTA or NYCTA.

(c) Notwithstanding the provisions of section 206.5(d) of this Part, the Comptroller shall have 30 days to issue a written determination with respect to the approval or disapproval of each eligible contract or eligible contract amendment submitted by MTA or NYCTA for approval. Such 30 day period shall begin upon receipt of the eligible contract or eligible contract amendment, including all required documentation, by the Office of the State Comptroller. No eligible contract or eligible contract amendment submitted to the Comptroller pursuant to this section shall become valid and enforceable until such eligible contract or eligible contract amendment has been approved by the Comptroller; provided, however, that if the Comptroller has not issued a written determination within such 30 day period, such eligible contract or eligible contract amendment shall become valid and enforceable without approval by the Comptroller. In the event that either MTA or NYCTA resubmits an eligible contract or eligible contract amendment previously disapproved by the Comptroller, the Comptroller shall have 30 days from the receipt of such resubmitted eligible contract or eligible contract amendment to issue a written determination.

(d) Except as amended by this section, all other provisions of this Part shall apply to MTA and NYCTA.

Chapter VI NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM AND NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM

Part 300 INTEREST RATES FOR NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM AND NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM

2 CRR-NY 300.1 Regular interest; and rate of estimated future investment earnings {#sec-2-crr-ny-300.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 300.1}

(a) As used in the Retirement and Social Security Law, the term regular interest shall mean four per centum per annum or the rate of interest recommended by the Retirement System actuary and promulgated by the Comptroller which is in effect on the date of retirement, as provided in paragraph (4) of subdivision (b) of section 11 and paragraph (4) of subdivision (b) of section 311 of the Retirement and Social Security Law, if higher than four per centum. Effective October 15, 2015, the Comptroller has promulgated the regular interest rate as 6.8 per centum per annum.

(b) Effective April 1, 2021 the rate of estimated earnings for the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System shall be 5.9 per centum per annum.

(c) The rates herein fixed shall remain in effect until revised by further order duly promulgated.

2 CRR-NY 300.2 Rate of special interest {#sec-2-crr-ny-300.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 300.2}

The rate of special interest to be credited to the individual annuity savings accounts of persons who are members of the New York State and Local Employees' Retirement System or New York State and Local Police and Fire Retirement System as of the close of each fiscal year, is as follows:

(a) for members earning regular interest of three per centum, pursuant to section 2(26)(b) of the Retirement and Social Security Law, two per centum;

(b) for members earning regular interest of four per centum, pursuant to section 2(26)(b) of the Retirement and Social Security Law, one per centum.

2 CRR-NY 300.3 Interest on additional contributions made by member prior to June 13, 1939 {#sec-2-crr-ny-300.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 300.3}

(a) On and after April 1, 1972, and for the fiscal year ending on March 31, 1973, the interest to be credited on such additional contributions shall be at the rate of five per centum per annum.

(b) The rate of five per centum per annum shall continue to be used in succeeding fiscal years, unless and until amended by a further directive of the Comptroller.

2 CRR-NY 300.4 Interest rate on loans to Tier 1 and 2 members {#sec-2-crr-ny-300.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 300.4}

(a) The rate of interest to be charged on all loans granted on and after April 1, 1970 pursuant to sections 50 and 350 of the Retirement and Social Security Law shall be five per centum per annum.

(b) This rate of interest shall also apply, from April 1, 1970, to unpaid balances of loans outstanding on such date.

(c) The rate of interest fixed herein shall remain in effect until revised by further order.

Part 301 FIVE-YEAR CERTAIN OPTIONS AND TEN-YEAR CERTAIN OPTIONS

2 CRR-NY 301.1 Background {#sec-2-crr-ny-301.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 301.1}

Section 447 of the Retirement and Social Security Law authorizes two new retirement options, each the actuarial equivalent of the retirement allowance without optional modification, for members who join the retirement systems on or after July 1, 1973. The five-year certain option provides payment to the pensioner for life, with guaranteed payment for a minimum of five years following retirement, and the ten-year certain option provides payment to the pensioner for life, with guaranteed payment for a minimum of 10 years following retirement. The following rules establish the terms and conditions for selecting either the five-year certain option or ten-year certain option.

2 CRR-NY 301.2 Election of option {#sec-2-crr-ny-301.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 301.2}

(a) The election of either the five-year certain option or the ten-year certain option shall be made on blanks prepared by the Comptroller for that purpose. Any such election may be made at any time before the first payment on account of any benefit becomes normally due. In the case of retirement on account of disability, the election of either the five-year certain option or the ten-year certain option may be made within 30 days after mailing by the Comptroller of notification of approval of retirement on account of disability. An election of an option may be withdrawn or a new option may be chosen at any time before the first payment on account of any benefit becomes normally due or within 30 days of the mailing of notification by the Comptroller of approval of retirement on account of disability.

(b) An election of either the five-year certain option or the ten-year certain option shall be ineffective until it is filed in the office of the Comptroller.

(c) The Comptroller, for reasonable cause, shall have the power to extend the time for the election of an option, for a period or periods which shall expire not later than 60 days immediately after the effective date of the member's retirement.

2 CRR-NY 301.3 Effective date of option selection {#sec-2-crr-ny-301.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 301.3}

A five year certain option or a 10 year certain option shall not become effective if the member dies before the effective date of his retirement, or within 30 days after the filing in the office of the Comptroller of the application for his retirement.

2 CRR-NY 301.4 Designation of beneficiary {#sec-2-crr-ny-301.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 301.4}

(a) A beneficiary may be designated in accordance with the provisions of sections 90 and 390 of the Retirement and Social Security Law. Each such designation shall be:

(1) Made in writing on a blank provided by the Comptroller for such a purpose;

(2) Ineffective until it is filed in the office of the Comptroller;

(3) Revocable to the extent that a new beneficiary may be designated by the pensioner at any time during the unexpired period of the guaranteed option.

(b) A member electing either the five year certain option or the 10 year certain option may designate a primary beneficiary, or a primary beneficiary with a contingent beneficiary. The designation of multiple beneficiaries for the benefits payable under these options is permitted provided, however, the benefits are divided on a per capita basis (share and share alike of those surviving).

(c) Upon the death of a pensioner, the beneficiary of a five year certain or 10 year certain option shall be paid a monthly allowance, equal to the retirement allowance received by the pensioner, for the unexpired period of the guaranteed option, if any. The beneficiary of a pensioner shall not be eligible for a lump sum payment of the benefit. In the event the pensioner shall have designated his estate as beneficiary, or if his designated beneficiary(ies) shall have predeceased him, or he has failed to designate a beneficiary, the commuted value of the payments for the unexpired period of the guaranteed option, if any, shall be paid in a lump sum to the pensioner's estate or in accordance with the provisions of section 1310 of the Surrogate's Court Procedure Act.

(d) A pensioner's beneficiary who is receiving payments under either the five year certain option or the 10 year certain option may designate a primary beneficiary, or a primary beneficiary with a contingent beneficiary. The beneficiary of the pensioner's beneficiary will receive the commuted value of the payments for the unexpired period of the guaranteed option, if any, as a lump sum payment. In the event the pensioner's beneficiary dies without having designated a beneficiary or his beneficiary has predeceased him or he has designated his estate as beneficiary, a lump sum payment in the amount of the commuted value of the benefit shall be made to either the estate of the pensioner beneficiary, or in accordance with the provisions of section 1310 of the Surrogate's Court Procedure Act.

Part 302 OPTIONAL MEMBERSHIP FOR PROVISIONAL OR TEMPORARY APPOINTEES

2 CRR-NY 302.1 Non-member provisional or temporary appointees {#sec-2-crr-ny-302.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 302.1}

An employee not already a member of the New York State Employees' Retirement System, appointed either provisionally, as authorized in section 65 of the Civil Service Law, or on a temporary basis as authorized in section 64 of the Civil Service Law, to a position in the classified service of civil service, need not become a member of the retirement system.

2 CRR-NY 302.2 Credit for service as a provisional or temporary appointee to be applied on membership {#sec-2-crr-ny-302.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 302.2}

Such provisional or temporary appointee, thereafter becoming a member of the retirement system, may upon application to the retirement system be credited for any such previous provisional or temporary service upon making such contributions therefor as may be required by law.

Part 303 EXTENSION OF TIME FOR PAYMENT OF DEFICIENCY CONTRIBUTIONS

2 CRR-NY 303.1 Additional liability under 55 year retirement plan {#sec-2-crr-ny-303.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 303.1}

The additional liability on account of past member service and prior service of members of the system shall be liquidated by extending the period over which the deficiency contributions would otherwise be payable, and to continue until such liability shall have been fully paid as certified by the chief actuary of the system.

2 CRR-NY 303.2 Additional liability under increased ordinary death benefit {#sec-2-crr-ny-303.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 303.2}

The additional liability on account of past member service and prior service of members of the system shall be liquidated by extending the period over which the deficiency contributions would otherwise be payable, and to continue until such liability shall have been fully paid, as certified by the chief actuary of the system.

Part 305 CONTINGENT BENEFICIARIES

2 CRR-NY 305.1 Authority to nominate {#sec-2-crr-ny-305.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 305.1}

On and after April 1, 1957, any member may nominate, on a form prescribed by the Comptroller, in addition to the named primary beneficiary, one named contingent beneficiary to whom the benefits provided by sections 51 and 60 of the Retirement and Social Security Law will be paid in the event the primary beneficiary does not survive the member.

Part 306 NOTICE TO DECREASE ANNUITY CONTRIBUTIONS

2 CRR-NY 306.1 Notice irrevocable for one year {#sec-2-crr-ny-306.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 306.1}

Any notice filed as prescribed by the aforementioned section (Retirement and Social Security Law, § 138-b) requesting a decrease in annuity contributions to the New York State Employees' Retirement System of the amount required to pay the member's contribution for old-age and survivors insurance, as well as any withdrawal thereof, shall be irrevocable for a period of one year from the date of such filing.

Part 307 REDEPOSIT OF WITHDRAWALS

2 CRR-NY 307.1 Withdrawals for F.O.A.S.I {#sec-2-crr-ny-307.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 307.1}

Those members of the New York State Employees' Retirement System who previously paid for their retroactive Federal old-age and survivors insurance coverage out of their accumulated contributions are permitted, at any time prior to their retirement, to redeposit in one lump sum into their accumulated contributions the amount withdrawn therefrom for such purpose.

Part 308 LOANS TO MEMBERS

2 CRR-NY 308.1 Applications for loans {#sec-2-crr-ny-308.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 308.1}

Applications for loans shall be executed by members on forms prepared by the retirement system. No application for a loan made by a member of Tier 1 or Tier 2 shall be accepted by the retirement system if the member has made application for and received a loan within the previous three months.

2 CRR-NY 308.2 Computation of premiums {#sec-2-crr-ny-308.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 308.2}

(a) On or after April 1, 2010, and until further directed by the Comptroller as provided by sections 50(g)(2) and 350(g)(2) of the Retirement and Social Security Law, the premium which shall be charged to members of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System for loan insurance shall be computed as hereinafter stated.

(1) Said premiums shall be charged for, and shall apply to, all loans outstanding at the beginning of each month, and shall further apply to, and be charged for, any new or additional loans made during any month.

(2) With reference to outstanding loans, the premium charge for said month will be computed on the first day of said month.

(3) With reference to new and additional loans made on or before the 16th day of any month, a premium charge for that month shall be computed as of the date of the issuance of the loan check.

(4) The premiums charged shall be based on the member's attained age at the time the charge is computed in accordance with the following schedule of rates:

| Attained age group at time of | Premium rate | | | | --- | --- | --- | --- | | premium charge | per annum | | | | | NYSLERS (Tiers 1 and 2) | NYSLPFRS (Tiers 1 and 2) | NYSLERS and NYSLPFRS (Tiers 3-6) | | 15 years or older but less than 40 years | .012% | .012% | .096% | | 40 years or older but less than 50 years | .024% | .012% | .192% | | 50 years or older but less than 70 years | .024% | .012% | .396% |

(b) The New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System shall maintain a continuous study of such loan insurance and keep the Comptroller advised of any significant changes which might require revision of the above premium scale.

(c) The Comptroller may make any changes in the above premium scale, at the beginning of any fiscal year, when such action is indicated by said continuous study.

Part 309 APPLICATION FOR RETIREMENT BENEFITS WHILE ON AN AUTHORIZED LEAVE OF ABSENCE WITHOUT PAY FOR MEDICAL REASONS OR WHILE RECEIVING BENEFITS PAYMENTS FROM EITHER WORKERS' COMPENSATION OR OTHER EMPLOYER-FUNDED DISABILITY PROGRAMS

2 CRR-NY 309.1 Background and determination {#sec-2-crr-ny-309.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 309.1}

The Court of Appeals of the State of New York has determined that a member of the Retirement System who was granted a leave of absence without pay for medical reasons, pursuant to the rules and regulations of the Department of Civil Service, continued to be in service upon which her membership was based for the duration of the leave granted. The Appellate Division, Third Department, has determined that a member of a retirement system who was granted a leave of absence without pay for medical reasons continues to be in service upon which membership in the system is based. In accordance with the above judicial principles, the Comptroller has determined that a member of the retirement system who is receiving benefit payments from either Workers' Compensation or other employer-funded disability programs and whose employment has not terminated by resignation, employer action or any other means, shall be considered to be in service upon which membership in the system is based, for the purposes of meeting certain statutory filing deadlines.

Sections 5.2 and 22.2 of the rules and regulations of the Department of Civil Service direct that a permanent State employee may, in the discretion of the appointing authority, be granted a leave of absence from his position without pay for a period not exceeding two years, and such leave may be extended beyond two years, for periods aggregating not in excess of an additional two years, only with the approval of the Civil Service Commission.

Sections 62, 63, 362, 363, 363-b, 363-c, 506 and 507 of the Retirement and Social Security Law, relating disability retirement, provide the applicant must file application for benefits while in service, or within certain statutorily provided time periods after discontinuance from service. Sections 507-a and 605 of the Retirement and Social Security Law, relating to disability retirement, provide the applicant must file an application within specified time periods from the last date the member was being paid on the payroll. Any retirement granted pursuant to these sections shall be effective as of a date approved by the Comptroller.

Sections 60, 60-a, 60-b, 448, 508 and 606 of the Retirement and Social Security Law, relating to ordinary death benefits, provide that a death benefit shall be payable if the member dies while in service upon which the membership is based.

This Part is promulgated to provide the criteria for determining whether members of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System who are either on a leave of absence without pay for medical reasons or receiving benefit payments from either Workers' Compensation or other employer-funded disability programs are to be considered in service for the purpose of filing an application for disability retirement and for eligibility for certain death benefits.

2 CRR-NY 309.2 Authorized leave of absence without pay for medical reasons {#sec-2-crr-ny-309.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 309.2}

For the purpose of this Part, an authorized leave of absence without pay for medical reasons is defined as a leave granted by the appropriate appointing authority for medical reasons for a period not exceeding two years, which leave may be extended by such authority for an additional period or periods not exceeding a total of two years.

2 CRR-NY 309.3 Presumption of regularity of authorized leave for medical reasons {#sec-2-crr-ny-309.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 309.3}

For the purposes of this Part, a leave of absence without pay, granted for medical reasons, must be in writing and signed by the appropriate appointing authority. Such leave shall presumptively be deemed to be authorized and to comply with the established administrative procedures of the appointing authority, in the absence of substantial evidence to the contrary, for any purpose relating to the qualification of an applicant for retirement and death benefits provided by the Retirement and Social Security Law.

2 CRR-NY 309.4 Workers' Compensation or other employer-funded disability programs {#sec-2-crr-ny-309.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 309.4}

For the purposes of this Part, members of the New York State Employees' Retirement System or the New York State Policemen's and Firemen's Retirement System who are receiving benefit payments from either Workers' Compensation or other employer-funded disability programs and whose employment has not terminated by resignation, employer action or any other means, shall be considered to be in service upon which membership in the system is based for a period not exceeding two years from the last date the member was being paid on the payroll.

2 CRR-NY 309.5 Application for retirement benefits while on an authorized leave of absence without pay for medical reasons or while receiving benefit payments from either Workers' Compensation or other employer-funded disability programs {#sec-2-crr-ny-309.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 309.5}

For purposes of filing an application for the disability retirement benefits provided by sections 62, 63, 362, 363, 363-b, 363-c, 506 and 507 of the Retirement and Social Security Law, a member of the New York State Employees' Retirement System or the New York State Policemen's and Firemen's Retirement System shall be deemed to be in service upon which membership is based:

(a) while on an authorized leave of absence without pay, granted for medical reasons, which has continuously been in effect since the member was last paid on the payroll; or

(b) while receiving benefit payments from either Workers' Compensation or other employer-funded disability programs, provided that such member's employment has not terminated by resignation, employer action or any other means, and provided that two years have not elapsed from the last date the member was being paid on the payroll.

Service credit shall not be granted for the period of any such leave of absence without pay. For the purposes of sections 507-a and 605 of the Retirement and Social Security Law, a member of the New York State Employee's Retirement System who is receiving benefit payments from either Workers' Compensation or other employer-funded disability programs, and whose employment has not terminated by resignation, employer action or any other means, shall be considered to be on a leave of absence for medical reasons without pay.

2 CRR-NY 309.6 Date upon which disability retirement will commence {#sec-2-crr-ny-309.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 309.6}

In the event a member files an application for disability retirement, and is granted such benefit, the effective date of such retirement shall be established as being on the date of filing of such disability retirement application or on the day after the last date on which the member receives salary, whichever is later.

2 CRR-NY 309.7 Death of a member {#sec-2-crr-ny-309.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 309.7}

For the purposes of determining eligibility to the various death benefits provided by the Retirement and Social Security Law, a member shall be deemed to have died in the service upon which membership is based or while on the payroll in the event that death occurs:

(a) while on an authorized leave of absence without pay, granted for medical reasons, which has continuously been in effect since the member was last paid on the payroll; or

(b) while receiving benefit payments from either Workers' Compensation or other employer-funded disability programs, provided that such members' employment has not terminated by resignation, employer action or any means, and provided that two years have not elapsed from the last date the member was being paid on the payroll.

2 CRR-NY 309.8 Effective date {#sec-2-crr-ny-309.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 309.8}

This Part shall be effective immediately.

Part 310 MORTALITY AND SERVICE TABLES; RATE OF CONTRIBUTION

2 CRR-NY 310.1 Mortality and service tables for valuation purposes {#sec-2-crr-ny-310.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 310.1}

In accordance with the provisions of subdivision b(1) of section 11 and subdivision b(1) of section 311 of the Retirement and Social Security Law and upon the recommendation of the actuary of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System, the State Comptroller does hereby adopt for valuation purposes new service, disability, withdrawal and mortality tables which are filed in the office of the New York State and Local Employees' Retirement System at 110 State Street, Albany, New York, and in the Office of the Secretary of State in Albany, copies of which are hereinafter set forth (see Appendix 10, infra). These tables shall be used for the actuarial valuation of all the liabilities of the New York State Employees' Retirement System and the New York State Police and Fire Retirement System on or after April 1, 2020.

2 CRR-NY 310.2 Mortality tables for determination of benefits {#sec-2-crr-ny-310.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 310.2}

(a) In accordance with the provisions of subdivision b(1) of section 11 and subdivision b(1) of section 311 of the Retirement and Social Security Law and upon the recommendation of the actuary of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System, the State Comptroller does hereby adopt mortality tables for the purpose of determining the benefits available to members of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System, which tables are filed in the office of the New York State Employees' Retirement System at 110 State Street, Albany, New York, and in the Office of the New York State Policemen's and Firemen's Retirement System at 110 State Street, Albany, NY, and in the Office of the Secretary of State in Albany, copies of which are hereinafter set forth (see Appendix 10-A, infra).

(b) Notwithstanding subdivision (a) of this section, the 1999 mortality tables (set forth in tables 44-48 of Appendix 10-A) shall be applicable to individuals in all tiers of membership in the New York State and Local Retirement System and the New York State and Local Police and Fire Retirement System who retire on or after January 16, 1999 and before October 15, 2015. These 1999 tables may only be used with a seven percent interest rate, and shall be the exclusive tables used with respect to individuals who retire under article 15 of the Retirement and Social Security Law on or after January 16, 1999 and before October 15, 2015.

(c) Notwithstanding subdivision (b) of this section, the 2015 mortality tables (set forth in tables 49-53 of Appendix 10-A) shall be applicable to individuals in all tiers of membership in the New York State and Local Retirement System and the New York State and Local Police and Fire Retirement System who retire on or after October 15, 2015. These 2015 tables may only be used with a 6.6 percent interest rate, and shall be the exclusive tables used with respect to individuals who retire under article 15 of the Retirement and Social Security Law on or after October 15, 2015.

2 CRR-NY 310.3 Member's rate of contribution {#sec-2-crr-ny-310.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 310.3}

In accordance with the provisions of subdivision b(2) of section 11 and subdivisions b and d of section 21 and subdivision b(2) of section 311 and subdivisions b and d of section 321 of the Retirement and Social Security Law, and upon the recommendation of the actuary of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System, the State Comptroller does hereby determine and certify, for all persons who are or become members of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System, the rates of member contribution as set forth in the schedules on file in the office of the New York State Employees' Retirement System at 110 State Street, Albany, NY, and in the office of the New York State Policemen's and Firemen's Retirement System at 110 State Street, Albany, NY, and in the Office of the Secretary of State in Albany, copies of which are hereinafter set forth (see Appendix 10-B, infra).

Part 311 PERCENTAGES FOR SUPPLEMENTAL RETIREMENT ALLOWANCE

2 CRR-NY 311.1 Schedule of percentages {#sec-2-crr-ny-311.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 311.1}

The following schedule of percentages by years of retirement shall be used for the purpose of computing a supplemental retirement allowance payable as authorized by sections 78 and 378 of the Retirement and Social Security Law, and may be used for the purpose of computing the supplemental retirement allowance authorized by sections 207-i and 207-l of the General Municipal Law:

SCHEDULE OF PERCENTAGES

SUPPLEMENTAL RETIREMENT ALLOWANCE UNDER SECTION 78

Effective 7/1/81

EMPLOYEES' RETIREMENT SYSTEM

| State pensioners | | | | | | --- | --- | --- | --- | --- | | Calendar year of retirement | Ret. on or after 10/1/57 | Ret. prior to 10/1/57 | Ret. on or after 1/1/58 | Ret. prior to 1/1/58 | | | | | | | | 1981 | 0 | — | 0 | — | | 1980 | 0 | — | 0 | — | | 1979 | 3.0 | — | 3.0 | — | | 1978 | 3.0 | — | 3.0 | — | | 1977 | 3.0 | — | 3.0 | — | | 1976 | 3.0 | — | 3.0 | — | | 1975 | 4.0 | — | 4.0 | — | | 1974 | 5.0 | — | 5.0 | — | | 1973 | 6.0 | — | 6.0 | — | | 1972 | 7.0 | — | 7.0 | — | | 4/1/70—12/31/71 | 8.0 | — | 8.0 | — | | 4/1/69—3/31/70 | 21.0 | — | 21.0 | — | | 1/1/69—3/31/69 | 22.0 | — | 22.0 | — | | 1968 | 27.3 | — | 27.3 | — | | 1967 | 32.8 | — | 32.8 | — | | 1966 | 36.9 | — | 36.9 | — | | 1965 | 40.1 | — | 40.1 | — | | 1964 | 43.1 | — | 43.1 | — | | 1963 | 44.6 | — | 44.6 | — | | 1962 | 47.1 | — | 47.1 | — | | 1961 | 48.5 | — | 48.5 | — | | 1960 | 50.8 | — | 50.8 | — | | 1959 | 52.8 | — | 52.8 | — | | 1958 | 53.8 | — | 53.8 | — | | 1957 | 57.3 | 87.6 | — | 87.6 | | 1956 | — | 97.6 | — | 97.6 | | 1955 | — | 101.6 | — | 101.6 | | 1954 | — | 100.8 | — | 100.8 | | 1953 | — | 102.0 | — | 102.0 | | 1952 | — | 104.0 | — | 104.0 | | 1951 | — | 111.2 | — | 111.2 | | 1950 | — | 133.6 | — | 133.6 | | 1949 | — | 136.6 | — | 136.6 | | 1948 | — | 133.6 | — | 133.6 | | 1947 | — | 157.2 | — | 157.2 | | 1946 | — | 204.4 | — | 204.4 | | 1945 | — | 236.2 | — | 236.2 | | 1944 | — | 245.6 | — | 245.6 | | 1943 | — | 252.4 | — | 252.4 | | 1942 | — | 278.6 | — | 278.6 | | 1941 | — | 326.8 | — | 326.8 | | 1940 | — | 352.2 | — | 352.2 | | 1939 | — | 356.6 | — | 356.6 | | 1938 | — | 349.0 | — | 349.0 | | 1937 | — | 339.8 | — | 339.8 | | 1936 | — | 357.6 | — | 357.6 | | 1935 | — | 363.2 | — | 363.2 | | 1934 | — | 377.0 | — | 377.0 | | 1933 | — | 395.2 | — | 395.2 | | 1932 | — | 365.4 | — | 365.4 | | 1931 | — | 310.8 | — | 310.8 | | 1930 | — | 267.8 | — | 267.8 | | 1929 | — | 256.8 | — | 256.8 | | 1928 | — | 256.8 | — | 256.8 | | 1927 | — | 251.0 | — | 251.0 | | 1926 | — | 243.6 | — | 243.6 | | 1925 | — | 247.0 | — | 247.0 | | 1924 | — | 257.4 | — | 257.4 | | 1923 | — | 258.8 | — | 258.8 |

SCHEDULE OF PERCENTAGES

SUPPLEMENTAL RETIREMENT ALLOWANCE UNDER SECTION 378

Effective 7/1/81

POLICEMEN'S AND FIREMEN'S RETIREMENT SYSTEM

| Calendar year of retirement | Ret. on or after 4/1/58 | Ret. prior to 4/1/58 | | --- | --- | --- | | | | | | 1981 | 0 | — | | 1980 | 0 | — | | 1979 | 3.0 | — | | 1978 | 3.0 | — | | 1977 | 3.0 | — | | 1976 | 3.0 | — | | 1975 | 4.0 | — | | 1974 | 5.0 | — | | 1973 | 6.0 | — | | 1972 | 7.0 | — | | 4/1/70—12/31/71 | 8.0 | — | | 4/1/69—3/31/70 | 21.0 | — | | 1/1/69—3/31/69 | 22.0 | — | | 1968 | 27.3 | — | | 1967 | 32.8 | — | | 1966 | 36.9 | — | | 1965 | 40.1 | — | | 1964 | 43.1 | — | | 1963 | 44.6 | — | | 1962 | 47.1 | — | | 1961 | 48.5 | — | | 1960 | 50.8 | — | | 1959 | 52.8 | — | | 1958 | 53.8 | 80.6 | | 1957 | — | 87.6 | | 1956 | — | 97.6 | | 1955 | — | 101.6 | | 1954 | — | 100.8 | | 1953 | — | 102.0 | | 1952 | — | 104.0 | | 1951 | — | 111.2 | | 1950 | — | 133.6 | | 1949 | — | 136.6 | | 1948 | — | 133.6 | | 1947 | — | 157.2 | | 1946 | — | 204.4 | | 1945 | — | 236.2 | | 1944 | — | 245.6 | | 1943 | — | 252.4 | | 1942 | — | 278.6 | | 1941 | — | 326.8 | | 1940 | — | 352.2 | | 1939 | — | 356.6 | | 1938 | — | 349.0 | | 1937 | — | 339.8 | | 1936 | — | 357.6 | | 1935 | — | 363.2 | | 1934 | — | 377.0 | | 1933 | — | 395.2 | | 1932 | — | 365.4 | | 1931 | — | 310.8 | | 1930 | — | 267.8 | | 1929 | — | 256.8 | | 1928 | — | 256.8 | | 1927 | — | 251.0 | | 1926 | — | 243.6 | | 1925 | — | 247.0 | | 1924 | — | 257.4 | | 1923 | — | 258.8 |

Part 312 NEW YORK STATE PUBLIC EMPLOYEES GROUP LIFE INSURANCE

2 CRR-NY 312.1 Background and determination {#sec-2-crr-ny-312.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 312.1}

Whereas, Since the inception of the New York State Employees' Retirement System and of the New York State Policemen's and Firemen's Retirement System, an ordinary death benefit has been payable upon the death in service of a member thereof, the authority for such benefit being found in sections 60, 60-a, 60-b, 360, 360-a, 360-b, 448, 508 and 606 of the Retirement and Social Security Law; and

Whereas, This benefit represents a valuable and important factor in estate planning by the members, and is very often the most significant or sole asset whereby the member provides for his designated beneficiaries in the event of his death while in service; and

Whereas, Under the provisions of the Internal Revenue Code, the receipt of such benefit may pose unfavorable income tax consequences for beneficiaries; and

Whereas, The Legislature of the State of New York, by the enactment of chapter 336 and 371, Laws of 1969, chapter 581, Laws of 1970, chapters 28 and 909, Laws of 1971, chapter 510, Laws of 1974, and chapter 339, Laws of 1978, has authorized and directed the State Comptroller to take such steps as are necessary to afford the ordinary death benefit provided by the Retirement and Social Security Law in the form of group life insurance, upon a determination by him that to do so would guarantee a more favorable tax treatment of the benefit to beneficiaries of members on whose behalf such benefit is payable, thereby declaring it to be the public policy of the State of New York that members be covered by group life insurance upon such determination; and

Whereas, in 1995 the Comptroller engaged the consulting firm of Peat Marwick LLP to determine whether such favorable tax treatment could also be afforded by paying post-retirement death benefits payable to beneficiaries of members of the New York State and Local Retirement System under sections 448, 508 and 606 of the Retirement and Social Security Law in the form of group life insurance, and whereas by letter dated April 27, 1995, Peat Marwick determined that the pertinent provisions of the Internal Revenue Code and applicable regulations permitted such treatment of post-retirement death benefits; and

Whereas, Recent studies show that approximately 80 percent of the total United States working force (excluding agricultural and governmental employees) are covered by employer-sponsored group life insurance plans, indicating a strong trend toward this form of employee benefit; it is, therefore, hereby

Determined, That to afford group term life insurance to members of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System will guarantee a more favorable tax treatment to the beneficiaries of such members, as appears more particularly from the appended rulings of the Internal Revenue Service dated December 31, 1969 (see Appendix 11, infra), and February 18, 1971, (see Appendix 11-A, infra); and it is hereby

Directed, That group term life insurance shall be provided covering the death of members of the New York State Employee's Retirement System and the New York State Policemen's and Firemen's Retirement System, as provided below.

2 CRR-NY 312.2 New York State public employees group life insurance plan established {#sec-2-crr-ny-312.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 312.2}

The New York State public employees group life insurance plan, hereinafter referred to as the plan, is hereby established and created, for the purpose of providing group life insurance for the payment of the pre-retirement death benefits, or portions thereof, required by section 60, 60-a, 60-b, 360, 360-a, 360-b, 448, 508 or 606 of the Retirement and Social Security Law, or any substantially similar provisions enacted to provide pre-retirement ordinary (non-accidental) death benefits to beneficiaries of members of the New York State and Local Retirement Systems. With respect to eligible deaths occurring on or after April 1, 1996, the New York State public employees group life insurance plan established under this Part shall also be used for the purpose of providing group life insurance for post-retirement death benefits payable pursuant to section 448, 508 or 606 of such law, or any substantially similar provisions enacted to provide post-retirement ordinary (non-accidental) death benefits to beneficiaries of members of the New York State and Local Retirement Systems.

2 CRR-NY 312.3 New York State public employees group life insurance plan reserve funds {#sec-2-crr-ny-312.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 312.3}

Separate funds, to be known as the New York State Public Employees Group Life Insurance Plan Reserve Funds, are herby established within the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System, respectively, to be held in trust by the State Comptroller. Such funds shall consist of all premiums paid by the State and by participating employers and other monies received and paid into the funds for group term life insurance purposes, and of the investment earnings upon such monies, and shall be used only to pay the group term life insurance prescribed by section 312.4 of this Part. Concurrent with the determination of the initial liability of the plan for the balance of the fiscal year on and after January 1, 1970, for the group term life insurance provided and to be paid for pursuant to this plan, there shall be segregated and transferred from the pension accumulation funds of the New York State Employees' Retirement System and of the New York State Policemen's and Firemen's Retirement System to the reserve fund created by this section for each of such systems such amounts determined by the actuary to be necessary to pay anticipated group term life insurance claims. Subsequent segregations and transfers shall be made as shall be required to pay the insurance prescribed by section 312.4 of this Part from the reserve funds provided by this section.

2 CRR-NY 312.4 Insurance payable in the event of death {#sec-2-crr-ny-312.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 312.4}

(a) In the case of the death of a qualified member during the effective period of insurance, the estate, or designated beneficiary or beneficiaries, shall receive the benefits provided pursuant to section 60, 60-a, 60-b, 360, 360-a, 360-b, 448 or 508 of the Retirement and Social Security Law from the plan, as hereinafter provided. Nevertheless, the amount of insurance payable upon the death of a member, and the eligibility to receive such payment, shall be determined in accordance with the provisions of section 60, 60-a, 60-b, 360, 360-a, 360-b, 448, 508 or 606 of the Retirement and Social Security Law, as the case may be, or any substantially similar provisions enacted to provide ordinary (non-accidental) death benefits to beneficiaries of members of the New York State and Local Retirement Systems, subject to the limitations with respect to post-retirement death benefits provided in section 312.2 of this Part. However, in no case, shall the amount of insurance payable by the plan upon the death of a member exceed $50,000. In the event an amount in excess of $50,000 is payable to the estate, beneficiary, or beneficiaries of a deceased member pursuant to section 60, 60-a, 60-b, 360, 360-a 360-b, 448, 508 or 606 of the Retirement and Social Security Law, or any substantially similar provisions enacted to provide ordinary (non-accidental) death benefit to beneficiaries of members of the New York State and Local Retirement Systems, subject to the eligibility requirements with respect to such treatment of post-retirement death benefits provided in section 312.2 of this Part, the sum of $50,000 shall be payable as group term life insurance as specified in this Part, and the excess over $50,000 shall be paid as provided in said sections.

(b) Notwithstanding the provisions of subdivision (a) of this section, the State or a participating employer may designate the amount of insurance payable by the plan upon the death of a member in its employ, providing that such amount may not exceed $50,000. In the event an amount in excess of that so designated is payable to the estate, beneficiary, or beneficiaries of a deceased member, pursuant to section 60, 60-a, 60-b, 360, 360-a, 360-b, 448, 508 or 606 of the Retirement and Social Security Law, or any substantially similar provisions enacted to provide ordinary (non-accidental) death benefit to beneficiaries of members of the New York State and Local Retirement Systems, subject to the eligibility requirements with respect to such treatment of post-retirement death benefits provided in section 312.2 of this Part, such excess shall be paid as provided in said sections. Said designations shall be effective when filed with the retirement system, and shall remain in effect until amended or rescinded by the employer.

2 CRR-NY 312.5 Premiums {#sec-2-crr-ny-312.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 312.5}

The actuary shall annually investigate the plan's claim experience as provided by section 11 of the Retirement and Social Security Law. On the basis of such investigations and upon the recommendation of the actuary, the Comptroller shall certify the premium rates computed to be necessary to fund the group term life insurance authorized to be paid by the plan, as follows: As soon as practicable after the beginning of each fiscal year, the actuary shall estimate the amount which will be necessary to maintain a reserve which will be sufficient to pay at least one-half the amount of benefits estimated to become payable during a fiscal year. On the basis of such estimate, the Comptroller shall certify the premium which the State of New York and participating employers in the retirement systems are required to pay into the reserve funds to discharge the obligations of the plan. A statement of the amount so payable shall be submitted to the State of New York and to each participating employer as provided by sections 16, 17, 23, 316, 317 and 323 of the Retirement and Social Security Law.

2 CRR-NY 312.6 [Repealed] {#sec-2-crr-ny-312.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 312.6}

Part 313 WITHDRAWAL OF EXCESS CONTRIBUTIONS

2 CRR-NY 313.1 Background and determination {#sec-2-crr-ny-313.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 313.1}

Whereas, Sections 21(k), 51(c), 321(k) and 351(c) of the Retirement and Social Security Law contain authorization whereby members of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System may withdraw certain accumulated contributions credited to them in the annuity savings fund; and

Whereas, Section 51(c) and section 351(c) itemize accumulated contributions which shall be treated as excess contributions and subject to withdrawal, and, in addition authorize the State Comptroller to promulgate a rule and regulation determining other accumulated contributions to be excess contributions and subject to withdrawal; and

Whereas, Various factors, such as the time of withdrawal, the service retirement plan in which the member participates, the status of the member as contributory or noncontributory, and the period during which contributions were made to the retirement system, have a varying effect upon whether a member's accumulated [cont'd] contributions, or a portion thereof, may be required for the member's retirement allowance, or may be considered to be excess contributions and subject to withdrawal, it is, therefore, hereby

Determined, that, in addition to those accumulated contributions identified and defined in paragraphs 1 and 2 of subdivision c of section 51 of the Retirement and Social Security Law, and in paragraphs 1 and 2 of subdivision c of section 351 of the Retirement and Social Security Law, members of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System may withdraw additional excess contributions as provided in section 313.2 of this Part.

2 CRR-NY 313.2 Withdrawal of excess contributions {#sec-2-crr-ny-313.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 313.2}

A member of the New York State Employees' Retirement System or the New York State Policemen's and Firemen's Retirement System may, by filing a written request therefor on or after May 1, 1974, withdraw all accumulated contributions which would otherwise be used to provide additional annuity.

2 CRR-NY 313.3 Form of request to withdraw excess contributions {#sec-2-crr-ny-313.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 313.3}

Requests to withdraw excess contributions shall be executed by members on forms prepared by the retirement system. Said forms shall inform members that the amount withdrawn may constitute income for tax purposes for the year in which paid, and that if so, the retirement system will report such amount to the Internal Revenue Service. The retirement system will pay the full amount of all excess contributions which are available to the member as provided in section 313.2 of this Part, unless the member elects to withdraw only a percentage thereof.

2 CRR-NY 313.4 Restoration of right to make contributions {#sec-2-crr-ny-313.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 313.4}

A member who prior to May 1, 1974 filed a request for return of excess accumulated contributions and who had been required upon making such request to cancel any election or waiver previously filed by him to make contributions pursuant to sections 21(i), 21(j), 321(i) or 321(j) of the Retirement and Social Security Law, shall by filing a written statement with the Comptroller on or before December 31, 1974 be permitted to again make the contributions that such member had been permitted to make under these provisions of law prior to the filing of his request for excess accumulated contributions, provided that he shall deposit in the annuity savings fund a sum equal to the total contributions that he would have made had he not been required to terminate the making of such contributions together with regular interest. Such deposit must be made at the time of the filing of the statement to elect to resume contributions, provided however, such member may at such time elect to deposit such amount by payroll deductions over a period of time no greater than the period during which such contributions would have been made had they not been terminated.

Part 314 PURCHASE OF CREDIT FOR CERTAIN WORLD WAR II SERVICE BY TRANSFER OF EXCESS CONTRIBUTIONS CREDITED TO MEMBER'S ACCOUNT

2 CRR-NY 314.1 Purchase of service credit for certain World War II duty by transfer of excess contributions credited to member's annuity savings fund {#sec-2-crr-ny-314.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 314.1}

In accordance with the authority provided by chapter 1166 of the Laws of 1971, a member of the New York State employees' retirement system or the New York state policemen's and firemen's retirement system who is entitled to purchase service credit for certain World War II duty pursuant to the provisions of section 41(k) and section 341(k) of the Retirement and Social Security Law, may purchase, on or after April 1, 1971, all or any portion of such service credit with any excess contributions that may be credited to the member's annuity savings fund. Upon proper application by the member on a form prepared by the Comptroller, a transfer will be made from such excess contributions in the annuity savings fund to required contributions in the annuity savings fund, and to the pension accumulation fund, in such proportions as are required by section 41(k)(2) and section 341(k)(2) of the Retirement and Social Security Law for the purchase of such service credit. In the event that the member's annuity savings fund is not credited with sufficient excess contributions to provide for the purchase of all of the member's purchasable World War II service credit, those excess contributions that are available may be transferred in proportional shares as set forth above to purchase the maximum amount of service credit purchasable with such funds.

Part 315 EMPLOYER REPORTING

2 CRR-NY 315.1 Background {#sec-2-crr-ny-315.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 315.1}

Sections 34 and 334 of the Retirement and Social Security Law, as added by chapter 510 of the Laws of 1974, require that the Comptroller adopt rules and regulations, which shall have the force and effect of law, for the reporting of service, salary and deduction information for all employees of employers which participate in the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System. Said statutes further provide that the chief fiscal officer of the participating employer, or other officer exercising similar duties, shall file the required report in such form and at such times as may be prescribed in the said rules and regulations. Sections 34 and 334 make the refusal or willful neglect to file the required report a violation which shall subject the officer so refusing or neglecting to a penalty of $5 per day for each day's delay beyond seven days. Sections 11 and 311 of the Retirement and Social Security Law establish the Comptroller as the administrative head of the retirement system and authorize him to adopt and amend rules and regulations for the administration and transaction of the business of the retirement system. In accordance with the requirements of sections 11, 34, 311 and 334, this Part is promulgated.

2 CRR-NY 315.2 Definitions {#sec-2-crr-ny-315.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 315.2}

(a) As used in this Part, the term employer shall mean the State, a participating employer, and any other unit of government or organization obligated or agreeing to make contributions to the retirement system on behalf of its employees.

(b) The term employee shall mean an individual performing services for the employer for which the employer has the right to control the means and methods of what work will be done and how the work will be done.

(c) The term independent contractor shall mean a consultant or other individual engaged to achieve a certain result who is not subject to the direction of the employer as to the means and methods of accomplishing the result. For purposes of this Part, when making a determination as to whether an individual is an employee or an independent contractor, the factors set forth hereinafter in section 315.3(c)(2) of this Part shall be considered by the employer.

2 CRR-NY 315.3 Employer reporting {#sec-2-crr-ny-315.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 315.3}

(a) Timeliness of reporting.

All reporting as defined in subdivision (b) of this section shall be made so as to be received by the retirement system within seven days after the close of the month to which service and salary data apply.

(b) Reporting document.

Employers shall provide a legible certified document containing all information deemed necessary by, and in a format prescribed or approved by, the Comptroller for the purpose of making benefit determinations from service, salary and deduction records. Employers seeking to alter or change any reporting document, once approved, must submit the proposed changes to the Comptroller for approval prior to implementation of the changes. In lieu of reporting salary and service information on a hard copy document, as described above, an employer may comply with the reporting requirements of sections 34 and 334 of the Retirement and Social Security Law by providing all information required by the retirement system over the internet pursuant to an electronic employer reporting system established for such purpose by the Comptroller. The reporting document shall include the following information for each employee paid on any payroll paid during the month:

(1) Control information.

That information deemed necessary by the Comptroller for identifying and controlling specific records and accounts for each employee including, but not limited to, identification number, registration number, name, location code, report code, and report date.

(2) Contribution and payment information for each position held by an employee. Normal contribution or mandatory amount, loan payment amount, and arrears payment amount.

(3) Salary information and all other amounts earned for each position held by an employee. All amounts shall be reported consistent with corresponding earnings codes established by the retirement system. Gross salary paid (including value of maintenance, if any).

(4) Service information for each position held by an employee.

(i) Number of days worked shall be reported without reduction for paid sick leave, paid vacation, personal leave, bereavement leave, or time off in lieu of pay for overtime.

(ii) A full day worked shall be any day on which the employee performs paid service for at least the standard number of hours required for the position in which such service is rendered. In no event shall less than six hours be considered to be a full day. For full-time employees performing services pursuant to a collective bargaining agreement or contract that provides for other than a five day standard work week paid at straight time, an employer may report them at full-time per their payroll cycle, provided the cumulative number of hours equal at least 120 hours a month. A full day worked for such employees shall be a minimum of six hours of accumulated time worked and paid at the straight time rate. The minimum number of hours which shall be reported as days worked, for the purpose of reporting preliminary credit, for a full year of service credit for such employees is 1,560 hours.

(iii) In the event that less than a full day is worked, prorated credit shall be given by the ratio of the number of hours worked in that day to the greater of the standard number of hours required for the position in which such service is rendered or six hours.

(iv) Days worked, both full and fractional, shall be accumulated within a report period and the resulting total rounded to the next higher hundredth of a whole day. This total shall be reported as number of days worked.

(v) In the event that salary adjustments are made in conjunction with a report, any corresponding adjustment in days worked must also be reported in the same period in which such salary adjustment is reported.

(vi) In the event that salary and service adjustments are made but are not reflected on the regular report, a separate reporting form shall be submitted for employees to whom such adjustments apply, showing the amount of the adjustment and the control information applicable to the employees for the report period to which the adjustments apply.

(vii) A full day worked for employees of the New York State Legislature shall be a minimum of six hours of accumulated time worked and the total number of days worked by such employees for the purpose of employer reporting shall be determined based on the cumulative number of hours worked in a calendar year. The number of hours which shall be reported as days worked, for the purpose of reporting preliminary credit, for a full year of service credit for employees of the State Legislature is 1,560 hours.

(5) Demographic and employment transaction information deemed necessary by the Comptroller such as date of hire or rehire, change of title or position, any unpaid leave periods and date of termination. All periods of service when an employee does not receive pay, including military leave and medical leave shall be reported.

(6) Control totals.

Each employer shall provide, in connection with each monthly report, such control totals of dollar amounts reported and number of days worked as are deemed necessary by the retirement systems.

(c) Employees to be reported.

(1) All persons employed by an employer participating in the New York State and Local Employees' Retirement System or the New York State and Local Police and Fire Retirement System shall be included in the above reporting requirements. Employers shall provide the information deemed necessary by the retirement system for all employees except those who actively participate in another public retirement system or program. In the case of employees who are in the process of being registered to membership, all service, salary and deduction data and mandatory contributions shall be accumulated by each employer and such accumulation shall be included with the first monthly report which is due after the employee's registration or identification number has been assigned.

(2) Determination by employer. An individual serving the employer as an independent contractor or consultant is not an employee and should not be reported to the retirement system. The employer has the primary responsibility for determining whether an individual is rendering services as an employee or as an independent contractor. When making such a determination, the employer must consider the following:

(i) Factors supporting the conclusion that an individual is an employee rather than an independent contractor:

(a) the employer controls, supervises or directs the individual performing the services, not only as to result but as to how assigned tasks are to be performed;

(b) the individual reports to a certain person or department at the beginning or during each work day;

(c) the individual receives instructions as to what work to perform each day;

(d) the individual's decisions are subject to review by the employer;

(e) the employer sets hours to be worked;

(f) the individual works at established and fixed hours;

(g) the employer maintains time records for the individual;

(h) the employer has established a formal job description;

(i) the employer's governing board formally created the position with the approval of the local civil service commission where necessary;

(j) the employer prepares performance evaluations;

(k) the employer requires that the individual attend training;

(l) the employer provides permanent workspace and facilities (including, but not limited to, office, furniture and/or utilities);

(m) the employer provides the individual with equipment and support services (including, but not limited to, computer, telephone, supplies and/or clerical assistance);

(n) the individual is covered by a contract negotiated between a union and the employer;

(o) the individual is paid salary or wages through the employer's payroll system;

(p) tax withholding and employee benefit deductions are made from the individual's paycheck; and

(q) the individual is entitled to fringe benefits (including, but not limited to, vacation, sick leave, personal leave, health insurance and/or grievance procedures);

(ii) Factors supporting the conclusion that an individual is an independent contractor rather than an employee:

(a) the individual has a personal employment contract with the employer;

(b) the employer pays the individual for the performance of services through the submission of a voucher;

(c) the individual is authorized to hire others, at the expense of the individual or a third party, to assist the individual in performing work for the employer;

(d) the individual provides similar services to the public;

(e) the individual is concurrently performing substantially the same services for other public employers; and

(f) the individual is also employed or associated with another entity that provides services to the employer by contract, retainer or other agreement.

(iii) Presumption. Except as prohibited by section 2051 of part 3 of article 41 of the Education Law, which provides that a lawyer shall not simultaneously be an independent contractor and an employee of a school district or BOCES for the purpose of providing legal services, in the case of an individual whose services has been engaged by an employer in the capacity of attorney, physician, engineer, architect, accountant or auditor and who is also a partner, associate, including an attorney in an “of counsel” relationship, or employee of another organization or entity that has a contract, retainer or other agreement to provide professional services to the participating employer, it shall be presumed that the individual is an independent contractor and not an employee of the participating employer.

(iv) Examples.

(a) An attorney who, in providing services to a participating employer, sets his own hours, is not supervised in the manner in which the work is performed, uses his or her own office and staff and has no deductions from salary is considered to be an independent contractor.

(b) A physician who is performing examinations and providing medical services for a school district, is provided with office space in the school, has set hours, is provided with supplies and receives a fixed salary with regular payroll deductions is considered to be an employee.

(3) Written explanation by participating employers; certain professions. In the case of an individual whose service has been engaged by a participating employer in the capacity of attorney, physician, engineer, architect, accountant or auditor and the participating employer has determined that the individual is rendering service as an employee and, therefore, may be eligible for credit with a retirement system, such employer shall submit to the retirement system, in a form prescribed by the Comptroller and certified by the chief fiscal officer of the employer, an explanation of the factors that led to the conclusion that the individual is an employee and not an independent contractor or consultant. Such certification shall be submitted to the retirement system at the time the individual is registered to membership or, in the case of an individual who is already a member of the retirement system, at the time the individual is first reported by the participating employer to the system. In addition, such employer shall submit copies of documentation pertaining to the appointment of the individual as an employee and the decision to report the individual to the retirement system as well as the acceptance of the appointment by the local civil service commission where necessary. In the event appointments are made by a governing board of the participating employer, such documentation shall include a copy of the minutes of the meeting of such employer's governing board.

(4) Explanation at the request of the retirement system. In the case of any individual who is currently a member or a retiree of a retirement system, the retirement system may require that an employer submit to the retirement system an explanation of the factors that led to the conclusion that an individual engaged by the employer was an employee. An employer receiving such a request shall submit a response within 30 days of the date of the request or provide an explanation as to why it is unable to do so.

(5) Adjustment reports. In the event the retirement system or an employer determines that an individual has been incorrectly reported to a retirement system, the employer, upon notification from the retirement system, or upon its own initiative, shall promptly file salary and service adjustment reports with the retirement system to correct the error.

2 CRR-NY 315.4 Additional reporting requirements for elected or appointed officials who work for a participating employer of the retirement system and are required to be reported to the retirement system {#sec-2-crr-ny-315.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 315.4}

(a) Record of work activities.

(1) Except as otherwise provided in this subdivision, any elected or appointed official who is not paid hourly or does not participate in an employer’s time keeping system that consists of a daily record of actual time worked and time charged to accruals, shall record his or her work activities for a period of three consecutive months. The elected or appointed official should extend the period of his or her record of work activities by the amount of time utilized for vacations, illness, holidays or other reasons during the three-month period. The record of work activities must represent months that are not unusually slow or busy. If a position is seasonal in nature, the record of work activities should be kept for an extended period of up to 12 months to capture an accurate account of work activities. In recording the description of work activities, such elected or appointed official shall include the start and end time of each activity performed. The elected or appointed official may also include activities performed outside the normal working hours that require his or her attention to attend to official duties, including responding to an emergency, attending an employer sponsored event or meeting with or responding to members of the public on matters of official business. During a period that an elected or appointed official is required to be on-call, he or she may only record the time actually spent performing a work-related activity. The elected or appointed official may not include activities that would not be considered work-related such as attending electoral or campaign events, socializing after town board meetings or attending a candidates’ forum. The elected or appointed official’s initial three-month record of work activities shall be completed within 150 days of commencing a new or subsequent term of office, or upon joining the retirement system, on or after August 12, 2009. The elected or appointed official must sign the record of work activities attesting to its accuracy and submit it to the secretary or clerk of the governing board within 30 days of completion. Each such record of work activities and any subsequent recertification shall be retained by the employer for a period of at least 30 years and full and complete copies thereof shall be provided to the State Comptroller upon his or her request. A record of work activities shall not be valid for more than eight years from the date it was initially maintained. If the hours worked have not substantially or materially increased or decreased during the eight year period, the elected or appointed official may certify to such in writing to the governing board in lieu of maintaining a new record of work activities. The elected or appointed official must submit this certification to the governing board within 180 days of taking a subsequent term of office. If the hours worked have substantially increased or decreased during the eight year period, the elected and appointed official must prepare, sign and submit a new record of activities.

(2) In the event the elected or appointed official or the employer determines the initial recording of work activities for a period of three consecutive months is not representative of the average number of hours worked by the elected or appointed official, he or she must record work activities during the same calendar year for an alternative period of three consecutive months which is representative of the average number of hours worked by such official. Such record of work activities shall be signed by such elected or appointed official and submitted to the secretary or clerk of the governing board within 30 days of the completion of the record. The failure of an elected or appointed official to record, sign and submit a record of work activities within the required time frame shall result in the suspension of service crediting and retirement system membership benefits. The suspension of service crediting will remain in effect until such time as the elected or appointed official completes a record of work activities that complies with the requirements of this regulation and submits it to the secretary or clerk of the governing board. The record of work activities must be submitted to the secretary or clerk prior to the elected or appointed official ending service in that title.

(b) Completion of the standard work day and reporting resolution.

In addition to the reporting requirements set forth in section 315.3 of this Part, and for the sole purpose of reporting days worked to the retirement system, the governing board of a participating employer of an elected or appointed official shall establish, by resolution, a standard work day for each elective or appointive office or position using the standard work day and reporting resolution form provided by the retirement system or a form or format approved by the retirement system. Such standard work day and reporting resolution shall indicate:

(1) the title of the position;

(2) the first and last name of the elected or appointed official holding the position;

(3) the last four digits of the social security number of each elected or appointed official;

(4) the registration number of each elected or appointed official;

(5) the number of hours prescribed as a standard work day equal to no fewer than six hours nor more than eight hours for each such elective or appointed office or position;

(6) the full month, day and year of the commencement and expiration of the term for each such office or position.

For each elected or appointed official who is not paid hourly or does not participate in an employer’s time keeping system that consists of a daily record of actual time worked and time charged to accruals and who has submitted a record of work activities pursuant to paragraph (a)(1) of this section, the employer shall indicate the average number of days worked per month in the resolution. In the event that the official has not recorded and submitted to the secretary or clerk of the governing board his or her record of work activities for a period of three consecutive months the employer shall so indicate in the resolution. The governing board shall determine whether activities listed on the record of work activities are official duties of the position. Activities that do not consist of official duties as described in paragraph (a)(1) of this section are to be excluded from the calculation of the average number of days worked per month to be listed on the standard workday and reporting resolution. Such standard work day and reporting resolution shall be adopted at the first regular meeting held after a record of work activities has been submitted. In the event an elected or appointed official submits a new record of work activities pursuant to paragraph (a)(ii) of this section, the governing board must pass an additional resolution for that individual amending the average number of days worked per month based on such record of work activities.

(c) Standard work day and reporting resolution: filing and posting requirements.

The standard work day and reporting resolution required by subdivision (b) of this section shall be prominently posted on the employer’s website for a minimum of 30 days or, in the event the employer does not maintain a website available to the public, such standard work day and reporting resolution shall be posted on the official sign-board or at the main entrance to the office of the clerk for the municipality or similar office of the employer. After the 30-day posting period, the standard work day and reporting resolution shall be made available either through the website or upon request. The elected or appointed official’s social security number (last four digits) and registration number must be omitted from the copy of the standard work day and reporting resolution that is publicly posted. A certified copy of the standard work day and reporting resolution and an affidavit of posting shall be filed by the secretary or clerk of the governing board with the Office of the State Comptroller within 15 days after the public posting period has ended. The failure of the governing board to adopt such standard work day and reporting resolution shall result in the suspension of service crediting and retirement system membership benefits for the elected or appointed official until such time as the standard work day and reporting resolution is adopted, posted and filed with the comptroller. In the event the governing board submits an additional standard work day and reporting resolution amending the average number of days worked per month for an elected or an appointed official pursuant to subdivision (b) of this section, such additional standard work day and reporting resolution shall be subject to the posting and filing requirements set forth in this subdivision.

(d) Reporting days worked on the monthly (quarterly/semi-annual/annual) report

Once a standard work day and reporting resolution is passed, the average number of days worked per month listed on the standard work day and reporting resolution must be provided to the individual(s) responsible for reporting days worked to the retirement system on the employer’s behalf. These individual(s) must ensure that the days worked reported on the standard work day and reporting resolution are accurately converted to correspond with the official’s payroll frequency and recorded on the report submitted to the retirement system. In the event that the report submitted to the retirement system does not reflect the average days worked per month documented on a standard work day and reporting resolution, then retroactive adjustments must be submitted for the period covered by the corresponding record of work activities. A record of work activities submitted by an elected or appointed official, pursuant to this section, should be used as the basis for his or her days worked reported for prior terms served in the same title, if no record of work activities was submitted for the prior terms.

2 CRR-NY 315.5 Reporting requirements for service credit involving public safety overtime {#sec-2-crr-ny-315.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 315.5}

(a) Background.

The retirement system has long considered certain special duty assignments that consisted primarily of security work performed by public safety professionals at the request of a private entity on a voluntary basis, paid or reimbursed by the private entity, performed under the direction of the private entity, or primarily for the benefit of the private entity not to be creditable because such assignments did not constitute paid public service with a participating employer. Courts have upheld the retirement system’s position that such work, often referred to as private entity overtime was not allowable service, and was not within the realm of the employee’s duties for the participating employer.

In recent years, however, the manner in which special duty assignments performed at the request of private entities are assigned, supervised, and compensated has changed. Today, special duty assignments are often mandatory and are directed and controlled by the public employer. Compensation to the employee is paid by the public employer, not the private entity. In recognition of the changing nature of special duty assignments, the retirement system has determined that those special duty assignments that meet the criteria established by the retirement system, qualify as public safety overtime and shall be considered allowable service.

(b) Definition.

For purposes of the section, public safety overtime shall mean overtime service for hours worked in excess of regularly scheduled hours that is performed by a member as a special duty assignment that meets the criteria set forth in subdivision (g) of this section.

(c) Applicability.

This section applies to the following members:

(1) active members of the New York State and Local Police and Fire Retirement System who are engaged in police or fire service as defined in subdivision 11 of section 302 of the Retirement and Social Security Law; and

(2) active members of the New York State and Local Employees’ Retirement System who are employed as sheriffs, under-sheriffs or regular deputy sheriffs engaged directly in criminal law enforcement activities that aggregate 50 per centum of his or her job duties as certified by the county.

(d) Reporting.

The employer of any member covered by this section shall report all special duty assignments to the retirement system at such time and in such manner as prescribed by the retirement system. The retirement system is authorized to audit all such reports to confirm that only those special duty assignments that qualify as public safety overtime are treated as allowable service.

(e) Information required from employers.

The employer shall provide any and all documents requested by the retirement system for the purpose of confirming that the reported special duty assignment is allowable public safety overtime. Examples of the documents that may be requested shall include, but are not limited to, the following:

(1) the contract or other written agreement between the private entity and the employer describing the services to be performed as the special duty assignment;

(2) the employer’s overtime policy and/or collective bargaining agreement; and

(3) payroll documents associated with the special duty assignment.

(f) Contributions.

Contributions for earnings associated with special duty assignments deemed allowable service shall be made by employees and employers in the manner prescribed by the retirement system.

(g) Criteria for allowable service.

The following criteria apply to the determination of whether a special duty assignment qualifies as public safety overtime and is to be reported to the retirement system as allowable service:

(1) there is a contract for services between the participating employer and the private entity;

(2) the services provided are for the benefit of the public at large, as opposed to for the exclusive benefit of the private entity;

(3) the duties performed by the employee for the private entity are police, fire or sheriff department duties that are provided for public safety;

(4) payment to the employee for the special duty assignment is made by the participating employer, not by the private entity;

(5) the special duty assignment is available to all employees in the public safety title, consistent with the participating employer’s policy or practice for the assignment of overtime;

(6) the work performed for the special duty assignment is directed, supervised and controlled by the participating employer;

(7) the special duty assignment is mandatory, consistent with the participating employer’s policy or practice for the assignment of overtime; and

(8) the employee is indemnified by the employer when performing the special duty assignment.

(h) Limitations.

Notwithstanding any other provision of this section, the creditability of public safety overtime is subject to the limitations provided for in the Retirement and Social Security Law.

(i) Effective date of section.

This section shall become effective July 1, 2019.

2 CRR-NY 315.6 Effective date {#sec-2-crr-ny-315.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 315.6}

This Part shall be effective commencing with the first payroll period ending on or after April 1, 1975.

Part 316 SERVICE CREDIT DETERMINATIONS FOR PERSONS WHO LAST BECAME MEMBERS ON OR AFTER JULY 1, 1973

2 CRR-NY 316.1 Background {#sec-2-crr-ny-316.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 316.1}

Chapter 382 of the Laws of 1973, chapter 890 of the Laws of 1976 and chapter 414 of the Laws of 1983 imposed certain limitations upon the retirement benefits which are available to persons who join or rejoin the New York State and Local Employees' Retirement System or the New York State and Local Police and Fire Retirement System on or after July 1, 1973. One such limitation concerns the method whereby such members will receive service credit for other than full-time public service. The provisions of subdivision (e) of section 446, subdivision (d) of section 513 and subdivision (e) of section 609 of the Retirement and Social Security Law permit the State Comptroller to adopt rules and regulations, interpreting the provisions of sections 446, 513 and 609, which are consistent with the intent thereof.

2 CRR-NY 316.2 Service credit determination for persons who last became members on or after July 1, 1973 {#sec-2-crr-ny-316.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 316.2}

(a) Preliminary service credit.

Preliminary service credit for a report period shall be expressed as a fraction, the numerator of which shall be the number of days worked on the payrolls paid in the report period and the denominator of which shall be 260. The Retirement System will determine this preliminary service credit using the number of days worked as reported by the employer in accordance with the provisions of Part 315 of this Title (2 NYCRR 315). In no event shall preliminary service credit exceed the fraction obtained by dividing the gross salary paid in the report period by the product of the State's minimum wage and 2,000 hours.

(b) Allowable service credit.

Service credit allowed within any fiscal year of the State shall be equal to the accumulated preliminary service credit within that year upon determination by the Retirement System that the amount of reported preliminary service is accurate.

2 CRR-NY 316.3 [Repealed] {#sec-2-crr-ny-316.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 316.3}

Part 317 SCHEDULING, ADJOURNING AND CONDUCT OF ADMINISTRATIVE HEARINGS

2 CRR-NY 317.1 Background {#sec-2-crr-ny-317.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.1}

Whereas, Sections 74 and 374 of the Retirement and Social Security Law direct that the Comptroller, upon timely receipt of a written demand, shall hold a hearing to review and redetermine an application for retirement allowance or other benefit provided by the Retirement and Social Security Law; and

Whereas, All such hearings should be conducted in such manner as to protect equally the interests of the applicant and of the retirement system, it being the primary purpose of any such hearing to establish a fair and adequate record for the proper disposition of the application; and

Whereas, In recent years there has been a significant increase in the number of demands for such hearings, and as a result many hearings are held each week throughout the State; and

Whereas, The volume of hearings requires that in the interest of justice reasonable regulations should be promulgated to establish the rules and procedures under which such hearings will be held; it is, therefore, hereby

Determined That the following rules shall be promulgated to determine the procedures which shall be observed and rules which shall be followed for the scheduling of and conduct of such hearings.

2 CRR-NY 317.2 Notice of hearings {#sec-2-crr-ny-317.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.2}

(a) After receipt of a timely written or electronic demand for a hearing and redetermination of an application, the retirement system shall notify the applicant, other parties and all counsel, if any, when a hearing on the application will be held.

(b) All notices of hearings shall specifically and plainly state the following:

(1) the purpose of the hearing;

(2) the time, place and date of the hearing;

(3) the right of the applicant to be represented by counsel;

(4) the procedure for obtaining an adjournment; and

(5) the consequences of the applicant's failure to appear at a scheduled hearing.

(c) Notices shall be mailed or electronically transmitted to the applicant, other parties and all counsel not less than three weeks before the date of the scheduled hearing.

(d) The statement of issue in the notice of hearing is intended for informational purposes. Issues may be raised or withdrawn during the course of the proceeding.

2 CRR-NY 317.3 Conduct of hearings {#sec-2-crr-ny-317.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.3}

(a) All hearings shall be conducted in an orderly manner. A hearing officer duly designated by the comptroller shall preside. A party may represent himself or herself, or be represented by an attorney licensed to practice law in the State of New York.

(b) All parties may present witnesses on their behalf. All witnesses shall testify under oath or by affirmation, and shall be subject to cross-examination by the other parties. The hearing officer has the discretion to question witnesses.

(c) A record of the proceedings shall be made and kept, and a copy shall be furnished to all parties and the hearing officer at the expense of the retirement system.

(d) All costs incurred in retaining counsel and presenting expert witnesses shall be the sole responsibility of the applicant or party.

(e) Motions may be made to the hearing officer at any time during the proceeding.

2 CRR-NY 317.4 Initial hearings—presentation of applicant's case {#sec-2-crr-ny-317.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.4}

(a) The term initial hearing shall be defined as the first scheduled hearing at which the official record of the case is opened by the hearing officer.

(b) At the initial hearing the applicant must be prepared to present all evidence and witnesses in support of his/her claim.

(c) Rebuttal evidence shall not be permitted.

2 CRR-NY 317.5 Adjournment before a scheduled hearing {#sec-2-crr-ny-317.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.5}

(a) The retirement system may adjourn or cancel a hearing at its discretion when it is not possible for the hearing to proceed as scheduled.

(b) A request for an adjournment by an applicant or a party other than the retirement system before a scheduled hearing must be:

(1) in writing, email or other acceptable electronic format; and

(2) received by the retirement system at least three business days before a scheduled hearing.

(c) An adjournment before any hearing shall be granted only by the retirement system.

(d) The applicant or a party other than the retirement system shall be granted only one adjournment as of right or without the necessity of providing an explanation.

(e) A second adjournment may be granted for cause.

(1) Cause is defined as unusual, unexpected, or unavoidable circumstances beyond the control of the applicant or the other party, such as: a death in the immediate family, serious illness, unavoidable temporary inability to obtain counsel, or inclement weather that prevents all reasonable travel. It does not include any event that can be prevented or mitigated by the timely taking of reasonable action.

2 CRR-NY 317.6 Scheduled hearings and adjournment requests at a hearing {#sec-2-crr-ny-317.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.6}

(a) The applicant and party other than the retirement system shall present its case at the initial hearing.

(1) In the event that a witness or evidence is not available at the time a hearing is scheduled, the applicant shall request an adjournment before the hearing as provided in section 317.5 of this Part.

(2) The hearing officer may in his or her discretion, and upon motion by the applicant or party, grant a continuance for additional witnesses to testify.

(i) The applicant or party granted the continuance must advise the retirement system within 45 days of the availability of the additional expert witness or the applicant or party's case will be deemed closed.

(ii) In the event that the retirement system is unable to schedule a hearing based on the availability dates provided by the applicant or other party, the retirement system will provide a written or electronic request for additional dates of availability.

(iii) The hearing officer has the discretion during a hearing to grant an adjournment of a hearing for cause, as defined by section 317.5(e)(1) of this Part.

(b) The applicant or party other than the retirement system may waive appearance at the hearing.

(1) Written or electronic requests to waive appearance must be received by the retirement system at least three business days prior to the scheduled hearing.

2 CRR-NY 317.7 Failure of applicant to appear {#sec-2-crr-ny-317.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.7}

(a) The failure of the applicant or his or her attorney to appear at an initial hearing without a timely and proper adjournment pursuant to section 317.5 of this Part will result in a dismissal of the application for failure to prosecute.

(b) After an initial hearing is held, failure to appear without an adjournment or waiver of appearance will result in the applicant's case being closed. The retirement system reserves the right to present its case.

2 CRR-NY 317.8 Presentation of retirement system's case {#sec-2-crr-ny-317.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.8}

(a) If the retirement system determines at the conclusion of the applicant's case that it should be necessary to conduct a subsequent hearing or hearings for the retirement system's witnesses, a hearing will be scheduled by the retirement system as soon as practicable at a time and place convenient to the retirement system's witness.

(b) At the conclusion of the retirement system's case, the hearing proceeding will be closed.

(c) After all parties have rested, and received a copy of the record; the parties may submit a memorandum of law, at the discretion of the hearing officer.

2 CRR-NY 317.9 Discovery of medical records {#sec-2-crr-ny-317.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 317.9}

(a) Upon the request of the applicant, the retirement system shall provide the report(s) of the physician(s) who examined the applicant at the request of the retirement system. The retirement system will also provide, at the applicant's request and expense, the records which were considered by the retirement system at the time of the initial determination of the disability application.

(b) The applicant shall provide the retirement system with a copy of all additional reports and documents to be offered into evidence, the reports and records (if different) of any medical witnesses testifying on the applicant, and the names of all witnesses, within the time frame specified by the retirement system.

Part 318 CONTINUOUS SERVICE

2 CRR-NY 318.1 Background {#sec-2-crr-ny-318.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 318.1}

Sections 60(f), 60-a, 60-b, 360(g), 360-a, 360-a, 441(c), 446(c)(i), 448(e), 508(e), 513(b)(i), 606(e) and 609(b) of the Retirement and Social Security Law relating to eligibility for retirement and death benefits contain or refer to the terms “continuous service” or “during which employment”. The strict requirement of continuous service or during which employment can have very inequitable consequences, as the result of which members of the retirement systems can lose eligibility for retirement or death benefits. Sections 11 and 311 of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System, respectively, permit the State Comptroller to adopt and amend rules and regulations for the administration of such retirement systems. Furthermore, the provisions of sections 446(e) and 513(d) of the Retirement and Social Security Law permit the State Comptroller to adopt rules and regulations, interpreting the provisions of sections 446 and 513 which are consistent with the intent thereof, subject to approval by the Permanent Commission on Public Employee Pension and Retirement Systems. As appears more particularly from the appended letters dated May 19, 1975, May 21, 1975, May 18, 1978, May 25, 1978 and December 19, 1991 (see Appendices 15, 15-A, 15-B, 15-C and 15-D infra), such approval has been issued, and this Part is hereby promulgated. Effective April 1, 1992, such pension commission is no longer in existence.

2 CRR-NY 318.2 Establishing eligibility for retirement benefits {#sec-2-crr-ny-318.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 318.2}

(a) A member of the New York State and Local Employees' Retirement System or New York State and Local Police and Fire Retirement System will be considered to have been engaged in “continuous service”, as that term is used in section 441(c) of the Retirement and Social Security Law, or to have rendered creditable service “during which employment” he became a member, as that term is used in sections 446-(c), 513(b) and 609(b) of such law, only for the purpose of establishing eligibility for a retirement benefit, if, during the period in question, he was eligible to receive service credit, and he met any of the following requirements:

(1) He received compensation for each day in the period.

(2) He worked a minimum of 1,000 hours per year, or a minimum of 700 hours per year with respect to individuals who are statutorily entitled to receive one year of actual service credit for rendering either 180 or 200 days of service in a year. For the purpose of this requirement a person shall be deemed to have received compensation for each day of a calendar month if he shall have earned at least 20 hours of salary during such a month. This 1,000-hour minimum will be based upon the State fiscal year, but will be prorated for less than a full State fiscal year in the case of the first and last year of employment. If a participating employer has not certified to the retirement system the number of hours worked by a member, the total hours worked during the State fiscal year will be determined by dividing the gross salary received in the State fiscal year by the member's hourly rate of pay, if known, or by the State's minimum wage during such period, if the member's hourly rate of pay is not known.

(b) In addition to meeting one of the requirements set forth in subdivision (a) of this section, a member who derives his eligibility to retire from the provisions of section 441(c) of such law, as interpreted by this section, must have rendered a minimum of five years of “service”, as that term is defined in section 441(c).

(c) The first 24 months (or last, as appropriate) during which the member was on authorized medical leave or on authorized leave status and receiving workers' compensation benefits shall not be considered in determining breaks in continuous service.

2 CRR-NY 318.3 Establishing eligibility for death benefits {#sec-2-crr-ny-318.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 318.3}

(a) A member of the New York State and Local Employees' Retirement System or New York State and Local Police and Fire Retirement System will be considered to have been engaged in “continuous service” as that term is used or referred to in sections 60(f), 60-a, 60-b, 360(g), 360-a, 360-b, 448(e), 508(e), and 606(e) of such law, only for the purpose of establishing eligibility for a death benefit, if, during the period in question, he was eligible to receive service credit, and he met any of the following requirements:

(1) He received compensation for each day in the period. For the purpose of this requirement a person shall be deemed to have received compensation for each day of a calendar month if he shall have earned at least 20 hours of salary during such a month.

(2) He received, or will receive, full service credit for such employment.

(3) He worked the applicable minimum number of hours per year provided in section 318.2(a)(2) of this Part. This minimum will be based upon the 12-month period immediately preceding his last day on the payroll prior to his death. If a participating employer has not certified to the retirement system the number of hours worked by a member, the total hours worked during the State fiscal year will be determined by dividing the gross salary received in the State fiscal year by the member's hourly rate of pay, if known, or by the State's minimum wage during such period, if the member's hourly rate of pay is not known.

(b) In addition to meeting one of the requirements set forth in subdivision (a) of this section, the member, if not on the payroll on the date of death, must not have been otherwise gainfully employed since he ceased to be on the payroll.

2 CRR-NY 318.4 Leave under the Family and Medical Leave Act of 1993 {#sec-2-crr-ny-318.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 318.4}

A member shall be deemed to have been in continuous service for the purposes of Retirement and Social Security Law, sections 446, 513 and 609 and for the purposes of determining when and whether an individual's membership shall terminate on account of absence from government service under section 40(f)(5) of the Retirement and Social Security Law or any similar provision of law or regulation, with respect to any period during which such member is on leave under the Family and Medical Leave Act of 1993 (Public Law 103-3). Notwithstanding the above, a member shall not be entitled to service credit for any period of unpaid leave taken pursuant to the Family and Medical Leave Act of 1993.

Part 319 CALCULATION OF DEATH BENEFITS FOR RETIREES RESTORED TO MEMBERSHIP

2 CRR-NY 319.1 Background {#sec-2-crr-ny-319.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 319.1}

(a) A person who enters or reenters public service on or after July 1, 1973 shall be deemed to be a new member of the Retirement System and subject to the provisions of article 11 of the Retirement and Social Security Law. Section 448 of the Retirement and Social Security Law provides for a death benefit to members of a retirement system who join or rejoin a retirement system on or after July 1, 1973 and who have rendered at least one year of service. The calculation of death benefits payable pursuant to section 448 is based upon the years of service rendered by the member.

(b) Section 60(a) of the Retirement and Social Security Law provides that when a retired member returns to service, total service credit, for the purpose of calculating his death benefit, shall include service rendered prior to his retirement, provided that he shall have rendered at least one year of service since he last became a member. The following rule establishes the terms and conditions by which the member will be entitled to former service credit in the calculation of his death benefit under section 448 of the Retirement and Social Security Law.

2 CRR-NY 319.2 Former service credit available {#sec-2-crr-ny-319.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 319.2}

(a) On or after July 1, 1973 any pensioner who returns to active public service, rejoins the Retirement System, renders at least one year of member service credit after restoration to active service, and has elected a death benefit pursuant to section 448 of the Retirement and Social Security Law, shall, upon his death while in service be entitled to full credit for all former service credit in the calculation of the death benefit.

(b) Such total service credit to which he is entitled shall be so credited only in the event the member returns to the Retirement System, with regular interest, the actuarial equivalent of the amount of the retirement allowance he received. In the event that such amount is not so repaid, the actuarial equivalent thereof shall be deducted from the death benefit. The provisions of this section shall be applicable only in the event the resulting death benefit will exceed the death benefit which would otherwise be payable.

Part 320 ADVISORY COUNCIL FOR THE NEW YORK STATE AND LOCAL RETIREMENT SYSTEMS

2 CRR-NY 320.1 Background and determination {#sec-2-crr-ny-320.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 320.1}

Whereas, sections 11 and 311 of the Retirement and Social Security Law establish the Comptroller as the administrative head of the New York State and Local Employees' Retirement System and New York State and Local Police and Fire Retirement System, with the power to obtain such necessary technical and management advice as he may require, and to adopt and amend rules and regulations for the administration and transaction of the business of these retirement systems; and

Whereas, during 1959 the Comptroller appointed an Advisory Council for the Retirement Systems to advise him and make recommendations to him concerning the formulation of policies in relation to the administration and management of these retirement systems; and

Whereas, the Comptroller now deems it desirable to expand the membership of the council, and to formalize its structure and operation; it is hereby

Determined and directed that a regulation be promulgated for the restructuring and continuation of the Advisory Council for the New York State and Local Retirement Systems, said council to advise and make recommendations to the Comptroller on the formulation of policies in relation to the administration and management of the retirement systems. This council shall have the membership, duties and convening procedures set forth in this Part.

2 CRR-NY 320.2 Membership {#sec-2-crr-ny-320.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 320.2}

The Advisory Council for the New York State and Local Retirement Systems shall consist of voting members and nonvoting members as provided in this Part. The members shall be appointed by the Comptroller for a term to coincide with the Comptroller's term of office; vacancies shall be filled by appointment to the unexpired portion of the Comptroller's term of office. The Comptroller may, from time to time, expand or reduce the number of voting and/or nonvoting members in a manner which will ensure that the membership of the council shall continue to reflect a broad base of informed perspectives. The council shall be chaired by the Comptroller and shall be composed of the following members:

(a) Employee representatives.

These representatives shall be public employees and members of either the New York State and Local Employees' Retirement System or New York State and Local Police and Fire Retirement System and shall be selected as follows. Each of the five employee organizations identified below shall recommend a candidate for appointment. The Comptroller shall appoint the following employee representatives, who shall all be members of either the New York State and Local Employees' Retirement System or the New York State and Local Police and Fire Retirement System, at least two of whom shall be members of the New York State and Local Employees' Retirement System and at least two of whom shall be members of the New York State and Local Police and Fire Retirement System, one to be chosen from each list submitted by the Civil Service Employees Association, the New York State Police Conference, the New York State Professional Fire Fighters Association, Inc., Council 82 of the American Federation of State, County and Municipal Employees, and the Public Employees Federation. An employee representative shall retain such membership on the Council for his appointed term only so long as (1) he remains a public employee, and (2) he continues to be represented by his sponsoring employee organization. Notwithstanding the above, an employee representative may retain membership on the council after retirement if the sponsoring employee organization so elects.

(b) Municipal representatives.

The Comptroller shall appoint four such representatives, who shall be the executive directors of the New York State Association of Counties, the New York State Conference of Mayors, the New York State Association of Towns and the New York State School Boards Association.

(c) State and agency representatives.

The Comptroller shall appoint two such representatives, one to be the President of the New York State Civil Service Commission, and the other to be an officer of a public authority which is a participating employer, and who shall be experienced in the field of employee benefits and public administration.

(d) Pensioner representative.

The Comptroller shall appoint one such representative who shall be the President of the Retired Public Employees' Association, Inc.

(e) Business representatives.

The Comptroller shall appoint two such representatives who shall be from the public business sector and who shall be experienced in pension and/or personnel matters.

(f) Labor and business organization representatives.

The Comptroller shall appoint four such representatives who shall be the President of the AFL-CIO, the President of the Business Council of New York State, an official from District Council 37 of the American Federation of State, County and Municipal Employees and an official from the Metropolitan Police Conference of New York State, Inc.

(g) Legislative representatives.

The Comptroller shall also appoint two nonvoting legislative representatives who shall be the chairman of the New York State Senate's Civil Service Committee and the chairman of the New York State Assembly's Committee on Governmental Employees.

2 CRR-NY 320.3 Duties {#sec-2-crr-ny-320.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 320.3}

(a) The Advisory Council for the Retirement Systems shall advise the Comptroller on various retirement matters, including but not limited to:

(1) types and costs of retirement benefits;

(2) the impact of retirement programs on the State of New York and the various participating employers;

(3) social security matters as they relate to members and pensioners;

(4) services provided to members, pensioners, beneficiaries and employers;

(5) State and Federal relationships as they relate to Federal involvement with public retirement in New York State;

(6) generally, subjects of retirement, income after retirement, disability and death benefits, and other related matters; and

(7) the administration of the retirement systems.

(b) The council shall offer advice on subjects and matters other than those which are the responsibility of, or which have been delegated to, the Investment Advisory Committee, the Mortgage Advisory Committee, or the Actuarial Advisory Committee.

2 CRR-NY 320.4 Convening of the council {#sec-2-crr-ny-320.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 320.4}

The Advisory Council for the New York State and local Retirement Systems shall convene periodically at the request of the Comptroller. The members of the council shall be entitled to reimbursement for their actual and necessary expenses, but they shall receive no compensation for their services.

2 CRR-NY 320.5 Code of ethics {#sec-2-crr-ny-320.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 320.5}

The Comptroller shall adopt a code of ethics setting forth standards of conduct for members of the Advisory Council for the New York State and Local Retirement Systems to avoid potential conflicts between the financial and other personal interests of members of the council and the interests of the members and beneficiaries of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System. The Comptroller may, in his discretion, amend the code of ethics from time to time. Copies of the code of ethics shall be provided to each person serving on the Advisory Council, and such persons shall acknowledge receipt of a copy of the code of ethics and shall be bound by the provisions thereof.

Part 321 VESTED BENEFITS

2 CRR-NY 321.1 Background {#sec-2-crr-ny-321.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 321.1}

The Retirement and Social Security Law provides that members of the Retirement System become eligible under certain circumstances for a vested retirement allowance, or for a particular service retirement allowance for service credited in a specified retirement plan. However, some members of the Retirement System, having become eligible for such benefits, subsequently terminate their employment with the participating employer in whose employ they have established such eligibility, and then either commence or continue in the employ of a different participating employer which offers its employees a retirement plan which provides less favorable benefits. When such a member of the Retirement System then applies for retirement, his retirement allowance is determined in accordance with the retirement plan of the employer by which he was last employed. Since it would be inequitable, and inconsistent with the intent of the Legislature, to provide such a member with a retirement allowance which is less than that to which he was entitled by virtue of his eligibility at the time he terminated his employment with the participating employer with which he had earned such status, and since sections 11 and 311 of the Retirement and Social Security Law permit the State Comptroller to adopt and amend rules and regulations for the administration of the New York State Employees's Retirement System and the New York State Policemen's and Firemen's Retirement System, the following method of determining a member's retirement allowance in such circumstances is hereby promulgated.

2 CRR-NY 321.2 Determination of retirement allowance {#sec-2-crr-ny-321.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 321.2}

In the event that a member of the Retirement System:

(a) has become eligible for a vested retirement allowance or for a certain service retirement allowance in accordance with any of the retirement plans set forth in the Retirement and Social Security Law;

(b) subsequently terminates his employment with the participating employer with which he has earned such status;

(c) then either commences or continues employment with another participating employer which offers a retirement plan providing less favorable benefits; and

(d) the member then applies for service retirement;

the member's retirement allowance shall be determined in accordance with the method set forth in the retirement plan provided by the participating employer by which he was last employed prior to retirement; provided, however, that in no event shall the retirement allowance of such a member be less than that to which the member was entitled by virtue of his status as an employee at the time he terminated his employment with the participating employer with which he had earned such status.

Part 322 PAYMENT OF THE ORDINARY DEATH BENEFIT UPON THE DEATH OF CERTAIN RETIREES

2 CRR-NY 322.1 Background {#sec-2-crr-ny-322.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 322.1}

(a) The provisions of sections 90 and 390 of the Retirement and Social Security Law permit a retiring member to select an optional settlement of his retirement allowance. Such an option selection is to be filed with the Comptroller any time before the first payment of a benefit becomes normally due, except that in the case of retirement on account of disability, such an election may be made within 30 days after mailing by the Comptroller of notification of approval of retirement on account of disability. To assist retiring members in the selection of an option, the Retirement System prepares an estimate of benefits which will be available to the applicant. The estimate sets forth the information which is necessary and pertinent for the member to select the retirement settlement most suited for him and his beneficiary.

(b) In the event a retired member dies within 30 days after the effective date of his retirement, and before his optional election becomes effective, sections 60 and 360 of the Retirement and Social Security Law, among other things, provide that his designated beneficiary shall be entitled to the ordinary death benefit. However, should a retired member die more than 30 days after the effective date of retirement, and without having selected an option, sections 90 (bb [2]) and 390 (bb [2]) mandate that he be deemed to have been retired under option one-half, which provides only for the return of the member's accumulated contributions, if any. In this latter case, no benefit will be paid to the beneficiary of a noncontributory member, since he will have had no accumulated contributions to his credit. Based upon the authority set forth in sections 90 (bb [1]) and 390 (bb [1]), this Part is promulgated to ensure that the provisions of sections 90 (bb [2]) and 390 (bb [2]) will not become applicable in the case of a pensioner who dies within 60 days following the effective date of retirement without making an effective election of an option, and:

(1) who had not been furnished with a retirement estimate within one year prior to the date of retirement; or

(2) who was furnished with a retirement estimate less than 14 days prior to the date of death.

2 CRR-NY 322.2 Payment of the ordinary death benefit upon the death of certain retirees {#sec-2-crr-ny-322.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 322.2}

On or after January 1, 1976, upon the death of a pensioner within 60 days following the effective date of retirement who had not made an effective election of an option, and who:

(a) had not been furnished with a retirement estimate within one year prior to the date of retirement; or

(b) was furnished with a retirement estimate less than 14 days prior to the date of death;

the ordinary death benefit shall be paid to his designated beneficiary as provided in sections 60(a) and 360(a) of the Retirement and Social Security Law.

Part 323 COMMENCEMENT DATE OF MEMBER CONTRIBUTIONS UNDER ARTICLE 14, THE COORDINATED-ESCALATOR RETIREMENT PLAN

2 CRR-NY 323.1 Background {#sec-2-crr-ny-323.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 323.1}

Section 517 of the Retirement and Social Security Law requires that members covered by the provisions of article 14 of the Retirement and Social Security Law contribute three percent of annual wages to the retirement system in which they have membership. Section 517 also empowers the head of a retirement system to promulgate such regulations as may be necessary and appropriate with respect to the deduction of such contributions from members' wages.

2 CRR-NY 323.2 Commencement of contributions {#sec-2-crr-ny-323.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 323.2}

Since few payrolls begin on January 1, 1977, the effective date of article 14, the commencement of contributions as of that date would present an obstacle to the implementation of the coordinated-escalator retirement plan. Therefore, the contributions required by section 517 shall be deducted beginning with the first full payroll period in 1977 with respect to which payment is made in 1977.

2 CRR-NY 323.3 Effective date {#sec-2-crr-ny-323.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 323.3}

This Part shall be effective January 1, 1977.

Part 324 MEMBERSHIP IN THE NEW YORK STATE EMPLOYEES' RETIREMENT SYSTEM FOR PERSONS EMPLOYED ON OR AFTER JULY 1, 1976

2 CRR-NY 324.1 Background {#sec-2-crr-ny-324.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 324.1}

(a) Section 500(b) of the Retirement and Social Security Law provides that persons who enter positions in public employment on or after July 1, 1976 with the State or a public employer which participates in the New York State Employees' Retirement System, shall be enrolled in the membership of the Retirement System if they are engaged in full-time positions. Persons employed on or after such date in positions involving less than full-time work shall be permitted to become members of the New York State Employees' Retirement System by filing an application therefor in the manner provided for by section 40 of such law. Section 600(b) of the Retirement and Social Security Law provides similar membership criteria for individuals subject to article 15 of the Retirement and Social Security Law.

(b) This rule is promulgated to establish the criteria whereby the status of a person employed on or after July 1, 1976 may be readily ascertained and such person's membership properly implemented, and is based upon the more detailed provisions of Parts 315 and 316 of this Title.

