(a) a conservative principal protection fund;
(b) a growth fund;
(c) a secure return fund whose primary objective is the preservation
of the safety of principal and the provision of a stable and low-risk
rate of return; if the board elects to establish a secure return fund,
the board may procure any insurance, annuity, or other product to insure
the value of enrollees' accounts and guarantee a rate of return; the
cost of such funding mechanism shall be paid out of the fund; under no
circumstances shall the board, program, fund, the state, or any
participating employer assume any liability for investment or actuarial
risk; the board shall determine whether to establish or authorize such
investment options based upon an analysis of their cost, risk profile,
benefit level, feasibility, and ease of implementation;
(d) an annuity fund;
(e) a growth and income fund; or
(f) a life cycle fund with a target date based upon factors determined
by the board.
Structure New York Laws
Article 43 - New York State Secure Choice Savings Program
1302 - Composition of the Board.
1306 - Financial Organizations.
1307 - Investment Options.
1309 - Employer and Employee Informational Materials and Disclosure Forms.
1310 - Program Implementation and Enrollment.
1312 - Duty and Liability of the State.
1313 - Duty and Liability of Participating Employers.