N.Y. Educ. Law § 6255

§ 6255. City not liable for payment of benefits. Neither the city nor\nthe board shall be a party to any contract purchased in whole or in part\nwith contributions made under the optional retirement program\nestablished and administered pursuant to this article. No retirement,\ndeath, or other benefits shall be payable by the city or by the board\nunder such optional retirement program. Such benefits shall be paid to\nelecting employees or their beneficiaries by the designated insurer or\ninsurers in accordance with the terms of their contracts.\n