§ 604 — Service retirement benefits

New York § 604

• Jurisdiction: New York
• Law RSS: Retirement & Social Security
• Art. 15: Coordinated Retirement Plan

Text

§ 604. Service retirement benefits. a. The service retirement benefit\nat normal retirement age for a member with less than twenty years of\ncredited service, or less than twenty-five years credited service for a\nmember who joins the New York state teachers' retirement system on or\nafter January first, two thousand ten, shall be a retirement allowance\nequal to one-sixtieth of final average salary times years of credited\nservice. Normal retirement age for members who first become members of a\npublic retirement system of the state on or after April first, two\nthousand twelve shall be age sixty-three.\n b. The service retirement benefit at normal retirement age for a\nmember with twenty years or more of credited service, or with\ntwenty-five or more years credited service for a member who first joins\nthe New York state teachers' retirement system on or after January\nfirst, two thousand ten, shall be a retirement allowance equal to\none-fiftieth of final average salary times years of credited service not\nin excess of thirty years.\n Credited service in excess of thirty years shall provide an additional\nretirement allowance equal to three-two hundredths of the final average\nsalary for each year of credited service in excess of thirty years.\n b-1. Notwithstanding any other provision of law to the contrary, the\nservice retirement benefit for members with twenty or more years of\ncredit service who first become a member of a public retirement system\nof the state on or after April first, two thousand twelve at age\nsixty-three shall be a pension equal to the sum of thirty-five per\ncentum and one-fiftieth of final average salary for each year of service\nin excess of twenty times final average salary times years of credited\nservice. In no event shall any retirement benefit payable without\noptional modification be less than the actuarially equivalent annuitized\nvalue of the member's contributions accumulated with interest at five\npercent per annum compounded annually to the date of retirement.\n c. The early service retirement benefit for a member who is a\ncorrection officer of the Westchester county correction department as\ndefined in section eighty-nine-e of this chapter shall be a pension\nequal to one-fiftieth of final average salary times years of credited\nservice at the completion of twenty-five years of service as such\ncorrection officer, but not exceeding one-half of his or her final\naverage salary.\n d. 1. The early service retirement for a member who is employed in\nSuffolk county as a correction officer as defined in section\neighty-nine-f of this chapter, shall be a pension equal to one-fiftieth\nof final average salary times years of credited service at the\ncompletion of twenty-five years of service as such correction officer,\nbut not exceeding one-half of such member's final average salary.\n 2. The early service retirement for a member who is employed in\nSuffolk county as a correction officer as defined in section\neighty-nine-f of this chapter, shall be a pension equal to one-fiftieth\nof final average salary times years of credited service at the\ncompletion of thirty years of service as such correction officer, but\nnot exceeding sixty percent of such member's final average salary.\n e. The early service retirement for a member who is employed in Nassau\ncounty as a correction officer, uniformed correction division personnel,\nsheriff, undersheriff or deputy sheriff, as defined in section\neighty-nine-g of this chapter, shall be a pension equal to one-fiftieth\nof final average salary times years of credited service at the\ncompletion of twenty-five years of service as such correction officer,\nuniformed correction division personnel, sheriff, undersheriff or deputy\nsheriff, but not exceeding one-half of his or her final average salary.\n f. The early service retirement for a member who is employed in Albany\ncounty as a sheriff, undersheriff, deputy sheriff, correction officer or\nidentification officer as defined in section eighty-nine-h of this\nchapter shall be a pension equal to one-fiftieth of final average salary\ntimes years of credited service at the completion of twenty-five years\nof service as such sheriff, undersheriff, deputy sheriff, correction\nofficer or identification officer, but not exceeding one-half of his or\nher final average salary.\n ** g. The early service retirement benefit for a member who is\nemployed in St. Lawrence county as a sheriff, undersheriff, deputy\nsheriff or correction officer as defined in section eighty-nine-i of\nthis chapter shall be a pension equal to one-fiftieth of final average\nsalary times years of credited service at the completion of twenty-five\nyears of service as such sheriff, undersheriff, deputy sheriff or\ncorrection officer, but not exceeding one-half of his or her final\naverage salary.