Section 167. Supplemental pension fund  


Latest version.
  • 1. There is hereby established a
      special fund to be known as the supplemental  pension  fund.  Such  fund
      shall  consist  of  such  moneys  as  may be appropriated thereto by the
      legislature, and all other moneys received for such fund from any  other
      source pursuant to law.
        2.   Subject   to  the  provisions  of  the  state  finance  law,  the
      supplemental pension fund shall be under the jurisdiction and control of
      the comptroller, who shall be the custodian thereof.  The fund shall  be
      held  separate and apart from any other funds or moneys of the state and
      shall be used exclusively for the purpose of making supplemental pension
      payments to state retired employees  and  state  retired  teachers.  The
      comptroller  shall  have power to invest and keep invested moneys in the
      fund in accordance with the provisions of section  ninety-eight  of  the
      state finance law. Moneys of the fund shall be paid out only after audit
      by and on warrant of the comptroller.