NY Ret & SS L § 75-F (2021)
2021 New York Laws RSS - Retirement and Social Security Article 2 - New York State Employees' Retirement System Title 8 - General Provisions Relating to Retirement; Retirement Plans Applicable to Members Generally 75-F - Career Retirement Plan for State Employees.

§ 75-f. Career retirement plan for state employees. a. (1) A member of the  retirement  system  in the employ of the state who retires while in such employ on or after April first, nineteen  hundred  sixty-nine,  and who  is  entitled  to  a  service retirement benefit pursuant to section seventy-five-c and section  seventy-five-d  of  this  chapter,  and  who retires  with twenty-five or more years of total service, shall have his retirement allowance computed as provided under  section  seventy-five-c and  section seventy-five-d, except that the fraction one-fiftieth shall be substituted for the fraction  one-sixtieth  for  each  of  the  first twenty-five  years  of  such service, and that service rendered prior to April first, nineteen hundred thirty-eight shall  be  included  in  such computation.  (2) That portion of the pension provided pursuant to the provisions of this  section  which  is  in excess of the pension that the member would have received had this section not been in effect shall not be  included in  computing  any pension reserve payable pursuant to the provisions of section sixty of this chapter.   b. A member of the retirement system not in the employ of the state on April first, nineteen  hundred  sixty-nine,  who  thereafter  enters  or reenters  such  employ,  shall  not  be  entitled to have his retirement allowance computed pursuant to the provisions of this section unless:  (1) Such member renders five or more years of service in the employ of the state after March  thirty-first,  nineteen  hundred  sixty-nine  and retires from such employ, or  (2)  Immediately prior to service with the state, service was rendered while a member of a retirement system  maintained  by  the  state  or  a municipality  thereof,  operating on a sound actuarial basis and subject to the supervision of the  department  of  financial  services  of  this state,  in  a  plan  which provides service retirement benefits equal or superior to those provided under this section and at  the  date  of  his retirement such member would have been eligible for such benefits had he not separated from service with such employer.   c. A member eligible for a vested retirement allowance pursuant to the provisions  of section seventy-six, who separates from the employ of the state  on  or  after  April  first,  nineteen  hundred  sixty-nine  with twenty-five  or  more  years  of  total service, and who would have been eligible to have his  retirement  allowance  computed  pursuant  to  the provisions of this section had he at the time of separation attained age fifty-five,  shall at the time he becomes eligible to receive the vested retirement allowance, be entitled to have such allowance computed in the manner prescribed by this section.   d. In addition to the retirement allowance provided  pursuant  to  the plan  set forth in section eighty-nine of this chapter, a member of such plan who retires on or after April first,  nineteen  hundred  sixty-nine with  more  than twenty-five years of total service shall be entitled to receive, in addition  to  the  benefits  provided  pursuant  to  section eighty-nine  and  notwithstanding  the  limitations  of such section, an additional retirement allowance for such years of  service  rendered  in excess  of  twenty-five.  The  additional  retirement allowance for such additional years of service shall be computed as if such member had been eligible to have his  retirement  allowance  computed  pursuant  to  the provisions  of  paragraph one of subdivision a of section seventy-five-c and of paragraph one of subdivision a of section seventy-five-d of  this chapter.   e.  The  benefits  hereinabove  provided  shall  be payable unless the member would otherwise be entitled to  a  greater  benefit  under  other provisions  of this chapter, in which event the greater benefit shall be payable.    f. In the case of persons who last became members  on  or  after  July first,  nineteen  hundred  seventy-three, the provisions of this section shall apply only to those retiring or separating in vested  status  from state service prior to July first, nineteen hundred seventy-four.