N.Y. Comp. Codes R. & Regs. tit. 2, § 154.10 – Administration.

(a) State-administered defined contribution volunteer firefighter service award programs shall be administered by the State Comptroller unless the Comptroller retains an administrative service agency or financial organization to administer the programs. Upon receipt of a notice of adoption or transfer of a defined contribution volunteer firefighter service award program the Office of the State Comptroller shall notify the chief executive officer of the sponsor of the name, address and telephone number of the administrator and, if the administrator is not the State Comptroller, forward one copy of the notice of adoption or transfer to the administrator. In the event that there is a change in the identity of the administrator, the Office of the State Comptroller shall notify the chief executive officer of each sponsor of a State-administered defined contribution volunteer firefighter service award program of the identity of the new administrator.
(b) The administrator shall:
1. (1) prepare a standard form of program document which shall be utilized by all program sponsors;
2. (2) prepare all forms necessary for the administration of the program;
3. (3) compile and maintain all records required for the administration of the program, including records of participant account balances;
4. (4) prepare and distribute to participants, volunteer fire companies or volunteer fire departments and sponsors reports and program summaries as required by this Part;
5. (5) if the Comptroller is not the administrator, prepare and furnish to the Comptroller such reports as the Comptroller may require;
6. (6) record and process contributions made by program sponsors;
7. (7) approve applications for distributions of service awards;
8. (8) record and process distributions of service awards;
9. (9) withhold all taxes and prepare all tax reporting forms required by Federal, State and local law; and
10. (10) perform such other functions as may be required by or pursuant to article 11-A of the General Municipal Law and this Part.
(c) The Comptroller may designate himself or herself as the program trustee or the Comptroller may contract with a financial organization or administrative service agency to serve as program trustee. The program trustee shall:
1. (1) hold the assets of the programs in trust;
2. (2) receive and process contributions to the trust in a timely manner;
3. (3) invest the assets of the trust;
4. (4) annually determine the fair market value of the trust estate;
5. (5) make payments approved by the administrator to program participants and their beneficiaries, and other approved disbursements from the trust fund;
6. (6) provide the administrator with such information as may be necessary to enable the administrator to prepare the annual reports for sponsors and annual participant statements provided for in this Part and program agreement, including the reports and statements required for calendar year 2007;
7. (7) provide the administrator with such information as may be necessary to enable the administrator to withhold all appropriate taxes and prepare and file all tax reporting forms required by Federal, State and local law; and
8. (8) cooperate with the administrator and the Comptroller to ensure the effective and efficient operation of the programs. In furtherance of this purpose, the program trustee shall provide in a timely manner such information as the administrator may require to exercise and perform the administrator's powers and duties under the General Municipal Law, this Part and the program agreement. The program trustee shall also provide in a timely manner such information as the Comptroller may require to monitor the operation of the programs.
(d) If the Comptroller is not the administrator or the program trustee, the fee for providing such services shall be a charge against the sponsor and not exceed the amount or amounts which the administrator or program trustee is permitted to charge pursuant to an agreement between the administrator or program trustee and the Comptroller.