2023 New York Laws › MIL - Military › Article 11 - Privileges, Prohibitions and Penalties › 245 - Retirement Allowances of Certain War Veterans.

§ 245. Retirement allowances of certain war veterans. 1. Any member of
  a  teachers' retirement system to which the city of New York is required
  by law to make contributions on account of such member  who  (i)  is  an
  honorably  discharged  member  of  any branch of the armed forces of the
  United States, or (ii) has a qualifying condition, as defined in section
  one of the veterans' services law, and has received  a  discharge  other
  than bad conduct or dishonorable, or (iii) is a discharged LGBT veteran,
  as  defined  in  section  one  of  the  veterans'  services law, and has
  received a discharge other than  bad  conduct  or  dishonorable,  having
  served  as  such  during the time of war and who has attained the age of
  fifty years, may retire  upon  his  or  her  own  request  upon  written
  application to the board setting forth at what time not less than thirty
  days subsequent to the execution and filing thereof he or she desires to
  be  retired,  provided that such member at the time so specified for his
  or her retirement shall have completed at  least  twenty-five  years  of
  allowable  service. Upon retirement such member shall receive an annuity
  of equivalent actuarial value to his or her accumulated deductions, and,
  in addition, a pension beginning immediately, having a  value  equal  to
  the  present  value of the pension that would have become payable had he
  or she continued at his or her current salary to the age at which he  or
  she  would  have first become eligible for service retirement, provided,
  however, that the said member on making application for retirement shall
  pay into the retirement fund a sum  of  money  which  calculated  on  an
  actuarial  basis, together with his or her prior contributions and other
  accumulations in  said  fund  then  to  his  or  her  credit,  shall  be
  sufficient  to  entitle  the said member to the same annuity and pension
  that he or she would have received had he or she remained in the service
  of the city until he or she had attained the age  at  which  he  or  she
  otherwise would have first become eligible for service retirement.
2.  Notwithstanding  any  other  provision  of  this section or of any
  general, special or local law or code to the contrary, a member  of  any
  such  teachers'  retirement  system  who  (i) is separated or discharged
  under honorable conditions from any branch of the armed  forces  of  the
  United States, or (ii) has a qualifying condition, as defined in section
  one  of  the  veterans' services law, and has received a discharge other
  than bad conduct or dishonorable, or (iii) is a discharged LGBT veteran,
  as defined in section  one  of  the  veterans'  services  law,  and  has
  received  a  discharge  other  than  bad conduct or dishonorable, having
  served as such during the time of war and who has attained  the  age  of
  fifty  years,  may  retire  upon  his  or  her  own request upon written
  application to the board setting forth  at  what  time,  not  less  than
  thirty  days  subsequent  to the execution and filing thereof, he or she
  desires to be retired,  provided  that  such  member  at  that  time  so
  specified  for  his  or  her  retirement  shall  have completed at least
  twenty-five years  of  allowable  service.  Upon  reaching  his  or  her
  previously selected minimum retirement age, such member shall receive an
  annuity  of  equivalent  actuarial  value,  at  that time, to his or her
  accumulated deductions, and, in addition, a pension based  upon  his  or
  her     credited     years    of    allowable    service,    plus    the
  pension-for-increased-take-home-pay, if  any.  Should  such  member  die
  before  reaching his or her retirement age, then any beneficiary under a
  selected option shall be eligible for benefits under such option at  the
  date  upon  which  the  member  would  have  reached his or her selected
  retirement age.