N.Y. General Business Law 1308 – Benefits
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§ 1308. Benefits. Interest, investment earnings, and investment losses shall be allocated to individual program accounts as authorized by the board pursuant to this article. An individual's retirement savings benefit under the program shall be an amount equal to the balance in the individual's program account on the date the retirement savings benefit becomes payable. The state shall have no liability for the payment of any benefit to any enrollee in the program.
Terms Used In N.Y. General Business Law 1308
- Board: shall mean the New York secure choice savings program board established under this article. See N.Y. General Business Law 1300
- Enrollee: shall mean any employee or individual who is enrolled in the program. See N.Y. General Business Law 1300
- Program: shall mean the New York state secure choice savings program. See N.Y. General Business Law 1300