N.Y. Comp. Codes R. & Regs. tit. 2 § 155.15

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

Section 155.15 - Administration

(a) State-administered defined benefit volunteer firefighter 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 State-administered defined benefit volunteer firefighter service award 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 State-administered defined benefit volunteer firefighter service award program of the change.

(c) The administrator shall:

(1) prepare standard forms of a program agreement and adoption or transfer 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, volunteer fire companies or volunteer fire departments and sponsors, the reports and program summaries as required by this Part;

(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 State-administered defined benefit volunteer firefighter service award 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-A of the General Municipal Law and this Part.

(d) If the Comptroller is not the administrator, the fee for providing such services and any other services provided by the administrator shall be a charge against the sponsor and not exceed the amount or amounts which the administrator is permitted to charge pursuant to an agreement between the administrator and the Comptroller.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 155.15