New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter F - Public Retirement Systems
Part 136 - Public Retirement Systems
Subpart 136-1 - Standards For Certain Actuarially Funded Public Retirement System
Section 136-1.1 - Preamble
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Subsection (b) of section 314 of the Insurance Law authorizes the Superintendent of Financial Services to promulgate certain standards with respect to the public retirement and pension systems of the State of New York or of a municipality thereof. Specifically, subsection (b) provides as follows:
* * *
(2) to promulgate and amend from time to time, after consultation with the administrative heads of systems and after a public hearing, standards with respect to actuarial assumptions, accounting practices, administrative efficiency, discharge of fiduciary responsibilities, investment policies and financial soundness."
(b) This Subpart is designed to implement, with respect to certain of the public retirement and pension systems, the legislative intent contained in the foregoing.