\n ** NB There are 3 sb g's\n ** g. The early service retirement benefit for a member who is\nemployed in Orleans county as a sheriff, undersheriff, deputy sheriff or\ncorrection officer as defined in section eighty-nine-l of this chapter\nshall be a pension equal to one-fiftieth of final average salary times\nyears of credited service at the completion of twenty-five years of\nservice as such sheriff, undersheriff, deputy sheriff or correction\nofficer, but not exceeding one-half of his or her final average salary.\n ** NB There are 3 sb g's\n ** g. The early service retirement benefit for a member who is\nemployed in Jefferson county as a sheriff, undersheriff, deputy sheriff\nor correction officer as defined in section eighty-nine-j of this\nchapter shall be a pension equal to one-fiftieth of final average salary\ntimes years of credited service at the completion of twenty-five years\nof service as such sheriff, undersheriff, deputy sheriff or correction\nofficer, but not exceeding one-half of his or her final average salary.\n ** NB There are 3 sb g's\n h. The early service retirement benefit for a member who is employed\nin Onondaga county as a deputy sheriff-jail division competitively\nappointed or as a correction officer as defined in section eighty-nine-k\nof this chapter shall be a pension equal to one-fiftieth of final\naverage salary times years of credited service at the completion of\ntwenty-five years of service as such deputy sheriff-jail division\ncompetitively appointed or as such correction officer, but not exceeding\none-half of his or her final average salary.\n i. 1. The early service retirement benefit for a member who is\nemployed in the office of the district attorney of Westchester county as\na chief criminal investigator, deputy chief criminal investigator,\ncriminal investigator, senior criminal investigator, confidential\ncriminal investigator, assistant criminal investigator or criminal\ninvestigator/arson shall be a pension equal to one-fiftieth of final\naverage salary times years of credited service at the completion of\ntwenty-five years of service as such chief criminal investigator, deputy\nchief criminal investigator, criminal investigator, senior criminal\ninvestigator, confidential criminal investigator, assistant criminal\ninvestigator or criminal investigator/arson, but not exceeding one-half\nof his or her final average salary.\n 2. Notwithstanding the provisions of paragraph one of this\nsubdivision, if the county of Westchester elects to provide the\nretirement benefit pursuant to this paragraph by adopting a resolution\nto such effect and filing a certified copy thereof with the comptroller,\nthe early service retirement benefit for a member who is employed in the\noffice of the district attorney of Westchester county as a chief\ncriminal investigator, deputy chief criminal investigator, criminal\ninvestigator, senior criminal investigator, confidential criminal\ninvestigator, assistant criminal investigator or criminal\ninvestigator/arson shall be a pension equal to one-fortieth of final\naverage salary times years of credited service at the completion of\ntwenty years of service as such chief criminal investigator, deputy\nchief criminal investigator, criminal investigator, senior criminal\ninvestigator, confidential criminal investigator, assistant criminal\ninvestigator or criminal investigator/arson, but not exceeding one-half\nof his or her final average salary.\n j. The early service retirement benefit for a member who is employed\nin Broome county as a sheriff, undersheriff, deputy sheriff or\ncorrection officer as defined in section eighty-nine-m of this chapter\nshall be a pension equal to one-fiftieth of final average salary times\nyears of credited service at the completion of twenty-five years of\nservice as such sheriff, undersheriff, deputy sheriff or correction\nofficer, but not exceeding one-half of his or her final average salary.\n k. The early service retirement benefit for a member who is a Monroe\ncounty deputy sheriff-court security, or deputy sheriff-jailor as\ndefined in section eighty-nine-n of this chapter shall be a pension\nequal to one-fiftieth of final average salary times years of credited\nservice at the completion of twenty-five years of service as such deputy\nsheriff-court security, or deputy sheriff-jailor, but not exceeding\none-half of his or her final average salary.\n l. The early service retirement for a member who is employed in Greene\ncounty as a sheriff, undersheriff, deputy sheriff or correction officer\nas defined in section eighty-nine-o of this chapter shall be a pension\nequal to one-fiftieth of final average salary times years of credited\nservice at the completion of twenty-five years of service as such\nsheriff, undersheriff, deputy sheriff or correction officer, but not\nexceeding one-half of his or her final average salary.\n m. The early service retirement benefit for a member who is employed\nin a county that makes the election provided for in subdivision j of\nsection eighty-nine-p of this chapter as a sheriff, undersheriff, deputy\nsheriff or correction officer as defined in section eighty-nine-p of\nthis chapter shall be a pension equal to one-fiftieth of final average\nsalary times years of credited service at the completion of twenty-five\nyears of service as such sheriff, undersheriff, deputy sheriff or\ncorrection officer, but not exceeding one-half of his or her final\naverage salary.