N.Y. Comp. Codes R. & Regs. tit. 9 § 1640-8.2

Current through Register Vol. 46, No. 25, June 18, 2024

Section 1640-8.2 - Accounting for employees retirement benefit charges

The charges to the local agency for employees retirement benefits are eligible development costs and operating expenses of a State-aided project. Such charges shall be made as follows:

(a) The charge to the local agency for the prior service credit (§ 1640-8.1, subd. [c]) shall be made to the accounting period in which the date of adoption falls.

(b) The charge arising out of the application of the over-all contribution rate (§ 1640-8.1, subd. [d]) shall be spread over the accounting periods, beginning with the date of adoption, to which such payrolls apply, and shall be in proportion to the various payrolls.

(c) The charge of the Comptroller for the cost of determining the accrued liability of the local agency as of the end of the first year after adoption (§ 1640-8.1 subd. [e]) shall be made to the accounting period in which charge is made by the Comptroller.

(d) The charge of the Comptroller for the cost of determining a tentative special deficiency contribution rate prior to the end of the first year after adoption (§ 1640-8.1, subd. [e]) shall be made to the accounting period in which the charge is made by the Comptroller.

(e) No accruals for employee retirement benefit charges or costs in connection therewith shall be made to apply to any accounting period which is prior to the date of adoption.

(f) Development cost account 1410.9, Employees Retirement Fund, and operating expense account 4715, Pension and Other Funds, are provided for all charges in connection with employees' retirement benefits.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1640-8.2