N.Y. Retirement & Social Security Law § 640: Excess Benefit Plan

§ 640. Excess Benefit Plan. 1. Notwithstanding any other law to the

contrary, the New York state and local employees' retirement system and

the New York state and local police and fire retirement system are

hereby authorized to establish an excess benefit plan. The plan or plans

shall constitute a qualified governmental excess benefit plan pursuant

to section 415(m) of the Internal Revenue Code.

2. Such plan or plans are created for the purpose of providing

benefits to members of the New York state and local employees'

retirement system and the New York state and local police and fire

retirement system, whose benefits would otherwise be limited by section

415 of the Internal Revenue Code.

3. The comptroller, as administrative head of the New York state and

local employees' retirement system and the New York state and local

police and fire retirement system, is authorized to promulgate rules and

regulations necessary to implement the provisions of this article

including the actual terms and conditions of the excess benefit plan or

plans.