2023 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.