2006 New York Code - Minimum Age For Retirement.

 
    §  442.  Minimum age for retirement. a. The minimum retirement age for
  any member of a retirement system who is subject to  the  provisions  of
  this article, other than a member permitted to retire upon completion of
  twenty  or twenty-five years of service pursuant to section four hundred
  forty-five of this article, or  a  member  who  is  eligible  to  retire
  pursuant  to  subdivision c of section four hundred forty-five-d of this
  article, and exclusive of retirement for disability, shall be sixty-two;
  however, such a member may retire prior to attainment of  age  sixty-two
  in  which  event the amount of his retirement benefit otherwise computed
  without optional modification from funds based on  other  than  his  own
  contributions  and exclusive of his pension-for-increased-take-home-pay,
  shall be reduced in accordance with the following schedule:
    1. For each of the  first  twenty-four  full  months  that  retirement
  predates age sixty-two, one-half of one percentum per month; and
    2.     For  each  full  month  that  retirement  predates  age  sixty,
  one-quarter of one percentum per month, but in no event shall retirement
  be permitted prior to attainment of age fifty-five.
    b. Notwithstanding the provisions of subdivision a of this section:
    1. A member who is a peace  officer  employed  by  the  unified  court
  system  or  a member of a teacher's retirement system or a member of the
  New York state and local employees' retirement system may retire without
  reduction of his retirement benefit upon  his  attainment  of  at  least
  fifty-five  years  of  age  and  completion  of  thirty or more years of
  service; and
    2. A member of the optional twenty year retirement plan for  sheriffs,
  undersheriffs,  and  regular  deputy  sheriffs  in  counties  which have
  elected to provide same having a mandatory retirement age on July first,
  nineteen hundred seventy-three, earlier than age  sixty-two  may  retire
  without  reduction  of  his  retirement  benefit  upon attainment of the
  mandatory retirement age; however, if such a  member  retires  prior  to
  attainment of the mandatory retirement age, the amount of his retirement
  benefit  otherwise  computed  without  optional  modification from funds
  based  on  other  than  his  own  contributions  and  exclusive  of  his
  pension-for-increased-take-home-pay, shall be reduced by one-half of one
  percentum per month for each full month by which his retirement predates
  such mandatory retirement age.
    3. Notwithstanding paragraph a of this subdivision or any other law to
  the contrary a participating employer may elect to provide its employees
  who  are  members of the optional twenty year retirement plan for police
  and  firefighters  eligibility  to  retire  at  age  fifty-five  without
  reduction  and then such employees may elect to join under section three
  hundred seventy-five-i or three hundred seventy-five-j of this  chapter,
  if either plan is provided by the employer, and retire without reduction
  of their retirement benefits upon attaining the age of fifty-five.
    4.  A  demand in collective bargaining negotiations for the additional
  benefit provided by paragraph three of this  subdivision  shall  not  be
  subject to the provisions of paragraph (b) or (c) of subdivision four of
  section two hundred nine of the civil service law, nor shall such demand
  be  subject  to  any provision for interest arbitration contained in any
  local law, resolution or ordinance adopted by  any  governmental  entity
  pursuant  to  subdivision one of section two hundred twelve of the civil
  service law.