N.Y. Retirement and Social Security Law 198 – Reimbursement for payments to state retired teachers
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§ 198. Reimbursement for payments to state retired teachers. As soon as practicable after the close of each fiscal year of the state, the comptroller shall certify to the commissioner of education a statement of the total amount paid out by him during such fiscal year to state retired teachers pursuant to this article. Such amount shall be apportioned on the same basis and collected in the same manner as is provided for the collection of employers' contributions to the New York state teachers retirement system by subdivision two of § 521 of the education law. Amounts so collected shall be deposited in and credited to the supplemental pension fund.
Terms Used In N.Y. Retirement and Social Security Law 198
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.