Laws of New York (Last Updated: November 21, 2014)

Section 424. Distribution of earnings

Latest version.

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 of the fiscal
  year. The amount of such earnings attributable to each retirement system
  shall  be  computed by the actuary and certified to the comptroller, who
  shall thereupon credit each retirement system in accordance therewith.

                    
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