502 - Eligibility for sevice retirement benefits; minimum service requirements. - New York Statutes

§ 502. Eligibility for service retirement benefits; minimum service requirements. a. A member who first joins a public retirement system of this state on or after June thirtieth, nineteen hundred seventy-six shall not be eligible for service retirement benefits hereunder until such member has rendered a minimum of five years of creditable service after July first, nineteen hundred seventy-three, except that a member who first joins the New York state and local employees' retirement system on or after January first, two thousand ten shall not be eligible for service retirement benefits pursuant to this article until such member has rendered a minimum of ten years of credited service. b. A member who previously was a member of a public retirement system of this state shall not be eligible for service retirement benefits hereunder until such member has rendered a minimum of five years of service which is creditable pursuant to section five hundred thirteen of this article. A member who first joins the New York state and local employees' retirement system on or after January first, two thousand ten shall not be eligible for service retirement benefits pursuant to this article until such member has rendered a minimum of ten years of credited service. c. An elective member who is not vested in the plan from which he or she transferred shall not be eligible for service retirement or vested benefits hereunder until such member has rendered a minimum period of service equal to the additional service which such member would have been required to accrue under such former plan in order to obtain a vested benefit. d. Notwithstanding any other provision of this section, a pensioner receiving a service retirement benefit: (i) who returns to active public service and joins or rejoins a public retirement system on or after July first, nineteen hundred seventy-six, and (ii) who thereafter separates from service before becoming eligible for a retirement benefit hereunder, shall, upon such separation, be entitled to receive the service retirement benefit which he or she was receiving prior to his or her last restoration to membership. Provided, however, if such pensioner was not subject to this article at the time he or she last retired, he or she shall, upon separation, be entitled to receive a retirement allowance which shall consist of an annuity which is the actuarial equivalent of his or her accumulated contributions, if any, and the pension, including pension-providing-for-increased-take-home-pay, which he or she was receiving prior to his last restoration to membership. e. Notwithstanding any other provision of this section, if a member attains mandatory retirement age, the minimum service requirements specified in this section shall be five years. f. Upon the first day of the month after the attainment of mandatory retirement age, a member shall be separated from service whether or not eligible for service retirement hereunder; provided however, that this requirement shall not preclude a member from being continued in service beyond such mandatory retirement age pursuant to other applicable provisions of law.