State Codes and Statutes
Statutes > New-york > Rss > Article-14 > 503§ 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 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. 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 correctional services, 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. d. The normal service retirement benefit specified in section five hundred five shall be paid to police/fire 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.
