N.Y. Est. Powers & Trusts Law § 9-1.6

§ 9-1.6 Trust for employees\n A trust created by an employer, as part of a stock bonus, pension,\ndisability or death benefit or profit-sharing plan, for the exclusive\nbenefit of some or all of his employees, to which contributions are made\nby such employer or employees, or both, for the purpose of distributing\nto such employees the income or principal, or both, of the fund so held\nin trust, is not invalid as violating the rule against perpetuities; but\nsuch trust may continue for such time as may be necessary to accomplish\nthe purposes for which it is created.\n