79. Cafeteria plans. To the extent permitted by section one hundred twenty-five of the internal revenue code and any regulations adopted pursuant thereto, any salary reduction elected by an employee who is a participant in either the New York state employees' retirement system or the New York state teachers' retirement system under a cafeteria plan or flexible benefit plan shall be considered part of annual compensation for the purpose of computing employer and employee retirement plan contributions and for computing retirement benefits.
Last modified: February 3, 2019