There is a newer version
of
the New York Laws
2018 New York Laws
EPT - Estates, Powers and Trusts
Article 9 - Perpetuities and Accumulations
Part 1 - Perpetuities
9-1.6 - Trust for Employees
Universal Citation: NY Est Pow & Trusts L § 9-1.6 (2018)
§ 9-1.6 Trust for employeesA trust created by an employer, as part of a stock bonus, pension, disability or death benefit or profit-sharing plan, for the exclusive benefit of some or all of his employees, to which contributions are made by such employer or employees, or both, for the purpose of distributing to such employees the income or principal, or both, of the fund so held in trust, is not invalid as violating the rule against perpetuities; but such trust may continue for such time as may be necessary to accomplish the purposes for which it is created.
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