Terms Used In New York Laws > Retirement and Social Security > Article 18 - Provisions Generally Applicable to Public Retirement Systems

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• city of New York: shall include : (a) every employer other than a state employer which participates in the New York city employees' retirement system, New York city teachers' retirement system, New York city police pension fund, New York city fire department pension fund or the New York city board of education retirement system, and (b) a city of New York funded college of the state university of New York located within such city, the city of New York libraries subject to section thirty-two of this chapter, and the civilian and uniformed employees described in subdivision sixteen of § 1204 of the public authorities law; and (ii) a "state employer" shall mean the unified court system, the senior colleges of the city university of New York and a public benefit corporation, public corporation or subsidiary corporation a majority of the members of which are appointed by the governor, designated by virtue of their state office or appointed or designated by any combination of the foregoing. See N.Y. Retirement and Social Security Law 800
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Public retirement system: shall mean the New York state and local employees' retirement system, the New York state and local police and fire retirement system, New York state teachers' retirement system, New York city employees' retirement system, New York city teachers' retirement system, New York city police pension fund, New York city fire department pension fund and the New York city board of education retirement system. See N.Y. Retirement and Social Security Law 800
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• state employer: shall mean the unified court system, the senior colleges of the city university of New York and a public benefit corporation, public corporation or subsidiary corporation a majority of the members of which are appointed by the governor, designated by virtue of their state office or appointed or designated by any combination of the foregoing. See N.Y. Retirement and Social Security Law 800