2015 New York Laws
RSS - Retirement & Social Security
Article 24 - (Retirement & Social Security) BENEFIT ENHANCEMENTS
1312 - Benefit enhancements.

NY Ret & SS L § 1312 (2015) What's This?

1312. Benefit enhancements. Notwithstanding any other law to the contrary, eligible employees shall be permitted to retire, without penalty, upon reaching age fifty-seven and completing at least thirty years of credited service. Employees retiring pursuant to this section shall receive a pension allowance equal to the sum of thirty-five per centum and one-fiftieth of final average salary for each year of service in excess of twenty times final average salary times years of credited service.


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