In 1.0 when you reached level 50 in a class you were able to get 1 copy of an item to reset your bonus points. As nobody was ever able to level past 35 in the betas, nobody has been able to confirm otherwise. (Legacy players over level 35 in P4 were unable to level and no quests were implemented over it, same with P4 weren't able to level or do quests over 20)