Retirement and Social Security Law § 318 · Title 3. Establishment, Management, Supervision and Financing
Guaranty
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 318. Guaranty. a. The latest employers of the different members shall be obligated for:
1. Regular interest charges payable, and special interest, if any, and
2. The creation and maintenance of reserves in the pension accumulation fund, and
3. The maintenance of annuity reserves and pensions reserves, and
4. The payment of all pensions, annuities, retirement allowances, refunds and any other benefits, and
5. The expenses of the police and fire retirement system, as provided for or granted under the provisions of this article. In the case of employer contributions required to be made for prior service allowed pursuant to paragraph three of subdivision b of section three hundred forty-one of this article, the provisions of such paragraph three shall govern.
b. Except as otherwise provided pursuant to this article, all income, interest and dividends derived from deposits and investments authorized by this article shall be used for the payment of such obligations.
Source of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/RSS318
- Text hash
- sha256 116a88aeeec6fa56fad418ae98aa677c04fa2646852abb091d796d77941620a7
- Composed by
- gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.