NY Educ L § 511-A (2021)
2021 New York Laws EDN - Education Title 1 - General Provisions Article 11 - State Teachers' Retirement System for Public School Teachers 511-A - Special Service Retirement.

§ 511-a.   Special  service retirement.   1. Retirement upon a special   service  retirement  allowance  shall  be  made  under   the   following   conditions:  Any  member,  by written notice duly acknowledged and filed   with the retirement board before the first day of July, nineteen hundred   sixty-seven, or  within  two  years  after  he  last  became  a  member,   whichever  is later, may elect to contribute pursuant to this section on   the basis of retirement at an age within five years of the age  when  he   would  be  eligible  for  superannuation  retirement  as  provided under   subdivision one  of  section  five  hundred  ten,  but  not  before  age   fifty-five.  After such election the rate of deduction from the earnable   compensation of the contributor shall be six and one-half per centum  if   his  normal  rate as provided under section five hundred sixteen is four   per centum, and shall be eight per centum if such normal  rate  is  five   per  centum.  Where  a  member  elects  to  contribute  pursuant to this   section, contributions at such higher rate shall be made from the  first   day  of  July,  nineteen  hundred  sixty-seven, or from the first of the   month following the expiration of thirty days subsequent to  the  filing   of  his election, whichever is later. If, at the time of retirement, the   member's  accumulated  contributions  are  insufficient  to  provide  an   annuity  equal  to the pension provided under paragraph b of subdivision   four of this section, he shall have the privilege  of  paying  into  the   retirement system by a single payment the amount required in addition to   his  accumulated  contributions  to  provide  an  annuity  equal to said   pension.2. One year or more after the filing thereof, a  member  may  withdraw   his  election  to  contribute  pursuant  to this section on the basis of   special service retirement. Such withdrawal shall be by  written  notice   duly  acknowledged  and  filed  with  the  retirement board. Such member   thereafter  shall  contribute  on  the  basis  of  his  rate  of  normal   contribution.  Such  member,  upon  application  at  any  time  prior to   retirement and with the approval  of  the  retirement  board,  shall  be   entitled  to  a  refund  of  the amount of his contributions and regular   interest thereon, which is in excess of the amount  of  the  accumulated   contributions  which  he  would  then  have  to  his  credit had he been   contributing on the basis of his rate of normal contribution.3. Any  member  electing  to  contribute  towards  a  special  service   retirement  allowance  under  the  provisions  of  this section, who has   attained age fifty-five or over while in service, shall be  eligible  to   retire  at  any  time  within  five  years  before  the date he would be   eligible for superannuation retirement as provided under subdivision one   of section five hundred ten, if he files with  the  retirement  board  a   statement  duly attested setting forth at what time not less than thirty   days nor more than ninety days subsequent to the  execution  and  filing   thereof he desires such retirement.4.  Upon  special service retirement, a member shall receive a special   service retirement allowance which shall consist of:a.  An  annuity  which  shall  be  the  actuarial  equivalent  of  his   accumulated contributions at the time of his retirement, andb.  A  pension  of  one  quarter of his final average salary or if his   total  service  is  less  than  twenty-five  years,  a  pension  of  one   one-hundredth  of  his  final average salary multiplied by the number of   years of total service, andc. If the member be a  present  teacher,  a  further  pension  of  one   one-hundred  fortieth  of  his  final  average  salary multiplied by the   number of  years  of  total  service  certified  on  his  prior  service   certificate, andd.   If  the  member  has  contributed  pursuant  to  paragraph  c  of   subdivision three of section five hundred sixteen, a further pension  of    one one-hundred twentieth (1/120) of his final average salary multiplied   by  the  number of years of total service in excess of twenty-five years   but not in excess of thirty-five years, nor in excess of the  number  of   years for which credit is allowed under paragraph d of subdivision three   of section five hundred sixteen.