2 CRR-NY 324.2 Part-time employment {#sec-2-crr-ny-324.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 324.2}

A person who enters the employ of the State or a participating employer on or after July 1, 1976 shall be deemed to be in part-time employment if:

(a) such employee is employed in a position for which the employer has determined that the employee will not be required to work 30 or more hours per week;

(b) such employee will work less than the standard number of hours per week established by the employer, pursuant to section 315.3 of this Title, for the position in which such service is rendered;

(c) such employee (including elected or appointed public officers) will be employed in a position for which the annual rate of compensation is less than the product of the State's minimum wage during such period, and 2,000 hours;

(d) such employee is employed in a position which will be terminated within one year of the date of commencement thereof;

(e) such employee is employed provisionally, as authorized in section 65 of the Civil Service Law, or on a temporary basis, as authorized in section 64 of the Civil Service Law; or

(f) such employee is employed in a position the nature of which is such that his employment will be on less than a 12-month per year basis.

2 CRR-NY 324.3 Full-time employment {#sec-2-crr-ny-324.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 324.3}

A person who enters the employ of the State or a participating employer on or after July 1, 1976, and who is not engaged in part-time employment as set forth in section 324.2 of this Part, shall be deemed to be in full-time employment.

2 CRR-NY 324.4 Mandatory membership {#sec-2-crr-ny-324.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 324.4}

Those persons who are deemed to be in full-time employment pursuant to section 324.3 of this Part shall be mandatory members of the New York State Employees' Retirement System.

2 CRR-NY 324.5 Permissive membership {#sec-2-crr-ny-324.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 324.5}

Those persons who are deemed to be in part-time employment pursuant to section 324.2 of this Part shall be entitled to join the New York State Employees' Retirement System, and they shall be so advised by their employer. Their membership shall become effective upon the filing of an application therefor.

Part 325 IDENTIFICATION OF MEMBERSHIP TIERS

2 CRR-NY 325.1 Background {#sec-2-crr-ny-325.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 325.1}

Whereas the Retirement and Social Security Law provides for six separate and distinct levels of membership and benefits with respect to members of the New York State and Local Employees' Retirement System, and five separate and distinct levels of membership with respect to members of the New York State and Local Police and Fire Retirement System; and whereas the judicial decisions in Oliver v. County of Broome, 113 AD2d 239, lv denied 67 NY2d 607, appeal dismissed 67 NY2d 1027, held that the State Constitution prohibits the application of article 14 of the Retirement and Social Security Law, which was not signed into law until July 26, 1976, in any manner which would diminish the rights or benefits of individuals who joined the New York State and Local Employees' Retirement System on or after July 1, 1973 and before July 27, 1976; and whereas the application of the Oliver principle to chapter 1046 of the Laws of 1973, which purported to apply the limitations of article 11 of the Retirement and Social Security Law to individuals who joined the New York State and Local Police and Fire Retirement System on or after July 1, 1973, but which was not signed into law until July 31, 1973, requires that individuals who joined the New York State and Local Police and Fire Retirement System on or before July 31, 1973 may not have their tier rights and benefits diminished under the provisions of article 11 of such law; and whereas it is necessary to identify the members subject to specific provisions, benefits and limitations of the Retirement and Social Security Law, this regulation is promulgated to identify and define the levels of membership within the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System.

2 CRR-NY 325.2 Tiers of membership in New York State and Local Employees' Retirement System {#sec-2-crr-ny-325.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 325.2}

(a) Members who last joined the New York State and Local Employees' Retirement System on or before June 30, 1973 shall be identified as tier one members.

(b) Members who last joined the New York State and Local Employees' Retirement System on or after July 1, 1973, but before July 27, 1976, shall be identified as tier two members.

(c) Members who last joined the New York State and Local Employees Retirement System on or after July 27, 1976, but before September 1, 1983, shall be identified as tier three members, except for those members who have irrevocably waived coverage under article 14 of the Retirement and Social Security Law in connection with electing a special plan provided under article 15 of such law.

(d) Members who:

(1) last joined the New York State and Local Employees' Retirement System on or after September 1, 1983, but before January 1, 2010; or

(2) joined such system on or after July 27, 1976 and before September 1, 1983 and who irrevocably waived coverage under article 14 of the Retirement and Social Security Law and elected coverage under a special plan provided under article 15 of such law, shall be identified as tier four members.

(e) Members who last joined the New York State and Local Employees' Retirement System on or after January 1, 2010, but before April 1, 2012, shall be identified as tier five members.

(f) Members who last joined the New York State and Local Employees' Retirement System on or after April 1, 2012 shall be identified as tier six members.

2 CRR-NY 325.3 Tiers of membership in New York State and Local Police and Fire Retirement System {#sec-2-crr-ny-325.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 325.3}

(a) Members who last joined the New York State and Local Police and Fire Retirement System on or before July 31, 1973 shall be identified as tier one members.

(b) Members who last joined the New York State and Local Police and Fire Retirement System on or after August 1, 1973, but before July 1, 2009, shall be identified as tier two members.

(c) Members who last joined the New York State and Local Police and Fire Retirement System on or after July 1, 2009, but before January 9, 2010, shall be identified as tier three members except for those members who have opted to be covered by the provisions of article 22 on or before May 9, 2010.

(d) Members who:

(1) last joined the New York State and Local Police and Fire Retirement System on or after January 9, 2010, but before April 1, 2012, shall be identified as tier five members;

(2) joined such system on or after July 1, 2009, but before January 9, 2010, and who have opted to be covered by the provisions of article 22 on or before May 9, 2010, shall be identified as tier five members.

(e) Members who last joined the New York State and Local Police and Fire Retirement System on or after April 1, 2012 shall be identified as tier six members

Note: there is no tier four membership in the New York State and Local Police and Fire Retirement System.

Part 326 COORDINATED-ESCALATOR RETIREMENT PLAN (CO-ESC) MEMBERSHIP CONTRIBUTIONS AND WITHDRAWALS

2 CRR-NY 326.1 Background and determination {#sec-2-crr-ny-326.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 326.1}

Section 517 of the Retirement and Social Security Law, as added by section 9 of Chapter 890 of the Laws of 1976, directs and authorizes the State Comptroller to promulgate regulations necessary with respect to deductions of contributions from the wages of members who participate in the CO-ESC retirement plan, provided for by article 14 of the law, and maintenance of any special fund(s) with respect to amounts contributed.

Section 517 further authorizes the State Comptroller to promulgate regulations regarding the withdrawal and refund of CO-ESC contributions in the event of termination of public employment and Retirement System membership of such members who are not vested or entitled to any other benefit under article 14 of the Retirement and Social Security Law.

2 CRR-NY 326.2 Member contributions {#sec-2-crr-ny-326.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 326.2}

Members of the New York State Employees' Retirement System who are enrolled in the retirement plan provided for by article 14 of the law shall contribute three percent of their annual wages to the Retirement System. Such contributions shall not be required for more than 30 years.

2 CRR-NY 326.3 CO-ESC contribution fund and accounts {#sec-2-crr-ny-326.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 326.3}

A special fund known as the CO-ESC contribution fund is hereby established for the purpose of receiving such member contributions. This fund shall contain all monies received on account of CO-ESC contributions which have been deducted from members' wages. Subsidiary accounts within this fund for individual members shall be established and designated CO-ESC contributions accounts.

2 CRR-NY 326.4 Withdrawal and refund of CO-ESC contributions {#sec-2-crr-ny-326.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 326.4}

In the event of termination of employment other than as a result of transfer to another public employer, a member participating in the retirement plan provided for in article 14 of the Retirement and Social Security Law, who is not vested or entitled to any other benefit under article 14, may withdraw his CO-ESC contributions and terminate his membership in the New York State Employees' Retirement System by filing a form prescribed by the Retirement System for this purpose. Such a request may be made after the member has been separated from service for at least 15 days. The Retirement System shall thereupon refund the CO-ESC contributions.

2 CRR-NY 326.5 Refund of member's contributions on death of the member {#sec-2-crr-ny-326.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 326.5}

In the event of termination of membership with New York State Employees' Retirement System by the death of a member participating in the retirement plan provided for in article 14 of the Retirement and Social Security Law, where no application for death benefits has been approved by the Comptroller on account of such member's death and where there are no individual's eligible to receive death benefits on account of such member's death under the provisions of article 14 of the Retirement an Social Security Law and the regulations promulgated thereunder, accumulated contributions shall be refunded to the beneficiary duly designated by the member on a form prescribed by and filed with the Retirement System for this purpose. In the absence of such designation of beneficiary, any accumulated contributions made by the deceased member shall be refunded to his estate. Such duly designated beneficiary or, in the absence thereof, the estate's legal representative, must file a written request for such a refund with the Retirement System on a form prescribed by the Retirement System for this purpose. The Retirement System shall thereupon refund the accumulated contributions.

2 CRR-NY 326.6 Interest on refunded accumulated contributions {#sec-2-crr-ny-326.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 326.6}

The accumulated contributions withdrawn as provided for by sections 326.4 and 326.5 of this Part shall be refunded with interest at the rate of five percent per annum.

2 CRR-NY 326.7 Restoration of credit for previous service {#sec-2-crr-ny-326.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 326.7}

Membership in the New York State Employees' Retirement System shall cease upon withdrawal of contributions pursuant to these regulations. A former member who thereafter returns to public service shall not receive any credit for previous service to which such withdrawn and refunded contributions applied unless and until such former member applies for such credit and repays the entire amount withdrawn and refunded, together with interest through the date of repayment at the rate of five percent per annum.

Part 328 ALLOWANCE OF SERVICE CREDIT FOR AUTHORIZED LEAVE OF ABSENCE WITHOUT PAY

2 CRR-NY 328.1 Background {#sec-2-crr-ny-328.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 328.1}

(a) Subparagraphs (b) and (d) of section 41(i)(1) and 341(i)(1) of the Retirement and Social Security Law, hereinafter referred to as subparagraphs (b) and subparagraphs (d), provide that time during which a member of the Retirement System is on an official leave of absence without pay from his or her position may be included in the computation of member service and final average salary. Subparagraphs (b) provide that the time spent on such a leave may be so included only if the head of the department in which such member is employed, and the State Comptroller, allow such time for retirement purposes at the time such leave is granted. Subparagraphs (d) provide that the time spent on certain specified types of such leave may be so included only if:

(1) the leave is granted for not more than two years;

(2) the State Comptroller allows inclusion of such time for retirement purposes at the time such leave is granted; and

(3) certain required payments are made to the Retirement System.

(b) The purpose of these provisions of law is to permit Retirement System members, under certain circumstances and with the express prior approvals noted above, to leave the service of the State or a participating employer temporarily, and continue to accrue retirement credit during such leave, since the experience and training gained as a result thereof will be of benefit to the State or participating employer upon the employee member's return to public service. The granting of such credits during the time spent on such leaves is contingent upon the employee member's actual return to service with the State or the participating employer and to the actual performance of the duties of his or her position.

(c) This regulation is promulgated to establish the guidelines applicable in granting credit for service and final average salary for the period of an authorized leave of absence without pay.

2 CRR-NY 328.2 Requests for and approval of leaves pursuant to subparagraphs (b) {#sec-2-crr-ny-328.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 328.2}

Upon the certification of the head of the department in which the member is employed, that the experience gained and/or training undertaken by the employee, while on such leave, will be of eventual benefit to that public employer, the Retirement System will approve such leave on a contingent basis. A request for such an approval must be filed with the State Comptroller prior to the commencement of the leave. Approval will not be granted for a leave of more than two years.

2 CRR-NY 328.3 Requests for and approval of leaves pursuant to subparagraphs (d) {#sec-2-crr-ny-328.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 328.3}

Upon a finding by the State Comptroller that the experience gained and/or training undertaken by the employee, while on such leave, will be of eventual benefit to his or her public employer, the Retirement System will approve such leave on a contingent basis. A request for such an approval must be filed with the State Comptroller prior to the commencement of the leave. Approval will not be granted for a leave of more than two years.

2 CRR-NY 328.4 Return to public service {#sec-2-crr-ny-328.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 328.4}

Upon termination of an approved leave of absence without pay, the employee member must return to the public service from which he or she was granted the leave. Credit will not be given for service or final average salary purposes unless the employee member actually returns to the payroll of such public employer and actually engages in the performance of his or her official duties. A return to the payroll of the State or a participating employer for the sole purpose of exhausting vacation, sick leave or other similar benefits, will not qualify the employee member for such credits. A failure to return to the service of the State or a participating employer upon termination of an approved leave of absence, as provided herein, will result in the revocation of the contingent approval previously granted.

2 CRR-NY 328.5 Ordinary death benefit {#sec-2-crr-ny-328.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 328.5}

An employee member whose leave of absence without pay has been approved pursuant to subparagraphs (d) will be covered by the ordinary death benefit, in accordance with the provisions of sections 60(a)(2) and 360(a)(2) of the Retirement and Social Security Law. An employee member whose leave of absence without pay has been approved pursuant to subparagraphs (b) will not be covered by the ordinary death benefit during the period of such leave.

Part 329 INDEMNIFICATION BONDS

2 CRR-NY 329.1 Background {#sec-2-crr-ny-329.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 329.1}

(a) Section 111(a) of the Retirement and Social Security Law, as added by chapter 947 of the Laws of 1956, and section 412 of the Retirement and Social Security Law, as added by chapter 1000 of the Laws of 1966, provide that in any case where the Retirement System is required by order of a court of competent jurisdiction to pay over a benefit which is payable in installments, and which is predicated upon the life of a beneficiary to a payee other than the recipient who ordinarily would have taken the benefit pursuant to the provisions of this Article, such payee must file a bond indemnifying the Comptroller against loss by reason of excess payments to such payee. Experience has shown that it is virtually impossible for the payee to secure such bonds from surety companies.

(b) Section 14 of the General Construction Law provides that whenever a provision of law requires the filing of a bond, the execution of an undertaking to the same effect should be deemed compliance (Burns v. Watertown, 213 N.Y.S. 90; Tully v. Lewitz, 198 N.Y.S. 829). The term undertaking is defined in section 2501 of the Civil Practice Law and Rules to be any instrument which evidences an agreement by any person to be bound in a stated amount upon the failure of the condition of the instrument. To lessen the burden of securing a surety bond, compliance with the mandates of sections 111-a and 412 of the Retirement and Social Security Law may be had by the filing of an indemnification agreement prepared by the Comptroller.

2 CRR-NY 329.2 Indemnification agreements as compliance with sections 111-a and 412 of the Retirement and Social Security Law {#sec-2-crr-ny-329.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 329.2}

Payees required to file a bond pursuant to section 111(a) and section 412 of the Retirement and Social Security Law may comply with such filing by executing two indemnification agreements on a form prescribed by the Comptroller. The agreements shall be in favor of the Comptroller as administrative head of the Retirement System and shall indemnify him in full, with interest against loss by reason of excess payments to such payee.

2 CRR-NY 329.3 Procedure for execution, qualification of indemnitors {#sec-2-crr-ny-329.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 329.3}

Each indemnitor must have assets in excess of the total amount the payee is expected to receive for a period of two years. The indemnification agreements must be executed by two individuals other than the payee and be approved by the court. The agreements must be filed with the clerk of the court and a certified copy thereof served upon the Comptroller. Each indemnitor shall designate the clerk of the court and his successors in office as a person upon whom service of any process issuing from the court may be made in like manner, and with like effects as if served personally upon the indemnitor whenever such indemnitor after the exercise of due diligence cannot be found and served within the State of New York.

Part 330 REAL ESTATE ADVISORY COMMITTEE

2 CRR-NY 330.1 Background and determination {#sec-2-crr-ny-330.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 330.1}

(a) Whereas, the Retirement and Social Security Law establishes the Comptroller as trustee and administrative head of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System, with power to adopt rules and regulations for, among other things, the transaction of business of the systems and the custody and control of their funds (Retirement and Social Security Law, sections 11, 13, 311, 313);

(b) Whereas, the “Common Retirement Fund” Act (sections 420 et seq. of the Retirement and Social Security Law) establishes under the custody of the Comptroller, as trustee, a Common Retirement Fund consisting of the assets of the two systems;

(c) Whereas, the Comptroller in 1959 established the Mortgage Advisory Committee to advise him in regard to investments in mortgages and real estate;

(d) Whereas, the “Common Retirement Fund” Act was amended in 1970 to give statutory status to the committee, providing that the Comptroller shall appoint a Mortgage Advisory Committee with the advice and consent of the Investment Advisory Committee to review proposed mortgage and real estate investments by the Common Retirement Fund; and

(e) Whereas, because the Mortgage Advisory Committee reviews proposed real estate investments as well as proposed mortgage investments by the Common Retirement Fund, the committee is more appropriately referred to as the “Real Estate Advisory Committee”; and

(f) Whereas, in order to accomplish the purpose of such amendment and to provide more specifically for the organization and operation of the Real Estate Advisory Committee, the Comptroller desires to establish rules in regard to such matters as the number of members of the committee, their appointment, the procedures whereby the committee transacts its business, the review of committee recommendations, ethical standards, and other related matters—this Part is hereby adopted.

2 CRR-NY 330.2 Membership {#sec-2-crr-ny-330.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 330.2}

The Real Estate Advisory Committee shall consist of not less than seven members. Members shall be appointed by the Comptroller, with the advice and consent of the Investment Advisory Committee, and shall serve for his term of office. Any vacancy shall be filled by appointment by the Comptroller with the advice and consent of the Investment Advisory Committee for the remainder of the term. No officer of any State department or agency shall be eligible for membership on the committee. Members shall be entitled to reimbursement for their actual and necessary expenses, but shall receive no compensation for their services.

2 CRR-NY 330.3 Meeting and action of committee {#sec-2-crr-ny-330.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 330.3}

The committee shall convene periodically upon the call of the Comptroller. A quorum for a meeting shall consist of four members. The committee shall act only upon the affirmative vote of a majority of the members in attendance or of four members, whichever is greater; provided that members may participate in a meeting and vote on any matter before the committee at such meeting by means of conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time and participation by such means shall constitute attendance at such meeting.

2 CRR-NY 330.4 Duties {#sec-2-crr-ny-330.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 330.4}

The committee shall review and advise the Comptroller on proposed mortgage and real estate investments by the Common Retirement Fund. In making investments as authorized by law, the Comptroller shall be guided by policies established by the committee from time to time and, in the event the committee disapproves a proposed mortgage or real estate investment, such investment shall not be made.

2 CRR-NY 330.5 Review of committee recommendations {#sec-2-crr-ny-330.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 330.5}

Subsequent to any meeting of the committee, the Deputy Comptroller shall independently review the investments affirmatively recommended by the committee. Such recommendations shall be considered advisory only, and the Comptroller may, within his sole discretion, refuse to make any such investment.

2 CRR-NY 330.6 Code of ethics {#sec-2-crr-ny-330.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 330.6}

The Comptroller shall adopt a code of ethics setting forth standards of conduct for members of the Real Estate Advisory Committee to avoid potential conflicts between the financial and other personal interests of members of the committee and the interests of the members and beneficiaries of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System. The Comptroller may, in his discretion, amend the code of ethics from time to time. Copies of the code of ethics shall be provided to each person serving on the Real Estate Advisory Committee, and such persons shall acknowledge receipt of a copy of the code of ethics and shall be bound by the provisions thereof.

2 CRR-NY 330.7 [Repealed] {#sec-2-crr-ny-330.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 330.7}

Part 331 GOOD CAUSE FOR FAILURE TO FILE TIMELY NOTICE OF ACCIDENT AS REQUIRED BY SECTIONS 63(C) AND 363(C) OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 331.1 Background {#sec-2-crr-ny-331.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 331.1}

Whereas, sections 63(c) and 363(c) of the Retirement and Social Security Law require timely filing of written notice of accident with the Comptroller as a prerequisite to the granting of accidental disability retirement, and whereas members had failed to file proper notice with the Comptroller, through no fault of their own, and whereas chapter 462 of the Laws of 1980 has amended sections 63(c) and 363(c) to provide that a failure to file timely notice may be excused for good cause shown as provided by rules and regulations promulgated by the Comptroller, and whereas this amendment is to apply to accidents which occur on or after September 1, 1980, this Part is promulgated to establish the standard by which failure to file timely notice of accident will be excused for good cause.

2 CRR-NY 331.2 Good cause defined {#sec-2-crr-ny-331.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 331.2}

Failure to file timely notice of accident in accordance with the provisions of sections 63(c) and 363(c) of the Retirement and Social Security Law will be excused for good cause shown when it is established that:

(a) the applicant became hospitalized within a week after the date of accident and remained so hospitalized for 60 days thereafter; or

(b) the applicant, within 30 days after the date of the accident, filed written notice with his employer setting forth the particulars of the time, place, nature and cause of the accident and the nature of the injury. This notice must be signed by the injured employee or by someone on his behalf. The applicant or applicant's employer being unaware of the requirements of sections 63(c)(b)(1) and 363(c)(b)(1) of the Retirement and Social Security Law or this Part, regarding timely filing of notice of accident, shall not constitute good cause for failure to file timely notice.

2 CRR-NY 331.3 Effective date {#sec-2-crr-ny-331.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 331.3}

The provisions of this Part shall be applicable to accidents which occur on or after September 1, 1980.

Part 332 ORDINARY DISABILITY RETIREMENT COVERAGE FOR CERTAIN MEMBERS OF THE DIVISION OF STATE POLICE

2 CRR-NY 332.1 Background {#sec-2-crr-ny-332.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 332.1}

Section 363-b of the Retirement and Social Security Law provides disability retirement coverage to members of the Division of State Police in lieu of the coverage provided by sections 362 and 363 of the Retirement and Social Security Law. Section 363-b(b)(2)(b) requires five years of service in the Division of State Police as a condition precedent of eligibility for nonservice-connected disability coverage.

Certain members transfer to the Division of State Police from other member police service. Those members may have 10 years of service credit which makes them eligible for ordinary disability retirement coverage under section 362 of the Retirement and Social Security Law, or they may, within five years of joining the State Police, attain such eligibility.

Section 5 of Article 7 of the State Constitution establishes a contractual relationship for retirement benefits and provides that no such benefit may be diminished. The application of section 363-b to persons with less than five years of service in the Division of State Police often deprives members of benefits for which they were otherwise qualified.

This Part is promulgated to insure that those members of the Division of State Police who were otherwise eligible for ordinary disability retirement coverage prior to their transfer to the Division of State Police or during their first five years of service in the Division of State Police, retain eligibility for ordinary disability retirement coverage pursuant to the provisions of section 362 of the Retirement and Social Security Law until they have accumulated five years of total service credit in the division, provided they remain in service.

2 CRR-NY 332.2 Ordinary disability retirement eligibility {#sec-2-crr-ny-332.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 332.2}

Members of the Division of State Police with sufficient service credit to satisfy the requirements of section 362 of the Retirement and Social Security Law may file for ordinary disability retirement pursuant to that section until they have accumulated five years of total service credit in the Division of State Police. Such members must actually be in service at the time the application is filed.

Part 333 PAYMENT OF INTEREST ON DEATH BENEFITS

2 CRR-NY 333.1 Background {#sec-2-crr-ny-333.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 333.1}

Sections 61-a and 361-a of the Retirement and Social Security Law, as added by chapter 602 of the Laws of 1978, provide for the payment of interest for unpaid accidental and ordinary death benefits, to accrue from the date of death of the member until payment is made. These sections direct that the amount of interest shall be at the rate provided for by section 3-a(1) of the General Municipal Law. Section 3-a(1) of the General Municipal Law, as amended by chapter 681 of the Laws of 1982, provides for a rate of interest that shall not exceed three percent per annum prior to April 1, 1983, and for a rate of interest that shall not exceed nine percent per annum commencing April 1, 1983. The Retirement System has paid, and will continue to pay, the maximum three percent per annum interest on unpaid death benefits of a member whose death occurs prior to April 1, 1983. This Part is promulgated to provide for an increase in the rate of interest on the unpaid death benefits of any member whose death occurs on or after April 1, 1983.

2 CRR-NY 333.2 Payment of interest on death benefits {#sec-2-crr-ny-333.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 333.2}

The rate of interest for unpaid accidental and ordinary death benefits, to accrue from the date of death of the member until payment of the benefit is made, is as follows:

(a) for those benefits due as a result of death prior to April 1, 1983, three per centum per annum; and

(b) for those benefits due as a result of death on or after April 1, 1983, five per centum per annum.

Part 334 WITHDRAWAL OF EXCESS CONTRIBUTIONS

2 CRR-NY 334.1 Background {#sec-2-crr-ny-334.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 334.1}

Subdivision (c)(3) of section 51 of the Retirement and Social Security Law provides that excess contributions may be withdrawn by a member at any time prior to retirement; if not so withdrawn, excess contributions are used to purchase additional annuity. To assist retiring members in the selection of an optional settlement of their retirement benefit, the Retirement System prepares and forwards to the member an estimate of benefit plans available upon retirement. The estimate also sets forth the amount of the additional annuity which may be purchased with excess contributions not withdrawn before retirement. When available prior to the effective date of retirement, the estimate will bear on a member's decision to either withdraw excess contributions or accept the annuity. In some instances, however, a member may receive the estimate too near the effective date of retirement to permit an intelligent, informed decision to be made and communicated to the Retirement System; or, the estimate may not be received until after the effective date of retirement, in which case the member is precluded from withdrawing the excess contributions and must accept the annuity, however disadvantageous it may be. The proposed regulation is promulgated to grant those members who do not receive a timely retirement estimate the opportunity to withdraw excess contributions.

2 CRR-NY 334.2 Withdrawal of excess contributions {#sec-2-crr-ny-334.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 334.2}

On or after January 1, 1983:

(a) a member who is furnished with a retirement estimate which is dated 15 or less days prior to the effective date of that member's retirement; or

(b) a retiree who is furnished with a retirement estimate which is dated on or subsequent to the effective date of that retiree's retirement;

may file with the Retirement System a request for the withdrawal of excess contributions up to 30 days from the date of the retirement estimate.

Part 335 DEPENDENT PARENTS

2 CRR-NY 335.1 Background {#sec-2-crr-ny-335.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 335.1}

(a) Sections 61 and 361 of the Retirement and Social Security Law provide that accidental death benefits shall, in certain specified situations, be payable to the dependent father or dependent mother of a deceased beneficiary.

(b) Similarly, sections 509 and 607 of the Retirement and Social Security Law provide that accidental death benefits shall be payable to an eligible beneficiary. The definition of eligible beneficiary for the purposes of sections 509 and 607 are provided, respectively, in sections 501 and 601 of the Retirement and Social Security Law. Sections 501 and 601 provide that the eligible beneficiary shall, in certain specified instances, be the dependent parents of the deceased member, and that the Comptroller shall promulgate regulations to define the statutory term dependent parent.

(c) This Part is promulgated to define the meaning of the terms dependent parent, dependent father and dependent mother for the purposes of sections 61, 361, 501 and 601 of the Retirement and Social Security Law.

2 CRR-NY 335.2 Definition {#sec-2-crr-ny-335.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 335.2}

As applied to members of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System and used in sections 61, 361, 501 and 601 of the Retirement and Social Security Law, the terms dependent parent, dependent father and dependent mother shall mean, respectively, a parent, father and mother who have been claimed as a dependent on the deceased member's Federal income tax return for the taxable year immediately preceding the year of the member's death. However, an individual shall not be considered either a dependent parent, dependent father or a dependent mother where the Internal Revenue Service has disallowed the deceased member's claim that he or she is a dependent parent.

Part 336 DISABILITY RETIREMENT FOR MEMBERS UNDER ARTICLE 14 OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 336.1 Background {#sec-2-crr-ny-336.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 336.1}

(a) The Supreme Court, Albany County, has determined that ordinary disability and accidental disability benefits provided under sections 506 and 507, respectively, of the Retirement and Social Security Law, shall remain available to individuals who joined or rejoined the New York State Employees' Retirement System on or between July 27, 1976 and August 31, 1983, and who otherwise meet the eligibility requirements provided in those sections. These benefits shall also be available to individuals who joined or rejoined the New York State Police and Fire Retirement System on or between July 1, 2009 and January 9, 2010, and who have not elected to be covered by the provisions of article 22 by electing such retirement coverage within the time period as specified in section 1205 of the Retirement and Social Security Law, and who otherwise meet the eligibility requirements provided in those sections.

(b) Section 507-a of the Retirement and Social Security Law (chapter 452 of the Laws of 1983), which became effective September 1, 1983, is the sole disability retirement benefit applicable to members of the uniformed personnel in the institutions under the jurisdiction of the Department of Correctional Services of New York State, as defined in subdivision (h) of section 89 of the Retirement and Social Security Law, who joined or rejoin the New York State Employees' Retirement System, on or subsequent to September 1, 1983. Section 507-a also applies to disability retirements of such members of the uniformed personnel who join or rejoin the New York State Employees' Retirement System on or subsequent to July 27, 1976.

(c) Section 519 of the Retirement and Social Security Law authorizes the Comptroller to promulgate regulations pertaining to the implementation of article 14 of the Retirement and Social Security Law. Subdivision (c) of section 507-a authorizes the Comptroller, as head of the New York State Employees' Retirement System, to adopt appropriate procedures for making determinations regarding applications for disability retirement filed by members of that system who are governed by the provisions of article 14 of the Retirement and Social Security Law.

(d) This Part shall set forth the procedures pertaining to disability retirement pursuant to sections 506, 507 and 507-a of the Retirement and Social Security Law.

2 CRR-NY 336.2 Procedure for retirement {#sec-2-crr-ny-336.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 336.2}

The procedure for retirement set forth in section 74 of the Retirement and Social Security Law shall be applicable to members of the New York State Employees' Retirement System who file applications for disability retirement pursuant to article 14 of the Retirement and Social Security Law.

2 CRR-NY 336.3 Effective date of retirement {#sec-2-crr-ny-336.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 336.3}

The effective date of retirement for disability purposes shall be the later of either:

(a) the date of the filing of the application for disability retirement; or

(b) the date following the last date of active service.

2 CRR-NY 336.4 Disability determinations {#sec-2-crr-ny-336.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 336.4}

Pursuant to section 74 of the Retirement and Social Security Law, the Comptroller has the exclusive authority to determine whether a member is permanently incapacitated for the performance of gainful employment. With respect to disability retirement applications filed pursuant to section 507 of the Retirement and Social Security Law only, a determination by the Federal Social Security Administration that a member is permanently incapacitated for the performance of gainful employment shall constitute proof of permanent incapacity for retirement system purposes.

2 CRR-NY 336.5 Recovery of disability beneficiaries {#sec-2-crr-ny-336.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 336.5}

(a) The Comptroller may, once each year following the retirement of a member on a disability allowance, and upon the beneficiary's application shall, require such disability beneficiary to undergo a medical examination. No such examination may be required until one year following the final determination granting disability retirement. Such examination shall be made at a place mutually agreed upon by the Comptroller and such beneficiary. In the event that any such disability beneficiary shall refuse to submit to a medical examination, the retirement allowance shall be discontinued until the member submits to a medical examination. If such refusal shall continue for one year, all pension rights shall be forfeited.

(b) Following such examination, or examinations, the Comptroller shall render a determination based upon the report of the medical board. Where the Comptroller determines that a beneficiary who has retired from a competitive class position is no longer incapacitated for the performance of gainful employment, the Comptroller shall certify to the applicable civil service department or commission, that the beneficiary is a preferred eligible to be placed upon the appropriate eligible list or lists, if any. Disability payments shall continue until such time as the beneficiary is first offered a position in public service at a salary grade equal to or exceeding that of the position from which the beneficiary had retired.

(c) In the event that a beneficiary had not retired from a competitive class position, or in the event that there exists no eligible list which encompasses the competitive class position from which he or she had retired, disability payments shall cease one calendar year from the date of the Comptroller's redetermination, and the beneficiary shall, if he or she had been vested at the time of retirement, be restored to membership in the New York State Employee's Retirement System.

2 CRR-NY 336.6 Reemployment of disability beneficiaries {#sec-2-crr-ny-336.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 336.6}

(a) The retirement allowance of a disability beneficiary shall be reduced in the event that any such disability beneficiary is employed in an occupation paying more than the difference between his retirement allowance, as it would be without optional modification, and the final salary. The retirement allowance shall be adjusted to a sum which, when added to the amount so earnable, shall equal the final salary. If the earnings subsequently change, the retirement allowance shall be adjusted so that the sum of retirement allowance when added to the amounts earned shall not exceed his final salary. The reduction shall be from the amount that the allowance would have been without optional modification. The retirement allowance of a disability beneficiary shall not be reduced after he or she has attained the applicable mandatory retirement age, or shall have attained the age and the date such beneficiary would have been eligible for service retirement under applicable law had he or she remained in continuous service from the date of retirement. For the purposes of this section, applicable law shall mean the plan and/or provision under which the member was enrolled on the date the disability retirement became effective.

(b) In the event that a disability beneficiary is restored to active service of an employer, at a salary equal to or in excess of his final salary, his retirement allowance shall cease. Thereafter, such person shall contribute to the retirement system in the same manner and at the same rate that he paid prior to his disability retirement. The total service which was credited at the time of such retirement shall be credited to the restored individual. Upon subsequent retirement, additional service earned by him subsequent to his last restoration to membership will be credited.

(c) In the event that a disability beneficiary is restored to active public service at a salary less than his final salary but equal to or in excess of the current minimum salary for the position from which he was last retired for disability, such person, if he or she so elects, shall again become a member of the retirement system and the retirement allowance shall cease. If such an election is filed with the Comptroller, such individual shall contribute to the retirement system in the same manner and at the same rate as was paid prior to disability retirement. The total service which was credited at the time of such retirement shall be credited to the restored individual. Upon his subsequent retirement, additional service earned subsequent to the last restoration to membership will be credited.

2 CRR-NY 336.7 Final salary {#sec-2-crr-ny-336.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 336.7}

The term final salary shall mean the maximum salary or compensation which the retired member currently would be receiving, in the position next higher than that from which he was last retired for disability, if he had not been so retired, unless that position has been abolished. Where such position has been abolished, the Comptroller shall determine the maximum amount of salary or compensation which such retired member currently would be receiving in such position, based on compensation currently paid by the employer to persons in comparable positions.

2 CRR-NY 336.8 Reinstatement of member accounts upon restoration to membership {#sec-2-crr-ny-336.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 336.8}

Where a disability beneficiary is restored to membership in connection with a return to active service, the net amount of the contribution balance standing to the credit of the member at the time of retirement, after reduction for the amount of any outstanding loan, shall be reinstated. The amount of the loan outstanding at the time of the retirement shall not be reinstated. Upon subsequent superannuation or service retirement, the benefits otherwise payable shall be reduced by the original amount offset at the time of the previous retirement with respect to an outstanding loan balance pursuant to section 517-c of the Retirement and Social Security Law plus any additional offset calculated under such section 517-c with respect to outstanding loans taken during the restored membership.

Part 337 DISABILITY RETIREMENT FOR MEMBERS OF THE NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM UNDER ARTICLE 15 OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 337.1 Background {#sec-2-crr-ny-337.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 337.1}

(a) Article 15 of the Retirement and Social Security Law (chapter 414 of the Laws of 1983), which became effective September 1, 1983, applies to all members who join or rejoin a public retirement system on or after July 27, 1976, and to all employees who would have been eligible to join or rejoin such a retirement system on or after such date but in lieu thereof elected an optional retirement program to which their employers are thereby required to contribute, except for members of the New York State Policemen's and Firemen' s Retirement System, members in the uniform personnel in institutions of New York State or the New York City department of corrections, members of the New York City police pension fund or the New York City fire department pension fund, or members qualified for participation in the uniform transit police force or housing police force plan in the New York City Employees' Retirement System.

(b) Section 605 of the Retirement and Social Security Law provides for disability retirement benefits to eligible individuals with at least 10 years of creditable service who become permanently incapacitated for duty. Section 605 further provides that the requirement that the member have 10 years of credited service shall be inapplicable if the permanent incapacity is the natural and proximate result of an accident sustained in service.

(c) Subdivision c of section 605 authorized the Comptroller, as head of the New York State Employees' Retirement System, to adopt appropriate procedures for making determinations regarding applications for disability retirement filed by members of that system who are governed by the provisions of article 15. Additionally, section 614 authorizes the Comptroller to promulgate regulations pertaining to the implementation of article 15.

(d) This Part is promulgated to provide procedures and requirements with respect to applications for disability retirement under section 605 of the Retirement and Social Security Law.

2 CRR-NY 337.2 Procedure for processing disability retirement {#sec-2-crr-ny-337.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 337.2}

The procedure for retirement set forth in section 74 of the Retirement and Social Security Law shall be applicable to members of the New York State Employees' Retirement System who file applications for disability retirement pursuant to article 15 of the Retirement and Social Security Law.

2 CRR-NY 337.3 Effective date of disability retirement {#sec-2-crr-ny-337.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 337.3}

The effective date of retirement for disability purposes shall be the later of either:

(a) the date of the filing of the application for disability retirement; or

(b) the date following the last date of active service.

2 CRR-NY 337.4 Disability determinations {#sec-2-crr-ny-337.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 337.4}

Pursuant to section 74 of the Retirement and Social Security Law, the Comptroller has the exclusive authority to determine whether a member is permanently incapacitated for the performance of gainful employment. With respect to disability retirement applications filed pursuant to section 605 of the Retirement and Social Security Law, a member shall be considered permanently incapacitated for the performance of gainful employment if he is incapable of performing the duties normally, ordinarily and reasonably expected of his position.

2 CRR-NY 337.5 Recovery of disability beneficiaries {#sec-2-crr-ny-337.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 337.5}

(a) The Comptroller may, once each year following the retirement of a member on a disability allowance, and upon the beneficiary's application shall require such disability beneficiary to undergo a medical examination. No examination upon a beneficiary's application may be required until one year following the final determination granting disability retirement. Such examination shall be made at a place mutually agreed upon by the Comptroller and such beneficiary. In the event that any such disability beneficiary shall refuse to submit to a medical examination, the retirement allowance shall be discontinued until the member submits to a medical examination. If such refusal shall continue for one year, all pension rights shall be forfeited. The following indicia of a disability beneficiary's ability to return to the duties of the position from which such individual retired on account of disability, and any other reasonable indicia, shall be considered in determining whether it is appropriate to require the medical examination of a disability beneficiary (who has not requested such medical examination) for the purposes of this Part:

(1) medical evidence or records submitted to the Retirement System that indicates that the disability beneficiary may be able to perform the duties of the former position;

(2) videotape, photographs or other documentation or evidence submitted to the Retirement System which indicates that the disability beneficiary may be able to perform the duties of the former position;

(3) a determination by the Social Security Agency, Workers’ Compensation Board or similar entity which indicates that the disability beneficiary may be able to perform the duties of the former position;

(4) documentation with respect to the disability beneficiary’s earnings in a position or positions which may reasonably be construed as indicating that the disability beneficiary may be able to perform the duties of the former position.

(b) Following such examination, or examinations, the Comptroller shall render a determination based upon the report of the medical board. Where the Comptroller determines that a beneficiary who had retired from a competitive class position is no longer incapacitated for the performance of gainful employment, the Comptroller shall certify to the applicable civil service department or commission, that the beneficiary is a preferred eligible to be placed upon the appropriate eligible list or lists, if any exist. Disability payments shall continue until such time as the beneficiary is first offered a position in public service at a salary grade equal to or exceeding that of the position from which the beneficiary had retired.

(c) In the event that a beneficiary had not retired from a competitive class position, or in the event that there exists no eligible list which encompasses the competitive class position from which he or she had retired, disability payments shall cease one calendar year from the date of the Comptroller's redetermination, and the beneficiary shall, if he or she had been vested at the time of retirement, be restored to membership in the New York State Employees' Retirement System.

2 CRR-NY 337.6 Reemployment of disability beneficiaries {#sec-2-crr-ny-337.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 337.6}

(a) The retirement allowance of a disability beneficiary shall be reduced in the event that any such disability beneficiary is employed in an occupation paying more than the difference between his retirement allowance, as it would be without optional modification, and the final salary. The retirement allowance shall be adjusted to a sum which, when added to the amount so earnable, shall equal the final salary. If the earnings subsequently change, the retirement allowance shall be adjusted so that the sum of retirement allowance when added to the amounts earned shall not exceed his final salary. The reduction shall be from the amount that the allowance would have been without optional modification. The retirement allowance of a disability beneficiary shall not be reduced after he or she has attained the applicable mandatory retirement age, or shall have attained the age and the date such beneficiary would have been eligible for service retirement under applicable law had he or she remained in continuous service from the date of retirement. For the purposes of this section, applicable law shall mean the plan and/or provision under which the member was enrolled on the date the disability retirement became effective.

(b) In the event that a disability beneficiary is restored to active service of an employer, at a salary equal to or in excess of his final salary, his retirement allowance shall cease. Thereafter, such person shall contribute to the retirement system in the same manner as and at the same rate that he paid prior to his disability retirement. The total service which was credited at the time of such retirement shall be credited to the restored individual. Upon subsequent retirement, additional service earned by him subsequent to his last restoration to membership will be credited.

(c) In the event that a disability beneficiary is restored to active public service at a salary less than his final salary but equal to or in excess of the current minimum salary for the position from which he was last retired for disability, such person, if he or she so elects, shall again become a member of the retirement system and the retirement allowance shall cease. If such an election is filed with the Comptroller, such individual shall contribute to the retirement system in the same manner and at the same rate as was paid prior to disability retirement. The total service which was credited at the time of such retirement shall be credited to the restored individual. Upon subsequent retirement, additional service earned subsequent to the last restoration to membership will be credited.

2 CRR-NY 337.7 Final salary {#sec-2-crr-ny-337.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 337.7}

The term final salary shall mean the maximum salary or compensation which the retired member currently would be receiving, in the position next higher than that from which he was last retired for disability, if he had not been so retired, unless that position has been abolished. Where such position has been abolished, the Comptroller shall determine the maximum amount of salary or compensation which such retired member currently would be receiving in such position, based on compensation currently paid by the employer to persons in comparable positions.

2 CRR-NY 337.8 Reinstatement of member accounts upon restoration to membership {#sec-2-crr-ny-337.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 337.8}

Where a disability beneficiary is restored to membership in connection with a return to active service, the net amount of the contribution balance standing to the credit of the member at the time of retirement, after reduction for the amount of any outstanding loan, shall be reinstated. The amount of the loan outstanding at the time of the retirement shall not be reinstated. Upon subsequent superannuation or service retirement, the benefits otherwise payable shall be reduced by the original amount offset at the time of the previous retirement with respect to an outstanding loan balance pursuant to section 613-b of the Retirement and Social Security Law plus any additional offset calculated under such section with respect to outstanding loans taken during the restored membership.

Part 338 TERMINATION OF MEMBERSHIP IN NEW YORK STATE EMPLOYEES' RETIREMENT SYSTEM PURSUANT TO ARTICLES 14 AND 15 OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 338.1 Background {#sec-2-crr-ny-338.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 338.1}

Section 519 of the Retirement and Social Security Law and section 614 of the Retirement and Social Security Law authorize the State Comptroller, as head of the New York State Employees' Retirement System, to promulgate regulations pertaining to the termination of membership in the system by members subject to articles 14 and 15, respectively, of the Retirement and Social Security Law. Employee contributions made to the retirement system pursuant to section 613 of the Retirement and Social Security Law by members who joined the retirement system on or after September 1, 1983 must remain on deposit until the member has attained age 62 or died. This regulation is promulgated to provide the conditions upon which membership in the retirement system will terminate pursuant to the provisions of articles 14 and 15 of the Retirement and Social Security Law so as to ensure that membership will not automatically terminate prior to the date a member sould be otherwise eligible for benefits in the retirement system or for a refund of contributions.

2 CRR-NY 338.2 Termination of membership {#sec-2-crr-ny-338.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 338.2}

(a) The membership of those members who join or rejoin the retirement system on or after July 1, 1976 shall cease upon the occurrence of any one of the following conditions:

(1) when a member shall die;

(2) when a member shall retire; or

(3) when a member shall have withdrawn his or her accumulated contributions.

(b) In the case of members who are eligible to receive a refund of contributions prior to attaining age 62 and who are not eligible for vested benefits, membership shall terminate when seven years have elapsed since a member last engaged in public service.

(c) In the case of members who are not yet eligible to receive a refund of contributions prior to attaining age 62, membership shall terminate on the later of the two following dates:

(1) when a member attains age 62; or

(2) when seven years have elapsed since a member last engaged in public service.

Part 340 DATE OF MEMBERSHIP FOR OPTIONAL MEMBERS OF THE NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM

2 CRR-NY 340.1 Background {#sec-2-crr-ny-340.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 340.1}

Sections 40, 500 and 600 of the Retirement and Social Security Law provide that individuals in certain categories of employment are eligible, but not required, to join the New York State Employees' Retirement System. These individuals join the New York State Employees' Retirement System upon filing a membership application with the Comptroller, and are referred to as “optional members.” Pursuant to those provisions, the Retirement System has established a practice of determining the date of membership of such optional members as the date on which the appropriate membership application is filed with the Comptroller. Court decisions have consistently held that a Retirement System document is filed with the Comptroller for Retirement and Social Security Law purposes on the date that it is received by the office or individual responsible for receiving such document. Accordingly, the Retirement System has established a longstanding practice of determining the date of membership for optional members as the date on which the membership application is received by the Comptroller. This Part is promulgated to set forth the procedures to be used in establishing the date of membership in the New York State Employees' Retirement System for individuals in categories of employment which render them optional members of said system.

2 CRR-NY 340.2 Date of membership {#sec-2-crr-ny-340.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 340.2}

(a) The date of membership for individuals in categories of employment which make them eligible, but not required, to join the New York State and Local Employees' Retirement System pursuant to sections 40, 500 and 600 of the Retirement and Social Security Law shall be the date on which an appropriate and duly completed membership application form is received by the Comptroller.

(b) An individual's employer shall not be considered an agent of the Comptroller under this Part, and accordingly the delivery of a membership application to an individual's employer shall not result in enrollment in the New York State and Local Employees' Retirement System and shall not have any effect on the date of the individual's date of membership.

(c) Telephone registration.

Notwithstanding the above, an individual's employer shall be considered an agent of the Comptroller for the limited purpose of accepting a membership application, and a membership application shall be deemed received by the Comptroller on the date of telephone registration, if all of the following requirements are met:

(1) The employer of an individual makes telephone contact with the Retirement System's telephone registration unit and advises such unit that the individual has commenced employment in a position which would entitle the individual to membership in the Retirement System.

(2) The employer, in the course of such telephone call, notifies the Retirement System's telephone registration unit of the name, date of birth and Social Security number of such employee.

(3) The employer, during the course of such telephone conversation, states that the member is in the process of filling out a membership application, and that such application will be mailed to the Retirement System in the immediate future.

(4) The membership application is subsequently received by the Retirement System.

(5) Nothing in this Part shall result in the membership of an individual who is not eligible to join the Retirement System upon the filing of a membership application.

Part 341 FILING RETIREMENT APPLICATIONS AND OPTION ELECTION FORMS; WITHDRAWING AND CHANGING THE EFFECTIVE DATE OF SERVICE RETIREMENT

2 CRR-NY 341.1 Background {#sec-2-crr-ny-341.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 341.1}

The State Comptroller as the administrative head of the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System has the exclusive authority pursuant to sections 11, 74, 311, 374, 519 and 614 of the Retirement and Social Security Law to adopt rules and regulations for the administration of the retirement systems. This Part is promulgated to set forth the procedures for filing documents with the retirement system and to facilitate the orderly processing of applications for retirement benefits and forms for retirement option elections filed pursuant to the requirements of the Retirement and Social Security Law.

2 CRR-NY 341.2 Application forms {#sec-2-crr-ny-341.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 341.2}

All applications for service retirement and disability retirement and all elections of options must be made on the official forms prepared by the State Comptroller for such purposes.

2 CRR-NY 341.3 Filing date of service retirement applications, vested retirement applications, disability retirement applications, retirement option elections and other applications, forms and documents {#sec-2-crr-ny-341.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 341.3}

Except as provided in Part 340 and 366 of this Title, service retirement applications, vested retirement applications, disability retirement applications, option election forms and other applications, forms and documents are not filed until the date they are received by the Retirement System. However, such applications, forms and documents will be deemed filed on the date mailed if they are mailed to the Retirement System by the United States Postal Service certified mail, return receipt requested. Notwithstanding this provision, no application, form or document will be deemed filed on its mailing date unless it is actually received by the Retirement System as the result of such mailing.

2 CRR-NY 341.4 Effective date of retirement {#sec-2-crr-ny-341.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 341.4}

(a) A service retirement application must be on file with the Office of the State Comptroller for no less than 15 and no more than 90 days before the effective date of retirement.

(b) With respect to tier 1 and tier 2 members, a vested retirement application will become effective on the date it is filed or the first day of the month following the date upon which the member attains the minimum age required for vested retirement; whichever is later.

(c) With respect to tier 3 and tier 4 members, a vested retirement application will become effective on the date it is filed or the date upon which the member attains the minimum age required for vested retirement; whichever is later.

2 CRR-NY 341.5 Withdrawal of service retirement applications {#sec-2-crr-ny-341.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 341.5}

An application for service retirement can only be withdrawn by filing a written request to withdraw such application with the Retirement System prior to the effective date of retirement. This written request must be signed by the member, or if he is incompetent, by his spouse or the committee of his property, or if he is a conservatee, by his spouse or the conservator of his property. Such written request will not be considered filed until it is actually received. However, such a written request will be deemed filed on the date it is mailed if it is mailed to the Retirement System by United States Postal Service certified mail, return receipt requested and is actually received by the Retirement System as the result of such mailing.

2 CRR-NY 341.6 Changing the effective date of service retirement {#sec-2-crr-ny-341.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 341.6}

A member or a person authorized under the Retirement and Social Security Law to file a retirement application on the member's behalf may change the effective date of the member's service retirement by filing a new application for service retirement with the Retirement System prior to the effective date of retirement established by the previously filed service retirement application, and by choosing thereon, a new effective date which meets the following requirements. The effective date of retirement selected on the new service retirement application must be at least 30 and no more than 90 days after the filing date of the previously filed service retirement application, or must be at least 30 and no more than 90 days after the filing date of the new service retirement application, whichever period is later. Such an application will not be considered filed until it is actually received. However, such a written request will be deemed filed on the date it is mailed if it is mailed to the Retirement System by United States Postal Service certified mail, return receipt requested and is actually received by the Retirement System as the result of such mailing.

2 CRR-NY 341.7 Simultaneous filing of retirement applications without prejudice {#sec-2-crr-ny-341.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 341.7}

A member or a person authorized to file on a member's behalf may simultaneously file applications for service and disability retirements without prejudice to each other by filing the appropriate application forms, provided that such member or person indicates on each application form that the application is filed without prejudice to the other applications being filed.

Part 342 FILING OF OPTION ELECTIONS UNDER ARTICLE 14 OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 342.1 Background {#sec-2-crr-ny-342.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.1}

(a) Section 514 of the Retirement and Social Security Law authorizes eligible individuals to elect to receive a retirement allowance without optional modifications, or alternatively, to elect to receive a retirement allowance under one of several retirement options provided therein. Section 514 does not detail the procedure for filing option elections, and accordingly the procedure provided in title 10 of article 2 of the Retirement and Social Security Law shall apply, pursuant to paragraph 1 of section 519 of the Retirement and Social Security Law.

(b) This Part is promulgated to outline the procedure for filing option elections under article 14 of the Retirement and Social Security Law as provided under title 10 of article 2 of the Retirement and Social Security Law.

2 CRR-NY 342.2 Form; extent of revocability {#sec-2-crr-ny-342.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.2}

A member, or person authorized by section 514 of the Retirement and Social Security Law to make an election on a member's behalf, may designate a beneficiary under any of the options herein provided. Each such designation shall be:

(a) made in writing on a blank provided by the Comptroller for such purpose; and

(b) ineffective until it is filed in the Comptroller's office; and

(c) revocable to the extent that:

(1) a new beneficiary under option three or option four may be designated at any time during the member's life;

(2) a new beneficiary under any other option may be designated at any time within the period provided for the making of an election pursuant to this section.

2 CRR-NY 342.3 Filing period; service retirement options {#sec-2-crr-ny-342.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.3}

Any such election may be filed before the first day of the month following the effective date of retirement.

2 CRR-NY 342.4 Comptroller's authority to extend filing period, service retirement options {#sec-2-crr-ny-342.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.4}

Notwithstanding any other provision of this Part, the Comptroller, for reasonable cause, shall have power to extend the time for the election of an option, for a period or periods which shall expire not later than 60 days immediately after the effective date of a member's retirement.

2 CRR-NY 342.5 Filing period; disability retirement options {#sec-2-crr-ny-342.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.5}

An option election with respect to retirement on account of disability may be filed within 30 days after mailing by the Comptroller of notification of approval of retirement on account of disability.

2 CRR-NY 342.6 Comptroller's authority to extend filing period for disability retirement options where no effective option on file {#sec-2-crr-ny-342.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.6}

Notwithstanding any other provision of this part, the Comptroller, for reasonable cause, shall have power to extend the time for the election of an option, for a period or periods which shall expire not later than 60 days immediately after the mailing by the Comptroller of notification of approval of retirement on account of disability.

2 CRR-NY 342.7 Retirement shall be without optional modification unless timely and effective election filed {#sec-2-crr-ny-342.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.7}

Notwithstanding any other provision of this section, but except where payment of accumulated contributions, an ordinary death benefit, or both, is or are required pursuant to article 14 of the Retirement and Social Security Law, retirement shall be without optional modification unless the member files an effective election pursuant to this Part to retire on a different basis.

2 CRR-NY 342.8 Election ineffective due to death {#sec-2-crr-ny-342.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.8}

An optional election shall not become effective if the member dies before the effective date of retirement, or within 30 days after filing a retirement application pursuant to this Part.

2 CRR-NY 342.9 Withdrawing option elections; choosing a new option {#sec-2-crr-ny-342.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 342.9}

An election of an option may be withdrawn or a new option may be chosen until the first day of the month following the effective date of retirement.

Part 343 SERVICE CREDITING FOR TEACHERS, TIERS TWO, THREE AND FOUR

2 CRR-NY 343.1 Background {#sec-2-crr-ny-343.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 343.1}

Sections 446, 513 and 609 of the Retirement and Social Security Law were amended by chapters 616 and 713, respectively, of the Laws of 1986 to provide that teachers, as defined in section 136 of the Civil Service Law and section 3101 of the Education Law, shall receive one year of service credit if they have been (employed full-time for the school year. Chapter 616 applies to school years which begin on or after January 1, 1986. Chapter 713 is applicable to school years which begin on or after September 1, 1986. These amendments authorize the Comptroller to promulgate regulations defining school year for the purposes of determining service credit pursuant to sections 446, 513 and 609 of the Retirement and Social Security Law.

2 CRR-NY 343.2 Definition of school year {#sec-2-crr-ny-343.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 343.2}

Teachers shall be considered to have been employed for an entire school year for service crediting purposes if and only if they have been reported by the employer to the Retirement System as being paid on the payroll for not less than 200 days (including paid vacation and paid holidays) between September 1st of any calendar year and August 31st of the following calendar year.

2 CRR-NY 343.3 Service credit {#sec-2-crr-ny-343.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 343.3}

Teachers who have been employed full-time for a school year as defined in this part shall receive a full year of service credit for any such school year.

Part 344 GOOD CAUSE FOR FAILURE TO FILE TIMELY NOTICE OF OCCURRENCE OF DISABILITY INCURRED IN THE PERFORMANCE OF DUTY AS REQUIRED BY SECTION 363-C OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 344.1 Background {#sec-2-crr-ny-344.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 344.1}

Whereas, section 363-c(e) of the Retirement and Social Security Law requires timely filing of written notice of occurrence(s) with the Comptroller as a prerequisite to the granting of retirement for disability incurred in the performance of duty, and whereas paragraph c of subdivision e of section 363-c provides that the notice requirement shall apply to all occurrences before and after the August 1, 1984 effective date of section 363-c, and whereas section 363-c(e) provides that a failure to file timely notice may be excused for good cause shown as provided by rules and regulations promulgated by the Comptroller, this Part is promulgated to establish the standard by which failure to file timely notice of occurrence of disability will be excused for good cause.

2 CRR-NY 344.2 Good cause defined {#sec-2-crr-ny-344.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 344.2}

Failure to file timely notice of occurrence of disability in accordance with the provisions of section 363-c(e) of the Retirement and Social Security Law will be excused for good cause shown when it is established that:

(a) the applicant became hospitalized within a week after the date of an occurrence which is the basis of disability incurred in the performance of duty and remained so hospitalized for 60 days thereafter; or

(b) the applicant, within 30 days after the date of occurrence of disability, filed written notice with his employer setting forth the particulars of the time, place, nature of the occurrence and the nature of the injury. This notice must be signed by the injured employee or by someone on his behalf. The applicant or applicant's employer being unaware of the requirements of section 363-c(e) of the Retirement and Social Security Law or this Part, regarding timely filing of notice, shall not constitute good cause for failure to file timely notice.

2 CRR-NY 344.3 Applicability {#sec-2-crr-ny-344.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 344.3}

Section 363-c of the Retirement and Social Security Law provides that its statutory notice requirement shall apply to occurrences both before and after the effective date of that section. Accordingly, the provisions of this part, which pertains to situations where such notice shall be excused, shall be applicable to any occurrence which is the basis for application for retirement for disability incurred in the performance of duty, whether occurring before or after the effective date(s) of Section 363-c of the Retirement and Social Security Law and/or this part.

Part 345 ADDITIONAL OPTIONS UPON RETIREMENT FOR TIER 1 AND 2 MEMBERS OF THE NEW YORK STATE AND LOCAL RETIREMENT SYSTEMS

2 CRR-NY 345.1 Background {#sec-2-crr-ny-345.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.1}

Sections 90, 390 and 447 of the Retirement and Social Security Law authorize eligible members of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System to elect to receive a retirement allowance without optional modification or, alternatively, to elect to receive a modified retirement allowance under one of several statutory retirement options provided in those sections. Sections 90 and 390 also authorize the comptroller to approve other optional benefits which shall be the actuarial equivalent of the basic retirement allowance without optional modification. This part shall provide for the availability of four such retirement options to eligible Tier 1 members, and two such options to eligible Tier 2 members. The five-year and ten-year certain options provided in sections 345.2 and 345.3, of this Part, are already available to Tier 2 members pursuant to section 447 of the Retirement and Social Security Law.

2 CRR-NY 345.2 Five-year certain option {#sec-2-crr-ny-345.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.2}

This option provides payment to the pensioner for life. In the event the pensioner dies within five years of retirement, benefits shall continue in the same amount to a beneficiary the pensioner shall have designated for the balance of such five year period. The pensioner may change the designated beneficiary at any time prior to his death by filing a new designation of beneficiary form with the Comptroller. The beneficiary of a pensioner shall not be eligible for a lump sum payment of the benefit. In the event the pensioner shall have designated his estate as beneficiary, or if his designated beneficiary(ies) shall have predeceased him, or if he has failed to designate a beneficiary, the commuted value of the remaining payments, if any, for the balance of the five year period shall be paid in a lump sum to the pensioner's estate or in accordance with the provisions of section 1310 of the Surrogate's Court Procedure Act.

2 CRR-NY 345.3 Ten-year certain option {#sec-2-crr-ny-345.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.3}

This option provides payment to the pensioner for life. In the event the pensioner dies within ten years of retirement, benefits shall continue in the same amount to a beneficiary the pensioner shall have designated for the balance of such ten year period. The pensioner may change the designated beneficiary at any time prior to his death by filing a new designation of beneficiary form with the Comptroller. The beneficiary of a pensioner shall not be eligible for a lump sum payment of the benefit. In the event the pensioner shall have designated his estate as beneficiary, or if his designated beneficiary(ies) shall have predeceased him, or if he has failed to designate a beneficiary, the commuted value of the remaining payments, if any, for the balance of the ten year period shall be paid in a lump sum to the pensioner's estate or in accordance with the provisions of section 1310 of the Surrogate's Court Procedure Act.

2 CRR-NY 345.4 Pop-up joint allowance-full {#sec-2-crr-ny-345.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.4}

This option provides payments to the member for life. Upon the member's death a retirement allowance in an amount equal to the allowance paid to the member shall be paid for life to such person as he shall nominate by written designation duly acknowledged and filed with the retirement system at the time of retirement. Under this option a member may not change his beneficiary after the close of the period provided by section 90 of the Retirement and Social Security Law for the making of an election. Upon the death prior to the death of the member, of said person so nominated, the member shall, commencing with the payment for the next following calendar month, begin receiving, in lieu of the allowance then payable, an allowance equal in amount to that which would have been payable if no optional modification of the retirement allowance were in effect. This option shall not be available where the actuarial equivalent of the amount(s) which the pensioner may receive is less than fifty percent of the actuarial equivalent of the retirement allowance without optional modification.

2 CRR-NY 345.5 Pop-up joint allowance-half {#sec-2-crr-ny-345.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.5}

This option provides payments to the member for life. Upon the member's death a retirement allowance in an amount equal to one-half of the amount of the allowance paid to the member shall be paid for Life to such person as he shall nominate by written designation duly acknowledged and filed with the retirement system at the time of retirement. Under this option a member may not change his beneficiary after the close of the period provided by section 90 of the Retirement and Social Security Law for the making of an election. Upon the death, prior to the death of the member, of said person so nominated, the member shall, commencing with the payment for the next following calendar month, begin receiving, in lieu of the allowance then payable, an allowance equal in amount to that which would have been payable if no optional modification of the retirement allowance were in effect. This option shall not be available where the actuarial equivalent of the amount(s) which the pensioner may receive is less than fifty percent of the actuarial equivalent of the retirement allowance without optional modification.

2 CRR-NY 345.6 Election of option {#sec-2-crr-ny-345.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.6}

(a) The election of the options provided in this Part shall be made on blanks prepared by the Comptroller for that purpose. Any such election may be made at any time before the first payment on account of any benefit becomes normally due. In the case of retirement on account of disability, the election of either the five-year certain option or the ten-year option may be made within 30 days after mailing by the Comptroller of notification of approval of retirement on account of disability. An election of an option may be withdrawn or a new option may be chosen at any time before the first payment on account of any benefit becomes normally due or within 30 days of the mailing of notification by the Comptroller of approval of retirement on account of disability.

(b) An election of option shall be ineffective until it is filed in the office of the Comptroller.

(c) The Comptroller, for reasonable cause, may extend the time for the election of an option for a period or periods which shall expire not later than 60 days immediately after the effective date of the member's retirement.

2 CRR-NY 345.7 Effective date of option selection {#sec-2-crr-ny-345.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.7}

An option elected pursuant to this Part shall not become effective if the member dies before the effective date of his retirement or within 30 days after the filing in the office of the Comptroller of the application for his retirement.

2 CRR-NY 345.8 Designation of beneficiary {#sec-2-crr-ny-345.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.8}

(a) A beneficiary maybe designated in accordance with the provisions of sections 90 and 390 of the Retirement and Social Security Law. Each such designation shall be:

(1) made in writing on a blank provided by the Comptroller for such a purpose; and

(2) ineffective until it is filed in the office of the Comptroller.

(b) A member electing the five-year certain option or the ten-year certain option may designate a primary beneficiary, or a primary beneficiary with a contingent beneficiary. A member may not designate multiple primary beneficiaries for the benefits payable under these options unless the designation provides for the benefits to be distributed to such primary beneficiaries on a per capita basis (“share and share alike of those surviving”).

2 CRR-NY 345.9 Effective date of option selection {#sec-2-crr-ny-345.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.9}

Election of an option provided in this Part shall not become effective if the member dies before the effective date of his retirement, or within 30 days after the filing in the office of the Comptroller of the application for his retirement unless expressly authorized by section 90 or section 390 of the Retirement and Social Security Law.

2 CRR-NY 345.10 Designation of beneficiary {#sec-2-crr-ny-345.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 345.10}

(a) A beneficiary may be designated in accordance with the provisions of sections 90 and 390 of the Retirement and Social Security Law. Each such designation shall be:

(1) made in writing on a blank provided by the Comptroller for such a purpose; and

(2) ineffective until it is filed in the office of the Comptroller.

Part 346 EMPLOYER ADOPTION OF THE OPTIONAL BENEFIT IMPROVEMENT PROVIDED BY SECTION 384-E OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 346.1 Background; period during which covered employees may elect benefit improvement {#sec-2-crr-ny-346.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 346.1}

Section 384-e of the Retirement and Social Security Law, which was enacted pursuant to chapter 453 of the Laws of 1988, provides a benefit improvement which may be adopted by employers who have previously adopted the section 384-d optional twenty year plan. The section 384-e benefit improvement provides an additional pension component equal to one sixtieth of final average salary; provided, however, that the total allowance payable shall not exceed three quarters of the member's final average salary. An employer's adoption of the section 384-e benefit improvement entitles all individuals who are in their employ and enrolled in the 384-d plan during the “coverage period” to elect the section 384-e improvement. All such employees may elect the benefit improvement by filing an election with the Comptroller at any time during their current employment with that employer and while enrolled in the section 384-d plan. The employer establishes a “coverage period” by so providing in the election to provide the benefit, which the employer must file with the Comptroller. This Part shall provide the procedure under which employers may file an election to provide the section 384-e benefit improvement and the guidelines with respect for establishing a “coverage period.”

2 CRR-NY 346.2 Filing of employer election to adopt the section 384-e benefit improvement {#sec-2-crr-ny-346.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 346.2}

(a) An election to provide the 384-e benefit improvement must be filed with the Comptroller in the manner provided by section 333 of the Retirement and Social Security Law.

(b) An employer's election to provide the 384-e benefit improvement shall not become effective until the opening date of the coverage period specified in the election, or the date the employer election is received by the Comptroller; whichever occurs later.

2 CRR-NY 346.3 Establishing a “coverage period” {#sec-2-crr-ny-346.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 346.3}

(a) The employer election of the 384-e benefit improvement filed with the Comptroller shall specify the “coverage period” as described in section 346.1 of this Part. An employer election to provide the benefit improvement will be deemed to provide an unlimited coverage period unless the election specifically establishes the opening and/or closing dates of the coverage period.

(b) A limited coverage period may be established by specifying the opening and closing dates of such coverage period in the employer election filed with the Comptroller.

(c) The coverage period elected by the employer must be at least one year in duration. The coverage period may not be shortened after the employer election specifying the opening and closing dates of the coverage period is filed with the Comptroller. However, the employer may extend the coverage period by filing an election with the Comptroller specifying the new closing date of the coverage period, prior to the unextended closing date provided in the original election.

(d) An employer may elect to provide an additional coverage period to commence at any date following the close of a previous coverage period, by filing an additional election. Such an additional coverage period must be at least one year in duration, and an election to provide such an additional coverage period must be filed in the same manner as an original employer election.

2 CRR-NY 346.4 Employees covered by employer election {#sec-2-crr-ny-346.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 346.4}

The employer election shall cover all employees who are enrolled in the section 384-d plan during a coverage period.

Part 347 PREPAYMENT OF AMORTIZED CONTRIBUTIONS BY PARTICIPATING EMPLOYERS PURSUANT TO SECTIONS 17-A AND 317-A OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 347.1 Background {#sec-2-crr-ny-347.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 347.1}

In 1989, the Legislature amended sections 17 and 317 of the Retirement and Social Security Law to provide that employer contributions to New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System for the fiscal year ending March 31, 1990 shall be due on December 15, 1989, rather than June 30, 1991. These sections were also amended to provide that employer contributions for all future State fiscal years shall be due on December fifteenth of such year, commencing with the payment due on December 15, 1990 for the fiscal year ending March 31, 1991. The same legislation also enacted Retirement and Social Security Law sections 17-a and 317-a, which essentially provide for the amortization at 8.75 percent over 17 years of the two payments that would otherwise have been due by June 30, 1989 and June 30, 1990. The first amortization payment must be made by December 15, 1989. Under the above provisions, employers may make prepayment of amortized contributions and the Retirement Systems shall, every year, reamortize the remaining principal balance over the remaining years. This Part is promulgated to set forth procedures for prepayment of such amortization payments. Sections 17-a and 317-a expressly and specifically require the Comptroller to promulgate a regulation which includes the provisions contained herein as sections 347.2 and 347.3 of this Part.

2 CRR-NY 347.2 Notification of amount due {#sec-2-crr-ny-347.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 347.2}

On or before November 15, 1989, in addition to the amount due for the current year billing and for the payment of the amortized annual installment, the Comptroller shall advise each participating employer of the total amortization amount due and be authorized to accept prepayment in full of said amount by December 15, 1989.

2 CRR-NY 347.3 Payment of outstanding amortization {#sec-2-crr-ny-347.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 347.3}

On or before each November 15th thereafter, in addition to the amount due for the current year billing and for the payment of the annual amortized installment, the Comptroller shall advise each participating employer of amortization amount still outstanding and be authorized to accept the prepayment of any balance remaining to be paid by December 15th of that year, including interest.

2 CRR-NY 347.4 Prepayments of amortized contributions {#sec-2-crr-ny-347.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 347.4}

Employers may, at any time, prepay any portion of amortized contributions payable pursuant to section 17-a or 317-a.

2 CRR-NY 347.5 Interest {#sec-2-crr-ny-347.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 347.5}

Prepayments of amortized contributions made under this Part shall be applied first to outstanding interest due. Prepayments of amortized contributions in amounts greater than the total amount of outstanding interest shall be applied to the outstanding amortized principal balance.

Part 348 PAYMENT OF DISABILITY RETIREMENT BENEFITS PURSUANT TO CHAPTER 710, LAWS OF 1989

2 CRR-NY 348.1 Background {#sec-2-crr-ny-348.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 348.1}

(a) Chapter 710 of the Laws of 1989 amended sections 90 and 390 of the Retirement and Social Security Law. As so amended, these sections provide that disability retirement shall become effective on the day before death where:

(1) the member applied for ordinary disability retirement under section 62 or 362 of the Retirement and Social Security Law, accidental disability retirement under section 63 or 363, State Police disability retirement under section 363-b or performance of duty disability retirement under section 363-c; and

(2) the member filed an option election prior to death; and

(3) the member died at any time thereafter as the natural and proximate result of the disability alleged on the application.

Chapter 710 is retroactive so as to apply to otherwise eligible members who died on or after August 7, 1987. However, under prior law, ordinary death benefits, rather than post-death retirement benefits under a retirement option, would have been payable on account of the death of individuals covered by Chapter 710.

(b) Under Chapter 710, optional benefits are not payable on account of the death of individuals who died between August 7, 1987 and the July 24, 1989 effective date of Chapter 710, where the beneficiary(ies) are not the same as the beneficiary(ies) of ordinary death benefits which were payable under prior law. The other instances where Chapter 710 will not be applied retroactively are where retroactive application would reduce the amounts payable to the same beneficiary on account of the death of a member. Retroactive application of Chapter 710 under these circumstances would be violative of the State Constitution's prohibition against diminution of rights and benefits in a public retirement system. Accordingly, this part is promulgated to provide guidelines for the administration of Chapter 710, with emphasis on retroactive application.

2 CRR-NY 348.2 Retroactive application of Chapter 710 of the Laws of 1989 {#sec-2-crr-ny-348.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 348.2}

(a) Where ordinary death benefits are payable pursuant to section 60 or 360 of the Retirement and Social Security Law on account of a death which occurred on or after August 7, 1987 and before July 24, 1989 an additional payment shall only be made pursuant to Chapter 710 if the beneficiary of benefits payable under Chapter 710 is the same beneficiary who received or was entitled to receive ordinary death benefits under prior law.

(b) In determining whether additional benefits are payable pursuant to Chapter 710 on account of a death which occurred on or after August 7, 1987 and before July 24, 1989 to a beneficiary who already received ordinary death benefit payments under section 60 or 360, and the amount thereof if any, the Retirement System shall compare the value of the ordinary death benefit already paid or payable with the amount that would be payable under the option election filed in connection with the decedent's application for disability retirement. In the case of Tier 2 members, the amount of post-retirement death benefits payable shall also be considered.

(c) The comparison described in subdivision (b) of this section, immediately above, shall be performed in the following manner:

(1) Where the member elected Option one, the initial value shall be compared to the death benefit payment. If the initial value is greater, the difference between the initial value and the death benefit payment shall be paid.

(2) Where the member elected a joint and survivor option or a “pop-up option”, the ordinary death benefit shall be divided by the beneficiary's unisex annuity value. If the annual option payment is greater, an annual allowance equal to the difference shall be paid.

(3) Where a five- or 10-year-certain option was elected, the procedure provided in subdivision (c) paragraph (2) should be followed, using a five- or 10-year-certain annuity value.

(d) Where the disability application was filed without prejudice to a service retirement application and the optional reserve was paid under the service retirement benefit, the Retirement System shall compare the disability benefit as provided under Chapter 710 with the service retirement benefit and pay the greater of the two amounts.

2 CRR-NY 348.3 Prospective application of Chapter 710, Laws of 1989 {#sec-2-crr-ny-348.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 348.3}

(a) Where the beneficiaries for the death benefit and the disability retirement option are the same, the Retirement System shall perform the comparison described in subdivision c, above, except that the annual option payment shall be multiplied by the appropriate factor and the lump sums shall be compared.

(b) Where the beneficiary(ies) of ordinary death benefits payable under section 60 or section 360 is (are) different from the beneficiary(ies) under Chapter 710, the disability retirement shall be deemed effective on the date prior to death, as provided under Chapter 710 of the Laws of 1989.

Part 349 SURVIVOR'S BENEFIT FOR ACTIVE AND RETIRED STATE EMPLOYEES

2 CRR-NY 349.1 Definitions {#sec-2-crr-ny-349.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 349.1}

(a) The term full-time officer or employeemeans any person whose salary is paid directly by the State:

(1) whose regular work schedule is 20 hours a week or more; or

(2) who is paid on an annual salary basis, whose salary rate is $2,000 per year or more.

(b) The term public pension plan means any retirement system or pension plan supported by funds of the State or of any municipality or civil division of the State.

2 CRR-NY 349.2 Eligibility {#sec-2-crr-ny-349.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 349.2}

(a) For the purpose of determining eligibility, periods during which an employee is on authorized leave of absence without pay shall be counted as State service, not exceeding a total of three months in any one calendar year and not exceeding three months in any one continuous period of such absence.

(b) For the purpose of determining eligibility for an employee who dies while on authorized leave of absence without pay, a previous reinstatement into State service following resignation shall be deemed to have been a new entry into State service.

(c) For the purpose of determining eligibility, a legislative session or a seasonal employee who serves in a position where the service is not continuous throughout the year but recurs or is expected to recur in each successive year in essentially the same form, shall be deemed to be on authorized leave of absence without pay during the period between successive annual periods of service.

(d) For the purpose of determining eligibility under section 657 of the Retirement and Social Security Law, an employee who is suspended or laid off because of the abolition of State positions or curtailment of State activities shall, for a period not exceeding one year following such suspension or layoff, be deemed to be on authorized leave of absence.

(e) An employee who retires from State service while off the payroll on authorized leave of absence is deemed to be in State service upon such retirement.

(f) An employee who resigns or otherwise terminates State service while off the payroll on authorized leave of absence is deemed to have terminated State service on the actual effective date of such termination and is deemed to be in State service upon such actual effective date of such termination.

(g) The effective date of retirement for an employee who, pursuant to section 3 of chapter 980 of the Laws of 1962, elected to remain in the retirement program provided by the University of Buffalo and for an employee who is a member of the optional retirement program provided by article 8-B of the Education Law shall be the day following the last day on which such employee is in the service of State University provided that:

(1) prior to such date he has made application under either such retirement programs for a retirement allowance based, in whole or in part, on contributions made on his behalf by State University immediately preceding such date or immediately preceding his last day on the payroll if he makes such application while on leave of absence without pay from the State University;

(2) he receives such retirement allowance within 90 days from such date; provided, however, that the President of the State Civil Service Commission may waive such 90-day requirement for good cause shown, and shall waive such requirement if the employee dies within such 90-day period; and

(3) if he is, pursuant to subdivision 3 of section 393 of the Education Law, a discontinued service member of the New York State Employees' Retirement System or the New York State Teachers' Retirement System, his effective date of retirement shall be his effective date of retirement from either such system.

(h) An employee compensated on the basis of an annual salary paid over a period of less than 12 months is considered as actively on the payroll during the period covered by payment of that annual salary.

2 CRR-NY 349.3 Benefits {#sec-2-crr-ny-349.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 349.3}

(a) For purposes of determining the amount of the survivor's benefit for seasonal employees and for employees paid on an hourly, per diem or biweekly basis, the employee's annual rate of compensation shall be his hourly, per diem or biweekly rate of pay as of the date he was last on the payroll prior to death multiplied by the number of hours, days or biweekly periods, respectively which he would have worked during the 12 months immediately preceding his last day on the payroll if he had rendered continuous service during such period, working the number of hours per week and weeks per year normally and regularly required of employees holding the same position.

(b) The survivor's benefit under section 655 of the Civil Service Law shall be paid to the person nominated by the State employee to receive the ordinary death benefit under the public pension plan to which the employee belonged even if the employee has not served for a sufficient period to be eligible for such ordinary death benefit.

2 CRR-NY 349.4 Return to service after retirement {#sec-2-crr-ny-349.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 349.4}

An employee who has retired from a public pension plan and had returned to service without again becoming a member of the retirement system continues to be a retired employee.

2 CRR-NY 349.5 Negotiating unit {#sec-2-crr-ny-349.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 349.5}

The provision of this Chapter, insofar as they apply to employees in the negotiating units established pursuant to article 14 of the Civil Service Law and their dependents, shall be continued; provided, however, that during period of time when there is in effect an agreement between the State and an employee organization reached pursuant to the provisions of said article 14, the provisions of such agreement and the provisions of the agreement are different from the provisions of this Chapter, the provisions of the agreement shall be controlling. The Comptroller may, upon certification by the Director of Employee Relations, provide for the supplementation of benefits provided hereinabove for officers and employees not in a negotiating unit within the meaning of article 14 of the Civil Service Law.

Part 351 LOANS TO TIER 3, 4, 5 AND 6 MEMBERS

2 CRR-NY 351.1 Background {#sec-2-crr-ny-351.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 351.1}

(a) Chapter 920 of the Laws of 1990 created a statutory program under which tier 3 (Retirement and Social Security Law, section 517-c) and tier 4, 5 and 6 (Retirement and Social Security Law, section 613-b) members of the New York State and Local Employees' Retirement Systems may borrow from their accumulated member contributions. Chapter 171 of the Laws of 2011 created such a program for tier 5 and 6 (Retirement and Social Security Law, section 1207) members of the New York State and Local Police and Fire Retirement System. Sections 517-c, 613-b and 1207 expressly authorize the retirement systems to adopt rules and regulations for administering the provisions of those sections. Sections 519 and 614 of the Retirement and Social Security Law authorize the Comptroller to adopt rules and regulations governing procedural matters applicable to tier 3 and 4 members of the retirement system.

(b) Pursuant to such authority, this Part is being promulgated to implement procedural rules the retirement systems find necessary to administer the loan provisions, and to provide a clear and consolidated restatement of the rules provided in Retirement and Social Security Law, sections 517-c, 613-b and 1207.

2 CRR-NY 351.2 Maximum loan amount {#sec-2-crr-ny-351.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 351.2}

(a) A member may not borrow more than 75 percent of his or her accumulated contributions. In the case of a loan to a member who already has an outstanding loan balance from a previous loan or loans, the amount of such loan may not exceed an amount, which when added to the outstanding balance of previous loans, will exceed 75 percent of the member's accumulated contributions.

(b) Notwithstanding subdivision (a) of this section, a member who first joins the New York State and Local Employees’ Retirement System or the New York State and Local Police and Fire Retirement System on or after January 1, 2018 may not borrow more than 50 percent of his or her accumulated contributions or $50,000, whichever is less. In the case of a loan to such a member who already has an outstanding loan balance from a previous loan or loans, the amount of such loan may not exceed an amount, which when added to the outstanding balance of previous loans, will exceed 50 percent of the member’s accumulated contributions or $50,000, whichever is less.

(c) The amount of all loans outstanding shall not exceed the limitations of Internal Revenue Code section 72(p).

2 CRR-NY 351.3 Application for loans {#sec-2-crr-ny-351.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 351.3}

Applications for loans shall be executed by members on forms prepared by the retirement system.

2 CRR-NY 351.4 Frequency of loans {#sec-2-crr-ny-351.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 351.4}

A member may only borrow once during any 12-month period.

2 CRR-NY 351.5 Rate of interest {#sec-2-crr-ny-351.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 351.5}

The rate of interest payable upon loans made pursuant to this section shall be one percent less than the valuation rate of interest adopted for the retirement systems. However, in no event shall such rate be less than the rate set forth in subdivision (c) of section 517 of the Retirement and Social Security Law, with respect to tier 3 members of the New York State and Local Employees' Retirement System, or the rate set forth in subdivision (c) of section 613 of the Retirement and Social Security Law, with respect to tier 4, 5 and 6 members of the New York State and Local Employees' Retirement System. Any change in the interest rate shall become effective on April 1st. However, the rate of interest applicable to any loan shall be fixed at the time the loan is made and shall not be affected by subsequent changes in the rate of interest applicable to new loans.

2 CRR-NY 351.6 Repayment {#sec-2-crr-ny-351.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 351.6}

(a) Amounts borrowed, together with interest on any unpaid balance, shall be repaid in equal installments which shall be in such amount as the retirement system shall approve; however, they shall be at least two percent of the member's salary and sufficient to repay the amount borrowed, together with interest on the unpaid balances thereof, within a period not in excess of five years.

(b) In the case of a member employed in public service of the State or a participating employer in the retirement system, repayment in such installments shall be made through regular payroll deductions.

(c) In the case of a member who has separated from the service of the State or participating employer in the retirement system, payment shall be made directly to the retirement system in installments of not less than $50; provided further that only one payment may be made during any calendar month.

(d) The member shall pay a service charge on each loan, to be deducted at the time the loan is made. The service charge on loans shall be at a rate to be determined, from time to time, by the Comptroller. Any change in the applicable service charge shall become effective on April 1st and applicable to all loans made during the fiscal year (April 1st - March 31st).

(e) Loan repayments will be suspended during a member's period of military service in accordance with the provisions of section 414(u) of the Internal Revenue Code of 1986, as amended.

2 CRR-NY 351.7 Loan insurance {#sec-2-crr-ny-351.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 351.7}

All loans shall be covered by loan insurance commencing 30 days following the date of the making of the loan, as required by sections 517-c, 613-b and 1207 of the Retirement and Social Security Law. Changes in the loan insurance rate shall become effective on April 1st.

Part 352 INVESTMENT ADVISORY COMMITTEE

2 CRR-NY 352.1 Background and determination {#sec-2-crr-ny-352.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 352.1}

(a) Whereas, the Retirement and Social Security Law establishes the Comptroller as trustee and administrative head of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System, with power to adopt rules and regulations for the custody and control of its Funds (Retirement and Social Security Law, sections 11, 13, 311, 313);

(b) Whereas, the “Common Retirement Fund” Act (sections 420 et seq. of the Retirement and Social Security Law) establishes, under the custody of the Comptroller as trustee, a Common Retirement Fund consisting of the assets of the two systems;

(c) Whereas, the Comptroller in 1959 established the Investment Advisory Committee to advise him in regard to investment policies;

(d) Whereas, the “Common Retirement Fund” Act was amended in 1970 to give statutory status to the committee, providing that the Comptroller shall appoint an Investment Advisory Committee to assist in the management of the monies of the Common Retirement Fund; and

(e) Whereas, in order to accomplish the purpose of such amendment and to provide more specifically for the organization and operation of the Investment Advisory Committee, the Comptroller desires to establish rules in regard to such matters as the number of members of the committee, their selection, the procedures whereby the committee transacts its business, ethical standards, and other related matters, this Part is hereby adopted.

2 CRR-NY 352.2 Membership {#sec-2-crr-ny-352.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 352.2}

(a) The Investment Advisory Committee shall consist of not less than seven members. Members shall be appointed by the Comptroller and shall serve for his term of office. Any vacancy shall be filled by appointment by the Comptroller for the remainder of the term.

(b) Each member of the committee shall be experienced in the field of investments and shall have served, or shall be serving, as a senior officer or member of the board of an insurance company, banking corporation or other financial or investment organization authorized to do business in the State of New York. No officer or employee of any State department or agency shall be eligible for membership on the committee. Members shall be entitled to reimbursement for their actual and necessary expenses, but shall receive no compensation for their services.

2 CRR-NY 352.3 Meeting and action of committee {#sec-2-crr-ny-352.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 352.3}

The committee shall convene periodically at the request of the Comptroller. Where the committee votes to approve appointments to the Real Estate Advisory Committee, the committee shall act only upon the affirmative vote of a majority of the members in attendance or of four members, whichever is greater; provided that members may participate in a meeting and vote on any matter before the committee at such meeting by means of conference telephone or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time and participation by such means shall constitute attendance at such meeting. The Comptroller or his representative shall preside at the meetings.

2 CRR-NY 352.4 Duties {#sec-2-crr-ny-352.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 352.4}

The committee shall advise the Comptroller on investment policies relating to the monies of the common retirement fund and shall review, from time to time, the investment portfolio of the fund and make such recommendations as may be deemed necessary. Such recommendations shall be considered advisory only. The committee shall also provide its advice and consent to the appointment by the Comptroller of a separate Real Estate Advisory Committee to review proposed mortgage and real estate investments by the Common Retirement Fund. In making investments, as authorized by law, the Comptroller shall be guided by policies established by said committees from time to time.

2 CRR-NY 352.5 Code of ethics {#sec-2-crr-ny-352.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 352.5}

The Comptroller shall adopt a code of ethics setting forth standards of conduct for members of the Investment Advisory Committee to avoid potential conflicts between the financial and other personal interests of members of the committee and the interests of the members and beneficiaries of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System. The Comptroller may, in his discretion, amend the code of ethics from time to time. Copies of the code of ethics shall be provided to each person serving on the Investment Advisory Committee, and such persons shall acknowledge receipt of a copy of the code of ethics and shall be bound by the provisions thereof.

Part 353 PROCEDURE FOR DETERMINING APPLICATIONS FOR DISABILITY RETIREMENT UNDER RETIREMENT AND SOCIAL SECURITY LAW, SECTIONS 507-A AND 605

2 CRR-NY 353.1 Background {#sec-2-crr-ny-353.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 353.1}

Articles 14 and 15 of the Retirement and Social Security Law provide disability retirement benefits for certain members of the New York State and Local Employees' Retirement System. The Retirement and Social Security Law authorizes the Comptroller to promulgate regulations with respect to the administration of retirement benefits provided by articles 14 and 15 of the Retirement and Social Security Law. The New York State and Local Employees' Retirement System has developed such appropriate procedures for determining applications for disability retirement under these articles, and this Part is hereby promulgated to set forth and publish such procedures.

2 CRR-NY 353.2 Determining authority {#sec-2-crr-ny-353.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 353.2}

Applications for disability retirement benefits filed pursuant to articles 14 and 15 of the Retirement and Social Security Law shall be determined by a committee of at least three individuals, one of whom shall be a Retirement System Bureau Director, and who shall serve as chairperson, and at least two other committee members, who shall be appointed by the Executive Deputy Comptroller or Deputy Comptroller for the Division of Retirement Services. Appointed committee members shall be individuals employed in a position within the Retirement System and have experience in processing disability retirement applications. If one or more committee members are unavailable, the Executive Deputy Comptroller or Deputy Comptroller for the Division of Retirement Services shall appoint the necessary number of committee members. Such committee is referred to herein as the “determining authority.” Such determining authority shall determine whether a member is permanently incapacitated for the performance of duties. Additionally, the determining authority is authorized, where appropriate, to determine whether there is a causal relationship between alleged accidents or incidents or acts of an inmate sustained in service and the disability claimed by the member. With respect to applications for accidental disability benefits filed under Retirement and Social Security Law section 507, such determining authority shall also determine the issue of causal relationship between alleged accidents and the disability which was the basis of the approval of the member's application for primary social security disability benefits.

