New York State Insurance Department Annual Financial Statements of Employee Welfare Funds B0161

New York State Insurance Department Annual Financial Statements of Employee Welfare Funds

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Overview of the Records

Repository:

New York State Archives
New York State Education Department
Cultural Education Center
Albany, NY 12230

Summary:

The Welfare Fund Bureau of the State Insurance Department was formerly responsible for the registration and supervision of all welfare and pension funds (with the exception of those registered with the Banking Department) and for auditing the annual statements of those funds. In 1974, Congress passed the Employee Retirement Income Security Act (ERISA) and responsibility for the regulation of these funds was transferred from the State Insurance Department to the U.S. Department of Labor.

Creator:

New York (State). Insurance Department

Title:

Annual financial statements of employee welfare funds

Quantity:

86 cubic feet

Inclusive Dates:

1962-1967

Series Number:

B0161

Administrative History

Annual financial statements were required to be filed with the Insurance Department, according to Article III-A, Section 37-g of the Insurance Law, which states that "the trustees of every employee welfare fund shall file in the office of the superintendent annually within 5 months after the close of the fiscal year used in maintaining the records of such funds a statement, to be known as the annual statement of such fund . . . showing its conditions and affairs during such fiscal year."

The Welfare Fund Bureau of the Insurance Department was responsible for the registration and supervision of all welfare and pension funds (with the exception of those registered with the Banking Department) and for auditing the annual statements of those funds. In 1974, Congress passed the Employee Retirement Income Security Act (ERISA) and responsibility for the regulation of these funds was transferred from the State Insurance Department to the U.S. Department of Labor.