420 – Short Title.

§ 420. Short title. This act may be cited as the “common retirement fund” act.

421 – Definitions.

§ 421. Definitions. As used or referred to in this article, unless a different meaning clearly appears from the context. 1. The term “employees’ retirement system” shall mean the New York state employees retirement system. 2. The term ” police and fire retirement system” shall mean the New York state and local police and fire […]

422 – Establishment of a Common Retirement Fund.

§ 422. Establishment of a common retirement fund. 1. There is hereby established a fund, in the custody of the comptroller, to be known as the common retirement fund. Notwithstanding any other provision of this chapter, all of the assets and income of the employees’ retirement system and of the police and fire retirement system […]

423 – Investments.

§ 423. Investments. a. On and after April first, nineteen hundred sixty-seven, the comptroller shall invest the available monies of the common retirement fund in any investments and securities authorized by law for each retirement system and shall hold such investments in his name as trustee of such fund, notwithstanding any other provision of this […]

423-A – Northern Ireland Related Investments.

§ 423-a. Northern Ireland related investments. 1. Notwithstanding any other provision of law, on and after January first, nineteen hundred eighty-seven, any moneys or assets of the common retirement fund which shall remain or be invested in the stocks, securities or other obligations of any institution or company doing business in or with Northern Ireland […]

423-B – New York State Venture Capital Program.

§ 423-b. New York state venture capital program. The comptroller is hereby authorized to establish within the common retirement fund a New York state venture capital program for the purpose of investing in qualified businesses as defined in paragraph six of subdivision (a) of section eleven of the tax law. The comptroller is authorized to […]

423-C – Mwbe Asset Management and Financial Institution Strategy.

§ 423-c. MWBE asset management and financial institution strategy. 1. Within the discretion of the state comptroller and in accordance with and subject to his or her fiduciary duties and obligations as trustee of the common retirement fund and to the members, retirees and beneficiaries of such fund and such other investment limitations as may […]

424 – Distribution of Earnings.

§ 424. Distribution of earnings. At the close of each fiscal year, the average rate of investment earnings of the common retirement fund shall be computed by the actuary and certified to the comptroller. This rate shall be determined from the investment earnings during the calendar year, which ended three months prior to the close […]

424-A – Use of Placement Agents or Intermediaries Prohibited.

§ 424-a. Use of placement agents or intermediaries prohibited. 1. The fund shall not engage, hire, invest with or commit to an investment manager that is using the services of a placement agent or intermediary to assist such investment manager in obtaining investments by the fund nor shall the fund engage, hire, invest with or […]

425 – Separability of Retirement Systems.

§ 425. Separability of retirement systems. No provision of this article shall be construed as an impairment of the separability of or of the corporate powers and privileges of the employees’ retirement system or the police and fire retirement system. The comptroller shall establish or continue separate funds and accounts for each retirement system, consistent […]