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Statutes » New York » RSS Law » Article 8

N.Y. RSS Law § 298

This is the official text of N.Y. RSS Law § 298, part of New York’s RSS Law — part of the compiled statutory law of New York, published by the state as "RSS Law." Browse the sections below, each linked to its official government source.

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Temporary advances

Official statutory text

§ 298. Temporary advances. At any time after this article shall\nbecome law and prior to the date upon which assets and other funds are\ntransferred from the employees' retirement system to the retirement\nsystem established by this article, the comptroller is empowered, upon\nhis warrant, to direct the head of the division of the treasury, to\ntransfer from funds kept on deposit to the credit of the New York state\nemployees' retirement system an amount, not exceeding five million\ndollars, to the credit of the retirement system established by this\narticle. Such monies shall be deposited as provided in subdivision e of\nsection three hundred thirteen of this article, and shall be used for\nthe purpose of meeting disbursements for pensions, annuities and other\npayments ordered by the comptroller, and for expenses of maintenance and\noperation, including personal service. The amount so advanced shall be\ndeducted from the total amount to be transferred by the employees'\nretirement system to the retirement system established by this article,\nupon the final settlement of all accounts by such system as provided in\nthis article.\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.