\n n. The early service retirement benefit for a member who is a traffic\nofficer with the town of Elmira as defined in section eighty-nine-q of\nthis chapter shall be a pension equal to one-fiftieth of final average\nsalary times years of credited service at the completion of twenty-five\nyears of service as such traffic officer, but not exceeding one-half of\nhis or her final average salary.\n o. The early service retirement for a member who is employed by\nSuffolk county as a park police officer as defined in section\neighty-nine-r of this chapter, shall be a pension equal to one-fiftieth\nof final average salary times years of credited service at the\ncompletion of twenty-five years of service as such park police officer,\nbut not exceeding one-half of his or her final average salary. As used\nin this section "creditable service" shall include any and all services\nperformed as a park police officer of the Suffolk county department of\nparks, and any and all services performed as a park ranger of the\nSuffolk county department of parks.\n ** p. The early service retirement for a member who is employed as a\npeace officer as defined in section eighty-nine-s of this chapter, shall\nbe a pension equal to one-fiftieth of final average salary times years\nof credited service at the completion of twenty-five years of service as\nsuch probation officer, but not exceeding one-half of his or her final\naverage salary.\n ** NB There are 4 sb p's\n * p. The early service retirement for a member who is employed as an\nambulance medical technician, ambulance medical technician/supervisor or\na member who performs ambulance medical technician related services, or\na police medic, police medic supervisor or a member who performs police\nmedic related services as defined in section eighty-nine-s of this\nchapter, shall be a pension equal to one-fiftieth of final average\nsalary times years of credited service at the completion of twenty-five\nyears of service, but not exceeding one-half of his or her final average\nsalary; for service beyond twenty-five years the benefits shall increase\nby one-sixtieth of final average salary for each year of additional\nservice credit provided, however, that the total allowance payable\npursuant to this section shall not exceed three-fourths of such member's\nfinal average salary.\n ** NB There are 4 sb p's\n ** p. The early service retirement for a member who is employed as a\npeace officer as defined in section eighty-nine-s of this chapter, shall\nbe a pension equal to one-fiftieth of final average salary times years\nof credited service at the completion of twenty-five years of service as\nsuch probation officer, but not exceeding one-half of his or her final\naverage salary.\n ** NB There are 4 sb p's\n ** p. If the county of Rockland elects to provide the retirement\nbenefit pursuant to this subdivision by adopting a resolution to such\neffect and filing a certified copy thereof with the comptroller, the\nearly service retirement benefit for a member who is employed in the\noffice of the district attorney of Rockland county as a chief\ninvestigator/detective, criminal investigator-electronics, criminal\ninvestigator-child abuse, senior criminal investigator or criminal\ninvestigator shall be a pension equal to one-fortieth of final average\nsalary times years of credited service for the first twenty years of\nservice plus an additional one-sixtieth of final average salary times\nyears of credited service for each year beyond the first twenty years of\nservice as such chief investigator/detective, criminal\ninvestigator-electronics, criminal investigator-child abuse, senior\ncriminal investigator or criminal investigator, but not exceeding\nthree-fourths of his or her final average salary.\n ** NB There are 4 sb p's\n ** q. The early service retirement benefit for a member who is\nemployed in a county that makes the election provided for in subdivision\nj of section eighty-nine-t of this chapter as a peace officer as defined\nin section eighty-nine-t of this chapter shall be a pension equal to\none-fiftieth of final average salary times years of credited service at\nthe completion of twenty-five years of service as such peace officer in\na county probation department, but not exceeding one-half of his or her\nfinal average salary.\n ** NB There are 2 sb q's\n ** q. The early service retirement benefit for a member who is a\nqualifying member as defined in subdivision a of section eighty-nine-t\nof this chapter shall be a pension equal to one-fiftieth of final\naverage salary times years of qualifying service, as defined in section\neighty-nine-t of this chapter, at the completion of twenty-five years of\nsuch service, but not exceeding one-half of his or her final average\nsalary.