2013 New York Consolidated Laws
RSS - Retirement & Social Security
Article 14 - (500 - 520) COORDINATED-ESCALATOR RETIREMENT PLAN
503 - Eligibility for normal and early service retirement benefits; age and service requirements.

 
    §  503.  Eligibility for normal and early service retirement benefits;
  age and service requirements. a. The normal service  retirement  benefit
  specified  in section five hundred four of this article shall be payable
  to general members, other  than  elective  members,  who  have  met  the
  minimum  service  requirements  upon  retirement  and  attainment of age
  sixty-two, provided, however, a general member who is  a  peace  officer
  employed  by  the  unified  court  system  or  a  member  of a teachers'
  retirement system may retire without reduction of his or her  retirement
  benefit  upon  attainment  of  at  least  fifty-five  years  of  age and
  completion of thirty or more years of service. For  members  who  become
  members  of the New York state and local employees' retirement system on
  or after April first, two thousand twelve, the normal service retirement
  benefits specified in section five hundred four of this article shall be
  payable to general members, other than elective members,  who  have  met
  the  minimum  service requirements upon retirement and attainment of age
  sixty-three.
    b. The normal service retirement benefit  specified  in  section  five
  hundred  four  shall be payable to elective-general members who have met
  the minimum service  requirements  upon  retirement  and  attainment  of
  whichever of the following ages is applicable:
    (i)  if  the  member was within ten years of the normal retirement age
  for the plan from which such member transferred at the time of transfer,
  the normal retirement age for such plan with respect to such member.
    (ii) if the member was not within ten years of the  normal  retirement
  age  of  the plan from which such member transferred, at an age equal to
  the normal retirement age for such plan with respect to such member plus
  one year for each year such member was more than  ten  years  from  such
  normal  retirement  age  at  the  time of transfer, provided that normal
  retirement age shall in no event be greater than five  years  more  than
  the  normal retirement age of the plan from which the member transferred
  or age sixty.
    c. A general member shall be eligible for early service retirement  at
  age  fifty-five with five years of credited service. A general member in
  the uniformed correction force  of  the  New  York  city  department  of
  correction, who is not eligible for early service retirement pursuant to
  subdivision  c  of  section  five  hundred  four-a  of  this  article or
  subdivision c  of  section  five  hundred  four-b  of  this  article  or
  subdivision  c  of  section  five  hundred  four-d of this article, or a
  general member in the uniformed  personnel  in  institutions  under  the
  jurisdiction of the department of corrections and community supervision,
  as  defined  in  subdivision i of section eighty-nine of this chapter or
  serving in  institutions  who  is  also  in  a  title  defined  in  such
  subdivision  and  who has made an election pursuant to the provisions of
  article seventeen of this chapter, shall  also  be  eligible  for  early
  service   retirement   after  twenty-five  years  of  credited  service,
  provided,  however,  that  the  provisions  of  this   subdivision   and
  subdivision  a  of  this  section  shall  not  apply  to a New York city
  uniformed correction/sanitation revised plan member or  an  investigator
  revised plan member.
    d.  The  normal  service  retirement benefit specified in section five
  hundred five of this article shall be paid to police/fire  members,  New
  York  city  uniformed  correction/sanitation  revised  plan  members and
  investigator revised plan members without regard to age upon  retirement
  after  twenty-two  years  of  service. Early service retirement shall be
  permitted upon retirement after twenty  years  of  credited  service  or
  attainment  of  age  sixty-two,  provided,  however,  that New York city
  police/fire   revised   plan   members,   New   York   city    uniformed
  correction/sanitation revised plan members and investigator revised plan

  members  shall  not  be  eligible  to  retire  for  service prior to the
  attainment of twenty years of credited service.