N.Y. Retire. & Soc. Sec. Law § 425

§ 425. Separability of retirement systems. No provision of this\narticle shall be construed as an impairment of the separability of or of\nthe corporate powers and privileges of the employees' retirement system\nor the police and fire retirement system. The comptroller shall\nestablish or continue separate funds and accounts for each retirement\nsystem, consistent with the common retirement fund herein provided for,\nas may be required to carry out the separate purposes and privileges of\neach retirement system.\n