\n ** NB There are 2 sb q's\n r. If the county of Suffolk elects to provide the retirement benefit\npursuant to this subdivision by adopting a resolution to such effect and\nfiling a certified copy thereof with the comptroller, the early service\nretirement benefit for a member which is employed in the office of the\ndistrict attorney of Suffolk county as a detective investigator, senior\ndetective investigator, principal detective investigator, special\ninvestigator, or district attorney investigator, shall be a pension\nequal to one-fortieth of final average salary times years of credited\nservice for the first twenty years of service plus an additional\none-sixtieth of final average salary times years of credited service\nbeyond the first twenty years of service as such detective investigator,\nsenior detective investigator, principal detective investigator, special\ninvestigator, or district attorney investigator, but not exceeding three\nfourths of his or her final average salary.\n ** s. The early service retirement benefit for a member who is a\nparamedic employed by the police department in the town of Tonawanda as\ndefined in section eighty-nine-v of this chapter shall be a pension\nequal to one-fiftieth of final average salary times years of credited\nservice at the completion of twenty-five years of service as such\nparamedic, but not exceeding one-half of his or her final average\nsalary. In addition thereto, upon retirement, each such member shall\nreceive, for each year of service in excess of twenty-five years, a\npension which shall be equal to one-sixtieth of his or her final average\nsalary. The total allowance payable pursuant to this section shall not\nexceed three-quarters of such member's final average salary.\n ** NB There are 3 sb s's\n ** s. The early service retirement for a member who is employed as a\ndeputy sheriff-civil as defined in section eighty-nine-v of this\nchapter, shall be a pension equal to one-fiftieth of final average\nsalary times years of credited service at the completion of twenty-five\nyears of service as such deputy sheriff-civil, but not exceeding\none-half of his or her final average salary.\n ** NB There are 3 sb s's\n ** s. The early service retirement for a member who is employed in\nRockland county as a correction officer as defined in section\neighty-nine-v of this chapter shall be a pension equal to one-fiftieth\nof final average salary times years of credited service at the\ncompletion of twenty-five years of service as such correction officer,\nbut not exceeding one-half of his or her final average salary.\n ** NB There are 3 sb s's\n t. The early service retirement benefit for a member who is employed\nin the county of Nassau as a county fire marshal, supervising fire\nmarshal, fire marshal, assistant fire marshal, assistant chief fire\nmarshal, chief fire marshal or division supervising fire marshal as\ndefined in section eighty-nine-w of this chapter shall be a pension\nequal to one-fiftieth of final average salary times years of credited\nservice at the completion of twenty-five years of service as such county\nfire marshal, supervising fire marshal, fire marshal, assistant fire\nmarshal, assistant chief fire marshal, chief fire marshal or division\nsupervising fire marshal, but not exceeding one-half of his or her final\naverage salary.\n u. The early service retirement for a member who is employed as a\ndeputy sheriff-civil as defined in section eighty-nine-x of this\nchapter, shall be a pension equal to one-fiftieth of final average\nsalary times years of credited service at the completion of twenty-five\nyears of service as such deputy sheriff-civil, but not exceeding\none-half of his or her final average salary.\n v. The early service retirement benefit for a member who is employed\nby a participating fire district that makes the election provided for in\nsubdivision j of section eighty-nine-ss of this chapter as an emergency\nmedical technician, critical care technician, advanced emergency medical\ntechnician, paramedic or supervisor of such titles in a participating\nSuffolk county fire district as defined in section eighty-nine-ss of\nthis chapter shall be a pension equal to one-fiftieth of final average\nsalary times years of credited service at the completion of twenty-five\nyears of service as such participating Suffolk county fire district\nemergency medical technician, critical care technician, advanced\nemergency medical technician, paramedic or supervisor of such titles,\nbut not exceeding one-half of his or her final average salary; for\nservice beyond twenty-five years the benefits shall increase by\none-sixtieth of final average salary for each year of additional service\ncredit provided, however, that the total allowance payable pursuant to\nthis section shall not exceed three-fourths of such member's final\naverage salary.\n w. The early service retirement benefit for a member who is employed\nin the division of military and naval affairs as a firefighter\napprentice, airport firefighter I, airport firefighter II, airport\nfirefighter III, or training and safety officer employed as defined in\nsection eighty-nine-y of this chapter shall be a pension equal to\none-fiftieth of final average salary times years of credited service at\nthe completion of twenty-five years of service as such division of\nmilitary and naval affairs firefighter apprentice, airport firefighter\nI, airport firefighter II, airport firefighter III, or training and\nsafety officer, but not exceeding one-half of their final average\nsalary.\n