2 CRR-NY 353.3 Medical examinations {#sec-2-crr-ny-353.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 353.3}

Where the determining authority finds that an application for benefits under section 507-a or 605 of the Retirement and Social Security Law raises a medical issue or issues, it shall arrange for the medical examinations of the applicant. Each consulting physician who is retained by the Retirement System to conduct an examination for the purposes of evaluating the medical basis of an applicant's application shall be required to report in writing his or her findings. The determining authority shall thereupon consider such report in reaching a determination on the application. Section 507 of the Retirement and Social Security Law provides that determination of the issue of whether a member is permanently incapacitated for the purposes of that section shall be based on the determination approving the member's application for primary social security benefits. Accordingly, the determining authority shall not arrange for medical examinations with respect to applications filed under section 507, unless the determining authority concludes that such examination or examinations are necessary with respect to determining issues of causal relationship between accidents alleged on the application and the incapacity which was the basis of the approval of such member's application for primary social security disability benefits.

2 CRR-NY 353.4 Medical board {#sec-2-crr-ny-353.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 353.4}

The determining authority may consult the medical board established pursuant to section 74 of the Retirement and Social Security Law with respect to any application where it determines that the advice of the medical board would be appropriate or beneficial.

2 CRR-NY 353.5 Review of medical records {#sec-2-crr-ny-353.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 353.5}

Applicants for disability benefits filed pursuant to sections 507-a and 605 are required to identify all hospitalizations and all doctors who have treated the applicant in connection with his or her alleged disability. The determining authority may request that the applicant file a written waiver of confidentiality with respect to medical records relating to such doctors and hospitalizations. Upon receipt of such waiver, the Retirement System shall attempt to obtain all medical records available from each doctor and hospital identified by the applicant, and the determining authority shall review and consider all records so obtained in connection with determining each application.

2 CRR-NY 353.6 Hearing {#sec-2-crr-ny-353.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 353.6}

An applicant may request a hearing and redetermination of any adverse determination by filing a written request for same as provided by section 74 of the Retirement and Social Security Law.

Part 354 RESTORATION TO MEMBERSHIP OF TIER 3 AND 4 SERVICE RETIREES OF THE NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM

2 CRR-NY 354.1 Background {#sec-2-crr-ny-354.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 354.1}

Section 500 of the Retirement and Social Security Law provides that the provisions of article 14 of such law shall apply to all members of the New York State and Local Employees' Retirement System who join or rejoin such system on or after July 1, 1976. The pivotal date is now July 27, 1976, in accordance with the Court of Appeals decision in Civil Service Employees Association, Inc. et al. v. Regan, 71 NY2d 653, 529 NYS2d 461. Article 15 of such law was originally intended to replace and supercede article 14 which, by its own terms, purported to provide that it was to expire on August 31, 1983. However, the Court of Appeals has held that the State Constitution protects members of public retirement systems who were subject to the provisions of article 14 from diminution of rights provided thereunder by subsequent legislation, and, accordingly, that the provisions of article 15 may not be constitutionally applied to individuals who joined such a public retirement system before the September 1, 1983 effective date of article 15 to the extent that such application would diminish or impair rights in and/or benefits from the Retirement System. Accordingly, individuals who last joined the New York State and Local Employees' Retirement System between July 27, 1976 and August 31, 1983 are covered by provisions of both article 14 and article 15. Such individuals are commonly and herein referred to as “Tier 3 members”, whereas individuals who last joined the New York State and Local Employees' Retirement System on or after September 1, 1983 are subject to the provisions of article 15 (but not article 14) and are commonly and herein referred to as “Tier 4” members. Retirement and Social Security Law sections 519 (article 14) and 614 (article 15) both provide that individuals who were last enrolled as members prior to the date which, at the time of their respective enactments, was considered to be the last date an individual could join and thereby achieve Tier 2 member status, shall be entitled, upon re-enrollment to membership after retirement, to all of the rights and privileges of Tier 2 members. In view of the fact that article 15 was originally intended to replace and supercede article 14 with respect to exclusively covering all members who joined the Retirement System after the last date on which they would have been eligible to join as a Tier 2 member, it is clear that section 614(b)(i) is best interpreted to require that Tier 3 members who retire and subsequently rejoin the New York State and Local Employees' Retirement System be accorded all of the rights and benefits of Tier 3 membership. This Part is hereby promulgated to so provide. Sections 519 and 614 further provide that procedural provisions of earlier articles of the Retirement and Social Security Law regarding reemployment of retired members shall apply to members covered by articles 14 and 15. Accordingly, the rules provided herein pertaining to the calculation of benefits upon the retirement of restored members are based on the provisions of section 101 to the extent that such provisions are consistent with the provisions of articles 14 and 15. Sections 517-c and 613-b of the Retirement and Social Security Law, which were enacted pursuant to chapter 920 of the Laws of 1990, establish identical programs under which Tier 3 and Tier 4 members of the New York State and Local Employees' Retirement System may borrow against their accumulated contributions. Neither these sections nor any other provisions of articles 14 and 15 expressly provide how benefits should be calculated in situations where a Tier 3 or 4 member retires with an outstanding loan balance, is subsequently restored to membership and later retires with an outstanding loan balance from a loan taken prior to the first retirement. Sections 517-c and 613-b authorize the Comptroller to promulgate regulations pertaining to the administration of the Tier 3 and Tier 4 loan programs, respectively, and sections 519 and 614 authorize the Comptroller to promulgate regulations pertaining to the administration of the provisions of articles 14 and 15, respectively. In view of the above, this Part is promulgated to provide the rules pertaining to restoration of Tier 3 and Tier 4 pensioners and the procedures to be used to calculate benefits upon the subsequent retirement of Tier 3 and Tier 4 pensioners. It also specifically addresses such calculations with respect to restored members who retire with outstanding loan balances from loans taken before the first retirement, during post-retirement restoration of membership or both.

2 CRR-NY 354.2 Individuals covered by this Part {#sec-2-crr-ny-354.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 354.2}

(a) An individual who retired other than for disability from the New York State and Local Employees' Retirement System under the provisions of article 14 or 15 of the Retirement and Social Security Law, and who subsequently returns to a position in the public service which would mandate or permit membership in the retirement system under such article, shall be covered by this Part.

2 CRR-NY 354.3 Restoration to membership {#sec-2-crr-ny-354.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 354.3}

Any such individual shall be re-enrolled as a member of the Retirement System (unless he or she is re-employed under the provisions of section 210 or 211 of the Retirement and Social Security Law) and the retirement allowance shall be suspended.

2 CRR-NY 354.4 Coverage under retirement option elected {#sec-2-crr-ny-354.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 354.4}

Upon restoration to membership under this Part, the member shall remain covered by any post-death benefit which was applicable at the time of restoration and by the provisions of the option under which he or she last retired, until which time the member attains death benefit eligibility in connection with the member's return to active service.

2 CRR-NY 354.5 Reinstatement of tier status upon restoration {#sec-2-crr-ny-354.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 354.5}

An individual who has previously retired from the New York State and Local Employees' Retirement System under the provisions of either article 14 or article 15 of the Retirement and Social Security Law and who is re-enrolled as a member of such system upon return to active employment with the State or a participating employer shall be subject, during such reinstated membership, to coverage by the same article or articles of the Retirement and Social Security Law as were applicable prior to retirement, and shall be deemed to have retained the tier status he or she had immediately prior to the previous retirement.

2 CRR-NY 354.6 Calculation of benefits for restored members {#sec-2-crr-ny-354.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 354.6}

Upon retirement of a restored member, benefits shall be payable as follows:

(a) If the member has not earned at least two years of member service credit subsequent to restoration of membership, there shall not be a recalculation of benefits. Rather, the original retirement allowance under the option previously established shall be reinstated, and member contributions made since such restoration shall be refunded to the member by the Retirement System. The original retirement date shall remain applicable for the purposes of determining eligibility for post-retirement death benefits.

(b) If the member has earned at least two years of member service credit after restoration, such member shall, at his or her option, be eligible to retire with either of the following benefit calculations:

(1) The member shall be credited with all member service earned subsequent to restoration to membership, and receive a retirement allowance which shall consist of the actuarial equivalent of the pension which the member was receiving immediately prior to the last restoration to membership, plus a pension based upon the member service credit earned subsequent to restoration to membership. Such latter pension shall be computed as if he or she were a new member when he or she last became a member.

(2) The total service credited at the time of the earlier retirement may, at the member's option, again be credited, in addition to all member service earned subsequent to restoration to membership, if the member returns to the Retirement System the actuarial equivalent of the amount of retirement benefits received, plus interest at the rate of five percent per annum. In the event such amount is not so repaid, such actuarial equivalent shall be deducted from the subsequent retirement allowance.

2 CRR-NY 354.7 Computation of benefits for restored Tier 3 and Tier 4 members who retire with an outstanding loan balance {#sec-2-crr-ny-354.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 354.7}

(a) Upon restoration to membership pursuant to this Part, neither the contribution balance nor the loan balance that was outstanding at the time of retirement shall be restored. However, upon the retirement of a Tier 3 or Tier 4 member who has previously retired with an outstanding loan balance and who has subsequently been restored to membership, the retirement allowance shall be reduced by the same amount as it was reduced pursuant to either subdivision (i) of section 517-c of the Retirement and Social Security Law or subdivision (h) of section 613-a of the Retirement and Social Security Law (whichever was applicable in connection with the previous retirement).

(b) If a restored Tier 3 or 4 member retires with an outstanding balance from a loan taken during a post-retirement restored membership, benefits payable shall be reduced with respect to any outstanding loan balance from such loan pursuant to the provisions of subdivision (i) of section 517-c of the Retirement and Social Security Law or subdivision (h) of section 613-a of such law, as applicable, and calculated as of the date of such subsequent retirement.

Part 356 NEW ROLLOVER AND WITHHOLDING RULES PURSUANT TO THE UNEMPLOYMENT COMPENSATION AMENDMENTS OF 1992 AND THE PENSION PROTECTION ACT OF 2006

2 CRR-NY 356.1 Background {#sec-2-crr-ny-356.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 356.1}

Whereas Public Law 102-318, known as the Unemployment Compensation Amendments of 1992 (“UCA”), amended section 402(f) of the Internal Revenue Code (“the Code”) with respect to distributions made after December 31, 1992; and whereas the UCA requires the New York State and Local Retirement Systems to amend the plans they administer on or before December 31, 1993 so as to conform with UCA provisions on distributions, and requires such plan amendments to be retroactive to January 1, 1993; this Part is hereby promulgated to amend the rules pertaining to distributions made by the New York State and Local Retirement Systems on or after January 1, 1993 so as to conform with the requirements of the Internal Revenue Code.

2 CRR-NY 356.2 Elections {#sec-2-crr-ny-356.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 356.2}

This Part applies to distributions made on or after January 1, 1993. Notwithstanding any provision applicable to members and beneficiaries of the New York State and Local Retirement Systems to the contrary that would otherwise limit a distributee's election under this Part, a distributee may elect at the time and in the manner prescribed by the comptroller, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover, subject to the limitations provided in sections 356.4, 356.5 and 356.6 of this Part.

2 CRR-NY 356.3 Definitions {#sec-2-crr-ny-356.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 356.3}

(a) Eligible rollover distribution.

An eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the distributee, except that an eligible rollover distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee's designated beneficiary, or for a specified period of 10 years or more; any distribution to the extent such distribution is required under section 401(a)(9) of the Internal Revenue Code; and the portion of any distribution that is not includible in gross income; and any other distribution(s) that is reasonably expected to total less than $200 during a year (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities). A portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to an eligible plan if the plan provides for separate accounting for amounts so transferred (including interest thereon) including separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible.

(b) Eligible retirement plan.

An eligible retirement plan is an individual retirement account described in section 408(a) of the Internal Revenue Code, an individual retirement annuity described in section 408(b) of the Internal Revenue Code, an annuity plan described in section 403(a) of the Internal Revenue Code, an annuity contract described in section 403(b) of the Internal Revenue Code, an eligible plan under section 457(b) of the Internal Revenue Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan, effective January 1, 2008, a Roth IRA subject to the limitations set forth in section 408A of the Internal Revenue Code, or a qualified trust described in section 401(a) of the Internal Revenue Code, that accepts the distributee's eligible rollover distribution.

(c) Distributee.

A distributee includes a member or former member. In addition, the member's or former member's surviving spouse and the member's or former member's spouse or former spouse who is the alternate payee under a qualified domestic relations order, as defined in section 414(p) of the Internal Revenue Code, are distributees with regard to the interest of the spouse or former spouse. Effective April 1, 2010, a distributee also includes the member's non-spouse designated beneficiary. In the case of a non-spouse beneficiary, the direct rollover may be made only to an individual retirement account or annuity described in section 480(a) or (b) of the Internal Revenue Code ("IRA"), that is established on behalf of the designated beneficiary and that will be treated as an inherited IRA pursuant to the provisions of section 402(c)(11) of the Internal Revenue Code, as added by the Pension Protection Act of 2006.

(d) Direct rollover.

A direct rollover is a payment by the New York State and Local Retirement Systems to an eligible retirement plan specified by the distributee.

2 CRR-NY 356.4 Minimum rollover amount {#sec-2-crr-ny-356.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 356.4}

A distributee may elect to have a direct rollover of an eligible rollover distribution if the sum total of all eligible rollover distributions that a distributee will receive in a taxable year is equal to or greater than $200. A distributee may not elect a direct rollover (and the Retirement Systems will not withhold taxes from eligible rollover distributions) if the total of all eligible distributions that the distributee will receive in a taxable year will be less than $200.

2 CRR-NY 356.5 Partial rollovers {#sec-2-crr-ny-356.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 356.5}

A distributee may not elect to have a direct rollover of only a portion of an eligible rollover distribution unless the portion to be rolled over is equal to or greater than $500.

2 CRR-NY 356.6 Multiple rollovers {#sec-2-crr-ny-356.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 356.6}

(a) A distributee may elect to have direct rollovers of specified portions of an eligible rollover distribution to more than one eligible retirement plan, subject to the limitation provided in section 356.5 of this Part, if the distribution is one which has become payable on account of the death of a member or beneficiary.

(b) With respect to an eligible rollover distribution which becomes payable for reasons other than the death of a member or beneficiary, a distributee may not elect to have a direct rollover made to more than one eligible retirement plan.

Part 357 SERVICE CREDIT FOR TIER 3 AND 4 MEMBERS OF THE NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM WHO ARE RECEIVING WORKERS' COMPENSATION BENEFITS FOR INJURIES SUSTAINED IN EMPLOYMENT WITH THE STATE

2 CRR-NY 357.1 Background {#sec-2-crr-ny-357.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 357.1}

Amendments to section 209-a of the State Finance Law provide for differing rules for different groups of State employees with respect to eligibility for workers' compensation supplements. Under the law, certain employees will not be entitled to receive workers' compensation supplements, which are paid on the regular employee payroll, while other groups will be entitled to receive such supplements for specified periods of time. Certain employees who are not receiving such supplements are nonetheless entitled to retirement service credit for certain periods during which they are out of service and receiving workers' compensation benefits, and must pay any required member contributions for such credit. Section 209-a further provides that the Comptroller must promulgate regulations with respect to procedures for payment of member contributions by employees who are out of service and receiving workers' compensation benefits, and this Part is hereby promulgated to provide such procedures. Under the statutory scheme discussed above, it remains practicable for the retirement systems to collect required member contributions from employers on behalf of employees who receive supplements, in the form of payroll deductions. However, it is not possible for the retirement system to receive contributions in the form of payroll deductions with respect to employees who do not receive supplements while out on workers' compensation leave. Furthermore, it would be unduly financially burdensome for employees who do not receive supplements to be required to make member contributions before they return to paid service. Accordingly, this Part establishes different procedures for collection of member contributions with respect to employees who do and do not receive workers' compensation supplements from their employers while out of service and receiving workers' compensation benefits.

2 CRR-NY 357.2 Payment of member contributions during periods in which a member receives workers' compensation supplements {#sec-2-crr-ny-357.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 357.2}

The retirement system shall continue to receive member contributions, made by the member through regular payroll deductions, during any period during which a member is out of service and receiving a workers' compensation supplement under section 209-a of the State Finance Law or any similar provision of law authorizing retirement service credit for such leave. The member shall be credited with full service credit for any such period.

2 CRR-NY 357.3 Payment of member contributions by members who do not receive supplements {#sec-2-crr-ny-357.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 357.3}

A member who is not entitled to receive a workers' compensation supplement for periods during which such member is out of service and receiving workers' compensation benefits, but who is statutorily entitled to receive service credit for all or a portion of the period he or she is out of service and receiving such benefits, shall pay the contributions required in connection for such credit, plus applicable interest, by means of payroll deduction after returning to the employee payroll. Repayment shall be at a rate sufficient to complete payment in a period of time equal to the period being credited in connection with such payment of contributions. In the event that complete repayment is not made prior to commencement of retirement system benefit payments, the amount of outstanding contributions, plus interest, shall be deducted from the initial payment of such retirement system benefits, until all repayment is completed.

Part 358 CALCULATION OF DISABILITY RETIREMENT BENEFITS FOR RESTORED SERVICE RETIREES UNDER RETIREMENT AND SOCIAL SECURITY LAW ARTICLES 11, 14, AND 15

2 CRR-NY 358.1 Applicability {#sec-2-crr-ny-358.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 358.1}

This part shall apply to disability retirement benefits payable to individuals who, following service retirement, are restored to membership in either the New York State and Local Employees' Retirement System or the New York State Police and Fire Retirement System and who are subsequently granted disability retirement under the provisions of article 11, 14, or 15 of the Retirement and Social Security Law.

2 CRR-NY 358.2 Final average salary {#sec-2-crr-ny-358.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 358.2}

Final average salary shall be determined pursuant to the provisions of the Retirement and Social Security Law that would be applicable based on the date of the restored membership. However, for the purpose of calculating annual average salary, the employment prior to the disability and the post restoration employment shall be considered continuous. Accordingly, the final average salary calculations shall include compensation earned during the final average salary period, from either employment or both, as appropriate.

2 CRR-NY 358.3 No reduction on account of service retirement benefits received {#sec-2-crr-ny-358.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 358.3}

The amount of disability retirement benefits payable to an individual who was restored to membership following service retirement shall not be reduced in connection with the amount of service retirement benefits paid prior to restoration.

Part 359 ADMINISTRATIVE REVIEW LAW REQUIREMENTS AND PROCESSING PROCEDURES

2 CRR-NY 359.1 Background {#sec-2-crr-ny-359.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 359.1}

Chapter 437 of the Laws of 1993 added article 18 to the New York State Retirement and Social Security Law, which authorizes the granting of retroactive transfer, retroactive membership and credit for previous service in certain situations. Article 18, often referred to as the “Administrative Review Law,” includes three sections which provide relief under different circumstances. Section 801 of the Retirement and Social Security Law allows for retroactive transfer between public retirement systems by certain members who were previously entitled to transfer membership in a public retirement system, but failed to make a timely election. This may result in a tier change based on a new date of membership. Section 802 of the Retirement and Social Security Law allows credit for service which was previously credited by a public retirement system but never transferred. Granting of credit under section 802 of the Retirement and Social Security Law will not affect a member's date of membership or tier status. Section 803 of the Retirement and Social Security Law allows for retroactive membership. This provision also may result in tier changes based on the new retroactive membership date.

Section 804 authorizes the comptroller to promulgate rules and regulations to implement the provisions of article 18, and this Part is promulgated pursuant to such section.

2 CRR-NY 359.2 Applicability {#sec-2-crr-ny-359.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 359.2}

The rights and benefits provided under article 18 and covered by this Part are applicable to members of public retirement systems of the State. However, article 18 does not permit any transfer to or from a New York City system and does not allow granting of retroactive membership or credit based on New York City service (whether or not this service is ordinarily covered by the New York State and Local Employees' Retirement System) unless such city adopts article 18 in its entirety. If the City of New York adopts article 18, the New York City Employees' Retirement System, the New York City Teachers' Retirement System, the New York City Police Pension Fund, the New York City Fire Department Pension Fund and the New York City Board of Education Retirement System will then be considered “public retirement systems” for the purposes of article 18.

2 CRR-NY 359.3 Transfer rights under section 801 {#sec-2-crr-ny-359.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 359.3}

(a) Background.

Under this section, members who were previously eligible to transfer between public retirement systems of the State, and who did not elect to transfer while both memberships were active, may be eligible to apply for this transfer. Section 801 of the Retirement and Social Security Law also permits retroactive transfer, in certain cases, by members who commenced employment which made them eligible to join a second public retirement system before their membership in the first retirement system terminated. For the purposes of section 801, public retirement system means the New York State and Local Employees' Retirement System, the New York State and Local Police and Fire Retirement System and the New York State Teachers' Retirement System. If New York City enacts legislation adopting the provisions contained in article 18, the term public retirement system shall also apply to the public retirement systems of New York City.

(b) Filing requirements.

To transfer a previous membership under section 801 of the Retirement and Social Security Law, a member must file a written transfer request on a form provided by his or her current retirement system with such retirement system. Forms may be filed on or after October 24, 1993 and may not be filed any later than October 23, 1994. Application forms are available from the retirement system or from employers.

(c) Contents of application.

In completing the written request, a member must provide a description of the previous membership and should include:

(1) the name of the previous retirement system;

(2) the retirement system registration number (if known); and

(3) the dates of employment.

(d) Effects of transfer under section 801.

A retroactive transfer to the New York State and Local Retirement Systems may result in a tier change, since a member's date of membership in the first retirement system is also “transferred.” Tier status will be based on the date of membership in the system from which membership is transferred.

(e) Member contributions.

Payment of additional member contributions required in connection with a transfer under section 801 of the Retirement and Social Security Law must be made in a lump sum within one year after the member is notified by his or her current retirement system as to the amount of member contributions required for such transfer.

(f) Determination and hearings.

Upon review of the application and the pertinent facts, the retirement system shall issue a determination either approving or disapproving an application for transfer under section 801 of the Retirement and Social Security Law. An applicant shall be entitled to request an administrative hearing pursuant to section 74 or section 374 of the Retirement and Social Security Law, as appropriate, in the event of an adverse determination.

2 CRR-NY 359.4 Rights to credit for previously credited service under Retirement and Social Security Law, section 802 {#sec-2-crr-ny-359.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 359.4}

Under section 802 of the Retirement and Social Security Law, a member may become eligible to receive credit for service rendered prior to the current date of membership, subject to the eligibility requirements provided below and/or otherwise provided by statute. Crediting of service under section 802 of the Retirement and Social Security Law does not affect an individual's date of membership or retirement system tier status.

(a) Eligibility requirements:

(1) The service must be otherwise creditable under the provisions of the Retirement and Social Security Law.

(2) Service credit must have been previously credited by a public retirement system of the State for any period for which credit is sought under section 802 of the Retirement and Social Security Law. (See section 359.2 of this Part regarding the pertinent definition of “public retirement system of the State”).

(3) The service must not be currently credited in any other public retirement system in New York State, or in a retirement system of any other state or the Federal government.

(4) A member must have rendered at least five years of credited service since last joining a public retirement system.

(5) A member must file a written request with the retirement system for retroactive credit being sought under section 802 of the Retirement and Social Security Law. The request should indicate the dates of service for which credit is sought. While there is no deadline for filing such a written request, the amounts necessary for purchase of the service credit must be deposited with the retirement system prior to the effective date of retirement.

(6) Payment of contributions required for service to be credited under section 802 of the Retirement and Social Security Law, plus applicable interest, shall be made by means of lump sum payment or by payroll deduction. The repayment period may be any period of time less than or equal to the period of previous service to be credited.

(7) If the member does not complete payment of required contributions plus applicable interest prior to the effective date of retirement, the retirement system shall grant credit proportional to the amount of payment received on or before such date.

(b) Determination and hearings.

Upon review of the application and the pertinent facts, the retirement system shall issue a determination either approving or disapproving an application for service credit under section 802 of the Retirement and Social Security Law. An applicant shall be entitled to request an administrative hearing pursuant to section 74 or section 374 of the Retirement and Social Security Law, as appropriate, in the event of an adverse determination.

2 CRR-NY 359.5 Retroactive membership under section 803 {#sec-2-crr-ny-359.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 359.5}

Section 803 of the Retirement and Social Security Law provides public retirement systems with the authority to grant retroactive retirement system membership in connection with service rendered prior to April 1, 1993, in appropriate cases. Assignment of a retroactive date of membership may affect an individual's tier status in the retirement system.

(a) Filing.

A member must file an application for retroactive membership on or before October 24, 1996. In order to ensure that there is no confusion between written “inquiries” and applications for benefits, applications for retroactive membership should be filed on forms provided by the retirement system for such purpose. Forms are available from the retirement system and from employers. A member may withdraw an application for retroactive transfer by requesting withdrawal in writing within 30 days following notification to the member of the member costs of retroactive membership.

(b) To be eligible for retroactive membership under section 803 of the Retirement and Social Security Law, an individual must be a member at the time application is made and must have been a member on March 31, 1993.

(c) Continuous service.

In order to be eligible for retroactive membership under section 803 of the Retirement and Social Security Law, a member must have rendered “continuous service” from the membership date being sought under section 803 through the current date of membership, in a position or positions which would have entitled the individual to join a public retirement system. For the purposes of section 803 only, service will be considered “continuous” with respect to any plan year in which the individual rendered at least 20 days of retirement system eligible service. With respect to the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System, a plan year begins on April first and ends on the next following March 31st. Service which is otherwise continuous under this rule will be considered continuous despite one break in service up to one plan year, or up to two plan years if the break in service is due to the birth of a child, care for such child, or placement with the member of a child for adoption or foster care.

(d) No previous opportunity to join the retirement system.

Under section 803 of the Retirement and Social Security Law, a member is not eligible for retroactive membership if such member was previously afforded an actual opportunity to join or decline membership in the retirement system.

(e) Employer affidavit.

The employer which employed a section 803 applicant on the date of retroactive membership being sought must file an affidavit with the retirement system on behalf of each section 803 applicant. The completed affidavit must indicate the dates of the member's employment, and whether the member:

(1) expressly declined membership in a form filed with that employer; or

(2) participated in a program or procedure explaining the option to join the retirement system in which a form, booklet, or other written material explaining the individual's right to join was read from, explained or distributed; or

(3) participated in a program or procedure that a reasonable person would recognize as an actual opportunity to join or decline membership in the retirement system.

The individual completing the affidavit shall also indicate whether the employer has instituted a procedure under which an employee may present evidence on the issue of whether he or she was afforded a previous opportunity to join or decline membership in the retirement system. An employer who determines that an individual was afforded the previous opportunity to join or decline membership in the retirement system shall explain the basis of such determination and forward all pertinent evidence to the retirement system together with the completed affidavit.

(f) Employer costs.

An employer shall make an annual election whether to pay any required costs on account of individuals granted retroactive membership over one year, five years or 10 years. One election shall cover all individuals granted retroactive membership during a fiscal year. Such an election must be received by the retirement system within 30 days after receipt of a request to make such an election. In the event no timely election is received, the employer will be deemed to have elected to pay the costs attributable to members granted benefits during such fiscal year over a five-year period.

(g) Retirement system administrative review.

Where the employer, following the employer review process, determines and advises the retirement system that the member was afforded a previous opportunity to join the retirement system, the retirement system shall notify the applicant of this determination. Upon written request from the applicant, the retirement system shall administratively review the employer determination. Both the member and his or her employer shall be entitled to provide evidence for the retirement system to consider during the administrative review process. The retirement system shall establish a review board, which shall consider such evidence and any evidence presented by the employer pursuant to subdivision (e) of this section. The retirement system review board may also request additional information from either or both of the parties. Following the conclusion of the administrative review process, the retirement system shall issue a final determination either approving or disapproving the application for retroactive membership. An applicant or an employer may request an administrative hearing and redetermination under section 74 or section 374 of the Retirement and Social Security Law, as appropriate, with respect to such final determination. Such a request must be in writing, and received within four months from the date of the final determination. The employer and applicant shall be notified of and entitled to appear as interested parties at any hearing conducted pursuant to such a request.

Part 360 SERVICE CREDITING FOR TIER 2, 3 AND 4 COMMUNITY COLLEGE EMPLOYEES

2 CRR-NY 360.1 Background and applicability {#sec-2-crr-ny-360.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 360.1}

Sections 446, 513 and 609 of the Retirement and Social Security Law were amended by chapters 310 and 311 respectively of the Laws of 1993 to provide that employees of community colleges, as that term is defined in section 6301 of the Education Law, who are in the classified service, as that term is defined in section 40 of the Civil Service Law, or in the unclassified service, as that term is defined in section 35 of the Civil Service Law, shall receive one year of service credit if they have been employed full-time for the school year. Sections 446, 513 and 609 authorize the Comptroller to promulgate regulations defining the term “school” year for the purposes of determining service credit pursuant to sections 446, 513 and 609 of the Retirement and Social Security Law. Chapter 310, which covers employees in the classified service, applies to school years commencing with the 1993-1994 school year. Chapter 311, which covers employees in the unclassified service, applies retroactively to school years beginning on or after July 1, 1973 with respect to individuals who last joined the New York State and Local Employees' Retirement System on or after July 1, 1973 and before July 27, 1976 and who were not retired as of July 21, 1993. Chapter 311 also applies retroactively to school years beginning on or after July 27, 1976 with respect to individuals who last joined the New York State and Local Employees' Retirement System on or after July 27, 1976 and before September 1, 1983 and who were not retired as of July 21, 1993, and to school years beginning on or after September 1, 1983 with respect to individuals who last joined the New York State and Local Employees' Retirement System on or after September 1, 1983 and who were not retired as of July 21, 1993.

2 CRR-NY 360.2 Definition of school year {#sec-2-crr-ny-360.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 360.2}

Individuals covered by this Part, as described in section 360.1 of this Part, shall be considered to have been employed full-time for an entire school year for service crediting purposes if and only if they have been reported by the employer to the Retirement System as being paid on the payroll for not less than 170 days (including paid vacation and paid holidays) between July 1st of any calendar year and June 30th of the following calendar year.

2 CRR-NY 360.3 Service credit {#sec-2-crr-ny-360.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 360.3}

Employees of community colleges who have been employed full-time for a school year, as defined in section 360.2 of this Part shall receive a full year of service credit for such school year.

Part 361 CREDIT UNDER RETIREMENT AND SOCIAL SECURITY LAW SECTION 384-D FOR SERVICE RENDERED FOR A PREVIOUS EMPLOYER

2 CRR-NY 361.1 Section 384-d credit for previous employment {#sec-2-crr-ny-361.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 361.1}

A member who retires, dies or separates from service on or after April 1, 1994, while enrolled in the retirement plan provided by section 384-d of the Retirement and Social Security Law, shall receive credit under such plan for service rendered with a previous police or fire department employer under the following circumstances:

(a) the service rendered with the previous employer was originally credited under the section 384-d plan; or

(b) the previous employer adopted section 384-d coverage prior to the member's retirement or termination of membership; or

(c) the current employer did not adopt section 384-d coverage until after the member commenced employment with such employer.

Part 363 ELECTION BY ARTICLE 14 MEMBERS OF EITHER THE ARTICLE 14 OR ARTICLE 15 BENEFIT CALCULATION PURSUANT TO CHAPTER 537 OF THE LAWS OF 1994

2 CRR-NY 363.1 Applicability {#sec-2-crr-ny-363.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 363.1}

This Part shall apply to service and vested retirements of individuals covered by article 14 of the Retirement and Social Security Law, where the effective date of retirement is on or after September 24, 1994. Notwithstanding the above, it shall not apply to individuals who have irrevocably waived rights to benefits provided by article 15. This Part provides the procedures under which a member of the New York State and Local Employees' Retirement System who is covered by article 14 of the Retirement and Social Security Law and who, on the effective date of service or vested retirement:

(a) has accrued less than 30 years of credited service and has not attained age 60; or

(b) has attained age 60 but has not attained age 62, and has accrued at least 20, but less than 25 years of credited service, shall elect to receive service retirement benefits of vested retirement benefits calculated under either the provisions of article 14 or article 15 of such law.

This Part shall also provide the manner in which the Retirement System shall calculate retirement benefits for all other members who are covered by article 14, and shall explain why no election is required for such individuals.

2 CRR-NY 363.2 Background {#sec-2-crr-ny-363.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 363.2}

(a) Chapter 537 of the Laws of 1994 amended sections 603 and 612 of the Retirement and Social Security Law with respect to the eligibility of members covered by the provisions of article 15 of such law to retire at age 55, with benefit reduction for early (prior to attainment of age 62) retirement. Chapter 537 also amended sections 603 and 612 so as to permit individuals covered by article 15 to retire at age 55 with no reduction for such early retirement where the individual has at least 30 years of credited service at retirement.

(b) With the exception of certain corrections officers and security hospital treatment assistants who have waived article 15 coverage as a prerequisite to eligibility to participate in special plans provided by article 14, members of the New York State and Local Employees' Retirement System who are covered by article 14 (sometimes hereinafter referred to as "article 14 members") are also covered by article 15 of such law. Therefore, an article 14 member who applies for service or vested retirement benefits is entitled to benefits calculated under the article which will provide the greater benefit (assuming the member meets the eligibility requirements under both articles).

(c) For certain article 14 members, the amount of the service retirement benefit and the vested retirement benefit payable under article 15 will always be greater than the amount that would be payable under article 14, regardless of how long such an individual may live following retirement. The article 14 members for whom the article 15 calculation will always produce a larger monthly benefit are those who, on the effective date of retirement:

(1) have accrued at least 30 years of service credit; or

(2) have attained age 60 and who have accrued less than 20 years of credited service; or

(3) have attained age 60 and have accrued at least 25 years of credited service. In view of the above, the Retirement System will calculate benefits for these three groups of individuals under article 15, as it would serve no valid purpose to require them to elect between the two articles.

(d) By contrast, it cannot be determined at the time of retirement whether benefits will ultimately be greater under article 14 or article 15 for two other groups of article 14 members: those who, on the effective date of retirement,

(1) have not attained age 60 and accrued less than 30 years of credited service; or

(2) have not attained age 62, and have accrued at least 20, but less than 25 years of credited service. For these two groups of individuals, the monthly allowance will be greater under article 14 than under article 15 until attainment of age 62, at which time, article 14 benefits are reduced - to amounts which may be below article 15 levels. (This reduction is a statutory offset by the amount Social Security benefits potentially payable.) Accordingly, whether the benefits payable under article 14 will ultimately be greater over the pensioner's lifetime than those payable under article 15 may depend on how long the individual will live following retirement. Furthermore, an individual may simply prefer to receive benefits calculated under article 14, which produces the larger immediate monthly benefit, even though article 15 might ultimately produce a greater total benefit over the individual's lifetime. Accordingly, it is appropriate to permit such individuals to elect to receive benefits calculated under either article 14 or article 15. This Part will provide the procedure under which such individuals shall elect to retire under either article 14 or article 15.

2 CRR-NY 363.3 Election {#sec-2-crr-ny-363.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 363.3}

A member of the New York State and Local Employees' Retirement System who is covered by article 14 of the Retirement and Social Security Law and who, on the effective date of service or vested retirement:

(a) has not attained age 60 and has accrued less than 30 years of credited service; or

(b) has not attained age 62, and has accrued at least 20, but less than 25 years of credited service, shall receive benefits calculated under the provisions of article 15 of the Retirement and Social Security Law unless the individual files a timely election, as provided in section 363.4 of this Part, to receive benefits calculated under the provisions of article 14.

2 CRR-NY 363.4 Filing {#sec-2-crr-ny-363.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 363.4}

(a) In order to become effective, an election to retire under the calculation provisions of either article 14 or article 15 must be made on form prepared by the Retirement System for such purpose, and timely filed with the Retirement System, as provided in below. Such form must be signed by the member or an individual authorized by law to execute a retirement option on behalf of the member, and such signature must be acknowledged. The executed and acknowledged form must be filed with the Retirement System no later than the 60th day following the effective date of retirement. Once an election has been made by the filing of a completed form, such election may only be changed on or before the 60th day following the effective date of retirement, and such a change may only be accomplished by the filing of another such form, on or before the 60th day following the effective date of retirement. The last timely election filed pursuant to this Part shall become irrevocable on the 60th day following retirement.

(b) Notwithstanding the above, an election will be considered timely filed if filed no later than 14 days following the Retirement System's issuance of a retirement estimate.

(c) In the event that the member shall not have timely filed such an election, service or vested retirement benefits, as appropriate, shall be payable pursuant to the provisions of article 15 of the Retirement and Social Security Law.

2 CRR-NY 363.5 Individuals who need not file an election {#sec-2-crr-ny-363.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 363.5}

(a) Benefits shall be calculated under the provisions of article 15 with respect to individuals covered by article 14 who, on the effective date of retirement:

(1) have accrued at least 30 years of service credit; or

(2) have attained age 60 and who have accrued less than 20 years of credited service; or

(3) have attained age 60 and have accrued at least 25 years of credited service. For these three groups of individuals, the amount of service or vested retirement benefits payable will always be greater under the provisions of article 15 than they would be under the article 14 calculation. Accordingly, benefits payable to these groups of individuals shall be calculated pursuant to the provisions of article 15, and such individuals shall not be required to file an election pursuant to this Part.

(b) With respect to individuals who, at retirement have attained age 62 and have at least 20, but less than 25 years of credited service, the amount of the monthly benefit will not change at a later date under article 14 or 15. While, for this group the question of which article will produce the greater benefit can be determined at retirement, the result varies from individual to individual. Accordingly, the Retirement System will use whatever calculation provides the higher benefit for each member of this group, and these individuals shall not be required to elect between the article 14 and article 15 calculation.

Part 364 JOB DUTIES TO BE CONSIDERED IN PROCESSING DISABILITY RETIREMENT APPLICATIONS

2 CRR-NY 364.1 Background {#sec-2-crr-ny-364.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 364.1}

The sections of the Retirement and Social Security which provide the eligibility requirements for disability retirement benefits require applicants to be permanently incapacitated for the performance of duty. It is clear under the pertinent statutory provisions and case law that the issue of permanent incapacity must be determined on the basis of the individual’s own actual duties.

In 1994, the Comptroller commissioned Buck Consultants, Inc. (“Buck”), to study and make recommendations with respect to the Retirement Systems’ disability retirement programs. This study involved analyses of the programs of many other public systems, and also involved analysis of testimony taken at public meetings conducted by Buck throughout the State. A report of the study’s findings and recommendations was issued by Buck on February 1, 1995. This report found that one of the most significant issues which emerged during the course of the public meetings is how the Retirement System should determine the issue of permanent incapacity with respect to disability retirement applicants (especially police officers and firefighters) who, although permanently disabled from their former full duties are, in fact, performing light duty, limited duty or restricted duty assignments as the case may be (“light duty cases”). Buck further found that some misunderstanding exists, among both participating employers and employees, regarding the System’s policy for determining the permanent incapacity issue in cases where the individual had been assigned to light, limited or restricted duties at the time of or prior to the filing of the disability retirement application.

The Buck report included a recommendation that the System promulgate a regulation which would set forth its policy for determining the permanent incapacity issue in light duty cases and clarify the significance of an applicant having performed overtime work in the months and years immediately preceding the filing of the disability retirement application. This part sets forth the rules and standards to be applied by the Retirement System with respect to determining the issue of permanent incapacity in such cases. This part also guides the employer with respect to providing the pertinent information regarding job requirements, in order to facilitate the Retirement System's attempts to apply such rules and standards.

For the purposes of this part, the term applicant shall mean a member of the New York State and Local Employees' Retirement System or the New York State and Local Police and Fire Retirement System who is the subject of an application for disability retirement filed with the Retirement System either by such member, the member’s employer or an individual legally authorized to file such application on behalf of the member.

2 CRR-NY 364.2 Job descriptions {#sec-2-crr-ny-364.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 364.2}

The employer of an applicant shall, upon request by the New York State and Local Police and Fire Retirement System or the New York State and Local Employees’ Retirement System, provide a written statement which accurately describes the duties of the applicant, as well as the physical or psychological requirements of the position, as provided in section 364.3 of this Part. (The employer shall not merely provide the official Civil Service job description for the title of individuals whose duties and job requirements are not accurately described in the official Civil Service job description).

2 CRR-NY 364.3 Job descriptions for individuals assigned to light, limited or restricted duty {#sec-2-crr-ny-364.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 364.3}

(a) In the case of a member who has been assigned to light, limited or restricted duties for less than two years prior to the date application for disability retirement benefits was filed with the Comptroller (and who has not performed at least 100 hours of paid overtime in any 12-month period within such two-year period), the employer shall provide a written description of the duties and/or physical or psychological job requirements of the full duty assignment that were applicable to the applicant immediately prior to such reassignment to light, limited or restricted duties. With respect to such applicants, the Retirement System shall render its determination on the issue of permanent incapacity on the basis of the duties and job requirements of such previous full duty assignment.

(b) In the case of an applicant who, in connection with an alleged illness, disease, disability or physical limitation, has been continuously assigned to light, limited or restricted duties for at least two years prior to the date application for disability retirement benefits was filed with the Comptroller (whether or not the assignment was made pursuant to an organized light duty or restricted duty program) the employer shall provide a written description of the duties and/or physical or psychological job requirements which have been applicable to the applicant since such reassignment to light, limited or restricted duties. With respect to such applicants, the Retirement System shall render its determination on the issue of permanent incapacity on the basis of such light, limited or restricted duty assignment.

(c) In the case of an applicant who, in connection with an alleged illness, disease, disability or physical limitation, has been continuously assigned to light, limited or restricted duties for at least one year prior to the date application for disability retirement benefits was filed with the Comptroller (whether or not the assignment was made pursuant to an organized light, limited or restricted duty program), and who has performed at least 100 hours of paid overtime, while on light, limited or restricted duty assignment during any 12-month period within the two-year period prior to the filing of the application for disability retirement, the employer shall provide a written description of the duties and/or physical or psychological requirements of the light, limited or restricted duty assignment. With respect to such applicants, the Retirement System shall render its determination on the issue of permanent incapacity on the basis of such light, limited or restricted duty assignment.

Part 366 ESTABLISHING FILING DATE OF DOCUMENTS TRANSMITTED TO THE NEW YORK STATE AND LOCAL RETIREMENT SYSTEMS VIA FACSIMILE (FAX) MACHINE

2 CRR-NY 366.1 Background {#sec-2-crr-ny-366.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 366.1}

(a) Under the Retirement and Social Security Law, it is frequently of great importance to a member, pensioner or employer to file certain documents in a timely manner. In many situations, the Retirement and Social Security Law provides firm deadlines by which important documents, such as benefit application forms, designation of beneficiary forms, option election forms, etc., must be filed. Under a line of cases which predated both the era during which facsimile transmission technology became commonplace and the enactment of sections 19 and 319 of the Retirement and Social Security Law, it was held that a document could not be considered “filed with the Comptroller” for the purposes of the Retirement and Social Security Law until it was actually received by the Comptroller or the Retirement System.

(b) In 1986, the principle that filing could not occur until a document was actually received was qualified by the enactment of sections 19 and 319 of the Retirement and Social Security Law. These sections provide that whenever a statute requires that document be filed with the Comptroller, as Administrative Head of the New York State and Local Retirement Systems, within a prescribed period of time or by a specified date, and such document has been mailed to the Comptroller or the Retirement System by United States Postal Service certified mail, return receipt requested, the document shall be deemed filed on the date of mailing. Sections 19 and 319 further provide that notwithstanding the fact that the filing date may be established as the date of mailing where the document is ultimately thereafter received by the Comptroller or Retirement System, no document shall be deemed filed on the date of mailing unless it is actually received by the Retirement System as a result of such mailing.

(c) Accordingly, sections 19 and 319 establish the principle that while a Retirement System document must be received by the Comptroller or the Retirement System in order to be deemed filed for the purposes of the Retirement and Social Security Law, the date of filing may be established as a date prior to the actual receipt date, where the transmission is attained via a technology that ensures that the Retirement System is able to reliably determine the date of transmission. This Part extends this principle to the transmission of documents via facsimile (“fax”) machine.

2 CRR-NY 366.2 Establishing date of filing for documents transmitted to the Comptroller via facsimile (“fax”) machine {#sec-2-crr-ny-366.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 366.2}

Whenever a statute requires that document be filed with the Comptroller, as Administrative Head of the New York State and Local Retirement Systems, within a prescribed period of time or by a specified date, such document will be considered filed on the date that it has been successfully transmitted via facsimile (“fax machine”) to the Retirement System. Notwithstanding the fact that the filing date may be established as the date of successful transmission via facsimile (“fax”) machine, no document shall be deemed filed on the basis of successful facsimile transmission unless the original document is subsequently received by the Retirement System.

2 CRR-NY 366.3 Excusing non-receipt of original document following facsimile transmission {#sec-2-crr-ny-366.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 366.3}

Notwithstanding the provisions of section 366.2 of this Part, the Comptroller may, for reasonable cause, consider a document to have been filed on the date of successful facsimile transmission where the original document is not thereafter actually received by the Comptroller or the Retirement System.

Part 368 DEATH AND DISABILITY BENEFITS SUBJECT TO THE OLDER WORKERS' BENEFIT PROTECTION ACT

2 CRR-NY 368.1 Background {#sec-2-crr-ny-368.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 368.1}

In October 1990 the Federal Older Workers' Benefit Protection Act (hereinafter “OWBPA”) was signed into law. OWBPA essentially requires the elimination of certain aged-based discriminatory distinctions in death benefits provided by employers. OWBPA applies to death benefits payable by the Retirement System on account of all deaths which occurred on or after October 16, 1992 and all disability retirement benefits which became effective on or after such date.

OWBPA does not mandate specific death or disability benefit calculation formulas. Rather it provides conceptual guidelines under which such calculation formulas must comply. Accordingly, in order to bring the Retirement Systems' death benefit calculation structures into compliance with OWBPA, it was first necessary to review and analyze the several death and disability benefit provisions of the Retirement and Social Security Law and the provisions of OWBPA. This was necessary in order to assess the extent and manner in which the Retirement and Social Security Law benefit provisions were violative of OWBPA and the manners in which the benefit formulas/structures could be changed in a manner which would satisfy the requirements of OWBPA and fulfill the Comptroller's fiduciary responsibilities as Trustee of CRF.

In furtherance of the Comptroller's intention to bring the Retirement Systems' death benefit structure into compliance with OWBPA, the Comptroller, in 1992, commissioned Buck Consultants, Inc. (hereinafter “Buck”) to analyze such death benefit structure to determine whether and to what extent such structure violated OWBPA. Under this engagement, Buck was also asked to recommend the best approaches to amending the benefit structure to comply with OWBPA in a manner consistent with the Comptroller’s fiduciary responsibilities as Trustee of CRF. The results of Buck’s efforts were summarized in a document entitled “Report on the Impact of the Older Workers' Benefit Protection Act on the New York State and Local Employees’ and Fire Retirement Systems” (hereinafter the “Buck Report”) issued on January 18, 1993. The Buck Report contained a recommendation as to how the Retirement System's death benefit structure should be revised so as to comply with OWBPA.

Under article 5, section 7 of the New York State Constitution, members’ rights in the Retirement System must be considered contractual rights of employment which may not be diminished or impaired. Accordingly, the death benefit formulas could not have been restructured so as to not be age discriminatory by reducing the benefits payable on account of the deaths of younger members, without violating the State Constitution. Rather, in order to comply with both OWBPA and the New York State Constitution, the death benefit structure had to be revised in a manner which increased benefits payable on account of the deaths of older members (without decreasing amounts payable on account of younger members).

There are two ways under which an employer may provide employee disability and death benefit plans which comply with OWBPA. The first of the two — the “equal benefits” approach is to provide benefits under which the calculations and eligibility requirements do not contain age-based distinctions. The second means of compliance is commonly referred to as the “equal costs” method, under which the costs of providing benefits to different aged individuals are equal. To use the more common terminology, a benefit plan with age-based distinctions may comply with OWBPA if the age-based distinctions can be “cost-justified.”

In view of the State Constitution’s mandate that the Retirement System bring its death and disability benefit structure in compliance with OWBPA without reducing the benefits payable to or on account of the death of younger members, it was less costly for the Retirement Systems to adopt and implement “cost-justified” death and disability retirement benefit structures than it would have been to implement “equal benefits” structures. However, minimizing the cost of complying with OWBPA, while important, is not the only reason that a cost-justified approach was utilized by the Retirement Systems. The Comptroller had a fiduciary obligation to accomplish compliance in a manner which followed the existing state statutory benefit structure as closely as possible. Accordingly, the fact that the existing provisions of the RSSL make aged-based distinctions in benefit calculations required adoption of a “cost-justified” benefit structure.

The Comptroller has directed the Retirement Systems to commence paying disability and death benefits under calculation formulas that have been restructured, pursuant to the recommendations in the Buck Report, to comply with OWBPA in the manner that is both the least costly means of compliance and which adheres most closely to the formulas provided in the Retirement and Social Security Law. The Retirement Systems have been paying all new death and disability benefits under such OWBPA-complying formulas and are approaching completion of paying additional recalculated benefits to all death benefit beneficiaries and disability pensioners who originally were paid non-complying amounts since the October 1992 compliance date.

This Part is promulgated for the purposes of publishing the disability and death benefit formulas that have been restructured as required by OWBPA.

2 CRR-NY 368.2 Disability retirement benefits {#sec-2-crr-ny-368.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 368.2}

(a) With respect to ordinary disability retirement benefits payable pursuant to paragraph 1 of subdivision b of section 62 of the Retirement and Social Security Law, if the member has attained age 60 when such retirement becomes effective, his retirement allowance shall be equal to that which he would receive in the case of superannuation retirement, unless the member is enrolled in a plan provided under section seventy-a, section seventy-one-a or section seventy-five of this article, in which case the benefit shall be calculated in the manner described in clause two of subparagraph (c) of paragraph two of subdivision b of such section 62.

(b) With respect to ordinary disability retirement benefits payable pursuant to paragraph 1 of subdivision b of section 362 of the Retirement and Social Security Law, if a member has attained age 60 when such retirement becomes effective, his retirement allowance shall be equal to that which he would receive in the case of superannuation retirement, unless the member is enrolled in a plan provided under section three hundred seventy-a, section three hundred seventy-one-a or section three hundred seventy-five of this article, in which case the benefit shall be calculated in the manner described in clause two of subparagraph (c) of paragraph two of subdivision b of such section 362.

(c) With respect to ordinary disability benefits payable pursuant to section 506 of the Retirement and Social Security Law, a member of the New York State and Local Employees’ Retirement System who is otherwise eligible for ordinary disability benefits under such section shall not be deemed to be ineligible for such benefits because of such member’s eligibility for a normal retirement benefit.

(d) With respect to disability benefits payable pursuant to section 507 of the Retirement and Social Security Law, a member of the New York State and Local Employees’ Retirement System who is otherwise eligible for accidental disability benefits under this section shall not be deemed to be ineligible for such benefits because of such member's eligibility for a normal retirement benefit.

(e) With respect to disability benefits payable pursuant to subdivision d of section 605 of the Retirement and Social Security Law, the minimum benefit payable to a member of the New York State and Local Employees’ Retirement System who has been determined to be physically or mentally incapacitated for performance of gainful employment as the natural and proximate result of an accident not caused by willful negligence sustained in the performance of duties in active service while actually a member of the retirement system shall be one-third of such member's final average salary.

2 CRR-NY 368.3 Death benefits {#sec-2-crr-ny-368.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 368.3}

(a) With respect to ordinary death benefits payable pursuant to either:

(1) paragraph 2 of subdivision a of section 448 of the Retirement and Social Security Law;

(2) paragraph 2 of subdivision a of section 508 of the Retirement and Social Security Law, as added by chapter 890 of the laws of 1976;

(3) paragraph 2 of subdivision a of section 508 of the Retirement and Social Security Law, as added by chapter 617 of the Laws of 1986;

(4) subdivision b of section 508 of the Retirement and Social Security Law;

(5) subdivision d of section 605 of the Retirement and Social Security Law; or

(6) paragraph 2 of subdivision a of section 606 of the Retirement and Social Security Law, a benefit shall be payable upon the death of a member in service equal to the member’s salary upon his completion of one year of service, two years’ salary upon completion of two years of service, and three years’ salary upon completion of three years of service.

Such benefit shall not be reduced on the basis of the member’s age at the time of entry into membership. In the case of any member of the New York State and Local Employees’ Retirement System who is permitted to retire without regard to age or a member of the New York State and Local Police and Fire Retirement System, commencing upon attainment of age 61, the benefit otherwise provided shall be reduced while the member is in service to 97 per centum of the benefit otherwise payable, and each year thereafter the benefit payable shall be reduced by an amount equal to three per centum per year of the original benefit otherwise payable, but not below 70 per centum of the original benefit otherwise payable. In the case of any other member of the New York State and Local Employees’ Retirement System, commencing upon attainment of age 61, the benefit otherwise provided pursuant to this paragraph two shall be reduced while the member is in service to 96 per centum of the benefit otherwise payable, and each year thereafter the benefit payable shall be reduced by an amount equal to four per centum per year of the original benefit otherwise payable, but not below 60 per centum of the original benefit otherwise payable.

Upon retirement, the benefit in force shall be reduced by 50 per centum; upon completion of the first year of retirement, the benefit in force at the time of retirement shall be reduced by an additional 25 per centum, and upon commencement of the third year of retirement, the benefit shall be 10 per centum of the benefit in force at age 60, if any, or at the time of retirement if retirement preceded such age; provided, however, the benefit in retirement shall not be reduced below 10 per centum of the benefit in force at age 60, if any, or at the time of retirement if retirement preceded such age.

Part 369 FILING APPLICATION FOR PERFORMANCE OF DUTY DISABILITY RETIREMENT UNDER SECTIONS 63-A, 507-B AND 607-A OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 369.1 Background {#sec-2-crr-ny-369.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 369.1}

Chapter 722 of the Laws of 1996 created a new performance of duty disability retirement which covers members in the uniformed personnel in institutions under the jurisdiction of Department of Correctional Services and Security Hospital Treatment Assistants, as those terms are defined in section 89 of the Retirement and Social Security Law. Chapter 722 added a new section 63-A, a new section 507-b and a new section 607-a to, the Retirement and Social Security Law, which govern the benefit. While sections 63-A, 507-b and 607-a as added by chapter 722, cover the substantive requirements for eligibility for the new performance of duty disability retirement benefit and contains provisions relating the benefit calculation, they do not contain any provisions pertaining to the filing of applications for the performance of duty disability benefit covered therein. Under these sections, the benefit is to be calculated under the liberal formula which covers Tier 1 accidental disability retirement benefits, and the benefit is to be offset under section 64 of the Retirement and Social Security Law by Workers’ Compensation benefits in the same manner as is applicable to accidental disability retirement benefits. Accordingly, in view of the above and other available information regarding the legislative intent, we believe that it is clear that the Legislature intended that the rules governing filing procedures and deadlines to be applied to performance of duty disability retirement under these sections are the liberal accidental disability retirement filing provisions of section 63 of the Retirement and Social Security Law and any regulations applying thereto, including Part 309 of this Title.

2 CRR-NY 369.2 Filing of application for performance of duty disability retirement under sections 63-A, 507-b and 607-a of the Retirement and Social Security Law {#sec-2-crr-ny-369.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 369.2}

To be effective, an application for performance of duty disability retirement under sections 63-A, 507-b and 607-a of the Retirement and Social Security Law shall be filed within two years after the member is first discontinued from service, as provided (with respect to accidental disability retirement) under paragraph 3 of subdivision a of section 63 of the Retirement and Social Security Law. The requirements with respect to filing applications for performance of duty disability retirement shall be as provided (with respect to accidental disability retirement) by section 63 of the Retirement and Social Security Law and the case law and/or regulations pertaining to the filing of accidental disability retirement applications under section 63. Applications must be filed on a form created by the Comptroller for such purpose.

Part 370 SERVICE CREDIT FOR TIER 1 MEMBERS OF THE NEW YORK STATE AND LOCAL RETIREMENT SYSTEMS

2 CRR-NY 370.1 Background {#sec-2-crr-ny-370.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 370.1}

Sections 41 and 341 of the Retirement and Social Security Law empowers the Comptroller to determine the amounts of service credited to Tier 1 members of the New York State and Local Employees’ Retirement System and the New York State Police and Fire Retirement System, respectively, and to adopt reasonable rules and regulations for the crediting of service with respect to such members. While rules which pertain to service crediting of Tier 1 member service have been in place for several decades, they have not previously been published in a regulation. In view of the facts that the Legislature has, since the enactment of the Tier 1 provisions, enacted separate and distinct service crediting rules applicable to Tier 2, 3 and 4 members of the Retirement System, and regulations have been promulgated with respect to those tiers, there is a need to set forth, by regulation, the rules applicable to the crediting of service for Tier 1 members of the Retirement System. This action is being promulgated to publish the applicable rules with respect to the circumstances under which a member shall receive full credit (a year of credit for any 12 consecutive calendar months) and those under which credit for part-time service shall be prorated (less than one year of credit granted for any 12 consecutive calendar months).

2 CRR-NY 370.2 Positions for which full-time credit shall be granted {#sec-2-crr-ny-370.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 370.2}

Full credit shall be granted with respect to positions:

(a) which do not have a specified work day (or a specified number of work days in a month); and

(b) in which the individual is compensated on the basis of an “annual salary” that is set forth by law, regulation, ordinance or resolution; and

(c) where the actual compensation paid and/or payable to such officer or employer is not reduced on account of hours/days not worked.

Example:

An Assistant Town Attorney paid an annual salary of $2,000 regardless or the number of hours/days worked shall receive full credit (regardless of whether the town’s records indicate it is a “part-time” position and regardless of the reported number of days worked in a given month).

2 CRR-NY 370.3 Positions for which service credit will be prorated for less than full-time service {#sec-2-crr-ny-370.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 370.3}

An individual shall receive prorated credit for the following types of service:

(a) Employees paid on an hourly, daily or per meeting employment.

With respect to individuals employed on an hourly or per diem basis, the service shall be credited based on the fraction determined by dividing the number of hours/days worked in a month to the number of hours/days that is considered full-time for the position. An individual who is paid on a per meeting basis shall be considered to be employed on a per diem basis, and a meeting attended by such individual shall be considered a day of work for service crediting purposes.

(b) Positions in which the member is employed to work a percentage of a full-time position.

Service credit shall be based on the percentage of time the individual is employed to work. For example, if an individual is hired to work 50 percent of a full-time position, the individual will receive one-half of a year's credit for paid service on the payroll for an entire year.

Part 372 THE NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM EXCESS BENEFIT PLAN

2 CRR-NY 372.1 Establishment of the New York State and Local Employees' Retirement System excess benefit plan {#sec-2-crr-ny-372.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.1}

Whereas the New York State Legislature has enacted article 15-C of the Retirement and Social Security Law pursuant to chapter 197 of the Laws of 1997 which authorizes the New York State and Local Employees' Retirement System to establish an excess benefit plan, which shall constitute a qualified excess benefit plan pursuant to section 415(m) of the Internal Revenue Code, and whereas subdivision 3 of section 640 of the Retirement and Social Security Law authorizes the Comptroller, as administrative head of the New York State and Local Employees' Retirement System, to promulgate rules and regulations necessary to implement the provisions of article 15-C, including the actual terms conditions of such plan, the New York State and Local Employees' Retirement System excess benefit plan is hereby established, and this Part is promulgated to set forth the actual terms and conditions of such plan.

2 CRR-NY 372.2 Definitions {#sec-2-crr-ny-372.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.2}

As used in this Part, the following terms shall have the definitions provided below, unless a different meaning is clearly required by the context:

(a) Beneficiary means an individual receiving survivor benefits from the system.

(b) Code means the Federal Internal Revenue Code of 1986, as amended.

(c) Employer means the State and participating employers in the system.

(d) Member means a retired individual receiving retirement benefits from the system.

(e) Participant means an employee who is eligible to receive benefits under the plan provided by this Part.

(f) Plan means the plan established by this act for the payment of retirement benefits as permitted under code section 415(m).

(g) Plan year means the limitation year of the system under code section 415.

(h) System means the New York State and Local Employees' Retirement System.

(i) Trustee means the Comptroller of the State of New York.

2 CRR-NY 372.3 Participation {#sec-2-crr-ny-372.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.3}

(a) All retired members and beneficiaries of the system whose retirement or survivor benefits from the system for a plan year have been limited by code section 415 are participants in this plan.

(b) Participation in the plan is determined for each plan year. Participation in the plan will cease for any plan year in which the retirement benefit of a member of the system is not limited by code section 415.

2 CRR-NY 372.4 Benefit amount {#sec-2-crr-ny-372.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.4}

A participant in the plan shall receive a monthly benefit equal to the difference between the participant's monthly retirement benefit otherwise payable from the system prior to any reduction or limitation because of code section 415 and the actual monthly retirement benefit payable from the system as limited by code section 415. The monthly benefit shall be subject to withholding for any applicable income or employment taxes.

2 CRR-NY 372.5 Payment of benefit {#sec-2-crr-ny-372.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.5}

Benefits under the plan shall be paid only if the participant is receiving benefits from the system.

2 CRR-NY 372.6 Form of benefit {#sec-2-crr-ny-372.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.6}

The form of the benefit paid to a participant from the plan shall be the same as otherwise selected by the participant and payable under the system.

2 CRR-NY 372.7 Contributions {#sec-2-crr-ny-372.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.7}

(a) The trustee, upon the recommendation of the actuary, shall determine the required contribution to pay plan benefits for each plan year. The required contribution for each plan year shall be the total amount of benefits payable under sections 372.4, 372.5 and 372.6 of this Part to all participants and their beneficiaries and such amount as determined by the trustee to pay the administrative expenses of the plan and the employer's share of any employment taxes on the benefits paid from the plan.

(b) The required contribution as determined by the trustee, upon the recommendation of the actuary, shall be paid into the plan fund from an allocation of the employer contributions amounts paid pursuant to section 23 of the Retirement and Social Security Law.

2 CRR-NY 372.8 Excess plan fund {#sec-2-crr-ny-372.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.8}

Contributions to the plan shall be deposited in a separate fund established and administered by the system. This fund is intended to be exempt from Federal income tax under code sections 115 and 415(m)(1).

2 CRR-NY 372.9 Funding assets {#sec-2-crr-ny-372.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.9}

The benefit liabilities of the plan shall be funded on a plan year to plan year basis. The fund established under this section shall not be accumulated to pay benefits payable in future years. Any assets of the fund not used for paying benefits for a current plan year shall be used, as determined by the trustee, for the payment of the administrative expenses of the plan for the plan year or for future plan years or paid to the system as an additional employer contribution.

2 CRR-NY 372.10 Non-assignability of benefits {#sec-2-crr-ny-372.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.10}

The benefits payable under the plan may not be assigned or alienated by a participant, except as otherwise permitted for benefits payable by the system.

2 CRR-NY 372.11 Plan administration {#sec-2-crr-ny-372.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.11}

The plan shall be administered by the trustee. The trustee shall have the same authority to administer the plan as exists for the system. The trustee may delegate any or all of the trustee's administrative authority.

2 CRR-NY 372.12 Compliance authority {#sec-2-crr-ny-372.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.12}

The trustee may make modifications as to the benefits payable under the plan as may be necessary to main its qualified status under code section 415(m).

2 CRR-NY 372.13 New York State Constitution {#sec-2-crr-ny-372.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.13}

For the purposes of article 16, section 5 of the New York State Constitution, any payments made pursuant to the excess benefit plan shall be considered part of a pension payable to officers and employees of the State and it's subdivisions and agencies.

2 CRR-NY 372.14 Effective dates {#sec-2-crr-ny-372.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 372.14}

The trustee shall pay benefits under the plan for all plan years beginning on or after April 1, 1995.

Part 373 THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT SYSTEM EXCESS BENEFIT PLAN

2 CRR-NY 373.1 Establishment of the New York State and Local Police and Fire Retirement System excess benefit plan {#sec-2-crr-ny-373.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.1}

Whereas the New York State Legislature has enacted article 15-C of the Retirement and Social Security Law pursuant to chapter 197 of the Laws of 1997, which authorizes the New York State and Local Police and Fire Retirement System to establish an excess benefit plan, which shall constitute a qualified excess benefit plan pursuant to section 415(m) of the Internal Revenue Code, and whereas subdivision 3 of section 640 of the Retirement and Social Security Law authorizes the comptroller, as administrative head of the New York State and Local Police and Fire Retirement System, to promulgate rules and regulations necessary to implement the provisions of article 15-C, including the actual terms conditions of such plan, the New York State and Local Police and Fire Retirement System excess benefit plan is hereby established, and this Part is promulgated to set forth the actual terms and conditions of such plan.

2 CRR-NY 373.2 Definitions {#sec-2-crr-ny-373.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.2}

As used in this Part, the following terms shall have the definitions provided below, unless a different meaning is clearly required by the context:

(a) Beneficiary means an individual receiving survivor benefits from the system.

(b) Code means the Federal Internal Revenue Code of 1986, as amended.

(c) Employer means the State and participating employers in the system.

(d) Member means a retired individual receiving retirement benefits from the system.

(e) Participant means an employee who is eligible to receive benefits under the plan provided by this Part.

(f) Plan means the plan established by this act for the payment of retirement benefits as permitted under code section 415(m).

(g) Plan year means the limitation year of the system under code section 415.

(h) System means the New York State and Local Police and Fire Retirement System.

(i) Trustee means the Comptroller of the State of New York.

2 CRR-NY 373.3 Participation {#sec-2-crr-ny-373.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.3}

(a) All retired members and beneficiaries of the system whose retirement or survivor benefits from the system for a plan year have been limited by code section 415 are participants in this plan.

(b) Participation in the plan is determined for each plan year. Participation in the plan will cease for any plan year in which the retirement benefit of a member of the system is not limited by code section 415.

2 CRR-NY 373.4 Benefit amount {#sec-2-crr-ny-373.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.4}

A participant in the plan shall receive a monthly benefit equal to the difference between the participant's monthly retirement benefit otherwise payable from the system prior to any reduction or limitation because of code section 415 and the actual monthly retirement benefit payable from the system as limited by code section 415. The monthly benefit shall be subject to withholding for any applicable income or employment taxes.

2 CRR-NY 373.5 Payment of benefit {#sec-2-crr-ny-373.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.5}

Benefits under the plan shall be paid only if the participant is receiving benefits from the system.

2 CRR-NY 373.6 Form of benefit {#sec-2-crr-ny-373.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.6}

The form of the benefit paid to a participant from the plan shall be the same as otherwise selected by the participant and payable under the system.

2 CRR-NY 373.7 Contributions {#sec-2-crr-ny-373.7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.7}

(a) The trustee, upon the recommendation of the actuary, shall determine the required contribution to pay plan benefits for each plan year. The required contribution for each plan year shall be the total amount of benefits payable under sections 373.4, 373.5 and 373.6 of this Part to all participants and their beneficiaries and such amount as determined by the trustee to pay the administrative expenses of the plan and the employer's share of any employment taxes on the benefits paid from the plan.

(b) The required contribution as determined by the trustee, upon the recommendation of the actuary, shall be paid into the plan fund from an allocation of the employer contributions amounts paid pursuant to section 323 of the Retirement and Social Security Law.

2 CRR-NY 373.8 Excess plan fund {#sec-2-crr-ny-373.8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.8}

Contributions to the plan shall be deposited in a separate fund established and administered by the system. This fund is intended to be exempt from Federal income tax under code sections 115 and 415(m)(1).

2 CRR-NY 373.9 Funding assets {#sec-2-crr-ny-373.9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.9}

The benefit liabilities of the plan shall be funded on a plan year to plan year basis. The fund established under this section shall not be accumulated to pay benefits payable in future years. Any assets of the fund not used for paying benefits for a current plan year shall be used, as determined by the trustee, for the payment of the administrative expenses of the plan for the plan year or for future plan years or paid to the system as an additional employer contribution.

2 CRR-NY 373.10 Nonassignability of benefits {#sec-2-crr-ny-373.10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.10}

The benefits payable under the plan may not be assigned or alienated by a participant, except as otherwise permitted for benefits payable by the system.

2 CRR-NY 373.11 Plan administration {#sec-2-crr-ny-373.11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.11}

The plan shall be administered by the trustee. The trustee shall have the same authority to administer the plan as exists for the system. The trustee may delegate any or all of the trustee's administrative authority.

2 CRR-NY 373.12 Compliance authority {#sec-2-crr-ny-373.12 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.12}

The trustee may make modifications as to the benefits payable under the plan as may be necessary to main its qualified status under code section 415(m).

2 CRR-NY 373.13 New York State Constitution {#sec-2-crr-ny-373.13 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.13}

For the purposes of article 16, section 5 of the New York State Constitution, any payments made pursuant to the excess benefit plan shall be considered part of a pension payable to officers and employees of the State and it's subdivisions and agencies.

2 CRR-NY 373.14 Effective dates {#sec-2-crr-ny-373.14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 373.14}

The trustee shall pay benefits under the plan for all plan years beginning on or after April 1, 1995.

Part 374 CONTINUATION OF ELECTIVE OFFICE UPON RETIREMENT FROM OTHER PUBLIC SERVICE

2 CRR-NY 374.1 Background {#sec-2-crr-ny-374.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 374.1}

The Retirement and Social Security Law clearly envisions that an employee must separate from the service of the public employment upon which his or her benefit eligibility is based, in order to commence receiving a retirement allowance based on such employment. However, the provisions of such law do not specifically address the situation faced by an individual who desires to retire from a public position, but does not wish to resign from a secondary position of elective office. We believe this situation should be addressed by regulation, in view of the public policy concerns which underlay the special rules applicable to elective office that are provided by section 150 of the Civil Service Law, and the practical effects of such rules. Sections 101, 211, 212, and 401 of the Retirement and Social Security Law provide strict limits on the amount a pensioner may earn in public service without requiring a reduction or suspension of the retirement allowance. Notwithstanding these general rules, section 150 of the Civil Service Law provides a significant exception under which public pensioners may earn unlimited sums from post-retirement elective office, without a resulting suspension or diminution of their retirement allowances. It is clear that the public policy basis for this provision is to encourage - or at least remove an obstacle that may discourage - retirees from running for and holding elective office. The current effect of the general rule requiring separation from all covered public service upon retirement controverts public policy concerns that underlay section 150 of the Civil Service Law. While section 150 of the Civil Service Law exempts individuals who are elected to public office after retirement from the earnings limitations provided in sections 101, 401, 211 and 212, an individual who wishes to retire from a nonelective position while remaining in a secondary elective position must separate from the payroll of both positions in order to commence receiving a retirement allowance. This is true even though that the individual may then return to public payroll within days, without suspension or diminution of the retirement allowance, where the annual compensation for the elective position is within the post-retirement public service earnings limit provided by section 212 of the Retirement and Social Security Law. The clearly unintended effect of this statutory framework is that officers elected to office in a municipality who belong to the party which holds the majority of seats on the municipality's governing body frequently resign from the elective office at retirement, in order to commence drawing a retirement allowance - only to be reappointed by the board to complete the remainder of his or her elective term. By contrast, a member of the minority party may be prevented from retiring from the primary (nonelective) public position, because he or she would not be reappointed to the elective office upon resignation. Clearly, the regulatory structure should not make one's ability to receive a pension based on the nonelective position dependent on whether he or she serves in the majority party with respect to his elective position. Furthermore, the current regulatory framework can create the appearance of impropriety in situations where an elective official resigns from an elective position and becomes reinstated very soon thereafter in order to receive a retirement allowance. This action will solve the above discussed problems, by permitting an individual to receive a retirement allowance that is based primarily on a nonelective position without having to resign from a secondary, elective position. It is structured in a manner that will do so without permitting undue double dipping, in view of the following. The permissive exception established by this regulation will not apply to any individual whose only covered employment is the elective office. Neither will it apply to an individual whose elective position is higher paying than the nonelective position. Accordingly, it will not apply in situations where the elective office is actually the primary position upon which his or her retirement allowance is based. Lastly, the rule established by this regulation will only apply to situations in which the compensation for the elective office does not exceed the applicable section 212 earnings limit. Section 212 establishes the maximum compensation that a public pensioner may earn in public office without a resulting suspension or diminution of his or her retirement allowance. Accordingly, this measure effectively incorporates the existing standard for what should be considered de minimus post-retirement income for the purposes of allowing pensioners to receive their retirement allowances without suspension or diminution.

2 CRR-NY 374.2 Continuation of elective office upon retirement from other public service {#sec-2-crr-ny-374.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 374.2}

An individual who holds elective public office on the effective date of retirement from other employment covered by the New York State and Local Employees' Retirement System or the New York State and Local Police and Fire Retirement System shall not be required to resign from such elective office in order to receive a retirement allowance from either such system, if the following conditions are satisfied:

(a) the annual compensation for the elective office is less than annual compensation of the other position or positions from which the member is retiring. In the event that the individual is retiring from more than one nonelective position, the annual compensation for the elective office must be less than the total of the annual compensation of the other positions; and

(b) the annual compensation for the elective office does not exceed the then applicable limit with respect to allowable post-retirement public compensation provided by section 212 of the Retirement and Social Security Law.

Part 378 PAYMENT OF MEMBER COST FOR PURCHASE OF MILITARY SERVICE PURSUANT TO SECTION 1000 OF THE RETIREMENT AND SOCIAL SECURITY LAW

2 CRR-NY 378.1 Background {#sec-2-crr-ny-378.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 378.1}

Section 1000 of the Retirement and Social Security Law, enacted pursuant to chapter 548 of the Laws of 2000, authorizes a member to purchase up to three years of service credit for military service rendered during certain periods of military conflict defined in that section. In order to obtain the credit, the member must pay to the Retirement System an amount equal to the product of the number of years of military service being claimed and three percent of the compensation earned during the 12 months of credited service immediately preceding the date that the member made application for the credit. Section 1000 permits the member to pay such cost by lump sum or by payroll deduction over a period of time not to exceed the time period of military service to be credited. Subdivision 4 of that section provides that the Comptroller may promulgate a regulation regarding the payment process. In view of the fact that it takes time for the Retirement System to determine the cost and communicate it to the member, this Part is enacted to set forth the time period for the commencement of payment of the member cost for the purchase of military service credit pursuant to section 1000.

2 CRR-NY 378.2 Payment {#sec-2-crr-ny-378.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 378.2}

(a) The Retirement System shall determine the member cost for the purchase of military service credit based upon three percent of the compensation earned by the member during the 12 months of credited service immediately preceding the date that the member filed the application for the credit.

(b) The member shall commence payment of the member cost within 45 days after notification by the Retirement System of the amount due. The Retirement System shall notify the member of the cost by certified mail, return receipt requested, or similar mailing service. The date of the notification letter shall be used to determine the start of the 45-day period for the commencement of payment.

(c) If the member has not commenced payment within such specified time period, the application for service credit for military service shall be void.

(d) In the event the member commences payment after such specified time period, the payment shall be deemed to be the filing of a new application and the Retirement System shall determine a new cost based upon three percent of the compensation earned by the member during 12 months of credited service immediately preceding the date of payment. The Retirement System shall advise the member of the new cost and the amount, if any, owed by the member or to be refunded by the Retirement System after consideration of the amount previously paid.

(e) Notwithstanding any provision of this plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with section 414(u) of the Internal Revenue Code of 1986, as amended. Effective for deaths occurring on or after January 1, 2007, if a member dies while performing qualified military service as defined in Internal Revenue Code section 414(u), the survivors of the member shall be entitled to any additional benefits as determined under Internal Revenue Code section 401(a)(37) provided under the retirement system had the member resumed his or her prior employment with an employer that maintains the system and then terminated employment on account of death, and service for vesting purposes shall be credited to such deceased member for the period of his or her qualified military service. For the purpose of this section, additional benefits shall not include benefit accruals relating to the period of qualified military service.

Part 379 COMPLIANCE WITH INTERNAL REVENUE CODE SECTIONS 401(A) AND 415(B) PROVISIONS

2 CRR-NY 379.1 Background {#sec-2-crr-ny-379.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 379.1}

The New York State and Local Retirement System's qualified plan status pursuant to the Internal Revenue Code affords certain deferred tax benefits on contributions and investment gains and refunds of tax withholdings on the plans' international investments. In order to protect its qualified plan status and ensure continued tax-favorable benefits the New York State and Local Retirement System is required to adopt changes and update plan documents according to the changes periodically made to the Internal Revenue Code that apply to governmental retirement plans. This Part is being promulgated to comply with the Internal Revenue Code and ensure maintenance of the plans' qualified status.

2 CRR-NY 379.2 Required minimum distribution {#sec-2-crr-ny-379.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 379.2}

Notwithstanding any other provision of law to the contrary, the Retirement System shall comply with Internal Revenue Code section 401(a)(9), including the minimum distribution incidental benefits rule of Internal Revenue Code section 401(a)(9)(G), pursuant to a reasonable and good faith interpretation of Internal Revenue Code section 401(a)(9) in accordance with Treasury Regulation section 1.401(a)(9)-1.

2 CRR-NY 379.3 Internal Revenue Code 415 and cost-of-living adjustments {#sec-2-crr-ny-379.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 379.3}

(a) The defined benefit payable to a member of the Retirement System shall not exceed the applicable limits under Internal Revenue Code section 415(b), as periodically adjusted by the Secretary of the Treasury pursuant to Internal Revenue Code section 415(d). The limitation year is the fiscal year. This limit shall apply to a member who has had a severance from employment or, if earlier, an annuity starting date. Benefits that are subject to Internal Revenue Code section 415(b) shall comply with the foregoing limit in each year during which payments are made. The foregoing limit shall be adjusted pursuant to the requirements of code sections 415(b)(2)(C) and (D) relating to the commencement of benefits at a date prior to age 62 or after age 65, subject to other applicable rules under Internal Revenue Code section 415. No adjustment shall be required to a benefit subject to an automatic benefit increase feature described in Treasury Regulation section 1.415(b)-1(c)(5). To the extent that Internal Revenue Code section 415 and the Treasury Regulations thereunder require that an interest rate under Internal Revenue Code section 417(e) apply, the applicable lookback month shall be the calendar month preceding the current month and the applicable stability period is one calendar month.

(b) If a member is, or has ever been, a participant in another qualified defined benefit plan (without regard to whether the plan has been terminated) maintained by the member's employer, as determined pursuant to Internal Revenue Code sections 414(b), 415(c), and 415, the sum of the participant's benefits payable annually in the form of a straight life annuity from all such plans may not exceed the limit described in subdivision (a) of this section. Where the member's employer-provided benefits under all such defined benefit plans (determined as of the same age) would exceed the limit described in subdivision (a) of this section applicable at that age, the benefits accrued under all such other plans shall be reduced first in order to avoid exceeding the limit and only to the extent that the reduction under such other plans is insufficient to avoid exceeding the limit.

2 CRR-NY 379.4 Use of forfeitures {#sec-2-crr-ny-379.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 379.4}

Forfeitures arising under the Retirement System for any reason may not be applied to increase the benefits of any members at any time prior to the termination of the Retirement System within the meaning of Internal Revenue Code section 401(a)(8) or any successor thereto. In the event of the termination of the Retirement System or a complete or permanent discontinuance of contributions thereunder, any individual who is a member at such time shall be 100 percent vested in his or her accrued benefits under the Retirement System to the extent required by Internal Revenue Code section 401(a)(7) as in effect on September 1, 1974.

2 CRR-NY 379.5 Exclusive benefit {#sec-2-crr-ny-379.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 379.5}

Notwithstanding any other provision of law, no funds of the Retirement System shall be expended for any purpose other than the expense of administration of the Retirement System, investments for the benefit of the Retirement System, and the provision of benefits to the members and retired members of the Retirement System and their survivors and beneficiaries; provided, however, that reversions will be permitted to the extent allowed under the Internal Revenue Code and any related guidance thereunder, including, but not limited, to, a mistake of fact as permitted under applicable Internal Revenue Service guidance.

Part 380 ELECTRONIC SIGNATURES AND FILING OF DOCUMENTS

2 CRR-NY 380.1 Background {#sec-2-crr-ny-380.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 380.1}

(a) Article 3 of the State Technology Law, known as the Electronic Signatures and Records Act (ESRA), is intended to support and encourage electronic commerce and electronic government by allowing people to use electronic signatures and electronic records in lieu of handwritten signatures and paper documents. Administration of the State Technology Law is vested in the New York State Office of the Chief Information Officer and the New York State Office of Information Technology Services (CIO/ITS). CIO/ITS has promulgated regulations (9 NYCRR Subtitle N, Part 540) to establish rules governing the use of electronic signatures and records. CIO/ITS also issues policies, standards, and guidelines for technology usage.

(b) Section 807 of the Retirement and Social Security Law, enacted pursuant to chapter 506 of the Laws of 2005, authorizes public retirement systems to promulgate rules and regulations to provide for alternate means of authentication in place of any requirement that a filing be duly executed and acknowledged and, consistent with the provisions of the State Technology Law, to provide for the electronic filing of documents. The State Comptroller as the administrative head of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System ("the retirement system") has the exclusive authority pursuant to sections 11, 74, 311, 374, 519 and 614 of the Retirement and Social Security Law to adopt rules and regulations for the administration of the retirement system.

(c) This Part is promulgated to set forth the procedures for the use of electronic signatures and records by the retirement system.

2 CRR-NY 380.2 Statement of intent {#sec-2-crr-ny-380.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 380.2}

(a) ESRA and this Part are designed to, among other things, afford the retirement system the greatest latitude to determine the most effective protocols for producing, receiving, accepting, acquiring, recording, filing, transmitting, forwarding and storing electronic signatures and electronic records within the confines of existing statutory and regulatory requirements regarding privacy, confidentiality and records retention.

(b) New technologies are frequently being introduced. The intent of this Part is to be flexible enough to embrace future technologies that comply with ESRA and all other applicable statutes and regulations.

2 CRR-NY 380.3 Electronic signatures and filing of documents {#sec-2-crr-ny-380.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 380.3}

(a) Meaning of terms.

Unless specifically stated otherwise, the meaning of terms and words in this Part shall be the same as in the State Technology Law and the regulations of CIO/ITS.

(1) The retirement system means the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System.

(2) An electronic signature or digital signature means the creation of an electronic identifier (i.e., an electronic sound, symbol, or process, attached to or logically associated with an electronic record and executed or adopted by a person with the intent to sign the record) which the Comptroller determines is:

(i) unique to the signer;

(ii) capable of verification;

(iii) under the signer's control; and

(iv) linked to the record in such a manner that if the record is changed, the signature is invalidated.

(b) Authorization.

The retirement system may provide for the electronic filing of forms and documents through NYSLRS Retirement Online and/or through the statewide network infrastructure (NYeNet).

(c) Coordination.

Administration of NYSLRS Retirement Online and use of NYeNet shall be coordinated by the retirement system through the Chief Information Officer of the Office of the State Comptroller.

(d) State Technology Law.

The retirement system shall conform to the Internet Security and Privacy Act, the Electronic Signatures and Records Act, and the regulations and other requirements of CIO/ITS.

(e) Retirement system electronic signatures.

The signature of those persons executing, and/or authenticating, any decision or determination or other document by or on behalf of the Comptroller, may do so digitally for documents prepared in an electronic format.

(f) Use of electronic signatures.

Unless specifically provided otherwise by law, an electronic signature may be used in lieu of a signature affixed by hand. The use of an electronic signature shall have the same validity and effect as the use of a signature affixed by hand. A verified electronic signature shall also be deemed to be acknowledged, when required by law.

(g) Electronic payments.

Electronic payments made through NYSLRS Retirement Online Member Self-Service will be deemed received on the date payment is submitted through NYSLRS Retirement Online Member Self-Service provided the payment has not been canceled. Notwithstanding this provision, no electronic payment shall be deemed received on the date the payment was submitted through NYSLRS Retirement Online Member Self-Service unless the payment can be debited within five business days. If payment cannot be debited within five business days, the payment will be rejected and will not be deemed received by the Retirement System.

(h) Disclosure of records.

Electronic records shall be considered and treated as any other records for the purposes of disclosure of those records as set forth in article 6-A of the Public Officers Law.

(i) Freedom of Information Law.

Electronic records shall be considered and treated as any other records for the purposes of the Freedom of Information Law as set forth in article 6 of the Public Officers Law.

(j) Use of electronic records.

An electronic record shall have the same force and effect as those records not produced by electronic means.

(k) Admissibility into evidence.

Electronic records, electronically stored and reproduced copies of records, and electronic signatures, shall be admissible into evidence in retirement system administrative proceedings under the same rules as those records and signatures not produced or stored and reproduced, by electronic means.

(l) Use of electronic records and signatures to be voluntary.

Nothing in this Part shall require any entity or person to use an electronic record or an electronic signature unless otherwise provided by law.

Part 381 ARTICLE 22—MEMBERSHIP CONTRIBUTIONS AND WITHDRAWALS

2 CRR-NY 381.1 Background and determination {#sec-2-crr-ny-381.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 381.1}

Section 1204 of the Retirement and Social Security Law, as added by section 1 of chapter 504 of the Laws of 2009, directs and authorizes the State Comptroller to promulgate regulations necessary with respect to deductions of contributions from the wages of members who are covered by the provisions of article 22 of the law, and maintenance of any special fund(s) with respect to amounts contributed. This Part is being promulgated to set forth by regulation the provisions of article 22 with respect to members of the New York State and Local Police and Fire Retirement System.

2 CRR-NY 381.2 Member contributions {#sec-2-crr-ny-381.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 381.2}

(a) Members of the New York State and Local Police and Fire Retirement System who are covered by the provisions of article 22 of the Retirement and Social Security Law shall contribute a percentage of their annual wages to the retirement system as set forth in section 1204. Such contributions shall not be required after accruing the maximum service credit allowed under the plan in which they are enrolled.

(b) Contributions made pursuant to article 22 of the Retirement and Social Security Law shall be considered CO-ESC contributions, as defined by Part 326 of this Title. In no event shall these contributions provide for a pension increase or annuity.

2 CRR-NY 381.3 Withdrawal and refund of CO-ESC contributions {#sec-2-crr-ny-381.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 381.3}

In the event of termination of employment other than as a result of transfer to another public employer, a member participating in the retirement plan provided for in article 22 of the Retirement and Social Security Law, who is not vested or entitled to any other benefit under article 22, may withdraw his CO-ESC contributions and terminate his membership in the New York State and Local Police and Fire Retirement System by filing a form prescribed by the retirement system for this purpose. Such a request may be made after the member has been separated from service for at least 15 days. The retirement system shall thereupon refund the CO-ESC contributions.

2 CRR-NY 381.4 Refund of member's contributions on death of the member {#sec-2-crr-ny-381.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 381.4}

In the event of termination of membership with New York State and Local Police and Fire Retirement System by the death of a member participating in the retirement plan provided for in article 22 of the Retirement and Social Security Law, where no application for death benefits has been approved by the Comptroller on account of such member's death and where there are no individuals eligible to receive death benefits on account of such member's death under the provisions of article 22 of the Retirement and Social Security Law and the regulations promulgated thereunder, accumulated contributions shall be refunded to the beneficiary duly designated by the member on a form prescribed by and filed with the retirement system for this purpose. In the absence of such designation of beneficiary, any accumulated contributions made by the deceased member shall be refunded to his estate. Such duly designated beneficiary or, in the absence thereof, the estate's legal representative, must file a written request for such a refund with the retirement system on a form prescribed by the retirement system for this purpose. The retirement system shall thereupon refund the accumulated contributions.

2 CRR-NY 381.5 Interest on refunded accumulated contributions {#sec-2-crr-ny-381.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 381.5}

The accumulated contributions withdrawn as provided for by sections 381.3 and 381.4 of this Part shall be refunded with interest at the rate of five percent per annum.

2 CRR-NY 381.6 Restoration of credit for previous service {#sec-2-crr-ny-381.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 381.6}

Membership in the New York State and Local Police and Fire Retirement System shall cease upon withdrawal of contributions pursuant to these regulations. A former member who thereafter returns to public service shall not receive any credit for previous service to which such withdrawn and refunded contributions applied unless and until such former member applies for such credit and repays the entire amount withdrawn and refunded, together with interest through the date of repayment at the rate of five percent per annum.

