N.Y. Workers' Compensation Law Section 88*2
Administration expenses


The entire expense of administering the state insurance fund shall be paid out of such fund which shall not be considered an agency or a fund of the state for the purposes of State Finance Law § 4 (Payments, transfers and deposits)section four of the state finance law. The portion of such expenses applicable and chargeable to the disability benefits fund shall be determined on an equitable basis with due allowance for the division of overhead expenses. There shall be submitted to the director of the budget quarterly financial statements on a calendar year basis. In no case shall the amount of administrative expenditures so authorized for an entire year from the workers’ compensation fund exceed twenty-five per centum of the earned premiums for such insurance for that year. In no case shall the amount of administrative expenditures authorized for the disability benefits fund for an entire year exceed twenty-five per centum of the premiums earned by that fund for such insurance for that year. No payment, expenditure or refund out of the state insurance fund shall be subject to pre-audit by the department of audit and control as provided by State Finance Law § 111 (Payment and refund of state moneys except upon audit by comptroller prohibited)section one hundred eleven of the state finance law. All appointments to positions in the state insurance fund shall be made subject to civil service requirements. * NB There are 2 § 88

Source: Section 88*2 — Administration expenses, https://www.­nysenate.­gov/legislation/laws/WKC/88*2 (updated Sep. 22, 2014; accessed Jul. 6, 2024).

76
Creation of state fund
77
Administration
78
Salaries and expenses
79
Meetings
80
Seal
81
Offices, lands, leaseholds and buildings
82
Powers and duties
83
Rules
84
General attorney
85
Commissioner of taxation and finance custodian of fund
86
Catastrophe surplus and reserves for workers’ compensation
86‑A
Catastrophe surplus and reserves for disability benefits
87
Investment of surplus or reserve
87‑A
Investment in obligations of the municipal assistance corporation for the city of New York
87‑B
Investments in obligations of the city of Yonkers
87‑BB
Investments in obligations of the city of Yonkers
87‑C
Investments in obligations of designated public benefit corporations
87‑D
Contractual obligations as evidence of indebtedness upon reimbursement of reserves
87‑E
Amortization of gains or losses
87‑F
Appropriations to the state insurance fund
87‑G
Advances to the urban development corporation
87‑H
Investments of the state insurance fund
87‑I
New York state insurance fund MWBE asset management and financial institution strategy
88
Administration expenses
88*2
Administration expenses
88‑A
Payments from special or administrative funds
88‑B
Coverage of employees in state-supported educational institutions
88‑C
Coverage of state employees
89
Rates for workers’ compensation
90
Dividends
91
Groups for accident prevention
92
Payment of premiums
93
Collection of premium in case of default
94
Withdrawal from fund
95
Record and audit of payrolls
96
Penalties for fraudulent practices
97
Inspections
98
Disclosures prohibited
99
Reports of state insurance fund
100
Insurance against liability to volunteer firefighters and ambulance workers

Accessed:
Jul. 6, 2024

Last modified:
Sep. 22, 2014

§ 88*2’s source at nysenate​.gov

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