N.Y. RSS Law § 620

§ 620. Benefit limitations. 1. Notwithstanding any other law to the\ncontrary, for all members of a public retirement system to which the\nstate or a municipality contributes who join on or after January first,\nnineteen hundred ninety, the benefits payable shall be subject to the\nlimitations set forth in section four hundred fifteen of the Internal\nRevenue Code.\n 2. Notwithstanding any other law to the contrary, for all members of a\npublic retirement system to which the state or a municipality\ncontributes who joined prior to January first, nineteen hundred ninety,\nthe benefits payable shall be subject to the greater of the following\nlimitations as provided in paragraph ten of subdivision (b) of section\nfour hundred fifteen of the Internal Revenue Code:\n a. the limitations set forth in section four hundred fifteen of the\nInternal Revenue Code, or\n b. the accrued benefit of the member without regard to any benefit\nincreases pursuant to a plan amendment adopted after October fourteenth,\nnineteen hundred eighty-seven.\n 3. Notwithstanding the foregoing, any benefit which has been limited\nby either the dollar or compensation limitations of section 415 of the\nInternal Revenue Code shall be increased for cost-of-living adjustments\nof such limitations pursuant to such section and the applicable\nregulations thereunder, provided, however, the benefit shall not exceed\nthe benefit otherwise payable but for the limitations of Internal\nRevenue Code section 415.\n 4. Notwithstanding any other law, the limitation year of the New York\nstate teachers' retirement system for the purposes of section 415 of the\nInternal Revenue Code shall be the period commencing on the first day of\nJuly of each year and ending on the thirtieth day of June next\nfollowing.\n 5. Notwithstanding any other law, the limitation year of the New York\nstate and local employees' retirement system and the New York state and\nlocal police and fire retirement system for the purposes of section 415\nof the Internal Revenue Code shall be the period commencing on the first\nday of April of each year and ending on the thirty-first day of March\nnext following.\n 6. Notwithstanding any other law, the limitation years of the New York\ncity employees' retirement system, the New York city teachers'\nretirement system, the New York city board of education retirement\nsystem, the New York city police pension fund and the New York city fire\ndepartment pension fund for the purposes of section 415 of the Internal\nRevenue Code shall be the period commencing on the first day of July of\neach year and ending on the thirtieth day of June next following.\n