Part 382 PRE-EMPLOYMENT PHYSICALS FOR PRESUMPTION PROVISIONS

2 CRR-NY 382.1 Background {#sec-2-crr-ny-382.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 382.1}

The Retirement and Social Security Law contains various provisions designed to assist a member or beneficiary in obtaining disability retirement or death benefits by creating rebuttable presumptions that an injury, illness or disease was incurred in the performance and discharge of duties and, in some instances, as the natural and proximate result of an accident not caused by the member’s own willful negligence. Once brought into play, these presumptions are rebuttable by competent evidence. Many of the presumption provisions require that the member must have successfully passed a physical examination upon entry into employment that failed to disclose evidence of the injury, illness or disease. The requirement, which must be satisfied in order to raise the presumption, is intended to disqualify those individuals who clearly sustained the injury or contracted the illness or disease prior to obtaining the employment upon which membership is based. However, from time to time, the member and/or employer are unable to provide evidence of a successful pre-employment physical despite a diligent search for records and acknowledgement that an examination took place. With the passage of time, records of examinations may be purged under Records Retention schedules or simply lost or destroyed. In one particularly poignant example, shortly after the enactment of chapters 93 and 104 of the Laws of 2005, which created the disability presumption for the participants in rescue, recovery and clean-up operations following the World Trade Center disaster, the Retirement System was confronted with a situation wherein the medical records of the Port Authority of New York – New Jersey were destroyed in the towers collapse. To avoid the untenable outcome of denying the presumption to Port Authority Police Officers, the Retirement System accepted a written statement from the Port Authority’s Chief Medical Officer detailing the examinations, including medical, given during the police officer selection process with his assurance that only those who successfully complete all requirements are considered for appointment as a Port Authority Police Officer. A further complicating factor for the World Trade Center presumption was the realization that not every otherwise eligible member was required to undergo a pre-employment physical at the time of employment. It simply is not a requirement of many public positions. As a result, the World Trade Center presumption was amended in 2008 to provide that an authorized release of all relevant medical records could substitute when the member had not had an examination. Although helpful to some, the amendment did not address those who had undergone examinations for which the records were subsequently lost or destroyed. It seems highly unlikely that the Legislature, in providing presumptions to assist members in obtaining disability benefits, intended to bar those whose examination records were no longer available through no fault of their own. This part is promulgated to address this issue.

2 CRR-NY 382.2 Employer statement {#sec-2-crr-ny-382.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 382.2}

Effective immediately, in the processing of a disability retirement or death benefit presumption requiring successful passage of a pre-employment physical, when it is determined that the records of such physical no longer exist through no fault of the member, the Retirement System shall accept, in lieu of such records, a sworn statement from an authorized representative of the employer indicating, to the extent known, the reason the records no longer exist, that such member would have been required to undergo a physical examination at or shortly after hire, and that the member would not have been so hired without successfully passing the examination.

Part 383 ADDITION OR SUSPENSION OF CERTAIN ADMINISTRATIVE AND OPERATIONAL REQUIREMENTS DURING THE COVID-19 STATE OF EMERGENCY

2 CRR-NY 383.1 Addition or suspension of certain administrative and operational requirements during the COVID-19 state of emergency {#sec-2-crr-ny-383.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 383.1}

On March 7, 2020 the Governor of New York State declared a state of emergency due to the COVID-19 virus. An immediate adoption of this rule is necessary for the preservation of the general welfare of the members, retirees and beneficiaries of NYSLRS. Effective immediately and notwithstanding any other law, rule or regulation to the contrary, the Comptroller may authorize the suspension of certain administrative and operational requirements related to the retirement system including, but not limited to, the processing and determination of applications for any form of retirement or benefit, participating employer reporting and the conduct and scheduling of administrative hearings. Such change in administrative and operational requirements will be effective for 90 days from the date of filing of this rule unless such emergency rule is readopted or rescinded prior to the expiration of such 90 day period.

Chapter VII NEW YORK ENVIRONMENTAL PROTECTION AND SPILL COMPENSATION FUND

Part 400 LICENSE FEE SETTING

2 CRR-NY 400.1 Notification by the administrator {#sec-2-crr-ny-400.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 400.1}

The administrator shall notify the Commissioner of Transportation in writing whenever the fee is to be discontinued, reimposed, raised or lowered. The commissioner shall then notify all licensees of the change.

2 CRR-NY 400.2 Fund balance {#sec-2-crr-ny-400.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 400.2}

In considering the fund balance for the purpose of setting license fees, only those amounts not appropriated for administrative expenses and research costs or otherwise committed are to be considered by the administrator.

Part 401 NOTIFICATION OF SPILLS AND CLEANUP ESTIMATES

2 CRR-NY 401.1 Notification by the Department of Transportation {#sec-2-crr-ny-401.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 401.1}

The Department of Transportation shall notify the administrator within 24 hours after the inception of cleanup and removal operations in response to a discharge of petroleum. An estimate shall be provided to the administrator concerning the cost of the operation necessitating such notification.

Part 402 CLAIMS AGAINST THE FUND FOR DAMAGES

2 CRR-NY 402.1 Definitions {#sec-2-crr-ny-402.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 402.1}

(a) Personal property shall mean tangible property of all types other than real property, and shall include any right, title or interest in or to such tangible property.

(b) Real estate shall mean real property or any right, title or interest in or to real property, and shall include easements of all types.

2 CRR-NY 402.2 Delegation {#sec-2-crr-ny-402.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 402.2}

The administrator may delegate administrative, supervisory or investigatory authority to members of his staff and enter into contracts where appropriate for carrying out the requirements of article 12 of the Navigation Law, including but not limited to, the performance of claims adjustment services.

2 CRR-NY 402.3 Submission of claims {#sec-2-crr-ny-402.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 402.3}

(a) Any person claiming to have suffered damage to real estate or personal property, natural resources or loss of income or tax revenue, as the result of a discharge of petroleum which takes place on or after April 1, 1978, may submit a claim for any such damage to the administrator.

(b) Claims shall be submitted in such form and contain such information as the administrator may prescribe from time to time. Claim forms shall be provided by the administrator to all persons upon request.

(1) Claims shall be sent by certified mail or hand-delivered to:

New York State Department of Audit and Control

Administrator

New York State Environmental Protection and

Spill Compensation Fund

110 State Street

Albany, New York 12236-0001

(2) The date postmarked or, if hand-delivered, the date of receipt stamp, shall be the date used for establishing compliance with the time limits imposed by section 182 of the Navigation Law.

(c) The claimant may submit information and materials, including the reports of experts, photographs and other demonstrative evidence, in addition to the information and materials required or suggested by the administrator's claim form. The administrator or a board of arbitration may require additional information and material from a claimant at any time prior to payment of a claim to aid it in determining the identity of the discharger, the cause of the discharge, the validity of the damage claim or the amount of the damage. The administrator and the board of arbitration may refuse to process a claim if the claimant refuses to supply the administrator or the board with such information or materials in the claimant's possession or subject to the claimant's control as the administrator or the board finds necessary to process the claim.

(d) all damages shall be stated in their entirety in a single claim application. However, prior to any award of damages from the fund for any claim, or the reimbursement to the fund from the discharger or the responsible party, or the agreement to a settlement by a claimant and discharger or other responsible party, whichever occurs first, such claim may be amended by the claimant as to the nature or extent of the damage, the cause of the damage or the amount of the claim.

2 CRR-NY 402.4 Waiver of claims not presented {#sec-2-crr-ny-402.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 402.4}

Damages not included in a claim at the time a settlement is reached, or an award of damages from the fund is made, shall be deemed waived; provided, however, that claims for damages which could not have been discovered before an award has been made or a settlement has been concluded may be the subject of an additional claim if submitted within the time limitation set forth in section 182 of the Navigation Law.

2 CRR-NY 402.5 Initial processing of a claim for damages {#sec-2-crr-ny-402.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 402.5}

(a) Where a claim for damages involves a known discharger or alleged discharger, the rules on notice to the person alleged to have caused the discharge are as follows:

(1) Upon receipt of a claim, the administrator shall notify the person alleged by the claimant to have caused the discharge, by mailing a notice of claim, a copy of the claim and, where appropriate, a copy of any supporting documents or materials, by registered or certified mail, return receipt requested.

(2) If the administrator has reason to believe that someone other than the person alleged by the claimant caused the discharge, the administrator shall mail a notice of claim, a copy of the claim and, where appropriate, a copy of any supporting documents or materials, by registered or certified mail, return receipt requested, to such person.

(3) Notice pursuant to this section shall be in such form as the administrator may prescribe from time to time, and shall inform the person alleged to have caused the discharge that he may, within 15 business days of having received notice of the claim, file an answer, including supporting documents if any, with the administrator: admitting the discharge, denying the discharge or taking no position with respect to the cause of the discharge and agreeing with the amount of the claim, disagreeing with the amount of the claim or taking no position regarding the amount of the claim.

(4) Not less than seven days after the receipt of an answer or, if no answer is filed, not less than seven days after the expiration of the time for answering, the administrator shall make a determination, if possible, based upon the information set forth in the claim, the answer and other information which may be submitted to the administrator, of the identity of the person who discharged the petroleum. The administrator shall immediately notify the claimant, the alleged discharger and any other affected parties of his determination.

(b) Where a claimant has not set forth the name of a person alleged to have caused the discharge and the administrator cannot determine the source of the discharge, the administrator shall attempt to arrange a settlement of the claim against the fund. The administrator may enter into a settlement with the claimant in accordance with the applicable provisions of section 402.6 of this Part concerning the settlement of claims before the fund.

(1) If the administrator arranges a settlement of the claim, the administrator shall certify the amount of the claim and the name of the claimant to the State Comptroller, and the State Comptroller shall pay the same from the fund.

(2) If the administrator does not arrange a settlement of the claim, the administrator shall convene a board of arbitration pursuant to section 185 of the Navigation Law.

2 CRR-NY 402.6 Settlements of claims {#sec-2-crr-ny-402.6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 402.6}

(a) If the identity of a discharger has been determined pursuant to paragraph 402.5(a)(4) of this Part, or liability is conceded by an alleged discharger, the administrator shall attempt to promote and arrange a settlement between the claimant and the person responsible for the discharge.

(1) Failure to participate in the settlement negotiations, without good cause, by the claimant shall result in the denial of the claim. Failure to participate in the settlement negotiations by the person having been determined responsible for the discharge or the person conceding liability shall authorize the administrator to enter into a settlement agreement with the claimant which shall be binding on the responsible party.

(2) Where the claimant and known or alleged discharger, if any, agree to the amount of the claim and responsibility for the damage, the known or alleged discharger shall pay the agreed amount to the claimant and such payment shall not be deemed an admission of liability for purposes of any other claim or in any other proceeding.

(3) If a settlement cannot be achieved pursuant to this section, and a claimant directly presents a claim to the fund for payment of damages, the administrator may convene a board of arbitration to determine the validity or amount of the claim, and the administrator shall convene a board to make such a determination if the alleged discharger or other person contests in writing the validity or amount of said claim.

(b) When a claimant directly presents a claim to the fund for payment subsequent to the conclusion of unsuccessful settlement negotiations, the administrator shall provide written notice by certified mail, return receipt requested, of said claim to any discharger or alleged discharger or other alleged responsible party.

(1) Any challenge by the discharger or alleged discharger or other person of the validity or amount of the claim must be filed in writing with the administrator, within 20 days of the providing of such notice, stating the particular items being challenged and the basis for the challenge.

(2) No payment from the fund may be made to a claimant until at least 21 days after said notice has been provided; and if the administrator determines to convene a board or is required to convene a board pursuant to section 185 of the Navigation Law, no payment may be made except in accordance with the determination of said board and the requirements of section 185 of the Navigation Law.

(3) If the administrator agrees to the amount of the claim and no challenge of the validity or amount of the claim has been filed with the administrator by the end of the 20 days, the administrator shall certify the amount of the claim and the name of the claimant to the State Comptroller, and the State Comptroller shall pay the same from the fund.

(c) Claimants shall produce all financial and other records required by the administrator. Failure to produce requested records can, at the administrator's discretion, result in the dismissal of a claim. In the absence of records or other proof of the extent of loss, appraisals made by the administrator shall determine the extent of the loss.

(d) Claims seeking the restoration, repair or replacement of any real estate or personal property shall be supported by the submittal of at least two estimates from established and recognized appraisers, suppliers or repair services.

Part 403 BOARDS OF ARBITRATION

2 CRR-NY 403.1 Challenge of cleanup and removal costs {#sec-2-crr-ny-403.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 403.1}

A person challenging claims for cleanup and removal costs presented to the fund for payment must file a written notice with the administrator no later than seven calendar days after such claim for payment is received by the administrator. Such notice shall state the particular items being challenged and the basis for the challenge.

2 CRR-NY 403.2 Challenge of a damage claim {#sec-2-crr-ny-403.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 403.2}

(a) Where identity of a discharger has been determined pursuant to paragraph (a)(4) of section 402.5 of this Chapter, or liability is conceded by an alleged discharger, any challenge by persons of the validity or amount of such a damage claim must be filed in writing with the administrator, stating the particular points being challenged and the basis for the challenge, prior to the reaching of a settlement between the known or alleged discharger and the claimant or, if settlement negotiations are unsuccessful, by the end of the 20-day period set forth in subdivision 402.6(b) of this Chapter.

(b) Where a claimant has not set forth the name of a person alleged to have caused the discharge, and the administrator cannot determine the source of the discharge, any challenge by persons of the validity or amount of such a damage claim must be filed in writing with the administrator, stating the particular points being challenged and the basis for the challenge, prior to the reaching of a settlement between the claimant and the administrator.

2 CRR-NY 403.3 Designation of arbitrators by principals {#sec-2-crr-ny-403.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 403.3}

Principals may redesignate arbitrators which have been designated pursuant to section 185(2)(a) of the Navigation Law at any time prior to the convening of a specific board of arbitration by filing written notice upon the administrator.

Part 404 DISBURSEMENTS FROM THE FUND

2 CRR-NY 404.1 Certification of vouchers for cleanup and removal {#sec-2-crr-ny-404.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 404.1}

The commissioners of the Department of Transportation and the Department of Environmental Conservation, or their designated representatives, shall both sign the certification form for vouchers submitted for the costs associated with the activities of cleanup and removal. The vouchers shall be submitted to the administrator together with a schedule of time and materials used in the cleanup and removal operations.

2 CRR-NY 404.2 Approval of research contracts or actions {#sec-2-crr-ny-404.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 404.2}

Any contracts or actions by State personnel related to research, as provided for by subdivisions 2(b) and 2(d) of section 186 of the Navigation Law, shall first be approved by the administrator.

2 CRR-NY 404.3 Precedence of cleanup and removal claims {#sec-2-crr-ny-404.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 404.3}

Payment of the full cost of cleanup and removal shall take precedence over the payment of damage claims relating to a specific discharge.

2 CRR-NY 404.4 Payment of damages {#sec-2-crr-ny-404.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 404.4}

The payment of damages shall be made by the State Comptroller based upon a schedule stating the payee's name, address and amount, signed by the administrator.

Chapter VIII NEW YORK STATE SOCIAL SECURITY AGENCY

Part 500 DEPOSIT OF EMPLOYER/EMPLOYEE CONTRIBUTIONS WITH THE NEW YORK STATE SOCIAL SECURITY AGENCY

2 CRR-NY 500.1 Background {#sec-2-crr-ny-500.1 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 500.1}

Section 144 of the Retirement and Social Security Law empowers the Director of the New York State Social Security Agency to prescribe such regulations as may be required for the effective administration of the provisions of article 3 of the Retirement and Social Security Law. Both the State and its political subdivisions must deposit with the agency contributions with respect to wages of its employees so covered. Section 138 of the Retirement and Social Security Law directs that the deposit be made at such time or times as the director of the agency may prescribe in his regulations. Section 140 of the Retirement and Social Security Law provides for recovery of those amounts due from political subdivisions, which are unpaid after the due date for their payment, with interest computed at the rate established by the Federal Social Security Act (section 418 of title 42 of the United States Code). This Part is promulgated to establish a procedure for the deposit of contributions by the State and its political subdivisions with the agency.

2 CRR-NY 500.2 Date of deposit {#sec-2-crr-ny-500.2 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 500.2}

Contributions by the State and its political subdivisions will be considered to be deposited on the date that such contribution is received by the agency in Albany, New York.

2 CRR-NY 500.3 Due date of deposit {#sec-2-crr-ny-500.3 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 500.3}

Effective for those payrolls paid on or subsequent to January 1, 1984, the due date of deposit shall be:

(a) for a payroll which had been paid at any time between the 1st and 15th day of a month, inclusive, the 21st day of that month; or

(b) for a payroll which has been paid at any time between the 16th and last calendar day of a month, inclusive, the 6th day of the subsequent month.

A due date of payment which falls on a Saturday, Sunday, or a legal holiday observed by the State of New York will be extended to the next business day. A contribution received subsequent to the due date of deposit is a delinquent payment.

2 CRR-NY 500.4 Interest assessments on delinquent payments {#sec-2-crr-ny-500.4 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 500.4}

Interest will be assessed on delinquent payments, to be computed as established, and at the rate in force at the time of said delinquency, by the Federal Social Security Act (42 U.S.C.A. section 301 et. seq.). Such rate shall be applied on a per diem basis based on the number of days from the final due date established for such payment by the Federal Social Security Act through and inclusive of the date such payment is credited to the account of the Secretary of the Treasury of the United States.

2 CRR-NY 500.5 Effective date {#sec-2-crr-ny-500.5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY 500.5}

This Part shall be effective commencing with the first payroll period of the State and each political subdivision which is paid on or subsequent to January 1, 1984.

2 CRR-NY App. 5 Appendix 5 {#sec-2-crr-ny-app.-5 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 5}

Form A. C. 970 (1964 Rev.)

Cities over 125,000 Population

DEBT STATEMENT

OF

Name of Municipality

_________COUNTY, NEW YORK

PREPARED AS OF

_____, 19

Form A. C. 970-1

Cities over 125,000 population

STATE OF NEW YORK

DEPARTMENT OF AUDIT AND CONTROL

DIVISION OF MUNICIPAL AFFAIRS

This is the official debt statement form prescribed for use by cities having a population of more than 125,000 inhabitants according to the 1960 federal census.

ARTHUR LEVITT

State Comptroller

INSTRUCTIONS

1. Statutory Reference. At each item of indebtedness to be included and excluded in the debt statement will be found a statutory reference. For example, "135.00(a, 1)" means "subdivision 1 of paragraph a of section 135.00 of the Local Finance Law". Reference to that section in the Local Finance Law will show the statutory meaning of the word "Borrowings". Wherever a reference appears, that section of the Local Finance Law should be consulted.

2. Date of Preparation. The statement must be prepared as of a date not more than thirty days previous to the date of sale of bonds, except that in the case of New York City, such statement must be prepared as of a date not more than sixty days previous to the date of sale of bonds, Local Finance Law, section 109.00.

3. Filing. A debt statement must be filed not more than fifteen days nor less than three days before a municipality sells any bonds which are required to be sold at public sale. The statement must be filed with the State Comptroller and a duplicate copy must be filed with the clerk or corresponding officer of the municipality. In the case of New York City, a copy must also be filed in the same respective periods of time in the office of the chief fiscal officer. Local Finance Law, section 109.00.

4. Fees for Copies. Should it be necessary to obtain either a copy, certified copy, or exemplified copy of a debt statement filed with the State Comptroller, see paragraph c of section 141.00 of the Local Finance Law, as added by Chapter 437 of the Laws of 1947, for fee schedule. The statute requires such fees to be prepaid.

5. Average Full Valuation. In computing "Average Full Valuation" at page 4, use last completed assessment roll and four preceding rolls. The law defines a completed assessment roll as one which has been "completed, verified and filed by the assessors." The words "For Fiscal Year Ending" refer to the year for which taxes have been or will be extended on the assessment roll rather than the year in which the roll was completed. The amounts to be used in Column 1 would be the amounts shown on such rolls as filed after the hearing of grievances, regardless of subsequent changes. In Column 1, include the assessed valuations of special franchises and pension exempt properties but exclude the assessed valuations of all other exempt properties to the extent they are exempt from general taxation. Full valuation (Column 3) is determined as follows: Divide the assessed valuation (Column 1) by the equalization rate (Column 2) established by the State for such valuation. Where boundary changes have occurred and in the case of newly-created municipalities, see section 2.00(7-a) of the Local Finance Law.

6. INCLUSIONS:

Re Item 9, Page 4. Include the respective amounts of all several indebtedness and allocated or apportioned joint indebtedness contracted or incurred pursuant to Article II, Title 1-A of the Local Finance Law in relation to a joint service or a joint water, sewage or drainage project. The amount of joint indebtedness to be so included should not exceed the amount of such indebtedness allocated and apportioned to the municipality in the bond or note resolution authorizing such indebtedness to be contracted.

Joint indebtedness to be included arising out of real property liabilities and contract liabilities should not exceed the amount of such indebtedness required to be allocated and apportioned to the municipality in the agreement of the participating municipalities in relation to such joint service or project. Where the agreement does not provide for any such allocation or apportionment, or in the case of involuntary joint indebtedness, the amount to be allocated and apportioned and included in the debt statement of a participating municipality should be in the same proportion as the full valuation of the real estate subject to taxation or assessment by such municipality for such joint service or project bears to the full valuation of the real estate subject to taxation or assessment by all of the participating municipalities for such joint service or project. See Local Finance Law,

(Page 1)

Form A. C. 970-2

section 15.10. However, if the State Comptroller has issued a certificate allocating and apportioning such joint indebtedness pursuant to the provisions of section 15.10 of the Local Finance Law, the amounts so allocated and apportioned by the State Comptroller should be included in the debt statements of each respective municipality as indebtedness.

7. EXCLUSIONS:

(a) Item 1, Page 5. Do not include bonds, bond anticipation notes, capital notes, budget notes or obligations which have been issued for the direct financing of improvements or equipment. Do not include any tax or revenue obligations, or renewals thereof, which have not been retired within five years after the date such original obligations were issued.

(b) Item 2, Page 5. Include only obligations issued for objects or purposes other than the financing of capital improvements and contracted to be redeemed in one of the two fiscal years immediately succeeding the year of ther issue. Do not include serial bonds of an issue having a maximum maturity of more than two years.

(c) Item 3, Page 5. Do not include joint or several indebtedness contracted pursuant to Article II Title 1-A of the Local Finance Law to finance a joint water project. Such indebtedness is to be included in Item 14, page 5.

(d) Item 4, Page 5. Do not include any indebtedness contracted pursuant to Article II, Title 1-A of the Local Finance Law in relation to a joint service or a joint water, sewage or drainage project.

(e) Item 14, Page 5. State the respective amounts of any several indebtedness and the allocated or apportioned amounts of any joint indebtedness contracted or incurred in relation to the financing of a joint water project pursuant to Article II, Title 1-A of the Local Finance Law.

(f) Items 15 and 16, Page 5. State the respective amounts of any several indebtedness and the allocated or apportioned amounts of any joint indebtedness contracted or incurred in relation to the financing of a joint service and a joint sewage or drainage project pursuant to Article II, Title 1-A of the Local Finance Law and excluded pursuant to the provisions of sections 15.20 and 123.00 of such law.

8. Gross Joint Indebtedness. The aggregate gross amount of all joint indebtedness including borrowings, real property liabilities, contract liabilities, judgments, claims, awards and determinations contracted or incurred and before any apportionment or allocation should be stated at page 4 of the debt statement.

---

(Page 2)

Form A. C. 970-3

The following is a statement of the ______ of ______ in the County of ______, New York, to contract indebtedness, and is prepared as of ______, 196 pursuant to Title 8, Article II of the Local Finance Law.

DEBT LIMIT

Multiply "Average Full Valuation" (Page 4)by.09 $ ____

(New York City.10)

TOTAL NET INDEBTEDNESS

Total Inclusions (Page 4) $__

Less: Total Exclusions (Page 5) __

Total Net Indebtedness $__

__

NET DEBT-CONTRACTING MARGIN

Debt Limit (Above) $__

Less: Total Net Indebtedness (Above) __

Net Debt-Contracting Margin $__

__

PERCENTAGE OF DEBT-CONTRACTING POWER EXHAUSTED

Divide "Total Net Indebtedness" by "Debt Limit" and enter result here __

PROPOSED BOND ISSUE

The amount of bonds proposed to be sold at public sale on ____, 196, in connection with which this statement is made and filed is $

The amount of bond anticipation notes heretofore isssued in anticipation of the sale and issuance of such bonds and included at "Borrowings" at Item 1 of Inclusions at page 4 is $__

The municipality will not sell any bonds or notes at public or private sale between the date as of which this debt statement is prepared and the date of sale above mentioned except as follows:

(Page 3)

Form A. C. 970-4

STATEMENT OF TOTAL DEBT

AVERAGE FULL VALUATION

NOTE: See Instruction 5, Page 1.

INCLUSIONS

1. Borrowings. 135.00 (a, 1). $__

2. Real Property Liabilities. 135,00 (a, 2), 142.00. __

3. Contract Liabilities (a)__

(Separate according to 135.00(a, 3)). (b)__

4. Contract Liabilities (a)__

Housing Guarantees; Subsidies. (b)__

(Separate according to 135.00(a, 4)).

5. State Loans to Certain Housing Authorities and

Municipalities. 135.00(a, 5). __

6. Judgments, Claims, Awards and Determinations. (a)__

(Separate according to 135.00(a, 6)). (b)__

7. Indebtedness Contracted by Certain District

Corporations. 135.00(a, 7). __

8. Pay-As-You-Go Financing. (New York City only)

135.00(a, 8), 122.00 __

9. Indebtedness Contracted or Incurred Pursuant to Article II, Title 1-A of the Local Finance Law in relation to a Joint Service or Joint Water, Sewage or Drainage Project: (See Instruction 6, page 1.)

(a) Borrowings. Several Indebtedness. (a) __

(b) Borrowings. Allocated or Apportioned Joint Indebtedness. (b)__

(c) Real Property Liabilities. (c) __

(d) Contract Liabilities. (d) __

(e) Judgments, Claims, Awards and Determinations. (e)__

Total Inclusions $__

__

GROSS JOINT INDEBTEDNESS

The aggregate gross amount of all joint indebtedness

before apportionment or allocation is __

__

(See Instruction 8, page 2.)

(Page 4)

Form A. C. 970-5

STATEMENT OF TOTAL DEBT

(Continued)

EXCLUSIONS

1. Tax and Revenue Obligations. 136.00(1). $ ____ See Instruction 7(a), page 1.

2. Obligations Issued for other than Capital Improvements. 136.00(1-a). ____ See Instruction 7(b), page 2.

3. Water Indebtedness. 136.00(2). ____ See Instruction 7(c), page 2.

4. Indebtedness Contracted for Self-Liquidating Projects. 136.00(3). ____ See Instruction 7(d), page 2.

5. Sewer Indebtedness Contracted on or after January 1, 1962 and prior to January 1, 1973. 136.00(4-a). ____

6. Bonds for Pensions. 136.00(4) ____

7. Assessable Improvements. (Buffalo, Rochester and Syracuse only) 136.00(5). ____

8. Indebtedness of a County wholly included within or Coterminous with a City. ____ (New York City only) 136.00(6).

9. Indebtedness Permitted to be Excluded Pursuant to Local Finance Law, section 136.00(7): (New York City only)

(b) Indebtedness for Self-Liquidating Dock Facilities. (b)____

(c) Indebtedness for Independent Subway Systems. (c)____

(d) Indebtedness for Transit Unification Purposes. (d)____

(e) Rapid Transit Indebtedness Excluded Prior to 1939. (e)____

(f) Indebtedness for Self-Liquidating Transit Facilities. (f)____

(g) Indebtedness for Hospital Purposes. (g)____

(h) Indebtedness for Rapid Transit Railroads. (h)____

(i) Indebtedness for Certain School Purposes. (i)____

10. Indebtedness for Housing and Urban Renewal Purposes. (a)____

Separate according to 136,00(8) (b)____

(c)____

(d)____

11. Assets of Sinking Funds. 136.00(10). ____

12. Cash on Hand for Debts. 136.00(11). ____

13. Appropriations. 136.00(12). ____

14. School Indebtedness Excluded Pursuant to Local Finance Law, section 126.00. ____

(New York City only)

15. (a) Several Indebtedness Contracted in relation to a Joint Water Project. 15.20. (a)____

(b) Joint Indebtedness Contracted for such Purpose. (See Instruction 7(e), page 2) (b)____

16. (a) Several Indebtedness Contracted for a Joint Service and Excluded Pursuant to Local Finance Law, sections 15.20 and 123.00. (a)____

(b) The Apportioned or Allocated Amount of any such Joint Indebtedness so Excluded. (See Instruction 7(f), page 2) (b) ____

17. (a) Several Indebtedness Contracted for a Joint Sewage or Drainage Project and Excluded Pursuant to Local Finance Law, sections 15.20 and 123.00. (a)____

(b) The Apportioned or Allocated Amount of any such Joint Indebtedness so Excluded. (See In- Instruction 7(f), page 2) (b)____

Total Exclusions $____

(Page 5)

Form A. C. 970-7

NOTE: This debt statement must be verified by the chief fiscal officer of the municipality. See definition of the term "chief fiscal officer" in the Local Finance Law, section 2.00(5). If a municipality has no chief fiscal officer, then this statement must be verified by the finance board.

VERIFICATION BY CHIEF FISCAL OFFICER

State of New York )

) ss:

County of _____ )

____________ being duly sworn, deposes and says:

That he is the duly (elected) (appointed), qualified, and acting chief fiscal officer of the ______ in the County of ______, New York; That he prepared and has read the foregoing debt statement and knows the contents thereof; that the same is true to (his) (her) own knowledge except as to the matters therein stated to be alleged upon Information and belief, and that as to those matters he believes it to be true.

Subscribed and sworn to before me Signature

this _ day of __, 19 _.

Title

Notary Public Mail Address

VERIFICATION BY FINANCE BOARD

Not necessary if verification is made by chief fiscal officer

State of New York )

) ss:

County of _____ )

being each duly sworn, depose and say: That they are the duly (elected) (appointed), qualified, and acting members of the finance board of the ______ in the County of ____, New York, that they prepared and each of them has read the foregoing debt statement and knows the contents thereof; that the same is true of their own knowledge except as to the matters therein stated to be alleged upon information and belief, and that as to those matters they believe it to be true.

Subscribed and sworn to before me

this _ day of __, 19 _.

Notary Public

(Page 7)

2 CRR-NY App. 6 Appendix 6 {#sec-2-crr-ny-app.-6 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 6}

Form A. C. 896 (1961)

Annual or Supplemental STATEMENT*

OF

HOUSING AND URBAN RENEWAL INDEBTEDNESS

(Name of Municipality)

__________ COUNTY, NEW YORK

PREPARED AS OF

______, 19

*SEE INSTRUCTIONS, PAGE 2

(continued)

Form A. C. 896-1 (1961)

INSTRUCTIONS

If a city, town or village has any unpaid indebtedness which was contracted to effectuate any of the purposes of Article 18 of the New York State Constitution, as implemented by the Public Housing Law, the General Municipal Law or any other general or special law, within 60 days after the close of its fiscal year an annual verified statement of its housing and urban renewal debt-contracting power must be filed with the State Comptroller and the State Commissioner of Housing. In addition thereto, not more than 15 nor less than 3 days before any such municipality contracts any indebtedness for housing or urban renewal purposes, it shall file with the same officials a verified supplemental statement of its housing and urban renewal debt-contracting power, The annual statement shall contain the items of indebtedness enumerated in Section 135.00 of the Local Finance Law, which are contracted by the municipality for the purposes set forth in paragraph a of Section 150.00 of such law, and should be prepared as of the close of such fiscal year. The supplemental debt statement should indicate any additions to, omissions of or changes in the items or statements contained in its previous annual debt statement. (Local Finance Law, Section 151.00).

A duplicate copy of every annual or supplemental housing and urban renewal debt statement must be filed within the same respective period of time with the clerk or other corresponding officer of such municipality. However, in the case of a city containing more than one county, a copy of such statement shall, in addition thereto, be filed in the office of the chief fiscal officer thereof. (Local Finance Law, Section 151.00).

The term "housing authority", as used in the Local Finance Law, means "authorities" as that term is defined in Section 3 of the Public Housing Law, as amended from time to time. (See Local Finance Law, Section 2.00(13)).

In the appropriate spaces indicate whether the statement is annual or supplemental. The supplemental debt statement must also contain a statement as to the amount of the proposed housing or urban renewal debt to be contracted.

Form A. C. 896-2 (1961)

(Supplemental, Annual) STATEMENT OF HOUSING AND URBAN

RENEWAL INDEBTEDNESS

The following is a statement of the power of the _____ of _____, in the County of _____, New York, to contract indebtedness for housing and urban renewal purposes prepared as of ___, 19, pursuant to Title 11 of Article 2 of the Local Finance Law:

AVERAGE ASSESSED VALUATION

Average Assessed Valuations (One-Fifth of Total of Column 4) $

NOTE: The Local Finance Law, Section 2.00(7), defines "Completed Assessment Roll" as one which has been "completed, verified and filed by the assessors". The amounts to be used in the columns above would be the amounts shown on such rolls as filed after the hearing of grievances, regardless of subsequent changes. Assessed valuation of "Pension Exempt Property" should be entered only by cities with a population of 125,000 or more.

HOUSING AND URBAN RENEWAL DEBT LIMIT

Multiply "Average Assessed Valuation" (Above) by.02 $ __

NET MARGIN OF DEBT-CONTRACTING POWER

FOR HOUSING AND URBAN RENEWAL PURPOSES

Housing and Urban Debt Limit (Above) $__

Less: Net Housing and Urban Renewal Indebtedness

(Page 4) $__

Margin $__

PERCENTAGE OF DEBT-CONTRACTING POWER OF MUNICIPALITY

EXHAUSTED FOR HOUSING AND URBAN RENEWAL

Divide "Net Housing Indebtedness" (Page 4) by "Housing

Debt Limit" (Above) and Enter Result Here __

PROPOSED HOUSING AND URBAN RENEWAL DEBT *

The Amount of the Proposed Housing and Urban Renewal

Debt to be Contracted in Connection with which this

Statement is Filed $__

• Required only for Supplemental Statements.

Form A.C. 896-3 (1961)

HOUSING AND URBAN RENEWAL DEBT STATEMENT

INCLUSIONS

1. Borrowings for housing and urban renewal purposes. See Local Finance Law, Sections 135.00(a, 1) and 151.00(b). $____

2. Real property liabilities for housing and urban re- ____ newal purposes. See Local Finance Law, Sections 135.00(a, 2) and 151.00(b).

3. Contract liabilities for housing and urban renewal (a)____ purposes (other than at '4' and '5' below). Separate according to Local Finance Law, Section 135.00(a, 3). (b) ____ See Local Finance Law, Sections 135.00(a, 3) and 151.00(b).

4. Contract liabilities: Housing guarantees; subsidies. (a)____ Separate according to Local Finance Law, Section 135.00(a, 4). (b)____ See Local Finance Law, Sections 135.00(a, 4), 143.00 and 151.00(b).

5. State loans to certain housing authorities and mu- ____ nicipalities. See Local Finance Law, Sections 135.00(a, 5) and 151.00

6. Judgments, claims, awards and determinations aris- ing out of or connected with housing and urban re- (a) ____ newal purposes. Separate according to Local Finance Law, Section 135.00(a, 6). (b)____ See Local Finance Law, Sections 135.00(a, 6) and 151.00(b).

7. Pay-as-you-go financing for housing and urban re- ____ newal purposes. See Local Finance Law, Sections 122.00, 135.00(a, 8) and 151.00(b).

EXCLUSIONS

1. Assets of sinking funds for housing and urban re- $____ newal debt. See Local Finance Law, Sections 136.00(10) and 151.00(b, 3).

2. Cash on hand for housing and urban renewal debt. ____ See Local Finance Law, Sections 136.00(11) and 151.00(b, 3).

3. Appropriations for housing and urban renewal debt. ____ See Local Finance Law, Sections 136.00(12) and 151.00(b, 3).

4. TOWNS OR VILLAGES WITH A POPULATION LESS THAN 5,000: Indebtedness for housing and urban renewal pur- poses arising from a guarantee, a loan by the State to a housing authority acting as an instrumentality of such town or village or a contract for a periodic subsidy. (Compute according to subdivision 9 of Sec- tion 136.00 of the Local Finance Law). ____ See Local Finance Law, Sections 151.00(b, 1), 143.00.

5. CITIES OR VILLAGEES WITH A POPULATION OF 5,000 OR MORE: The unpaid balances of any loan or loans by the State to any housing authority acting as an instru- mentality of the city or village. No exclusion is permitted, if such housing authority is in default in payment of such loan or loans. ____ See Local Finance Law, Section 151.00[b, 2(a)].

6. CITIES OR VILLAGES WITH A POPULATION OF 5,000 OR MORE: Indebtedness for self-liquidating housing projects ____ See Local Finance Law, Sections 151.00[b, 2(b)], 152.00.

7. CITIES OR VILLAGES WITH A POPULATION OF 5,000 OR MORE: Indebtedness for housing and urban renewal pur- poses permitted to be deducted pursuant to Item (c) of Subdivision 2 of Paragraph b, Section 151.00 of the Local Finance Law. ____ See Local Finance Law, Section 151.00[b, 2(c)].

8. CITIES OR VILLAGES WITH A POPULATION OF 5,000 OR MORE: Indebtedness for urban renewal purposes permitted to be deducted pursuant to Item (d) of Subdivision 2 of Paragraph b, Section 151.00 of the Local Finance Law. ____ See Local Finance Law, Section 151.00[b, 2(d)].

Gross Housing and Urban Renewal Indebtedness $ ____

Less: Exclusions ____

Net Housing and Urban Renewal Indebtedness $ ____

---

Form A.C. 896-4 (1961)

SCHEDULE A

This schedule should show the bonds, notes or other obligations which have been authorized to be issued for housing and urban renewal purposes to the extent to which obligations have not been issued.

The following symbols may be used above: Serial Bond--SB; Bond Anticipation Note or similar obligation--BAN; Capital Note--CN; Revenue Anticipation Notes--RAN.

VERIFICATION BY CHIEF FISCAL OFFICER

STATE OF NEW YORK

SS:

COUNTY OF _____

________, being duly sworn, deposes and says:

That he is the duly (elected) (appointed), qualified, and acting chief fiscal officer of the ______ of ______ in the County of ______, New York; that he prepared and has read the foregoing (annual) (supplemental) debt statement of housing and urban renewal indebtedness and knows the contents thereof; that the same is true to (his) (her) own knowledge except as to the matters therein stated to be alleged upon information and belief; and that as to those matters he believes it to be true.

Sworn to before me this __day of (Signature)

________, 19 (Title)

(Mail Address)

Notary Public

---

(The statement of housing and urban renewal indebtedness must be verified by the chief fiscal officer. In towns such officer will be the supervisor or presiding supervisor; in villages and counties, the treasurer, except in the County of Suffolk, the county auditor. For cities, see definition in Local Finance Law, Section 2.00(5). If a municipality has no chief fiscal officer, this statement must be verified by the finance board.)

2 CRR-NY App. 7 Appendix 7 {#sec-2-crr-ny-app.-7 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 7}

Form A.C. 877 (1961)

CERTIFICATE OF THE CHIEF FISCAL OFFICER

OF (Name of Municipality)

RELATING TO THE ISSUANCE OF URBAN RENEWAL NOTES

FOR URBAN RENEWAL PROJECT NO. ____

(Pursuant to Local Finance Law, Section 25.10(e))

I, (Name) the (Title),

chief fiscal officer, of the (City)(Town)(Village) of _____

New York (hereinafter referred to as the "municipality"), do hereby certify that:

1. Such municipality has duly authorized an urban renewal project pursuant to the provisions of the General Municipal Law.

2. The finance board of such municipality by resolution adopted on the _ day of _____, 19 _ has (authorized the issuance) (delegated the power to authorized the issuance) of urban renewal notes in the aggregate principal amount of $ ___ for the temporary financing of such project.

3. Such municipality intends to issue and sell urban renewal notes within not more than fifteen nor less than three days after the date of the filing of this certificate in the aggregate principal amount of $ ___ pursuant to (such resolution) (a certificate of the undersigned chief fiscal officer) and section 25.10 of the Local Finance Law in anticipation of the receipt of moneys for such project from (the sale of real property or an interest therein acquired for or incidental to such project;) (the United States government pursuant to Title 1 of the Housing Act of 1949, as amended;) (the State of New York pursuant to the General Municipal Law.)*

4. Pertinent data relating to cost of the project and its previous financing, as set forth in the attached Exhibit A, show that the proposed issuance and sale of urban renewal notes does not exceed the urban renewal note borrowing margin of the municipality for the project at this date.

Dated Chief Fiscal Officer

This certificate is hereby approved this

_ day of _____,

19_.

Commissioner of Housing and

Community Renewal**

• Include only the appropriate sources of moneys in anticipation of the receipt of which urban renewal notes are to be issued.

** Division of Housing and Community Renewal--Transmit original of approved certificate to:

Department of Audit and Control

Division of Municipal Affairs

110 State Street

Albany, New York 12236-0001

Return rejected certificates to Chief Fiscal Officer of Municipality.

INSTRUCTIONS

Purpose

The purpose of these forms is to determine the total amount of urban renewal notes which a municipality may issue for temporarily financing an urban renewal project in anticipation of the receipt of moneys for the project from (1) the sale of real property acquired for the project; (2) the United States Government; (3) the State of New York; (4) from any or all such sources. At no time may an urban renewal note be issued or renewed in an amount which shall exceed the total receivable from these sources.

Not more than 15 days nor less than 3 days before the sale of urban renewal notes by a municipality, its chief fiscal officer shall file with the State Comptroller a certificate containing the information prescribed by the State Comptroller. The certificate shall also bear the approval of the Commissioner of Housing and Community Renewal (Local Finance Law, Section 25.10(e)). This certificate is required to be filed in addition to the Statement of Housing and Urban Renewal Indebtedness required by Local Finance Law, Section 151.00 (Form A.C. 896 (1960)). No additional certificate is required to be filed in connection with the subsequent renewal of an outstanding urban renewal note.

Page 1, Item 2

Indicate by appropriate deletion whether the municipal finance board has authorized issuance of the notes or has delegated the issuing power to the chief fiscal officer.

Page 1, Item 3

Make such deletions as are necessary to show whether issuance of the notes will be made pursuant to resolution or to the certificate of the chief fiscal officer, and indicate only the source or sources of moneys in anticipation of which the notes are to be issued.

Exhibit A

The total provision for financing project (Line 7) must agree with the total estimated cost of the project (Line 1).

The local share of financing for project (Line 4) must agree with the total cash and non-cash local grants-in-aid (Lines 8 and 9).

The amount to be issued on present urban renewal note certification (Line 17) may not exceed the borrowing margin (Line 16) and should agree with the aggregate principal amount stated in Item 3 on page 1.

Schedule 1

Show data on obligations at the date of this certification and for this project only. Exclude obligations, if any, issued to finance the local share of the net project cost.

Filing

For the required approval of the Commissioner of Housing and Community Renewal, send the original and one copy of the completed certificate to:

State Division of Housing and Community Renewal

270 Broadway

New York 7, New York

To comply with the time limits fixed by statute (Page 1, Item 3) sufficient time should be allowed for the Division of Housing and Community Renewal to process the certificate and forward it the State Comptroller.

2 CRR-NY App. 8 Appendix 8 {#sec-2-crr-ny-app.-8 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 8}

Form A.C., 973 (1964 Rev.)

Cities under 125,000 population

Counties

Towns

Villages

DEBT STATEMENT

OF

Name of Municipality

___________ COUNTY, NEW YORK

PREPARED AS OF

______, 19 _

Form A.C. 973-1

Cities under 125,000 population

Counties

Towns

Villages

STATE OF NEW YORK

DEPARTMENT OF AUDIT AND CONTROL

DIVISION OF MUNICIPAL AFFAIRS

This is the official debt statement form prescribed for use by counties, towns, villages and cities having a population of less than 125,000 inhabitants according to the 1960 federal census.

ARTHUR LEVITT

State Comptroller

INSTRUCTIONS

1. Statutory Reference. At each Item of indebtedness to be included and excluded in the debt statement will be found a statutory reference. For example, "135.00(a, 1)" means "subdivision 1 of paragraph a of section 135.00 of the Local Finance Law". Reference to that section in the Local Finance Law will show the statutory meaning of the word "Borrowings". Wherever a reference appears, that section of the Local Finance Law should be consulted.

2. Date of Preparation. The statement must be prepared as of a date not more than thirty days previous to the date of sale of bonds. Local Finance Law, section 109.00.

3. Filing. A debt statement must be filed not more than fifteen days nor less than three days before a municipality sells any bonds which are required to be sold at public sale. The statement must be filed with the State Comptroller and a duplicate copy must be filed with the clerk or corresponding officer of the municipality. It is not necessary to file a copy in the county clerk's office. Local Finance Law, section 109.00.

4. Fees for Copies. Should it be necessary to obtain either a copy, certified copy, or exemplified copy of a debt statement filed with the State Comptroller, see paragraph c of section 141.00 of the Local Finance Law, as added by Chapter 437 of the Laws of 1947, for fee schedule. The statute requires such fees to be prepaid.

5. Average Full Valuation. In computing "Average Full Valuation" at page 4, use last completed assessment roll and four preceding rolls. A completed assessment roll is one which has been completed, verified and filed by the assessors and for which a State equalization rate has been established. The words "For Fiscal Year Ending" refer to the year for which taxes have been or will be extended on the assessment roll rather than the year in which the roll was completed. The amounts to be used in Column 1 would be the amounts shown on such rolls as filed after the hearing of grievances, regardless of subsequent changes. In Column 1, include the assessed valuations of special franchises but exclude the assessed valuations of all exempt properties to the extent they are exempt from general taxation. Full valuation (Column 3) is determined as follows: Divide the assessed valuations (Column 1) by the equalization rate (Column 2) established by the State for such valuation. Where boundary changes have occurred and in the case of newly-created municipalities, see section 2.00(7-a) of the Local Finance Law.

In the case of counties, average full valuation is computed by dividing the assessed valuations on the last completed and four preceding assessment rolls of the cities and towns therein by the equalization rates established for such rolls; provided, however, in a county having a county department of assessment the State equalization rates established for the cities and towns therein on the basis of the county roll shall be applied to the apportionate portions of the county roll. The sum of the quotients thus obtained shall be divided by five.

6. INCLUSIONS:

Re Item 8, Page 4. Include the respective amounts of all several indebtedness and allocated or apportioned joint indebtedness contracted or incurred pursuant to Article II, Title 1-A of the Local Finance Law in relation to a joint service or a joint water, sewage or drainage project. The amount of joint indebtedness to be so included should not exceed the amount of such indebtedness allocated and apportioned to the municipality in the bond or note resolution authorizing such indebtedness to be contracted.

(Page 1)

Form A.C. 973-2

Joint indebtedness to be included arising out of real property liabilities and contract liabilities should not exceed the amount of such indebtedness required to be allocated and apportioned to the municipality in the agreement of the participating municipalities in relation to such joint service or project. Where the agreement does not provide for any such allocation or apportionment, or in the case of involuntary joint indebtedness, the amount to be allocated and apportioned and included in the debt statement of a participating municipality should be in the same proportion as the full valuation of the real estate subject to taxation or assessment by such municipality for such joint service or project bears to the full valuation of the real estate subject to taxation or assessment by all of the participating municipalities for such joint service or project. See Local Finance Law, section 15.10. However, if the State Comptroller has issued a certificate allocating and apportioning such joint indebtedness pursuant to the provisions of section 15.10 of the Local Finance Law, the amounts so allocated and apportioned by the State Comptroller should be included in the debt statements of each respective municipality as indebtedness.

7. EXCLUSIONS:

(a) Item 1, Page 5. Do not include bonds, bond anticipation notes, capital notes, budget notes or obligations which have been issued for the direct financing of improvement or equipment. Do not include any tax or revenue obligations, or renewals thereof, which have not been retired within five years after the date such original obligations were issued.

(b) Item 2, Page 5. Include only obligations issued for objects or purposes other than the financing of capital improvements and contracted to be redeemed in one of the two fiscal years immediately succeeding the year of their issue, Do not include serial bonds of an issue having a maximum maturity of more than two years.

(c) Item 3, Page 5. Do not include joint or several indebtedness contracted pursuant to Article II, Title 1-A of the Local Finance Law to finance a joint water project. Such indebtedness is to be included in Item 12, page 5.

(d) Item 4, Page 5. Do not include any indebtedness contracted pursuant to Article II, Title 1-A of the Local Finance Law in relation to a joint service or a joint water, sewage or drainage project.

(e) Item 11, Page 5. Include city indebtedness for education purposes, if any, allocated to the city school district by the State Comptroller pursuant to section 1 of Chapter 831 of the Laws of 1951.

(f) Item 12, Page 5. State the respective amounts of any several indebtedness and the allocated or apportioned amounts of any joint indebtedness contracted or incurred in relation to the financing of a joint water project pursuant to Article II, Title 1-A of the Local Finance Law.

(g) Items 13 and 14, Page 5. State the respective amounts of any several indebtedness and the allocated or apportioned amounts of any joint indebtedness contracted or incurred in relation to the financing of a joint service and a joint sewage or drainage project pursuant to Article II, Title 1-A of the Local Finance Law and excluded pursuant to the provisions of sections 15.20 and 123.00 of such law.

8. Gross Joint Indebtedness. The aggregate gross amount of all joint indebtedness including borrowings, real property liabilities, contract liabilities, judgments, claims, awards and determinations contracted or incurred and before any apportionment or allocation should be stated at page 4 of the debt statement.

---

(Page 2)

Form A.C. 973-3

The following is a statement of the __ of __ in the County of __, New York, to contract indebtedness, and is prepared as of __, 196 , pursuant to Title 8, Article II of the Local Finance Law.

DEBT LIMIT

Counties (except Nassau), cities, towns and villages $ __

Multiply "Average Full Valuations" (Page 4) by.07

(Nassau County.10)

TOTAL NET INDEBTEDNESS

Total Inclusions (Page 4) $__

Less: Total Exclusions (Page 5) __

Total Net Indebtedness $__

__

NET DEBT-CONTRACTING MARGIN

Debt Limit (Above) $__

Less: Total Net Indebtedness (Above) __

Net Debt-Contracting Margin $__

__

PERCENTAGE OF DEBT-CONTRACTING POWER EXHAUSTED

Divide "Total Net Indebtedness" by "Debt Limit" and

enter result here __

PROPOSED BOND ISSUE

The amount of bonds proposed to be sold at public sale

on __, 196 , in connection with

which this statement is made and filed is $ __

The amount of bond anticipation notes heretofore issued

in anticipation of the sale and issuance of such bonds

and included at "Borrowings" at Item 1 of Inclusions at

page 4 is $__

The municipality will not sell any bonds or notes at public

or private sale between the date as of which this debt

statement is prepared and the date of sale above mentioned

except as follows:

(Page 3)

Form A.C. 973-4

STATEMENT OF TOTAL DEBT

AVERAGE FULL VALUATION

NOTE: See Instruction 5, Page 1.

INCLUSIONS

1. Borrowings. 135.00(a, 1). $____

2. Real Property Liabilities. 135.00(a, 2), 142.00. ______

3. Contract Liabilities. (Separate according to 135.00(a, 3)). (a)____

(b)____

4. Cities, Towns and Villages: Contract Liabilities: Housing Guarantees; Subsidies. (a)____ (Separate according to 135.00(a, 4)). (b)____

5. Cities, Towns and Villages: State Loans to Certain Housing Authorities and Mu- nicipalites. 135.00(a, 5). ____

6. Judgments, Claims, Awards and Determinations (a)____ (Separate according to 135.00(a, 6)) (b)____

7. Cities, Towns and Villages: Indebtedness Contracted by Certain District Corpora- tions. 135.00(a, 7) ____

8. Indebtedness Contracted or Incurred Pursuant to Article II, Title I-A of the Local Finance Law in relation to a Joint Service or Joint Water, Sewage or Drainage Project: (See Instruction 6, Page 1.) (a) Borrowings: Several Indebtedness. ____ (b) Borrowings: Allocated or Apportioned Joint Indebtedness. ____ (c) Real Property Liabilities. ____ (d) Contract Liabilities. ____ (e) Judgments, Claims. Awards and Determinations. ____ Total Inclusions $ ____

---

GROSS JOINT INDEBTEDNESS

The aggregate gross amount of all joint indebtedness before apportionment or allocation i $____ (See Instruction 8, page 2.)

---

(Page 4)

Form A.C. 973-5

STATEMENT OF TOTAL DEBT

(Continued)

EXCLUSIONS

1. Tax and Revenue Obligations. 136.00(1). $____ (See Instruction 7(a), page 2.)

2. Obligations Issued for other than Capital Improve- ments. 136.00(1-a) ____ (See Instruction 7(b), page 2.)

3. Water Indebtedness. 136.00(2). $____ (See Instruction 7(c), page 2.)

4. Indebtedness Contracted for Self-Liquidating Proj- ects. 136.00(3). (a) ____ (See Instruction 7(d), page 2.) (b)____

(c)__

5. Sewer Indebtedness Contracted on or after January 1, 1962, and prior to January 1, 1973. 136.00(4-a). ____

6. Bonds for Pensions. 136.00(4). ____

7. Cities and Villages with Population of 5,000 or More: Indebtedness for Housing and Urban Renewal Purposes. (a)____ (Separate according to 136.00(8)). (b)____

(c)____

(d)____

8. Towns and Villages with Population of Less than 5,000: Subsidies or Guarantees for Housing Purposes. 136.00(9). ____

9. Assets of Sinking Funds. 136.00(10). ____

10. Cash on Hand for Debts. 136.00(11). ____

11. Appropriations. 136.00(12). ____

12. Cities Only: School Indebtedness. 136.00(13) ____ (See Instruction 7(e), page 2.)

13. (a) Several Indebtedness Contracted in relation to a Joint Water Project. 15.20. (a) ____

(b) Joint Indebtedness Contracted for such Purpose. (b)____ (See Instruction 7(f), page 2.)

14. (a) Several Indebtedness Contracted for a Joint Service and Excluded Pursuant to Local Finance Law, sections 15.20 and 123.00. (a)____

(b) The Apportioned or Allocated Amount of any such Joint Indebtedness so Excluded. (b)____ (See Instruction 7(g), page 2.)

15. (a) Several Indebtedness Contracted for a Joint Sewage or Drainage Project and Excluded Pur- suant to Local Finance Law, sections 15.20 and 123.00. (a)____

(b) The Apportioned or Allocated Amount of any such Joint Indebtedness so Excluded. (b)____ (See Instruction 7(g), page 2.)

Total Exclusions $____.

---

Form A.C. 973-7

NOTE: This debt statement must be verified by the chief fiscal officer of the municipality. See definition of the term "chief fiscal officer" in the Local Finance Law, section 2.00(5). If a municipality has no chief fiscal officer, then this statement must be verified by the finance board.

VERIFICATION BY CHIEF FISCAL OFFICER

State of New York )

) ss:

County of_____)

____ being duly sworn, deposes and says: That _he is the duly (elected) (appointed), qualified, and acting chief fiscal officer of the ____ in the County of ____ New York; that _he prepared and has read the foregoing debt statement and knows the contents thereof; that the same is true to (his) (her) own knowledge except as to the matters therein stated to be alleged upon information and belief, and that as to those matters _he believes it to be true.

Subscribed and sworn to before me Signature

this _ day of __, 19 _. Title

Notary Public Mail Address

VERIFICATION BY FINANCE BOARD

Not necessary if verification is made by chief fiscal officer

State of New York )

) ss:

County of ______)

being each duly sworn, depose and say: That they are the duly (elected) (appointed), qualified, and acting members of the finance board of the __ in the County of __, New York, that they prepared and each of them has read the foregoing debt statement and knows the contents thereof; that the same is true of their own knowledge except as to the matters therein stated to be alleged upon information and belief, and that as to those matters they believe it to be true.

Subscribed and sworn to before me ___________

this _ day of __, 19 _. ___________

Notary Public ___________

---

2 CRR-NY App. 9 Appendix 9 {#sec-2-crr-ny-app.-9 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 9}

Form A. C. 972 (1963 Rev.)

School Districts outside Cities

DEBT STATEMENT

OF

---

in the _______ of ______________

---

________________ COUNTY, NEW YORK

PREPARED AS OF

________, 19

Form A.C.972-1

School Districts outside CitiesINSTRUCTIONS

1. WHEN FILING IS REQUIRED. A debt statement must be filed not more than fifteen days nor less than three days before any school district having an aggregate assessed valuation of real property of $100,000 or over sells any bonds which are required to be sold at public sale. Local Finance Law, Section 109.00(a).

2. DATE OF PREPARATION. The statement must be prepared as of a date not more than thirty days previous to the date of sale of the bonds. Local Finance Law. Section 109.00(a).

3. PLACE OF FILING. The statement must be filed with the State Comptroller. To insure prompt delivery to the correct filing office, address envelope as follows: ‘Department of Audit and Control, Division of Municipal Affairs, 110 State Street, Albany, New York 12236-0001’. A duplicate copy must be filed with the clerk (or corresponding officer) of the school district. Local Finance Law Section 109.00(a).

4. VERIFICATION. The statement must be verified by the chief fiscal officer of the school district. In school districts, the chairman or president of the school board is the chief fiscal officer. In the case of common school districts having a sole trustee, the sole trustee is the chief fiscal officer.

5. BOND ANTICIPATION NOTES. (a) In connection with the sale of bond anticipation notes, a school district may prepare a debt statement and may file such statement in the manner provided in Section 309.00 of the Local Finance Law. Local Finance Law, Section 137.00 (last sentence). In such case enter the amount of such notes at Part 3 of Section A on Page 2.

(b) Where bonds are being sold, do not include in Part 1, 2, 3, 4 or 5 of Section A the amount of bond anticipation notes issued, or proposed to be issued, in anticipation of the bonds proposed to be sold, the amount of which bonds is entered at Part 2 of Section A. This will result in a double inclusion of indebtedness.

6. ESTIMATE OF STATE AID APPORTIONMENT. A school district which completes paragraph 1 of Section C of this statement may obtain three certified copies of the estimate of the Commissioner of Education, referred to in such section, from the State Department of Education without charge. A certified copy of the estimate must be attached to each of the copies which are filed in accordance with Instruction 3 above. Section 121.20 of the Local Finance Law provides that the estimate is effective only until June 30 next succeeding the date thereof.

7. FEES FOR COPIES. Should it be necessary to obtain a copy, certified copy or exemplified copy of a debt statement filed with the State Comptroller, the same may be obtained upon prepayment of the following fees: (Local Finance Law, Section 141.00(c)).

8. Copy (not certified) $1.50

9. Certified copy where copy is presented for certification 1.50

10. Certified copy where copy is not presented for certification 2.00

11. Exemplified copy where copy is presented for exemplification 2.50

12. Exemplified copy where copy is not presented for exemplification 3.00

An additional fee of 10¢ per folio is charged where entries in Parts 1 and 2 of Schedule A at Page 4 exceed ten folios. Make check payable to ‘State Comptroller'.

Form A. C. 972-2

SECTION A. BONDED INDEBTEDNESS

1. Outstanding Bonds and Bond Anticipation Notes Outstanding bonds $ __ Outstanding bond anticipation notes __ (Do not include notes issued in anticipation of the bonds at Part 2 below. See Instruction 5)

2. Bonds of the Proposed Bond Issue in Connection with which this Debt Statement is Prepared Bonds proposed to be sold __

3. Bond Anticipation Notes of the Proposed Note Issue in Connection with which this Debt Statement is Prepared Bond anticipation notes proposed to be sold __ (Do not include notes issued, or proposed to be issued, in anticipation of bonds at Part 2 above, See Instruction 5)

4. Bonded Indebtedness of a Merged or Annexed School District (a) Enter the amount of outstanding bonds and bond antici- pation notes ofschool districts which merged to form the reporting school district, whether or not any of such other school districts prior to such merger, had an aggre- gate assessed valuation of $100,000 or more and whether or not any of such other school districts still exist for the purpose of paying off its indebtedness or distributing its property __ (b) Enter the amount of outstanding bonds and bond antici- pation notes of any school district which was annexed to the reporting school district, whether or not such annexed school district had an aggregate assessed valuation of $100,000 or more, prior to such annexation, and whether or not it still exists for the purpose of paying off its indebtedness or distributing its property __ (c) Enter the appropriate proportion of the amount of out- standing bonds and bond anticipation notes of any school district part of which was annexed to the reporting school district, whether or not the aggregate assessed valua- tion of such partially annexed school district, prior to such annexation, was $100,000 or more. The proportion of the amount of such outstanding bonds and bond anticipa- tion notes to be so included shall be ascertained by multi- plying the amount of such bonds and bond anticipation notes by the percentage or ratio, at the time of annexa- tion, that the average assessed valuation of the portion of the school district annexed bore to the average assessed valuation of the whole of such partially annexed school district as it existed prior to such annexation __ (See definition of ‘average assessed valuation' at subdivision 7 of section 2.00 of the Local Finance Law.)

5. Bonds and Bond Anticipation Notes Issued by a City which the School District will be Required to Pay Pursuant to Law Bonds __ Bond anticipation notes __ (Do not include notes issued in anticipation of bonds at Part 2 above. See Instruction 5)

Total $ __

__

SECTION B. PROPOSED ISSUE

The amount of bonds included in Section A(2) to be sold at (public) (private) sale on __, 19 _, is $ _. The amount of bond anticipation notes included in Section A(3) proposed to be sold at (public) (private) sale on __, 19 _, is $ _. The school district will not sell any bonds or bond anticipation notes at public or private sale between the date as of which this statement is prepared and the date of sale above-mentioned except as follows:

(no exceptions)

Form A. C. 972-3

SECTION C. EXCLUSIONS

1. The amount of indebtedness evidenced by bonds and bond anticipation notes, included in Section A, contracted or to be contracted for objects or purposes having periods of probable usefulness provided in subdivisions 11, 12 and 13 of paragraph a of section 11.00 of the Local Finance Law and in relation to which the Commissioner of Education has estimated pursuant to section 121.20 of such law that moneys receivable by the school district from the State of New York as an apportionment of state aid for debt service for school building purposes will meet the interest on and the annual requirements for the payment of such indebtedness, is $ __ (A certified copy of such estimate is attached to and forms a part of this debt statement. (See Instruction 6)).

2. Indebtedness contracted to finance acquisition, construc- tion, and installation of a shelter or fallout shelter __ (Maximum amount of exclusion shall not exceed $50.00 multiplied by the planned shelter occupancy. Defense Emergency Act, Section 29(3)).

Total $__

__

SECTION D. NET INDEBTEDNESS

Bonded Indebtedness (Enter Total of Section A) $__

Less: Exclusions (Enter Total of Section C (1 and 2), if claimed) $__

Total Net Indebtedness $ __

__

SECTION E. FULL VALUATION OF REAL PROPERTY SUBJECT TO TAXATION BY SCHOOL DISTRICT

SECTION F. BONDED DEBT LIMIT

The bonded debt limit of the school district is $__

(The amount of the limit will be computed by multiplying

the full valuation of real property subject to taxation by

the school district by.10. See Section E).

SECTION G. DEBT-CONTRACTING MARGIN

Debt Limit (Enter amount of Section F) $ __

Less: Net Indebtedness (Enter amount of Section D) __

Net Debt-Contracting Margin $ __

__

SECTION H. CONSENT TO EXCEED DEBT LIMIT

The Board of Regents has consented to the issuance of the bonds proposed to be issued by consent dated __.

(If Debt-Contracting Margin is "minus", or if this bond issue will produce a "minus" margin, such consent must be obtained. Local Finance Law, Section 104.00(d)).

Form A. C. 972-5

VERIFICATION BY CHIEF FISCAL OFFICER

State of New York )

) ss:

County of __ )

__, being duly sworn, deposes and says: That he is the duly (elected) (appointed), qualified, and acting chief fiscal officer of ____, in the (Town) (Towns) (City) of ____ in the (County) (Counties) of ____, New York; that he prepared and has read the foregoing debt statement and knows the contents thereof, that the same is true to (his) (her) own knowledge except as to the matters therein stated to be alleged upon information and belief, and that as to those matters, he believes it to be true.

Subscribed and sworn to before me this ____________

__ day of ____________, 19 _. Title __________

Notary Public Mail Address ________

2 CRR-NY App. 10 Appendix 10 {#sec-2-crr-ny-app.-10 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 10}

2 CRR-NY App. 10-A Appendix 10-A {#sec-2-crr-ny-app.-10-a omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 10-A}

Table No. 1

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MALE SERVICE PENSIONERS MORTALITY

(For persons who became members between 4/1/66 and 7/31/83)

| Agex | qx | | --- | --- | | 25 | .00823 | | 26 | .00845 | | 27 | .00867 | | 28 | .00889 | | 29 | .00911 | | 30 | .00934 | | 31 | .00958 | | 32 | .00984 | | 33 | .01012 | | 34 | .01042 | | 35 | .01074 | | 36 | .01108 | | 37 | .01144 | | 38 | .01182 | | 39 | .01222 | | 40 | .01265 | | 41 | .01310 | | 42 | .01359 | | 43 | .01409 | | 44 | .01463 | | 45 | .01519 | | 46 | .01579 | | 47 | .01643 | | 48 | .01711 | | 49 | .01782 | | 50 | .01858 | | 51 | .01938 | | 52 | .02022 | | 53 | .02112 | | 54 | .02206 | | 55 | .02307 | | 56 | .02414 | | 57 | .02526 | | 58 | .02645 | | 59 | .02770 | | 60 | .02903 | | 61 | .03044 | | 62 | .03192 | | 63 | .03350 | | 64 | .03516 | | 65 | .03692 | | 66 | .03877 | | 67 | .04074 | | 68 | .04282 | | 69 | .04502 | | 70 | .04734 | | 71 | .04980 | | 72 | .05238 | | 73 | .05513 | | 74 | .05802 | | 75 | .06107 | | 76 | .06429 | | 77 | .06770 | | 78 | .07129 | | 79 | .07508 | | 80 | .07907 | | 81 | .08329 | | 82 | .08774 | | 83 | .09243 | | 84 | .09737 | | 85 | .10257 | | 86 | .10806 | | 87 | .11383 | | 88 | .11991 | | 89 | .12631 | | 90 | .13303 | | 91 | .14043 | | 92 | .14825 | | 93 | .15677 | | 94 | .16620 | | 95 | .17682 | | 96 | .18899 | | 97 | .20316 | | 98 | .21988 | | 99 | .23981 | | 100 | .26373 | | 101 | .29255 | | 102 | .32732 | | 103 | .36924 | | 104 | .41967 | | 105 | .48014 | | 106 | .55236 | | 107 | .63823 | | 108 | .73985 | | 109 | .85953 | | 110 | 1.00000 |

| | | | | --- | --- | --- | | Male clerk | Age x = Age x | on Table 1 | | Male laborer | Age x = Age x+1 | on Table 1 | | Police & Fire | Age x = Age x | on Table 1 |

Table No. 2

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

FEMALE SERVICE PENSIONERS, MALE & FEMALE BENEFICIARY MORTALITY (For persons who became members between 4/1/66 and 7/31/83)

| Agex | qx | | --- | --- | | 25 | .00823 | | 26 | .00845 | | 27 | .00867 | | 28 | .00889 | | 29 | .00911 | | 30 | .00934 | | 31 | .00958 | | 32 | .00984 | | 33 | .01012 | | 34 | .01042 | | 35 | .01074 | | 36 | .01108 | | 37 | .01144 | | 38 | .01182 | | 39 | .01222 | | 40 | .01265 | | 41 | .00410 | | 42 | .00434 | | 43 | .00460 | | 44 | .00488 | | 45 | .00517 | | 46 | .00547 | | 47 | .00579 | | 48 | .00613 | | 49 | .00650 | | 50 | .00688 | | 51 | .00728 | | 52 | .00771 | | 53 | .00817 | | 54 | .00865 | | 55 | .00916 | | 56 | .00970 | | 57 | .01028 | | 58 | .01088 | | 59 | .01152 | | 60 | .01220 | | 61 | .01292 | | 62 | .01368 | | 63 | .01448 | | 64 | .01533 | | 65 | .01624 | | 66 | .01718 | | 67 | .01819 | | 68 | .01926 | | 69 | .02039 | | 70 | .02158 | | 71 | .02286 | | 72 | .02419 | | 73 | .02561 | | 74 | .02710 | | 75 | .02868 | | 76 | .03036 | | 77 | .03213 | | 78 | .03400 | | 79 | .03598 | | 80 | .03809 | | 81 | .04035 | | 82 | .04279 | | 83 | .04544 | | 84 | .04834 | | 85 | .05154 | | 86 | .05510 | | 87 | .05910 | | 88 | .06364 | | 89 | .06884 | | 90 | .07484 | | 91 | .08179 | | 92 | .08985 | | 93 | .09919 | | 94 | .11000 | | 95 | .12249 | | 96 | .13689 | | 97 | .15345 | | 98 | .17245 | | 99 | .19420 | | 100 | .21904 | | 101 | .24735 | | 102 | .27956 | | 103 | .31616 | | 104 | .35771 | | 105 | .40484 | | 106 | .45825 | | 107 | .51872 | | 108 | .58711 | | 109 | .66437 | | 110 | .75154 | | 111 | .84975 | | 112 | .96022 | | 113 | 1.00000 |

| | | | | --- | --- | --- | | Female Beneficiary | Age x = Age x | on Table 2 | | Female Clerk | Age x = Age x+3 | on Table 2 | | Female Laborer | Age x = Age x+6 | on Table 2 | | Male Beneficiary | Age x = Age x+3 | on Table 2 |

Table No. 3

EMPLOYEES' RETIREMENT SYSTEM MALE DISABILITY PENSIONERS MORTALITY

(For persons who became members between 4/1/66 and 7/31/83)

| | | | | --- | --- | --- | | Male clerk | Age x = Age x | on Table 3 | | Male laborer | Age x = Age x | on Table 3 | | Police & Fire | Age x = Age x−7 | on Table 3 |

| Agex | qx | | --- | --- | | 13 | .00701 | | 14 | .00720 | | 15 | .00739 | | 16 | .00758 | | 17 | .00777 | | 18 | .00796 | | 19 | .00815 | | 20 | .00834 | | 21 | .00853 | | 22 | .00872 | | 23 | .00891 | | 24 | .00910 | | 25 | .00930 | | 26 | .00951 | | 27 | .00973 | | 28 | .00996 | | 29 | .01021 | | 30 | .01048 | | 31 | .01077 | | 32 | .01108 | | 33 | .01141 | | 34 | .01177 | | 35 | .01216 | | 36 | .01258 | | 37 | .01303 | | 38 | .01351 | | 39 | .01401 | | 40 | .01454 | | 41 | .01511 | | 42 | .01570 | | 43 | .01633 | | 44 | .01699 | | 45 | .01770 | | 46 | .01845 | | 47 | .01924 | | 48 | .02009 | | 49 | .02097 | | 50 | .02191 | | 51 | .02290 | | 52 | .02395 | | 53 | .02506 | | 54 | .02624 | | 55 | .02749 | | 56 | .02881 | | 57 | .03020 | | 58 | .03167 | | 59 | .03323 | | 60 | .03488 | | 61 | .03663 | | 62 | .03847 | | 63 | .04042 | | 64 | .04243 | | 65 | .04465 | | 66 | .04695 | | 67 | .04938 | | 68 | .05195 | | 69 | .05466 | | 70 | .05754 | | 71 | .06056 | | 72 | .06375 | | 73 | .06713 | | 74 | .07069 | | 75 | .07444 | | 76 | .07841 | | 77 | .08259 | | 78 | .08700 | | 79 | .09165 | | 80 | .09654 | | 81 | .10171 | | 82 | .10715 | | 83 | .11287 | | 84 | .11890 | | 85 | .12524 | | 86 | .13191 | | 87 | .13893 | | 88 | .14630 | | 89 | .15404 | | 90 | .16219 | | 91 | .17094 | | 92 | .18059 | | 93 | .19154 | | 94 | .20429 | | 95 | .21944 | | 96 | .23769 | | 97 | .25984 | | 98 | .28679 | | 99 | .31954 | | 100 | .35919 | | 101 | .40694 | | 102 | .46409 | | 103 | .53204 | | 104 | .61229 | | 105 | .70644 | | 106 | .81619 | | 107 | .94334 | | 108 | |

Table No. 4

EMPLOYEES' RETIREMENT SYSTEM FEMALE DISABILITY PENSIONERS MORTALITY

(For persons who became members between 4/1/66 and 7/31/83)

| | | | | --- | --- | --- | | Female Clerk | Age x = Age x | on Table 4 | | Female Laborer | Age x = Age x | on Table 4 |

| Agex | qx | | --- | --- | | 20 | .00811 | | 21 | .00818 | | 22 | .00825 | | 23 | .00832 | | 24 | .00839 | | 25 | .00846 | | 26 | .00853 | | 27 | .00860 | | 28 | .00868 | | 29 | .00877 | | 30 | .00887 | | 31 | .00898 | | 32 | .00911 | | 33 | .00926 | | 34 | .00943 | | 35 | .00962 | | 36 | .00983 | | 37 | .01006 | | 38 | .01030 | | 39 | .01055 | | 40 | .01082 | | 41 | .01111 | | 42 | .01141 | | 43 | .01173 | | 44 | .01207 | | 45 | .01243 | | 46 | .01281 | | 47 | .01322 | | 48 | .01364 | | 49 | .01410 | | 50 | .01458 | | 51 | .01508 | | 52 | .01562 | | 53 | .01619 | | 54 | .01679 | | 55 | .01743 | | 56 | .01610 | | 57 | .01881 | | 58 | .01957 | | 59 | .02037 | | 60 | .02121 | | 61 | .02211 | | 62 | .02305 | | 63 | .02406 | | 64 | .02512 | | 65 | .02624 | | 66 | .02743 | | 67 | .02868 | | 68 | .03001 | | 69 | .03142 | | 70 | .03290 | | 71 | .03442 | | 72 | .03606 | | 73 | .03785 | | 74 | .03982 | | 75 | .04201 | | 76 | .04447 | | 77 | .04726 | | 78 | .05043 | | 79 | .05401 | | 80 | .05801 | | 81 | .06241 | | 82 | .06718 | | 83 | .07227 | | 84 | .07761 | | 85 | .08311 | | 86 | .08871 | | 87 | .09439 | | 88 | .10017 | | 89 | .10612 | | 90 | .11236 | | 91 | .11906 | | 92 | .12644 | | 93 | .13477 | | 94 | .14437 | | 95 | .15561 | | 96 | .16892 | | 97 | .18479 | | 98 | .20377 | | 99 | .22648 | | 100 | .25363 | | 101 | .28598 | | 102 | .32446 | | 103 | .37009 | | 104 | .42405 | | 105 | .48770 | | 106 | .56262 | | 107 | .65066 | | 108 | .75400 | | 109 | .87522 | | 110 | 1.00000 |

Table No. 5

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

CLERKS, LABORERS AND BENEFICIARIES — SERVICE PENSIONER'S MORTALITY

(For persons who became members between 4/1/52 — 3/31/66)

| Agex | qx | | --- | --- | | 20 | .00385 | | 21 | .00389 | | 22 | .00393 | | 23 | .00393 | | 24 | .00403 | | 25 | .00408 | | 26 | .00415 | | 27 | .00421 | | 28 | .00429 | | 29 | .00437 | | 30 | .00446 | | 31 | .00455 | | 32 | .00466 | | 33 | .00478 | | 34 | .00490 | | 35 | .00505 | | 36 | .00520 | | 37 | .00537 | | 38 | .00556 | | 39 | .00576 | | 40 | .00598 | | 41 | .00622 | | 42 | .00649 | | 43 | .00678 | | 44 | .00711 | | 45 | .00746 | | 46 | .00784 | | 47 | .00827 | | 48 | .00873 | | 49 | .00924 | | 50 | .00980 | | 51 | .01041 | | 52 | .01107 | | 53 | .01181 | | 54 | .01261 | | 55 | .01349 | | 56 | .01445 | | 57 | .01551 | | 58 | .01666 | | 59 | .01793 | | 60 | .01931 | | 61 | .02083 | | 62 | .02249 | | 63 | .02431 | | 64 | .02630 | | 65 | .02848 | | 66 | .03086 | | 67 | .03346 | | 68 | .03631 | | 69 | .03942 | | 70 | .04283 | | 71 | .04654 | | 72 | .05060 | | 73 | .05503 | | 74 | .05986 | | 75 | .06513 | | 76 | .07088 | | 77 | .07714 | | 78 | .08395 | | 79 | .09136 | | 80 | .09943 | | 81 | .10818 | | 82 | .11768 | | 83 | .12799 | | 84 | .13915 | | 85 | .15121 | | 86 | .16426 | | 87 | .17833 | | 88 | .19348 | | 89 | .20978 | | 90 | .22728 | | 91 | .24000 | | 92 | .26601 | | 93 | .28737 | | 94 | .31008 | | 95 | .33403 | | 96 | .35953 | | 97 | .38616 | | 98 | .41432 | | 99 | .44369 | | 100 | .47406 | | 101 | .50484 | | 102 | .53906 | | 103 | .56780 | | 104 | .60784 | | 105 | .65000 | | 106 | .71429 | | 107 | .74000 | | 108. | 1.00000 |

| | | | --- | --- | | Male Clerks | Age x = Age x on Table 5 | | Female Clerks | Age x = Age x–5 on Table 5 | | Male Laborers | Age x = Age x +2 on Table 5 | | Female Laborers | Age x = Age x–2 on Table 5 | | Male Beneficiaries | Age x = Age x–3 on Table 5 | | Female Beneficiaries | Age x = Age x–7 on Table 5 |

Table No. 6

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Police & Fire Service Pensioners Mortality

(For persons who became members between 4/1/52 – 3/31/66)

| Agex | qx | | --- | --- | | 20 | .00785 | | 21 | .00790 | | 22 | .00796 | | 23 | .00802 | | 24 | .00808 | | 25 | .00815 | | 26 | .00823 | | 27 | .00832 | | 28 | .00841 | | 29 | .00851 | | 30 | .00863 | | 31 | .00875 | | 32 | .00889 | | 33 | .00903 | | 34 | .00920 | | 35 | .00937 | | 36 | .00957 | | 37 | .00978 | | 38 | .01002 | | 39 | .01028 | | 40 | .01056 | | 41 | .01088 | | 42 | .01122 | | 43 | .01158 | | 44 | .01199 | | 45 | .01245 | | 46 | .01294 | | 47 | .01347 | | 48 | .01406 | | 49 | .01471 | | 50 | .01542 | | 51 | .01619 | | 52 | .01704 | | 53 | .01798 | | 54 | .01900 | | 55 | .02011 | | 56 | .02134 | | 57 | .02267 | | 58 | .02414 | | 59 | .02575 | | 60 | .02750 | | 61 | .02943 | | 62 | .03153 | | 63 | .03384 | | 64 | .03635 | | 65 | .03911 | | 66 | .04212 | | 67 | .04541 | | 68 | .04900 | | 69 | .05293 | | 70 | .05722 | | 71 | .06189 | | 72 | .06699 | | 73 | .07255 | | 74 | .07862 | | 75 | .08521 | | 76 | .09240 | | 77 | .10021 | | 78 | .10869 | | 79 | .11791 | | 80 | .12790 | | 81 | .13873 | | 82 | .15045 | | 83 | .16311 | | 84 | .17678 | | 85 | .19151 | | 86 | .20736 | | 87 | .22438 | | 88 | .24263 | | 89 | .26214 | | 90 | .28296 | | 91 | .30510 | | 92 | .32861 | | 93 | .35347 | | 94 | .37966 | | 95 | .40717 | | 96 | .43593 | | 97 | .46587 | | 98 | .49687 | | 99 | .52880 | | 100 | .56148 | | 101 | .60125 | | 102 | .63753 | | 103 | .63050 | | 104 | .72585 | | 105 | .77314 |

Table No. 7

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

MALE CLERKS – DISABILITY PENSIONER MORTALITY

(For persons who became members between 4/1/52 – 3/31/66)

| Agex | qx | | --- | --- | | 20 | .03695 | | 21 | .03617 | | 22 | .03526 | | 23 | .03425 | | 24 | .03318 | | 25 | .03203 | | 26 | .03087 | | 27 | .02973 | | 28 | .02864 | | 29 | .02763 | | 30 | .02674 | | 31 | .02598 | | 32 | .02536 | | 33 | .02488 | | 34 | .02457 | | 35 | .02438 | | 36 | .02429 | | 37 | .02430 | | 38 | .02440 | | 39 | .02456 | | 40 | .02475 | | 41 | .02502 | | 42 | .02528 | | 43 | .02559 | | 44 | .02595 | | 45 | .02632 | | 46 | .02674 | | 47 | .02719 | | 48 | .02770 | | 49 | .02825 | | 50 | .02885 | | 51 | .02950 | | 52 | .03024 | | 53 | .03102 | | 54 | .03189 | | 55 | .03285 | | 56 | .03388 | | 57 | .03503 | | 58 | .03628 | | 59 | .03764 | | 60 | .03914 | | 61 | .04078 | | 62 | .04258 | | 63 | .04452 | | 64 | .04670 | | 65 | .04902 | | 66 | .05160 | | 67 | .05444 | | 68 | .05747 | | 69 | .06084 | | 70 | .06450 | | 71 | .06849 | | 72 | .07287 | | 73 | .07767 | | 74 | .08286 | | 75 | .08847 | | 76 | .09470 | | 77 | .10143 | | 78 | .10872 | | 79 | .11668 | | 80 | .12528 | | 81 | .13462 | | 82 | .14490 | | 83 | .15575 | | 84 | .16776 | | 85 | .18069 | | 86 | .19432 | | 87 | .20955 | | 88 | .22545 | | 89 | .24281 | | 90 | .26079 | | 91 | .28110 | | 92 | .30183 | | 93 | .32437 | | 94 | .34780 | | 95 | .37298 | | 96 | .39925 | | 97 | .42681 | | 98 | .45567 | | 99 | .48559 | | 100 | .51648 | | 101 | .54826 | | 102 | .58069 | | 103 | .61314 |

Table No. 8

Female Clerks & Laborers Disability Pensioners Mortality

(For persons who became members between 4/1/52 – 3/31/66)

| Agex | qx | | --- | --- | | 20 | .05050 | | 21 | .05136 | | 22 | .05209 | | 23 | .05258 | | 24 | .05283 | | 25 | .05276 | | 26 | .05236 | | 27 | .05156 | | 28 | .05034 | | 29 | .04872 | | 30 | .04667 | | 31 | .04427 | | 32 | .04156 | | 33 | .03867 | | 34 | .03564 | | 35 | .03265 | | 36 | .02978 | | 37 | .02719 | | 38 | .02492 | | 39 | .02303 | | 40 | .02154 | | 41 | .02045 | | 42 | .01970 | | 43 | .01927 | | 44 | .01910 | | 45 | .01913 | | 46 | .01928 | | 47 | .01953 | | 48 | .01992 | | 49 | .02027 | | 50 | .02074 | | 51 | .02127 | | 52 | .02184 | | 53 | .02244 | | 54 | .02311 | | 55 | .02389 | | 56 | .02466 | | 57 | .02557 | | 58 | .02657 | | 59 | .02763 | | 60 | .02879 | | 61 | .03007 | | 62 | .03151 | | 63 | .03303 | | 64 | .03470 | | 65 | .03655 | | 66 | .03857 | | 67 | .04081 | | 68 | .04319 | | 69 | .04585 | | 70 | .04875 | | 71 | .05187 | | 72 | .05532 | | 73 | .05914 | | 74 | .06323 | | 75 | .06770 | | 76 | .07261 | | 77 | .07791 | | 78 | .08383 | | 79 | .09005 | | 80 | .09707 | | 81 | .10453 | | 82 | .11266 | | 83 | .12154 | | 84 | .13125 | | 85 | .14161 | | 86 | .15288 | | 87 | .16496 | | 88 | .17836 | | 89 | .19227 | | 90 | .20777 | | 91 | .22406 | | 92 | .24173 | | 93 | .26066 | | 94 | .28178 | | 95 | .30109 | | 96 | .32637 | | 97 | .34884 | | 98 | .37500 | | 99 | .40000 | | 100 | .42857 | | 101 | .47222 | | 102 | .47368 | | 103 | .50000 | | 104 | .60000 | | 105 | 1.00000 |

Table No. 9

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Male Laborers Disability Pensioners Mortality

(For persons who became members between 4/1/52 – 3/31/66)

| Agex | qx | | --- | --- | | 20 | .06096 | | 21 | .06086 | | 22 | .05718 | | 23 | .05122 | | 24 | .04470 | | 25 | .03911 | | 26 | .03521 | | 27 | .03294 | | 28 | .03187 | | 29 | .03150 | | 30 | .03145 | | 31 | .03151 | | 32 | .03162 | | 33 | .03176 | | 34 | .03191 | | 35 | .03208 | | 36 | .03226 | | 37 | .03246 | | 38 | .03267 | | 39 | .03292 | | 40 | .03317 | | 41 | .03346 | | 42 | .03377 | | 43 | .03412 | | 44 | .03449 | | 45 | .03491 | | 46 | .03536 | | 47 | .03586 | | 48 | .03640 | | 49 | .03700 | | 50 | .03764 | | 51 | .03838 | | 52 | .03915 | | 53 | .04001 | | 54 | .04095 | | 55 | .04198 | | 56 | .04312 | | 57 | .04435 | | 58 | .04571 | | 59 | .04720 | | 60 | .04881 | | 61 | .05059 | | 62 | .05253 | | 63 | .05466 | | 64 | .05700 | | 65 | .05952 | | 66 | .06233 | | 67 | .06536 | | 68 | .06866 | | 69 | .07232 | | 70 | .07629 | | 71 | .08061 | | 72 | .08532 | | 73 | .09045 | | 74 | .09610 | | 75 | .10224 | | 76 | .10884 | | 77 | .11615 | | 78 | .12393 | | 79 | .13261 | | 80 | .14172 | | 81 | .15198 | | 82 | .16275 | | 83 | .17452 | | 84 | .18735 | | 85 | .20093 | | 86 | .21584 | | 87 | .23170 | | 88 | .24910 | | 89 | .26707 | | 90 | .28668 | | 91 | .30742 | | 92 | .32964 | | 93 | .35308 | | 94 | .37801 | | 95 | .40395 | | 96 | .43129 | | 97 | .45997 | | 98 | .48922 | | 99 | .52032 | | 100 | .55171 | | 101 | .58364 | | 102 | .65000 |

Table No. 10

Police & Fire Disability Pensioners Mortality

(For persons who became members between 4/1/52 – 3/31/66)

| Agex | qx | | --- | --- | | 20 | .05050 | | 21 | .05136 | | 22 | .05209 | | 23 | .05258 | | 24 | .05283 | | 25 | .05276 | | 26 | .05236 | | 27 | .05156 | | 28 | .05034 | | 29 | .04872 | | 30 | .04667 | | 31 | .04427 | | 32 | .04156 | | 33 | .03867 | | 34 | .03564 | | 35 | .03265 | | 36 | .02978 | | 37 | .02719 | | 38 | .02492 | | 39 | .02303 | | 40 | .02154 | | 41 | .02045 | | 42 | .01970 | | 43 | .01927 | | 44 | .01910 | | 45 | .01913 | | 46 | .01928 | | 47 | .01953 | | 48 | .01992 | | 49 | .02027 | | 50 | .02074 | | 51 | .02127 | | 52 | .02184 | | 53 | .02244 | | 54 | .02311 | | 55 | .02389 | | 56 | .02466 | | 57 | .02557 | | 58 | .02657 | | 59 | .02763 | | 60 | .02879 | | 61 | .03007 | | 62 | .03151 | | 63 | .03303 | | 64 | .03470 | | 65 | .03655 | | 66 | .03857 | | 67 | .04081 | | 68 | .04319 | | 69 | .04585 | | 70 | .04875 | | 71 | .05187 | | 72 | .05532 | | 73 | .05914 | | 74 | .06323 | | 75 | .06770 | | 76 | .07261 | | 77 | .07791 | | 78 | .08383 | | 79 | .09005 | | 80 | .09707 | | 81 | .10453 | | 82 | .11266 | | 83 | .12154 | | 84 | .13125 | | 85 | .14161 | | 86 | .15288 | | 87 | .16496 | | 88 | .17836 | | 89 | .19227 | | 90 | .20777 | | 91 | .22406 | | 92 | .24173 | | 93 | .26066 | | 94 | .28178 | | 95 | .30109 | | 96 | .32637 | | 97 | .34884 | | 98 | .37500 | | 99 | .40000 | | 100 | .42857 | | 101 | .47222 | | 102 | .47368 | | 103 | .50000 | | 104 | .60000 | | 105 | 1.00000 |

