2010 New York Code
RSS - Retirement & Social Security
Article 14 - (500 - 520) COORDINATED-ESCALATOR RETIREMENT PLAN
505 - Service retirement benefits; police/fire members.

§ 505. Service retirement benefits; police/fire members. a. The normal
  service  retirement benefit for police/fire members at normal retirement
  age shall be a pension equal to fifty percent of final  average  salary,
  less  fifty  percent  of  the primary social security retirement benefit
  commencing at age sixty-two, as provided in section five hundred eleven.
    b. The early service retirement benefit for police/fire members  shall
  be a pension equal to two and one-tenths percent of final average salary
  times  years  of  credited  service at the completion of twenty years of
  service or upon attainment of age sixty-two, increased by  one-third  of
  one  percent of final average salary for each month of service in excess
  of twenty years, but not in excess of fifty  percent  of  final  average
  salary,  less  fifty  percent  of the primary social security retirement
  benefit commencing at age sixty-two as provided in section five  hundred
  eleven.
    c.  A police/fire member who retires with twenty-two years of credited
  service or less may become eligible for annual escalation of the service
  retirement benefit if he elects to  have  the  payment  of  his  benefit
  commence  on  the  date he would have completed twenty-two years and one
  month or more of service. In such event, the service retirement  benefit
  shall  equal  two  percent  of  final  average  salary  for each year of
  credited service, less fifty percent  of  the  primary  social  security
  retirement  benefit  commencing  at age sixty-two as provided in section
  five hundred eleven.