NY Ret & SS L § 375-D (2021)
2021 New York Laws RSS - Retirement and Social Security Article 8 - New York State and Local Police and Fire Retirement System Title 9 - General Provisions Relating to Retirement; Retirement Plans Applicable to Members Generally 375-D - Guaranteed Retirement Benefits for State Employees.

§  375-d. Guaranteed retirement benefits for state employees.  a. 1. A   member of the retirement system in the employ of the state on  or  after   January  first,  nineteen  hundred sixty-eight and prior to April first,   nineteen hundred sixty-eight who retires from such employ  on  or  after   April  first,  nineteen  hundred  sixty-eight,  and who is entitled to a   pension  pursuant  to   subdivision   b   of   section   three   hundred   seventy-five-c of this chapter, shall receive such an additional pension   for  member  service  rendered on or after April first, nineteen hundred   thirty-eight and prior to April first, nineteen hundred sixty,  as  will   provide,  when  added to the pension provided pursuant to paragraph two,   subdivision b of section three hundred seventy-five-c, and  the  annuity   which   is   the   actuarial  equivalent  of  the  member's  accumulated   contributions attributable to such period, computed on the basis of  his   rate  of  normal contribution, a retirement allowance of one-sixtieth of   final average salary for each year of such service. Such  annuity  shall   be  computed  as  it  would  be  if it were not reduced by the actuarial   equivalent of any  outstanding  loan  nor  by  reason  of  the  member's   election  to  decrease  his  contributions toward retirement in order to   apply the resulting amount toward payment of contributions for  old  age   and survivors insurance coverage.2.  The  additional  pension  provided under this section shall not be   included in computing  any  pension  reserve  payable  pursuant  to  the   provisions of section three hundred sixty of this chapter.3.  Any  accumulated contributions in excess of the amount required to   provide the annuity computed pursuant to paragraph one of subdivision  a   of  this  section  shall  be  used  to  increase the member's retirement   allowance.b. A member of the retirement system not in the employ of the state on   or after January first, nineteen hundred sixty-eight and prior to  April   first,  nineteen hundred sixty-eight, who thereafter enters or re-enters   such employ, shall not be entitled to the  additional  pension  provided   under this section for any period of member service rendered on or after   April  first,  nineteen  hundred  thirty-eight and prior to April first,   nineteen hundred sixty, unless he renders two or more years  of  service   in  the  employ  of  the  state  after  April  first,  nineteen  hundred   sixty-eight, and retires from such employ, except that  a  member  shall   retain  such  eligibility  for  the  additional pension provided by this   section that accrued by reason of previous employment immediately  prior   to employment with the state.c.  The  benefits  hereinabove  provided  shall  be payable unless the   member would otherwise under the provisions of this chapter be  entitled   to  a  greater  benefit,  in  which  event, the greater benefit shall be   payable.d. 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 from  state  service  prior  to  July   first, nineteen hundred seventy-four.