2023 New York Laws › RSS - Retirement and Social Security › Article 8 - New York State and Local Police and Fire Retirement System › Title 3 - Establishment, Management, Supervision and Financing › 316 - Annual Appropriation by State.

§ 316. Annual appropriation by state. a. Upon the basis of each annual
  actuarial  valuation  and  appraisal  provided  for in this article, the
  comptroller, on or before the fifteenth day of  October  of  each  year,
  shall  prepare  and  file  with  the  director of the budget an itemized
  estimate of the amounts necessary to be appropriated by the state to the
  pension accumulation fund and the New York state public employees  group
  life  insurance  plan,  as  appropriate.  Such  itemized estimate may be
  revised on or before December thirtieth of each such year. Such  amounts
  shall  be  sufficient  to  provide  for  payment  in  full  for  (i) the
  succeeding fiscal year of all estimated obligations of the state to  the
  police  and  fire  retirement system; and (ii) any actual obligations of
  the state to such retirement system, remaining unpaid, plus interest  on
  such  amount,  for  the  fiscal  year  ending  on the March thirty-first
  preceding such date; provided, however, that  such  estimate  of  actual
  obligations  shall  be  made  commencing with the filings due on October
  fifteenth, nineteen hundred eighty-seven and thereafter. If, as a result
  of the estimate required to be  made  pursuant  to  clause  (i)  of  the
  preceding  sentence,  the  state  overpaid  its actual obligation to the
  retirement system in any  year,  the  amount  estimated  in  the  filing
  required  by  this  subdivision  next  succeeding such overpayment shall
  reflect the amount of such overpayment, plus interest on such amount, as
  a reduction in amounts that would otherwise be estimated to be  due  the
  retirement  system  from the state. An item of appropriation which shall
  be sufficient to provide for such obligations shall be included  in  the
  next  annual  appropriation bill when it is presented to the legislature
  for passage. The amounts so appropriated or so much thereof  as  may  be
  required  shall  be  paid  from  the  state  treasury  on warrant of the
  comptroller into the pension accumulation fund and the  New  York  state
  public  employees  group  life  insurance plan, as appropriate, on March
  first of each state fiscal year.  For  the  purposes  of  this  section,
  interest  shall mean the rate or rates of interest used in the actuarial
  valuations covering the period of  time  over  which  such  interest  is
  computed.
b.  On  or  before  the  fifteenth  day  of  October  of each year the
  comptroller shall file with the  director  of  the  budget  an  itemized
  estimate  of  the  expenses of the police and fire retirement system for
  the ensuing year. The director of the budget may revise and  amend  such
  estimate. After such revision and amendment, if any, such director shall
  approve  the same for inclusion in the executive budget. No monies shall
  be paid out of the pension accumulation fund for  such  expenses  unless
  expenditures therefor shall have been authorized by law.
c.  Whenever  the  compensation  of  any member of the police and fire
  retirement system is paid from a special or administrative fund provided
  for by law, all contributions to the police and fire  retirement  system
  including  a  proportionate share of the administrative expense thereof,
  which otherwise would be chargeable to the general fund  of  the  state,
  shall,  with  the  approval  of the director of the budget, be paid from
  such special or administrative fund.