This Part applies to distributions made on or after January 1, 1993. Notwithstanding any provision applicable to members and beneficiaries of the New York State and Local Retirement Systems to the contrary that would otherwise limit a distributee's election under this Part, a distributee may elect at the time and in the manner prescribed by the comptroller, to have any portion of an eligible rollover distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover, subject to the limitations provided in sections 356.4, 356.5 and 356.6 of this Part.