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 379.5 - Exclusive benefit

Notwithstanding any other provision of law, no funds of the Retirement System shall be expended for any purpose other than the expense of administration of the Retirement System, investments for the benefit of the Retirement System, and the provision of benefits to the members and retired members of the Retirement System and their survivors and beneficiaries; provided, however, that reversions will be permitted to the extent allowed under the Internal Revenue Code and any related guidance thereunder, including, but not limited, to, a mistake of fact as permitted under applicable Internal Revenue Service guidance.