Table No. 11

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

MALE CLERKS – SERVICE PENSIONERS MORTALITY

(For persons who became members between 1/1/21 & 3/31/52)

| Agex | qx | | --- | --- | | 20 | .00785 | | 21 | .00790 | | 22 | .00796 | | 23 | .00802 | | 24 | .00808 | | 25 | .00815 | | 26 | .00823 | | 27 | .00832 | | 28 | .00841 | | 29 | .00851 | | 30 | .00863 | | 31 | .00875 | | 32 | .00889 | | 33 | .00903 | | 34 | .00920 | | 35 | .00937 | | 36 | .00957 | | 37 | .00978 | | 38 | .01002 | | 39 | .01028 | | 40 | .01056 | | 41 | .01088 | | 42 | .01122 | | 43 | .01158 | | 44 | .01199 | | 45 | .01245 | | 46 | .01294 | | 47 | .01347 | | 48 | .01406 | | 49 | .01471 | | 50 | .01542 | | 51 | .01619 | | 52 | .01704 | | 53 | .01798 | | 54 | .01900 | | 55 | .02011 | | 56 | .02134 | | 57 | .02267 | | 58 | .02414 | | 59 | .02575 | | 60 | .02750 | | 61 | .02943 | | 62 | .03153 | | 63 | .03384 | | 64 | .03635 | | 65 | .03911 | | 66 | .04212 | | 67 | .04541 | | 68 | .04900 | | 69 | .05293 | | 70 | .05722 | | 71 | .06189 | | 72 | .06699 | | 73 | .07255 | | 74 | .07862 | | 75 | .08521 | | 76 | .09240 | | 77 | .10021 | | 78 | .10869 | | 79 | .11791 | | 80 | .12790 | | 81 | .13873 | | 82 | .15045 | | 83 | .16311 | | 84 | .17678 | | 85 | .19151 | | 86 | .20736 | | 87 | .22438 | | 88 | .24263 | | 89 | .26214 | | 90 | .28296 | | 91 | .30510 | | 92 | .32861 | | 93 | .35347 | | 94 | .37966 | | 95 | .40717 | | 96 | .43593 | | 97 | .46587 | | 98 | .49687 | | 99 | .52880 | | 100 | .56148 | | 101 | .60125 | | 102 | .63753 | | 103 | .68050 | | 104 | .72585 | | 105 | .77314 |

Table No. 12

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

FEMALE CLERKS – SERVICE PENSIONERS MORTALITY

(For persons who became members between 1/1/21 & 3/31/52)

| Agex | qx | | --- | --- | | 20 | .00384 | | 21 | .00388 | | 22 | .00392 | | 23 | .00396 | | 24 | .00401 | | 25 | .00407 | | 26 | .00412 | | 27 | .00419 | | 28 | .00426 | | 29 | .00434 | | 30 | .00443 | | 31 | .00452 | | 32 | .00462 | | 33 | .00474 | | 34 | .00486 | | 35 | .00500 | | 36 | .00515 | | 37 | .00531 | | 38 | .00549 | | 39 | .00569 | | 40 | .00590 | | 41 | .00614 | | 42 | .00640 | | 43 | .00668 | | 44 | .00700 | | 45 | .00734 | | 46 | .00771 | | 47 | .00812 | | 48 | .00857 | | 49 | .00906 | | 50 | .00960 | | 51 | .01020 | | 52 | .01085 | | 53 | .01156 | | 54 | .01234 | | 55 | .01319 | | 56 | .01412 | | 57 | .01515 | | 58 | .01627 | | 59 | .01750 | | 60 | .01884 | | 61 | .02031 | | 62 | .02193 | | 63 | .02369 | | 64 | .02562 | | 65 | .02773 | | 66 | .03005 | | 67 | .03257 | | 68 | .03534 | | 69 | .03836 | | 70 | .04166 | | 71 | .04527 | | 72 | .04921 | | 73 | .05352 | | 74 | .05821 | | 75 | .06334 | | 76 | .06891 | | 77 | .07500 | | 78 | .08163 | | 79 | .08884 | | 80 | .09668 | | 81 | .10520 | | 82 | .11445 | | 83 | .12448 | | 84 | .13535 | | 85 | .14711 | | 86 | .15983 | | 87 | .17335 | | 88 | .18834 | | 89 | .20425 | | 90 | .22134 | | 91 | .23966 | | 92 | .25924 | | 93 | .28014 | | 94 | .30238 | | 95 | .32598 | | 96 | .35093 | | 97 | .37723 | | 98 | .40485 | | 99 | .43372 |

Table No. 13

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Male Laborer – Service Pensioners Mortality

(For persons who became members between 1/1/21 & 3/31/52)

| Agex | qx | | --- | --- | | 40 | .00721 | | 41 | .00759 | | 42 | .00804 | | 43 | .00845 | | 44 | .00887 | | 45 | .00945 | | 46 | .00999 | | 47 | .01069 | | 48 | .01128 | | 49 | .01213 | | 50 | .01294 | | 51 | .01387 | | 52 | .01486 | | 53 | .01589 | | 54 | .01716 | | 55 | .01832 | | 56 | .01991 | | 57 | .02141 | | 58 | .02320 | | 59 | .02491 | | 60 | .02708 | | 61 | .02932 | | 62 | .03177 | | 63 | .03447 | | 64 | .03742 | | 65 | .04062 | | 66 | .04415 | | 67 | .04796 | | 68 | .05216 | | 69 | .05672 | | 70 | .06172 | | 71 | .06716 | | 72 | .07306 | | 73 | .07956 | | 74 | .08654 | | 75 | .09421 | | 76 | .10249 | | 77 | .11153 | | 78 | .12131 | | 79 | .13194 | | 80 | .14336 | | 81 | .15582 | | 82 | .16920 | | 83 | .18376 | | 84 | .19921 | | 85 | .21587 | | 86 | .23401 | | 87 | .25308 | | 88 | .27333 | | 89 | .29574 | | 90 | .31877 | | 91 | .34277 | | 92 | .36900 | | 93 | .39622 | | 94 | .42471 | | 95 | .45440 | | 96 | .48519 | | 97 | .51710 | | 98 | .54980 | | 99 | .58312 | | 100 | .61656 | | 101 | .65000 |

Table No. 14

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Female Laborers – Service Pensioners Mortality

(For persons who became members between 1/1/21 & 3/31/52)

| Agex | qx | | --- | --- | | 40 | .01307 | | 41 | .01330 | | 42 | .01368 | | 43 | .01387 | | 44 | .01441 | | 45 | .01470 | | 46 | .01514 | | 47 | .01561 | | 48 | .01617 | | 49 | .01660 | | 50 | .01729 | | 51 | .01802 | | 52 | .01870 | | 53 | .01941 | | 54 | .02033 | | 55 | .02138 | | 56 | .02241 | | 57 | .02349 | | 58 | .02491 | | 59 | .02613 | | 60 | .02774 | | 61 | .02941 | | 62 | .03123 | | 63 | .03323 | | 64 | .03540 | | 65 | .03780 | | 66 | .04041 | | 67 | .04326 | | 68 | .04640 | | 69 | .04978 | | 70 | .05353 | | 71 | .05759 | | 72 | .06202 | | 73 | .06689 | | 74 | .07217 | | 75 | .07789 | | 76 | .08420 | | 77 | .09103 | | 78 | .09844 | | 79 | .10654 | | 80 | .11531 | | 81 | .12485 | | 82 | .13515 | | 83 | .14630 | | 84 | .15840 | | 85 | .17148 | | 86 | .18557 | | 87 | .20073 | | 88 | .21704 | | 89 | .23453 | | 90 | .25331 | | 91 | .27330 | | 92 | .29461 | | 93 | .31734 | | 94 | .34135 | | 95 | .36673 | | 96 | .39342 | | 97 | .42141 | | 98 | .45060 | | 99 | .48094 | | 100 | .51226 | | 101 | .54358 |

Table No. 15

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Policemen – Service Pensioners Mortality

(For persons who became members between 1/1/21 & 6/30/43) Police & Firemen 6/30/43 & 3/31/52

| Agex | qx | | --- | --- | | 40 | .02602 | | 41 | .02647 | | 42 | .02672 | | 43 | .02715 | | 44 | .02759 | | 45 | .02815 | | 46 | .02857 | | 47 | .02918 | | 48 | .02983 | | 49 | .03051 | | 50 | .03123 | | 51 | .03200 | | 52 | .03299 | | 53 | .03395 | | 54 | .03506 | | 55 | .03623 | | 56 | .03757 | | 57 | .03899 | | 58 | .04050 | | 59 | .04222 | | 60 | .04412 | | 61 | .04617 | | 62 | .04841 | | 63 | .05086 | | 64 | .05354 | | 65 | .05647 | | 66 | .05967 | | 67 | .06317 | | 68 | .06699 | | 69 | .07115 | | 70 | .07571 | | 71 | .08067 | | 72 | .08609 | | 73 | .09198 | | 74 | .09840 | | 75 | .10540 | | 76 | .11300 | | 77 | .12125 | | 78 | .13023 | | 79 | .13998 | | 80 | .15049 | | 81 | .16193 | | 82 | .17426 | | 83 | .18762 | | 84 | .20192 | | 85 | .21743 | | 86 | .23400 | | 87 | .25180 | | 88 | .27088 | | 89 | .29113 | | 90 | .31273 | | 91 | .33575 | | 92 | .36030 | | 93 | .38544 | | 94 | .41258 | | 95 | .44072 | | 96 | .47006 | | 97 | .50042 | | 98 | .53171 | | 99 | .56396 | | 100 | .59655 | | 101 | .62948 | | 102 | .66275 |

Table No. 16

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Firemen – Service Pensioners Mortality

(For persons who became members between 1/1/21 & 6/30/43)

| Agex | qx | | --- | --- | | 40 | .01761 | | 41 | .01802 | | 42 | .01852 | | 43 | .01897 | | 44 | .01960 | | 45 | .02019 | | 46 | .02080 | | 47 | .02152 | | 48 | .02229 | | 49 | .02318 | | 50 | .02412 | | 51 | .02520 | | 52 | .02624 | | 53 | .02754 | | 54 | .02891 | | 55 | .03045 | | 56 | .03200 | | 57 | .03374 | | 58 | .03590 | | 59 | .03789 | | 60 | .04024 | | 61 | .04280 | | 62 | .04560 | | 63 | .04866 | | 64 | .05200 | | 65 | .05565 | | 66 | .05964 | | 67 | .06399 | | 68 | .06874 | | 69 | .07392 | | 70 | .07957 | | 71 | .08572 | | 72 | .09241 | | 73 | .09970 | | 74 | .10763 | | 75 | .11623 | | 76 | .12558 | | 77 | .13571 | | 78 | .14668 | | 79 | .15855 | | 80 | .17138 | | 81 | .18522 | | 82 | .20013 | | 83 | .21616 | | 84 | .23337 | | 85 | .25181 | | 86 | .27152 | | 87 | .29254 | | 88 | .31488 | | 89 | .33857 | | 90 | .36361 | | 91 | .38997 | | 92 | .41763 | | 93 | .44651 | | 94 | .47653 | | 95 | .50759 | | 96 | .53957 |

Table No. 17

MALE CLERKS – DISABILITY

(For persons who became members between 1/1/21 and 3/17/36)

| Agex | qx | | --- | --- | | 20 | .10686 | | 21 | .10643 | | 22 | .10616 | | 23 | .10552 | | 24 | .10502 | | 25 | .10436 | | 26 | .10347 | | 27 | .10242 | | 28 | .10151 | | 29 | .10022 | | 30 | .09890 | | 31 | .09757 | | 32 | .09603 | | 33 | .09432 | | 34 | .09288 | | 35 | .09134 | | 36 | .08989 | | 37 | .08846 | | 38 | .08721 | | 39 | .08625 | | 40 | .08546 | | 41 | .08501 | | 42 | .08474 | | 43 | .08488 | | 44 | .08542 | | 45 | .06620 | | 46 | .08729 | | 47 | .08865 | | 48 | .09920 | | 49 | .09194 | | 50 | .09374 | | 51 | .09559 | | 52 | .09740 | | 53 | .09910 | | 54 | .10072 | | 55 | .10216 | | 56 | .10346 | | 57 | .10460 | | 58 | .10561 | | 59 | .10651 | | 60 | .10719 | | 61 | .10839 | | 62 | .10975 | | 63 | .11008 | | 64 | .11104 | | 65 | .11209 | | 66 | .11325 | | 67 | .11446 | | 68 | .11587 | | 69 | .11738 | | 70 | .11904 | | 71 | .12085 | | 72 | .12283 | | 73 | .12499 | | 74 | .12737 | | 75 | .12995 | | 76 | .13280 | | 77 | .13589 | | 78 | .13930 | | 79 | .14292 | | 80 | .14700 | | 81 | .15143 | | 82 | .15618 | | 83 | .16142 | | 84 | .16711 | | 85 | .17331 | | 86 | .18006 | | 87 | .18738 | | 88 | .19538 | | 89 | .20399 | | 90 | .21339 | | 91 | .22348 | | 92 | .23454 |

Table No. 18

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Female Clerks – Disability Pensioners Mortality

(For persons who became members between 1/1/21 & 3/17/36)

| Age x | qx | | --- | --- | | 20 | .09735 | | 21 | .09845 | | 22 | .09927 | | 23 | .09972 | | 24 | .09973 | | 25 | .09921 | | 26 | .09810 | | 27 | .09637 | | 28 | .09391 | | 29 | .09082 | | 30 | .06713 | | 31 | .08289 | | 32 | .07836 | | 33 | .07365 | | 34 | .06903 | | 35 | .06461 | | 36 | .06071 | | 37 | .05731 | | 38 | .05458 | | 39 | .05245 | | 40 | .05092 | | 41 | .04997 | | 42 | .04943 | | 43 | .04913 | | 44 | .04919 | | 45 | .04938 | | 46 | .04981 | | 47 | .05010 | | 48 | .05059 | | 49 | .05118 | | 50 | .05181 | | 51 | .05247 | | 52 | .05327 | | 53 | .05404 | | 54 | .05488 | | 55 | .05590 | | 56 | .05692 | | 57 | .05817 | | 58 | .05932 | | 59 | .06086 | | 60 | .06233 | | 61 | .06398 | | 62 | .06586 | | 63 | .06783 | | 64 | .06990 | | 65 | .07249 | | 66 | .07505 | | 67 | .07803 | | 68 | .08100 | | 69 | .08446 | | 70 | .08824 | | 71 | .09239 | | 72 | .09657 | | 73 | .10194 | | 74 | .10662 | | 75 | .11265 | | 76 | .11942 | | 77 | .12574 | | 78 | .13328 | | 79 | .14136 | | 80 | .15026 | | 81 | .15968 | | 82 | .17004 | | 83 | .18132 | | 84 | .19333 | | 85 | .20631 | | 86 | .22052 | | 87 | .23569 | | 88 | .25150 | | 89 | .26954 | | 90 | .28790 | | 91 | .30782 | | 92 | .32907 | | 93 | .35138 | | 94 | .37529 | | 95 | .40030 | | 96 | .42671 | | 97 | .45409 | | 98 | .48310 | | 99 | .55020 |

Table No. 19

MALE LABORERS – DISABILITY

(For persons who became members between 1/1/21 and 3/17/36)

| Agex | qx | | --- | --- | | 20 | .20131 | | 21 | .20110 | | 22 | .20086 | | 23 | .20056 | | 24 | .20019 | | 25 | .19976 | | 26 | .19924 | | 27 | .19863 | | 28 | .19791 | | 29 | .19707 | | 30 | .19608 | | 31 | .19494 | | 32 | .19362 | | 33 | .19210 | | 34 | .19036 | | 35 | .18841 | | 36 | .18616 | | 37 | .18369 | | 38 | .18097 | | 39 | .17790 | | 40 | .17465 | | 41 | .17108 | | 42 | .16727 | | 43 | .16330 | | 44 | .15911 | | 45 | .15501 | | 46 | .15057 | | 47 | .14650 | | 48 | .14210 | | 49 | .13826 | | 50 | .13427 | | 51 | .13086 | | 52 | .12772 | | 53 | .12481 | | 54 | .12243 | | 55 | .12049 | | 56 | .11942 | | 57 | .11822 | | 58 | .11724 | | 59 | .11769 | | 60 | .11773 | | 61 | .11825 | | 62 | .11992 | | 63 | .12244 | | 64 | .12452 | | 65 | .12636 | | 66 | .13070 | | 67 | .13393 | | 68 | .13870 | | 69 | .14179 | | 70 | .14715 | | 71 | .15306 | | 72 | .15934 | | 73 | .16747 | | 74 | .17233 | | 75 | .18176 | | 76 | .19098 | | 77 | .20019 | | 78 | .21058 | | 79 | .22176 | | 80 | .23400 | | 81 | .24707 | | 82 | .26095 | | 83 | .27624 | | 84 | .29216 | | 85 | .30980 | | 86 | .32927 | | 87 | .34807 | | 88 | .36912 | | 89 | .39126 |

Table No. 20

FEMALE LABORERS – DISABILITY

(For persons who become members between 1/1/21 & 3/17/36)

| Agex | qx | | --- | --- | | 20 | .19974 | | 21 | .19752 | | 22 | .19666 | | 23 | .19554 | | 24 | .19409 | | 25 | .19222 | | 26 | .18997 | | 27 | .18723 | | 28 | .18390 | | 29 | .18010 | | 30 | .17561 | | 31 | .17055 | | 32 | .16504 | | 33 | .15896 | | 34 | .15262 | | 35 | .14586 | | 36 | .13916 | | 37 | .13225 | | 38 | .12618 | | 39 | .11976 | | 40 | .11451 | | 41 | .10934 | | 42 | .10522 | | 43 | .10119 | | 44 | .09888 | | 45 | .09623 | | 46 | .09402 | | 47 | .09278 | | 48 | .09242 | | 49 | .09098 | | 50 | .09017 | | 51 | .09184 | | 52 | .09035 | | 53 | .09065 | | 54 | .09096 | | 55 | .09119 | | 56 | .09156 | | 57 | .09202 | | 58 | .09227 | | 59 | .09296 | | 60 | .09339 | | 61 | .09403 | | 62 | .09446 | | 63 | .09530 | | 64 | .09609 | | 65 | .09685 | | 66 | .09765 | | 67 | .09855 | | 68 | .09968 | | 69 | .10119 | | 70 | .10199 | | 71 | .10324 | | 72 | .10526 | | 73 | .10689 | | 74 | .10668 | | 75 | .11061 | | 76 | .11294 | | 77 | .11518 | | 78 | .11793 | | 79 | .12076 | | 80 | .12391 | | 81 | .12731 | | 82 | .13110 | | 83 | .13515 | | 84 | .13957 | | 85 | .14452 | | 86 | .14977 | | 87 | .15540 | | 88 | .16222 | | 89 | .16857 | | 90 | .17613 | | 91 | .18429 | | 92 | .19307 | | 93 | .20245 | | 94 | .21282 | | 95 | .22387 | | 96 | .23617 | | 97 | .24875 | | 98 | .26330 | | 99 | .27785 |

Table No. 21

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

FIREMEN – DISABILILTY PENSIONS MORTALITY

(For persons who became members between 1/1/21 & 3/17/36)

| Agex | qx | | --- | --- | | 20 | .28298 | | 21 | .27959 | | 22 | .27513 | | 23 | .26937 | | 24 | .26197 | | 25 | .25289 | | 26 | .24176 | | 27 | .22860 | | 28 | .21355 | | 29 | .19703 | | 30 | .17954 | | 31 | .16188 | | 32 | .14487 | | 33 | .12906 | | 34 | .11498 | | 35 | .10284 | | 36 | .09292 | | 37 | .08477 | | 38 | .07843 | | 39 | .07345 | | 40 | .06955 | | 41 | .06690 | | 42 | .06481 | | 43 | .06330 | | 44 | .06225 | | 45 | .06155 | | 46 | .06135 | | 47 | 06100 | | 48 | .06118 | | 49 | .06114 | | 50 | .06142 | | 51 | .06190 | | 52 | .06222 | | 53 | .06257 | | 54 | .06373 | | 55 | .06403 | | 56 | .06467 | | 57 | .06546 | | 58 | .06643 | | 59 | .06728 | | 60 | .06873 | | 61 | .06975 | | 62 | .07105 | | 63 | .07274 | | 64 | .07389 | | 65 | .07596 | | 66 | .07806 | | 67 | .07954 | | 68 | .08223 | | 69 | .08504 | | 70 | .08714 | | 71 | .09000 | | 72 | .09381 | | 73 | .09712 | | 74 | .10110 | | 75 | .10527 | | 76 | .10991 | | 77 | .11479 | | 78 | .12042 | | 79 | .12640 | | 80 | .13290 | | 81 | .14025 | | 82 | .14766 | | 83 | .15588 | | 84 | .16550 | | 85 | .17479 | | 86 | .18601 | | 87 | .19691 | | 88 | .20968 | | 89 | .22313 | | 90 | .23765 | | 91 | .25316 | | 92 | .26976 | | 93 | .28763 | | 94 | .30668 | | 95 | .32743 | | 96 | .34881 | | 97 | .37164 | | 98 | .39599 | | 99 | .42121 | | 100 | .44863 |

Table No. 22

POLICEMEN – DISABILITY

(For persons who became members between 1/2/21 & 3/17/36)

| Agex | qx | | --- | --- | | 20 | .16931 | | 21 | .16796 | | 22 | .16624 | | 23 | .16403 | | 24 | .16133 | | 25 | .15800 | | 26 | .15401 | | 27 | .14930 | | 28 | .14385 | | 29 | .13763 | | 30 | .13076 | | 31 | .12315 | | 32 | .11503 | | 33 | .10659 | | 34 | .09791 | | 35 | .08946 | | 36 | .08116 | | 37 | .07344 | | 38 | .06621 | | 39 | .05979 | | 40 | .05408 | | 41 | .04953 | | 42 | .04539 | | 43 | .04206 | | 44 | .03971 | | 45 | .03775 | | 46 | .03639 | | 47 | .03549 | | 48 | .03492 | | 49 | .03475 | | 50 | .03477 | | 51 | .03506 | | 52 | .03549 | | 53 | .03610 | | 54 | .03681 | | 55 | .03767 | | 56 | .03863 | | 57 | .03966 | | 58 | .04084 | | 59 | .04213 | | 60 | .04352 | | 61 | .04510 | | 62 | .04681 | | 63 | .04863 | | 64 | .05065 | | 65 | .05292 | | 66 | .05531 | | 67 | .05801 | | 68 | .06088 | | 69 | .06408 | | 70 | .06752 | | 71 | .07132 | | 72 | .07546 | | 73 | .07999 | | 74 | .08497 | | 75 | .09027 | | 76 | .09615 | | 77 | .10245 | | 78 | .10947 | | 79 | .11703 | | 80 | .12512 | | 81 | .13410 | | 82 | .14384 | | 83 | .15426 | | 84 | .16548 | | 85 | .17802 | | 86 | .19092 | | 87 | .20549 | | 88 | .22026 | | 89 | .23730 | | 90 | .25474 | | 91 | .27377 | | 92 | .29399 | | 93 | .31510 | | 94 | .33826 | | 95 | .36237 | | 96 | .38775 | | 97 | .41458 | | 98 | .44245 | | 99 | .47093 |

Table No. 23

MALE CLERKS – DISABILITY

(For persons who became members between 3/18/36 and 3/31/52)

| Agex | qx | | --- | --- | | 20 | .09735 | | 21 | .09845 | | 22 | .09927 | | 23 | .09972 | | 24 | .09973 | | 25 | .09921 | | 26 | .09810 | | 27 | .09637 | | 28 | .09391 | | 29 | .09082 | | 30 | .08713 | | 31 | .08289 | | 32 | .07836 | | 33 | .07365 | | 34 | .06903 | | 35 | .06461 | | 36 | .06071 | | 37 | .05731 | | 38 | .05458 | | 39 | .05245 | | 40 | .05092 | | 41 | .04997 | | 42 | .04943 | | 43 | .04913 | | 44 | .04919 | | 45 | .04938 | | 46 | .04981 | | 47 | .05010 | | 48 | .05059 | | 49 | .05118 | | 50 | .05181 | | 51 | .05247 | | 52 | .05327 | | 53 | .05404 | | 54 | .05488 | | 55 | .05590 | | 56 | .05692 | | 57 | .05817 | | 58 | .05932 | | 59 | .06086 | | 60 | .06233 | | 61 | .06398 | | 62 | .06586 | | 63 | .06783 | | 64 | .06990 | | 65 | .07249 | | 66 | .07505 | | 67 | .07803 | | 68 | .08100 | | 69 | .08446 | | 70 | .08824 | | 71 | .09239 | | 72 | .09657 | | 73 | .10194 | | 74 | .10662 | | 75 | .11265 | | 76 | .11942 | | 77 | .12574 | | 78 | .13328 | | 79 | .14136 | | 80 | .15026 | | 81 | .15968 | | 82 | .17004 | | 83 | .18132 | | 84 | .19333 | | 85 | .20631 | | 86 | .22052 | | 87 | .23569 | | 88 | .25150 | | 89 | .26954 | | 90 | .28790 | | 91 | .30782 | | 92 | .32907 | | 93 | .35138 | | 94 | .37529 | | 95 | .40030 | | 96 | .42671 | | 97 | .45409 | | 98 | .48310 | | 99 | .55020 |

Table No. 24

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

FEMALE CLERK DISABILITY PENSIONERS

(For persons who became members between 3/18/36 – 3/31/52)

| Agex | qx | | --- | --- | | 20 | .03695 | | 21 | .03617 | | 22 | .03526 | | 23 | .03425 | | 24 | .03318 | | 25 | .03203 | | 26 | .03087 | | 27 | .02973 | | 28 | .02864 | | 29 | .02763 | | 30 | .02674 | | 31 | .62598 | | 32 | .02536 | | 33 | .02488 | | 34 | .02457 | | 35 | .02438 | | 36 | .02429 | | 37 | .02430 | | 38 | .02440 | | 39 | .02456 | | 40 | .02475 | | 41 | .02502 | | 42 | .02528 | | 43 | .02559 | | 44 | .02595 | | 45 | .02632 | | 46 | .02674 | | 47 | .02719 | | 48 | .02770 | | 49 | .02825 | | 50 | .02885 | | 51 | .02950 | | 52 | .03024 | | 53 | .03102 | | 54 | .03189 | | 55 | .03285 | | 56 | .03388 | | 57 | .03503 | | 58 | .03628 | | 59 | .03764 | | 60 | .03914 | | 61 | .04078 | | 62 | .04258 | | 63 | .04452 | | 64 | .04670 | | 65 | .04902 | | 66 | .05160 | | 67 | .05444 | | 68 | .05747 | | 69 | .06084 | | 70 | .06450 | | 71 | .06849 | | 72 | .07287 | | 73 | .07767 | | 74 | .08286 | | 75 | .08847 | | 76 | .09470 | | 77 | .10143 | | 78 | .10872 | | 79 | .11668 | | 80 | .12528 | | 81 | .13462 | | 82 | .14490 | | 83 | .15575 | | 84 | .16776 | | 85 | .18069 | | 86 | .19432 | | 87 | .20955 | | 88 | .22545 | | 89 | .24281 | | 90 | .26079 | | 91 | .28110 | | 92 | .30183 | | 93 | .32437 | | 94 | .34780 | | 95 | .37298 | | 96 | .39925 | | 97 | .42681 | | 98 | .45567 | | 99 | .48559 | | 100 | .51648 | | 101 | .54826 | | 102 | .58069 | | 103 | .61314 |

Table No. 25

MALE LABORERS – DISABILITY

(For persons who became members between 3/18/36 and 3/31/52)

| Agex | qx | | --- | --- | | 20 | .28298 | | 21 | .27959 | | 22 | .27513 | | 23 | .26937 | | 24 | .26197 | | 25 | .25238 | | 26 | .24176 | | 27 | .22860 | | 28 | .21355 | | 29 | .19703 | | 30 | .17954 | | 31 | .16188 | | 32 | .14487 | | 33 | .12906 | | 34 | .11498 | | 35 | .10284 | | 36 | .09292 | | 37 | .08477 | | 38 | .07843 | | 39 | .07345 | | 40 | .06955 | | 41 | .06690 | | 42 | .06481 | | 43 | .06330 | | 44 | .06225 | | 45 | .06155 | | 46 | .06135 | | 47 | .06100 | | 48 | .06118 | | 49 | .06114 | | 50 | .06142 | | 51 | .06190 | | 52 | .06222 | | 53 | .06257 | | 54 | .06373 | | 55 | .06403 | | 56 | .06467 | | 57 | .06546 | | 58 | .06643 | | 59 | .06728 | | 60 | .06873 | | 61 | .06975 | | 62 | .07105 | | 63 | .07274 | | 64 | .07389 | | 65 | .07596 | | 66 | .07806 | | 67 | .07954 | | 68 | .08223 | | 69 | .08504 | | 70 | .08714 | | 71 | .09000 | | 72 | .09381 | | 73 | .09712 | | 74 | .10110 | | 75 | .10527 | | 76 | .10991 | | 77 | .11479 | | 78 | .12042 | | 79 | .12640 | | 80 | .13290 | | 81 | .14025 | | 82 | .14766 | | 83 | .15588 | | 84 | .16550 | | 85 | .17479 | | 86 | .18601 | | 87 | .19691 | | 88 | .20968 | | 89 | .22313 | | 90 | .23765 | | 91 | .25316 | | 92 | .26976 | | 93 | .28763 | | 94 | .30668 | | 95 | .32743 | | 96 | .34881 | | 97 | .37164 | | 98 | .39599 | | 99 | .42121 | | 100 | .44863 |

Table No. 26

FEMALE LABORER – DISABILITY

(For persons who became members between 3/18/36 and 3/31/52)

| Agex | qx | | --- | --- | | 20 | .28976 | | 21 | .28885 | | 22 | .28747 | | 23 | .28541 | | 24 | .28298 | | 25 | .27959 | | 26 | .27513 | | 27 | .26937 | | 28 | .26197 | | 29 | .25289 | | 30 | .24176 | | 31 | .22860 | | 32 | .21355 | | 33 | .19703 | | 34 | .17954 | | 35 | .16188 | | 36 | .14487 | | 37 | .12906 | | 38 | .11498 | | 39 | .10284 | | 40 | .09292 | | 41 | .08477 | | 42 | .07843 | | 43 | .07345 | | 44 | .06955 | | 45 | .06690 | | 46 | .06481 | | 47 | .06330 | | 48 | .06225 | | 49 | .06155 | | 50 | .06135 | | 51 | .06100 | | 52 | .06118 | | 53 | .06114 | | 54 | .06142 | | 55 | .06190 | | 56 | .06222 | | 57 | .06257 | | 58 | .06373 | | 59 | .06403 | | 60 | .06467 | | 61 | .06546 | | 62 | .06643 | | 63 | .06728 | | 64 | .06873 | | 65 | .06975 | | 66 | .07105 | | 67 | .07274 | | 68 | .07389 | | 69 | .07596 | | 70 | .07806 | | 71 | .07954 | | 72 | .08223 | | 73 | .08504 | | 74 | .08714 | | 75 | .09000 | | 76 | .09381 | | 77 | .09712 | | 78 | .10110 | | 79 | .10527 | | 80 | .10991 | | 81 | .11479 | | 82 | .12042 | | 83 | .12640 | | 84 | .13290 | | 85 | .14025 | | 86 | .14766 | | 87 | .15588 | | 88 | .16550 | | 89 | .17479 | | 90 | .18601 | | 91 | .19691 | | 92 | .20968 | | 93 | .22313 | | 94 | .23765 | | 95 | .25316 | | 96 | .26976 | | 97 | .28763 | | 98 | .30668 | | 99 | .32743 | | 100 | .34881 | | 101 | .37164 | | 102 | .39599 | | 103 | .42121 | | 104 | .44863 |

Table No. 27

POLICE and FIRE — DISABILITY

(For persons who became members between 3/18/36 and 3/31/52)

| Agex | qx | | --- | --- | | 20 | .16931 | | 21 | .16796 | | 22 | .16624 | | 23 | .16403 | | 24 | .16133 | | 25 | .15800 | | 26 | .15401 | | 27 | .14930 | | 28 | .14385 | | 29 | .13763 | | 30 | .13076 | | 31 | .12315 | | 32 | .11503 | | 33 | .10659 | | 34 | .09791 | | 35 | .08946 | | 36 | .08116 | | 37 | .07344 | | 38 | .06621 | | 39 | .05979 | | 40 | .05408 | | 41 | .04953 | | 42 | .04539 | | 43 | .04206 | | 44 | .03971 | | 45 | .03775 | | 46 | .03639 | | 47 | .03549 | | 48 | .03492 | | 49 | .03475 | | 50 | .03477 | | 51 | .03506 | | 52 | .03549 | | 53 | .03610 | | 54 | .03681 | | 55 | .03767 | | 56 | .03863 | | 57 | .03966 | | 58 | .04084 | | 59 | .04213 | | 60 | .04352 | | 61 | .04510 | | 62 | .04681 | | 63 | .04863 | | 64 | .05065 | | 65 | .05292 | | 66 | .05531 | | 67 | .05801 | | 68 | .06088 | | 69 | .06408 | | 70 | .06752 | | 71 | .07132 | | 72 | .07546 | | 73 | .07999 | | 74 | .08497 | | 75 | .09027 | | 76 | .09615 | | 77 | .10245 | | 78 | .10947 | | 79 | .11703 | | 80 | .12512 | | 81 | .13410 | | 82 | .14384 | | 83 | .15426 | | 84 | .16548 | | 85 | .17802 | | 86 | .19092 | | 87 | .20549 | | 88 | .22026 | | 89 | .23730 | | 90 | .25474 | | 91 | .27377 | | 92 | .29399 | | 93 | .31510 | | 94 | .33826 | | 95 | .36237 | | 96 | .38775 | | 97 | .41458 | | 98 | .44245 | | 99 | .47093 |

Table No. 28

STATE OF NEW YORK EMPLOYEES RETIREMENT SYSTEM

MALE BENEFICIARIES MORTALITY

(Of persons who became members between 1/1/21 and 9/30/41)

| Agex | qx | | --- | --- | | 1 | .00785 | | 2 | .00785 | | 3 | .00785 | | 4 | .00785 | | 5 | .00785 | | 6 | .00785 | | 7 | .00785 | | 8 | .00785 | | 9 | .00785 | | 10 | .00785 | | 11 | .00785 | | 12 | .00785 | | 13 | .00785 | | 14 | .00785 | | 15 | .00785 | | 16 | .00785 | | 17 | .00785 | | 18 | .00785 | | 19 | .00785 | | 20 | .00785 | | 21 | .00790 | | 22 | .00796 | | 23 | .00802 | | 24 | .00808 | | 25 | .00815 | | 26 | .00823 | | 27 | .00832 | | 28 | .00841 | | 29 | .00851 | | 30 | .00863 | | 31 | .00875 | | 32 | .00889 | | 33 | .00903 | | 34 | .00920 | | 35 | .00937 | | 36 | .00957 | | 37 | .00978 | | 38 | .01002 | | 39 | .01028 | | 40 | .01056 | | 41 | .01088 | | 42 | .01122 | | 43 | .01158 | | 44 | .01199 | | 45 | .01245 | | 46 | .01294 | | 47 | .01347 | | 48 | .01406 | | 49 | .01471 | | 50 | .01542 | | 51 | .01619 | | 52 | .01704 | | 53 | .01798 | | 54 | .01900 | | 55 | .02011 | | 56 | .02134 | | 57 | .02267 | | 58 | .02414 | | 59 | .02575 | | 60 | .02750 | | 61 | .02943 | | 62 | .03153 | | 63 | .03384 | | 64 | .03635 | | 65 | .03911 | | 66 | .04212 | | 67 | .04541 | | 68 | .04900 | | 69 | .05293 | | 70 | .05722 | | 71 | .06189 | | 72 | .06699 | | 73 | .07255 | | 74 | .07862 | | 75 | .08521 | | 76 | .09240 | | 77 | .10021 | | 78 | .10869 | | 79 | .11791 | | 80 | .12790 | | 81 | .13873 | | 82 | .15045 | | 83 | .16311 | | 84 | .17678 | | 85 | .19151 | | 86 | .20736 | | 87 | .22438 | | 88 | .24263 | | 89 | .26214 | | 90 | .28296 | | 91 | .30510 | | 92 | .32861 | | 93 | .35347 | | 94 | .37966 | | 95 | .40717 | | 96 | .43593 | | 97 | .46587 | | 98 | .49687 | | 99 | .52880 | | 100 | .56148 | | 101 | .60125 | | 102 | .63753 | | 103 | .68050 | | 104 | .72585 | | 105 | .77314 | | 106 | .99999 |

Table No. 29

STATE OF NEW YORK EMPLOYEES RETIREMENT SYSTEM

FEMALE BENEFICIARIES MORTALITY

(Of persons who became members between 1/1/21 and 9/30/41)

| Agex | qx | | --- | --- | | 1 | .00384 | | 2 | .00384 | | 3 | .00384 | | 4 | .00384 | | 5 | .00384 | | 6 | .00384 | | 7 | .00384 | | 8 | .00384 | | 9 | .00384 | | 10 | .00384 | | 11 | .00384 | | 12 | .00384 | | 13 | .00384 | | 14 | .00384 | | 15 | .00384 | | 16 | .00384 | | 17 | .00384 | | 18 | .00384 | | 19 | .00384 | | 20 | .00384 | | 21 | .00388 | | 22 | .00392 | | 23 | .00396 | | 24 | .00401 | | 25 | .00407 | | 26 | .00412 | | 27 | .00419 | | 28 | .00426 | | 29 | .00434 | | 30 | .00443 | | 31 | .00452 | | 32 | .00462 | | 33 | .00474 | | 34 | .00486 | | 35 | .00500 | | 36 | .00515 | | 37 | .00531 | | 33 | .00549 | | 39 | .00569 | | 40 | .00590 | | 41 | .00614 | | 42 | .00640 | | 43 | .00668 | | 44 | .00700 | | 45 | .00734 | | 46 | .00771 | | 47 | .00812 | | 48 | .00857 | | 49 | .00906 | | 50 | .00960 | | 51 | .01020 | | 52 | .01085 | | 53 | .01156 | | 54 | .01234 | | 55 | .01319 | | 56 | .01412 | | 57 | .01515 | | 58 | .01627 | | 59 | .01750 | | 60 | .01884 | | 61 | .02031 | | 62 | .02193 | | 63 | .02369 | | 64 | .02562 | | 65 | .02773 | | 66 | .03005 | | 67 | .03257 | | 68 | .03534 | | 69 | .03836 | | 70 | .04166 | | 71 | .04527 | | 72 | .04921 | | 73 | .05352 | | 74 | .05821 | | 75 | .06334 | | 76 | .06891 | | 77 | .07500 | | 78 | .08163 | | 79 | .08884 | | 80 | .09668 | | 81 | .10520 | | 82 | .11445 | | 83 | .12448 | | 84 | .13535 | | 85 | .14711 | | 86 | .15983 | | 87 | .17335 | | 88 | .18834 | | 89 | .20425 | | 90 | .22134 | | 91 | .23966 | | 92 | .25924 | | 93 | .28014 | | 94 | .30238 | | 95 | .32598 | | 96 | .35093 | | 97 | .37723 | | 98 | .40485 | | 99 | .43372 | | 100 | .46348 | | 101 | .49452 | | 102 | .52632 | | 103 | .56209 | | 104 | .59701 | | 105 | .62963 | | 106 | .70000 | | 107 | .85000 | | 108 | .99999 |

Table No. 30

STATE OF NEW YORK EMPLOYEES RETIREMENT SYSTEM

BENEFICIARIES MORTALITY

(Of persons who became members between 10/1/41 and 3/31/52)

| Agex | qx | | --- | --- | | 1 | .00349 | | 2 | .00350 | | 3 | .00351 | | 4 | .00352 | | 5 | .00353 | | 6 | .00354 | | 7 | .00355 | | 8 | .00356 | | 9 | .00357 | | 10 | .00358 | | 11 | .00359 | | 12 | .00361 | | 13 | .00362 | | 14 | .00364 | | 15 | .00366 | | 16 | .00368 | | 17 | .00370 | | 18 | .00373 | | 19 | .00375 | | 20 | .00378 | | 21 | .00381 | | 22 | .00385 | | 23 | .00389 | | 24 | .00393 | | 25 | .00398 | | 26 | .00403 | | 27 | .00408 | | 28 | .00415 | | 29 | .00421 | | 30 | .00429 | | 31 | .00437 | | 32 | .00446 | | 33 | .00455 | | 34 | .00466 | | 35 | .00478 | | 36 | .00490 | | 37 | .00505 | | 33 | .00520 | | 39 | .00537 | | 40 | .00556 | | 41 | .00576 | | 42 | .00598 | | 43 | .00622 | | 44 | .00649 | | 45 | .00678 | | 46 | .00711 | | 47 | .00746 | | 48 | .00784 | | 49 | .00827 | | 50 | .00873 | | 51 | .00924 | | 52 | .00980 | | 53 | .01041 | | 54 | .01107 | | 55 | .01181 | | 56 | .01261 | | 57 | .01349 | | 58 | .01445 | | 59 | .01551 | | 60 | .01666 | | 61 | .01793 | | 62 | .01931 | | 63 | .02083 | | 64 | .02249 | | 65 | .02431 | | 66 | .02630 | | 67 | .02848 | | 68 | .03086 | | 69 | .03346 | | 70 | .03631 | | 71 | .03942 | | 72 | .04283 | | 73 | .04654 | | 74 | .05060 | | 75 | .05503 | | 76 | .05986 | | 77 | .06513 | | 78 | .07088 | | 79 | .07714 | | 80 | .08395 | | 81 | .09136 | | 82 | .09943 | | 83 | .10818 | | 84 | .11768 | | 85 | .12799 | | 86 | .13915 | | 87 | .15121 | | 88 | .16426 | | 89 | .17833 | | 90 | .19348 | | 91 | .20978 | | 92 | .22728 | | 93 | .24600 | | 94 | .26601 | | 95 | .28737 | | 96 | .31008 | | 97 | .33403 | | 98 | .35953 | | 99 | .38616 | | 100 | .41432 | | 101 | .44369 | | 102 | .47406 | | 103 | .50484 | | 104 | .53906 | | 105 | .56780 | | 106 | .60784 | | 107 | .65000 | | 108 | .71429 | | 109 | .74000 | | 110 | .99999 |

Female Beneficiaries Agex = Agex on Table 30

Male Beneficiaries Agex = Agex+4 on Table 30

Table No. 31

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

SERVICE MORTALITY

(For persons who become members prior to 8/1/83)

| Agex | qx | | --- | --- | | 20 | .008230 | | 21 | .008230 | | 22 | .008230 | | 23 | .008230 | | 24 | .008230 | | 25 | .008230 | | 26 | .008450 | | 27 | .008670 | | 28 | .008890 | | 29 | .009110 | | 30 | .009340 | | 31 | .009580 | | 32 | .009840 | | 33 | .010120 | | 34 | .010420 | | 35 | .010740 | | 36 | .011080 | | 37 | .011440 | | 38 | .011820 | | 39 | .012220 | | 40 | .012650 | | 41 | .013100 | | 42 | .013211 | | 43 | .013549 | | 44 | .013909 | | 45 | .014368 | | 46 | .014996 | | 47 | .015859 | | 48 | .016162 | | 49 | .016162 | | 50 | .016162 | | 51 | .016162 | | 52 | .016162 | | 53 | .016162 | | 54 | .016162 | | 55 | .016162 | | 56 | .016162 | | 57 | .016162 | | 58 | .016240 | | 59 | .016520 | | 60 | .017015 | | 61 | .017728 | | 62 | .018649 | | 63 | .019750 | | 64 | .020999 | | 65 | .022364 | | 66 | .023830 | | 67 | .025396 | | 68 | .027082 | | 69 | .028921 | | 70 | .030960 | | 71 | .033261 | | 72 | .035897 | | 73 | .038941 | | 74 | .042456 | | 75 | .046484 | | 76 | .051045 | | 77 | .056151 | | 78 | .061827 | | 79 | .068116 | | 80 | .075072 | | 81 | .082740 | | 82 | .091129 | | 83 | .100203 | | 84 | .109883 | | 85 | .120053 | | 86 | .130579 | | 87 | .141308 | | 88 | .152076 | | 89 | .162712 | | 90 | .173042 | | 91 | .187807 | | 92 | .203934 | | 93 | .220956 | | 94 | .239508 | | 95 | .259740 | | 96 | .281812 | | 97 | .305902 | | 98 | .331463 | | 99 | .359307 | | 100 | .389665 | | 101 | .422757 | | 102 | .458854 | | 103 | .497236 | | 104 | .539025 | | 105 | .584563 | | 106 | .634177 | | 107 | .688281 | | 108 | .745895 | | 109 | .808643 | | 110 | .999999 |

Table No. 32

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

DISABILITY MORTALITY

(For persons who become members prior to 8/1/83)

| Agex | qx | | --- | --- | | 20 | .013211 | | 21 | .013211 | | 22 | .013211 | | 23 | .013211 | | 24 | .013211 | | 25 | .013211 | | 26 | .013211 | | 27 | .013211 | | 28 | .013211 | | 29 | .013211 | | 30 | .013211 | | 31 | .013211 | | 32 | .013211 | | 33 | .013211 | | 34 | .013211 | | 35 | .013211 | | 36 | .013211 | | 37 | .013211 | | 38 | .013211 | | 39 | .013211 | | 40 | .013211 | | 41 | .013211 | | 42 | .013211 | | 43 | .013549 | | 44 | .013909 | | 45 | .014368 | | 46 | .014996 | | 47 | .015859 | | 48 | .017005 | | 49 | .018467 | | 50 | .020255 | | 51 | .022351 | | 52 | .024702 | | 53 | .027222 | | 54 | .029801 | | 55 | .032328 | | 56 | .034717 | | 57 | .036923 | | 58 | .038954 | | 59 | .040851 | | 60 | .042680 | | 61 | .044506 | | 62 | .046383 | | 63 | .048353 | | 64 | .050437 | | 65 | .052648 | | 66 | .054988 | | 67 | .057456 | | 68 | .060050 | | 69 | .062777 | | 70 | .065646 | | 71 | .068675 | | 72 | .071891 | | 73 | .075332 | | 74 | .079053 | | 75 | .083120 | | 76 | .087594 | | 77 | .092521 | | 78 | .097918 | | 79 | .103761 | | 80 | .110001 | | 81 | .116573 | | 82 | .123420 | | 83 | .130504 | | 84 | .137810 | | 85 | .145342 | | 86 | .153101 | | 87 | .161068 | | 88 | .169185 | | 89 | .177347 | | 90 | .185399 | | 91 | .198030 | | 92 | .215035 | | 93 | .232983 | | 94 | .252545 | | 95 | .273878 | | 96 | .297152 | | 97 | .322553 | | 98 | .349505 | | 99 | .378865 | | 100 | .410875 | | 101 | .445768 | | 102 | .483830 | | 103 | .524301 | | 104 | .568365 | | 105 | .616382 | | 106 | .668696 | | 107 | .725745 | | 108 | .786495 | | 109 | .852659 | | 110 | .999999 |

Table No. 33

STATE OF NEW YORK POLICEMEN'S AND FIREMEN'S RETIREMENT SYSTEM

SERVICE MORTALITY

(For persons who become members prior to 8/1/83)

| Agex | qx | | --- | --- | | 20 | .001290 | | 21 | .001290 | | 22 | .001290 | | 23 | .001290 | | 24 | .001290 | | 25 | .001321 | | 26 | .001367 | | 27 | .001445 | | 28 | .001523 | | 29 | .001614 | | 30 | .001692 | | 31 | .001754 | | 32 | .001800 | | 33 | .001800 | | 34 | .001800 | | 35 | .001800 | | 38 | .001800 | | 37 | .001831 | | 38 | .001925 | | 39 | .002065 | | 40 | .002329 | | 41 | .002671 | | 42 | .003057 | | 43 | .003299 | | 44 | .003596 | | 45 | .003946 | | 46 | .004349 | | 47 | .004807 | | 48 | .005327 | | 49 | .005920 | | 50 | .006600 | | 51 | .007380 | | 52 | .008261 | | 53 | .009222 | | 54 | .010223 | | 55 | .011202 | | 56 | .012094 | | 57 | .012852 | | 58 | .013471 | | 59 | .013997 | | 60 | .014531 | | 61 | .015213 | | 62 | .016198 | | 63 | .017632 | | 64 | .019640 | | 65 | .022305 | | 66 | .025669 | | 67 | .029725 | | 68 | .034410 | | 69 | .039604 | | 70 | .045140 | | 71 | .050829 | | 72 | .056502 | | 73 | .062053 | | 74 | .067468 | | 75 | .072831 | | 76 | .078299 | | 77 | .084065 | | 78 | .090310 | | 79 | .097188 | | 80 | .104710 | | 81 | .112936 | | 82 | .121787 | | 83 | .131153 | | 84 | .140893 | | 85 | .150847 | | 86 | .160851 | | 87 | .170749 | | 88 | .180398 | | 89 | .189679 | | 90 | .198486 | | 91 | .206754 | | 92 | .214431 | | 93 | .221489 | | 94 | .227911 | | 95 | .233693 | | 98 | .238835 | | 97 | .243336 | | 98 | .256220 | | 99 | .273347 | | 100 | .295526 | | 101 | .323570 | | 102 | .358282 | | 103 | .400461 | | 104 | .450929 | | 105 | .510478 | | 106 | .579924 | | 107 | .660068 | | 108 | .751720 | | 109 | .855685 | | 110 | .999999 |

Table No. 34

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

DISABILITY MORTALITY

(For persons who became members prior to 8/1/83

| Agex | qx | | --- | --- | | 20 | .007016 | | 21 | .007016 | | 22 | .007016 | | 23 | .007016 | | 24 | .007016 | | 25 | .007016 | | 26 | .007016 | | 27 | .007016 | | 28 | .007016 | | 29 | .007016 | | 30 | .007016 | | 31 | .007016 | | 32 | .007016 | | 33 | .007016 | | 34 | .007016 | | 35 | .007016 | | 36 | .007016 | | 37 | .007016 | | 38 | .008358 | | 39 | .009771 | | 40 | .011183 | | 41 | .012519 | | 42 | .013701 | | 43 | .014666 | | 44 | .015376 | | 45 | .015820 | | 46 | .016026 | | 47 | .016062 | | 48 | .016062 | | 49 | .016102 | | 50 | .016407 | | 51 | .017095 | | 52 | .018258 | | 53 | .019904 | | 54 | .021946 | | 55 | .024213 | | 56 | .026481 | | 57 | .028522 | | 58 | .030151 | | 59 | .031262 | | 60 | .031848 | | 61 | .032003 | | 62 | .032003 | | 63 | .032003 | | 64 | .032003 | | 65 | .032703 | | 66 | .034165 | | 67 | .036482 | | 68 | .039628 | | 69 | .043440 | | 70 | .047648 | | 71 | .051933 | | 72 | .056011 | | 73 | .059706 | | 74 | .062998 | | 75 | .066016 | | 76 | .068995 | | 77 | .072192 | | 78 | .076087 | | 79 | .082207 | | 80 | .088327 | | 81 | .094447 | | 82 | .100567 | | 83 | .108764 | | 84 | .117079 | | 85 | .125440 | | 86 | .133814 | | 87 | .142186 | | 88 | .150550 | | 89 | .158895 | | 90 | .167196 | | 91 | .175424 | | 92 | .183544 | | 93 | .191525 | | 94 | .199345 | | 95 | .206988 | | 96 | .214447 | | 97 | .221721 | | 98 | .237210 | | 99 | .257061 | | 100 | .282021 | | 101 | .312842 | | 102 | .350268 | | 103 | .395057 | | 104 | .447947 | | 105 | .509689 | | 106 | .581040 | | 107 | .662732 | | 108 | .755529 | | 109 | .860172 | | 110 | .999999 |

Table No. 35

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM AND POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

BENEFICIARY MORTALITY

(For persons who became members prior to 8/1/83)

| Agex | qx | | --- | --- | | 1 | .000493 | | 2 | .000506 | | 3 | .000522 | | 4 | .000541 | | 5 | .000563 | | 6 | .000589 | | 7 | .000618 | | 8 | .000650 | | 9 | .000685 | | 10 | .000723 | | 11 | .000765 | | 12 | .000810 | | 13 | .000858 | | 14 | .000909 | | 15 | .000963 | | 16 | .001021 | | 17 | .001082 | | 18 | .001146 | | 19 | .001214 | | 20 | .001286 | | 21 | .001362 | | 22 | .001443 | | 23 | .001528 | | 24 | .001618 | | 25 | .001709 | | 26 | .001805 | | 27 | .001905 | | 28 | .002012 | | 29 | .002123 | | 30 | .002240 | | 31 | .002364 | | 32 | .002714 | | 33 | .003098 | | 34 | .003530 | | 35 | .003968 | | 36 | .004384 | | 37 | .004761 | | 38 | .005098 | | 39 | .005129 | | 40 | .005305 | | 41 | .005674 | | 42 | .006212 | | 43 | .006882 | | 44 | .007633 | | 45 | .008407 | | 46 | .009141 | | 47 | .009779 | | 48 | .010277 | | 49 | .010608 | | 50 | .010771 | | 51 | .010771 | | 52 | .010771 | | 53 | .010771 | | 54 | .010771 | | 55 | .010771 | | 56 | .010975 | | 57 | .011472 | | 58 | .012168 | | 59 | .013018 | | 60 | .013957 | | 61 | .014916 | | 62 | .015845 | | 63 | .016720 | | 64 | .017558 | | 65 | .018407 | | 66 | .019341 | | 67 | .020445 | | 68 | .021802 | | 69 | .023484 | | 70 | .025543 | | 71 | .028003 | | 72 | .030850 | | 73 | .034022 | | 74 | .037408 | | 75 | .040865 | | 76 | .044260 | | 77 | .047518 | | 78 | .050671 | | 79 | .053878 | | 80 | .057405 | | 81 | .061570 | | 82 | .066666 | | 83 | .072903 | | 84 | .080377 | | 85 | .089082 | | 86 | .098959 | | 87 | .109959 | | 88 | .122092 | | 89 | .135451 | | 90 | .150192 | | 91 | .166492 | | 92 | .184494 | | 93 | .204257 | | 94 | .225730 | | 95 | .248740 | | 96 | .273004 | | 97 | .298153 | | 98 | .323746 | | 99 | .349295 | | 100 | .374288 | | 101 | .398216 | | 102 | .420598 | | 103 | .441006 | | 104 | .459091 | | 105 | .474611 | | 106 | .487431 | | 107 | .497508 | | 108 | .604034 | | 109 | .761349 | | 110 | .999999 |

Table No. 36

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

SERVICE MORTALITY

(For Tier 2 and Article 14 persons who became members on or after 8/1/83)

| Agex | qx | | --- | --- | | 20 | .008230 | | 21 | .008230 | | 22 | .008230 | | 23 | .008230 | | 24 | .008230 | | 25 | .008230 | | 26 | .008450 | | 27 | .008670 | | 28 | .008890 | | 29 | .009110 | | 30 | .009340 | | 31 | .009580 | | 32 | .009840 | | 33 | .010120 | | 34 | .010420 | | 35 | .010740 | | 36 | .011080 | | 37 | .011440 | | 38 | .011820 | | 39 | .012220 | | 40 | .012650 | | 41 | .013100 | | 42 | .013211 | | 43 | .013549 | | 44 | .013909 | | 45 | .014368 | | 46 | .014996 | | 47 | .015859 | | 48 | .016162 | | 49 | .016162 | | 50 | .016162 | | 51 | .016162 | | 52 | .016162 | | 53 | .016162 | | 54 | .016162 | | 55 | .016162 | | 56 | .016162 | | 57 | .016162 | | 58 | .016240 | | 59 | .016520 | | 60 | .017015 | | 61 | .017728 | | 62 | .018649 | | 63 | .019750 | | 64 | .020999 | | 65 | .022364 | | 66 | .023830 | | 67 | .025396 | | 68 | .027082 | | 69 | .028921 | | 70 | .030960 | | 71 | .033261 | | 72 | .035897 | | 73 | .038941 | | 74 | .042456 | | 75 | .046484 | | 76 | .051045 | | 77 | .056151 | | 78 | .061827 | | 79 | .068116 | | 80 | 075072 | | 81 | .082740 | | 82 | .091129 | | 83 | .100203 | | 84 | .109883 | | 85 | .120053 | | 86 | .130579 | | 87 | .141308 | | 88 | .152076 | | 89 | .162712 | | 90 | .173042 | | 91 | .187807 | | 92 | .203934 | | 93 | .220956 | | 94 | .239508 | | 95 | .259740 | | 96 | .281812 | | 97 | .305902 | | 98 | .331463 | | 99 | .359307 | | 100 | .389665 | | 101 | .422757 | | 102 | .458854 | | 103 | .497236 | | 104 | .539025 | | 105 | .584563 | | 106 | .634177 | | 107 | .688281 | | 108 | .745895 | | 109 | .808643 | | 110 | .999999 |

Table No. 37

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

DISABILITY MORTALITY

(For Tier 2 and Article 14 persons who became members on or after 8/1/83)

| Agex | qx | | --- | --- | | 20 | .013211 | | 21 | .013211 | | 22 | .013211 | | 23 | .013211 | | 24 | .013211 | | 25 | .013211 | | 26 | .013211 | | 27 | .013211 | | 28 | .013211 | | 29 | .013211 | | 30 | .013211 | | 31 | .013211 | | 32 | .013211 | | 33 | .013211 | | 34 | .013211 | | 35 | .013211 | | 36 | .013211 | | 37 | .013211 | | 38 | .013211 | | 39 | .013211 | | 40 | .013211 | | 41 | .013211 | | 42 | .013211 | | 43 | .013549 | | 44 | .013909 | | 45 | .014368 | | 46 | .014996 | | 47 | .015859 | | 48 | .017005 | | 49 | .018467 | | 50 | .020255 | | 51 | .022351 | | 52 | .024702 | | 53 | .027222 | | 54 | .029801 | | 55 | .032328 | | 56 | .034717 | | 57 | .036923 | | 58 | .038954 | | 59 | .040851 | | 60 | .042680 | | 61 | .044506 | | 62 | .046383 | | 63 | .048353 | | 64 | .050437 | | 65 | .052648 | | 66 | .054988 | | 67 | .057456 | | 68 | .060050 | | 69 | .062777 | | 70 | .065646 | | 71 | .068675 | | 72 | .071891 | | 73 | .075332 | | 74 | .079053 | | 75 | .083120 | | 76 | .087594 | | 77 | .092521 | | 78 | .097918 | | 79 | .103761 | | 80 | .110001 | | 81 | .116573 | | 82 | .123420 | | 83 | .130504 | | 84 | .137810 | | 85 | .145342 | | 86 | .153101 | | 87 | .161068 | | 88 | .169185 | | 89 | .177347 | | 90 | .185399 | | 91 | .198030 | | 92 | .215035 | | 93 | .232983 | | 94 | .252545 | | 95 | .273878 | | 96 | .297152 | | 97 | .322553 | | 98 | .349505 | | 99 | .378865 | | 100 | .410875 | | 101 | .445768 | | 102 | .483830 | | 103 | .524301 | | 104 | .568365 | | 105 | .616382 | | 106 | .668696 | | 107 | .725745 | | 108 | .786495 | | 109 | .852659 | | 110 | .999999 |

Table No. 38

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM POLICEMEN'S AND FIREMEN'S RETIREMENT SYSTEM

(For Tier 2 and Article 14 persons who became members on or after 8/1/83)

| Agex | qx | | --- | --- | | 20 | .001290 | | 21 | .001290 | | 22 | .001290 | | 23 | .001290 | | 24 | .001290 | | 25 | .001321 | | 26 | .001367 | | 27 | .001445 | | 28 | .001523 | | 29 | .001614 | | 30 | .001692 | | 31 | .001754 | | 32 | .001800 | | 33 | .001800 | | 34 | .001800 | | 35 | .001800 | | 36 | .001800 | | 37 | .001831 | | 38 | .001925 | | 39 | .002065 | | 40 | .002329 | | 41 | .002671 | | 42 | .003057 | | 43 | .003299 | | 44 | .003596 | | 45 | .003946 | | 46 | .004349 | | 47 | .004807 | | 48 | .005327 | | 49 | .005920 | | 50 | .006600 | | 51 | .007380 | | 52 | .008261 | | 53 | .009222 | | 54 | .010223 | | 55 | .011202 | | 56 | .012094 | | 57 | .012852 | | 58 | .013471 | | 59 | .013997 | | 60 | .014531 | | 61 | .015213 | | 62 | .016198 | | 63 | .017632 | | 64 | .019640 | | 65 | .022305 | | 66 | .025669 | | 67 | .029725 | | 68 | .034410 | | 69 | .039604 | | 70 | .045140 | | 71 | .050829 | | 72 | .056502 | | 73 | .062053 | | 74 | .067468 | | 75 | .072831 | | 76 | .078299 | | 77 | .084065 | | 78 | .090310 | | 79 | .097168 | | 80 | .104710 | | 81 | .112936 | | 82 | .121787 | | 83 | .131153 | | 84 | .140893 | | 85 | .150847 | | 86 | .160851 | | 87 | .170749 | | 88 | .180398 | | 89 | .189676 | | 90 | .198486 | | 91 | .206754 | | 92 | .214431 | | 93 | .221489 | | 94 | .227911 | | 95 | .233693 | | 96 | .238835 | | 97 | .243336 | | 98 | .256220 | | 99 | .273347 | | 100 | .295526 | | 101 | .323570 | | 102 | .358282 | | 103 | .400461 | | 104 | .450929 | | 105 | .510478 | | 106 | .579924 | | 107 | .660068 | | 108 | .751720 | | 109 | .855685 | | 110 | .999999 |

Table No. 39

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

DISABILITY MORTALITY

(For Tier 2 and Article 14 persons who became members on or after 8/1/83)

| Agex | qx | | --- | --- | | 20 | .007016 | | 21 | .007016 | | 22 | .007016 | | 23 | .007016 | | 24 | .007016 | | 25 | .007016 | | 26 | .007016 | | 28 | .007016 | | 29 | .007016 | | 30 | .007016 | | 31 | .007016 | | 32 | .007016 | | 33 | .007016 | | 34 | .007016 | | 35 | .007016 | | 36 | .007016 | | 37 | .007016 | | 38 | .008358 | | 39 | .009771 | | 40 | .011183 | | 41 | .012519 | | 42 | .013701 | | 43 | .014666 | | 44 | .015376 | | 45 | .015820 | | 46 | .016026 | | 47 | .016062 | | 48 | .016062 | | 49 | .016102 | | 50 | .016407 | | 51 | .017095 | | 52 | .018258 | | 53 | .019904 | | 54 | .021946 | | 55 | .024213 | | 56 | .026481 | | 57 | .028522 | | 58 | .030151 | | 59 | .031262 | | 60 | .031848 | | 61 | .032003 | | 62 | .032003 | | 63 | .032003 | | 64 | .032003 | | 65 | .032703 | | 66 | .034165 | | 67 | .036482 | | 68 | .039628 | | 69 | .043440 | | 70 | .047648 | | 71 | .051933 | | 72 | .056011 | | 73 | .059706 | | 74 | .062998 | | 75 | .066016 | | 76 | .068995 | | 77 | .072192 | | 78 | .076087 | | 79 | .082207 | | 80 | .088327 | | 81 | .094447 | | 82 | .100567 | | 83 | .108764 | | 84 | .117079 | | 85 | .125440 | | 86 | .133814 | | 87 | .142186 | | 88 | .150550 | | 89 | .158895 | | 90 | .167196 | | 91 | .175424 | | 92 | .183544 | | 93 | .191525 | | 94 | .199345 | | 95 | .206988 | | 96 | .214447 | | 97 | .221721 | | 98 | .237210 | | 99 | .257061 | | 100 | .282021 | | 101 | .312842 | | 102 | .350268 | | 103 | .395057 | | 104 | .447947 | | 105 | .509689 | | 106 | .581040 | | 107 | .662732 | | 108 | .755529 | | 109 | .860172 | | 110 | .999999 |

Table No. 40

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM AND POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

BENEFICIARY MORTALITY

(For Tier 2 and Article 14 persons who became members on or after 8/1/83)

| Agex | qx | | --- | --- | | 1 | .000493 | | 2 | .000506 | | 3 | .000522 | | 4 | .000541 | | 5 | .000563 | | 6 | .000589 | | 7 | .000618 | | 8 | .000650 | | 9 | .000685 | | 10 | .000723 | | 11 | .000765 | | 12 | .000810 | | 13 | .000858 | | 14 | .000909 | | 15 | .000963 | | 16 | .001021 | | 17 | .001082 | | 18 | .001146 | | 19 | .001214 | | 20 | .001286 | | 21 | .001362 | | 22 | .001443 | | 23 | .001528 | | 24 | .001618 | | 25 | .001709 | | 26 | .001805 | | 27 | .001905 | | 28 | .002012 | | 29 | .002123 | | 30 | .002240 | | 31 | .002364 | | 32 | .002714 | | 33 | .003098 | | 34 | .003530 | | 35 | .003968 | | 36 | .004384 | | 37 | .004761 | | 38 | .005098 | | 39 | .005129 | | 40 | .005305 | | 41 | .005674 | | 42 | .006212 | | 43 | .006882 | | 44 | .007633 | | 45 | .008407 | | 46 | .009141 | | 47 | .009779 | | 48 | .010277 | | 49 | .010608 | | 50 | .010771 | | 51 | .010771 | | 52 | .010771 | | 53 | .010771 | | 54 | .010771 | | 55 | .010771 | | 56 | .010975 | | 57 | .011472 | | 58 | .012168 | | 59 | .013018 | | 60 | .013957 | | 61 | .014916 | | 62 | .015845 | | 63 | .016720 | | 64 | .017558 | | 65 | .018407 | | 66 | .019341 | | 67 | .020445 | | 68 | .021802 | | 69 | .023484 | | 70 | .025543 | | 71 | .028003 | | 72 | .030850 | | 73 | .034022 | | 74 | .037408 | | 75 | .040865 | | 76 | .044260 | | 77 | .047518 | | 78 | .050671 | | 79 | .053878 | | 80 | .057405 | | 81 | .061570 | | 82 | .066666 | | 83 | .072903 | | 84 | .080377 | | 85 | .089082 | | 86 | .098959 | | 87 | .109959 | | 88 | .122092 | | 89 | .135451 | | 90 | .150192 | | 91 | .166492 | | 92 | .184494 | | 93 | .204257 | | 94 | .225730 | | 95 | .248740 | | 96 | .273004 | | 97 | .298153 | | 98 | .323746 | | 99 | .349295 | | 100 | .374288 | | 101 | .398216 | | 102 | .420598 | | 103 | .441006 | | 104 | .459091 | | 105 | .474611 | | 106 | .487431 | | 107 | .497508 | | 108 | .604034 | | 109 | .761349 | | 110 | .999999 |

Table No. 41

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

SERVICE MORTALITY

(For Article 15 members)

| Agex | qx | | --- | --- | | 20 | .008230 | | 21 | .008230 | | 22 | .008230 | | 23 | .008230 | | 24 | .008230 | | 25 | .008230 | | 26 | .008450 | | 27 | .008670 | | 28 | .008890 | | 29 | .009110 | | 30 | .009340 | | 31 | .009580 | | 32 | .009840 | | 33 | .010120 | | 34 | .010420 | | 35 | .010740 | | 36 | .011080 | | 37 | .011440 | | 38 | .011820 | | 39 | .012220 | | 40 | .012650 | | 41 | .013100 | | 42 | .013211 | | 43 | .013549 | | 44 | .013909 | | 45 | .014368 | | 46 | .014996 | | 47 | .015859 | | 48 | .016162 | | 49 | .016162 | | 50 | .016162 | | 51 | .016162 | | 52 | .016162 | | 53 | .016162 | | 54 | .016162 | | 55 | .016162 | | 56 | .016162 | | 57 | .016162 | | 58 | .016240 | | 59 | .016520 | | 60 | .017015 | | 61 | .017728 | | 62 | .018649 | | 63 | .019750 | | 64 | .020999 | | 65 | .022364 | | 66 | .023830 | | 67 | .025396 | | 68 | .027082 | | 69 | .028921 | | 70 | .030960 | | 71 | .033261 | | 72 | .035897 | | 73 | .038941 | | 74 | .042456 | | 75 | .046484 | | 76 | .051045 | | 77 | .056151 | | 78 | .061827 | | 79 | .068116 | | 80 | .075072 | | 81 | .082740 | | 82 | .091129 | | 83 | .100203 | | 84 | .109883 | | 85 | .120053 | | 86 | .130579 | | 87 | .141308 | | 88 | .152076 | | 89 | .162712 | | 90 | .173042 | | 91 | .187807 | | 92 | .203934 | | 93 | .220956 | | 94 | .239508 | | 95 | .259740 | | 96 | .281812 | | 97 | .305902 | | 98 | .331463 | | 99 | .359307 | | 100 | .389665 | | 101 | .422757 | | 102 | .458854 | | 103 | .497236 | | 104 | .539025 | | 105 | .584563 | | 106 | .634177 | | 107 | .688281 | | 108 | .745895 | | 109 | .808643 | | 110 | .999999 |

Table No. 42

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

DISABILITY MORTALITY

(For Article 15 members)

| Agex | qx | | --- | --- | | 20 | .013211 | | 21 | .013211 | | 22 | .013211 | | 23 | .013211 | | 24 | .013211 | | 25 | .013211 | | 26 | .013211 | | 27 | .013211 | | 28 | .013211 | | 29 | .013211 | | 30 | .013211 | | 31 | .013211 | | 32 | .013211 | | 33 | .013211 | | 34 | .013211 | | 35 | .013211 | | 36 | .013211 | | 37 | .013211 | | 38 | .013211 | | 39 | .013211 | | 40 | .013211 | | 41 | .013211 | | 42 | .013211 | | 43 | .013549 | | 44 | .013909 | | 45 | .014368 | | 46 | .014996 | | 47 | .015859 | | 48 | .017005 | | 49 | .018467 | | 50 | .020255 | | 51 | .022351 | | 52 | .024702 | | 53 | .027222 | | 54 | .029801 | | 55 | .032328 | | 56 | .034717 | | 57 | .036923 | | 58 | .038954 | | 59 | .040851 | | 60 | .042680 | | 61 | .044506 | | 62 | .046383 | | 63 | .048353 | | 64 | .050437 | | 65 | .052648 | | 66 | .054988 | | 67 | .057456 | | 68 | .060050 | | 69 | .062777 | | 70 | .065646 | | 71 | .068675 | | 72 | .071891 | | 73 | .075332 | | 74 | .079053 | | 75 | .083120 | | 76 | .087594 | | 77 | .092521 | | 78 | .097918 | | 79 | .103761 | | 80 | .110001 | | 81 | .116573 | | 82 | .123420 | | 83 | .130504 | | 84 | .137810 | | 85 | .145342 | | 86 | .153101 | | 87 | .161068 | | 88 | .169185 | | 89 | .177347 | | 90 | .185399 | | 91 | .198030 | | 92 | .215035 | | 93 | .232983 | | 94 | .252545 | | 95 | .273878 | | 96 | .297152 | | 97 | .322553 | | 98 | .349505 | | 99 | .378865 | | 100 | .410875 | | 101 | .445768 | | 102 | .483830 | | 103 | .524301 | | 104 | .568365 | | 105 | .616382 | | 106 | .668696 | | 107 | .725745 | | 108 | .786495 | | 109 | .852659 | | 110 | .999999 |

Table No. 43

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM AND POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

BENEFICIARY MORTALITY

(For Article 15 members)

| Agex | qx | | --- | --- | | 1 | .000493 | | 2 | .000506 | | 3 | .000522 | | 4 | .000541 | | 5 | .000563 | | 6 | .000589 | | 7 | .000618 | | 8 | .000650 | | 9 | .000685 | | 10 | .000723 | | 11 | .000765 | | 12 | .000810 | | 13 | .000858 | | 14 | .000909 | | 15 | .000963 | | 16 | .001021 | | 17 | .001082 | | 18 | .001146 | | 19 | .001214 | | 20 | .001286 | | 21 | .001362 | | 22 | .001443 | | 23 | .001528 | | 24 | .001618 | | 25 | .001709 | | 26 | .001805 | | 27 | .001905 | | 28 | .002012 | | 29 | .002123 | | 30 | .002240 | | 31 | .002364 | | 32 | .002714 | | 33 | .003098 | | 34 | .003530 | | 35 | .003968 | | 36 | .004384 | | 37 | .004761 | | 38 | .005098 | | 39 | .005129 | | 40 | .005305 | | 41 | .005674 | | 42 | .006212 | | 43 | .006882 | | 44 | .007633 | | 45 | .008407 | | 46 | .009141 | | 47 | .009779 | | 48 | .010277 | | 49 | .010608 | | 50 | .010771 | | 51 | .010771 | | 52 | .010771 | | 53 | .010771 | | 54 | .010771 | | 55 | .010771 | | 56 | .010975 | | 57 | .011472 | | 58 | .012168 | | 59 | .013018 | | 60 | .013957 | | 61 | .014916 | | 62 | .015845 | | 63 | .016720 | | 64 | .017558 | | 65 | .018407 | | 66 | .019341 | | 67 | .020445 | | 68 | .021802 | | 69 | .023484 | | 70 | .025543 | | 71 | .028003 | | 72 | .030850 | | 73 | .034022 | | 74 | .037408 | | 75 | .040865 | | 76 | .044260 | | 77 | .047518 | | 78 | .050671 | | 79 | .053878 | | 80 | .057405 | | 81 | .061570 | | 82 | .066666 | | 83 | .072903 | | 84 | .080377 | | 85 | .089082 | | 86 | .098959 | | 87 | .109959 | | 88 | .122092 | | 89 | .135451 | | 90 | .150192 | | 91 | .166492 | | 92 | .184494 | | 93 | .204257 | | 94 | .225730 | | 95 | .248740 | | 96 | .273004 | | 97 | .298153 | | 98 | .323746 | | 99 | .349295 | | 100 | .374288 | | 101 | .398216 | | 102 | .420598 | | 103 | .441006 | | 104 | .459091 | | 105 | .474611 | | 106 | .487431 | | 107 | .497508 | | 108 | .604034 | | 109 | .761349 | | 110 | .999999 |

Table No. 44

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

SERVICE MORTALITY

EFFECTIVE JANUARY 16, 1999

| Agex | qx | | --- | --- | | 20 | 0.000390 | | 21 | 0.000390 | | 22 | 0.000390 | | 23 | 0.000390 | | 24 | 0.000390 | | 25 | 0.000390 | | 26 | 0.000390 | | 27 | 0.000390 | | 28 | 0.000407 | | 29 | 0.000430 | | 30 | 0.000455 | | 31 | 0.000482 | | 32 | 0.000509 | | 33 | 0.000538 | | 34 | 0.000570 | | 35 | 0.000608 | | 36 | 0.000654 | | 37 | 0.000709 | | 38 | 0.000774 | | 39 | 0.000845 | | 40 | 0.000921 | | 41 | 0.000998 | | 42 | 0.001074 | | 43 | 0.001147 | | 44 | 0.001221 | | 45 | 0.001299 | | 46 | 0.001384 | | 47 | 0.001482 | | 48 | 0.001595 | | 49 | 0.001725 | | 50 | 0.002473 | | 51 | 0.003220 | | 52 | 0.003968 | | 53 | 0.004715 | | 54 | 0.005463 | | 55 | 0.006210 | | 56 | 0.006526 | | 57 | 0.006930 | | 58 | 0.007421 | | 59 | 0.007995 | | 60 | 0.008636 | | 61 | 0.009326 | | 62 | 0.010049 | | 63 | 0.010796 | | 64 | 0.011565 | | 65 | 0.012367 | | 66 | 0.013224 | | 67 | 0.014162 | | 68 | 0.015210 | | 69 | 0.016395 | | 70 | 0.017741 | | 71 | 0.019268 | | 72 | 0.020995 | | 73 | 0.022946 | | 74 | 0.025149 | | 75 | 0.027640 | | 76 | 0.030459 | | 77 | 0.033650 | | 78 | 0.037262 | | 79 | 0.041347 | | 80 | 0.045958 | | 81 | 0.051139 | | 82 | 0.056922 | | 83 | 0.063314 | | 84 | 0.070300 | | 85 | 0.077838 | | 86 | 0.085862 | | 87 | 0.094290 | | 88 | 0.103035 | | 89 | 0.112007 | | 90 | 0.121124 | | 91 | 0.130320 | | 92 | 0.139547 | | 93 | 0.148773 | | 94 | 0.157982 | | 95 | 0.167169 | | 96 | 0.176333 | | 97 | 0.185474 | | 98 | 0.196927 | | 99 | 0.208379 | | 100 | 0.219832 | | 101 | 0.231284 | | 102 | 0.242737 | | 103 | 0.254190 | | 104 | 0.265642 | | 105 | 0.277095 | | 106 | 0.288547 | | 107 | 0.300000 | | 108 | 0.533333 | | 109 | 0.766666 | | 110 | 1.000000 |

Table No. 45

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

DISABILITY MORTALITY

EFFECTIVE JANUARY 16, 1999

| Agex | qx | | --- | --- | | 20 | 0.010481 | | 21 | 0.010481 | | 22 | 0.010481 | | 23 | 0.010481 | | 24 | 0.010481 | | 25 | 0.010481 | | 26 | 0.010481 | | 27 | 0.010481 | | 28 | 0.010481 | | 29 | 0.010481 | | 30 | 0.010481 | | 31 | 0.010481 | | 32 | 0.010481 | | 33 | 0.010481 | | 34 | 0.010481 | | 35 | 0.010481 | | 36 | 0.010481 | | 37 | 0.010481 | | 38 | 0.010481 | | 39 | 0.010481 | | 40 | 0.010722 | | 41 | 0.011309 | | 42 | 0.012265 | | 43 | 0.013589 | | 44 | 0.015253 | | 45 | 0.017202 | | 46 | 0.019354 | | 47 | 0.021591 | | 48 | 0.023758 | | 49 | 0.025671 | | 50 | 0.027137 | | 51 | 0.028002 | | 52 | 0.028191 | | 53 | 0.027751 | | 54 | 0.026854 | | 55 | 0.025763 | | 56 | 0.024776 | | 57 | 0.024145 | | 58 | 0.024018 | | 59 | 0.024411 | | 60 | 0.025219 | | 61 | 0.026270 | | 62 | 0.027386 | | 63 | 0.028435 | | 64 | 0.029369 | | 65 | 0.030226 | | 66 | 0.031103 | | 67 | 0.032129 | | 68 | 0.033420 | | 69 | 0.035059 | | 70 | 0.037087 | | 71 | 0.039504 | | 72 | 0.042287 | | 73 | 0.045407 | | 74 | 0.048840 | | 75 | 0.052573 | | 76 | 0.056599 | | 77 | 0.060908 | | 78 | 0.065485 | | 79 | 0.070302 | | 80 | 0.075322 | | 81 | 0.080509 | | 82 | 0.085834 | | 83 | 0.091279 | | 84 | 0.096848 | | 85 | 0.102562 | | 86 | 0.108456 | | 87 | 0.114574 | | 88 | 0.120958 | | 89 | 0.127647 | | 90 | 0.134672 | | 91 | 0.142050 | | 92 | 0.149796 | | 93 | 0.157914 | | 94 | 0.166408 | | 95 | 0.175279 | | 96 | 0.184527 | | 97 | 0.194153 | | 98 | 0.204738 | | 99 | 0.215322 | | 100 | 0.225907 | | 101 | 0.236492 | | 102 | 0.247077 | | 103 | 0.257661 | | 104 | 0.268246 | | 105 | 0.278831 | | 106 | 0.289415 | | 107 | 0.300000 | | 108 | 0.533333 | | 109 | 0.766666 | | 110 | 1.000000 |

Table No. 46

STATE OF NEW YORK POLICE AND FIRE RETIREMENT SYSTEM

SERVICE MORTALITY

EFFECTIVE JANUARY 16, 1999

| Agex | qx | | --- | --- | | 20 | 0.000380 | | 21 | 0.000380 | | 22 | 0.000380 | | 23 | 0.000380 | | 24 | 0.000380 | | 25 | 0.000380 | | 26 | 0.000380 | | 27 | 0.000380 | | 28 | 0.000380 | | 29 | 0.000380 | | 30 | 0.000380 | | 31 | 0.000380 | | 32 | 0.000380 | | 33 | 0.000395 | | 34 | 0.000406 | | 35 | 0.000417 | | 36 | 0.000429 | | 37 | 0.000444 | | 38 | 0.000466 | | 39 | 0.000499 | | 40 | 0.000547 | | 41 | 0.000615 | | 42 | 0.000978 | | 43 | 0.001342 | | 44 | 0.001705 | | 45 | 0.002068 | | 46 | 0.002432 | | 47 | 0.002795 | | 48 | 0.002887 | | 49 | 0.002997 | | 50 | 0.003139 | | 51 | 0.003324 | | 52 | 0.003564 | | 53 | 0.003866 | | 54 | 0.004233 | | 55 | 0.004665 | | 56 | 0.005163 | | 57 | 0.005726 | | 58 | 0.006358 | | 59 | 0.007063 | | 60 | 0.007850 | | 61 | 0.008726 | | 62 | 0.009697 | | 63 | 0.010764 | | 64 | 0.011923 | | 65 | 0.013165 | | 66 | 0.014484 | | 67 | 0.015880 | | 68 | 0.017364 | | 69 | 0.018958 | | 70 | 0.020698 | | 71 | 0.022629 | | 72 | 0.024806 | | 73 | 0.027290 | | 74 | 0.030148 | | 75 | 0.033448 | | 76 | 0.037255 | | 77 | 0.041624 | | 78 | 0.046594 | | 79 | 0.052186 | | 80 | 0.058397 | | 81 | 0.065195 | | 82 | 0.072512 | | 83 | 0.080251 | | 84 | 0.088273 | | 85 | 0.096418 | | 86 | 0.104504 | | 87 | 0.112350 | | 88 | 0.119779 | | 89 | 0.126639 | | 90 | 0.132802 | | 91 | 0.138171 | | 92 | 0.142680 | | 93 | 0.153168 | | 94 | 0.163656 | | 95 | 0.174144 | | 96 | 0.184632 | | 97 | 0.195120 | | 98 | 0.205608 | | 99 | 0.216096 | | 100 | 0.226584 | | 101 | 0.237072 | | 102 | 0.247560 | | 103 | 0.258048 | | 104 | 0.268536 | | 105 | 0.279024 | | 106 | 0.289512 | | 107 | 0.300000 | | 108 | 0.533333 | | 109 | 0.766666 | | 110 | 1.000000 |

Table No. 47

STATE OF NEW YORK POLICE AND FIRE RETIREMENT SYSTEM

DISABILITY MORTALITY

EFFECTIVE JANUARY 16, 1999

| Agex | qx | | --- | --- | | 20 | 0.001947 | | 21 | 0.001947 | | 22 | 0.001947 | | 23 | 0.001947 | | 24 | 0.001947 | | 25 | 0.001947 | | 26 | 0.001947 | | 27 | 0.001947 | | 28 | 0.001947 | | 29 | 0.001947 | | 30 | 0.001947 | | 31 | 0.001947 | | 32 | 0.001947 | | 33 | 0.001947 | | 34 | 0.001947 | | 35 | 0.001947 | | 36 | 0.001947 | | 37 | 0.001947 | | 38 | 0.002064 | | 39 | 0.002173 | | 40 | 0.002239 | | 41 | 0.002239 | | 42 | 0.002173 | | 43 | 0.002063 | | 44 | 0.001953 | | 45 | 0.001899 | | 46 | 0.001956 | | 47 | 0.002158 | | 48 | 0.002512 | | 49 | 0.002992 | | 50 | 0.003545 | | 51 | 0.004102 | | 52 | 0.004601 | | 53 | 0.004999 | | 54 | 0.005283 | | 55 | 0.005472 | | 56 | 0.005612 | | 57 | 0.005767 | | 58 | 0.006008 | | 59 | 0.006406 | | 60 | 0.007025 | | 61 | 0.007910 | | 62 | 0.009085 | | 63 | 0.010547 | | 64 | 0.012274 | | 65 | 0.014227 | | 66 | 0.016372 | | 67 | 0.018689 | | 68 | 0.021189 | | 69 | 0.023914 | | 70 | 0.026928 | | 71 | 0.030307 | | 72 | 0.034115 | | 73 | 0.038385 | | 74 | 0.043113 | | 75 | 0.048254 | | 76 | 0.053724 | | 77 | 0.059419 | | 78 | 0.065223 | | 79 | 0.071023 | | 80 | 0.076722 | | 81 | 0.082242 | | 82 | 0.087527 | | 83 | 0.096026 | | 84 | 0.104525 | | 85 | 0.113024 | | 86 | 0.121523 | | 87 | 0.130022 | | 88 | 0.138521 | | 89 | 0.147019 | | 90 | 0.155518 | | 91 | 0.164017 | | 92 | 0.172516 | | 93 | 0.181015 | | 94 | 0.189514 | | 95 | 0.198013 | | 96 | 0.206512 | | 97 | 0.215011 | | 98 | 0.233510 | | 99 | 0.232009 | | 100 | 0.240508 | | 101 | 0.249006 | | 102 | 0.257505 | | 103 | 0.266004 | | 104 | 0.274503 | | 105 | 0.283002 | | 106 | 0.291501 | | 107 | 0.300000 | | 108 | 0.533333 | | 109 | 0.766666 | | 110 | 1.000000 |

Table No. 48

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM AND POLICE & FIRE RETIREMENT SYSTEM

BENEFICIARY MORTALITY

EFFECTIVE JANUARY 16, 1999

| Agex | qx | | --- | --- | | 1 | 0.000390 | | 2 | 0.000390 | | 3 | 0.000390 | | 4 | 0.000390 | | 5 | 0.000390 | | 6 | 0.000390 | | 7 | 0.000390 | | 8 | 0.000390 | | 9 | 0.000390 | | 10 | 0.000390 | | 11 | 0.000390 | | 12 | 0.000390 | | 13 | 0.000390 | | 14 | 0.000390 | | 15 | 0.000390 | | 16 | 0.000390 | | 17 | 0.000390 | | 18 | 0.000390 | | 19 | 0.000390 | | 20 | 0.000390 | | 21 | 0.000390 | | 22 | 0.000390 | | 23 | 0.000390 | | 24 | 0.000390 | | 25 | 0.000390 | | 26 | 0.000390 | | 27 | 0.000390 | | 28 | 0.000407 | | 29 | 0.000430 | | 30 | 0.000455 | | 31 | 0.000482 | | 32 | 0.000509 | | 33 | 0.000538 | | 34 | 0.000570 | | 35 | 0.000608 | | 36 | 0.000654 | | 37 | 0.000709 | | 38 | 0.000774 | | 39 | 0.000845 | | 40 | 0.000921 | | 41 | 0.000998 | | 42 | 0.001074 | | 43 | 0.001147 | | 44 | 0.001221 | | 45 | 0.001299 | | 46 | 0.001384 | | 47 | 0.001482 | | 48 | 0.001932 | | 49 | 0.002383 | | 50 | 0.002833 | | 51 | 0.003283 | | 52 | 0.003734 | | 53 | 0.004184 | | 54 | 0.004634 | | 55 | 0.005084 | | 56 | 0.005535 | | 57 | 0.005985 | | 58 | 0.006393 | | 59 | 0.006917 | | 60 | 0.007606 | | 61 | 0.008495 | | 62 | 0.009584 | | 63 | 0.010826 | | 64 | 0.012131 | | 65 | 0.013383 | | 66 | 0.014469 | | 67 | 0.015316 | | 68 | 0.015909 | | 69 | 0.016305 | | 70 | 0.016622 | | 71 | 0.017012 | | 72 | 0.017630 | | 73 | 0.018606 | | 74 | 0.020023 | | 75 | 0.021916 | | 76 | 0.024270 | | 77 | 0.027035 | | 78 | 0.030142 | | 79 | 0.033510 | | 80 | 0.037068 | | 81 | 0.040769 | | 82 | 0.044609 | | 83 | 0.048643 | | 84 | 0.052997 | | 85 | 0.057869 | | 86 | 0.063519 | | 87 | 0.070250 | | 88 | 0.078385 | | 89 | 0.088231 | | 90 | 0.100056 | | 91 | 0.114066 | | 92 | 0.130389 | | 93 | 0.141696 | | 94 | 0.153004 | | 95 | 0.164311 | | 96 | 0.175619 | | 97 | 0.186926 | | 98 | 0.198233 | | 99 | 0.209541 | | 100 | 0.220848 | | 101 | 0.232156 | | 102 | 0.243463 | | 103 | 0.254770 | | 104 | 0.266078 | | 105 | 0.277385 | | 106 | 0.288693 | | 107 | 0.300000 | | 108 | 0.533333 | | 109 | 0.766666 | | 110 | 1.000000 |

