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 policemen's and firemen's retirement system. The comptroller\nshall establish or continue separate funds and accounts for each\nretirement system, consistent with the common retirement fund herein\nprovided for, as may be required to carry out the separate purposes and\nprivileges of each retirement system.\n