N.Y. Retirement and Social Security Law 179-A – Construction
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§ 179-a. Construction. In the event of any conflict or inconsistency between the provisions of this article four-a and the provisions of any other provision of law as to the percentage of assets of a fund which may be invested in any one type of investment or in any one particular investment, the provisions of this article shall govern.
Terms Used In N.Y. Retirement and Social Security Law 179-A
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- fund: as used in this article four-a, shall mean any public retirement system or pension fund which grants retirement or pension benefits to employees of the city of New York, employees of the state of New York, employees of any department or agency of the city of New York or the state of New York, and employees of any municipality or other participating employer participating in the New York state and local employees' retirement system or the New York state and local police and fire retirement system. See N.Y. Retirement and Social Security Law 176
- Trustee: A person or institution holding and administering property in trust.
Nothing contained in this article shall be construed to affect any lawful investment made prior to the effective date of this article by the trustee or trustees of a fund, and any such investment may be retained or disposed of by such trustee or trustees in accordance with any other provision of law.