Table No. 49

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

SERVICE MORTALITY

EFFECTIVE OCTOBER 15, 2015

| Agex | qx | | --- | --- | | 20 | 0.000361 | | 21 | 0.000361 | | 22 | 0.000361 | | 23 | 0.000361 | | 24 | 0.000361 | | 25 | 0.000361 | | 26 | 0.000361 | | 27 | 0.000361 | | 28 | 0.000361 | | 29 | 0.000361 | | 30 | 0.000361 | | 31 | 0.000366 | | 32 | 0.000387 | | 33 | 0.000424 | | 34 | 0.000475 | | 35 | 0.000532 | | 36 | 0.000585 | | 37 | 0.000627 | | 38 | 0.000655 | | 39 | 0.000674 | | 40 | 0.000693 | | 41 | 0.000722 | | 42 | 0.000766 | | 43 | 0.000827 | | 44 | 0.000900 | | 45 | 0.001156 | | 46 | 0.001412 | | 47 | 0.001668 | | 48 | 0.001924 | | 49 | 0.002180 | | 50 | 0.002436 | | 51 | 0.002716 | | 52 | 0.002894 | | 53 | 0.003092 | | 54 | 0.003442 | | 55 | 0.004082 | | 56 | 0.004760 | | 57 | 0.005299 | | 58 | 0.005677 | | 59 | 0.005927 | | 60 | 0.006056 | | 61 | 0.006070 | | 62 | 0.006403 | | 63 | 0.006905 | | 64 | 0.007419 | | 65 | 0.007923 | | 66 | 0.008326 | | 67 | 0.008735 | | 68 | 0.009464 | | 69 | 0.010379 | | 70 | 0.011218 | | 71 | 0.012162 | | 72 | 0.013539 | | 73 | 0.015232 | | 74 | 0.017106 | | 75 | 0.018936 | | 76 | 0.021025 | | 77 | 0.023113 | | 78 | 0.024896 | | 79 | 0.026974 | | 80 | 0.029923 | | 81 | 0.033579 | | 82 | 0.037313 | | 83 | 0.040987 | | 84 | 0.045205 | | 85 | 0.050462 | | 86 | 0.056994 | | 87 | 0.064670 | | 88 | 0.073025 | | 89 | 0.082081 | | 90 | 0.091403 | | 91 | 0.101425 | | 92 | 0.112050 | | 93 | 0.124106 | | 94 | 0.137045 | | 95 | 0.151519 | | 96 | 0.168596 | | 97 | 0.187418 | | 98 | 0.208889 | | 99 | 0.232171 | | 100 | 0.258121 | | 101 | 0.287796 | | 102 | 0.320439 | | 103 | 0.357533 | | 104 | 0.400562 | | 105 | 0.451752 | | 106 | 0.514070 | | 107 | 0.591967 | | 108 | 0.692121 | | 109 | 0.823434 | | 110 | 1.000000 |

Table No. 50

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

DISABILITY MORTALITY

EFFECTIVE OCTOBER 15, 2015

| Agex | qx | | --- | --- | | 20 | 0.002885 | | 21 | 0.002885 | | 22 | 0.002885 | | 23 | 0.002885 | | 24 | 0.002885 | | 25 | 0.002885 | | 26 | 0.002885 | | 27 | 0.002885 | | 28 | 0.002885 | | 29 | 0.002885 | | 30 | 0.002885 | | 31 | 0.002932 | | 32 | 0.003097 | | 33 | 0.003395 | | 34 | 0.003802 | | 35 | 0.004482 | | 36 | 0.005163 | | 37 | 0.005843 | | 38 | 0.006523 | | 39 | 0.007203 | | 40 | 0.007884 | | 41 | 0.008631 | | 42 | 0.009472 | | 43 | 0.010404 | | 44 | 0.011424 | | 45 | 0.012525 | | 46 | 0.013699 | | 47 | 0.014928 | | 48 | 0.016219 | | 49 | 0.017540 | | 50 | 0.018859 | | 51 | 0.020130 | | 52 | 0.021325 | | 53 | 0.022234 | | 54 | 0.023057 | | 55 | 0.023732 | | 56 | 0.024233 | | 57 | 0.024550 | | 58 | 0.024707 | | 59 | 0.024744 | | 60 | 0.024712 | | 61 | 0.024663 | | 62 | 0.024638 | | 63 | 0.024669 | | 64 | 0.024775 | | 65 | 0.024960 | | 66 | 0.025227 | | 67 | 0.025568 | | 68 | 0.025992 | | 69 | 0.026497 | | 70 | 0.027105 | | 71 | 0.027835 | | 72 | 0.028723 | | 73 | 0.029790 | | 74 | 0.031070 | | 75 | 0.032594 | | 76 | 0.034396 | | 77 | 0.036530 | | 78 | 0.039006 | | 79 | 0.041871 | | 80 | 0.045149 | | 81 | 0.048873 | | 82 | 0.053070 | | 83 | 0.057764 | | 84 | 0.062957 | | 85 | 0.068670 | | 86 | 0.075193 | | 87 | 0.082556 | | 88 | 0.090363 | | 89 | 0.099166 | | 90 | 0.108383 | | 91 | 0.118740 | | 92 | 0.129484 | | 93 | 0.141561 | | 94 | 0.154044 | | 95 | 0.168058 | | 96 | 0.184806 | | 97 | 0.202947 | | 98 | 0.223463 | | 99 | 0.244827 | | 100 | 0.267805 | | 101 | 0.297093 | | 102 | 0.329310 | | 103 | 0.365920 | | 104 | 0.408387 | | 105 | 0.458908 | | 106 | 0.520412 | | 107 | 0.597292 | | 108 | 0.696138 | | 109 | 0.825737 | | 110 | 1.000000 |

Table No. 51

STATE OF NEW YORK POLICE AND FIRE RETIREMENT SYSTEM

SERVICE MORTALITY

EFFECTIVE OCTOBER 15, 2015

| Agex | qx | | --- | --- | | 20 | 0.000333 | | 21 | 0.000333 | | 22 | 0.000333 | | 23 | 0.000333 | | 24 | 0.000333 | | 25 | 0.000333 | | 26 | 0.000333 | | 27 | 0.000333 | | 28 | 0.000333 | | 29 | 0.000333 | | 30 | 0.000333 | | 31 | 0.000333 | | 32 | 0.000342 | | 33 | 0.000361 | | 34 | 0.000361 | | 35 | 0.000361 | | 36 | 0.000361 | | 37 | 0.000361 | | 38 | 0.000361 | | 39 | 0.000361 | | 40 | 0.000648 | | 41 | 0.000936 | | 42 | 0.001223 | | 43 | 0.001510 | | 44 | 0.001797 | | 45 | 0.002085 | | 46 | 0.001983 | | 47 | 0.001902 | | 48 | 0.001845 | | 49 | 0.001818 | | 50 | 0.001826 | | 51 | 0.001872 | | 52 | 0.001960 | | 53 | 0.002109 | | 54 | 0.002313 | | 55 | 0.002536 | | 56 | 0.002808 | | 57 | 0.003120 | | 58 | 0.003468 | | 59 | 0.003846 | | 60 | 0.004248 | | 61 | 0.004671 | | 62 | 0.005122 | | 63 | 0.005593 | | 64 | 0.006100 | | 65 | 0.006655 | | 66 | 0.007271 | | 67 | 0.007960 | | 68 | 0.008738 | | 69 | 0.009608 | | 70 | 0.010587 | | 71 | 0.011688 | | 72 | 0.012938 | | 73 | 0.014363 | | 74 | 0.015994 | | 75 | 0.017876 | | 76 | 0.020044 | | 77 | 0.022555 | | 78 | 0.025441 | | 79 | 0.028773 | | 80 | 0.032603 | | 81 | 0.036997 | | 82 | 0.042012 | | 83 | 0.047701 | | 84 | 0.054096 | | 85 | 0.061231 | | 86 | 0.069387 | | 87 | 0.078620 | | 88 | 0.088589 | | 89 | 0.099799 | | 90 | 0.111776 | | 91 | 0.125226 | | 92 | 0.139425 | | 93 | 0.155346 | | 94 | 0.172048 | | 95 | 0.190742 | | 96 | 0.212570 | | 97 | 0.236308 | | 98 | 0.263041 | | 99 | 0.291189 | | 100 | 0.321498 | | 101 | 0.348638 | | 102 | 0.378492 | | 103 | 0.412417 | | 104 | 0.451770 | | 105 | 0.498587 | | 106 | 0.555581 | | 107 | 0.626824 | | 108 | 0.718422 | | 109 | 0.838517 | | 110 | 1.000000 |

Table No. 52

STATE OF NEW YORK POLICE AND FIRE RETIREMENT SYSTEM

DISABILITY MORTALITY

EFFECTIVE OCTOBER 15, 2015

| Agex | qx | | --- | --- | | 20 | 0.001998 | | 21 | 0.001998 | | 22 | 0.001998 | | 23 | 0.001998 | | 24 | 0.001998 | | 25 | 0.001998 | | 26 | 0.001998 | | 27 | 0.001998 | | 28 | 0.001998 | | 29 | 0.001998 | | 30 | 0.001998 | | 31 | 0.001998 | | 32 | 0.002052 | | 33 | 0.002166 | | 34 | 0.002166 | | 35 | 0.002690 | | 36 | 0.003215 | | 37 | 0.003739 | | 38 | 0.004264 | | 39 | 0.004788 | | 40 | 0.005313 | | 41 | 0.004835 | | 42 | 0.004395 | | 43 | 0.003996 | | 44 | 0.003640 | | 45 | 0.003331 | | 46 | 0.003075 | | 47 | 0.002876 | | 48 | 0.002700 | | 49 | 0.002593 | | 50 | 0.002556 | | 51 | 0.002583 | | 52 | 0.002670 | | 53 | 0.002836 | | 54 | 0.003058 | | 55 | 0.003324 | | 56 | 0.003625 | | 57 | 0.003950 | | 58 | 0.004293 | | 59 | 0.004649 | | 60 | 0.005021 | | 61 | 0.005417 | | 62 | 0.005846 | | 63 | 0.006320 | | 64 | 0.006854 | | 65 | 0.007461 | | 66 | 0.008159 | | 67 | 0.008965 | | 68 | 0.009903 | | 69 | 0.010984 | | 70 | 0.012233 | | 71 | 0.013664 | | 72 | 0.015301 | | 73 | 0.017154 | | 74 | 0.019234 | | 75 | 0.021562 | | 76 | 0.024143 | | 77 | 0.027006 | | 78 | 0.030141 | | 79 | 0.033575 | | 80 | 0.037309 | | 81 | 0.041356 | | 82 | 0.045723 | | 83 | 0.050420 | | 84 | 0.055441 | | 85 | 0.060794 | | 86 | 0.066771 | | 87 | 0.073400 | | 88 | 0.080241 | | 89 | 0.087848 | | 90 | 0.095661 | | 91 | 0.104407 | | 92 | 0.113321 | | 93 | 0.123341 | | 94 | 0.133532 | | 95 | 0.145010 | | 96 | 0.158738 | | 97 | 0.173545 | | 98 | 0.190336 | | 99 | 0.207676 | | 100 | 0.226228 | | 101 | 0.257179 | | 102 | 0.291225 | | 103 | 0.329914 | | 104 | 0.374793 | | 105 | 0.428183 | | 106 | 0.493180 | | 107 | 0.574426 | | 108 | 0.678885 | | 109 | 0.815843 | | 110 | 1.000000 |

Table No. 53

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM AND POLICE AND FIRE RETIREMENT SYSTEM

BENEFICIARY MORTALITY

EFFECTIVE OCTOBER 15, 2015

| Agex | qx | | --- | --- | | | | | 1 | 0.000361 | | 2 | 0.000361 | | 3 | 0.000361 | | 4 | 0.000361 | | 5 | 0.000361 | | 6 | 0.000361 | | 7 | 0.000361 | | 8 | 0.000361 | | 9 | 0.000361 | | 10 | 0.000361 | | 11 | 0.000361 | | 12 | 0.000361 | | 13 | 0.000361 | | 14 | 0.000361 | | 15 | 0.000361 | | 16 | 0.000361 | | 17 | 0.000361 | | 18 | 0.000361 | | 19 | 0.000361 | | 20 | 0.000361 | | 21 | 0.000361 | | 22 | 0.000361 | | 23 | 0.000361 | | 24 | 0.000361 | | 25 | 0.000361 | | 26 | 0.000361 | | 27 | 0.000361 | | 28 | 0.000361 | | 29 | 0.000361 | | 30 | 0.000361 | | 31 | 0.000366 | | 32 | 0.000387 | | 33 | 0.000424 | | 34 | 0.000475 | | 35 | 0.000647 | | 36 | 0.000819 | | 37 | 0.000991 | | 38 | 0.001163 | | 39 | 0.001335 | | 40 | 0.001508 | | 41 | 0.001573 | | 42 | 0.001645 | | 43 | 0.001727 | | 44 | 0.001821 | | 45 | 0.001932 | | 46 | 0.002062 | | 47 | 0.002214 | | 48 | 0.002402 | | 49 | 0.002623 | | 50 | 0.002880 | | 51 | 0.003169 | | 52 | 0.003491 | | 53 | 0.003849 | | 54 | 0.004235 | | 55 | 0.004642 | | 56 | 0.005060 | | 57 | 0.005423 | | 58 | 0.005778 | | 59 | 0.006128 | | 60 | 0.006476 | | 61 | 0.006832 | | 62 | 0.007205 | | 63 | 0.007604 | | 64 | 0.008036 | | 65 | 0.008511 | | 66 | 0.009035 | | 67 | 0.009611 | | 68 | 0.010247 | | 69 | 0.010954 | | 70 | 0.011739 | | 71 | 0.012619 | | 72 | 0.013611 | | 73 | 0.014727 | | 74 | 0.015991 | | 75 | 0.017411 | | 76 | 0.019013 | | 77 | 0.020823 | | 78 | 0.022859 | | 79 | 0.025142 | | 80 | 0.027701 | | 81 | 0.030563 | | 82 | 0.033765 | | 83 | 0.037336 | | 84 | 0.041296 | | 85 | 0.045683 | | 86 | 0.050679 | | 87 | 0.056326 | | 88 | 0.062425 | | 89 | 0.069323 | | 90 | 0.076603 | | 91 | 0.084717 | | 92 | 0.093175 | | 93 | 0.102562 | | 94 | 0.112278 | | 95 | 0.123011 | | 96 | 0.135791 | | 97 | 0.149520 | | 98 | 0.164870 | | 99 | 0.180736 | | 100 | 0.197711 | | 101 | 0.229803 | | 102 | 0.265104 | | 103 | 0.305218 | | 104 | 0.351751 | | 105 | 0.407109 | | 106 | 0.474501 | | 107 | 0.558741 | | 108 | 0.667050 | | 109 | 0.809055 | | 110 | 1.000000 |

2 CRR-NY App. 10-B Appendix 10-B {#sec-2-crr-ny-app.-10-b omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 10-B}

Table No. 1

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rates – 60 Year Plan

(For persons who become members on or after April 1, 1966)

| Age | Clerical and Administrative | Laborers | Policemen &Firemen | | | | --- | --- | --- | --- | --- | --- | | | Men | Women | Men | Women | | | | | | | | | | 20 & under | 7.26% | 9.12% | 6.81% | 8.19% | 6.01% | | 21 | 7.24 | 9.09 | 6.80 | 8.17 | 6.01 | | 22 | 7.23 | 9.07 | 6.78 | 8.16 | 6.01 | | 23 | 7.21 | 9.05 | 6.78 | 8.15 | 6.02 | | 24 | 7.20 | 9.04 | 6.77 | 8.15 | 6.03 | | 25 | 7.20 | 9.03 | 6.77 | 8.15 | 6.05 | | 26 | 7.19 | 9.03 | 6.78 | 8.15 | 6.08 | | 27 | 7.19 | 9.03 | 6.78 | 8.16 | 6.10 | | 28 | 7.20 | 9.03 | 6.80 | 8.17 | 6.14 | | 29 | 7.20 | 9.04 | 6.81 | 8.19 | 6.17 | | 30 | 7.21 | 9.05 | 6.83 | 8.21 | 6.22 | | 31 | 7.22 | 9.07 | 6.84 | 8.23 | 6.26 | | 32 | 7.24 | 9.08 | 6.87 | 8.26 | 6.31 | | 33 | 7.25 | 9.10 | 6.89 | 8.29 | 6.37 | | 34 | 7.27 | 9.12 | 6.92 | 8.32 | 6.42 | | 35 | 7.29 | 9.15 | 6.95 | 8.36 | 6.48 | | 36 | 7.31 | 9.18 | 6.98 | 8.40 | 6.55 | | 37 | 7.34 | 9.21 | 7.02 | 8.44 | 6.61 | | 38 | 7.36 | 9.24 | 7.05 | 8.48 | 6.68 | | 39 | 7.39 | 9.28 | 7.09 | 8.53 | 6.75 | | 40 | 7.42 | 9.31 | 7.13 | 8.58 | 6.83 | | 41 | 7.45 | 9.35 | 7.17 | 8.63 | 6.90 | | 42 | 7.49 | 9.40 | 7.22 | 8.68 | 6.98 | | 43 | 7.52 | 9.44 | 7.26 | 8.74 | 7.06 | | 44 | 7.56 | 9.49 | 7.31 | 8.80 | 7.15 | | 45 | 7.60 | 9.55 | 7.36 | 8.86 | 7.23 | | 46 | 7.65 | 9.60 | 7.41 | 8.92 | 7.32 | | 47 | 7.69 | 9.66 | 7.47 | 8.98 | 7.40 | | 48 | 7.74 | 9.72 | 7.52 | 9.05 | 7.49 | | 49 | 7.79 | 9.78 | 7.58 | 9.12 | 7.58 | | 50 | 7.85 | 9.85 | 7.64 | 9.19 | 7.67 | | 51 | 7.90 | 9.92 | 7.70 | 9.26 | 7.76 | | 52 | 7.96 | 9.99 | 7.76 | 9.33 | 7.86 | | 53 | 8.02 | 10.07 | 7.83 | 9.41 | 7.95 | | 54 | 8.08 | 10.15 | 7.89 | 9.49 | 8.05 | | 55 | 8.15 | 10.23 | 7.96 | 9.58 | 8.14 | | 56 | 8.22 | 10.31 | 8.03 | 9.66 | 8.24 | | 57 | 8.29 | 10.40 | 8.10 | 9.75 | 8.34 | | 58 | 8.36 | 10.49 | 8.18 | 9.84 | 8.44 | | 59 & over | 8.44 | 10.59 | 8.26 | 9.93 | 8.54 |

Table No. 2

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rates – 55 Year Plan

(For persons who become members on or after April 1, 1966)

| AGE | CLERICAL AND ADMINISTRATIVE | LABORERS | POLICEMEN &FIREMEN | | | | --- | --- | --- | --- | --- | --- | | | Men | Women | Men | Women | | | | | | | | | | 20 & Under | 10.03% | 12.46% | 9.44% | 11.31% | 8.47% | | 21 | 9.99 | 12.41 | 9.41 | 11.27 | 8.46 | | 22 | 9.96 | 12.37 | 9.39 | 11.24 | 8.45 | | 23 | 9.93 | 12.34 | 9.37 | 11.22 | 8.45 | | 24 | 9.91 | 12.32 | 9.36 | 11.21 | 8.46 | | 25 | 9.90 | 12.30 | 9.35 | 11.20 | 8.48 | | 26 | 9.89 | 12.28 | 9.35 | 11.20 | 8.51 | | 27 | 9.88 | 12.28 | 9.36 | 11.20 | 8.54 | | 28 | 9.88 | 12.27 | 9.36 | 11.21 | 8.58 | | 29 | 9.88 | 12.27 | 9.37 | 11.22 | 8.62 | | 30 | 9.88 | 12.28 | 9.39 | 11.24 | 8.67 | | 31 | 9.89 | 12.29 | 9.41 | 11.27 | 8.73 | | 32 | 9.90 | 12.31 | 9.44 | 11.30 | 8.80 | | 33 | 9.92 | 12.32 | 9.47 | 11.33 | 8.86 | | 34 | 9.94 | 12.35 | 9.50 | 11.37 | 8.94 | | 35 | 9.96 | 12.37 | 9.53 | 11.41 | 9.02 | | 36 | 9.98 | 12.40 | 9.57 | 11.46 | 9.10 | | 37 | 10.01 | 12.43 | 9.61 | 11.51 | 9.19 | | 38 | 10.04 | 12.47 | 9.66 | 11.56 | 9.28 | | 39 | 10.07 | 12.51 | 9.71 | 11.62 | 9.37 | | 40 | 10.10 | 12.55 | 9.76 | 11.68 | 9.47 | | 41 | 10.14 | 12.60 | 9.81 | 11.74 | 9.57 | | 42 | 10.18 | 12.65 | 9.86 | 11.81 | 9.67 | | 43 | 10.22 | 12.70 | 9.92 | 11.88 | 9.78 | | 44 | 10.27 | 12.76 | 9.98 | 11.95 | 9.89 | | 45 | 10.32 | 12.82 | 10.04 | 12.02 | 10.01 | | 46 | 10.37 | 12.88 | 10.11 | 12.10 | 10.12 | | 47 | 10.42 | 12.95 | 10.17 | 12.18 | 10.24 | | 48 | 10.48 | 13.02 | 10.24 | 12.26 | 10.36 | | 49 | 10.54 | 13.10 | 10.31 | 12.35 | 10.48 | | 50 | 10.61 | 13.18 | 10.39 | 12.44 | 10.60 | | 51 | 10.67 | 13.26 | 10.46 | 12.53 | 10.72 | | 52 | 10.74 | 13.35 | 10.54 | 12.62 | 10.85 | | 53 | 10.82 | 13.44 | 10.62 | 12.72 | 10.98 | | 54 & over | 10.89 | 13.54 | 10.71 | 12.82 | 11.10 |

Table No. 3

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate — 25 Year Police —½ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 20 | 14.26% | | | | | | | | 21 | 13.77 | 14.20% | | | | | | | 22 | 13.31 | 13.73 | 14.15% | | | | | | 23 | 12.87 | 13.28 | 13.70 | 14.11% | | | | | 24 | 12.46 | 12.86 | 13.27 | 13.68 | 14.09% | | | | 25 | 12.07 | 12.47 | 12.87 | 13.27 | 13.68 | 14.09% | | | 26 | 11.70 | 12.09 | 12.49 | 12.88 | 13.29 | 13.69 | 14.09% | | 27 | 11.35 | 11.74 | 12.12 | 12.52 | 12.91 | 13.31 | 13.71 | | 28 | 11.02 | 11.40 | 11.78 | 12.17 | 12.56 | 12.95 | 13.35 | | 29 | 10.71 | 11.08 | 11.45 | 11.83 | 12.22 | 12.61 | 13.00 | | 30 | 10.41 | 10.77 | 11.14 | 11.51 | 11.89 | 12.28 | 12.67 | | 31 | 10.12 | 11.48 | 10.84 | 11.21 | 11.58 | 11.96 | 12.35 | | 32 | 9.85 | 10.20 | 10.55 | 10.92 | 11.29 | 11.66 | 12.04 | | 33 | 9.58 | 9.93 | 10.28 | 10.64 | 11.00 | 11.37 | 11.75 | | 34 | 9.32 | 9.66 | 10.01 | 10.37 | 10.72 | 11.09 | 11.46 | | 35 | 9.08 | 9.41 | 9.75 | 10.10 | 10.46 | 10.82 | 11.19 | | 36 | 9.16 | 9.16 | 9.50 | 9.85 | 10.20 | 10.55 | 10.92 | | 37 | 9.26 | 9.26 | 9.26 | 9.60 | 9.94 | 10.30 | 10.66 | | 38 | 9.35 | 9.35 | 9.35 | 9.35 | 9.70 | 10.05 | 10.40 | | 39 | 9.45 | 9.45 | 9.45 | 9.45 | 9.45 | 9.80 | 10.15 | | 40 | 9.56 | 9.56 | 9.56 | 9.56 | 9.56 | 9.56 | 9.91 | | 41 | 9.67 | 9.67 | 9.67 | 9.67 | 9.67 | 9.67 | 9.67 | | 42 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | | 43 | 9.89 | 9.89 | 9.89 | 9.89 | 9.89 | 9.89 | 9.89 | | 44 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | | 45 | 10.12 | 10.12 | 10.12 | 10.12 | 10.12 | 10.12 | 10.12 | | 46 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | 10.44 | | 47 | 10.36 | 10.39 | 10.36 | 10.36 | 10.36 | 10.36 | 10.36 | | 48 | 10.49 | 10.49 | 10.49 | 10.49 | 10.49 | 10.49 | 10.49 | | 49 | 10.61 | 10.61 | 10.02 | 10.61 | 10.61 | 10.61 | 10.61 | | 50 | 10.74 | 10.74 | 10.74 | 10.74 | 10.74 | 10.74 | 10.74 | | 51 | 10.87 | 10.87 | 10.87 | 10.87 | 10.87 | 10.87 | 10.87 | | 52 | 11.00 | 11.00 | 11.00 | 11.00 | 11.00 | 11.00 | 11.00 | | 53 | 11.13 | 11.13 | 11.13 | 11.13 | 11.13 | 11.13 | 11.23 | | 54 | 11.27 | 11.27 | 11.27 | 11.27 | 11.27 | 11.27 | 11.27 | | 55 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | | 56 | 11.54 | 11.54 | 11.54 | 11.54 | 11.54 | 11.54 | 11.34 | | 57 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | | 58 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | | 59 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 |

Table No. 4

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate — 25 Year Police —½ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | 14.11% | | | | | | | | 28 | 13.75 | 14.14% | | | | | | | 29 | 13.40 | 13.79 | 14.19% | | | | | | 30 | 13.06 | 13.45 | 13.85 | 14.24% | | | | | 31 | 12.74 | 13.13 | 13.52 | 13.92 | 14.31% | | | | 32 | 12.43 | 12.82 | 13.21 | 13.60 | 13.99 | 14.38% | | | 33 | 12.13 | 12.51 | 12.90 | 13.29 | 13.69 | 14.08 | 14.47% | | 34 | 11.84 | 12.22 | 12.61 | 13.00 | 13.39 | 13.78 | 14.17 | | 35 | 11.56 | 11.94 | 12.32 | 12.71 | 13.10 | 13.49 | 13.88 | | 36 | 11.29 | 11.66 | 12.04 | 12.43 | 12.81 | 13.21 | 13.60 | | 37 | 11.02 | 11.39 | 11.77 | 12.15 | 12.54 | 12.93 | 13.32 | | 38 | 10.76 | 11.13 | 11.50 | 11.88 | 12.27 | 12.66 | 13.05 | | 39 | 10.51 | 10.87 | 11.24 | 11.62 | 12.00 | 12.39 | 12.78 | | 40 | 10.26 | 10.62 | 10.99 | 11.36 | 11.74 | 12.12 | 12.51 | | 41 | 10.02 | 10.37 | 10.74 | 11.11 | 11.48 | 11.87 | 12.25 | | 42 | 9.78 | 10.13 | 10.49 | 10.86 | 11.23 | 11.61 | 11.99 | | 43 | 9.89 | 9.89 | 10.25 | 10.61 | 10.98 | 11.36 | 11.74 | | 44 | 10.00 | 10.00 | 10.00 | 10.36 | 10.73 | 11.11 | 11.49 | | 45 | 10.12 | 10.12 | 10.12 | 10.12 | 10.49 | 10.86 | 11.23 | | 46 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | 10.61 | 10.98 | | 47 | 10.36 | 10.36 | 10.36 | 10.36 | 10.36 | 10.36 | 10.73 | | 48 | 10.49 | 10.49 | 10.49 | 10.49 | 10.49 | 10.49 | 10.49 | | 49 | 10.61 | 10.61 | 10.61 | 10.61 | 10.61 | 10.61 | 10.61 | | 50 | 10.74 | 10.74 | 10.74 | 10.74 | 10.74 | 10.74 | 10.74 | | 51 | 10.87 | 10.87 | 10.87 | 10.87 | 10.87 | 10.87 | 10.87 | | 52 | 11.00 | 11.00 | 11.00 | 11.00 | 11.00 | 11.00 | 11.00 | | 53 | 11.13 | 11.13 | 11.13 | 11.13 | 11.13 | 11.13 | 11.13 | | 54 | 11.27 | 11.27 | 11.27 | 11.27 | 11.27 | 11.27 | 11.27 | | 55 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | | 56 | 11.54 | 11.54 | 11.54 | 11.54 | 11.54 | 11.54 | 11.54 | | 57 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | | 58 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | | 59 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 |

Table No. 5

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate — 25 Year Police —½ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | 20 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 28 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | 14.56% | | | | | | | | 35 | 14.27 | 14.66% | | | | | | | 36 | 13.99 | 14.38 | 14.77% | | | | | | 37 | 13.71 | 14.11 | 14.50 | 14.89% | | | | | 38 | 13.44 | 13.84 | 14.23 | 14.63 | 15.01% | | | | 39 | 13.17 | 13.57 | 13.96 | 14.36 | 14.76 | 15.15% | | | 40 | 12.91 | 13.30 | 13.70 | 14.10 | 14.50 | 14.89 | 15.28% | | 41 | 12.64 | 13.04 | 13.44 | 13.84 | 14.24 | 14.64 | 15.04 | | 42 | 12.38 | 12.78 | 13.18 | 13.58 | 13.98 | 14.38 | 14.78 | | 43 | 12.13 | 12.52 | 12.92 | 13.32 | 13.72 | 14.13 | 14.53 | | 44 | 11.87 | 12.26 | 12.66 | 13.06 | 13.46 | 13.87 | 14.28 | | 45 | 11.62 | 12.01 | 12.40 | 12.80 | 13.20 | 13.61 | 14.02 | | 46 | 11.37 | 11.75 | 12.14 | 12.54 | 12.94 | 13.35 | 13.76 | | 47 | 11.11 | 11.50 | 11.89 | 12.28 | 12.69 | 13.09 | 13.50 | | 48 | 10.86 | 11.24 | 11.63 | 12.03 | 12.43 | 12.83 | 13.24 | | 49 | 10.61 | 10.99 | 11.38 | 11.77 | 12.17 | 12.57 | 12.98 | | 50 | 10.74 | 10.74 | 11.12 | 11.51 | 11.91 | 12.31 | 12.72 | | 51 | 10.87 | 10.87 | 10.87 | 11.26 | 11.65 | 12.05 | 12.46 | | 52 | 11.00 | 11.00 | 11.00 | 11.00 | 11.39 | 11.79 | 12.19 | | 53 | 11.13 | 11.13 | 11.13 | 11.13 | 11.13 | 11.53 | 11.93 | | 54 | 11.27 | 11.27 | 11.27 | 11.27 | 11.27 | 11.27 | 11.67 | | 55 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | 11.40 | | 56 | 11.54 | 11.54 | 11.54 | 11.54 | 11.54 | 11.54 | 11.54 | | 57 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | 11.68 | | 58 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | 11.82 | | 59 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 | 11.96 |

Table No. 6

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate — 25 Year Police —½ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 21 | 22 | 23 | 24 | | | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | | | | | | | | | 35 | | | | | | | | | 36 | | | | | | | | | 37 | | | | | | | | | 38 | | | | | | | | | 39 | | | | | | | | | 40 | | | | | | | | | 41 | 15.43% | | | | | | | | 42 | 15.18 | 15.58% | | | | | | | 43 | 14.93 | 15.34 | 15.73% | | | | | | 44 | 14.68 | 15.09 | 15.49 | 15.89% | | | | | 45 | 14.43 | 14.84 | 15.25 | 15.66 | | | | | 46 | 14.17 | 14.59 | 15.00 | 15.41 | | | | | 47 | 13.92 | 14.33 | 14.75 | 15.17 | | | | | 48 | 13.66 | 14.07 | 14.49 | 14.91 | | | | | 49 | 13.39 | 13.81 | 14.23 | 14.66 | | | | | 50 | 13.13 | 13.55 | 13.97 | 14.40 | | | | | 51 | 12.87 | 13.28 | 13.71 | 14.13 | | | | | 52 | 12.60 | 13.02 | 13.44 | 13.86 | | | | | 53 | 12.34 | 12.75 | 13.17 | 13.59 | | | | | 54 | 12.07 | 12.48 | 12.90 | 13.33 | | | | | 55 | 11.80 | 12.21 | 12.63 | 13.05 | | | | | 56 | 11.54 | 11.95 | 12.36 | 12.78 | | | | | 57 | 11.68 | 11.68 | 12.09 | 12.51 | | | | | 58 | 11.82 | 11.82 | 11.82 | 12.23 | | | | | 59 | 11.96 | 11.96 | 11.96 | 11.96 | | | |

Table No. 7

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate — 25 Year Police —¾ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 20 | 10.14% | | | | | | | | 21 | 9.89 | 10.10% | | | | | | | 22 | 9.66 | 9.87 | 10.08% | | | | | | 23 | 9.44 | 9.64 | 9.86 | 10.06% | | | | | 24 | 9.24 | 9.44 | 9.64 | 9.84 | 10.05% | | | | 25 | 9.06 | 9.25 | 9.44 | 9.64 | 9.84 | 10.05% | | | 26 | 8.89 | 9.07 | 9.26 | 9.45 | 9.65 | 9.85 | 10.05% | | 27 | 8.72 | 8.91 | 9.08 | 9.28 | 9.46 | 9.66 | 9.86 | | 28 | 8.58 | 8.75 | 8.93 | 9.11 | 9.30 | 9.48 | 9.68 | | 29 | 8.44 | 8.61 | 8.78 | 8.96 | 9.14 | 9.32 | 9.51 | | 30 | 8.32 | 8.47 | 8.64 | 8.80 | 8.98 | 9.16 | 9.35 | | 31 | 8.19 | 8.35 | 8.50 | 8.68 | 8.84 | 9.02 | 9.20 | | 32 | 8.08 | 8.23 | 8.38 | 8.54 | 8.72 | 8.88 | 9.06 | | 33 | 7.98 | 8.12 | 8.27 | 8.43 | 8.58 | 8.76 | 8.92 | | 34 | 7.87 | 8.02 | 8.16 | 8.32 | 8.47 | 8.63 | 8.80 | | 35 | 7.78 | 7.92 | 8.06 | 8.20 | 8.36 | 8.52 | 8.68 | | 36 | 7.86 | 7.82 | 7.96 | 8.11 | 8.26 | 8.40 | 8.57 | | 37 | 7.94 | 7.90 | 7.87 | 8.01 | 8.16 | 8.30 | 8.46 | | 38 | 8.02 | 7.98 | 7.95 | 7.92 | 8.06 | 8.21 | 8.36 | | 39 | 8.10 | 8.06 | 8.03 | 8.00 | 7.96 | 8.11 | 8.26 | | 40 | 8.20 | 8.16 | 8.12 | 8.08 | 8.06 | 8.02 | 8.16 | | 41 | 8.28 | 8.25 | 8.21 | 8.18 | 8.14 | 8.11 | 8.08 | | 42 | 8.38 | 8.34 | 8.30 | 8.26 | 8.23 | 8.20 | 8.16 | | 43 | 8.48 | 8.44 | 8.40 | 8.36 | 8.32 | 8.28 | 8.25 | | 44 | 8.58 | 8.53 | 8.49 | 8.45 | 8.42 | 8.38 | 8.34 | | 45 | 8.68 | 8.64 | 8.59 | 8.55 | 8.51 | 8.48 | 8.44 | | 46 | 8.78 | 8.74 | 8.70 | 8.65 | 8.61 | 8.57 | 8.54 | | 47 | 8.88 | 8.84 | 8.80 | 8.76 | 8.71 | 8.67 | 8.63 | | 48 | 8.99 | 8.94 | 8.90 | 8.86 | 8.82 | 8.78 | 8.74 | | 49 | 9.10 | 9.05 | 9.00 | 8.96 | 8.92 | 8.88 | 8.84 | | 50 | 9.20 | 9.16 | 9.12 | 9.07 | 9.03 | 8.98 | 8.94 | | 51 | 9.32 | 9.27 | 9.22 | 9.18 | 9.14 | 9.10 | 9.05 | | 52 | 9.43 | 9.38 | 9.34 | 9.29 | 9.24 | 9.20 | 9.16 | | 53 | 9.54 | 9.50 | 9.44 | 9.40 | 9.36 | 9.31 | 9.26 | | 54 | 9.66 | 9.61 | 9.56 | 9.52 | 9.47 | 9.42 | 9.38 | | 55 | 9.77 | 9.72 | 9.68 | 9.63 | 9.58 | 9.54 | 9.49 | | 56 | 9.89 | 9.84 | 9.80 | 9.74 | 9.70 | 9.65 | 9.60 | | 57 | 10.01 | 9.96 | 9.91 | 9.86 | 9.82 | 9.77 | 9.72 | | 58 | 10.13 | 10.08 | 10.03 | 9.98 | 9.94 | 9.88 | 9.84 | | 59 | 10.25 | 10.20 | 10.15 | 10.10 | 10.05 | 10.00 | 9.96 |

Table No. 8

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate — 25 Year Police —¾ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | 10.06% | | | | | | | | 28 | 9.88 | 10.08% | | | | | | | 29 | 9.70 | 9.90 | 10.10% | | | | | | 30 | 9.54 | 9.73 | 9.93 | 10.12% | | | | | 31 | 9.38 | 9.58 | 9.76 | 9.96 | 10.16% | | | | 32 | 9.24 | 9.42 | 9.62 | 9.80 | 10.00 | 10.20% | | | 33 | 9.10 | 9.28 | 9.46 | 9.66 | 9.85 | 10.04 | 10.24% | | 34 | 8.97 | 9.15 | 9.33 | 9.52 | 9.70 | 9.90 | 10.09 | | 35 | 8.85 | 9.02 | 9.20 | 9.38 | 9.56 | 9.76 | 9.94 | | 36 | 8.73 | 8.90 | 9.07 | 9.26 | 9.43 | 9.62 | 9.81 | | 37 | 8.62 | 8.78 | 8.96 | 9.12 | 9.31 | 9.49 | 9.68 | | 38 | 8.51 | 8.68 | 8.84 | 9.01 | 9.18 | 9.37 | 9.55 | | 39 | 8.41 | 8.56 | 8.73 | 8.90 | 9.07 | 9.24 | 9.43 | | 40 | 8.32 | 8.46 | 8.62 | 8.79 | 8.96 | 9.13 | 9.30 | | 41 | 8.22 | 8.37 | 8.52 | 8.68 | 8.85 | 9.02 | 9.20 | | 42 | 8.13 | 8.28 | 8.43 | 8.58 | 8.74 | 8.92 | 9.08 | | 43 | 8.22 | 8.18 | 8.34 | 8.49 | 8.64 | 8.81 | 8.98 | | 44 | 8.30 | 8.28 | 8.24 | 8.39 | 8.55 | 8.71 | 8.88 | | 45 | 8.40 | 8.36 | 8.34 | 8.30 | 8.46 | 8.62 | 8.77 | | 46 | 8.50 | 8.46 | 8.42 | 8.40 | 8.36 | 8.52 | 8.68 | | 47 | 8.60 | 8.56 | 8.52 | 8.48 | 8.46 | 8.42 | 8.58 | | 48 | 8.70 | 8.66 | 8.62 | 8.58 | 8.55 | 8.52 | 8.48 | | 49 | 8.80 | 8.76 | 8.72 | 8.68 | 8.64 | 8.61 | 8.58 | | 50 | 8.90 | 8.86 | 8.82 | 8.78 | 8.74 | 8.71 | 8.68 | | 51 | 9.01 | 8.96 | 8.92 | 8.88 | 8.85 | 8.81 | 8.78 | | 52 | 9.12 | 9.08 | 9.03 | 8.99 | 8.95 | 8.92 | 8.88 | | 53 | 9.22 | 9.18 | 9.14 | 9.10 | 9.06 | 9.02 | 8.98 | | 54 | 9.34 | 9.30 | 9.25 | 9.21 | 9.16 | 9.12 | 9.08 | | 55 | 9.44 | 9.40 | 9.36 | 9.32 | 9.28 | 9.23 | 9.19 | | 56 | 9.56 | 9.52 | 9.47 | 9.43 | 9.38 | 9.34 | 9.30 | | 57 | 9.68 | 9.63 | 9.58 | 9.54 | 9.50 | 9.46 | 9.42 | | 58 | 9.79 | 9.74 | 9.70 | 9.66 | 9.61 | 9.57 | 9.52 | | 59 | 9.91 | 9.86 | 9.82 | 9.77 | 9.72 | 9.68 | 9.64 |

Table No. 9

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate — 25 Year Police —¾ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | 20 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | 10.28% | | | | | | | | 35 | 10.14 | 10.34% | | | | | | | 36 | 10.00 | 10.20 | 10.39% | | | | | | 37 | 9.86 | 10.06 | 10.26 | 10.45% | | | | | 38 | 9.74 | 9.93 | 10.12 | 10.32 | 10.51% | | | | 39 | 9.61 | 9.80 | 9.99 | 10.18 | 10.38 | 10.58% | | | 40 | 9.50 | 9.68 | 9.86 | 10.06 | 10.26 | 10.45 | 10.64% | | 41 | 9.37 | 9.56 | 9.74 | 9.94 | 10.13 | 10.32 | 10.52 | | 42 | 9.26 | 9.44 | 9.63 | 9.82 | 10.00 | 10.20 | 10.40 | | 43 | 9.15 | 9.33 | 9.51 | 9.70 | 9.88 | 10.08 | 10.28 | | 44 | 9.04 | 9.22 | 9.40 | 9.58 | 9.77 | 9.96 | 10.16 | | 45 | 8.94 | 9.12 | 9.28 | 9.47 | 9.65 | 9.84 | 10.04 | | 46 | 8.84 | 9.00 | 9.18 | 9.36 | 9.54 | 9.72 | 9.92 | | 47 | 8.74 | 8.90 | 9.08 | 9.25 | 9.43 | 9.62 | 9.80 | | 48 | 8.64 | 8.80 | 8.97 | 9.14 | 9.32 | 9.50 | 9.69 | | 49 | 8.54 | 8.70 | 8.88 | 9.04 | 9.22 | 9.40 | 9.58 | | 50 | 8.64 | 8.61 | 8.77 | 8.94 | 9.11 | 9.28 | 9.47 | | 51 | 8.74 | 8.71 | 8.68 | 8.84 | 9.01 | 9.18 | 9.36 | | 52 | 8.84 | 8.80 | 8.78 | 8.74 | 8.90 | 9.08 | 9.25 | | 53 | 8.94 | 8.90 | 8.87 | 8.84 | 8.80 | 8.98 | 9.15 | | 54 | 9.05 | 9.01 | 8.98 | 8.94 | 8.91 | 8.88 | 9.04 | | 55 | 9.15 | 9.12 | 9.08 | 9.04 | 9.00 | 8.98 | 8.94 | | 56 | 9.26 | 9.22 | 9.18 | 9.14 | 9.11 | 9.08 | 9.04 | | 57 | 9.37 | 9.33 | 9.29 | 9.26 | 9.22 | 9.18 | 9.14 | | 58 | 9.48 | 9.44 | 9.40 | 9.36 | 9.32 | 9.28 | 9.25 | | 59 | 9.60 | 9.56 | 9.51 | 9.47 | 9.43 | 9.40 | 9.36 |

Table No. 10

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate—25 Year Police—¾ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 21 | 22 | 23 | 24 | | | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | | | | | | | | | 35 | | | | | | | | | 36 | | | | | | | | | 37 | | | | | | | | | 38 | | | | | | | | | 39 | | | | | | | | | 40 | | | | | | | | | 41 | 10.72% | | | | | | | | 42 | 10.60 | 10.80% | | | | | | | 43 | 10.47 | 10.68 | 10.87% | | | | | | 44 | 10.35 | 10.55 | 10.75 | 10.95% | | | | | 45 | 10.23 | 10.43 | 10.63 | 10.84 | | | | | 46 | 10.11 | 10.31 | 10.51 | 10.71 | | | | | 47 | 10.00 | 10.19 | 10.39 | 10.60 | | | | | 48 | 9.88 | 10.08 | 10.27 | 10.47 | | | | | 49 | 9.76 | 9.96 | 10.16 | 10.36 | | | | | 50 | 9.65 | 9.84 | 10.04 | 10.24 | | | | | 51 | 9.54 | 9.72 | 9.92 | 10.12 | | | | | 52 | 9.43 | 9.62 | 9.80 | 10.00 | | | | | 53 | 9.32 | 9.50 | 9.70 | 9.88 | | | | | 54 | 9.22 | 9.40 | 9.58 | 9.78 | | | | | 55 | 9.11 | 9.29 | 9.47 | 9.66 | | | | | 56 | 9.01 | 9.18 | 9.36 | 9.54 | | | | | 57 | 9.12 | 9.08 | 9.26 | 9.44 | | | | | 58 | 9.22 | 9.18 | 9.15 | 9.32 | | | | | 59 | 9.32 | 9.28 | 9.26 | 9.22 | | | |

Table No. 13

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 20 | 20.53% | | | | | | | | 21 | 19.88 | 20.40% | | | | | | | 22 | 19.26 | 19.78 | 20.29% | | | | | | 23 | 18.68 | 19.20 | 19.71 | 20.21% | | | | | 24 | 18.13 | 18.65 | 19.15 | 19.65 | 20.14% | | | | 25 | 17.61 | 18.12 | 18.62 | 19.12 | 19.61 | 20.10% | | | 26 | 17.11 | 17.62 | 18.12 | 18.62 | 19.11 | 19.60 | 20.07% | | 27 | 16.64 | 17.14 | 17.64 | 18.14 | 18.63 | 19.12 | 19.60 | | 28 | 16.19 | 16.69 | 17.19 | 17.68 | 18.17 | 18.67 | 19.15 | | 29 | 15.76 | 16.25 | 16.75 | 17.24 | 17.73 | 18.23 | 18.71 | | 30 | 15.35 | 15.84 | 16.32 | 16.82 | 17.31 | 17.80 | 18.29 | | 31 | 14.96 | 15.44 | 15.92 | 16.41 | 16.90 | 17.40 | 17.88 | | 32 | 14.58 | 15.05 | 15.53 | 16.02 | 16.51 | 17.00 | 17.49 | | 33 | 14.21 | 14.68 | 15.16 | 15.64 | 16.13 | 16.62 | 17.11 | | 34 | 13.86 | 14.33 | 14.80 | 15.28 | 15.76 | 16.25 | 16.73 | | 35 | 13.52 | 13.98 | 14.45 | 14.92 | 15.40 | 15.88 | 16.37 | | 36 | 13.19 | 13.65 | 14.11 | 14.58 | 15.05 | 15.53 | 16.02 | | 37 | 12.87 | 13.32 | 13.78 | 14.24 | 14.71 | 15.19 | 15.67 | | 38 | 12.56 | 13.00 | 13.45 | 13.91 | 14.38 | 14.85 | 15.33 | | 39 | 12.25 | 12.69 | 13.14 | 13.59 | 14.06 | 14.53 | 15.00 | | 40 | 11.95 | 12.38 | 12.83 | 13.28 | 13.74 | 14.20 | 14.68 | | 41 | 11.65 | 12.08 | 12.52 | 12.97 | 13.42 | 13.89 | 14.36 | | 42 | 11.36 | 11.78 | 12.22 | 12.66 | 13.11 | 13.57 | 14.04 | | 43 | 11.49 | 11.49 | 11.92 | 12.36 | 12.81 | 13.26 | 13.73 | | 44 | 11.63 | 11.63 | 11.63 | 12.06 | 12.50 | 12.96 | 13.41 | | 45 | 11.77 | 11.77 | 11.77 | 11.77 | 12.20 | 12.65 | 13.11 | | 46 | 11.91 | 11.91 | 11.91 | 11.91 | 11.91 | 12.35 | 12.80 | | 47 | 12.05 | 12.05 | 12.05 | 12.05 | 12.05 | 12.05 | 12.50 | | 48 | 12.20 | 12.20 | 12.20 | 12.20 | 12.20 | 12.20 | 12.20 | | 49 | 12.35 | 12.35 | 12.35 | 12.35 | 12.35 | 12.35 | 12.35 | | 50 | 12.50 | 12.50 | 12.50 | 12.50 | 12.50 | 12.50 | 12.50 | | 51 | 12.65 | 12.65 | 12.65 | 12.65 | 12.65 | 12.65 | 12.65 | | 52 | 12.80 | 12.80 | 12.80 | 12.80 | 12.80 | 12.80 | 12.80 | | 53 | 12.96 | 12.96 | 12.96 | 12.96 | 12.96 | 12.96 | 12.96 | | 54 | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | | 55 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | | 56 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | | 57 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | | 58 | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | | 59 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | | 60 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | | 61 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 |

Table No. 14

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Member's Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SEFVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | 20.07% | | | | | | | | 28 | 19.62 | 20.08% | | | | | | | 29 | 19.19 | 19.65 | 20.11% | | | | | | 30 | 18.77 | 19.24 | 19.71 | 20.16% | | | | | 31 | 18.37 | 18.85 | 19.32 | 19.78 | 20.22% | | | | 32 | 17.98 | 18.46 | 18.94 | 19.40 | 19.86 | 20.30% | | | 33 | 17.60 | 18.08 | 18.56 | 19.04 | 19.50 | 19.96 | 20.39% | | 34 | 17.22 | 17.72 | 18.20 | 18.68 | 19.15 | 19.62 | 20.07 | | 35 | 16.86 | 17.35 | 17.84 | 18.33 | 18.81 | 19.28 | 19.74 | | 36 | 16.51 | 17.00 | 17.49 | 17.98 | 18.46 | 18.95 | 19.42 | | 37 | 16.16 | 16.65 | 17.14 | 17.64 | 18.13 | 18.61 | 19.09 | | 38 | 15.82 | 16.31 | 16.80 | 17.29 | 17.79 | 18.28 | 18.77 | | 39 | 15.48 | 15.97 | 16.46 | 16.96 | 17.45 | 17.95 | 18.45 | | 40 | 15.16 | 15.64 | 16.13 | 16.63 | 17.13 | 17.62 | 18.12 | | 41 | 14.83 | 15.32 | 15.80 | 16.30 | 16.80 | 17.30 | 17.80 | | 42 | 14.51 | 14.99 | 15.48 | 15.97 | 16.47 | 16.97 | 17.47 | | 43 | 14.20 | 14.67 | 15.16 | 15.65 | 16.14 | 16.65 | 17.15 | | 44 | 13.88 | 14.36 | 14.84 | 15.33 | 15.82 | 16.32 | 16.83 | | 45 | 13.57 | 14.04 | 14.52 | 15.01 | 15.50 | 16.00 | 16.50 | | 46 | 13.26 | 13.73 | 14.21 | 14.69 | 15.18 | 15.68 | 16.18 | | 47 | 12.95 | 13.42 | 13.89 | 14.37 | 14.86 | 15.36 | 15.86 | | 48 | 12.65 | 13.11 | 13.58 | 14.06 | 14.54 | 15.03 | 15.53 | | 49 | 12.35 | 12.80 | 13.27 | 13.74 | 14.22 | 14.71 | 15.21 | | 50 | 12.50 | 12.50 | 12.96 | 13.43 | 13.90 | 14.39 | 14.89 | | 51 | 12.65 | 12.65 | 12.65 | 13.11 | 13.59 | 14.07 | 14.56 | | 52 | 12.80 | 12.80 | 12.80 | 12.80 | 13.27 | 13.75 | 14.24 | | 53 | 12.96 | 12.96 | 12.96 | 12.96 | 12.96 | 13.43 | 13.92 | | 54 | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | 13.59 | | 55 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | | 56 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | | 57 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | | 58 | 13.76 | 13.76 | 13.76 | 13.76 | 13.75 | 13.76 | 13.76 | | 59 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | | 60 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | | 61 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 |

Table No. 15

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Member's Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SEFVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | 20.50% | | | | | | | | 35 | 20.19 | 20.62% | | | | | | | 36 | 19.88 | 20.32 | 20.75% | | | | | | 37 | 19.56 | 20.02 | 20.47 | 20.90% | | | | | 38 | 19.25 | 19.72 | 20.18 | 20.62 | 21.05% | | | | 39 | 18.93 | 19.41 | 19.89 | 20.34 | 20.79 | 21.21% | | | 40 | 18.62 | 19.10 | 19.59 | 20.06 | 20.52 | 20.96 | | | 41 | 18.30 | 18.79 | 19.28 | 19.77 | 20.24 | 20.70 | | | 42 | 17.98 | 18.48 | 18.98 | 19.47 | 19.96 | 20.43 | | | 43 | 17.66 | 18.16 | 18.67 | 19.17 | 19.66 | 20.15 | | | 44 | 17.33 | 17.85 | 18.35 | 18.86 | 19.37 | 19.86 | | | 45 | 17.01 | 17.52 | 18.04 | 18.55 | 19.06 | 19.57 | | | 46 | 16.69 | 17.20 | 17.72 | 18.24 | 18.70 | 19.27 | | | 47 | 16.37 | 16.88 | 17.40 | 17.92 | 18.44 | 18.96 | | | 48 | 16.04 | 16.55 | 17.07 | 17.59 | 18.12 | 18.64 | | | 49 | 15.72 | 16.23 | 16.74 | 17.26 | 17.79 | 18.32 | | | 50 | 15.39 | 15.90 | 16.41 | 16.94 | 17.46 | 17.99 | | | 51 | 15.06 | 15.57 | 16.08 | 16.60 | 17.13 | 17.66 | | | 52 | 14.74 | 15.24 | 15.75 | 16.27 | 16.80 | 17.33 | | | 53 | 14.41 | 14.91 | 15.42 | 15.94 | 16.46 | 16.99 | | | 54 | 14.08 | 14.58 | 15.09 | 15.60 | 16.13 | 16.66 | | | 55 | 13.76 | 14.25 | 14.76 | 15.27 | 15.79 | 16.32 | | | 56 | 13.43 | 13.92 | 14.42 | 14.93 | 15.45 | 15.98 | | | 57 | 13.60 | 13.60 | 14.09 | 14.60 | 15.11 | 15.63 | | | 58 | 13.76 | 13.76 | 13.76 | 14.26 | 14.77 | 15.29 | | | 59 | 13.93 | 13.93 | 13.93 | 13.93 | 14.43 | 14.95 | | | 60 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | 14.61 | | | 61 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 | |

Table No. 16

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Member's Contribution Rate – 20 Year Police or Fire–¾ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SEFVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 20 | 13.27% | | | | | | | | 21 | 12.94 | 13.20% | | | | | | | 22 | 12.64 | 12.90 | 13.15% | | | | | | 23 | 12.35 | 12.60 | 13.86 | 13.11% | | | | | 24 | 12.08 | 12.34 | 12.58 | 12.83 | 13.08% | | | | 25 | 11.83 | 12.08 | 12.32 | 12.56 | 12.81 | 13.06% | | | 26 | 11.60 | 11.84 | 12.08 | 12.32 | 12.56 | 12.80 | 13.04% | | 27 | 11.37 | 11.61 | 11.84 | 12.08 | 12.32 | 12.56 | 12.80 | | 28 | 11.16 | 11.40 | 11.64 | 11.86 | 12.10 | 12.34 | 12.58 | | 29 | 10.96 | 11.20 | 11.42 | 11.66 | 11.89 | 12.13 | 12.36 | | 30 | 10.78 | 11.00 | 11.23 | 11.46 | 11.70 | 11.92 | 12.16 | | 31 | 10.61 | 10.83 | 11.04 | 11.28 | 11.50 | 11.74 | 11.96 | | 32 | 10.44 | 10.66 | 10.88 | 11.10 | 11.32 | 11.55 | 11.78 | | 33 | 10.29 | 10.50 | 10.71 | 10.93 | 11.15 | 11.38 | 11.60 | | 34 | 10.14 | 10.35 | 10.56 | 10.77 | 10.99 | 11.21 | 11.44 | | 35 | 10.00 | 10.20 | 10.41 | 10.62 | 10.83 | 11.05 | 11.27 | | 36 | 9.87 | 10.06 | 10.26 | 10.48 | 10.68 | 10.90 | 11.12 | | 37 | 9.74 | 9.94 | 10.13 | 10.33 | 10.54 | 10.75 | 10.96 | | 38 | 9.62 | 9.80 | 10.00 | 10.20 | 10.40 | 10.61 | 10.82 | | 39 | 9.50 | 9.68 | 9.88 | 10.07 | 10.27 | 10.48 | 10.68 | | 40 | 9.39 | 9.56 | 9.76 | 9.94 | 10.14 | 10.34 | 10.55 | | 41 | 9.28 | 9.46 | 9.64 | 9.82 | 10.02 | 10.22 | 10.42 | | 42 | 9.17 | 9.34 | 9.52 | 9.70 | 9.90 | 10.09 | 10.30 | | 43 | 9.28 | 9.24 | 9.41 | 9.60 | 9.78 | 9.97 | 10.17 | | 44 | 9.39 | 9.34 | 9.30 | 9.48 | 9.66 | 9.86 | 10.04 | | 45 | 9.50 | 9.46 | 9.42 | 9.38 | 9.55 | 9.74 | 9.93 | | 46 | 9.62 | 9.57 | 9.53 | 9.48 | 9.44 | 9.62 | 9.82 | | 47 | 9.72 | 9.68 | 9.64 | 9.60 | 9.56 | 9.52 | 9.70 | | 48 | 9.84 | 9.80 | 9.76 | 9.72 | 9.68 | 9.63 | 9.59 | | 49 | 9.96 | 9.92 | 9.88 | 9.84 | 9.79 | 9.75 | 9.70 | | 50 | 10.08 | 10.04 | 10.00 | 9.95 | 9.91 | 9.86 | 9.82 | | 51 | 10.20 | 10.16 | 10.12 | 10.07 | 10.02 | 9.98 | 9.94 | | 52 | 10.33 | 10.28 | 10.24 | 10.19 | 10.14 | 10.10 | 10.06 | | 53 | 10.46 | 10.41 | 10.36 | 10.32 | 10.27 | 10.22 | 10.18 | | 54 | 10.58 | 10.53 | 10.48 | 10.44 | 10.39 | 10.34 | 10.30 | | 55 | 10.70 | 10.66 | 10.61 | 10.56 | 10.52 | 10.47 | 10.42 | | 56 | 10.84 | 10.78 | 10.74 | 10.69 | 10.64 | 10.60 | 10.55 | | 57 | 10.97 | 10.92 | 10.87 | 10.82 | 10.78 | 10.73 | 10.68 | | 58 | 11.10 | 11.05 | 11.00 | 10.95 | 10.90 | 10.86 | 10.81 | | 59 | 11.24 | 11.18 | 11.14 | 11.08 | 11.04 | 10.99 | 10.94 | | 60 | 11.32 | 11.32 | 11.27 | 11.22 | 11.17 | 11.12 | 11.08 | | 61 | 11.40 | 11.40 | 11.40 | 11.36 | 11.30 | 11.26 | 11.20 |

Table No. 17

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Member's Contribution Rate – 20 Year Police or Fire–¾ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SEFVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | 13.04% | | | | | | | | 28 | 12.82 | 13.04% | | | | | | | 29 | 12.60 | 12.83 | 13.06% | | | | | | 30 | 12.40 | 12.62 | 12.86 | 13.08% | | | | | 31 | 12.20 | 12.44 | 12.66 | 12.90 | 13.12% | | | | 32 | 12.02 | 12.24 | 12.48 | 12.70 | 12.94 | 13.16% | | | 33 | 11.84 | 12.06 | 12.30 | 12.53 | 12.76 | 12.98 | 13.20% | | 34 | 11.66 | 11.90 | 12.12 | 12.36 | 12.58 | 12.82 | 13.04 | | 35 | 11.50 | 11.72 | 11.96 | 12.19 | 12.42 | 12.65 | 12.88 | | 36 | 11.34 | 11.57 | 11.80 | 12.03 | 12.26 | 12.49 | 12.72 | | 37 | 11.19 | 11.41 | 11.64 | 11.87 | 12.10 | 12.33 | 12.56 | | 38 | 11.04 | 11.26 | 11.48 | 11.72 | 11.94 | 12.18 | 12.41 | | 39 | 10.90 | 11.12 | 11.34 | 11.56 | 11.80 | 12.02 | 12.26 | | 40 | 10.76 | 10.98 | 11.20 | 11.42 | 11.65 | 11.88 | 12.11 | | 41 | 10.62 | 10.84 | 11.06 | 11.28 | 11.51 | 11.74 | 11.97 | | 42 | 10.50 | 10.70 | 10.92 | 11.14 | 11.36 | 11.60 | 11.82 | | 43 | 10.38 | 10.58 | 10.79 | 11.01 | 11.22 | 11.46 | 11.68 | | 44 | 10.24 | 10.46 | 10.66 | 10.88 | 11.10 | 11.32 | 11.54 | | 45 | 10.12 | 10.32 | 16.54 | 10.74 | 10.96 | 11.18 | 11.40 | | 46 | 10.00 | 10.20 | 10.41 | 10.62 | 10.83 | 11.05 | 11.28 | | 47 | 9.89 | 10.08 | 10.28 | 10.49 | 10.70 | 10.92 | 11.14 | | 48 | 9.78 | 9.97 | 10.16 | 10.37 | 10.58 | 10.79 | 11.00 | | 49 | 9.66 | 9.85 | 10.05 | 10.24 | 10.45 | 10.66 | 10.88 | | 50 | 9.78 | 9.74 | 9.93 | 10.13 | 10.32 | 10.54 | 10.75 | | 51 | 9.90 | 9.86 | 9.82 | 10.00 | 10.21 | 10.41 | 10.62 | | 52 | 10.02 | 9.98 | 9.93 | 9.89 | 10.08 | 10.29 | 10.50 | | 53 | 10.14 | 10.10 | 10.06 | 10.01 | 9.97 | 10.16 | 10.38 | | 54 | 10.26 | 10.22 | 10.17 | 10.13 | 10.08 | 10.04 | 10.24 | | 55 | 10.38 | 10.34 | 10.30 | 10.25 | 10.21 | 10.16 | 10.12 | | 56 | 10.50 | 10.46 | 10.42 | 10.38 | 10.33 | 10.29 | 10.24 | | 57 | 10.64 | 10.59 | 16.54 | 10.50 | 10.46 | 10.42 | 10.38 | | 58 | 10.76 | 10.72 | 10.67 | 10.62 | 10.58 | 10.54 | 10.50 | | 59 | 10.90 | 10.84 | 10.80 | 10.76 | 10.71 | 10.66 | 10.62 | | 66 | 11.02 | 10.98 | 10.93 | 10.88 | 10.84 | 10.80 | 10.75 | | 61 | 11.16 | 11.11 | 11.06 | 11.02 | 10.97 | 10.92 | 10.88 |

Table No. 18

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Member's Contribution Rate – 20 Year Police or Fire–¾ Basis

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SEFVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | 13.26% | | | | | | | | 35 | 13.10 | 13.32% | | | | | | | 36 | 12.94 | 13.16 | 13.38% | | | | | | 37 | 12.79 | 13.02 | 13.24 | 13.46% | | | | | 38 | 12.64 | 12.87 | 13.10 | 13.32 | 13.53% | | | | 39 | 12.49 | 12.72 | 12.96 | 13.18 | 13.40 | 13.61% | | | 40 | 12.35 | 12.58 | 12.81 | 13.04 | 13.26 | 13.48 | | | 41 | 12.20 | 12.44 | 12.66 | 12.90 | 13.13 | 13.36 | | | 42 | 12.06 | 12.29 | 12.53 | 12.76 | 13.00 | 13.22 | | | 43 | 11.92 | 12.15 | 12.38 | 12.62 | 12.86 | 13.09 | | | 44 | 11.78 | 12.01 | 12.24 | 12.48 | 12.72 | 12.96 | | | 45 | 11.64 | 11.87 | 12.10 | 12.34 | 12.58 | 12.82 | | | 46 | 11.50 | 11.73 | 11.97 | 12.20 | 12.42 | 12.68 | | | 47 | 11.37 | 11.60 | 11.83 | 12.07 | 12.30 | 12.55 | | | 48 | 11.23 | 11.46 | 11.69 | 11.92 | 12.17 | 12.40 | | | 49 | 11.10 | 11.32 | 11.56 | 11.78 | 12.02 | 12.27 | | | 50 | 10.97 | 11.19 | 11.42 | 11.66 | 11.88 | 12.12 | | | 51 | 10.84 | 11.06 | 11.28 | 11.51 | 11.75 | 11.98 | | | 52 | 10.71 | 10.92 | 11.15 | 11.38 | 11.61 | 11.85 | | | 53 | 10.58 | 10.80 | 11.02 | 11.24 | 11.47 | 11.70 | | | 54 | 10.46 | 10.66 | 10.88 | 11.10 | 11.34 | 11.57 | | | 55 | 10.33 | 10.54 | 10.76 | 10.98 | 11.20 | 11.44 | | | 56 | 10.20 | 10.41 | 10.62 | 10.84 | 11.06 | 11.30 | | | 57 | 10.33 | 10.29 | 10.50 | 10.72 | 10.93 | 11.16 | | | 58 | 10.46 | 10.41 | 10.37 | 10.58 | 10.80 | 11.02 | | | 59 | 10.58 | 10.54 | 10.50 | 10.46 | 10.66 | 10.89 | | | 60 | 10.71 | 10.66 | 10.62 | 10.58 | 10.54 | 10.76 | | | 61 | 10.84 | 10.80 | 10.75 | 10.71 | 10.66 | 10.62 | |

Table No. 19

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rate—20 Year Police—Glen Cove

(For persons who became members on or after April 1, 1966)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SEFVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 20 | 20.53% | | | | | | | | 21 | 19.88 | 20.40% | | | | | | | 22 | 19.26 | 19.78 | 20.29% | | | | | | 28 | 18.68 | 19.20 | 19.71 | 20.21% | | | | | 24 | 18.13 | 18.65 | 19.15 | 19.65 | 20.14% | | | | 25 | 17.61 | 18.12 | 18.62 | 19.12 | 19.61 | 20.10% | | | 26 | 17.11 | 17.62 | 18.12 | 18.62 | 19.11 | 19.60 | 20.07% | | 27 | 16.64 | 17.14 | 17.64 | 18.14 | 18.63 | 19.12 | 19.60 | | 28 | 16.19 | 16.69 | 17.19 | 17.68 | 18.17 | 18.67 | 19.15 | | 29 | 15.76 | 16.25 | 16.75 | 17.24 | 17.73 | 18.23 | 18.71 | | 30 | 15.35 | 15.84 | 16.32 | 16.82 | 17.31 | 17.80 | 18.29 | | 31 | 14.96 | 15.44 | 15.92 | 16.41 | 16.90 | 17.40 | 17.88 | | 32 | 14.58 | 15.05 | 15.53 | 16.02 | 16.51 | 17.00 | 17.49 | | 33 | 14.21 | 14.68 | 15.16 | 15.64 | 16.13 | 16.62 | 17.11 | | 34 | 13.86 | 14.33 | 14.80 | 15.28 | 15.76 | 16.25 | 16.73 | | 35 | 13.52 | 13.98 | 14.45 | 14.92 | 15.40 | 15.88 | 16.37 | | 36 | 13.19 | 13.65 | 14.11 | 14.58 | 15.05 | 15.53 | 16.02 | | 37 | 12.87 | 13.32 | 13.78 | 14.24 | 14.71 | 15.19 | 15.67 | | 38 | 12.56 | 13.00 | 13.45 | 13.91 | 14.38 | 14.85 | 15.33 | | 39 | 12.25 | 12.69 | 13.14 | 13.59 | 14.06 | 14.53 | 15.00 | | 40 | 11.95 | 12.38 | 12.83 | 13.28 | 13.74 | 14.20 | 14.68 | | 41 | 11.65 | 12.08 | 12.52 | 12.97 | 13.42 | 13.89 | 14.36 | | 42 | 11.36 | 11.78 | 12.22 | 12.66 | 13.11 | 13.57 | 14.04 | | 43 | 11.49 | 11.49 | 11.92 | 12.36 | 12.81 | 13.26 | 13.73 | | 44 | 11.63 | 11.63 | 11.63 | 12.06 | 12.50 | 12.96 | 13.41 | | 45 | 11.77 | 11.77 | 11.77 | 11.77 | 12.20 | 12.65 | 13.11 | | 46 | 11.91 | 11.91 | 11.91 | 11.91 | 11.91 | 12.35 | 12.80 | | 47 | 12.05 | 12.05 | 12.05 | 12.05 | 12.05 | 12.05 | 12.50 | | 48 | 12.20 | 12.20 | 12.20 | 12.20 | 12.20 | 12.20 | 12.20 | | 49 | 12.35 | 12.35 | 12.35 | 12.35 | 12.35 | 12.35 | 12.35 | | 50 | 12.50 | 12.50 | 12.50 | 12.50 | 12.50 | 12.50 | 12.50 | | 51 | 12.65 | 12.65 | 12.65 | 12.65 | 12.65 | 12.65 | 12.65 | | 52 | 12.80 | 12.80 | 12.80 | 12.80 | 12.80 | 12.80 | 12.80 | | 53 | 12.96 | 12.96 | 12.96 | 12.96 | 12.96 | 12.96 | 12.96 | | 54 | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | 13.11 | | 55 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 | | 56 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | 13.43 | | 57 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | 13.60 | | 58 | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | | 59 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | 13.93 | | 60 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | 14.10 | | 61 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 | 14.27 |

Table No. 20

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rates – Legislators – 20 Year Plan

(For persons who became members on or after April 1, 1966)

| AGE at ENTRANCE AS a LEGISLATOR | MEN | WOMEN | | --- | --- | --- | | 20 | 21.56% | 26.03% | | 21 | 21.04 | 25.45 | | 22 | 20.54 | 24.89 | | 23 | 20.05 | 24.34 | | 24 | 19.59 | 23.82 | | 25 | 19.13 | 23.30 | | 26 | 18.68 | 22.80 | | 27 | 18.25 | 22.31 | | 28 | 17.82 | 21.83 | | 29 | 17.39 | 21.35 | | 30 | 16.97 | 20.87 | | 31 | 16.56 | 20.41 | | 32 | 16.15 | 19.94 | | 33 | 15.74 | 19.48 | | 34 | 15.34 | 19.02 | | 35 | 14.94 | 18.56 | | 36 | 14.54 | 18.10 | | 37 | 14.14 | 17.64 | | 38 | 13.75 | 17.19 | | 39 | 13.37 | 16.75 | | 40 | 12.98 | 16.29 | | 41 | 12.61 | 15.86 | | 42 | 12.23 | 15.41 | | 43 | 11.86 | 14.97 | | 44 | 11.50 | 14.54 | | 45 | 11.14 | 14.11 | | 46 | 10.79 | 13.69 | | 47 | 10.44 | 13.26 | | 48 | 10.09 | 12.83 | | 49 | 9.76 | 12.42 | | 50 | 9.42 | 12.00 | | | | |

Table No. 21

RATES PAYABLE BY NEW ENTRANTS

SHERIFFS, UNDER–SHERIFFS, AND REGULAR DEPUTY SHERIFFS

With No Previous Service Credit for Retirement under Section 89–a Employee Pays Entire Additional Cost – Employer not under the Provisions of Sec. 75–b

(For Persons Who become Members on or After 4/1/68)

| Age | Rate Payable for Annuity | Rate Payable for Add'l Pension Benefit | Total Rate to be Assigned | | --- | --- | --- | --- | | | | | | | 20 | 11.81% | 4.33% | 16.14% | | 21 | 11.81 | 4.35 | 16.16 | | 22 | 11.84 | 4.38 | 16.22 | | 23 | 11.90 | 4.42 | 16.32 | | 24 | 11.97 | 4.47 | 16.44 | | 25 | 12.07 | 4.52 | 16.59 | | 26 | 11.70 | 3.95 | 15.65 | | 27 | 11.35 | 3.37 | 14.72 | | 28 | 11.02 | 2.78 | 13.80 | | 29 | 10.71 | 2.17 | 12.88 | | 30 | 10.41 | 1.54 | 11.95 | | 31 | 10.12 | 1.50 | 11.62 | | 32 | 9.85 | 1.46 | 11.31 | | 33 | 9.58 | 1.42 | 11.00 | | 34 | 9.32 | 1.39 | 10.71 | | 35 | 9.08 | 1.35 | 10.43 | | 36 | 8.83 | 1.32 | 10.15 | | 37 | 8.60 | 1.28 | 9.88 | | 38 | 8.37 | 1.25 | 9.62 | | 39 | 8.14 | 1.22 | 9.36 | | 40 | 7.92 | 1.18 | 9.10 | | 41 | 8.01 | 1.20 | 9.21 | | 42 | 8.10 | 1.22 | 9.32 | | 43 | 8.20 | 1.24 | 9.44 | | 44 | 8.30 | 1.26 | 9.56 | | 45 | 8.40 | 1.28 | 9.68 | | 46 | 8.50 | 1.29 | 9.79 | | 47 | 8.61 | 1.31 | 9.92 | | 48 | 8.71 | 1.33 | 10.04 | | 49 | 8.82 | 1.35 | 10.17 | | 50 | 8.93 | 1.37 | 10.30 | | 51 | 9.04 | 1.39 | 10.43 | | 52 | 9.15 | 1.42 | 10.57 | | 53 | 9.26 | 1.44 | 10.70 | | 54 | 9.38 | 1.46 | 10.84 | | 55 | 9.49 | 1.48 | 10.97 | | 56 | 9.61 | 1.50 | 11.11 | | 57 | 9.73 | 1.53 | 11.26 | | 58 | 9.85 | 1.55 | 11.40 | | 59 | 9.97 | 1.57 | 11.54 | | 60 | 10.09 | 1.59 | 11.68 | | 61 | 10.22 | 1.62 | 11.84 | | 62 | 10.34 | 1.64 | 11.98 | | 63 | 10.47 | 1.67 | 12.14 | | 64 | 10.60 | 1.69 | 12.29 |

Table No. 22

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rates — 60 Year Plan

(For persons who became members between 4/1/52 and 3/31/86)

| AGE | CLERICAL AND ADMINISTRATIVE | LABORERS | POLICEMEN & FIREMEN | | | --- | --- | --- | --- | --- | | | | | | | | | Men | Women | | | | 15 | 6.50% | 7.49% | 4.80% | 5.59% | | 16 | 6.48 | 7.47 | 4.84 | 5.60 | | 17 | 6.47 | 7.45 | 4.88 | 5.61 | | 18 | 6.45 | 7.43 | 4.92 | 5.63 | | 19 | 6.44 | 7.42 | 5.01 | 5.64 | | 20 | 6.43 | 7.41 | 5.01 | 5.66 | | 21 | 6.42 | 7.39 | 5.05 | 5.69 | | 22 | 6.41 | 7.38 | 5.10 | 5.71 | | 23 | 6.40 | 7.38 | 5.15 | 5.74 | | 24 | 6.40 | 7.37 | 5.21 | 5.77 | | 25 | 6.40 | 7.38 | 5.26 | 5.80 | | 26 | 6.41 | 7.38 | 5.32 | 5.83 | | 27 | 6.42 | 7.39 | 5.38 | 5.87 | | 28 | 6.43 | 7.41 | 5.45 | 5.91 | | 29 | 6.45 | 7.43 | 5.51 | 5.95 | | 30 | 6.48 | 7.46 | 5.58 | 5.99 | | 31 | 6.51 | 7.50 | 5.65 | 6.03 | | 32 | 6.54 | 7.54 | 5.72 | 6.08 | | 33 | 6.58 | 7.58 | 5.79 | 6.12 | | 34 | 6.63 | 7.64 | 5.87 | 6.17 | | 35 | 6.68 | 7.69 | 5.94 | 6.22 | | 36 | 6.73 | 7.76 | 6.02 | 6.28 | | 37 | 6.79 | 7.82 | 6.10 | 6.33 | | 38 | 6.85 | 7.90 | 6.18 | 6.38 | | 39 | 6.92 | 7.97 | 6.27 | 6.44 | | 40 | 6.99 | 8.05 | 6.36 | 6.50 | | 41 | 7.06 | 8.14 | 6.44 | 6.55 | | 42 | 7.14 | 8.23 | 6.53 | 6.61 | | 43 | 7.22 | 8.32 | 6.63 | 6.67 | | 44 | 7.30 | 8.42 | 6.72 | 6.73 | | 45 | 7.39 | 8.51 | 6.82 | 6.80 | | 46 | 7.48 | 8.61 | 6.92 | 6.86 | | 47 | 7.57 | 8.72 | 7.02 | 6.92 | | 48 | 7.66 | 8.82 | 7.12 | 6.99 | | 49 | 7.76 | 8.93 | 7.23 | 7.05 | | 50 | 7.85 | 9.05 | 7.33 | 7.12 | | 51 | 7.96 | 9.17 | 7.44 | 7.18 | | 52 | 8.06 | 9.29 | 7.54 | 7.25 | | 53 | 8.17 | 9.41 | 7.65 | 7.32 | | 54 | 8.28 | 9.53 | 7.76 | 7.38 | | 55 | 8.38 | 9.66 | 7.87 | 7.45 | | 56 | 8.49 | 9.78 | 7.98 | 7.52 | | 57 | 8.60 | 9.91 | 8.09 | 7.59 | | 58 | 8.71 | 10.04 | 8.20 | 7.66 | | 59 & over | 8.83 | 10.17 | 8.31 | 7.72 |

Table No. 23

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members Contribution Rates—55 Year Plan

(For persons who become members between 4/1/52 and 3/31/66)

| AGE | CLERICAL AND ADMINISTRATIVE | LABORERS | POLICEMEN & FIREMEN | | | --- | --- | --- | --- | --- | | | Men | Women | | | | 15 | 9.65% | 10.87% | 7.12% | 8.03% | | 16 | 9.61 | 10.83 | 7.17 | 8.04 | | 17 | 9.58 | 10.79 | 7.23 | 8.05 | | 18 | 9.55 | 10.76 | 7.28 | 8.07 | | 19 | 9.52 | 10.72 | 7.34 | 8.09 | | 20 | 9.49 | 10.69 | 7.40 | 8.11 | | 21 | 9.46 | 10.66 | 7.47 | 8.14 | | 22 | 9.44 | 10.64 | 7.54 | 8.17 | | 23 | 9.42 | 10.61 | 7.61 | 8.21 | | 24 | 9.41 | 10.60 | 7.68 | 8.24 | | 25 | 9.40 | 10.59 | 7.76 | 8.29 | | 26 | 9.39 | 10.58 | 7.84 | 8.33 | | 27 | 9.40 | 10.58 | 7.93 | 8.38 | | 28 | 9.41 | 10.60 | 8.01 | 8.43 | | 29 | 9.42 | 10.62 | 8.11 | 8.48 | | 30 | 9.45 | 10.65 | 8.20 | 8.54 | | 31 | 9.48 | 10.68 | 8.30 | 8.60 | | 32 | 9.53 | 10.73 | 8.39 | 8.66 | | 33 | 9.58 | 10.79 | 8.50 | 8.72 | | 34 | 9.63 | 10.85 | 8.60 | 8.79 | | 35 | 9.69 | 10.92 | 8.71 | 8.86 | | 36 | 9.76 | 11.00 | 8.82 | 8.93 | | 37 | 9.84 | 11.09 | 8.94 | 9.00 | | 38 | 9.92 | 11.18 | 9.05 | 9.07 | | 39 | 10.01 | 11.28 | 9.17 | 9.15 | | 40 | 10.11 | 11.38 | 9.29 | 9.23 | | 41 | 10.20 | 11.50 | 9.42 | 9.31 | | 42 | 10.31 | 11.61 | 9.54 | 9.39 | | 43 | 10.42 | 11.73 | 9.68 | 9.48 | | 44 | 10.53 | 11.86 | 9.81 | 9.56 | | 45 | 10.64 | 11.99 | 9.95 | 9.65 | | 46 | 10.76 | 12.12 | 10.09 | 9.73 | | 47 | 10.88 | 12.26 | 10.24 | 9.82 | | 48 | 11.01 | 12.40 | 10.38 | 9.91 | | 49 | 11.14 | 12.54 | 10.53 | 10.00 | | 50 | 11.27 | 12.69 | 10.68 | 10.09 | | 51 | 11.41 | 12.85 | 10.83 | 10.19 | | 52 | 11.56 | 13.02 | 10.98 | 10.28 | | 53 | 11.71 | 13.19 | 11.13 | 10.37 | | 54 & Over | 11.86 | 13.36 | 11.28 | 10.47 |

Table No. 24

MEMBERS CONTRIBUTION RATES — POLICE & FIREMEN FOR RETIREMENT AFTER 25 YEARS OF SERVICE

Sections 87, 87–b, 88 (½ basis) and 89 1951 TABLES — 3%

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 16 | 15.27% | | | | | | | | 17 | 14.86 | 15.26% | | | | | | | 18 | 14.47 | 14.87 | 15.26% | | | | | | 19 | 14.07 | 14.48 | 14.88 | 15.27% | | | | | 20 | 13.69 | 14.09 | 14.50 | 14.89 | 15.28% | | | | 21 | 13.32 | 13.72 | 14.12 | 14.52 | 14.91 | 15.30% | | | 22 | 12.95 | 13.35 | 13.75 | 14.15 | 14.55 | 14.94 | 15.33% | | 23 | 12.59 | 12.99 | 13.39 | 13.79 | 14.19 | 14.59 | 14.98 | | 24 | 12.24 | 12.64 | 13.04 | 13.44 | 13.84 | 14.23 | 14.63 | | 25 | 11.90 | 12.29 | 12.69 | 13.09 | 13.49 | 13.89 | 14.29 | | 26 | 11.55 | 11.95 | 12.35 | 12.75 | 13.15 | 13.55 | 13.95 | | 27 | 11.22 | 11.61 | 12.01 | 12.41 | 12.81 | 13.21 | 13.61 | | 28 | 10.89 | 11.29 | 11.68 | 12.08 | 12.48 | 12.88 | 13.28 | | 29 | 10.57 | 10.96 | 11.35 | 11.75 | 12.15 | 12.55 | 12.95 | | 30 | 10.24 | 10.64 | 11.03 | 11.43 | 11.82 | 12.23 | 12.63 | | 31 | 9.93 | 10.32 | 10.71 | 11.10 | 11.50 | 11.90 | 12.30 | | 32 | 9.62 | 10.00 | 10.39 | 10.79 | 11.18 | 11.58 | 11.98 | | 33 | 9.32 | 9.69 | 10.08 | 10.47 | 10.86 | 11.26 | 11.66 | | 34 | 9.01 | 9.39 | 9.77 | 10.15 | 10.55 | 10.95 | 11.34 | | 35 | 8.71 | 9.08 | 9.46 | 9.84 | 10.23 | 10.63 | 11.03 | | 36 | 8.79 | 8.79 | 9.16 | 9.54 | 9.92 | 10.32 | 10.71 | | 37 | 8.86 | 8.86 | 8.86 | 9.23 | 9.62 | 10.01 | 10.40 | | 38 | 8.94 | 8.94 | 8.94 | 8.94 | 9.31 | 9.70 | 10.09 | | 39 | 9.01 | 9.01 | 9.01 | 9.01 | 9.01 | 9.39 | 9.78 | | 40 | 9.09 | 9.09 | 9.09 | 9.09 | 9.09 | 9.09 | 9.47 | | 41 | 9.17 | 9.17 | 9.17 | 9.17 | 9.17 | 9.17 | 9.17 | | 42 | 9.26 | 9.26 | 9.26 | 9.26 | 9.26 | 9.26 | 9.26 | | 43 | 9.34 | 9.34 | 9.34 | 9.34 | 9.34 | 9.34 | 9.34 | | 44 | 9.43 | 9.43 | 9.43 | 9.43 | 9.43 | 9.43 | 9.43 | | 45 | 9.51 | 9.51 | 9.51 | 9.51 | 9.51 | 9.51 | 9.51 | | 46 | 9.60 | 9.60 | 9.60 | 9.60 | 9.60 | 9.60 | 9.60 | | 47 | 9.69 | 9.69 | 9.69 | 9.69 | 9.69 | 9.69 | 6.69 | | 48 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | | 49 | 9.87 | 9.87 | 9.87 | 9.87 | 9.87 | 9.87 | 9.87 | | 50 | 9.96 | 9.96 | 9.96 | 9.96 | 9.96 | 9.96 | 9.96 | | 51 | 10.06 | 10.06 | 10.06 | 10.06 | 10.06 | 10.06 | 10.06 | | 52 | 10.15 | 10.15 | 10.15 | 10.15 | 10.15 | 10.15 | 10.15 | | 53 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | | 54 | 10.34 | 10.34 | 10.34 | 10.34 | 10.34 | 10.34 | 10.34 | | 55 | 10.43 | 10.43 | 10.43 | 10.43 | 10.43 | 10.43 | 10.43 | | 56 | 10.53 | 10.53 | 10.53 | 10.53 | 10.53 | 10.53 | 10.53 | | 57 | 10.62 | 10.62 | 10.62 | 10.62 | 10.62 | 10.62 | 10.62 | | 58 | 10.72 | 10.72 | 10.72 | 10.72 | 10.72 | 10.72 | 10.72 | | 59 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 |

