NY Ret & SS L § 503 (2021)
2021 New York Laws RSS - Retirement and Social Security Article 14 - Coordinated-Escalator Retirement Plan 503 - Eligibility for Normal and Early Service Retirement Benefits; Age and Service Requirements.

§  503.  Eligibility for normal and early service retirement benefits; age and service requirements. a. The normal service  retirement  benefit specified  in section five hundred four of this article shall be payable to general members, other  than  elective  members,  who  have  met  the minimum  service  requirements  upon  retirement  and  attainment of age sixty-two, provided, however, a general member who is  a  peace  officer employed  by  the  unified  court  system  or  a  member  of a teachers' retirement system may retire without reduction of his or her  retirement benefit  upon  attainment  of  at  least  fifty-five  years  of  age and completion of thirty or more years of service. For  members  who  become members  of the New York state and local employees' retirement system on or after April first, two thousand twelve, the normal service retirement benefits specified in section five hundred four of this article shall be payable to general members, other than elective members,  who  have  met the  minimum  service requirements upon retirement and attainment of age sixty-three.   b. The normal service retirement benefit  specified  in  section  five hundred  four  shall be payable to elective-general members who have met the minimum service  requirements  upon  retirement  and  attainment  of whichever of the following ages is applicable:  (i)  if  the  member was within ten years of the normal retirement age for the plan from which such member transferred at the time of transfer, the normal retirement age for such plan with respect to such member.  (ii) if the member was not within ten years of the  normal  retirement age  of  the plan from which such member transferred, at an age equal to the normal retirement age for such plan with respect to such member plus one year for each year such member was more than  ten  years  from  such normal  retirement  age  at  the  time of transfer, provided that normal retirement age shall in no event be greater than five  years  more  than the  normal retirement age of the plan from which the member transferred or age sixty.   c. A general member shall be eligible for early service retirement  at age  fifty-five with five years of credited service. A general member in the uniformed correction force  of  the  New  York  city  department  of correction, who is not eligible for early service retirement pursuant to subdivision  c  of  section  five  hundred  four-a  of  this  article or subdivision c  of  section  five  hundred  four-b  of  this  article  or subdivision  c  of  section  five  hundred  four-d of this article, or a general member in the uniformed  personnel  in  institutions  under  the jurisdiction of the department of corrections and community supervision, as  defined  in  subdivision i of section eighty-nine of this chapter or serving in  institutions  who  is  also  in  a  title  defined  in  such subdivision  and  who has made an election pursuant to the provisions of article seventeen of this chapter, shall  also  be  eligible  for  early service   retirement   after  twenty-five  years  of  credited  service, provided,  however,  that  the  provisions  of  this   subdivision   and subdivision  a  of  this  section  shall  not  apply  to a New York city uniformed correction/sanitation revised plan member or  an  investigator revised plan member.   d.  The  normal  service  retirement benefit specified in section five hundred five of this article shall be paid to police/fire  members,  New York  city  uniformed  correction/sanitation  revised  plan  members and investigator revised plan members without regard to age upon  retirement after  twenty-two  years  of  service. Early service retirement shall be permitted upon retirement after twenty  years  of  credited  service  or attainment  of  age  sixty-two,  provided,  however,  that New York city police/fire   revised   plan   members,   New   York   city    uniformed correction/sanitation revised plan members and investigator revised plan  members  shall  not  be  eligible  to  retire  for  service prior to the attainment of twenty years of credited service.