New York Laws
Article 14 - Coordinated-Escalator Retirement Plan
504 - Service Retirement Benefits; General Members.

§ 504. Service retirement benefits; general members. a. The service
retirement benefit for general members at normal retirement age with
twenty or more years of credited service shall be a pension equal to
one-fiftieth of final average salary times years of credited service,
not in excess of thirty years, less fifty percent of the primary social
security retirement benefit as provided in section five hundred eleven
of this article. The service retirement benefit for general members at
normal retirement age with twenty or more years of service who first
become members of the New York state and local employees' retirement
system on or after April first, two thousand twelve at normal retirement
age shall be a pension equal to the sum of thirty-five per centum and
one-fiftieth of final average salary for each year of service in excess
of twenty, but not in excess of thirty, times final average salary times
years of credited service.

b. The service retirement benefit for general members at normal
retirement age with less than twenty years of credited service shall be
a pension equal to one-sixtieth of final average salary times years of
credited service, less fifty percent of the primary social security
retirement benefit as provided in section five hundred eleven.

c. The early service retirement benefit for general members, except
for general members whose early retirement benefit is specified in
subdivision d of this section, shall be the service retirement benefit
specified in subdivision a or b of this section, as the case may be,
without social security offset, reduced by one-fifteenth for each of the
first two years by which early retirement precedes age sixty-two, plus a
further reduction of: (1) one-thirtieth; or (2) one-twentieth for
members who first join the New York state and local employees'
retirement system on or after January first, two thousand ten, for each
year by which early retirement precedes age sixty, provided however,
that for members who first become members of the New York state and
local employees' retirement system on or after the effective date of the
chapter of the laws of two thousand twelve which amended this
subdivision, the early service retirement benefit for general members,
except for general members whose early retirement benefit is specified
in subdivision d of this section, shall be the service retirement
benefit specified in subdivision a or b of this section, as the case may
be, without social security offset, reduced by six and one-half per
centum for each year by which early retirement precedes age sixty-three.
At age sixty-two, the benefit shall be reduced by fifty percent of the
primary social security retirement benefit, as provided in section five
hundred eleven of this article.

d. The early service retirement benefit for general members in the
uniformed correction force of the New York city department of
correction, who are not entitled to an early service retirement benefit
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 for
general members 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,
shall be a pension equal to one-fiftieth of final average salary times
years of credited service at the completion of twenty-five years of
service, but not in excess of fifty percent of final average salary,
provided, however, that the provisions of this section shall not apply
to a New York city uniformed correction/sanitation revised plan member.

e. The early service retirement benefit for 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 who are in titles defined in subdivision
i of section eighty-nine of this chapter and who have made an election
pursuant to the provisions of article seventeen of this chapter, shall
be a pension equal to one-fiftieth of final average salary times years
of credited service at the completion of twenty-five years of service,
but not in excess of fifty percent of final average salary.