N.Y. Comp. Codes R. & Regs. tit. 2 § 152.16

Current through Register Vol. 46, No. 50, December 11, 2024

Section 152.16 - Administration

(a) Service award programs shall be administered by the State Comptroller unless the Comptroller retains or designates an administrative service agency, financial organization, and/or an actuary to administer the programs.

(b) In the event that there is a change in the identity of the administrator, the Office of the State Comptroller shall notify the chief executive officer of each sponsor of a service award program of the change.

(c) The administrator shall:

(1) prepare standard forms of a program agreement and adoption agreement which shall be utilized by all program sponsors;

(2) prepare and distribute all forms and documents necessary for the administration of the program;

(3) compile and maintain all records required for the administration of the program, including records of participant accrued benefit amounts;

(4) prepare and distribute to participants, ambulance companies and sponsors, the reports and program summaries as required by these rules and regulations;

(5) if the Comptroller is not the administrator, prepare and furnish to the Comptroller such reports as the Comptroller may require;

(6) record and process contributions made by program sponsors;

(7) cooperate with the program actuary, and, program trustee to ensure the effective and efficient operation of the programs, including the provision in a timely manner of such information as the program actuary and program trustee may require to exercise and perform their powers and duties;

(8) approve applications for distributions of service awards;

(9) record and process distributions of service awards;

(10) withhold all taxes and prepare all tax reporting forms required by Federal, State and local law; and

(11) perform such other functions as may be required by or pursuant to article 11-AAA of the General Municipal Law and this Part.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 152.16