Section 10. The retirement system continued; a corporation

The retirement
  system, as established by chapter seven hundred forty-one of the laws of
  nineteen hundred twenty, as amended, is hereby  continued.  Such  system
  shall  continue  to  have the powers and privileges of a corporation and
  shall be known as the "New York State and  local  Employees'  Retirement
  System."  All  of  the  business  of  the  retirement  system  shall  be
  transacted, all of its funds invested and payments made, and all of  its
  cash, securities and other properties shall be held in such name, except
  as provided in article nine of this chapter.
    Reference  in  this  chapter or in any other law to the New York state
  employees' retirement system shall be deemed to mean and  refer  to  the
  New York state and local employees' retirement system.