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 › 73 - Discontinued Service After Twenty Years.

§  73.  Discontinued  service  after twenty years. a. Persons who last
became members before April eighth, nineteen hundred forty-three.
1. A person who last became a member  before  April  eighth,  nineteen
hundred  forty-three,  and  who  is  discontinued  from  service while a
member, through no fault or  delinquency  on  his  part,  may  elect  to
receive his accumulated contributions or a retirement allowance pursuant
to  the  provisions  of  paragraph  two,  three,  four  or  five of this
subdivision a, as the case may be, if:
(a) He shall have completed twenty years of total service, and
(b) During the six months immediately preceding  such  discontinuance,
he  shall  have been in paid service continuously, regularly and without
interruption.
The provisions of subparagraph (b) of this paragraph one shall not apply
to legislative employees or laborers who have  served  as  such  for  at
least  parts  of  each  of  the  two  years  immediately  preceding such
discontinuance.
2. A retirement allowance granted pursuant to the provisions  of  this
subdivision a shall consist of:
(a)   An  annuity  of  equivalent  actuarial  value  to  the  member's
accumulated contributions, and
(b)  A  pension   which   is   the   actuarial   equivalent   of   the
reserve-for-increased-take-home-pay to which he may be entitled, if any,
and
(c) A pension, to begin immediately, which shall consist of:
(1)  A  pension  which  is the actuarial equivalent, at his age at the
time of such discontinuance, of a pension  beginning  at  age  sixty  of
one-seventieth  of  his final average salary multiplied by the number of
years for which he has prior service credit and credit  for  service  in
war after world war I, if any, plus
(2)  A  pension  which  is the actuarial equivalent, at his age at the
time of such discontinuance, of a pension, beginning  at  age  sixty  of
one-one  hundred  fortieth of his final average salary multiplied by the
number of years for which he has member service credit.
3. If, in addition,  the  member  has  attained  age  forty-five,  the
retirement  allowance  granted  pursuant  to  this  subdivision  a shall
consist of:
(a)  An  annuity  of  equivalent  actuarial  value  to  the   member's
accumulated contributions, and
(b)   A   pension   which   is   the   actuarial   equivalent  of  the
reserve-for-increased-take-home-pay to which he may be entitled, if any,
and
(c) A pension, to begin immediately, which shall consist of:
(1) A pension which is the actuarial equivalent, at  his  age  at  the
time  of  such  discontinuance,  of  a pension beginning at age sixty of
one-seventieth of his final average salary multiplied by the  number  of
years  for  which  he has prior service credit and credit for service in
war after world war I, if any, plus fifty per centum of  the  difference
between  such pension and the pension that would be allowable to him for
such service if he were age sixty, plus
(2) A pension which is the actuarial equivalent, at  his  age  at  the
time  of  such  discontinuance,  of  a pension beginning at age sixty of
one-one hundred fortieth of his final average salary multiplied  by  the
number  of  years for which he has member service credit, plus fifty per
centum of the difference between such pension and the pension that would
be allowable to him for such service if he were age sixty.
4. If the member is age forty-five, and in addition, has been  at  any
time,  continuously  employed  for  twenty years or more, the retirement
allowance granted pursuant to this subdivision a shall consist of:
(a)  An  annuity  of  equivalent  actuarial  value  to  the   member's
accumulated contributions, and
(b)   A   pension   which   is   the   actuarial   equivalent  of  the
reserve-for-increased-take-home-pay to which he may be entitled, if any,
and
(c) A pension, to begin immediately, which shall consist of:
(1) A pension which is the actuarial equivalent, at  his  age  at  the
time  of  such  discontinuance,  of  a pension beginning at age sixty of
one-seventieth of his final average salary multiplied by the  number  of
years  for  which  he has prior service credit and credit for service in
war after world war I, if any, plus the difference between such  pension
and  the  pension  that would be allowable to him for such service if he
were age sixty, plus
(2) A pension which is the actuarial equivalent at his age at the time
of such discontinuance of a pension beginning at age  sixty  of  one-one
hundred fortieth of his final average salary multiplied by the number of
years for which he has member service credit plus the difference between
such  pension  and  the  pension that would be allowable to him for such
service if he were age sixty.
5. If the member shall have attained age fifty and has  been,  at  any
time, continuously employed for twenty-five years or more the retirement
allowance granted pursuant to this subdivision a shall consist of:
(a)   An  annuity  of  equivalent  actuarial  value  to  the  member's
accumulated contributions, and
(b)  A  pension   which   is   the   actuarial   equivalent   of   the
reserve-for-increased-take-home-pay to which he may be entitled, if any,
and
(c)  A pension, to begin immediately, which together with the annuity,
shall equal the retirement allowance which  would  be  payable  had  the
member  reached  age  sixty  at  the  time  of  discontinuance from such
service.
6. Time during which a member was:
(a)  Absent  on  leave  without  pay  after  January  first,  nineteen
twenty-one, or
(b) On a preferred eligible list pursuant to section eighty-one of the
civil  service  law  or  former section thirty-one of such law and after
such date, or
(c)  Rendering  paid  or  unpaid  services  to  the  state  or  to   a
participating   employer   prior  to  May  twentieth,  nineteen  hundred
fifty-five, for not to exceed four months immediately prior to which and
immediately subsequent to which he was in an employment on the basis  of
which he contributed to the retirement system,
shall  not  constitute  an  interruption  of continuous employment. Such
time, however, shall not be  counted  or  included  in  determining  the
length of his total service.
b.  Persons who last became members on or after April eighth, nineteen
hundred forty-three.
1. A person who last  became  a  member  on  or  after  April  eighth,
nineteen hundred forty-three, and who is discontinued from service while
a  member,  through  no  fault  or delinquency on his part, may elect to
receive his accumulated contributions or a retirement allowance pursuant
to the provisions of paragraph two of this subdivision b if:
(a) He shall have completed twenty years of total service, and
(b) During the six months immediately preceding  such  discontinuance,
he  shall  have been in paid service continuously, regularly and without
interruption.
The provisions of subparagraph (b) of this paragraph one shall not apply
to legislative employees or laborers who have  served  as  such  for  at

least  parts  of  each  of  the  two  years  immediately  preceding such
discontinuance.
2.  A  retirement allowance granted pursuant to the provisions of this
subdivision b shall consist of:
(a)  An  annuity  of  equivalent  actuarial  value  to  the   member's
accumulated contributions, and
(b)   A   pension   which   is   the   actuarial   equivalent  of  the
reserve-for-increased-take-home-pay to which he may be entitled, if any,
and
(c) A pension, to begin immediately, which shall be composed of one or
more of the following parts:
(1) One which is the actuarial equivalent, at his age at the  time  of
such   discontinuance,   of  a  pension,  beginning  at  age  sixty,  of
one-seventieth of his final average salary multiplied by the  number  of
years  for  which  he has prior service credit and credit for service in
war after world war I, if any, plus
(2) One which is the actuarial equivalent, at his age at the  time  of
such  discontinuance,  of  one-one hundred fortieth of his final average
salary multiplied by the number of years for which he has member service
credit, plus
(3) If the member shall have attained  age  fifty,  one  which  equals
fifty  per  centum  of the difference between the pension payable to him
pursuant to items one and two of this subparagraph (c) and  the  pension
that would be allowable to him were he age sixty.
3.  Application  shall  be  made for a discontinued service retirement
allowance pursuant to this subdivision b in the same manner and  subject
to  the  same  conditions  which  govern  applications and elections for
superannuation retirement allowances.