Section 442. Minimum age for retirement

a. The minimum retirement age for
  any member of a retirement system who is subject to  the  provisions  of
  this article, other than a member permitted to retire upon completion of
  twenty  or twenty-five years of service pursuant to section four hundred
  forty-five of this article, or  a  member  who  is  eligible  to  retire
  pursuant  to  subdivision c of section four hundred forty-five-d of this
  article or subdivision c of section four hundred  forty-five-i  of  this
  article, and exclusive of retirement for disability, shall be sixty-two;
  however,  such  a member may retire prior to attainment of age sixty-two
  in which event the amount of his retirement benefit  otherwise  computed
  without  optional  modification  from  funds based on other than his own
  contributions and exclusive of his  pension-for-increased-take-home-pay,
  shall be reduced in accordance with the following schedule:
    1.  For  each  of  the  first  twenty-four full months that retirement
  predates age sixty-two, one-half of one percentum per month; and
    2. For each full month that retirement predates age sixty, one-quarter
  of one percentum  per  month,  but  in  no  event  shall  retirement  be
  permitted prior to attainment of age fifty-five.
    b. Notwithstanding the provisions of subdivision a of this section:
    1.  A  member  who  is  a  peace officer employed by the unified court
  system or a member of a teacher's retirement system or a member  of  the
  New York state and local employees' retirement system may retire without
  reduction  of  his  retirement  benefit  upon his attainment of at least
  fifty-five years of age and  completion  of  thirty  or  more  years  of
  service; and
    2.  A member of the optional twenty year retirement plan for sheriffs,
  undersheriffs, and  regular  deputy  sheriffs  in  counties  which  have
  elected to provide same having a mandatory retirement age on July first,
  nineteen  hundred  seventy-three,  earlier than age sixty-two may retire
  without reduction of his  retirement  benefit  upon  attainment  of  the
  mandatory  retirement  age;  however,  if such a member retires prior to
  attainment of the mandatory retirement age, the amount of his retirement
  benefit otherwise computed  without  optional  modification  from  funds
  based  on  other  than  his  own  contributions  and  exclusive  of  his
  pension-for-increased-take-home-pay, shall be reduced by one-half of one
  percentum per month for each full month by which his retirement predates
  such mandatory retirement age.
    3. Notwithstanding paragraph a of this subdivision or any other law to
  the contrary a participating employer may elect to provide its employees
  who are members of the optional twenty year retirement plan  for  police
  and  firefighters  eligibility  to  retire  at  age  fifty-five  without
  reduction and then such employees may elect to join under section  three
  hundred  seventy-five-i or three hundred seventy-five-j of this chapter,
  if either plan is provided by the employer, and retire without reduction
  of their retirement benefits upon attaining the age of fifty-five.
    4. A demand in collective bargaining negotiations for  the  additional
  benefit  provided  by  paragraph  three of this subdivision shall not be
  subject to the provisions of paragraph (b) or (c) of subdivision four of
  section two hundred nine of the civil service law, nor shall such demand
  be subject to any provision for interest arbitration  contained  in  any
  local  law,  resolution  or ordinance adopted by any governmental entity
  pursuant to subdivision one of section two hundred twelve of  the  civil
  service law.