New York Codes Rules Regulations (Last Updated: March 27,2024) |
TITLE 2. Department of Audit and Control |
Chapter VI. New York State and Local Employees' Retirement System and New York State and Local Police and Fire Retirement System |
Part 303. Extension of Time for Payment of Deficiency Contributions |
Sec. 303.1. Additional liability under 55 year retirement plan
Latest version.
- 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.