ยง 21-a. Company pension plans; deductions from wages trust moneys;
preference. Moneys contributed from wages or salary by an employee or
former employee under any retirement system or plan maintained or
operated by a domestic corporation, association, co-partnership or
joint-stock company, together with all accumulations of interest, shall
belong to the employee making the contributions and be deemed to be held
in trust by the employer for the benefit of the employee. In all
distribution of assets of such an employer or former employer, whether
insolvent or otherwise, the amount so contributed, together with such
accumulations of interest, shall first be paid to the employee or former
employee, his executors, administrators or assigns, before payment of
unsecured creditors.
Structure New York Laws
Article 2 - General Assignments for the Benefit of Creditors
2 - Jurisdiction of Proceedings.
3 - Requisites of General Assignment.
5 - Notice to Creditors to Present Claims.
10 - Action on Bond; Application of Recovery.
11 - Proceedings in Case of Death of Assignee.
12 - Notices to Parties Interested in the Estate as Creditors or Otherwise.
13 - Debts Which May Be Proved Against the Estate.
16 - Examination of Witnesses.
18 - Effect of Orders; Power of Judge and Duties of Clerk.
19 - Sale and Compromise of Claims and Property.
21 - Trial, Costs and Commissions.
21-A - Company Pension Plans; Deductions From Wages Trust Moneys; Preference.
22 - Wages and Commissions and Preferred Claims.