§ 503 — Eligibility for normal and early service retirement benefits; age and service requirements

§ 503. Eligibility for normal and early service retirement benefits;\nage and service requirements. a. The normal service retirement benefit\nspecified in section five hundred four of this article shall be payable\nto general members, other than elective members, who have met the\nminimum service requirements upon retirement and attainment of age\nsixty-two, provided, however, a general member who is a peace officer\nemployed by the unified court system or a member of a teachers'\nretirement system may retire without reduction of his or her retirement\nbenefit upon attainment of at least fifty-five years of age and\ncompletion of thirty or more years of service. For members who become\nmembers of the New York state and local employees' retirement system on\nor after April first, two thousand twelve, the normal service retirement\nbenefits specified in section five hundred four of this article shall be\npayable to general members, other than elective members, who have met\nthe minimum service requirements upon retirement and attainment of age\nsixty-three.\n b. The normal service retirement benefit specified in section five\nhundred four shall be payable to elective-general members who have met\nthe minimum service requirements upon retirement and attainment of\nwhichever of the following ages is applicable:\n (i) if the member was within ten years of the normal retirement age\nfor the plan from which such member transferred at the time of transfer,\nthe normal retirement age for such plan with respect to such member.\n (ii) if the member was not within ten years of the normal retirement\nage of the plan from which such member transferred, at an age equal to\nthe normal retirement age for such plan with respect to such member plus\none year for each year such member was more than ten years from such\nnormal retirement age at the time of transfer, provided that normal\nretirement age shall in no event be greater than five years more than\nthe normal retirement age of the plan from which the member transferred\nor age sixty.\n c. A general member shall be eligible for early service retirement at\nage fifty-five with five years of credited service. A general member in\nthe uniformed correction force of the New York city department of\ncorrection, who is not eligible for early service retirement pursuant to\nsubdivision c of section five hundred four-a of this article or\nsubdivision c of section five hundred four-b of this article or\nsubdivision c of section five hundred four-d of this article, or a\ngeneral member in the uniformed personnel in institutions under the\njurisdiction of the department of corrections and community supervision,\nas defined in subdivision i of section eighty-nine of this chapter or\nserving in institutions who is also in a title defined in such\nsubdivision and who has made an election pursuant to the provisions of\narticle seventeen of this chapter, shall also be eligible for early\nservice retirement after twenty-five years of credited service,\nprovided, however, that the provisions of this subdivision and\nsubdivision a of this section shall not apply to a New York city\nuniformed correction/sanitation revised plan member or an investigator\nrevised plan member.\n d. The normal service retirement benefit specified in section five\nhundred five of this article shall be paid to police/fire members, New\nYork city uniformed correction/sanitation revised plan members and\ninvestigator revised plan members without regard to age upon retirement\nafter twenty-two years of service, except that the normal service\nretirement benefit specified in section five hundred five of this\narticle shall be paid to police/fire members of the New York city police\npension fund, after twenty years of service; provided, however, that\nsuch normal service retirement benefit for police/fire members who are\nmembers of the New York city fire department pension fund shall be paid\nto such members of the New York city fire department pension fund\nwithout regard to age upon retirement after twenty years of service.\nEarly service retirement shall be permitted upon retirement after twenty\nyears of credited service or attainment of age sixty-two, provided,\nhowever, that New York city police/fire revised plan members, New York\ncity uniformed correction/sanitation revised plan members and\ninvestigator revised plan members shall not be eligible to retire for\nservice prior to the attainment of twenty years of credited service.\n