Table No. 25

MEMBERS CONTRIBUTION RATES — POLICE & FIREMEN FOR RETIREMENT AFTER 25 YEARS OF SERVICE

Section 87, 87-b, 88 (½ basis) and 89 1951 TABLES — 3%

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 16 | | | | | | | | | 17 | | | | | | | | | 18 | | | | | | | | | 19 | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | 15.36% | | | | | | | | 24 | 15.02 | 15.40% | | | | | | | 25 | 14.68 | 15.07 | 15.45% | | | | | | 26 | 14.34 | 14.74 | 15.13 | 15.51% | | | | | 27 | 14.01 | 14.41 | 14.80 | 15.19 | 15.57% | | | | 28 | 13.68 | 14.08 | 14.47 | 14.87 | 15.26 | 15.64% | | | 29 | 13.35 | 13.76 | 14.15 | 14.55 | 14.94 | 15.33 | 15.71% | | 30 | 13.03 | 13.43 | 13.83 | 14.23 | 14.63 | 15.02 | 15.41 | | 31 | 12.71 | 13.11 | 13.51 | 13.92 | 14.32 | 14.71 | 15.11 | | 32 | 12.39 | 12.79 | 13.20 | 13.60 | 14.01 | 14.40 | 14.80 | | 33 | 12.06 | 12.47 | 12.88 | 13.28 | 13.69 | 14.10 | 14.50 | | 34 | 11.75 | 12.15 | 12.56 | 12.97 | 13.38 | 13.79 | 14.19 | | 35 | 11.43 | 11.84 | 12.24 | 12.66 | 13.06 | 13.47 | 13.88 | | 36 | 11.12 | 11.52 | 11.93 | 12.34 | 12.75 | 13.16 | 13.57 | | 37 | 10.80 | 11.21 | 11.61 | 12.02 | 12.43 | 12.85 | 13.26 | | 38 | 10.49 | 10.89 | 11.30 | 11.71 | 12.12 | 12.53 | 12.95 | | 39 | 10.18 | 10.58 | 10.98 | 11.39 | 11.80 | 12.22 | 12.63 | | 40 | 9.87 | 10.27 | 10.67 | 11.08 | 11.49 | 11.90 | 12.32 | | 41 | 9.56 | 9.96 | 10.36 | 10.76 | 11.17 | 11.59 | 12.00 | | 42 | 9.26 | 9.65 | 10.05 | 10.45 | 10.86 | 11.27 | 11.69 | | 43 | 9.34 | 9.34 | 9.73 | 10.14 | 10.54 | 10.95 | 11.37 | | 44 | 9.43 | 9.43 | 9.43 | 9.82 | 10.23 | 10.64 | 11.05 | | 45 | 9.51 | 9.51 | 9.51 | 9.51 | 9.91 | 10.32 | 10.73 | | 46 | 9.60 | 9.60 | 9.60 | 9.60 | 9.60 | 10.00 | 10.42 | | 47 | 9.69 | 9.69 | 9.69 | 9.69 | 9.69 | 9.69 | 10.10 | | 48 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | | 49 | 9.87 | 9.87 | 9.87 | 9.87 | 9.87 | 9.87 | 9.87 | | 50 | 9.96 | 9.96 | 9.96 | 9.96 | 9.96 | 9.96 | 9.96 | | 51 | 10.06 | 10.06 | 10.06 | 10.06 | 10.06 | 10.06 | 10.06 | | 52 | 10.15 | 10.15 | 10.15 | 10.15 | 10.15 | 10.15 | 10.15 | | 53 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | | 54 | 10.34 | 10.34 | 10.34 | 10.34 | 10.34 | 10.34 | 10.34 | | 55 | 10.43 | 10.43 | 10.43 | 10.43 | 10.43 | 10.43 | 10.43 | | 56 | 10.53 | 10.53 | 10.53 | 10.53 | 10.53 | 10.53 | 10.53 | | 57 | 10.62 | 10.62 | 10.62 | 10.62 | 10.62 | 10.62 | 10.62 | | 58 | 10.72 | 10.72 | 10.72 | 10.72 | 10.72 | 10.72 | 10.72 | | 59 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 |

Table No. 26

MEMBERS CONTRIBUTION RATES–POLICE & FIREMEN FOR RETIREMENT AFTER 25 YEARS OF SERVICE

Sections 87, 87-b, 88 (½ basis) and 89 1951 TABLES - 3%

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | | | | | | | | 16 | | | | | | | | | 17 | | | | | | | | | 18 | | | | | | | | | 19 | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | 15.79% | | | | | | | | 31 | 15.50 | 15.87% | | | | | | | 32 | 15.20 | 15.59 | 15.97% | | | | | | 33 | 14.90 | 15.29 | 15.68 | 16.06% | | | | | 34 | 14.59 | 14.99 | 15.39 | 15.78 | 16.16% | | | | 35 | 14.29 | 14.69 | 15.09 | 15.50 | 15.89 | 16.27% | | | 36 | 13.98 | 14.39 | 14.80 | 15.20 | 15.60 | 15.99 | | | 37 | 13.67 | 14.09 | 14.50 | 14.91 | 15.31 | 15.71 | | | 38 | 13.37 | 13.78 | 14.20 | 14.61 | 15.02 | 15.42 | | | 39 | 13.06 | 13.47 | 13.89 | 14.31 | 14.72 | 15.13 | | | 40 | 12.74 | 13.16 | 13.58 | 14.00 | 14.42 | 14.84 | | | 41 | 12.43 | 12.85 | 13.27 | 13.70 | 14.12 | 14.54 | | | 42 | 12.11 | 12.53 | 12.96 | 13.39 | 13.81 | 14.23 | | | 43 | 11.79 | 12.21 | 12.64 | 13.07 | 13.50 | 13.93 | | | 44 | 11.47 | 11.90 | 12.32 | 12.76 | 13.18 | 13.62 | | | 45 | 11.15 | 11.57 | 12.00 | 12.43 | 12.87 | 13.30 | | | 46 | 10.83 | 11.25 | 11.68 | 12.11 | 12.54 | 12.98 | | | 47 | 10.51 | 10.93 | 11.36 | 11.79 | 12.22 | 12.66 | | | 48 | 10.19 | 10.61 | 11.03 | 11.46 | 11.89 | 12.33 | | | 49 | 9.87 | 10.28 | 10.71 | 11.13 | 11.57 | 12.00 | | | 50 | 9.96 | 9.96 | 10.38 | 10.81 | 11.24 | 11.67 | | | 51 | 10.06 | 10.06 | 10.06 | 10.48 | 10.91 | 11.34 | | | 52 | 10.15 | 10.15 | 10.15 | 10.15 | 10.57 | 11.01 | | | 53 | 10.24 | 10.24 | 10.24 | 10.24 | 10.24 | 10.67 | | | 54 | 10.34 | 10.34 | 10.34 | 10.34 | 10.34 | 10.34 | | | 55 | 10.43 | 10.43 | 10.43 | 10.43 | 10.43 | 10.43 | | | 56 | 10.53 | 10.53 | 10.53 | 10.53 | 10.53 | 10.53 | | | 57 | 10.62 | 10.62 | 10.62 | 10.62 | 10.62 | 10.62 | | | 58 | 10.72 | 10.72 | 10.72 | 10.72 | 10.72 | 10.72 | | | 59 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 | |

Table No. 27

MEMBERS CONTRIBUTION RATES–POLICE & FIREMEN FOR RETIREMENT AFTER 25 YEARS OF SERVICE

Sections 87, 87-b, 88 (½ basis) and 89

1951 TABLES - 3%

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 20 | 21 | 22 | 23 | 24 | | | | | | | | | | | | | | | | | | | | | | 16 | | | | | | | | | 17 | | | | | | | | | 18 | | | | | | | | | 19 | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | | | | | | | | | 35 | | | | | | | | | 36 | 16.37% | | | | | | | | 37 | 16.10 | 16.48% | | | | | | | 38 | 15.82 | 16.22 | 16.60% | | | | | | 39 | 15.54 | 15.94 | 16.33 | 16.72% | | | | | 40 | 15.25 | 15.65 | 16.06 | 16.45 | 16.84% | | | | 41 | 14.96 | 15.37 | 15.78 | 16.19 | 16.58 | | | | 42 | 14.66 | 15.08 | 15.50 | 15.91 | 16.32 | | | | 43 | 14.36 | 14.78 | 15.21 | 15.63 | 16.04 | | | | 44 | 14.05 | 14.48 | 14.91 | 15.34 | 15.76 | | | | 45 | 13.74 | 14.17 | 14.60 | 15.04 | 15.47 | | | | 46 | 13.41 | 13.85 | 14.29 | 14.73 | 15.16 | | | | 47 | 13.10 | 13.53 | 13.98 | 14.41 | 14.85 | | | | 48 | 12.77 | 13.21 | 13.65 | 14.10 | 14.54 | | | | 49 | 12.45 | 12.89 | 13.33 | 13.77 | 14.22 | | | | 50 | 12.11 | 12.56 | 13.00 | 13.46 | 13.90 | | | | 51 | 11.78 | 12.22 | 12.68 | 13.12 | 13.58 | | | | 52 | 11.44 | 11.89 | 12.34 | 12.79 | 13.24 | | | | 53 | 11.11 | 11.55 | 12.00 | 12.45 | 12.91 | | | | 54 | 10.77 | 11.21 | 11.65 | 12.11 | 12.56 | | | | 55 | 10.43 | 10.87 | 11.31 | 11.76 | 12.22 | | | | 56 | 10.53 | 10.53 | 10.96 | 11.42 | 11.87 | | | | 57 | 10.62 | 10.62 | 10.62 | 11.06 | 11.52 | | | | 58 | 10.72 | 10.72 | 10.72 | 10.72 | 11.16 | | | | 59 | 10.81 | 10.81 | 10.81 | 10.81 | 10.81 | | |

Table No. 28

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

MEMBERS CONTRIBUTION RATES - 25 YEAR POLICE - 3/4 BASIS

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 16 | 10.44% | | | | | | | | 17 | 10.24 | 10.43% | | | | | | | 18 | 10.05 | 10.24 | 10.43% | | | | | | 19 | 9.86 | 10.06 | 10.24 | 10.44% | | | | | 20 | 9.68 | 9.86 | 10.06 | 10.25 | 10.44% | | | | 21 | 9.50 | 9.69 | 9.88 | 10.08 | 10.26 | 10.45% | | | 22 | 9.33 | 9.52 | 9.70 | 9.90 | 10.09 | 10.28 | 10.46% | | 23 | 9.16 | 9.35 | 9.54 | 9.72 | 9.92 | 10.11 | 10.30 | | 24 | 9.00 | 9.19 | 9.38 | 9.56 | 9.75 | 9.94 | 10.13 | | 25 | 8.85 | 9.03 | 9.22 | 9.40 | 9.59 | 9.78 | 9.96 | | 26 | 8.69 | 8.88 | 9.06 | 9.24 | 9.43 | 9.62 | 9.80 | | 27 | 8.54 | 8.72 | 8.90 | 9.09 | 9.28 | 9.46 | 9.65 | | 28 | 8.40 | 8.58 | 8.76 | 8.94 | 9.12 | 9.31 | 9.50 | | 29 | 8.26 | 8.44 | 8.61 | 8.79 | 8.98 | 9.16 | 9.34 | | 30 | 8.12 | 8.30 | 8.47 | 8.65 | 8.82 | 9.02 | 9.20 | | 31 | 7.98 | 8.16 | 8.33 | 8.50 | 8.68 | 8.86 | 9.05 | | 32 | 7.85 | 8.02 | 8.19 | 8.37 | 8.54 | 8.72 | 8.90 | | 33 | 7.72 | 7.88 | 8.06 | 8.23 | 8.40 | 8.58 | 8.76 | | 34 | 7.59 | 7.76 | 7.92 | 8.09 | 8.27 | 8.45 | 8.62 | | 35 | 7.46 | 7.62 | 7.79 | 7.96 | 8.13 | 8.31 | 8.49 | | 36 | 7.54 | 7.50 | 7.66 | 7.83 | 8.00 | 8.18 | 8.35 | | 37 | 7.60 | 7.57 | 7.54 | 7.70 | 7.87 | 8.04 | 8.22 | | 38 | 7.66 | 7.64 | 7.61 | 7.58 | 7.74 | 7.91 | 8.08 | | 39 | 7.72 | 7.70 | 7.67 | 7.64 | 7.62 | 7.78 | 7.95 | | 40 | 7.80 | 7.76 | 7.74 | 7.71 | 7.68 | 7.66 | 7.82 | | 41 | 7.86 | 7.84 | 7.80 | 7.78 | 7.75 | 7.72 | 7.70 | | 42 | 7.94 | 7.90 | 7.88 | 7.85 | 7.82 | 7.80 | 7.77 | | 43 | 8.00 | 7.98 | 7.94 | 7.92 | 7.89 | 7.86 | 7.84 | | 44 | 8.08 | 8.05 | 8.02 | 7.99 | 7.96 | 7.94 | 7.90 | | 45 | 8.16 | 8.12 | 8.09 | 8.06 | 8.03 | 8.00 | 7.98 | | 46 | 8.23 | 8.20 | 8.16 | 8.14 | 8.10 | 8.08 | 8.05 | | 47 | 8.30 | 8.28 | 8.24 | 8.21 | 8.18 | 8.15 | 8.12 | | 48 | 8.38 | 8.35 | 8.32 | 8.29 | 8.26 | 8.22 | 8.20 | | 49 | 8.46 | 8.43 | 8.40 | 8.36 | 8.34 | 8.30 | 8.27 | | 50 | 8.54 | 8.50 | 8.48 | 8.44 | 8.41 | 8.38 | 8.34 | | 51 | 8.62 | 8.59 | 8.56 | 8.52 | 8.49 | 8.46 | 8.43 | | 52 | 8.70 | 8.66 | 8.64 | 8.60 | 8.57 | 8.54 | 8.50 | | 53 | 8.78 | 8.74 | 8.71 | 8.68 | 8.64 | 8.62 | 8.58 | | 54 | 8.86 | 8.83 | 8.80 | 8.76 | 8.73 | 8.70 | 8.66 | | 55 | 8.94 | 8.90 | 8.88 | 8.84 | 8.80 | 8.78 | 8.74 | | 56 | 9.02 | 8.99 | 8.96 | 8.92 | 8.89 | 8.86 | 8.82 | | 57 | 9.10 | 9.07 | 9.04 | 9.00 | 8.97 | 8.94 | 8.90 | | 58 | 9.19 | 9.16 | 9.12 | 9.08 | 9.05 | 9.02 | 8.98 | | 59 | 9.26 | 9.24 | 9.20 | 9.16 | 9.13 | 9.10 | 9.06 |

Table No. 29

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

MEMBERS CONTRIBUTION RATES - 25 YEAR POLICE - 3/4 BASIS

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 16 | | | | | | | | | 17 | | | | | | | | | 18 | | | | | | | | | 19 | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | 10.48% | | | | | | | | 24 | 10.32 | 10.50% | | | | | | | 25 | 10.16 | 10.34 | 10.52% | | | | | | 26 | 9.99 | 10.18 | 10.37 | 10.56% | | | | | 27 | 9.84 | 10.02 | 10.22 | 10.40 | 10.58% | | | | 28 | 9.68 | 9.87 | 10.06 | 10.25 | 10.44 | 10.62% | | | 29 | 9.53 | 9.72 | 9.90 | 10.10 | 10.28 | 10.47 | 10.66% | | 30 | 9.38 | 9.57 | 9.76 | 9.94 | 10.14 | 10.32 | 10.51 | | 31 | 9.24 | 9.42 | 9.61 | 9.80 | 9.99 | 10.13 | 10.37 | | 32 | 9.10 | 9.28 | 9.47 | 9.66 | 9.85 | 10.03 | 10.22 | | 33 | 8.94 | 9.14 | 9.32 | 9.51 | 9.70 | 9.90 | 10.08 | | 34 | 8.81 | 8.99 | 9.18 | 9.37 | 9.56 | 9.75 | 9.94 | | 35 | 8.67 | 8.86 | 9.04 | 9.23 | 9.42 | 9.60 | 9.80 | | 36 | 8.54 | 8.72 | 8.90 | 9.08 | 9.28 | 9.46 | 9.66 | | 37 | 8.40 | 8.58 | 8.76 | 8.94 | 9.13 | 9.32 | 9.52 | | 38 | 8.26 | 8.44 | 8.62 | 8.81 | 9.00 | 9.18 | 9.38 | | 39 | 8.13 | 8.30 | 8.48 | 8.67 | 8.86 | 9.04 | 9.23 | | 40 | 8.00 | 8.18 | 8.35 | 8.54 | 8.72 | 8.90 | 9.10 | | 41 | 7.86 | 8.04 | 8.22 | 8.40 | 8.58 | 8.77 | 8.96 | | 42 | 7.74 | 7.91 | 8.08 | 8.26 | 8.44 | 8.63 | 8.82 | | 43 | 7.81 | 7.78 | 7.95 | 8.13 | 8.31 | 8.49 | 8.68 | | 44 | 7.88 | 7.86 | 7.82 | 8.00 | 8.18 | 8.36 | 8.54 | | 45 | 7.94 | 7.92 | 7.90 | 7.86 | 8.04 | 8.22 | 8.40 | | 46 | 8.02 | 7.99 | 7.96 | 7.94 | 7.91 | 8.08 | 8.27 | | 47 | 8.10 | 8.06 | 8.04 | 8.01 | 7.98 | 7.96 | 8.14 | | 48 | 8.16 | 8.14 | 8.11 | 8.08 | 8.06 | 8.03 | 8.00 | | 49 | 8.24 | 8.21 | 8.18 | 8.16 | 8.12 | 8.10 | 8.08 | | 50 | 8.32 | 8.28 | 8.26 | 8.23 | 8.20 | 8.17 | 8.14 | | 51 | 8.40 | 8.36 | 8.34 | 8.30 | 8.28 | 8.25 | 8.22 | | 52 | 8.48 | 8.44 | 8.41 | 8.38 | 8.35 | 8.32 | 8.30 | | 53 | 8.55 | 8.52 | 8.48 | 8.46 | 8.42 | 8.40 | 8.37 | | 54 | 8.63 | 8.60 | 8.57 | 8.54 | 8.50 | 8.48 | 8.44 | | 55 | 8.71 | 8.68 | 8.64 | 8.62 | 8.58 | 8.55 | 8.52 | | 56 | 8.79 | 8.76 | 8.72 | 8.70 | 8.66 | 8.63 | 8.60 | | 57 | 8.87 | 8.84 | 8.80 | 8.77 | 8.74 | 8.71 | 8.68 | | 58 | 8.95 | 8.92 | 8.88 | 8.86 | 8.82 | 8.79 | 8.76 | | 59 | 9.03 | 9.00 | 8.96 | 8.93 | 8.90 | 8.86 | 8.84 |

Table No. 30

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

MEMBERS CONTRIBUTION RATES - 25 YEAR POLICE - 3/4 BASIS

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | 20 | | | | | | | | | | | | | | | | | | | | 16 | | | | | | | | | 17 | | | | | | | | | 18 | | | | | | | | | 19 | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | 10.70% | | | | | | | | 31 | 10.56 | 10.74% | | | | | | | 32 | 10.42 | 10.60 | 10.78% | | | | | | 33 | 10.27 | 10.46 | 10.64 | 10.83% | | | | | 34 | 10.12 | 10.32 | 10.51 | 10.70 | 10.88% | | | | 35 | 9.99 | 10.18 | 10.36 | 10.56 | 10.75 | 10.94% | | | 36 | 9.84 | 10.04 | 10.23 | 10.42 | 10.62 | 10.80 | 10.98% | | 37 | 9.70 | 9.90 | 10.10 | 10.28 | 10.48 | 10.67 | 10.86 | | 38 | 9.57 | 9.76 | 9.96 | 10.15 | 10.34 | 10.53 | 10.72 | | 39 | 9.43 | 9.62 | 9.82 | 10.01 | 10.20 | 10.40 | 10.59 | | 40 | 9.28 | 9.48 | 9.68 | 9.87 | 10.06 | 10.26 | 10.46 | | 41 | 9.15 | 9.34 | 9.54 | 9.74 | 9.93 | 10.12 | 10.32 | | 42 | 9.01 | 9.20 | 9.40 | 9.60 | 9.79 | 9.98 | 10.18 | | 43 | 8.87 | 9.06 | 9.26 | 9.45 | 9.65 | 9.85 | 10.05 | | 44 | 8.73 | 8.92 | 9.12 | 9.32 | 9.50 | 9.71 | 9.91 | | 45 | 8.59 | 8.78 | 8.98 | 9.17 | 9.37 | 9.56 | 9.77 | | 46 | 8.46 | 8.64 | 8.84 | 9.03 | 9.22 | 9.42 | 9.62 | | 47 | 8.32 | 8.50 | 8.70 | 8.89 | 9.08 | 9.28 | 9.48 | | 48 | 8.18 | 8.36 | 8.56 | 8.74 | 8.94 | 9.14 | 9.34 | | 49 | 8.04 | 8.22 | 8.42 | 8.60 | 8.80 | 9.00 | 9.20 | | 50 | 8.12 | 8.09 | 8.28 | 8.46 | 8.66 | 8.85 | 9.05 | | 51 | 8.20 | 8.17 | 8.14 | 8.32 | 8.52 | 8.71 | 8.90 | | 52 | 8.26 | 8.24 | 8.22 | 8.18 | 8.37 | 8.56 | 8.76 | | 53 | 8.34 | 8.31 | 8.28 | 8.26 | 8.23 | 8.42 | 8.62 | | 54 | 8.42 | 8.39 | 8.36 | 8.34 | 8.31 | 8.28 | 8.47 | | 55 | 8.49 | 8.46 | 8.44 | 8.34 | 8.38 | 8.36 | 8.32 | | 56 | 8.57 | 8.54 | 8.52 | 8.48 | 8.46 | 8.43 | 8.40 | | 57 | 8.64 | 8.62 | 8.58 | 8.56 | 8.53 | 8.50 | 8.48 | | 58 | 8.72 | 8.70 | 8.66 | 8.64 | 8.61 | 8.58 | 8.55 | | 59 | 8.80 | 8.77 | 8.74 | 8.71 | 8.68 | 8.66 | 8.62 |

Table No. 31

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

MEMBERS CONTRIBUTION RATES - 25 YEARS POLICE - 3/4 BASIS

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | --- | --- | --- | --- | --- | | | 21 | 22 | 23 | 24 | | | | | | | | | | | | | | 16 | | | | | | 17 | | | | | | 18 | | | | | | 19 | | | | | | 20 | | | | | | 21 | | | | | | 22 | | | | | | 23 | | | | | | 24 | | | | | | 25 | | | | | | 26 | | | | | | 27 | | | | | | 28 | | | | | | 29 | | | | | | 30 | | | | | | 31 | | | | | | 32 | | | | | | 33 | | | | | | 34 | | | | | | 35 | | | | | | 36 | | | | | | 37 | 11.04% | | | | | 38 | 10.92 | 11.10% | | | | 39 | 10.78 | 10.97 | 11.16% | | | 40 | 10.64 | 10.84 | 11.03 | 11.22% | | 41 | 10.52 | 10.71 | 10.91 | 11.10 | | 42 | 10.38 | 10.58 | 10.78 | 10.98 | | 43 | 10.24 | 10.45 | 10.64 | 10.84 | | 44 | 10.11 | 10.31 | 10.52 | 10.71 | | 45 | 9.97 | 10.17 | 10.38 | 10.58 | | 46 | 9.82 | 10.03 | 10.24 | 10.44 | | 47 | 9.68 | 9.89 | 10.09 | 10.30 | | 48 | 9.54 | 9.74 | 9.95 | 10.16 | | 49 | 9.40 | 9.60 | 9.80 | 10.01 | | 50 | 9.26 | 9.46 | 9.66 | 9.87 | | 51 | 9.10 | 9.32 | 9.52 | 9.72 | | 52 | 8.96 | 9.16 | 9.37 | 9.58 | | 53 | 8.82 | 9.02 | 9.22 | 9.43 | | 54 | 8.66 | 8.86 | 9.07 | 9.28 | | 55 | 8.52 | 8.72 | 8.92 | 9.12 | | 56 | 8.38 | 8.56 | 8.77 | 8.98 | | 57 | 8.45 | 8.42 | 8.62 | 8.82 | | 58 | 8.52 | 8.50 | 8.47 | 8.66 | | 59 | 8.60 | 8.57 | 8.54 | 8.52 |

Table No. 32

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate - 20 Year Police or Fire - ½ Basis

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | | | | | | | | | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20 use 20 year rate | | | | | | | | | | 20 | 19.58% | | | | | | | | | 21 | 19.12 | 19.61% | | | | | | | | 22 | 18.68 | 19.16 | 19.64% | | | | | | | 23 | 18.24 | 18.72 | 19.20 | 19.68% | | | | | | 24 | 17.79 | 18.29 | 18.78 | 19.25 | 19.73% | | | | | 25 | 17.36 | 17.86 | 18.35 | 18.84 | 19.31 | 19.79% | | | | 26 | 16.94 | 17.44 | 17.92 | 18.42 | 18.91 | 19.39 | 19.86% | | | 27 | 16.51 | 17.01 | 17.51 | 18.01 | 18.50 | 18.99 | 19.46 | 19.93% | | 28 | 16.10 | 16.60 | 17.10 | 17.60 | 18.09 | 18.59 | 19.08 | 19.55 | | 29 | 15.69 | 16.19 | 16.69 | 17.20 | 17.69 | 18.19 | 18.68 | 19.16 | | 30 | 15.29 | 15.79 | 16.29 | 16.79 | 17.29 | 17.79 | 18.29 | 18.78 | | 31 | 14.88 | 15.38 | 15.89 | 16.39 | 16.89 | 17.40 | 17.90 | 18.39 | | 32 | 14.48 | 14.98 | 15.49 | 15.99 | 16.50 | 17.00 | 17.51 | 18.00 | | 33 | 14.08 | 14.58 | 15.08 | 15.59 | 16.10 | 16.60 | 17.11 | 17.62 | | 34 | 13.69 | 14.18 | 14.69 | 15.19 | 15.70 | 16.21 | 16.72 | 17.24 | | 35 | 13.29 | 13.79 | 14.29 | 14.80 | 15.30 | 15.82 | 16.32 | 16.84 | | 36 | 12.90 | 13.39 | 13.90 | 14.40 | 14.91 | 15.42 | 15.94 | 16.45 | | 37 | 12.51 | 13.00 | 13.50 | 14.01 | 14.51 | 15.02 | 15.54 | 16.06 | | 38 | 12.12 | 12.61 | 13.11 | 13.61 | 14.12 | 14.64 | 15.15 | 15.66 | | 39 | 11.74 | 12.22 | 12.72 | 13.22 | 13.72 | 14.24 | 14.75 | 15.28 | | 40 | 11.36 | 11.84 | 12.34 | 12.84 | 13.34 | 13.85 | 14.36 | 14.88 | | 41 | 10.99 | 11.46 | 11.95 | 12.45 | 12.95 | 13.45 | 13.96 | 14.49 | | 42 | 10.61 | 11.09 | 11.58 | 12.06 | 12.56 | 13.06 | 13.58 | 14.09 | | 43 | 10.71 | 10.71 | 11.19 | 11.68 | 12.16 | 12.68 | 13.18 | 13.69 | | 44 | 10.81 | 10.81 | 10.81 | 11.29 | 11.79 | 12.28 | 12.79 | 13.30 | | 45 | 10.91 | 10.91 | 10.91 | 10.91 | 11.40 | 11.89 | 12.39 | 12.90 | | 46 | 11.01 | 11.01 | 11.01 | 11.01 | 11.01 | 11.50 | 12.00 | 12.50 | | 47 | 11.12 | 11.12 | 11.12 | 11.12 | 11.12 | 11.12 | 11.61 | 12.11 | | 48 | 11.22 | 11.22 | 11.22 | 11.22 | 11.22 | 11.22 | 11.22 | 11.72 | | 49 | 11.32 | 11.32 | 11.32 | 11.32 | 11.32 | 11.32 | 11.32 | 11.32 | | 50 | 11.43 | 11.43 | 11.43 | 11.43 | 11.43 | 11.43 | 11.43 | 11.43 | | 51 | 11.54 | 11.54 | 11.54 | 11.54 | 11.43 | 11.54 | 11.54 | 11.54 | | 52 | 11.64 | 11.64 | 11.64 | 11.64 | 11.64 | 11.64 | 11.64 | 11.64 | | 53 | 11.75 | 11.75 | 11.75 | 11.75 | 11.75 | 11.75 | 11.75 | 11.75 | | 54 | 11.86 | 11.86 | 11.86 | 11.86 | 11.86 | 11.86 | 11.86 | 11.86 | | 55 | 11.97 | 11.97 | 11.97 | 11.97 | 11.97 | 11.97 | 11.97 | 11.97 | | 56 | 12.08 | 12.08 | 12.08 | 12.08 | 12.08 | 12.08 | 12.08 | 12.08 | | 57 | 12.19 | 12.19 | 12.19 | 12.19 | 12.19 | 12.19 | 12.19 | 12.19 | | 58 | 12.30 | 12.30 | 12.30 | 12.30 | 12.30 | 12.30 | 12.30 | 12.30 | | 59 | 12.41 | 12.41 | 12.41 | 12.41 | 12.41 | 12.41 | 12.41 | 12.41 | | 60 | 12.52 | 12.52 | 12.52 | 12.52 | 12.52 | 12.52 | 12.52 | 12.52 | | 61 | 12.64 | 12.64 | 12.64 | 12.64 | 12.64 | 12.64 | 12.64 | 12.64 |

Table No. 33

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate - 20 Year Police or Fire -½ Basis

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | | | | | | | | | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20 use 20 year rate | | | | | | | | | | 20 | | | | | | | | | | 21 | | | | | | | | | | 22 | | | | | | | | | | 23 | | | | | | | | | | 24 | | | | | | | | | | 25 | | | | | | | | | | 26 | | | | | | | | | | 27 | | | | | | | | | | 28 | 20.01% | | | | | | | | | 29 | 19.64 | 20.11% | | | | | | | | 30 | 19.26 | 19.74 | 20.20% | | | | | | | 31 | 18.89 | 19.38 | 19.84 | 20.31% | | | | | | 32 | 18.50 | 19.00 | 19.49 | 19.96 | 20.43% | | | | | 33 | 18.12 | 18.62 | 19.11 | 19.60 | 20.08 | 20.55% | | | | 34 | 17.74 | 18.24 | 18.74 | 19.24 | 19.72 | 20.20 | 20.67% | | | 35 | 17.35 | 17.86 | 18.36 | 18.86 | 19.38 | 19.86 | 20.34 | 20.80% | | 36 | 16.96 | 17.86 | 17.99 | 18.50 | 19.00 | 19.50 | 19.99 | 20.46 | | 37 | 16.58 | 17.09 | 17.61 | 18.12 | 18.64 | 19.14 | 19.64 | 20.12 | | 38 | 16.19 | 16.71 | 17.22 | 17.75 | 18.26 | 18.78 | 19.28 | 19.78 | | 39 | 15.79 | 16.32 | 16.84 | 17.36 | 17.89 | 18.40 | 18.91 | 19.42 | | 40 | 15.40 | 15.92 | 16.45 | 16.98 | 17.50 | 18.02 | 18.55 | 19.06 | | 41 | 15.00 | 15.54 | 16.06 | 16.59 | 17.12 | 17.65 | 18.18 | 18.70 | | 42 | 14.61 | 15.14 | 15.66 | 16.20 | 16.74 | 17.26 | 17.79 | 18.32 | | 43 | 14.21 | 14.74 | 15.26 | 15.80 | 16.34 | 16.88 | 17.41 | 17.95 | | 44 | 13.81 | 14.34 | 14.88 | 15.40 | 15.95 | 16.48 | 17.02 | 17.56 | | 45 | 13.41 | 13.94 | 14.46 | 15.00 | 15.54 | 16.09 | 16.62 | 17.18 | | 46 | 13.02 | 13.54 | 14.06 | 14.60 | 15.14 | 15.68 | 16.22 | 16.76 | | 47 | 12.62 | 13.14 | 13.66 | 14.20 | 14.74 | 15.28 | 15.82 | 16.38 | | 48 | 12.22 | 12.74 | 13.26 | 13.79 | 14.32 | 14.86 | 15.41 | 15.96 | | 49 | 11.83 | 12.34 | 12.85 | 13.39 | 13.91 | 14.46 | 15.00 | 15.56 | | 50 | 11.43 | 11.94 | 12.45 | 12.98 | 13.51 | 14.05 | 14.59 | 15.14 | | 51 | 11.54 | 11.54 | 12.05 | 12.58 | 13.10 | 13.64 | 14.18 | 14.72 | | 52 | 11.64 | 11.64 | 11.64 | 12.16 | 12.69 | 13.21 | 13.76 | 14.30 | | 53 | 11.75 | 11.75 | 11.75 | 11.75 | 12.27 | 12.80 | 13.34 | 13.89 | | 54 | 11.86 | 11.86 | 11.86 | 11.86 | 11.86 | 12.39 | 12.92 | 13.46 | | 55 | 11.97 | 11.97 | 11.97 | 11.97 | 11.97 | 11.97 | 12.50 | 13.04 | | 56 | 12.08 | 12.08 | 12.08 | 12.08 | 12.08 | 12.08 | 12.08 | 12.61 | | 57 | 12.19 | 12.19 | 12.19 | 12.19 | 12.19 | 12.19 | 12.19 | 12.19 | | 58 | 12.30 | 12.30 | 12.30 | 12.30 | 12.30 | 12.30 | 12.30 | 12.30 | | 59 | 12.41 | 12.41 | 12.41 | 12.41 | 12.41 | 12.41 | 12.41 | 12.41 | | 60 | 12.52 | 12.52 | 12.52 | 12.52 | 12.52 | 12.52 | 12.52 | 12.52 | | 61 | 12.64 | 12.64 | 12.64 | 12.64 | 12.64 | 12.64 | 12.64 | 12.64 |

Table No. 34

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate - 20 Year Police or Fire - ½ Basis

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | --- | --- | --- | --- | --- | | | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20 use 20 year rate | | | | | | 20 | | | | | | 21 | | | | | | 22 | | | | | | 23 | | | | | | 24 | | | | | | 25 | | | | | | 26 | | | | | | 27 | | | | | | 28 | | | | | | 29 | | | | | | 30 | | | | | | 31 | | | | | | 32 | | | | | | 33 | | | | | | 34 | | | | | | 35 | | | | | | 36 | 20.94% | | | | | 37 | 20.60 | 21.08% | | | | 38 | 20.28 | 20.75 | 21.22% | | | 39 | 19.92 | 20.41 | 20.90 | 21.37% | | 40 | 19.56 | 20.08 | 20.56 | 21.05 | | 41 | 19.21 | 19.72 | 20.24 | 20.72 | | 42 | 18.85 | 19.38 | 19.89 | 20.40 | | 43 | 18.48 | 19.01 | 19.54 | 20.05 | | 44 | 18.10 | 18.64 | 19.18 | 19.70 | | 45 | 17.71 | 18.25 | 18.80 | 19.34 | | 46 | 17.31 | 17.86 | 18.41 | 18.95 | | 47 | 16.91 | 17.48 | 18.01 | 18.56 | | 48 | 16.51 | 17.06 | 17.62 | 18.18 | | 49 | 16.11 | 16.66 | 17.21 | 17.78 | | 50 | 15.70 | 16.25 | 16.82 | 17.38 | | 51 | 15.28 | 15.85 | 16.40 | 16.98 | | 52 | 14.86 | 15.42 | 15.99 | 16.55 | | 53 | 14.44 | 15.00 | 15.56 | 16.14 | | 54 | 14.01 | 14.56 | 15.14 | 15.70 | | 55 | 13.59 | 14.14 | 14.70 | 15.28 | | 56 | 13.16 | 13.70 | 14.28 | 14.84 | | 57 | 12.73 | 13.28 | 13.82 | 14.40 | | 58 | 12.30 | 12.84 | 13.40 | 13.95 | | 59 | 12.41 | 12.41 | 12.96 | 13.51 | | 60 | 12.52 | 12.52 | 12.52 | 13.08 | | 61 | 12.64 | 12.64 | 12.64 | 12.64 |

Table No. 35

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate - 20 Year Police or Fire - 3/4 Basis

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 20 | 12.62% | | | | | | | | 21 | 12.40 | 12.64% | | | | | | | 22 | 12.20 | 12.42 | 12.65% | | | | | | 23 | 11.99 | 12.22 | 12.44 | 12.67% | | | | | 24 | 11.78 | 12.02 | 12.24 | 12.47 | 12.70% | | | | 25 | 11.58 | 11.82 | 12.04 | 12.28 | 12.50 | 12.72% | | | 26 | 11.38 | 11.62 | 11.84 | 12.08 | 12.31 | 12.54 | 12.76% | | 27 | 11.19 | 11.42 | 11.66 | 11.89 | 12.12 | 12.35 | 12.58 | | 28 | 11.00 | 11.24 | 11.46 | 11.70 | 11.93 | 12.16 | 12.40 | | 29 | 10.82 | 11.05 | 11.28 | 11.52 | 11.74 | 11.98 | 12.21 | | 30 | 10.64 | 10.87 | 11.10 | 11.33 | 11.56 | 11.80 | 12.03 | | 31 | 10.46 | 10.68 | 10.92 | 11.15 | 11.38 | 11.62 | 11.85 | | 32 | 10.28 | 10.50 | 10.74 | 10.97 | 11.20 | 11.44 | 11.67 | | 33 | 10.10 | 10.33 | 10.56 | 10.79 | 11.02 | 11.26 | 11.49 | | 34 | 9.93 | 10.15 | 10.38 | 10.61 | 10.84 | 11.08 | 11.32 | | 35 | 9.76 | 9.98 | 10.20 | 10.44 | 10.66 | 10.90 | 11.14 | | 36 | 9.59 | 9.80 | 10.04 | 10.26 | 10.50 | 10.72 | 10.96 | | 37 | 9.42 | 9.64 | 9.86 | 10.09 | 10.32 | 10.55 | 10.78 | | 38 | 9.25 | 9.47 | 9.70 | 9.92 | 10.14 | 10.38 | 10.62 | | 39 | 9.09 | 9.30 | 9.52 | 9.75 | 9.97 | 10.20 | 10.44 | | 40 | 8.93 | 9.14 | 9.36 | 9.58 | 9.81 | 10.04 | 10.26 | | 41 | 8.77 | 8.98 | 9.20 | 9.42 | 9.64 | 9.86 | 10.09 | | 42 | 8.61 | 8.82 | 9.04 | 9.25 | 9.47 | 9.70 | 9.93 | | 43 | 8.69 | 8.66 | 8.87 | 9.09 | 9.30 | 9.53 | 9.76 | | 44 | 8.77 | 8.74 | 8.71 | 8.92 | 9.14 | 9.36 | 9.58 | | 45 | 8.86 | 8.82 | 8.79 | 8.76 | 8.98 | 9.20 | 9.42 | | 46 | 8.94 | 8.90 | 8.87 | 8.84 | 8.81 | 9.02 | 9.25 | | 47 | 9.02 | 8.99 | 8.96 | 8.92 | 8.90 | 8.86 | 9.08 | | 48 | 9.10 | 9.07 | 9.04 | 9.01 | 8.98 | 8.94 | 8.92 | | 49 | 9.18 | 9.16 | 9.12 | 9.09 | 9.06 | 9.02 | 9.00 | | 50 | 9.28 | 9.24 | 9.21 | 9.18 | 9.14 | 9.12 | 9.08 | | 51 | 9.36 | 9.33 | 9.30 | 9.26 | 9.23 | 9.20 | 9.17 | | 52 | 9.44 | 9.41 | 9.38 | 9.34 | 9.32 | 9.28 | 9.25 | | 53 | 9.54 | 9.50 | 9.46 | 9.44 | 9.40 | 9.37 | 9.34 | | 54 | 9.62 | 9.59 | 9.56 | 9.52 | 9.49 | 9.46 | 9.42 | | 55 | 9.71 | 9.68 | 9.64 | 9.61 | 9.58 | 9.54 | 9.51 | | 56 | 9.80 | 9.76 | 9.73 | 9.70 | 9.66 | 9.63 | 9.60 | | 57 | 9.89 | 9.86 | 9.82 | 9.78 | 9.76 | 9.72 | 9.68 | | 58 | 9.98 | 9.94 | 9.91 | 9.88 | 9.84 | 9.81 | 9.78 | | 59 | 10.06 | 10.04 | 10.00 | 9.96 | 9.93 | 9.90 | 9.86 | | 60 | 10.12 | 10.12 | 10.09 | 10.06 | 10.02 | 9.98 | 9.95 | | 61 | 10.18 | 10.18 | 10.18 | 10.15 | 10.12 | 10.08 | 10.04 |

Table No. 36

STATE OF NEW YORK POLICEMEN'S & FIREMAN'S RETIREMENT SYSTEM

Members Contribution Rate - 20 Year Police or Fire - 3/4 Basis

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | 12.80% | | | | | | | | 28 | 12.62 | 12.84% | | | | | | | 29 | 12.44 | 12.66 | 12.88% | | | | | | 30 | 12.26 | 12.48 | 12.72 | 12.93% | | | | | 31 | 12.08 | 12.32 | 12.54 | 12.76 | 12.98% | | | | 32 | 11.90 | 12.14 | 12.37 | 12.60 | 12.82 | 13.04% | | | 33 | 11.72 | 11.96 | 12.20 | 12.42 | 12.66 | 12.88 | 13.10% | | 34 | 11.56 | 11.78 | 12.02 | 12.26 | 12.49 | 12.72 | 12.94 | | 35 | 11.38 | 11.61 | 11.84 | 12.08 | 12.32 | 12.56 | 12.78 | | 36 | 11.20 | 11.44 | 11.68 | 11.91 | 12.15 | 12.38 | 12.62 | | 37 | 11.02 | 11.26 | 11.50 | 11.74 | 11.98 | 12.22 | 12.46 | | 38 | 10.84 | 11.09 | 11.33 | 11.56 | 11.81 | 12.04 | 12.29 | | 39 | 10.68 | 10.91 | 11.16 | 11.40 | 11.64 | 11.88 | 12.12 | | 40 | 10.50 | 10.74 | 10.98 | 11.22 | 11.46 | 11.70 | 11.94 | | 41 | 10.33 | 10.56 | 10.81 | 11.04 | 11.29 | 11.54 | 11.78 | | 42 | 10.16 | 10.39 | 10.63 | 10.87 | 11.12 | 11.36 | 11.60 | | 43 | 9.98 | 10.22 | 10.46 | 10.69 | 10.94 | 11.18 | 11.44 | | 44 | 9.82 | 10.04 | 10.28 | 10.52 | 10.76 | 11.02 | 11.26 | | 45 | 9.64 | 9.87 | 10.11 | 10.34 | 10.58 | 10.83 | 11.08 | | 46 | 9.47 | 9.70 | 9.94 | 10.17 | 10.41 | 10.66 | 10.90 | | 47 | 9.30 | 9.53 | 9.76 | 10.00 | 10.24 | 10.48 | 10.72 | | 48 | 9.14 | 9.36 | 9.59 | 9.82 | 10.06 | 10.30 | 10.54 | | 49 | 8.96 | 9.19 | 9.42 | 9.64 | 9.88 | 10.12 | 10.37 | | 50 | 9.05 | 9.02 | 9.24 | 9.48 | 9.71 | 9.94 | 10.19 | | 51 | 9.14 | 9.10 | 9.08 | 9.30 | 9.54 | 9.77 | 10.01 | | 52 | 9.22 | 9.18 | 9.16 | 9.12 | 9.36 | 9.60 | 9.82 | | 53 | 9.30 | 9.28 | 9.24 | 9.21 | 9.18 | 9.41 | 9.65 | | 54 | 9.39 | 9.36 | 9.33 | 9.30 | 9.26 | 9.24 | 9.47 | | 55 | 9.48 | 9.44 | 9.42 | 9.38 | 9.35 | 9.32 | 9.29 | | 56 | 9.56 | 9.54 | 9.50 | 9.47 | 9.44 | 9.40 | 9.38 | | 57 | 9.66 | 9.62 | 9.59 | 9.56 | 9.52 | 9.50 | 9.46 | | 58 | 9.74 | 9.71 | 9.68 | 9.64 | 9.61 | 9.58 | 9.55 | | 59 | 9.83 | 9.80 | 9.76 | 9.73 | 9.70 | 9.66 | 9.64 | | 60 | 9.92 | 9.88 | 9.85 | 9.82 | 9.78 | 9.76 | 9.72 | | 61 | 10.01 | 9.98 | 9.94 | 9.91 | 9.88 | 9.84 | 9.82 |

Table No. 37

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate - 20 Year Police or Fire - 3/4 Basis

(For persons who became members between 4/1/52 & 3/31/66)

| NEAREST AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | 13.16% | | | | | | | | 35 | 13.02 | 13.23% | | | | | | | 36 | 12.85 | 13.08 | 13.30% | | | | | | 37 | 12.69 | 12.92 | 13.14 | 13.37% | | | | | 38 | 12.52 | 12.76 | 13.00 | 13.22 | 13.44% | | | | 39 | 12.36 | 12.60 | 12.83 | 13.06 | 13.30 | 13.52% | | | 40 | 12.19 | 12.43 | 12.66 | 12.91 | 13.14 | 13.37 | | | 41 | 12.02 | 12.26 | 12.50 | 12.74 | 12.99 | 13.22 | | | 42 | 11.85 | 12.10 | 12.34 | 12.59 | 12.83 | 13.07 | | | 43 | 11.68 | 11.93 | 12.18 | 12.42 | 12.67 | 12.91 | | | 44 | 11.50 | 11.76 | 12.00 | 12.26 | 12.50 | 12.75 | | | 45 | 11.32 | 11.58 | 11.83 | 12.08 | 12.34 | 12.58 | | | 46 | 11.15 | 11.40 | 11.65 | 11.90 | 12.16 | 12.41 | | | 47 | 10.97 | 11.23 | 11.47 | 11.74 | 11.98 | 12.24 | | | 48 | 10.79 | 11.04 | 11.30 | 11.54 | 11.80 | 12.06 | | | 49 | 10.61 | 10.86 | 11.12 | 11.37 | 11.62 | 11.88 | | | 50 | 10.44 | 10.68 | 10.94 | 11.18 | 11.45 | 11.70 | | | 51 | 10.26 | 10.50 | 10.75 | 11.01 | 11.26 | 11.53 | | | 52 | 10.07 | 10.32 | 10.57 | 10.82 | 11.08 | 11.34 | | | 53 | 9.89 | 10.14 | 10.38 | 10.64 | 10.89 | 11.16 | | | 54 | 9.71 | 9.95 | 10.20 | 10.44 | 10.71 | 10.96 | | | 55 | 9.52 | 9.77 | 10.02 | 10.26 | 10.52 | 10.78 | | | 56 | 9.34 | 9.58 | 9.83 | 10.07 | 10.33 | 10.58 | | | 57 | 9.43 | 9.40 | 9.64 | 9.89 | 10.13 | 10.39 | | | 58 | 9.52 | 9.48 | 9.46 | 9.70 | 9.95 | 10.20 | | | 59 | 9.60 | 9.57 | 9.54 | 9.51 | 9.76 | 10.00 | | | 60 | 9.69 | 9.66 | 9.62 | 9.60 | 9.56 | 9.82 | | | 61 | 9.78 | 9.75 | 9.72 | 9.68 | 9.66 | 9.62 | |

Table No. 38

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

Members' Contribution Rates – Legislators - 20 Year Plan

(For Persons who became Members between 4/1/52 & 3/31/66)

| | | | | --- | --- | --- | | AGE at ENTRANCE | MALE | FEMALE | | AS a LEGISLATOR | RATE | RATE | | | | | | 20 | 24.06% | 25.80% | | 21 | 23.32 | 25.07 | | 22 | 22.56 | 24.32 | | 23 | 21.82 | 23.59 | | 24 | 21.08 | 22.85 | | 25 | 20.37 | 22.15 | | 26 | 19.67 | 21.45 | | 27 | 19.00 | 20.79 | | 28 | 18.36 | 20.15 | | 29 | 17.75 | 19.55 | | 30 | 17.17 | 18.98 | | 31 | 16.61 | 18.42 | | 32 | 16.07 | 17.89 | | 33 | 15.55 | 17.38 | | 34 | 15.04 | 16.88 | | 35 | 14.54 | 16.38 | | 36 | 14.05 | 15.90 | | 37 | 13.57 | 15.42 | | 38 | 13.11 | 14.96 | | 39 | 12.67 | 14.53 | | 40 | 12.23 | 14.09 | | 41 | 11.81 | 13.67 | | 42 | 11.40 | 13.26 | | 43 | 10.99 | 12.85 | | 44 | 10.60 | 12.46 | | 45 | 10.20 | 12.05 | | 46 | 9.82 | 11.67 | | 47 | 9.44 | 11.28 | | 48 | 9.07 | 10.90 | | 49 | 8.71 | 10.53 | | 50 | 8.35 | 10.15 | | | | |

Table No. 39

STATE OF NEW YORK EMPLOYEES RETIREMENT SYSTEM

Members' Contribution Rates - Legislators - 20 Year Plan

(For persons who became Members between 7/1/43 Before 4/1/52) and 3/31/52)

| AGE | CLERICAL AND ADMINISTRATIVE | LABORERS | POLICEMEN & FIREMEN | | | --- | --- | --- | --- | --- | | | | | | | | | MEN | WOMEN | | | | 16 | 5.75% | 6.55% | 4.46% | 4.82% | | 17 | 5.74 | 6.53 | 4.50 | 4.83 | | 18 | 5.73 | 6.51 | 4.54 | 4.84 | | 19 | 5.72 | 6.50 | 4.58 | 4.86 | | 20 | 5.71 | 6.49 | 4.62 | 4.88 | | 21 | 5.70 | 6.48 | 4.66 | 4.90 | | 22 | 5.69 | 6.47 | 4.71 | 4.92 | | 23 | 5.69 | 6.47 | 4.76 | 4.94 | | 24 | 5.69 | 6.47 | 4.81 | 4.96 | | 25 | 5.69 | 6.47 | 4.86 | 4.99 | | 26 | 5.69 | 6.47 | 4.91 | 5.02 | | 27 | 5.70 | 6.48 | 4.97 | 5.05 | | 28 | 5.71 | 6.50 | 5.03 | 5.08 | | 29 | 5.73 | 6.52 | 5.09 | 5.12 | | 30 | 5.75 | 6.54 | 5.15 | 5.16 | | 31 | 5.78 | 6.57 | 5.21 | 5.20 | | 32 | 5.81 | 6.60 | 5.27 | 5.24 | | 33 | 5.85 | 6.64 | 5.34 | 5.28 | | 34 | 5.89 | 6.69 | 5.41 | 5.32 | | 35 | 5.93 | 6.75 | 5.48 | 5.36 | | 36 | 5.98 | 6.81 | 5.55 | 5.40 | | 37 | 6.03 | 6.87 | 5.62 | 5.44 | | 38 | 6.09 | 6.93 | 5.70 | 5.49 | | 39 | 6.15 | 6.99 | 5.78 | 5.54 | | 40 | 6.21 | 7.06 | 5.86 | 5.59 | | 41 | 6.28 | 7.13 | 5.94 | 5.64 | | 42 | 6.35 | 7.21 | 6.02 | 5.69 | | 43 | 6.42 | 7.29 | 6.11 | 5.74 | | 44 | 6.49 | 7.37 | 6.20 | 5.79 | | 45 | 6.56 | 7.46 | 6.29 | 5.85 | | 46 | 6.64 | 7.55 | 6.38 | 5.91 | | 47 | 6.72 | 7.64 | 6.47 | 5.97 | | 48 | 6.80 | 7.73 | 6.56 | 6.03 | | 49 | 6.88 | 7.83 | 6.66 | 6.08 | | 50 | 6.97 | 7.93 | 6.76 | 6.13 | | 51 | 7.06 | 8.03 | 6.86 | 6.18 | | 52 | 7.15 | 8.14 | 6.96 | 6.24 | | 53 | 7.25 | 8.25 | 7.06 | 6.30 | | 54 | 7.35 | 8.36 | 7.16 | 6.36 | | 55 | 7.45 | 8.47 | 7.26 | 6.42 | | 56 | 7.55 | 8.58 | 7.36 | 6.48 | | 57 | 7.65 | 8.69 | 7.46 | 6.54 | | 58 | 7.75 | 8.80 | 7.56 | 6.60 | | 59 & Over | 7.84 | 8.92 | 7.67 | 6.65 |

Table No. 40

55 Year Rates of Contribution Under Section 71-a Based on Age at Last Entrance 3% (Before 4/1/52)

(For persons who became members between 7-1-1943 and 3-21-1952)

| | | | | | | --- | --- | --- | --- | --- | | | Clerks | Laborers | Firemen & Policemen | | | Age | Men Group 1 | Women Group 2 | Group 3 | Group 6 & 7 | | | | | | | | 15 | .0864 | .0973 | .0665 | | | 16 | .0861 | .0970 | .0670 | | | 17 | .0858 | .0966 | .0675 | | | 18 | .0855 | .0963 | .0680 | | | 19 | .0852 | .0960 | .0686 | | | 20 | .0850 | .0957 | .0691 | .0689 | | 21 | .0847 | .0954 | .0698 | .0691 | | 22 | .0845 | .0952 | .0704 | .0694 | | 23 | .0843 | .0950 | .0711 | .0697 | | 24 | .0842 | .0949 | .0718 | .0700 | | 25 | .0841 | .0948 | .0725 | .0703 | | 26 | .0841 | .0947 | .0732 | .0707 | | 27 | .0841 | .0948 | .0740 | .0711 | | 28 | .0842 | .0949 | .0749 | .0715 | | 29 | .0844 | .0950 | .0757 | .0720 | | 30 | .0846 | .0953 | .0766 | .0725 | | 31 | .0849 | .0957 | .0775 | .0730 | | 32 | .0853 | .0961 | .0784 | .0735 | | 33 | .0857 | .0966 | .0794 | .0740 | | 34 | .0862 | .0971 | .0803 | .0746 | | 35 | .0868 | .0978 | .0814 | .0752 | | 36 | .0874 | .0985 | .0824 | .0758 | | 37 | .0881 | .0992 | .0835 | .0764 | | 38 | .0888 | .1001 | .0845 | .0770 | | 39 | .0896 | .1010 | .0857 | .0777 | | 40 | .0905 | .1019 | .0868 | .0783 | | 41 | .0914 | .1029 | .0879 | .0790 | | 42 | .0923 | .1040 | .0891 | .0797 | | 43 | .0932 | .1051 | .0904 | .0804 | | 44 | .0942 | .1062 | .0916 | .0812 | | 45 | .0953 | .1073 | .0929 | .0819 | | 46 | .0963 | .1085 | .0943 | .0826 | | 47 | .0974 | .1098 | .0956 | .0834 | | 48 | .0985 | .1110 | .0970 | .0841 | | 49 | .0997 | .1123 | .0983 | .0849 | | 50 | .1009 | .1137 | .0997 | .0857 | | 51 | .1021 | .1151 | .1011 | .0865 | | 52 | .1035 | .1166 | .1025 | .0873 | | 53 | .1048 | .1181 | .1039 | .0881 | | 54 | .1062 | .1196 | .1054 | .0889 |

Table No. 41

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES—25 YEAR POLICE—½ BASIS

(For persons who become members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 15 | 12.74% | | | | | | | | 16 | 12.44 | 12.73% | | | | | | | 17 | 12.15 | 12.43 | 12.72% | | | | | | 18 | 11.85 | 12.15 | 12.43 | 12.72% | | | | | 19 | 11.57 | 11.86 | 12.15 | 12.44 | 12.72% | | | | 20 | 11.28 | 11.58 | 11.88 | 12.17 | 12.45 | 12.73% | | | 21 | 11.01 | 11.31 | 11.60 | 11.90 | 12.19 | 12.47 | 12.74% | | 22 | 10.74 | 11.04 | 11.33 | 11.63 | 11.92 | 12.21 | 12.49 | | 23 | 10.47 | 10.77 | 11.07 | 11.37 | 11.66 | 11.95 | 12.24 | | 24 | 10.21 | 10.51 | 10.81 | 11.11 | 11.41 | 11.70 | 11.99 | | 25 | 9.95 | 10.25 | 10.55 | 10.86 | 11.16 | 11.45 | 11.74 | | 26 | 9.69 | 10.00 | 10.30 | 10.60 | 10.90 | 11.20 | 11.50 | | 27 | 9.44 | 9.74 | 10.05 | 10.35 | 10.65 | 10.96 | 11.26 | | 28 | 9.19 | 9.50 | 9.80 | 10.11 | 10.41 | 10.71 | 11.01 | | 29 | 8.94 | 9.25 | 9.55 | 9.86 | 10.16 | 10.47 | 10.77 | | 30 | 8.70 | 9.00 | 9.31 | 9.61 | 9.92 | 10.23 | 10.53 | | 31 | 8.45 | 8.76 | 9.06 | 9.37 | 9.68 | 9.98 | 10.29 | | 32 | 8.21 | 8.52 | 8.82 | 9.13 | 9.44 | 9.75 | 10.05 | | 33 | 7.98 | 8.28 | 8.58 | 8.89 | 9.20 | 9.50 | 9.82 | | 34 | 7.74 | 8.04 | 8.34 | 8.65 | 8.95 | 9.27 | 9.57 | | 35 | 7.50 | 7.80 | 8.10 | 8.41 | 8.71 | 9.02 | 9.34 | | 36 | 7.56 | 7.56 | 7.86 | 8.17 | 8.47 | 8.78 | 9.09 | | 37 | 7.63 | 7.63 | 7.63 | 7.93 | 8.24 | 8.54 | 8.86 | | 38 | 7.69 | 7.69 | 7.69 | 7.69 | 8.00 | 8.31 | 8.62 | | 39 | 7.76 | 7.76 | 7.76 | 7.76 | 7.76 | 8.06 | 8.38 | | 40 | 7.83 | 7.83 | 7.83 | 7.83 | 7.83 | 7.83 | 8.14 | | 41 | 7.90 | 7.90 | 7.90 | 7.90 | 7.90 | 7.90 | 7.90 | | 42 | 7.97 | 7.97 | 7.97 | 7.97 | 7.97 | 7.97 | 7.97 | | 43 | 8.04 | 8.04 | 8.04 | 8.04 | 8.04 | 8.04 | 8.04 | | 44 | 8.12 | 8.12 | 8.12 | 8.12 | 8.12 | 8.12 | 8.12 | | 45 | 8.19 | 8.19 | 8.19 | 8.19 | 8.27 | 8.19 | 8.19 | | 46 | 8.27 | 8.27 | 8.27 | 8.27 | 8.27 | 8.27 | 8.27 | | 47 | 8.34 | 8.34 | 8.34 | 8.34 | 8.34 | 8.34 | 8.34 | | 48 | 8.42 | 8.42 | 8.42 | 8.42 | 8.42 | 8.42 | 8.42 | | 49 | 8.50 | 8.50 | 8.50 | 8.50 | 8.50 | 8.50 | 8.50 | | 50 | 8.58 | 8.58 | 8.58 | 8.58 | 8.58 | 8.58 | 8.58 | | 51 | 8.66 | 8.66 | 8.66 | 8.66 | 8.66 | 8.66 | 8.66 | | 52 | 8.74 | 8.74 | 8.74 | 8.74 | 8.74 | 8.74 | 8.74 | | 53 | 8.82 | 8.82 | 8.82 | 8.82 | 8.82 | 8.82 | 8.82 | | 54 | 8.90 | 8.90 | 8.90 | 8.90 | 8.90 | 8.90 | 8.90 | | 55 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | | 56 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | | 57 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | | 58 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | | 59 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 |

Table No. 42

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES—25 YEAR POLICE—½ BASIS

(For persons who become members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 15 | | | | | | | | | 16 | | | | | | | | | 17 | | | | | | | | | 18 | | | | | | | | | 19 | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | 12.76% | | | | | | | | 23 | 12.52 | 12.79% | | | | | | | 24 | 12.27 | 12.55 | 12.82% | | | | | | 25 | 12.03 | 12.32 | 12.59 | 12.86% | | | | | 26 | 11.79 | 12.08 | 12.36 | 12.63 | 12.90% | | | | 27 | 11.55 | 11.84 | 12.13 | 12.41 | 12.68 | 12.95% | | | 28 | 11.31 | 11.60 | 11.90 | 12.19 | 12.47 | 12.74 | 13.01% | | 29 | 11.07 | 11.37 | 11.66 | 11.96 | 12.24 | 12.53 | 12.80 | | 30 | 10.83 | 11.14 | 11.44 | 11.72 | 12.02 | 12.31 | 12.59 | | 31 | 10.60 | 10.90 | 11.20 | 11.51 | 11.80 | 12.09 | 12.38 | | 32 | 10.36 | 10.67 | 10.97 | 11.28 | 11.58 | 11.87 | 12.17 | | 33 | 10.12 | 10.44 | 10.74 | 11.05 | 11.35 | 11.66 | 11.95 | | 34 | 9.89 | 10.20 | 10.51 | 10.82 | 11.12 | 11.43 | 11.73 | | 35 | 9.65 | 9.96 | 10.27 | 10.59 | 10.90 | 11.20 | 11.51 | | 36 | 9.41 | 9.72 | 10.04 | 10.35 | 10.67 | 10.98 | 11.29 | | 37 | 9.17 | 9.49 | 9.80 | 10.12 | 10.43 | 10.75 | 11.06 | | 38 | 8.93 | 9.24 | 9.56 | 9.88 | 10.20 | 10.51 | 10.83 | | 39 | 8.69 | 9.01 | 9.32 | 9.64 | 9.96 | 10.28 | 10.60 | | 40 | 8.45 | 8.76 | 9.08 | 9.40 | 9.73 | 10.05 | 10.37 | | 41 | 8.21 | 8.53 | 8.84 | 9.16 | 9.48 | 9.81 | 10.13 | | 42 | 7.97 | 8.28 | 8.60 | 8.92 | 9.24 | 9.57 | 9.90 | | 43 | 8.04 | 8.04 | 8.36 | 8.68 | 9.00 | 9.33 | 9.65 | | 44 | 8.12 | 8.12 | 8.12 | 8.43 | 8.76 | 9.08 | 9.41 | | 45 | 8.19 | 8.19 | 8.19 | 8.19 | 8.51 | 8.84 | 9.16 | | 46 | 8.27 | 8.27 | 8.27 | 8.27 | 8.27 | 8.27 | 8.92 | | 47 | 8.34 | 8.34 | 8.34 | 8.34 | 8.34 | 8.34 | 8.67 | | 48 | 8.42 | 8.42 | 8.42 | 8.42 | 8.42 | 8.42 | 8.42 | | 49 | 8.50 | 8.50 | 8.50 | 8.50 | 8.50 | 8.50 | 8.50 | | 50 | 8.58 | 8.58 | 8.58 | 8.58 | 8.58 | 8.58 | 8.58 | | 51 | 8.66 | 8.66 | 8.66 | 8.66 | 8.66 | 8.66 | 8.66 | | 52 | 8.74 | 8.74 | 8.74 | 8.74 | 8.74 | 8.74 | 8.74 | | 53 | 8.82 | 8.82 | 8.82 | 8.82 | 8.82 | 8.82 | 8.82 | | 54 | 8.90 | 8.90 | 8.90 | 8.90 | 8.90 | 8.90 | 8.90 | | 55 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | | 56 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | | 57 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | | 58 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | | 59 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 |

Table No. 43

STATE OF NEW YORK EMPLOYEE'S RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES — 25 YEAR POLICE—½ BASIS

(For persons who became members between 7/31/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | 20 | | | | | | | | | | | | | | | | | | | | 15 | | | | | | | | | 16 | | | | | | | | | 17 | | | | | | | | | 18 | | | | | | | | | 19 | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | 13.06% | | | | | | | | 30 | 12.86 | 13.13% | | | | | | | 31 | 12.66 | 12.93 | 13.20% | | | | | | 32 | 12.46 | 12.73 | 13.01 | 13.27% | | | | | 33 | 12.24 | 12.53 | 12.81 | 13.09 | 13.35% | | | | 34 | 12.03 | 12.32 | 12.61 | 12.90 | 13.17 | 13.43% | | | 35 | 11.82 | 12.11 | 12.41 | 12.70 | 12.98 | 13.25 | 13.52% | | 36 | 11.59 | 11.90 | 12.20 | 12.49 | 12.78 | 13.07 | 13.34 | | 37 | 11.37 | 11.68 | 11.99 | 12,29 | 12.58 | 12.87 | 13.16 | | 38 | 11.15 | 11.46 | 11.77 | 12.08 | 12.38 | 12.67 | 12.97 | | 39 | 10.92 | 11.24 | 11.55 | 11.86 | 12.17 | 12.47 | 12.77 | | 40 | 10.59 | 11.01 | 11.33 | 11.64 | 11.96 | 12.27 | 12.57 | | 41 | 10.46 | 10.78 | 11.10 | 11.42 | 11.74 | 12.05 | 12.37 | | 42 | 10.22 | 10.55 | 10.87 | 11.20 | 11.52 | 11.84 | 12.15 | | 43 | 9.98 | 10.31 | 10.64 | 10.96 | 11.29 | 11.62 | 11.94 | | 44 | 9.74 | 10.07 | 10.40 | 10.73 | 11.06 | 11.39 | 11.72 | | 45 | 9.49 | 9.83 | 10.16 | 10.49 | 10.83 | 11.16 | 11.49 | | 46 | 9.25 | 9.58 | 9.91 | 10.25 | 10.59 | 10.92 | 11.25 | | 47 | 9.00 | 9.33 | 9.67 | 10.00 | 10.34 | 10.68 | 11.02 | | 48 | 8.75 | 9.08 | 9.42 | 9.76 | 10.09 | 10.44 | 10.78 | | 49 | 8.50 | 8.83 | 9.17 | 9.51 | 9.85 | 10.19 | 10.53 | | 50 | 8.58 | 8.58 | 8.91 | 9.25 | 9.59 | 9.94 | 10.28 | | 51 | 8.66 | 8.66 | 8.66 | 8.99 | 9.34 | 9.68 | 10.03 | | 52 | 8.74 | 8.74 | 8.74 | 8.74 | 9.08 | 9.43 | 9.77 | | 53 | 8.82 | 8.82 | 8.82 | 8.82 | 8.82 | 9.16 | 9.51 | | 54 | 8.90 | 8.90 | 8.90 | 8.90 | 8.90 | 8.90 | 9.24 | | 55 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | 8.98 | | 56 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | 9.06 | | 57 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | 9.15 | | 58 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | | 59 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 | 9.31 |

Table No. 44

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES — 25 YEAR POLICE —½ BASIS

(For persons who became members between 7/31/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | --- | --- | --- | --- | --- | | | 21 | 22 | 23 | 24 | | | | | | | | | | | | | | 15 | | | | | | 16 | | | | | | 17 | | | | | | 18 | | | | | | 19 | | | | | | 20 | | | | | | 21 | | | | | | 22 | | | | | | 23 | | | | | | 24 | | | | | | 25 | | | | | | 26 | | | | | | 27 | | | | | | 28 | | | | | | 29 | | | | | | 30 | | | | | | 31 | | | | | | 32 | | | | | | 33 | | | | | | 34 | | | | | | 35 | | | | | | 36 | 13.61% | | | | | 37 | 13.43 | 13.70% | | | | 38 | 13.25 | 13.52 | 13.79% | | | 39 | 13.06 | 13.35 | 13.62 | 13.89% | | 40 | 12.87 | 13.16 | 13.44 | 13.71 | | 41 | 12.67 | 12.97 | 13.26 | 13.55 | | 42 | 12.47 | 12.77 | 13.07 | 13.37 | | 43 | 12.26 | 12.57 | 12.88 | 13.18 | | 44 | 12.04 | 12.36 | 12.68 | 12.99 | | 45 | 11.82 | 12.14 | 12.47 | 12.79 | | 46 | 11.59 | 11.92 | 12.25 | 12.57 | | 47 | 11.35 | 11.69 | 12.02 | 12.35 | | 48 | 11.12 | 11.45 | 11.79 | 12.13 | | 49 | 10.88 | 11.22 | 11.56 | 11.90 | | 50 | 10.63 | 10.98 | 11.32 | 11.66 | | 51 | 10.38 | 10.73 | 11.08 | 11.43 | | 52 | 10.12 | 10.47 | 10.83 | 11.18 | | 53 | 9.86 | 10.21 | 10.57 | 10.92 | | 54 | 9.60 | 9.95 | 10.31 | 10.66 | | 55 | 9.33 | 9.69 | 10.04 | 10.40 | | 56 | 9.06 | 9.41 | 9.77 | 10.13 | | 57 | 9.15 | 9.15 | 9.50 | 9.86 | | 58 | 9.23 | 9.23 | 9.23 | 9.58 | | 59 | 9.31 | 9.31 | 9.31 | 9.31 |

Table No. 45

STATE OF NEW YORK EMPLOYEE'S RETIREMENT SYSTEM MEMBER'S CONTRIBUTION RATES — 25 YEAR POLICE —¾ BASIS

(For persons who became members between 7/1/43 and 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | | | | | | | | | | | | | | | | | | | | | | | | 20 | 8.08% | | | | | | | | | | 21 | 7.96 | 8.10% | | | | | | | | | 22 | 7.83 | 7.97 | 8.10% | | | | | | | | 23 | 7.70 | 7.84 | 7.98 | 8.12% | | | | | | | 24 | 7.58 | 7.72 | 7.86 | 8.00 | 8.14% | | | | | | 25 | 7.47 | 7.60 | 7.74 | 7.89 | 8.03 | 8.16% | | | | | 26 | 7.36 | 7.50 | 7.63 | 7.77 | 7.91 | 8.05 | 8.19% | | | | 27 | 7.24 | 7.38 | 7.52 | 7.66 | 7.80 | 7.94 | 8.08 | 8.22% | | | 28 | 7.14 | 7.28 | 7.41 | 7.55 | 7.68 | 7.82 | 7.96 | 8.10 | 8.24% | | 29 | 7.03 | 7.16 | 7.30 | 7.44 | 7.58 | 7.72 | 7.86 | 8.00 | 8.14 | | 30 | 6.93 | 7.06 | 7.20 | 7.33 | 7.47 | 7.61 | 7.74 | 7.88 | 8.03 | | 31 | 6.82 | 6.96 | 7.09 | 7.22 | 7.36 | 7.50 | 7.64 | 7.78 | 7.92 | | 32 | 6.72 | 6.86 | 6.99 | 7.12 | 7.26 | 7.40 | 7.54 | 7.68 | 7.82 | | 33 | 6.63 | 6.76 | 6.89 | 7.02 | 7.16 | 7.29 | 7.44 | 7.57 | 7.72 | | 34 | 6.53 | 6.66 | 6.79 | 6.92 | 7.06 | 7.20 | 7.32 | 7.47 | 7.61 | | 35 | 6.43 | 6.56 | 6.69 | 6.82 | 6.96 | 7.09 | 7.23 | 7.36 | 7.50 | | 36 | 6.48 | 6.46 | 6.59 | 6.72 | 6.86 | 6.99 | 7.12 | 7.26 | 7.40 | | 37 | 6.54 | 6.52 | 6.50 | 6.62 | 6.76 | 6.89 | 7.03 | 7.16 | 7.30 | | 38 | 6.59 | 6.56 | 6.54 | 6.52 | 6.66 | 6.80 | 6.93 | 7.06 | 7.20 | | 39 | 6.65 | 6.62 | 6.60 | 6.58 | 6.56 | 6.69 | 6.83 | 6.96 | 7.10 | | 40 | 6.71 | 6.68 | 6.66 | 6.64 | 6.62 | 6.60 | 6.73 | 6.86 | 7.00 | | 41 | 6.77 | 6.74 | 6.72 | 6.70 | 6.67 | 6.65 | 6.63 | 6.76 | 6.90 | | 42 | 6.83 | 6.80 | 6.78 | 6.76 | 6.73 | 6.70 | 6.68 | 6.66 | 6.80 | | 43 | 6.89 | 6.86 | 6.84 | 6.82 | 6.79 | 6.76 | 6.74 | 6.72 | 6.70 | | 44 | 6.96 | 6.93 | 6.90 | 6.88 | 6.86 | 6.83 | 6.80 | 6.78 | 6.76 | | 45 | 7.02 | 6.99 | 6.96 | 6.94 | 6.92 | 6.89 | 6.86 | 6.84 | 6.82 | | 46 | 7.09 | 7.06 | 7.03 | 7.00 | 6.98 | 6.96 | 6.93 | 6.90 | 6.88 | | 47 | 7.16 | 7.12 | 7.10 | 7.06 | 7.04 | 7.02 | 6.99 | 6.96 | 6.94 | | 48 | 7.22 | 7.20 | 7.16 | 7.14 | 7.10 | 7.08 | 7.06 | 7.03 | 7.00 | | 49 | 7.29 | 7.26 | 7.24 | 7.20 | 7.18 | 7.14 | 7.12 | 7.10 | 7.07 | | 50 | 7.36 | 7.33 | 7.30 | 7.28 | 7.24 | 7.22 | 7.18 | 7.16 | 7.14 | | 51 | 7.42 | 7.40 | 7.37 | 7.34 | 7.82 | 7.28 | 7.26 | 7.22 | 7.20 | | 52 | 7.49 | 7.46 | 7.44 | 7.41 | 7.38 | 7.36 | 7.32 | 7.30 | 7.26 | | 53 | 7.56 | 7.53 | 7.50 | 7.48 | 7.45 | 7.42 | 7.40 | 7.36 | 7.34 | | 54 | 7.63 | 7.60 | 7.57 | 7.54 | 7.52 | 7.49 | 7.46 | 7.44 | 7.40 | | 55 | 7.70 | 7.67 | 7.64 | 7.61 | 7.58 | 7.56 | 7.58 | 7.50 | 7.48 | | 56 | 7.77 | 7.74 | 7.71 | 7.68 | 7.65 | 7.62 | 7.60 | 7.57 | 7.54 | | 57 | 7.84 | 7.82 | 7.78 | 7.76 | 7.72 | 7.70 | 7.66 | 7.64 | 7.62 | | 58 | 7.92 | 7.88 | 7.86 | 7.82 | 7.80 | 7.76 | 7.74 | 7.70 | 7.68 | | 59 | 7.98 | 7.96 | 7.92 | 7.90 | 7.86 | 7.84 | 7.80 | 7.78 | 7.74 |

Table No. 46

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES - 25 YEAR POLICE - 3/4 BASIS

(For persons who became members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | | | | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | | | 21 | | | | | | | | | | | 22 | | | | | | | | | | | 23 | | | | | | | | | | | 24 | | | | | | | | | | | 25 | | | | | | | | | | | 26 | | | | | | | | | | | 27 | | | | | | | | | | | 28 | | | | | | | | | | | 29 | 8.27% | | | | | | | | | | 30 | 8.17 | 8.30% | | | | | | | | | 31 | 8.06 | 8.20 | 8.34% | | | | | | | | 32 | 7.96 | 8.10 | 8.24 | 8.38 | | | | | | | 33 | 7.85 | 8.00 | 8.14 | 8.28 | 8.42% | | | | | | 34 | 7.75 | 7.89 | 8.03 | 8.18 | 8.32 | 8.46% | | | | | 35 | 7.64 | 7.79 | 7.93 | 8.07 | 8.22 | 8.36 | 8.50% | | | | 36 | 7.54 | 7.68 | 7.83 | 7.97 | 8.12 | 8.26 | 8.40 | 8.54% | | | 37 | 7.44 | 7.58 | 7.72 | 7.87 | 8.01 | 8.16 | 8.30 | 8.44 | 8.58% | | 38 | 7.34 | 7.48 | 7.62 | 7.76 | 7.91 | 8.06 | 8.20 | 8.34 | 8.49 | | 39 | 7.24 | 7.38 | 7.52 | 7.66 | 7.81 | 7.96 | 8.10 | 8.24 | 8.39 | | 40 | 7.14 | 7.28 | 7.42 | 7.56 | 7.71 | 7.86 | 8.00 | 8.14 | 8.29 | | 41 | 7.04 | 7.18 | 7.32 | 7.46 | 7.60 | 7.76 | 7.90 | 8.04 | 8.19 | | 42 | 6.94 | 7.08 | 7.22 | 7.36 | 7.51 | 7.65 | 7.80 | 7.94 | 8.10 | | 43 | 6.84 | 6.98 | 7.12 | 7.26 | 7.40 | 7.56 | 7.70 | 7.84 | 7.99 | | 44 | 6.74 | 6.88 | 7.02 | 7.16 | 7.30 | 7.45 | 7.60 | 7.74 | 7.89 | | 45 | 6.80 | 6.78 | 6.92 | 7.06 | 7.20 | 7.34 | 7.50 | 7.64 | 7.78 | | 46 | 6.86 | 6.84 | 6.82 | 6.96 | 7.10 | 7.24 | 7.39 | 7.54 | 7.68 | | 47 | 6.92 | 6.89 | 6.87 | 6.85 | 7.00 | 7.14 | 7.28 | 7.44 | 7.58 | | 48 | 6.98 | 6.96 | 6.93 | 6.91 | 6.89 | 7.04 | 7.18 | 7.33 | 7.48 | | 49 | 7.04 | 7.02 | 7.00 | 6.97 | 6.95 | 6.93 | 7.08 | 7.22 | 7.38 | | 50 | 7.11 | 7.08 | 7.06 | 7.04 | 7.01 | 6.99 | 6.97 | 7.12 | 7.26 | | 51 | 7.18 | 7.15 | 7.12 | 7.10 | 7.08 | 7.05 | 7.03 | 7.01 | 7.16 | | 52 | 7.24 | 7.22 | 7.19 | 7.16 | 7.14 | 7.12 | 7.09 | 7.07 | 7.05 | | 53 | 7.30 | 7.28 | 7.26 | 7.23 | 7.20 | 7.18 | 7.16 | 7.13 | 7.11 | | 54 | 7.38 | 7.34 | 7.32 | 7.30 | 7.27 | 7.24 | 7.22 | 7.20 | 7.17 | | 55 | 7.44 | 7.42 | 7.38 | 7.36 | 7.34 | 7.31 | 7.28 | 7.26 | 7.24 | | 56 | 7.52 | 7.48 | 7.46 | 7.42 | 7.40 | 7.38 | 7.35 | 7.32 | 7.30 | | 57 | 7.59 | 7.56 | 7.53 | 7.50 | 7.47 | 7.44 | 7.42 | 7.40 | 7.37 | | 58 | 7.66 | 7.63 | 7.60 | 7.57 | 7.54 | 7.51 | 7.48 | 7.46 | 7.44 | | 59 | 7.72 | 7.70 | 7.67 | 7.64 | 7.61 | 7.68 | 7.55 | 7.52 | 7.50 |

Table No. 47

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES — 25 YEAR POLICE — ¾ BASIS

(For persons who became members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 18 | 19 | 20 | 21 | 22 | 23 | 24 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | | | | | | | | | 35 | | | | | | | | | 36 | | | | | | | | | 37 | | | | | | | | | 38 | 8.63% | | | | | | | | 39 | 8.54 | 8.68% | | | | | | | 40 | 8.44 | 8.58 | 8.72% | | | | | | 41 | 8.34 | 8.48 | 8.64 | 8.78% | | | | | 42 | 8.24 | 8.39 | 8.54 | 8.68 | 8.82% | | | | 43 | 8.14 | 8.29 | 8.44 | 8.59 | 8.74 | 8.88% | | | 44 | 8.04 | 8.19 | 8.34 | 8.49 | 8.64 | 8.79 | 8.94% | | 45 | 7.94 | 8.09 | 8.24 | 8.39 | 8.54 | 8.70 | 8.84 | | 46 | 7.84 | 7.98 | 8.14 | 8.29 | 8.44 | 8.60 | 8.74 | | 47 | 7.73 | 7.88 | 8.04 | 8.18 | 8.34 | 8.49 | 8.64 | | 48 | 7.62 | 7.78 | 7.93 | 8.08 | 8.24 | 8.39 | 8.54 | | 49 | 7.52 | 7.68 | 7.82 | 7.98 | 8.14 | 8.29 | 8.44 | | 50 | 7.42 | 7.57 | 7.72 | 7.88 | 8.03 | 8.18 | 8.34 | | 51 | 7.31 | 7.46 | 7.62 | 7.77 | 7.92 | 8.08 | 8.24 | | 52 | 7.20 | 7.36 | 7.50 | 7.66 | 7.82 | 7.98 | 8.13 | | 53 | 7.09 | 7.24 | 7.40 | 7.55 | 7.70 | 7.86 | 8.02 | | 54 | 7.15 | 7.13 | 7.28 | 7.44 | 7.60 | 7.76 | 7.91 | | 55 | 7.21 | 7.19 | 7.17 | 7.32 | 7.48 | 7.64 | 7.80 | | 56 | 7.28 | 7.25 | 7.23 | 7.21 | 7.36 | 7.52 | 7.68 | | 57 | 7.34 | 7.32 | 7.30 | 7.28 | 7.26 | 7.41 | 7.57 | | 58 | 7.41 | 7.38 | 7.36 | 7.34 | 7.32 | 7.30 | 7.45 | | 59 | 7.48 | 7.45 | 7.42 | 7.40 | 7.38 | 7.36 | 7.34 |

Table No. 48

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | | | | | | | | | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20, use 20 year rate | | | | | | | | | | 20 | 15.91% | | | | | | | | | 21 | 15.59 | 15.92% | | | | | | | | 22 | 15.26 | 15.61 | 15.95% | | | | | | | 23 | 14.94 | 15.30 | 15.65 | 15.99% | | | | | | 24 | 14.62 | 14.99 | 15.34 | 15.69 | 16.02% | | | | | 25 | 14.31 | 14.68 | 15.04 | 15.40 | 15.74 | 16.08% | | | | 26 | 14.00 | 14.38 | 14.74 | 15.10 | 15.45 | 15.79 | 16.12% | | | 27 | 13.70 | 14.08 | 14.44 | 14.80 | 15.16 | 15.51 | 15.85 | 16.19% | | 28 | 13.39 | 13.76 | 14.14 | 14.50 | 14.88 | 15.24 | 15.59 | 15.92 | | 29 | 13.09 | 13.46 | 13.84 | 14.21 | 14.58 | 14.95 | 15.30 | 15.66 | | 30 | 12.79 | 13.16 | 13.54 | 13.93 | 14.30 | 14.66 | 15.02 | 15.39 | | 31 | 12.48 | 12.86 | 13.25 | 13.62 | 14.00 | 14.39 | 14.75 | 15.11 | | 32 | 12.19 | 12.56 | 12.95 | 13.34 | 13.71 | 14.10 | 14.48 | 14.84 | | 33 | 11.88 | 12.28 | 12.65 | 13.05 | 13.42 | 13.81 | 14.19 | 14.58 | | 34 | 11.59 | 11.96 | 12.36 | 12.75 | 13.14 | 13.52 | 13.90 | 14.29 | | 35 | 11.28 | 11.68 | 12.06 | 12.45 | 12.84 | 13.24 | 13.62 | 14.00 | | 36 | 10.98 | 11.36 | 11.76 | 12.15 | 12.55 | 12.94 | 13.34 | 13.72 | | 37 | 10.68 | 11.08 | 11.46 | 11.86 | 12.25 | 12.65 | 13.04 | 13.44 | | 38 | 10.39 | 10.78 | 11.16 | 11.55 | 11.95 | 12.35 | 12.75 | 13.14 | | 39 | 10.08 | 10.48 | 10.86 | 11.26 | 11.65 | 12.05 | 12.45 | 12.85 | | 40 | 9.79 | 10.18 | 10.56 | 10.95 | 11.35 | 11.75 | 12.16 | 12.56 | | 41 | 9.49 | 9.88 | 10.26 | 10.66 | 11.05 | 11.45 | 11.85 | 12.26 | | 42 | 9.19 | 9.57 | 9.96 | 10.35 | 10.75 | 11.15 | 11.55 | 11.96 | | 43 | 9.27 | 9.27 | 9.66 | 10.05 | 10.45 | 10.85 | 11.25 | 11.66 | | 44 | 9.36 | 9.36 | 9.36 | 9.75 | 10.15 | 10.54 | 10.95 | 11.35 | | 45 | 9.45 | 9.45 | 9.45 | 9.45 | 9.84 | 10.24 | 10.64 | 11.05 | | 46 | 9.53 | 9.53 | 9.53 | 9.53 | 9.53 | 9.93 | 10.34 | 10.74 | | 47 | 9.62 | 9.62 | 9.62 | 9.62 | 9.62 | 9.62 | 10.02 | 10.42 | | 48 | 9.71 | 9.71 | 9.71 | 9.71 | 9.71 | 9.71 | 9.71 | 10.12 | | 49 | 9.80 | 9.80 | 9.80 | 9.80 | 9.80 | 9.80 | 9.80 | 9.80 | | 50 | 9.90 | 9.90 | 9.90 | 9.90 | 9.90 | 9.90 | 9.90 | 9.90 | | 51 | 9.99 | 9.99 | 9.99 | 9.99 | 9.99 | 9.99 | 9.99 | 9.99 | | 52 | 10.08 | 10.08 | 10.08 | 10.08 | 10.08 | 10.08 | 10.08 | 10.08 | | 53 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | 10.18 | | 54 | 10.27 | 10.27 | 10.27 | 10.27 | 10.27 | 10.27 | 10.27 | 10.27 | | 55 | 10.36 | 10.36 | 10.36 | 10.36 | 10.36 | 10.36 | 10.36 | 10.36 | | 56 | 10.46 | 10.46 | 10.46 | 10.46 | 10.46 | 10.46 | 10.46 | 10.46 | | 57 | 10.55 | 10.55 | 10.55 | 10.55 | 10.55 | 10.55 | 10.55 | 10.55 | | 58 | 10.65 | 10.65 | 10.65 | 10.65 | 10.65 | 10.65 | 10.65 | 10.65 | | 59 | 10.75 | 10.75 | 10.75 | 10.75 | 10.75 | 10.75 | 10.75 | 10.75 | | 60 | 10.84 | 10.84 | 10.84 | 10.84 | 10.84 | 10.84 | 10.84 | 10.84 | | 61 | 10.94 | 10.94 | 10.94 | 10.94 | 10.94 | 10.94 | 10.94 | 10.94 |

Table No. 49

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | | | | | | | | | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20, use 20 year rate | | | | | | | | | | 20 | | | | | | | | | | 21 | | | | | | | | | | 22 | | | | | | | | | | 23 | | | | | | | | | | 24 | | | | | | | | | | 25 | | | | | | | | | | 26 | | | | | | | | | | 27 | | | | | | | | | | 28 | 16.26% | | | | | | | | | 29 | 16.00 | 16.32% | | | | | | | | 30 | 15.74 | 16.08 | 16.41% | | | | | | | 31 | 15.48 | 15.82 | 16.16 | 16.50% | | | | | | 32 | 15.21 | 15.58 | 15.91 | 16.26 | 16.59% | | | | | 33 | 14.94 | 15.30 | 15.66 | 16.01 | 16.36 | 16.69% | | | | 34 | 14.66 | 15.04 | 15.40 | 15.76 | 16.12 | 16.46 | 16.79% | | | 35 | 14.39 | 14.78 | 15.14 | 15.51 | 15.88 | 16.22 | 16.56 | 16.90% | | 36 | 14.11 | 14.49 | 14.88 | 15.25 | 15.61 | 15.98 | 16.34 | 16.68 | | 37 | 13.82 | 14.21 | 14.60 | 14.99 | 15.36 | 15.72 | 16.09 | 16.45 | | 38 | 13.54 | 13.94 | 14.32 | 14.71 | 15.10 | 15.48 | 15.84 | 16.21 | | 39 | 13.25 | 13.65 | 14.05 | 14.44 | 14.82 | 15.21 | 15.59 | 15.96 | | 40 | 12.96 | 13.36 | 13.76 | 14.16 | 14.55 | 14.95 | 15.34 | 15.71 | | 41 | 12.66 | 13.08 | 13.48 | 13.88 | 14.28 | 14.68 | 15.06 | 15.46 | | 42 | 12.38 | 12.78 | 13.19 | 13.59 | 14.00 | 14.40 | 14.80 | 15.19 | | 43 | 12.06 | 12.48 | 12.89 | 13.30 | 13.70 | 14.11 | 14.52 | 14.92 | | 44 | 11.76 | 12.18 | 12.59 | 13.00 | 13.41 | 13.82 | 14.24 | 14.65 | | 45 | 11.45 | 11.86 | 12.29 | 12.70 | 13.11 | 13.54 | 13.95 | 14.36 | | 46 | 11.15 | 11.56 | 11.98 | 12.39 | 12.81 | 13.24 | 13.65 | 14.06 | | 47 | 10.84 | 11.25 | 11.66 | 12.09 | 12.50 | 12.92 | 13.35 | 13.78 | | 48 | 10.52 | 10.94 | 11.35 | 11.78 | 12.20 | 12.61 | 13.05 | 13.48 | | 49 | 10.21 | 10.62 | 11.04 | 11.46 | 11.89 | 12.31 | 12.74 | 13.16 | | 50 | 9.90 | 10.31 | 10.72 | 11.14 | 11.56 | 11.99 | 12.42 | 12.85 | | 51 | 9.99 | 9.99 | 10.40 | 10.82 | 11.24 | 11.68 | 12.10 | 12.54 | | 52 | 10.08 | 10.08 | 10.08 | 10.50 | 10.92 | 11.35 | 11.79 | 12.21 | | 53 | 10.18 | 10.18 | 10.18 | 10.18 | 10.60 | 11.02 | 11.45 | 11.89 | | 54 | 10.27 | 10.27 | 10.27 | 10.27 | 10.27 | 10.69 | 11.12 | 11.55 | | 55 | 10.36 | 10.36 | 10.36 | 10.36 | 10.36 | 16.36 | 10.79 | 11.22 | | 56 | 10.46 | 10.46 | 10.46 | 10.46 | 10.46 | 10.46 | 10.46 | 10.89 | | 57 | 10.55 | 10.55 | 10.55 | 10.55 | 10.55 | 10.55 | 10.55 | 10.55 | | 58 | 10.65 | 10.65 | 10.65 | 10.65 | 10.65 | 10.65 | 10.65 | 10.65 | | 59 | 10.75 | 10.75 | 10.75 | 10.75 | 10.75 | 10.75 | 10.75 | 10.75 | | 60 | 10.84 | 10.84 | 10.84 | 10.84 | 10.84 | 10.84 | 10.84 | 10.84 | | 61 | 10.94 | 10.94 | 10.94 | 10.94 | 10.94 | 10.94 | 10.94 | 10.94 |

