New York Laws
Article 11 - State Teachers' Retirement System for Public School Teachers
510 - Superannuation Retirement.

§ 510. Superannuation retirement. 1. Retirement upon a superannuation
allowance shall be made under the following conditions:

a. A member who has completed twenty-five years of total credited
service and who has attained the age of sixty years or over while in
service, or any member who has completed thirty-five years of total
credited service shall be retired, if he files with the retirement board
a statement duly attested setting forth at what time not less than
thirty days nor more than ninety days subsequent to the execution and
filing thereof he desires such retirement.

b. Any member who has attained age seventy may be retired at his own
request or at the request of his employer if he or his employer files
with the retirement board a statement duly attested setting forth at
what time subsequent to the execution and filing thereof retirement is
desired, and if throughout the year immediately preceding the filing of
such statement he shall have been in service as a teacher in this state.
The retirement board shall retire said member as of the date so
specified or as of such other time within thirty days thereafter as the
retirement board may find advisable.

2. Upon superannuation retirement a member shall receive a
superannuation retirement allowance which shall consist of:

a. An annuity which shall be the actuarial equivalent of his
accumulated contributions at the time of his retirement, and

b. A pension of one quarter (1/4) of his final average salary or if
his total service is less than twenty-five years, a pension of one
one-hundredth (1/100) of his final average salary multiplied by the
number of years of total service, and

c. A further pension of one one-hundred fortieth (1/140) of his final
average salary multiplied by the number of years of total state service
in excess of thirty-five years, and

d. If the member be a present teacher, a further pension of one
one-hundred fortieth (1/140) of his final average salary multiplied by
the number of years of total service certified on his prior service
certificate, and

e. If the member has contributed pursuant to paragraph c of
subdivision three of section five hundred sixteen, a further pension of
one one-hundred twentieth (1/120) of his final average salary for each
year of total service in excess of twenty-five years but not in excess
of thirty-five years, nor in excess of the number of years for which
credit is allowed under paragraph d of subdivision three of section five
hundred sixteen, and

f. A further pension, of such amount as shall be required to bring the
total retirement allowance of members with twenty-five or more years of
state service up to four hundred dollars per annum, and

g. The provision of paragraph (c) of subdivision two of this section
shall apply only to members retiring on and after the date on which
paragraph (c) of subdivision two of this section becomes operative.

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