§ 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.