New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter VI - New York State and Local Employees' Retirement System and New York State and Local Police and Fire Retirement System
Part 379 - COMPLIANCE WITH INTERNAL REVENUE CODE SECTIONS 401(A) AND 415(B) PROVISIONS
Section 379.4 - Use of forfeitures

Forfeitures arising under the Retirement System for any reason may not be applied to increase the benefits of any members at any time prior to the termination of the Retirement System within the meaning of Internal Revenue Code section 401(a)(8) or any successor thereto. In the event of the termination of the Retirement System or a complete or permanent discontinuance of contributions thereunder, any individual who is a member at such time shall be 100 percent vested in his or her accrued benefits under the Retirement System to the extent required by Internal Revenue Code section 401(a)(7) as in effect on September 1, 1974.