Table No. 50

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | --- | --- | --- | --- | --- | | | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20, use 20 year rate | | | | | | 20 | | | | | | 21 | | | | | | 22 | | | | | | 23 | | | | | | 24 | | | | | | 25 | | | | | | 26 | | | | | | 27 | | | | | | 28 | | | | | | 29 | | | | | | 30 | | | | | | 31 | | | | | | 32 | | | | | | 33 | | | | | | 34 | | | | | | 35 | | | | | | 36 | 17.01% | | | | | 37 | 16.79 | 17.12% | | | | 38 | 16.56 | 16.90 | 17.24% | | | 39 | 16.32 | 16.69 | 17.02 | 17.36% | | 40 | 16.09 | 16.45 | 16.80 | 17.14 | | 41 | 15.84 | 16.21 | 16.58 | 16.94 | | 42 | 15.59 | 15.96 | 16.34 | 16.71 | | 43 | 15.32 | 15.71 | 16.10 | 16.48 | | 44 | 15.05 | 15.45 | 15.85 | 16.24 | | 45 | 14.78 | 15.18 | 15.59 | 15.99 | | 46 | 14.49 | 14.90 | 15.31 | 15.71 | | 47 | 14.19 | 14.61 | 15.02 | 15.44 | | 48 | 13.90 | 14.31 | 14.74 | 15.16 | | 49 | 13.60 | 14.02 | 14.45 | 14.88 | | 50 | 13.29 | 13.72 | 14.15 | 14.58 | | 51 | 12.98 | 13.41 | 13.85 | 14.29 | | 52 | 12.65 | 13.09 | 13.54 | 13.98 | | 53 | 12.32 | 12.76 | 13.21 | 13.65 | | 54 | 12.00 | 12.44 | 12.89 | 13.32 | | 55 | 11.66 | 12.11 | 12.55 | 13.00 | | 56 | 11.32 | 11.76 | 12.21 | 12.66 | | 57 | 10.99 | 11.44 | 11.88 | 12.32 | | 58 | 10.65 | 11.09 | 11.54 | 11.98 | | 59 | 10.75 | 10.75 | 31.19 | 11.64 | | 60 | 10.84 | 10.84 | 10.84 | 11.29 | | 61 | 10.94 | 10.94 | 10.94 | 10.94 |

Table No. 51

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – 3/4 Basis

(For persons who became members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 20 | 10.40% | | | | | | | | 21 | 10.24 | 10.40% | | | | | | | 22 | 10.09 | 10.26 | 10.42% | | | | | | 23 | 9.94 | 10.11 | 10.28 | 10.44% | | | | | 24 | 9.79 | 9.96 | 10.13 | 10.30 | 10.45% | | | | 25 | 9.65 | 9.82 | 9.99 | 10.16 | 10.32 | 10.48% | | | 26 | 9.51 | 9.68 | 9.85 | 10.02 | 10.18 | 10.34 | 10.50% | | 27 | 9.38 | 9.55 | 9.72 | 9.88 | 10.05 | 10.22 | 10.38 | | 28 | 9.24 | 9.40 | 9.58 | 9.74 | 9.92 | 10.09 | 10.26 | | 29 | 9.10 | 9.27 | 9.44 | 9.62 | 9.78 | 9.96 | 10.12 | | 30 | 8.98 | 9.14 | 9.31 | 9.49 | 9.66 | 9.82 | 9.99 | | 31 | 8.84 | 9.01 | 9.18 | 9.35 | 9.52 | 9.70 | 9.87 | | 32 | 8.72 | 8.88 | 9.06 | 9.23 | 9.40 | 9.58 | 9.75 | | 33 | 8.58 | 8.76 | 8.92 | 9.10 | 9.27 | 9.44 | 9.62 | | 34 | 8.46 | 8.62 | 8.80 | 8.98 | 9.15 | 9.32 | 9.49 | | 35 | 8.32 | 8.50 | 8.67 | 8.84 | 9.02 | 9.20 | 9.37 | | 36 | 8.19 | 8.36 | 8.54 | 8.72 | 8.90 | 9.07 | 9.25 | | 37 | 8.06 | 8.24 | 8.41 | 8.59 | 8.76 | 8.94 | 9.12 | | 38 | 7.94 | 8.11 | 8.28 | 8.46 | 8.64 | 8.82 | 9.00 | | 39 | 7.81 | 7.98 | 8.15 | 8.33 | 8.50 | 8.68 | 8.86 | | 40 | 7.69 | 7.86 | 8.02 | 8.20 | 8.38 | 8.56 | 8.74 | | 41 | 7.56 | 7.74 | 7.90 | 8.08 | 8.24 | 8.42 | 8.60 | | 42 | 7.44 | 7.60 | 7.78 | 7.94 | 8.12 | 8.30 | 8.48 | | 43 | 7.50 | 7.48 | 7.65 | 7.82 | 8.00 | 8.17 | 8.34 | | 44 | 7.58 | 7.55 | 7.52 | 7.70 | 7.87 | 8.04 | 8.22 | | 45 | 7.65 | 7.62 | 7.60 | 7.57 | 7.74 | 7.92 | 8.09 | | 46 | 7.72 | 7.69 | 7.66 | 7.64 | 7.61 | 7.78 | 7.96 | | 47 | 7.80 | 7.76 | 7.74 | 7.70 | 7.68 | 7.66 | 7.83 | | 48 | 7.87 | 7.84 | 7.81 | 7.78 | 7.75 | 7.72 | 7.70 | | 49 | 7.94 | 7.92 | 7.88 | 7.86 | 7.82 | 7.80 | 7.77 | | 50 | 8.02 | 7.99 | 7.96 | 7.94 | 7.90 | 7.88 | 7.84 | | 51 | 8.08 | 8.06 | 8.04 | 8.01 | 7.98 | 7.95 | 7.92 | | 52 | 8.16 | 8.13 | 8.10 | 8.08 | 8.06 | 8.02 | 8.00 | | 53 | 8.24 | 8.21 | 8.18 | 8.16 | 8.13 | 8.10 | 8.08 | | 54 | 8.32 | 8.28 | 8.26 | 8.22 | 8.20 | 8.18 | 8.15 | | 55 | 8.39 | 8.36 | 8.33 | 8.30 | 8.27 | 8.24 | 8.22 | | 56 | 8.47 | 8.44 | 8.41 | 8.38 | 8.35 | 8.32 | 8.30 | | 57 | 8.54 | 8.52 | 8.48 | 8.46 | 8.42 | 8.40 | 8.36 | | 58 | 8.62 | 8.60 | 8.56 | 8.54 | 8.50 | 8.48 | 8.44 | | 59 | 8.70 | 8.68 | 8.64 | 8.62 | 8.58 | 8.56 | 8.52 | | 60 | 8.74 | 8.74 | 8.72 | 8.69 | 8.66 | 8.63 | 8.60 | | 61 | 8.80 | 8.80 | 8.80 | 8.77 | 8.74 | 8.71 | 8.68 |

Table No. 52

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contributions Rate – 20 Year Police or Fire – 3/4 Basis

(For persons who became members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | 10.54% | | | | | | | | 28 | 10.41 | 10.57% | | | | | | | 29 | 10.29 | 10.45 | 10.60% | | | | | | 30 | 10.16 | 10.33 | 10.49 | 10.64% | | | | | 31 | 10.04 | 10.21 | 10.37 | 10.53 | 10.69% | | | | 32 | 9.92 | 10.08 | 10.26 | 10.42 | 10.58 | 10.74% | | | 33 | 9.80 | 9.96 | 10.13 | 10.30 | 10.46 | 10.63 | 10.78% | | 34 | 9.67 | 9.84 | 10.02 | 10.18 | 10.35 | 10.52 | 10.68 | | 35 | 9.54 | 9.72 | 9.90 | 10.06 | 10.24 | 10.41 | 10.57 | | 36 | 9.42 | 9.60 | 9.77 | 9.95 | 10.12 | 10.28 | 10.46 | | 37 | 9.30 | 9.47 | 9.64 | 9.82 | 10.00 | 10.18 | 10.34 | | 38 | 9.17 | 9.35 | 9.53 | 9.70 | 9.88 | 10.06 | 10.26 | | 39 | 9.04 | 9.22 | 9.40 | 9.58 | 9.76 | 9.94 | 10.12 | | 40 | 8.92 | 9.10 | 9.28 | 9.46 | 9.64 | 9.82 | 10.00 | | 41 | 8.79 | 8.97 | 9.16 | 9.34 | 9.52 | 9.70 | 9.88 | | 42 | 8.66 | 8.85 | 9.03 | 9.22 | 9.40 | 9.58 | 9.76 | | 43 | 8.53 | 8.71 | 8.90 | 9.08 | 9.27 | 9.45 | 9.64 | | 44 | 8.40 | 8.58 | 8.77 | 8.96 | 9.14 | 9.32 | 9.51 | | 45 | 8.27 | 8.44 | 8.63 | 8.82 | 9.01 | 9.20 | 9.39 | | 46 | 8.14 | 8.32 | 8.50 | 8.69 | 8.88 | 9.06 | 9.26 | | 47 | 8.00 | 8.19 | 8.37 | 8.55 | 8.74 | 8.93 | 9.12 | | 48 | 7.88 | 8.06 | 8.24 | 8.42 | 8.61 | 8.80 | 8.98 | | 49 | 7.74 | 7.92 | 8.10 | 8.29 | 8.48 | 8.66 | 8.86 | | 50 | 7.82 | 7.80 | 7.98 | 8.16 | 8.34 | 8.52 | 8.72 | | 51 | 7.89 | 7.86 | 7.84 | 8.02 | 8.20 | 8.39 | 8.58 | | 52 | 7.96 | 7.94 | 7.91 | 7.88 | 8.07 | 8.26 | 8.44 | | 53 | 8.04 | 8.02 | 7.98 | 7.96 | 7.94 | 8.12 | 8.30 | | 54 | 8.12 | 8.09 | 8.06 | 8.03 | 8.00 | 7.98 | 8.16 | | 55 | 8.20 | 8.16 | 8.14 | 8.10 | 8.08 | 8.05 | 8.02 | | 56 | 8.27 | 8.24 | 8.22 | 8.18 | 8.16 | 8.12 | 8.10 | | 57 | 8.34 | 8.32 | 8.29 | 8.26 | 8.23 | 8.20 | 8.17 | | 58 | 8.42 | 8.39 | 8.36 | 8.34 | 8.31 | 8.28 | 8.25 | | 59 | 8.50 | 8.46 | 8.44 | 8.42 | 8.39 | 8.36 | 8.33 | | 60 | 8.57 | 8.54 | 8.51 | 8.48 | 8.46 | 8.44 | 8.40 | | 61 | 8.65 | 8.62 | 8.59 | 8.56 | 8.54 | 8.51 | 8.48 |

Table No. 53

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – 3/4 Basis

(For persons who became members between 7/1/43 & 3/31/52)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | 10.84% | | | | | | | | 35 | 10.73 | 10.89% | | | | | | | 36 | 10.63 | 10.79 | 10.94% | | | | | | 37 | 10.52 | 10.68 | 10.84 | 11.00% | | | | | 38 | 10.40 | 10.58 | 10.74 | 10.90 | 11.06% | | | | 39 | 10.29 | 10.46 | 10.63 | 10.80 | 10.96 | 11.12% | | | 40 | 10.18 | 10.35 | 10.52 | 10.70 | 10.86 | 11.02 | | | 41 | 10.06 | 10.24 | 10.42 | 10.58 | 10.76 | 10.93 | | | 42 | 9.94 | 10.12 | 10.30 | 10.48 | 10.65 | 10.82 | | | 43 | 9.82 | 10.00 | 10.18 | 10.36 | 10.54 | 10.72 | | | 44 | 9.70 | 9.88 | 10.06 | 10.25 | 10.44 | 10.62 | | | 45 | 9.58 | 9.76 | 9.95 | 10.13 | 10.32 | 10.50 | | | 46 | 9.44 | 9.63 | 9.82 | 10.01 | 10.20 | 10.38 | | | 47 | 9.32 | 9.51 | 9.70 | 9.88 | 10.07 | 10.26 | | | 48 | 9.18 | 9.38 | 9.57 | 9.76 | 9.95 | 10.14 | | | 49 | 9.05 | 9.24 | 9.44 | 9.63 | 9.82 | 10.02 | | | 50 | 8.91 | 9.10 | 9.30 | 9.50 | 9.70 | 9.89 | | | 51 | 8.77 | 8.97 | 9.17 | 9.36 | 9.56 | 9.76 | | | 52 | 8.64 | 8.82 | 9.02 | 9.22 | 9.43 | 9.63 | | | 53 | 8.50 | 8.69 | 8.88 | 9.08 | 9.28 | 9.48 | | | 54 | 8.36 | 8.54 | 8.74 | 8.94 | 9.14 | 9.34 | | | 55 | 8.22 | 8.40 | 8.60 | 8.80 | 9.00 | 9.20 | | | 56 | 8.08 | 8.26 | 8.46 | 8.65 | 8.85 | 9.05 | | | 57 | 8.14 | 8.12 | 0.32 | 8.52 | 8.71 | 8.90 | | | 58 | 8.22 | 8.20 | 8.17 | 8.36 | 8.56 | 8.76 | | | 59 | 8.30 | 8.27 | 8.24 | 8.22 | 8.42 | 8.62 | | | 60 | 8.38 | 8.34 | 8.32 | 8.29 | 8.26 | 8.46 | | | 61 | 8.46 | 8.42 | 8.40 | 8.36 | 8.34 | 8.32 | |

Table No. 54

STATE OF NEW YORK MEMBERS CONTRIBUTION RATES — 60 YEAR PLAN

(For persons who became members between 1/1/21 & 6/30/43)

| | Clerical & Administrative | Laborers | Institutional | Firemen | Policemen | | | | --- | --- | --- | --- | --- | --- | --- | --- | | AGE | MEN | WOMEN | | MEN | WOMEN | | | | | | | | | | | | | 12 | .0421 | .0475 | .0306 | .0358 | .0403 | | | | 13 | .0422 | .0476 | .0310 | .0360 | .0406 | | | | 14 | .0423 | .0477 | .0314 | .0363 | .0409 | | | | 15 | .0424 | .0478 | .0318 | .0366 | .0413 | | | | 16 | .0425 | .0479 | .0322 | .0369 | .0416 | | | | 17 | .0426 | .0480 | .0327 | .0372 | .0419 | | | | 18 | .0427 | .0481 | .0332 | .0276 | .0423 | | | | 19 | .0428 | .0482 | .0337 | .0380 | .0427 | | .0362 | | 20 | .0429 | .0483 | .0342 | .0384 | .0432 | .0369 | .0366 | | 21 | .0430 | .0484 | .0347 | .0388 | .0437 | .0372 | .0370 | | 22 | .0431 | .0486 | .0352 | .0392 | .0442 | .0375 | .0374 | | 23 | .0433 | .0488 | .0358 | .0397 | .0447 | .0378 | .0378 | | 24 | .0435 | .0490 | .0364 | .0402 | .0452 | .0381 | .0382 | | 25 | .0437 | .0493 | .0370 | .0407 | .0458 | .0385 | .0386 | | 26 | .0439 | .0496 | .0376 | .0412 | .0464 | .0389 | .0390 | | 27 | .0441 | .0499 | .0382 | .0417 | .0470 | .0393 | .0394 | | 28 | .0444 | .0502 | .0388 | .0423 | .0477 | .0397 | .0399 | | 29 | .0448 | .0506 | .0396 | .0429 | .0484 | .0401 | .0404 | | 30 | .0458 | .0511 | .0404 | .0436 | .0492 | .0406 | .0409 | | 31 | .0456 | .0516 | .0412 | .0443 | .0500 | .0411 | .0414 | | 32 | .0463 | .0522 | .0420 | .0450 | .0508 | .0416 | .0420 | | 33 | .0468 | .0528 | .0428 | .0457 | .0516 | .0421 | .0426 | | 34 | .0474 | .0534 | .0436 | .0465 | .0524 | .0427 | .0432 | | 35 | .0480 | .0541 | .0444 | .0473 | .0533 | .0433 | .0438 | | 36 | .0486 | .0548 | .0452 | .0481 | .0542 | .0439 | .0444 | | 37 | .0493 | .0555 | .0460 | .0489 | .0551 | .0445 | .0450 | | 38 | .0501 | .0563 | .0468 | .0497 | .0561 | .0451 | .0456 | | 39 | .0509 | .0572 | .0478 | .0506 | .0571 | .0458 | .0463 | | 40 | .0517 | .0582 | .0488 | .0515 | .0581 | .0465 | .0470 | | 41 | .0525 | .0592 | .0498 | .0524 | .0591 | .0472 | .0477 | | 42 | .0533 | .0602 | .0508 | .0533 | .0601 | .0479 | .0484 | | 43 | .0542 | .0612 | .0518 | .0542 | .0611 | .0486 | .0491 | | 44 | .0551 | .0622 | .0528 | .0551 | .0622 | .0493 | .0498 | | 45 | .0561 | .0638 | .0539 | .0561 | .0633 | .0500 | .0505 | | 46 | .0571 | .0644 | .0550 | .0571 | .0644 | .0507 | .0512 | | 47 | .0581 | .0655 | .0561 | .0581 | .0655 | .0514 | .0519 | | 48 | .0591 | .0666 | .0572 | .0591 | .0666 | .0522 | .0527 | | 49 | .0602 | .0678 | .0584 | .0602 | .0678 | .0530 | .0535 | | 50 | .0613 | .0691 | .0596 | .0613 | .0691 | .0538 | .0543 | | 51 | .0624 | .0704 | .0608 | .0624 | .0704 | .0546 | .0551 | | 52 | .0635 | .0717 | .0620 | .0635 | .0717 | .0554 | .0559 | | 53 | .0647 | .0730 | .0632 | .0647 | .0730 | .0562 | .0567 | | 54 | .0659 | .0743 | .0644 | .0659 | .0743 | .0571 | .0575 | | 55 | .0672 | .0757 | .0656 | .0672 | .0757 | .0580 | .0583 | | 56 | .0685 | .0771 | .0668 | .0685 | .0771 | .0589 | .0591 | | 57 | .0698 | .0785 | .0680 | .0698 | .0785 | .0598 | .0599 | | 58 | .0711 | .0799 | .0693 | .0711 | .0799 | .0607 | .0608 | | 59& | .0724 | .0813 | .0707 | .0724 | .0813 | .0616 | .0617 | | Over | | | | | | | |

Table No. 55

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES — 55 YEAR PLAN

(For persons who became members between 1/1/21 & 6/30/43)

| | Clerical & Administrative | Laborers | Institutional | Firemen | Policemen | | | | --- | --- | --- | --- | --- | --- | --- | --- | | AGE | MEN | WOMEN | | MEN | WOMEN | | | | | | | | | | | | | 15 | .0646 | .0721 | .0488 | .0552 | .0616 | | | | 16 | .0647 | .0722 | .0494 | .0556 | .0621 | | | | 17 | .0647 | .0722 | .0501 | .0561 | .0626 | | | | 18 | .0648 | .0723 | .0507 | .0566 | .0631 | | | | 19 | .0649 | .0724 | .0514 | .0571 | .0637 | | | | 20 | .0650 | .0725 | .0522 | .0576 | .0643 | .0550 | .0528 | | 21 | .0651 | .0727 | .0529 | .0582 | .0649 | .0553 | .0533 | | 22 | .0652 | .0728 | .0537 | .0588 | .0656 | .0557 | .0537 | | 23 | .0654 | .0730 | .0546 | .0594 | .0663 | .0561 | .0543 | | 24 | .0656 | .0732 | .0554 | .0601 | .0671 | .0565 | .0548 | | 25 | .0658 | .0735 | .0563 | .0608 | .0679 | .0570 | .0554 | | 26 | .0661 | .0738 | .0572 | .0615 | .0687 | .0575 | .0560 | | 27 | .0665 | .0742 | .0582 | .0623 | .0696 | .0581 | .0566 | | 28 | .0669 | .0746 | .0592 | .0632 | .0705 | .0587 | .0573 | | 29 | .0673 | .0751 | .0602 | .0640 | .0714 | .0593 | .0579 | | 30 | .0679 | .0757 | .0613 | .0649 | .0725 | .0599 | .0586 | | 31 | .0685 | .0764 | .0623 | .0659 | .0735 | .0606 | .0594 | | 32 | .0691 | .0771 | .0634 | .0669 | .0747 | .0614 | .0601 | | 33 | .0698 | .0779 | .0646 | .0680 | .0759 | .0621 | .0609 | | 34 | .0706 | .0788 | .0658 | .0691 | .0771 | .0629 | .0617 | | 35 | .0715 | .0797 | .0670 | .0702 | .0754 | .0637 | .0625 | | 36 | .0724 | .0808 | .0682 | .0714 | .0797 | .0646 | .0634 | | 37 | .0733 | .0818 | .0695 | .0726 | .0810 | .0654 | .0642 | | 38 | .0743 | .0830 | .0708 | .0738 | .0823 | .0663 | .0651 | | 39 | .0754 | .0841 | .0721 | .0750 | .0837 | .0672 | .0660 | | 40 | .0765 | .0854 | .0735 | .0762 | .0850 | .0682 | .0669 | | 41 | .0777 | .0867 | .0749 | .0774 | .0864 | .0691 | .0679 | | 42 | .0789 | .0880 | .0763 | .0787 | .0878 | .0701 | .0688 | | 43 | .0801 | .0894 | .0778 | .0800 | .0893 | .0711 | .0698 | | 44 | .0814 | .0909 | .0793 | .0813 | .0908 | .0721 | .0708 | | 45 | .0827 | .0923 | .0809 | .0827 | .0922 | .0731 | .0718 | | 46 | .0841 | .0938 | .0824 | .0840 | .0938 | .0742 | .0728 | | 47 | .0855 | .0954 | .0841 | .0854 | .0953 | .0752 | .0739 | | 48 | .0869 | .0970 | .0857 | .0869 | .0970 | .0763 | .0749 | | 49 | .0884 | .0986 | .0874 | .0884 | .0986 | .0774 | .0760 | | 50 | .0899 | .1003 | .0891 | .0899 | .1004 | .0785 | .0771 | | 51 | .0915 | .1021 | .0908 | .0916 | .1022 | .0797 | .0782 | | 52 | .0931 | .1039 | .0925 | .0932 | .1040 | .0808 | .0793 | | 53 | .0948 | .1058 | .0942 | .0949 | .1059 | .0820 | .0804 | | 54 & Over | .0965 | .1077 | .0960 | .0965 | .1077 | .0832 | .0815 |

TABLE No. 56

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM

MEMBERS CONTRIBUTION RATES – 25 YEAR POLICE – ½ BASIS,

(For persons who become members between 1/1/21 & 6/30/13)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL SERVICE IN THE DIVISION OF STATE POLICE IN THE EXECUTIVE DEPARTMENT | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | | | | | | | | | | | | | | | | | | | | | | | | 20 | 8.99% | | | | | | | | | | 21 | 8.78 | 9.05% | | | | | | | | | 22 | 8.57 | 8.85 | 9.12% | | | | | | | | 23 | 8.37 | 8.65 | 8.92 | 9.19% | | | | | | | 24 | 8.18 | 8.45 | 8.72 | 9.00 | 9.27% | | | | | | 25 | 7.98 | 8.26 | 8.53 | 8.80 | 9.08 | 9.35% | | | | | 26 | 7.79 | 8.06 | 8.34 | 8.61 | 8.89 | 9.17 | 9.44% | | | | 27 | 7.60 | 7.97 | 8.51 | 8.42 | 8.70 | 8.98 | 9.26 | 9.53% | | | 28 | 7.41 | 7.60 | 7.96 | 8.24 | 8.52 | 8.79 | 9.07 | 9.35 | 9.63% | | 29 | 7.22 | 7.50 | 7.77 | 8.05 | 8.33 | 9.61 | 8.39 | 9.17 | 9.45 | | 30 | 7.04 | 7.31 | 7.59 | 7.87 | 8.14 | 8.43 | 8.71 | 8.99 | 9.27 | | 31 | 6.85 | 7.12 | 7.40 | 7.68 | 7.96 | 8.24 | 8.53 | 8.81 | 9.09 | | 32 | 6.67 | 6.94 | 7.22 | 7.50 | 7.77 | 8.06 | 8.34 | 8.63 | 8.91 | | 33 | 6.49 | 6.76 | 7.03 | 7.31 | 7.59 | 7.87 | 8.16 | 8.45 | 8.74 | | 34 | 6.31 | 6.58 | 6.85 | 7.12 | 7.40 | 7.69 | 7.97 | 8.26 | 8.55 | | 35 | 6.13 | 6.39 | 6.67 | 6.94 | 7.22 | 7.50 | 7.79 | 8.08 | 8.37 | | 36 | 6.21 | 6.21 | 6.43 | 6.76 | 7.04 | 7.32 | 7.60 | 7.89 | 8.18 | | 37 | 6.30 | 6.30 | 6.30 | 6.57 | 6.85 | 7.13 | 7.42 | 7.71 | 8.00 | | 38 | 6.39 | 6.39 | 6.39 | 6.39 | 6.66 | 6.95 | 7.23 | 7.52 | 7.81 | | 39 | 6.48 | 6.48 | 6.48 | 6.48 | 6.48 | 6.76 | 7.07 | 7.33 | 7.62 | | 40 | 6.57 | 6.57 | 6.57 | 6.57 | 6.57 | 6.57 | 6.86 | 7.15 | 7.44 | | 41 | 6.67 | 6.67 | 6.67 | 6.67 | 6.67 | 6.67 | 6.67 | 6.96 | 7.25 | | 42 | 6.77 | 6.77 | 6.77 | 6.77 | 6.77 | 6.77 | 6.77 | 6.77 | 7.06 | | 43 | 6.87 | 6.87 | 6.87 | 6.87 | 6.87 | 6.87 | 6.87 | 6.87 | 6.87 | | 44 | 6.97 | 6.97 | 6.97 | 6.97 | 6.97 | 6.97 | 6.97 | 6.97 | 6.97 | | 45 | 7.07 | 7.07 | 7.07 | 7.07 | 7.07 | 7.07 | 7.07 | 7.07 | 7.07 | | 46 | 7.17 | 7.17 | 7.17 | 7.17 | 7.17 | 7.17 | 7.17 | 7.17 | 7.17 | | 47 | 7.28 | 7.28 | 7.28 | 7.28 | 7.28 | 7.28 | 7.28 | 7.28 | 7.28 | | 48 | 7.38 | 7.30 | 7.38 | 7.38 | 7.38 | 7.38 | 7.38 | 7.38 | 7.38 | | 49 | 7.49 | 7.49 | 7.49 | 7.49 | 7.49 | 7.49 | 7.49 | 7.49 | 7.49 | | 50 | 7.60 | 7.60 | 7.60 | 7.60 | 7.60 | 7.60 | 7.60 | 7.60 | 7.60 | | 51 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | | 52 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | | 53 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | | 54 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | | 55 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | | 56 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | | 57 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | | 58 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | | 59 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 |

Table No. 57

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES—25 YEAR POLICE—½ BASIS

(For persons who became members between 1/1/21 & 6/30/43)

| | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL SERVICE IN THE DIVISION OF STATE POLICE IN THE EXECUTIVE DEPARTMENT | | | | | | | | | | | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | | | | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | | | 21 | | | | | | | | | | | 22 | | | | | | | | | | | 23 | | | | | | | | | | | 24 | | | | | | | | | | | 25 | | | | | | | | | | | 26 | | | | | | | | | | | 27 | | | | | | | | | | | 28 | | | | | | | | | | | 29 | 9.73% | | | | | | | | | | 30 | 9.56 | 9.84% | | | | | | | | | 31 | 9.38 | 9.66 | 9.94% | | | | | | | | 32 | 9.20 | 9.49 | 9.78 | 10.06% | | | | | | | 33 | 9.02 | 9.31 | 9.60 | 9.89 | 10.18% | | | | | | 34 | 8.84 | 9.14 | 9.43 | 9.72 | 10.01 | 10.30% | | | | | 35 | 8.66 | 8.96 | 9.25 | 9.54 | 9.84 | 10.13 | 10.42% | | | | 36 | 8.48 | 8.77 | 9.07 | 9.37 | 9.66 | 9.96 | 10.26 | 10.55% | | | 37 | 8.29 | 8.59 | 8.89 | 9.19 | 9.49 | 9.79 | 10.09 | 10.39 | 10.68% | | 38 | 8.11 | 8.41 | 8.71 | 9.01 | 9.31 | 9.61 | 9.91 | 10.22 | 10.52 | | 39 | 7.92 | 8.22 | 8.52 | 8.83 | 9.13 | 9.44 | 9.74 | 10.04 | 10.35 | | 40 | 7.73 | 8.03 | 8.34 | 8.64 | 8.95 | 9.25 | 9.56 | 9.87 | 10.18 | | 41 | 7.54 | 7.84 | 8.14 | 8.45 | 8.76 | 9.07 | 9.38 | 9.69 | 10.00 | | 42 | 7.35 | 7.65 | 7.95 | 8.26 | 8.57 | 8.88 | 9.20 | 9.51 | 9.83 | | 43 | 7.16 | 7.46 | 7.76 | 8.07 | 8.38 | 8.69 | 9.01 | 9.32 | 9.64 | | 44 | 6.97 | 7.26 | 7.57 | 7.87 | 8.18 | 8.50 | 8.82 | 9.13 | 9.45 | | 45 | 7.07 | 7.07 | 7.37 | 7.68 | 7.99 | 8.30 | 8.62 | 8.94 | 9.26 | | 46 | 7.17 | 7.17 | 7.17 | 7.48 | 7.79 | 8.10 | 8.42 | 8.74 | 9.07 | | 47 | 7.28 | 7.28 | 7.28 | 7.28 | 7.58 | 7.90 | 8.22 | 8.54 | 8.86 | | 48 | 7.38 | 7.38 | 7.38 | 7.38 | 7.38 | 7.69 | 8.02 | 8.34 | 8.66 | | 49 | 7.49 | 7.49 | 7.49 | 7.49 | 7.49 | 7.49 | 7.81 | 8.13 | 8.46 | | 50 | 7.60 | 7.60 | 7.60 | 7.60 | 7.60 | 7.60 | 7.60 | 7.92 | 8.25 | | 51 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | 7.71 | 8.04 | | 52 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | 7.82 | | 53 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | 7.94 | | 54 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | 8.05 | | 55 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | 8.16 | | 56 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | 8.28 | | 57 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | | 58 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | | 59 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 |

Table No. 58

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES—25 YEAR POLICE—½ BASIS

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL SERVICE IN THE DIVISION OF STATE POLICE IN THE EXECUTIVE DEPARTMENT | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 18 | 19 | 20 | 21 | 22 | 23 | 24 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | | | | | | | | | 35 | | | | | | | | | 36 | | | | | | | | | 37 | | | | | | | | | 38 | 10.81% | | | | | | | | 39 | 10.65 | 10.95% | | | | | | | 40 | 10.48 | 10.79 | 11.09% | | | | | | 41 | 10.31 | 10.62 | 10.93 | 11.23% | | | | | 42 | 10.14 | 10.45 | 10.77 | 11.08 | 11.38% | | | | 43 | 9.96 | 10.28 | 10.59 | 10.91 | 11.23 | 11.53% | | | 44 | 9.77 | 10.10 | 10.42 | 10.74 | 11.06 | 11.38 | 11.69% | | 45 | 9.59 | 9.91 | 10.24 | 10.56 | 10.88 | 11.21 | 11.53 | | 46 | 9.39 | 9.72 | 10.05 | 10.38 | 10.70 | 11.03 | 11.36 | | 47 | 9.20 | 9.52 | 9.86 | 10.18 | 10.52 | 10.85 | 11.18 | | 48 | 8.99 | 9.33 | 9.66 | 9.99 | 10.33 | 10.66 | 11.00 | | 49 | 8.79 | 9.12 | 9.46 | 9.79 | 10.13 | 10.47 | 10.81 | | 50 | 8.58 | 8.91 | 9.25 | 9.59 | 9.93 | 10.28 | 10.62 | | 51 | 8.37 | 8.70 | 9.04 | 9.38 | 9.73 | 10.07 | 10.42 | | 52 | 8.15 | 8.49 | 8.83 | 9.17 | 9.52 | 9.87 | 10.21 | | 53 | 7.94 | 8.27 | 8.61 | 8.95 | 9.30 | 9.65 | 10.00 | | 54 | 8.05 | 8.05 | 8.39 | 8.73 | 9.08 | 9.43 | 9.78 | | 55 | 8.16 | 8.16 | 8.16 | 8.50 | 8.86 | 9.21 | 9.56 | | 56 | 8.28 | 8.28 | 8.28 | 8.28 | 8.62 | 8.98 | 9.33 | | 57 | 8.40 | 8.40 | 8.40 | 8.40 | 8.40 | 8.75 | 9.11 | | 58 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.51 | 8.87 | | 59 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 | 8.63 |

Table No. 59

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES — YEAR POLICE — ¾ BASIS

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | | | | | | | | | | | | | | | | | | | | | | | | 20 | 6.32% | | | | | | | | | | 21 | 6.24 | 6.36% | | | | | | | | | 22 | 6.16 | 6.28 | 6.39% | | | | | | | | 23 | 6.08 | 6.20 | 6.31 | 6.42% | | | | | | | 24 | 6.00 | 6.12 | 6.23 | 6.35 | 6.46% | | | | | | 25 | 5.92 | 6.04 | 6.16 | 6.27 | 6.39 | 6.50% | | | | | 26 | 5.84 | 5.96 | 6.08 | 6.20 | 6.32 | 6.44 | 6.55% | | | | 27 | 5.77 | 5.88 | 6.00 | 6.12 | 6.24 | 6.36 | 6.48 | 6.60% | | | 28 | 5.70 | 5.81 | 5.93 | 6.05 | 6.17 | 6.28 | 6.40 | 6.52 | 6.64% | | 29 | 5.63 | 5.74 | 5.86 | 5.98 | 6.10 | 6.22 | 6.34 | 6.46 | 6.58 | | 30 | 5.56 | 5.68 | 5.79 | 5.90 | 6.02 | 6.14 | 6.26 | 6.38 | 6.50 | | 31 | 5.50 | 5.60 | 5.72 | 5.84 | 5.95 | 6.07 | 6.20 | 6.32 | 6.44 | | 32 | 5.44 | 5.54 | 5.66 | 5.77 | 5.88 | 6.00 | 6.12 | 6.24 | 6.36 | | 33 | 5.38 | 5.48 | 5.58 | 5.70 | 5.82 | 6.93 | 6.05 | 6.18 | 6.30 | | 34 | 5.32 | 5.42 | 5.52 | 5.63 | 5.74 | 5.86 | 5.98 | 6.10 | 6.22 | | 35 | 5.26 | 5.36 | 5.46 | 5.57 | 5.68 | 5.80 | 5.92 | 6.04 | 6.16 | | 36 | 5.32 | 5.30 | 5.40 | 5.51 | 5.62 | 5.73 | 5.84 | 5.96 | 6.08 | | 37 | 5.40 | 5.37 | 5.34 | 5.44 | 5.56 | 5.66 | 5.78 | 5.90 | 6.02 | | 38 | 5.48 | 5.44 | 5.42 | 5.38 | 5.49 | 5.60 | 5.72 | 5.83 | 5.95 | | 39 | 5.56 | 5.52 | 5.49 | 5.46 | 5.43 | 5.54 | 5.66 | 5.76 | 5.88 | | 40 | 5.64 | 5.60 | 5.56 | 5.54 | 5.50 | 5.48 | 5.59 | 5.70 | 5.82 | | 41 | 5.72 | 5.68 | 5.65 | 5.62 | 5.58 | 5.56 | 5.52 | 5.64 | 5.76 | | 42 | 5.80 | 5.77 | 5.74 | 5.70 | 5.66 | 5.64 | 5.60 | 5.58 | 5.69 | | 43 | 5.89 | 5.86 | 5.82 | 5.78 | 5.75 | 5.72 | 5.68 | 5.66 | 5.62 | | 44 | 5.98 | 5.94 | 5.90 | 5.87 | 5.84 | 5.80 | 5.76 | 5.74 | 5.70 | | 45 | 6.08 | 6.02 | 5.99 | 5.96 | 5.92 | 5.88 | 5.85 | 5.82 | 5.78 | | 46 | 6.14 | 6.11 | 6.08 | 6.04 | 6.00 | 5.97 | 5.94 | 5.90 | 5.86 | | 47 | 6.24 | 6.20 | 6.16 | 6.13 | 6.10 | 6.06 | 6.02 | 5.99 | 5.96 | | 48 | 6.32 | 6.28 | 6.25 | 6.22 | 6.18 | 6.15 | 6.11 | 6.08 | 6.04 | | 49 | 6.42 | 6.38 | 6.34 | 6.30 | 6.27 | 6.24 | 6.20 | 6.16 | 6.13 | | 50 | 6.52 | 6.48 | 6.44 | 6.40 | 6.36 | 6.33 | 6.29 | 6.26 | 6.22 | | 51 | 6.61 | 6.57 | 6.53 | 6.49 | 6.45 | 6.42 | 6.38 | 6.34 | 6.31 | | 52 | 6.70 | 6.66 | 6.62 | 6.58 | 6.54 | 6.50 | 6.47 | 6.44 | 6.40 | | 53 | 6.80 | 6.76 | 6.72 | 6.68 | 6.64 | 6.60 | 6.56 | 6.53 | 6.50 | | 54 | 6.90 | 6.86 | 6.82 | 6.78 | 6.74 | 6.70 | 6.66 | 6.62 | 6.58 | | 55 | 7.00 | 6.96 | 6.92 | 6.88 | 6.84 | 6.80 | 6.76 | 6.71 | 6.68 | | 56 | 7.10 | 7.06 | 7.02 | 6.98 | 6.94 | 6.90 | 6.86 | 6.82 | 6.78 | | 57 | 7.20 | 7.16 | 7.12 | 7.08 | 7.04 | 7.00 | 6.96 | 6.92 | 6.88 | | 58 | 7.30 | 7.25 | 7.21 | 7.17 | 7.13 | 7.09 | 7.05 | 7.01 | 6.97 | | 59 | 7.40 | 7.36 | 7.31 | 7.27 | 7.23 | 7.19 | 7.15 | 7.11 | 7.07 |

Table No. 60

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES — 25 YEAR POLICE — ¾ BASIS

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | | | | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | | | 21 | | | | | | | | | | | 22 | | | | | | | | | | | 23 | | | | | | | | | | | 24 | | | | | | | | | | | 25 | | | | | | | | | | | 26 | | | | | | | | | | | 27 | | | | | | | | | | | 28 | | | | | | | | | | | 29 | 6.70% | | | | | | | | | | 30 | 6.63 | 6.75% | | | | | | | | | 31 | 6.56 | 6.68 | 6.80% | | | | | | | | 32 | 6.49 | 6.62 | 6.74 | 6.86% | | | | | | | 33 | 6.42 | 6.54 | 6.67 | 6.80 | 6.92% | | | | | | 34 | 6.35 | 6.48 | 6.60 | 6.73 | 6.86 | 6.98% | | | | | 35 | 6.28 | 6.41 | 6.54 | 6.66 | 6.79 | 6.92 | 7.04% | | | | 36 | 6.21 | 6.34 | 6.46 | 6.60 | 6.72 | 6.85 | 6.98 | 7.10% | | | 37 | 6.14 | 6.26 | 6.40 | 6.52 | 6.66 | 6.78 | 6.92 | 7.04 | 7.17% | | 38 | 6.08 | 6.20 | 6.32 | 6.46 | 6.58 | 6.72 | 6.84 | 6.98 | 7.11 | | 39 | 6.00 | 6.13 | 6.26 | 6.38 | 6.52 | 6.65 | 6.78 | 6.91 | 7.04 | | 40 | 5.94 | 6.06 | 6.19 | 6.32 | 6.44 | 6.58 | 6.71 | 6.84 | 6.98 | | 41 | 5.87 | 5.99 | 6.12 | 6.24 | 6.38 | 6.50 | 6.64 | 6.78 | 6.91 | | 42 | 5.80 | 5.92 | 6.04 | 6.18 | 6.30 | 6.44 | 6.57 | 6.70 | 6.84 | | 43 | 5.74 | 5.86 | 5.98 | 6.10 | 6.24 | 6.36 | 6.50 | 6.63 | 6.77 | | 44 | 5.68 | 5.79 | 5.92 | 6.04 | 6.16 | 6.30 | 6.43 | 6.56 | 6.70 | | 45 | 5.76 | 5.72 | 5.84 | 5.97 | 6.10 | 6.22 | 6.36 | 6.49 | 6.62 | | 46 | 5.84 | 5.80 | 5.78 | 5.90 | 6.02 | 6.15 | 6.28 | 6.42 | 6.56 | | 47 | 5.92 | 5.89 | 5.86 | 5.83 | 5.95 | 6.08 | 6.21 | 6.34 | 6.48 | | 48 | 6.00 | 5.97 | 5.94 | 5.91 | 5.88 | 6.00 | 6.14 | 6.27 | 6.40 | | 49 | 6.10 | 6.06 | 6.02 | 6.00 | 5.96 | 5.94 | 6.06 | 6.20 | 6.33 | | 50 | 6.18 | 6.15 | 6.12 | 6.08 | 6.05 | 6.02 | 5.99 | 6.12 | 6.26 | | 51 | 6.28 | 6.24 | 6.20 | 6.17 | 6.14 | 6.10 | 6.09 | 6.04 | 6.18 | | 52 | 6.36 | 6.33 | 6.30 | 6.26 | 6.22 | 6.19 | 6.16 | 6.13 | 6.10 | | 53 | 6.46 | 6.42 | 6.39 | 6.36 | 6.32 | 6.28 | 6.25 | 6.22 | 6.19 | | 54 | 6.55 | 6.52 | 6.48 | 6.44 | 6.41 | 6.38 | 6.34 | 6.30 | 6.28 | | 55 | 6.64 | 6.60 | 6.57 | 6.54 | 6.50 | 6.46 | 6.43 | 6.40 | 6.36 | | 56 | 6.74 | 6.70 | 6.66 | 6.63 | 6.60 | 6.56 | 6.52 | 6.49 | 6.46 | | 57 | 6.84 | 6.80 | 6.76 | 6.72 | 6.69 | 6.66 | 6.62 | 6.58 | 6.55 | | 58 | 6.93 | 6.89 | 6.85 | 6.82 | 6.78 | 6.74 | 6.71 | 6.68 | 6.64 | | 59 | 7.03 | 6.99 | 6.95 | 6.91 | 6.88 | 6.84 | 6.80 | 6.77 | 6.74 |

Table No. 61

STATE OF NEW YORK EMPLOYEES' RETIREMENT SYSTEM MEMBERS CONTRIBUTION RATES—25 YEAR POLICE—¾ BASIS

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 18 | 19 | 20 | 21 | 22 | 23 | 24 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | | | | | | | | | 35 | | | | | | | | | 36 | | | | | | | | | 37 | | | | | | | | | 38 | 7.24% | | | | | | | | 39 | 7.18 | 7.30% | | | | | | | 40 | 7.11 | 7.24 | 7.38% | | | | | | 41 | 7.04 | 7.18 | 7.32 | 7.44% | | | | | 42 | 6.98 | 7.12 | 7.26 | 7.39 | 7.52% | | | | 43 | 6.91 | 7.05 | 7.18 | 7.32 | 7.46 | 7.60% | | | 44 | 6.84 | 6.98 | 7.12 | 7.26 | 7.40 | 7.54 | 7.68% | | 45 | 6.76 | 6.90 | 7.05 | 7.19 | 7.33 | 7.48 | 7.62 | | 46 | 6.69 | 6.83 | 6.98 | 7.12 | 7.26 | 7.40 | 7.55 | | 47 | 6.62 | 6.76 | 6.90 | 7.04 | 7.19 | 7.34 | 7.48 | | 48 | 6.54 | 6.68 | 6.82 | 6.96 | 7.12 | 7.26 | 7.41 | | 49 | 6.46 | 6.60 | 6.75 | 6.89 | 7.04 | 7.18 | 7.34 | | 50 | 6.39 | 6.52 | 6.67 | 6.82 | 6.96 | 7.11 | 7.26 | | 51 | 6.32 | 6.45 | 6.59 | 6.74 | 6.88 | 7.03 | 7.18 | | 52 | 6.24 | 6.38 | 6.52 | 6.66 | 6.80 | 6.96 | 7.10 | | 53 | 6.16 | 6.30 | 6.44 | 6.58 | 6.72 | 6.87 | 7.02 | | 54 | 6.24 | 6.22 | 6.36 | 6.50 | 6.64 | 6.78 | 6.94 | | 55 | 6.33 | 6.30 | 6.27 | 6.41 | 6.56 | 6.70 | 6.85 | | 56 | 6.42 | 6.39 | 6.36 | 6.33 | 6.47 | 6.62 | 6.76 | | 57 | 6.52 | 6.48 | 6.45 | 6.42 | 6.39 | 6.54 | 6.68 | | 58 | 6.60 | 6.57 | 6.54 | 6.50 | 6.48 | 6.44 | 6.60 | | 59 | 6.70 | 6.66 | 6.63 | 6.60 | 6.56 | 6.54 | 6.50 |

Table No. 62

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE OR FIRE SERVICE | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | | | | | | | | | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20, use 20 year rate | | | | | | | | | | 20 | 12.90% | | | | | | | | | 21 | 12.65 | 12.98% | | | | | | | | 22 | 12.41 | 12.74 | 13.07% | | | | | | | 23 | 12.17 | 12.51 | 12.83 | 13.16% | | | | | | 24 | 11.93 | 12.27 | 12.61 | 12.93 | 13.26% | | | | | 25 | 11.69 | 12.03 | 12.38 | 12.71 | 13.04 | 13.37% | | | | 26 | 11.46 | 11.80 | 12.14 | 12.49 | 12.83 | 13.15 | 13.48% | | | 27 | 11.22 | 11.58 | 11.91 | 12.26 | 12.61 | 12.94 | 13.27 | 13.60% | | 28 | 10.99 | 11.34 | 11.69 | 12.04 | 12.38 | 12.73 | 13.07 | 13.40 | | 29 | 10.76 | 11.11 | 11.46 | 11.81 | 12.16 | 12.51 | 12.86 | 13.20 | | 30 | 10.54 | 10.89 | 11.24 | 11.59 | 11.95 | 12.30 | 12.64 | 12.99 | | 31 | 10.30 | 10.66 | 11.01 | 11.36 | 11.72 | 12.08 | 12.42 | 12.78 | | 32 | 10.08 | 10.42 | 10.79 | 11.14 | 11.50 | 11.86 | 12.22 | 12.58 | | 33 | 9.84 | 10.20 | 10.56 | 10.02 | 11.28 | 11.64 | 12.00 | 12.36 | | 34 | 9.61 | 9.96 | 10.32 | 10.69 | 11.05 | 11.42 | 11.79 | 12.15 | | 35 | 9.38 | 9.74 | 10.10 | 10.46 | 10.82 | 11.20 | 11.56 | 11.92 | | 36 | 9.15 | 9.50 | 9.86 | 10.22 | 10.60 | 10.96 | 11.34 | 11.71 | | 37 | 8.91 | 9.28 | 9.64 | 10.00 | 10.36 | 10.74 | 11.11 | 11.49 | | 38 | 8.69 | 9.04 | 9.40 | 9.76 | 10.14 | 10.51 | 10.89 | 11.26 | | 39 | 8.45 | 8.81 | 9.16 | 9.52 | 9.90 | 10.28 | 10.65 | 11.04 | | 40 | 8.21 | 8.58 | 8.94 | 9.30 | 9.66 | 10.04 | 10.42 | 10.80 | | 41 | 7.98 | 8.34 | 8.70 | 9.06 | 9.42 | 9.80 | 10.18 | 10.56 | | 42 | 7.75 | 8.10 | 8.46 | 8.82 | 9.19 | 9.56 | 9.94 | 10.32 | | 43 | 7.86 | 7.86 | 8.22 | 8.59 | 8.95 | 9.32 | 9.70 | 10.09 | | 44 | 7.98 | 7.98 | 7.98 | 8.34 | 8.71 | 9.08 | 9.46 | 9.84 | | 45 | 8.10 | 8.10 | 8.10 | 8.10 | 8.46 | 8.84 | 9.21 | 9.60 | | 46 | 8.22 | 8.22 | 8.22 | 8.22 | 8.22 | 8.59 | 8.96 | 9.35 | | 47 | 8.34 | 8.34 | 8.34 | 8.34 | 8.34 | 8.34 | 8.71 | 9.10 | | 48 | 8.46 | 8.46 | 8.46 | 8.46 | 8.46 | 8.46 | 8.46 | 8.84 | | 49 | 8.59 | 8.59 | 8.59 | 8.59 | 8.59 | 8.59 | 8.59 | 8.59 | | 50 | 8.71 | 8.71 | 8.71 | 8.71 | 8.71 | 8.71 | 8.71 | 8.71 | | 51 | 8.84 | 8.84 | 8.84 | 8.84 | 8.84 | 8.84 | 8.84 | 8.84 | | 52 | 8.97 | 8.97 | 8.97 | 8.97 | 8.97 | 8.97 | 8.97 | 8.97 | | 53 | 9.10 | 9.10 | 9.10 | 9.10 | 9.10 | 9.10 | 9.10 | 9.10 | | 54 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | | 55 | 9.36 | 9.36 | 9.36 | 9.36 | 9.36 | 9.36 | 9.36 | 9.36 | | 56 | 9.50 | 9.50 | 9.50 | 9.50 | 9.50 | 9.50 | 9.50 | 9.50 | | 57 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | | 58 | 9.77 | 9.77 | 9.77 | 9.77 | 9.77 | 9.77 | 9.77 | 9.77 | | 59 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | | 60 | 10.05 | 10.05 | 10.05 | 10.05 | 10.05 | 10.05 | 10.05 | 10.05 | | 61 | 10.19 | 10.19 | 10.19 | 10.19 | 10.19 | 10.19 | 10.19 | 10.19 |

Table No. 63

STATE OF NEW YORK POLICEMEN's & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE OR FIRE SERVICE | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | | | | | | | | | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20, use 20 year rate | | | | | | | | | | 20 | | | | | | | | | | 21 | | | | | | | | | | 22 | | | | | | | | | | 23 | | | | | | | | | | 24 | | | | | | | | | | 25 | | | | | | | | | | 26 | | | | | | | | | | 27 | | | | | | | | | | 28 | 13.73% | | | | | | | | | 29 | 13.53 | 13.86% | | | | | | | | 30 | 13.33 | 13.67 | 14.00% | | | | | | | 31 | 13.13 | 13.48 | 13.81 | 14.15% | | | | | | 32 | 12.93 | 13.28 | 13.63 | 13.96 | 14.30% | | | | | 33 | 12.72 | 13.08 | 13.43 | 13.78 | 14.12 | 14.45% | | | | 34 | 12.51 | 12.88 | 13.23 | 13.59 | 13.94 | 14.28 | 14.62% | | | 35 | 12.30 | 12.66 | 13.02 | 13.39 | 13.75 | 14.10 | 14.44 | 14.78% | | 36 | 12.08 | 12.45 | 12.82 | 13.19 | 13.55 | 13.91 | 14.26 | 14.61 | | 37 | 11.86 | 12.24 | 12.61 | 12.99 | 13.35 | 13.71 | 14.08 | 14.43 | | 38 | 11.64 | 12.01 | 12.39 | 12.78 | 13.15 | 13.51 | 13.88 | 14.25 | | 39 | 11.41 | 11.80 | 12.18 | 12.55 | 12.94 | 13.31 | 13.69 | 14.06 | | 40 | 11.19 | 11.56 | 11.95 | 12.34 | 12.72 | 13.10 | 13.49 | 13.86 | | 41 | 10.95 | 11.34 | 11.72 | 12.11 | 12.50 | 12.89 | 13.28 | 13.66 | | 42 | 10.71 | 11.10 | 11.50 | 11.89 | 12.29 | 12.68 | 13.06 | 13.46 | | 43 | 10.48 | 10.86 | 11.26 | 11.65 | 12.05 | 12.45 | 12.85 | 13.24 | | 44 | 10.22 | 10.62 | 11.02 | 11.41 | 11.81 | 12.21 | 12.62 | 13.02 | | 45 | 9.99 | 10.38 | 10.78 | 11.18 | 11.58 | 11.99 | 12.39 | 12.80 | | 46 | 9.74 | 10.12 | 10.52 | 10.92 | 11.34 | 11.74 | 12.15 | 12.56 | | 47 | 9.48 | 9.88 | 10.28 | 10.60 | 11.08 | 11.50 | 11.90 | 12.32 | | 48 | 9.22 | 9.61 | 10.02 | 10.42 | 10.82 | 11.24 | 11.66 | 12.08 | | 49 | 8.97 | 9.36 | 9.76 | 10.16 | 10.58 | 10.99 | 11.40 | 11.82 | | 50 | 8.71 | 9.10 | 9.50 | 9.90 | 10.31 | 10.72 | 11.14 | 11.56 | | 51 | 8.84 | 8.84 | 9.24 | 9.64 | 10.05 | 10.46 | 10.88 | 11.30 | | 52 | 8.97 | 8.97 | 8.97 | 9.37 | 9.78 | 10.19 | 10.61 | 11.04 | | 53 | 9.10 | 9.10 | 9.10 | 9.10 | 9.51 | 9.92 | 10.34 | 10.76 | | 54 | 9.23 | 9.23 | 9.23 | 9.23 | 9.23 | 9.64 | 10.06 | 10.49 | | 55 | 9.36 | 9.36 | 9.36 | 9.36 | 9.36 | 9.36 | 9.78 | 10.20 | | 56 | 9.50 | 9.50 | 9.50 | 9.50 | 9.50 | 9.50 | 9.50 | 9.92 | | 57 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | 9.63 | | 58 | 9.77 | 9.77 | 9.77 | 9.77 | 9.77 | 9.77 | 9.77 | 9.77 | | 59 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | | 60 | 10.05 | 10.05 | 10.05 | 10.05 | 10.05 | 10.05 | 10.05 | 10.05 | | 61 | 10.19 | 10.19 | 10.19 | 10.19 | 10.19 | 10.19 | 10.19 | 10.19 |

Table No. 64

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Members Contribution Rate – 20 Year Police or Fire – ½ Basis

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE OR FIRE SERVICE | | | | | --- | --- | --- | --- | --- | | | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | NOTE: When age at entrance is less than 20, use 20 year rate | | | | | | 20 | | | | | | 21 | | | | | | 22 | | | | | | 23 | | | | | | 24 | | | | | | 25 | | | | | | 26 | | | | | | 27 | | | | | | 28 | | | | | | 29 | | | | | | 30 | | | | | | 31 | | | | | | 32 | | | | | | 33 | | | | | | 34 | | | | | | 35 | | | | | | 36 | 14.95% | | | | | 37 | 14.78 | 15.13% | | | | 38 | 14.61 | 14.96 | 15.30% | | | 39 | 14.43 | 14.79 | 15.14 | 15.49% | | 40 | 14.24 | 14.61 | 14.97 | 15.32 | | 41 | 14.04 | 14.42 | 14.79 | 15.16 | | 42 | 13.85 | 14.22 | 14.61 | 14.98 | | 43 | 13.64 | 14.04 | 14.41 | 14.80 | | 44 | 13.42 | 13.82 | 14.22 | 14.61 | | 45 | 13.20 | 13.60 | 14.01 | 14.41 | | 46 | 12.96 | 13.38 | 13.79 | 15.20 | | 47 | 12.72 | 13.15 | 13.56 | 13.98 | | 48 | 12.49 | 12.91 | 13.32 | 13.75 | | 49 | 12.25 | 12.66 | 13.09 | 13.51 | | 50 | 11.99 | 12.41 | 12.85 | 13.28 | | 51 | 11.72 | 12.16 | 12.59 | 13.02 | | 52 | 11.46 | 11.90 | 12.34 | 12.76 | | 53 | 11.19 | 11.62 | 12.06 | 12.50 | | 54 | 10.91 | 11.35 | 11.79 | 12.22 | | 55 | 10.62 | 11.08 | 11.51 | 11.95 | | 56 | 10.35 | 10.78 | 11.22 | 11.66 | | 57 | 10.06 | 10.50 | 10.94 | 11.39 | | 58 | 9.77 | 10.20 | 10.64 | 11.09 | | 59 | 9.91 | 9.91 | 10.34 | 10.79 | | 60 | 10.05 | 10.05 | 10.05 | 10.49 | | 61 | 10.19 | 10.19 | 10.19 | 10.19 |

Table No. 65

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Member's Contribution Rate – 20 Year Police or Fire – 3/4 Basis

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 0 | 1 | 2 | 3 | 4 | 5 | 6 | | | | | | | | | | | | | | | | | | | | 20 | 8.28% | | | | | | | | 21 | 8.18 | 8.32% | | | | | | | 22 | 8.08 | 8.22 | 8.36% | | | | | | 23 | 7.98 | 8.12 | 8.26 | 8.41% | | | | | 24 | 7.88 | 8.02 | 8.18 | 8.32 | 8.46% | | | | 25 | 7.78 | 7.92 | 8.08 | 8.22 | 8.37 | 8.52% | | | 26 | 7.68 | 7.83 | 7.98 | 8.14 | 8.28 | 8.42 | 8.57% | | 27 | 7.58 | 7.74 | 7.88 | 8.04 | 8.20 | 8.34 | 8.48 | | 28 | 7.49 | 7.64 | 7.80 | 7.95 | 8.10 | 8.26 | 8.40 | | 29 | 7.40 | 7.55 | 7.70 | 7.86 | 8.01 | 8.16 | 8.32 | | 30 | 7.32 | 7.46 | 7.62 | 7.76 | 7.92 | 8.08 | 8.23 | | 31 | 7.22 | 7.38 | 7.52 | 7.68 | 7.83 | 7.99 | 8.14 | | 32 | 7.14 | 7.28 | 7.44 | 7.59 | 7.74 | 7.90 | 8.06 | | 33 | 7.05 | 7.20 | 7.35 | 7.50 | 7.66 | 7.82 | 7.97 | | 34 | 6.96 | 7.11 | 7.26 | 7.42 | 7.57 | 7.73 | 7.89 | | 35 | 6.80 | 7.03 | 7.16 | 7.33 | 7.48 | 7.64 | 7.80 | | 36 | 6.80 | 6.94 | 7.09 | 7.24 | 7.40 | 7.55 | 7.72 | | 37 | 6.70 | 6.86 | 7.01 | 7.16 | 7.31 | 7.47 | 7.62 | | 38 | 6.62 | 6.77 | 6.92 | 7.07 | 7.23 | 7.38 | 7.54 | | 39 | 6.54 | 6.68 | 6.83 | 6.98 | 7.14 | 7.30 | 7.46 | | 40 | 6.46 | 6.60 | 6.75 | 6.90 | 7.05 | 7.21 | 7.37 | | 41 | 6.38 | 6.52 | 6.66 | 6.81 | 6.96 | 7.12 | 7.28 | | 42 | 6.30 | 6.44 | 6.58 | 6.72 | 6.88 | 7.03 | 7.19 | | 43 | 6.38 | 6.35 | 6.50 | 6.64 | 6.79 | 6.94 | 7.10 | | 44 | 6.48 | 6.44 | 6.41 | 6.56 | 6.70 | 6.86 | 7.01 | | 45 | 6.58 | 6.54 | 6.50 | 6.47 | 6.62 | 6.77 | 6.92 | | 46 | 6.67 | 6.64 | 6.60 | 6.56 | 6.53 | 6.68 | 6.83 | | 47 | 6.76 | 6.73 | 6.70 | 6.66 | 6.62 | 6.59 | 6.74 | | 38 | 6.86 | 6.82 | 6.79 | 6.76 | 6.72 | 6.68 | 6.65 | | 49 | 6.97 | 6.93 | 6.89 | 6.86 | 6.82 | 6.78 | 6.75 | | 50 | 7.07 | 7.03 | 6.99 | 6.95 | 6.92 | 6.88 | 6.24 | | 51 | 7.13 | 7.14 | 7.10 | 7.06 | 7.02 | 6.98 | 6.94 | | 52 | 7.28 | 7.24 | 7.20 | 7.16 | 7.12 | 7.08 | 7.04 | | 53 | 7.38 | 7.34 | 7.30 | 7.26 | 7.22 | 7.18 | 7.14 | | 54 | 7.49 | 7.34 | 7.41 | 7.37 | 7.33 | 7.29 | 7.25 | | 55 | 7.60 | 7.56 | 7.52 | 7.48 | 7.44 | 7.40 | 7.36 | | 56 | 7.70 | 7.66 | 7.62 | 7.58 | 7.54 | 7.50 | 7.46 | | 57 | 7.81 | 7.77 | 7.73 | 7.69 | 7.65 | 7.61 | 7.57 | | 58 | 7.92 | 7.88 | 7.84 | 7.80 | 7.76 | 7.72 | 7.63 | | 59 | 8.04 | 8.00 | 7.95 | 7.91 | 7.87 | 7.83 | 7.79 | | 60 | 8.11 | 8.11 | 8.06 | 8.02 | 7.98 | 7.94 | 7.90 | | 61 | 8.18 | 8.18 | 8.18 | 8.14 | 8.09 | 8.05 | 8.01 |

Table No. 66

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Member's Contribution Rate – 20 Year Police or Fire – 3/4 Basis

(For persons who became members between 1/1/21 & 6/3/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 7 | 8 | 9 | 10 | 11 | 12 | 13 | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | 8.63% | | | | | | | | 28 | 8.55 | 8.70% | | | | | | | 29 | 8.47 | 8.62 | 8.76% | | | | | | 30 | 8.38 | 8.54 | 8.68 | 8.83% | | | | | 31 | 8.30 | 8.46 | 8.61 | 8.76 | 8.90% | | | | 32 | 8.22 | 8.38 | 8.53 | 8.68 | 8.83 | 8.98% | | | 33 | 8.13 | 8.29 | 8.45 | 8.60 | 8.76 | 8.91 | 9.06% | | 34 | 8.04 | 8.20 | 8.37 | 8.52 | 8.68 | 8.84 | 8.99 | | 35 | 7.96 | 8.12 | 8.28 | 8.44 | 8.60 | 8.76 | 8.92 | | 36 | 7.88 | 8.04 | 8.20 | 8.36 | 8.52 | 8.68 | 8.84 | | 37 | 7.79 | 7.95 | 8.12 | 8.28 | 8.44 | 8.60 | 8.76 | | 38 | 7.70 | 7.86 | 8.02 | 8.19 | 8.36 | 8.52 | 8.68 | | 39 | 7.62 | 7.78 | 7.94 | 8.11 | 8.27 | 8.44 | 8.60 | | 40 | 7.53 | 7.70 | 7.85 | 8.02 | 8.19 | 8.36 | 8.52 | | 41 | 7.44 | 7.60 | 7.77 | 7.93 | 8.10 | 8.27 | 8.44 | | 42 | 7.35 | 7.52 | 7.68 | 7.85 | 8.02 | 8.19 | 8.36 | | 43 | 7.26 | 7.43 | 7.59 | 7.76 | 7.92 | 8.10 | 8.27 | | 44 | 7.17 | 7.33 | 7.50 | 7.67 | 7.84 | 8.00 | 8.18 | | 45 | 7.08 | 7.24 | 7.41 | 7.58 | 7.75 | 7.92 | 8.10 | | 46 | 6.99 | 7.15 | 7.31 | 7.48 | 7.65 | 7.83 | 8.00 | | 47 | 6.90 | 7.06 | 7.22 | 7.39 | 7.56 | 7.73 | 7.91 | | 48 | 6.80 | 6.96 | 7.12 | 7.29 | 7.46 | 7.63 | 7.81 | | 49 | 6.72 | 6.87 | 7.03 | 7.20 | 7.36 | 7.54 | 7.72 | | 50 | 6.81 | 6.78 | 6.94 | 7.10 | 7.26 | 7.44 | 7.61 | | 51 | 6.91 | 6.88 | 6.84 | 7.00 | 7.17 | 7.34 | 7.51 | | 52 | 7.01 | 6.98 | 6.94 | 6.90 | 7.07 | 7.24 | 7.41 | | 53 | 7.11 | 7.08 | 7.04 | 7.00 | 6.97 | 7.14 | 7.31 | | 54 | 7.21 | 7.18 | 7.14 | 7.10 | 7.07 | 7.04 | 7.20 | | 55 | 7.32 | 7.28 | 7.24 | 7.20 | 7.17 | 7.14 | 7.10 | | 56 | 7.42 | 7.38 | 7.34 | 7.31 | 7.28 | 7.24 | 7.20 | | 57 | 7.53 | 7.49 | 7.45 | 7.41 | 7.38 | 7.34 | 7.30 | | 58 | 7.64 | 7.60 | 7.56 | 7.62 | 7.48 | 7.44 | 7.41 | | 59 | 7.75 | 7.71 | 7.67 | 7.63 | 7.59 | 7.55 | 7.52 | | 60 | 7.86 | 7.82 | 7.78 | 7.74 | 7.70 | 7.66 | 7.62 | | 61 | 7.97 | 7.93 | 7.89 | 7.85 | 7.81 | 7.77 | 7.73 |

Table No. 67

STATE OF NEW YORK POLICEMEN'S & FIREMEN'S RETIREMENT SYSTEM

Member's Contribution Rate – 20 Year Police or Fire – 3/4 Basis

(For persons who became members between 1/1/21 & 6/30/43)

| NEAREST ATTAINED AGE | NEAREST NUMBER OF YEARS OF TOTAL POLICE SERVICE OR FIRE SERVICE | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 14 | 15 | 16 | 17 | 18 | 19 | | | | | | | | | | | | | | | | | | | | | 20 | | | | | | | | | 21 | | | | | | | | | 22 | | | | | | | | | 23 | | | | | | | | | 24 | | | | | | | | | 25 | | | | | | | | | 26 | | | | | | | | | 27 | | | | | | | | | 28 | | | | | | | | | 29 | | | | | | | | | 30 | | | | | | | | | 31 | | | | | | | | | 32 | | | | | | | | | 33 | | | | | | | | | 34 | 9.14% | | | | | | | | 35 | 9.07 | 9.22% | | | | | | | 36 | 9.00 | 9.16 | 9.30% | | | | | | 37 | 8.93 | 9.08 | 9.24 | 9.40% | | | | | 38 | 8.85 | 9.02 | 9.18 | 9.33 | 9.48% | | | | 39 | 8.78 | 8.94 | 9.10 | 9.26 | 9.42 | 9.58% | | | 40 | 8.70 | 8.86 | 9.03 | 9.20 | 9.36 | 9.51 | | | 41 | 8.61 | 5.75 | 8.95 | 9.12 | 9.28 | 9.45 | | | 42 | 8.52 | 8.70 | 8.88 | 9.04 | 9.22 | 9.38 | | | 43 | 8.44 | 8.62 | 8.79 | 8.97 | 9.14 | 9.31 | | | 44 | 8.36 | 8.53 | 8.70 | 8.88 | 9.06 | 9.24 | | | 45 | 8.26 | 8.44 | 8.62 | 8.80 | 8.98 | 9.16 | | | 46 | 8.18 | 5.35 | 8.54 | 8.71 | 8.89 | 9.07 | | | 47 | 8.08 | 8.26 | 8.43 | 8.62 | 8.80 | 8.98 | | | 48 | 7.99 | 8.17 | 8.34 | 8.52 | 8.70 | 8.90 | | | 49 | 7.89 | 8.07 | 8.25 | 8.43 | 8.62 | 8.80 | | | 50 | 7.79 | 7.97 | 8.16 | 8.34 | 8.52 | 8.71 | | | 51 | 7.69 | 7.87 | 8.05 | 8.24 | 8.42 | 8.61 | | | 52 | 7.58 | 7.77 | 7.95 | 8.14 | 8.33 | 8.51 | | | 53 | 7.48 | 7.66 | 7.84 | 8.03 | 8.22 | 8.41 | | | 54 | 7.38 | 7.56 | 7.74 | 7.92 | 8.12 | 8.30 | | | 55 | 7.28 | 7.45 | 7.62 | 7.82 | 8.00 | 8.20 | | | 56 | 7.17 | 7.34 | 7.52 | 7.70 | 7.89 | 8.08 | | | 57 | 7.27 | 7.24 | 7.42 | 7.60 | 7.78 | 7.98 | | | 58 | 7.38 | 7.34 | 7.30 | 7.48 | 7.67 | 7.86 | | | 59 | 7.48 | 7.44 | 7.41 | 7.38 | 7.56 | 7.74 | | | 60 | 7.58 | 7.55 | 7.52 | 7.48 | 7.44 | 7.63 | | | 61 | 7.69 | 7.66 | 7.62 | 7.58 | 7.55 | 7.52 | |

2 CRR-NY App. 11 Appendix 11 {#sec-2-crr-ny-app.-11 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 11}

Dear Mr. Levitt:

This is in reply to your letter of August 6, 1969, wherein you state that following the suggestions advanced at the conference held with Commissioner Thrower on June 17, 1969, your staff has prepared an Official Regulation to be promulgated by you which will establish the New York State Public Employees Group Life Insurance Plan pursuant to the legislative mandate of Chapters 336 and 371, Laws of 1969. Prior to the formal implementation of the Plan you request a ruling to the effect that the proceeds of the group life insurance will be exempt, for Federal income tax purposes, pursuant to section 101(a)(1) of the Internal Revenue Code of 1954.

You state that the development of the Official Regulation has been coordinated with the Superintendent of Insurance of the State of New York, to whose supervision the Plan will be subject. Mr. Theodore R. Ayervais, Deputy Superintendent and General Counsel of the Insurance Department, indicates in a letter dated July 30, 1969, that he has reviewed the proposed Regulation, as well as the pertinent provisions of the Retirement and Social Security Law as amended by Chapters 336 and 371, Laws of 1969, and that the provisions of the Law dealing with the guaranteed ordinary death benefits clearly encompass the elements of risk shifting and risk distribution and that the benefits provided under the Plan are in the form of group life insurance.

Section 97.1 of the proposed Regulation provides that since the inception of the New York State Employees' Retirement System and of the New York State Policemen's and Firemen's Retirement System, an ordinary death benefit has been payable upon the death in service of a member thereof pursuant to sections 60, 60-a, 360, and 360-a of the Retirement and Social Security Law, Section 97.2 provides for the establishment of the New York State Public Employees Group Life Insurance Plan in order to provide the death benefits to its members.

Honorable Arthur Levitt

Each qualified member is to be insured from January 1, 1970 through March 31, 1971, and during such effective period the insurance coverage will constitute a contractual relationship, the benefits of which will not be diminished or impaired. The State Comptroller may, from time to time, extend the effective period of insurance. In no case will the amount payable under the Plan upon the death of a member exceed $50,000.

Pursuant to section 97.3 separate reserve funds will be established, The separate funds, known as the New York State Public Employees Group Life Insurance Plan Reserve Funds are to be established within the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System, respectively, to be held in trust by the State Comptroller. The funds will consist of all premiums paid by the State and by participating employers and other monies received and paid into the funds for group term life insurance purposes, and of the investment earnings upon such monies, and will be used only to pay the group term life insurance.

Based on an actuarial determination of the initial liability of the Plan, there will be segregated and transferred from the pension accumulation funds of the New York State Employees' Retirement System and of the New York State Policemen's and Firemen's System to the reserves held in trust by the State Comptroller, such amounts necessary to pay anticipated group term life insurance claims. Pursuant to section 97.5 the Actuary will investigate the Plan's claim experience as provided by section 11 of the Retirement and Social Security Law and on the basis of such investigation end recommendation of the Actuary, the Comptroller will certify the premium rates computed to be necessary to fund the group term life insurance authorized to be paid by the Plan. After the close of each fiscal year, the Comptroller will determine the premium which the State and the participating employers are required to pay into the reserve funds to discharge the obligations of the Plan for the past fiscal year.

Section 101(a)(1) of the Internal Revenue Code of 1954 contains the general rule that the proceeds of life insurance contracts, if paid by reason of the death of the insured, are excludable from the gross income of the recipient.

We have considered the provisions of the proposed Regulations which will establish the New York State Public Employees Group Life Insurance Plan. If the Plan is implemented in the manner proposed, it is our opinion that the proceeds of the group term life insurance paid by reason of the death of a qualified member of the Plan will be excludable from the gross income of the recipient pursuant to the provisions of section 101(a)(1) of the Code.

2 CRR-NY App. 11-A Appendix 11-A {#sec-2-crr-ny-app.-11-a omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 11-A}

Gentlemen:

You have requested rulings concerning the Federal tax consequences of pre-retirement death benefits payable to the beneficiaries of deceased members under the laws pertaining to the New York State Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System (sometimes hereinafter referred to as the System).

Information available to this office discloses that the New York State. Employees' Retirement System and the New York State Policemen's and Firemen's Retirement System are held to be qualified under section 401(a) of the Internal Revenue Code.

The death benefits in question are authorized by the provisions of section 60, 60a 360 and 360a of the Retirement and Social Security Law and are wholly payable from employer contributions. The death benefits payable pursuant to these sections of the Law are based on such variables as the date of original service, length of service, salary and age, and may be summarized as the larger of

(a) three times salary to a maximum of $20,000, or

(b) a percentum of final salary for each year of service, not to exceed 36, to a maximum of 3 years' salary, or

(c) if the deceased was eligible to retire, the initial value of the pension reserve (modified or actual) that would have been payable had the member retired on the date of his death.

Member's contributions, if any, with interest are refunded to a beneficiary as an incident to the death of a member but not as a death benefit.

-2-

State of New York Department of Audit and Control

The New York State Public Employees Group Life Insurance Plan was established on January 1, 1970, and provides group term life insurance to a maximum of $50,000 of the ordinary death benefit. Such insurance coverage is wholly paid for by the employer.

Your request is based on the following assumed facts illustrated by examples (A), (B) and (C) which utilize age 55 as a time for eligibility for retirement and the above death benefit formulae (b) and (c). In samples (B) and (C), the first $50,000 of the death benefit is group term life insurance.

Membership Status as of December 31, 1969

| | | | --- | --- | | Date of birth | 1/1/15 | | Date of membership | 12/31/33 | | Member's service | 36 yrs. | | Salary | $20,000.00 |

Based on the above data upon death, the beneficiary would be entitled to:

(A) Death as of December 31, 1969

| | | | | --- | --- | --- | | Decedent's contributions | $ 8,000.00 | | | Interest | 9,510.00 | $17,510.00 | | Death benefit | | 60,000.00 | | | | $77,510.00 |

Computation of Death Benefit

Three years' salary - decedent had not attained age 55.

(B) Death as of January 1, 1970

| | | | | --- | --- | --- | | Decedent's contributions | $8,000.00 | | | Interest | 9,512.00 | $17,512.00 | | Death benefit | | 90,852.00 | | | | $108,364.00 |

-3-

State of New York

Department of Audit and Control

| | | | --- | --- | | Computation of Death Benefit | | | Pension reserve – member attained retirement age. | | | Service prior to 4/1/60 | | | $20,000.00 × 26 yrs. 3 mos./120 = | $ 4,375.00 | | Service after 4/1/60 | | | $20,000.00 × 9 yrs. 9 mos./60 = | 3,250.00 | | Annual pension | $ 7,625.00 | | × annuity value age 55 | 11.915 | | Pension reserve | $ 90,852.00 |

(C) Death as of December 31, 1970

| | | | | --- | --- | --- | | Decedent's contributions | $ 8,000.00 | | | Interest | 10,210.00 | $ 18,210.00 | | Death benefit | | 92,432.00 | | | | $110,642.00 | | Computation of Death Benefit | | | | Pension reserve – member attained retirement age. | | | | Service before 4/1/60 | | | | $20,000.00 × 26 yrs. 3 mos./120 = | | $ 4,375.00 | | Service after 4/1/60 | | | | $20,000.00 × 10 yrs. 9 mos./60 = | | 3,583.00 | | Annual pension | | $ 7,958.00 | | × annuity value age 56 | | 11.615 | | Pension reserve | | $ 92,432.00 |

Based on the foregoing, you request a ruling as to the income tax liability under the data given in examples B and C. (You mention that example A was presented merely to show the increase in benefits effected by points in time after December 31, 1969.)

-4-

State of New York

Department of Audit and Control

You also request confirmation that the term "plan years" as used in IRC 402(a)(5) means a fiscal year (i.e., our fiscal year April 1 to March 31) and that any limitation on capital gains would be for benefits accrued after March 31, 1970; also that Bryant v. U.S. (DC Md, CCH 1969 USTC S. 12, 636) excludes from estate tax any interest on member contributions.

In addition, by letter dated July 6, 1970, you request rulings with respect to the New York State Public Employees Group Life Insurance Plan as follows:

1. The group life insurance benefit, not to exceed $50,000, is exempt from Federal income tax pursuant to section 101(a)(1) of the Code;

2. The group life insurance benefit is subject to Federal estate tax pursuant to section 2042 of the Code;

3. Because the maximum insurance coverage is limited to $50,000, and because the contract is not purchased through either of the qualified pension plans administered by the State Comptroller, the cost of the insurance coverage is not taxable to the employee as imputed income under either section 72 or 79 of the Code.

With regard to the rulings requested in connection with the death benefits described in examples B and C of your first ruling request, we are assuming for the purpose of this ruling that any such death benefits will be distributed of those entitled thereto as a total distribution payable within the intendment of section 402(a)(2) of the Code.

Section 402(a)(2) of the Code provides, in the case of an employees' trust described in section 401(a) which is exempt from tax under section 501(a), that if the total distributions payable with respect to any employee are paid to the distributee within one taxable year of the distributee on account of the employees death or other separation from the service, the amount of such distribution, to the extent exceeding the amounts, if any, contributed by the employee (determined by applying section 72(f)), shall be treated as a gain from the sale or exchange of a capital asset held for more than six months. However, section 402(a)(5), which was added to the Code by section 515 of the Tax Reform Act of 1969, P.L. 91-172, 91st Cong., 1st Sess., provides that such treatment

-5-

State of New York

Department of Audit and Control

shall apply to a distribution paid after December 31, 1969, only to the extent that it does not exceed the sum of (A) the benefits accrued by the employee on behalf of whom it is paid during plan years beginning before January 1, 1970, and (B) the portion of benefits accrued by such employee during plan years beginning after December 31, 1969, which the distributee establishes does not consist of the employee's allowable share of employer contributions to the trust by which such distribution is made. Any such excess is taxable as provided in Code section 72(n) as amended by section 515 of the Tax Reform Act of 1969, Public Law 91-172, 91st Cong., 1st Sess.

With respect to benefits paid on account of the death of a member, section 101(b) provides in part that except for "total distributions payable," which are paid within one taxable year of the distributee under a qualified plan, the $5,000 death benefit exclusion does not apply to amounts with respect to which the deceased employee possessed immediately before his death, a nonforfeitable right to receive the amounts while living; nor does the exclusion apply to amounts received as an annuity under a joint and survivor annuity obligation where the employee was the primary annuitant and the annuity starting date occurred before the death of the employee.

While the death benefit exclusion under section 101(b) ordinarily does not apply to amounts to which the deceased employee had a nonforfeitable right to receive while living, it will nevertheless, apply to "total distributions payable" under qualified plans even though the deceased employee had a nonforfeitable right to receive the amounts while living. Furthermore, any amount found to be excludable as a death benefit shall, for purposes of section 72, be treated as additional consideration paid by the employee.

Section 79(a) of the Internal Revenue Code of 1954 provides the general rule that there shall be included in the gross income of an employee for the taxable year an amount equal to the cost of group-term life insurance on his life provided for part or all of such year under a policy (or policies) carried directly or indirectly by his employer (or employers); but only to the extent that such cost exceeds the sum of the cost of $50,000 of such insurance, and the amount (if any) paid by the employee toward the purchase of such insurance.

-6-

State of New York

Department of Audit and Control

Section 1.79-1(b)(1)(i) of the Income Tax Regulations provides, in general, that group-term life insurance is term life insurance protection provided under a master policy, or group of individual policies, which policy or policies, constitute life insurance contracts for purposes of section 101(a) of the Code and form a part of a plan of group insurance as defined in section 1.79-1(b)(1)(iii) of the regulations. However, section 79 does not apply to any amount of life insurance protection provided for an employee by an employer which is in excess of the maximum amount of such protection which could, under the law of the applicable jurisdiction, be provided by such employer for such employee under a master policy providing only group-term life insurance protection.

Section 1.79-1(b)(1)(iii)(b) of the regulations provides, in part, that to constitute a plan of group insurance, the plan must make term life insurance available to a group of lives. Such group must include all of the employees of the employer, or, subject to certain exceptions not pertinent here, a class or classes of such employees the members of which are determined on the basis of factors which preclude individual selection. Examples of such factors are membership in a union whose members are employed by the employer, marital status, and age.

In addition, section 1.79-1(b)(1)(iii)(c) of the regulations provides, in part, that to constitute a plan of group insurance, the amounts of insurance protection provided under the plan must be based upon some formula which precludes individual selection of such amounts. Thus, for example, the amounts of insurance on the lives of those individuals eligible for insurance under the plan must be based on a factor such as salary, years of service or position, or a combination of such factors.

Therefore, with regard to ruling requests number 1 and 3 of your letter dated July 6, 1970, we have concluded, based upon the information presented and provided the $50,000 of group-term life insurance coverage is not in excess of the maximum coverage permitted by section 1.79-1(b)(1)(i) of the regulations, that the cost of the life insurance provided an employee under the New York State Public Employee Group Life Insurance Plan will be excludable from the employee's gross income for Federal income tax purposes under section 79 of the Code. Moreover, the proceeds of such insurance paid by reason of the death of such employee will be excludable from the gross income of the recipient pursuant to the provisions of section 101(a)(1) of the Code. It is further concluded that the insurance coverage is not taxable to the employee as imputed income under section 72 of the Code.

-7-

State of New York

Department of Audit and Control

Furthermore, with respect to examples B and C in your letter of March 9, 1970, we have concluded that, if the amounts distributed in such cases in excess of the amount excludable under Code section 101(a)(1) as proceeds of life insurance under the Group Life Insurance Plan, are distributed to the distributee in a lump-sum, within one taxable year of the distributee, on account of the employee's death, then the amount of such distribution to the extent exceeding (1) the amounts contributed by the employee into the System, including the amount, if any, considered to be contributed by the employee under Code section 72(f)(2), plus (2) the amount excludable as a death benefit under Code section 101(b), shall be treated as a long-term capital gain under Code section 402(a)(2), but only to the extent permitted by Code section 402(a)(5), if applicable.

Since the regulations under section 402(a)(5), which was added to the Code by the Tax Reform Act of 1969 have not yet been promulgated, we are unable to answer your question concerning the proration under such section of the death benefit exclusion of section 101(b). However, if the regulations, when issued, do not provide a satisfactory answer to the problem, we will be glad at that time to give the matter further consideration if you so desire.

The term "plan years" as used in Code section 402(a)(5) is interpreted to mean a taxable year of the trust which is a part of the plan. Accordingly, we conclude in this case that "plan years" would include a fiscal year where the plan and trust so provide.

In connection with your questions concerning the Federal estate tax consequences of the payment that consists of the decedent's contributions, interest accrued on these contributions, and a death benefit made to a person nominated by the decedent or his estate, it should be pointed out that the Internal Revenue Service does not issue rulings involving the prospective application of the Federal estate tax. See section 3.02 of Revenue Procedure 69-1, C.B. 1969-1, 381. Therefore, only general information can be furnished.

Section 2042 of the Code provides for the inclusion in a decedent's gross estate of the proceeds of insurance on the decedent's life (a) receivable by or for the benefit of the estate and (b) receivable by other beneficiaries. It requires inclusion of the proceeds of insurance on the decedent's life not receivable by or for the benefit of the estate if the decedent possessed at the date of his death any of the incidents of ownership in the policy, exercisable either alone or in

-8-

State of New York

Department of Audit and Control

conjunction with any other person. Section 20.2042-1(c)(2) of the state Tax Regulations provides that generally speaking the term "incidents of ownership" has reference to the right of the insured or his estate to the economic benefits of the policy and includes among other things the power to change the beneficiary, to surrender or cancel the policy, to assign the policy, to revoke an assignment, to pledge the policy for a loan, or to obtain from the insurer a loan against the surrender value of the policy.

Section 2039(a) of the Internal Revenue Code of 1954 provides that the entire value of an annuity or other benefit payable to beneficiaries of the decedent or his estate is includible in his gross estate. However, in the case of benefits distributed under a trust qualified under section 401(a), section 2039(c) provides, in effect, that the value of any benefits payable to any beneficiary, other than his estate, is includible in the proportion thereof that the total payments or contributions made by the decedent bears to the total contributions made, and for this purpose, contributions or payments bade by the decedent's employer shall not be considered to have been contributed by the decedent.

The Service has always considered the accumulated interest on a decedent's contributions to a qualified retirement plan as includible in the gross estate. This has been expressed in Rev. Rul. 56-1, C.B. 1956-1, 444, Commissioner v. Estate of Raymond W. Albright, 356 F. 2d 319 (2nd Cir. 1966), and Rev. Rul. 68-556, C.B. 1968-2, 408.

Although we are unable to furnish you with a specific ruling for Federal estate tax purposes we are considering publishing a Revenue Ruling on the subject.

2 CRR-NY App. 14 Appendix 14 {#sec-2-crr-ny-app.-14 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 14}

2 CRR-NY App. 14-A Appendix 14-A {#sec-2-crr-ny-app.-14-a omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 14-A}

2 CRR-NY App. 14-B Appendix 14-B {#sec-2-crr-ny-app.-14-b omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 14-B}

2 CRR-NY App. 15 Appendix 15 {#sec-2-crr-ny-app.-15 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 15}

2 CRR-NY App. 15-A Appendix 15-A {#sec-2-crr-ny-app.-15-a omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 15-A}

2 CRR-NY App. 15-B Appendix 15-B {#sec-2-crr-ny-app.-15-b omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 15-B}

2 CRR-NY App. 15-C Appendix 15-C {#sec-2-crr-ny-app.-15-c omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 15-C}

2 CRR-NY App. 16 Appendix 16 {#sec-2-crr-ny-app.-16 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 16}

2 CRR-NY App. 16-A Appendix 16-A {#sec-2-crr-ny-app.-16-a omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 16-A}

2 CRR-NY App. 17 Appendix 17 {#sec-2-crr-ny-app.-17 omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 17}

---

Form was amended to change Comptroller's address to Office of Unclaimed Funds, Remittance Control, 110 State St., Albany, NY 12236-0001. Form was unavailable at time of publication.

2 CRR-NY App. 17-A Appendix 17-A {#sec-2-crr-ny-app.-17-a omnilex-key=us-ny-regs-official--title-2--2 CRR-NY App. 17-A}