Retirement and Social Security Law § 322 · Title 4. Funds of the System; Members' Contributions and Employers' Contributions
Members' contributions and their use; annuity reserve fund
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 322. Members' contributions and their use; annuity reserve fund. a. The annuity reserve fund shall be the fund from which shall be paid all annuities and all benefits in lieu of annuities, payable pursuant to this article.
b. Upon retirement, a member's accumulated contributions shall be transferred from the annuity savings fund to the annuity reserve fund. They shall then be used to provide an annuity, the amount of which shall be the actuarial equivalent of such accumulated contributions on the basis of regular interest and the tables adopted by the comptroller pursuant to this article.
c. The comptroller from time to time shall transfer from the pension accumulation fund to the annuity reserve fund, such amounts as are necessary under this article.
d. If a member, retired for any reason, returns to active police or fire service and again becomes a member of the police and fire retirement system, his or her annuity reserve shall be transferred from the annuity reserve fund to the annuity savings fund.
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/RSS322
- Text hash
- sha256 77e8527ab116f78e717b862b7db7982e4a0f1b0f6a51d03e99072438dde01f3b
- 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
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