NY Ret & SS L § 442 (2021)
2021 New York Laws RSS - Retirement and Social Security Article 11 - Limitations Applicable to New Entrants 442 - Minimum Age for Retirement.

§  442.  Minimum age for retirement. a. The minimum retirement age for   any member of a retirement system who is subject to  the  provisions  of   this article, other than a member permitted to retire upon completion of   twenty  or twenty-five years of service pursuant to section four hundred   forty-five of this article, or  a  member  who  is  eligible  to  retire   pursuant  to  subdivision c of section four hundred forty-five-d of this   article or subdivision c of section four hundred  forty-five-i  of  this   article, and exclusive of retirement for disability, shall be sixty-two;   however,  such  a member may retire prior to attainment of age sixty-two   in which event the amount of his retirement benefit  otherwise  computed   without  optional  modification  from  funds based on other than his own   contributions and exclusive of his  pension-for-increased-take-home-pay,   shall be reduced in accordance with the following schedule:1.  For  each  of  the  first  twenty-four full months that retirement   predates age sixty-two, one-half of one percentum per month; and2. For each full month that retirement predates age sixty, one-quarter   of one percentum  per  month,  but  in  no  event  shall  retirement  be   permitted prior to attainment of age fifty-five.b. Notwithstanding the provisions of subdivision a of this section:1.  A  member  who  is  a  peace officer employed by the unified court   system or a member of a teacher's retirement system or a member  of  the   New York state and local employees' retirement system may retire without   reduction  of  his  retirement  benefit  upon his attainment of at least   fifty-five years of age and  completion  of  thirty  or  more  years  of   service; and2.  A member of the optional twenty year retirement plan for sheriffs,   undersheriffs, and  regular  deputy  sheriffs  in  counties  which  have   elected to provide same having a mandatory retirement age on July first,   nineteen  hundred  seventy-three,  earlier than age sixty-two may retire   without reduction of his  retirement  benefit  upon  attainment  of  the   mandatory  retirement  age;  however,  if such a member retires prior to   attainment of the mandatory retirement age, the amount of his retirement   benefit otherwise computed  without  optional  modification  from  funds   based  on  other  than  his  own  contributions  and  exclusive  of  his   pension-for-increased-take-home-pay, shall be reduced by one-half of one   percentum per month for each full month by which his retirement predates   such mandatory retirement age.3. Notwithstanding paragraph a of this subdivision or any other law to   the contrary a participating employer may elect to provide its employees   who are members of the optional twenty year retirement plan  for  police   and  firefighters  eligibility  to  retire  at  age  fifty-five  without   reduction and then such employees may elect to join under section  three   hundred  seventy-five-i or three hundred seventy-five-j of this chapter,   if either plan is provided by the employer, and retire without reduction   of their retirement benefits upon attaining the age of fifty-five.4. A demand in collective bargaining negotiations for  the  additional   benefit  provided  by  paragraph  three of this subdivision shall not be   subject to the provisions of paragraph (b) or (c) of subdivision four of   section two hundred nine of the civil service law, nor shall such demand   be subject to any provision for interest arbitration  contained  in  any   local  law,  resolution  or ordinance adopted by any governmental entity   pursuant to subdivision one of section two hundred twelve of  the  civil   service law.