§ 298. Temporary advances. At any time after this article shall become law and prior to the date upon which assets and other funds are transferred from the employees' retirement system to the retirement system established by this article, the comptroller is empowered, upon his warrant, to direct the head of the division of the treasury, to transfer from funds kept on deposit to the credit of the New York state employees' retirement system an amount, not exceeding five million dollars, to the credit of the retirement system established by this article. Such monies shall be deposited as provided in subdivision e of section three hundred thirteen of this article, and shall be used for the purpose of meeting disbursements for pensions, annuities and other payments ordered by the comptroller, and for expenses of maintenance and operation, including personal service. The amount so advanced shall be deducted from the total amount to be transferred by the employees' retirement system to the retirement system established by this article, upon the final settlement of all accounts by such system as provided in this article.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.