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New York City: Headquarters: 42 Broadway, Manhattan, New York City, U.S. Motto: To protect and enhance the daily economic lives of New Yorkers to create thriving communities. Employees: 457 (FY 2024) Annual budget: $67.7 million (FY 2024) Department executive
Oversees the New York City Sheriff's Office, which acts as DOF's law enforcement division and the City's chief civil law enforcement agency. Through the Mayor's Office of Pensions and Investments, the Department of Finance also advises the Administration on the City's $160 billion pension system and $15 billion deferred compensation plan.
Section 21 of the New York State Social Services Law requires the New York State Department of Social Services to design and implement a Welfare Management System (WMS) capable of receiving, maintaining and processing information relating to persons who apply for benefits, or who are determined to be eligible for benefits under any program administered by the Department."
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Deferred compensation is an arrangement in which a portion of an employee's wage is paid out at a later date after which it was earned. Examples of deferred compensation include pensions , retirement plans , and employee stock options .
As of 2015, NYSIF was the largest workers' compensation insurance carrier in New York, with 46% of the market, and that year it earned $2.48 billion in premiums, placing it in the top ten in the United States. [2] On August 21, 2019, the agency launched a rebranding initiative with a new logo. [3]
Italian artist Maurizio Cattelan's "Comedian," a conceptual artwork comprising a banana stuck to a wall with duct tape, sold on Wednesday for $6.24 million at a Sotheby's auction in New York.