§ 398. Definitions. Whenever used in this article: 1. The term “employer” means the state university of New York, the board of higher education of the city of New York, or a community college established and operated under article one hundred twenty-six of this chapter. 2. The term “employee” means a person employed by the […]
§ 398-a. Reduction of salaries for investment in custodial accounts. Each employer, in his discretion, may enter into a written agreement with any employee to reduce the annual salary as otherwise payable by law of such employee for the purpose of investing in a custodial account as permitted under section 403(b) of the United States […]
§ 399. Special annuity and custodial account programs authorized. 1. An employer is hereby authorized to establish by resolution special annuity and custodial account programs which shall provide for the purchase of contracts or establishment of custodial accounts providing retirement and death benefits for or on behalf of employees electing to enter into an agreement […]
§ 399-A. Reduction of salaries for tax-deferred annuities. The board of higher education of a city having a population of one million or more, in its discretion, may enter into a written agreement with any of its employees to reduce the annual salary, as otherwise earned and payable by law, of such employee for the […]
