N.Y. Est. Powers & Trusts Law § 9-1.7

§ 9-1.7 Trust for self-employed individuals and others\n No trust created under a retirement plan, which is exempt from federal\nincome taxation under the laws of the United States, is invalid as\nviolating the rule against perpetuities or the rules governing the\naccumulation of income. Such a trust may continue for such time as may\nbe necessary to accomplish the purposes for which it is created; may\npermit the accumulation of income until such time as the income is\ndistributed to the beneficiaries under the terms of the trust; and may,\naccording to its terms, be made irrevocable and the interest of its\nbeneficiaries nontransferable by assignment or otherwise. A trust so\nmade irrevocable is not subject to revocation upon the written consent\nof its beneficiaries as provided in 7-1.9.\n