Section 373. Discontinued service after twenty years

a. Persons who last
  became members of the New York state employees' retirement system before
  April eighth, nineteen hundred forty-three and  became  members  of  the
  policemen's  and  firemen's  retirement  system on or after April first,
  nineteen hundred sixty-seven, and who as members of state system  became
  members of this system:
    1.  Are  discontinued from service while a member, through no fault or
  delinquency  on  his  part,  may  elect  to  receive   his   accumulated
  contributions  or  a  retirement allowance pursuant to the provisions of
  paragraph two, three, four or five of this subdivision a,  as  the  case
  may be, if:
    (a) He shall have completed twenty years of total service, and
    (b)  During  the six months immediately preceding such discontinuance,
  he shall have been in paid service continuously, regularly  and  without
  interruption.
    2.  A  retirement allowance granted pursuant to the provisions of this
  subdivision a shall consist of:
    (a)  An  annuity  of  equivalent  actuarial  value  to  the   member's
  accumulated contributions, and
    (b)   A   pension   which   is   the   actuarial   equivalent  of  the
  reserve-for-increased-take-home-pay to which he may be entitled, if any,
  and
    (c) A pension, to begin immediately, which shall consist of;
    (1) A pension which is the actuarial equivalent, at  his  age  at  the
  time  of  such  discontinuance,  of  a pension beginning at age sixty of
  one-seventieth of his final average salary multiplied by the  number  of
  years  for  which  he has prior service credit and credit for service in
  war after world war I, if any, plus
    (2) A pension which is the actuarial equivalent, at  his  age  at  the
  time  of  such  discontinuance,  of a pension, beginning at age sixty of
  one-one hundred fortieth of his final average salary multiplied  by  the
  number of years for which he has member service credit.
    3.  If,  in  addition,  the  member  has  attained age forty-five, the
  retirement allowance  granted  pursuant  to  this  subdivision  a  shall
  consist of:
    (a)   An  annuity  of  equivalent  actuarial  value  to  the  member's
  accumulated contributions, and
    (b)  A  pension   which   is   the   actuarial   equivalent   of   the
  reserve-for-increased-take-home-pay to which he may be entitled, if any,
  and
    (c) A pension, to begin immediately, which shall consist of:
    (1)  A  pension  which  is the actuarial equivalent, at his age at the
  time of such discontinuance, of a pension  beginning  at  age  sixty  of
  one-seventieth  of  his final average salary multiplied by the number of
  years for which he has prior service credit and credit  for  service  in
  war  after  world war I, if any, plus fifty per centum of the difference
  between such pension and the pension that would be allowable to him  for
  such service if he were age sixty, plus
    (2)  A  pension  which  is the actuarial equivalent, at his age at the
  time of such discontinuance, of a pension  beginning  at  age  sixty  of
  one-one  hundred  fortieth of his final average salary multiplied by the
  number of years for which he has member serve  credit,  plus  fifty  per
  centum of the difference between such pension and the pension that would
  be allowable to him for such service if he were age sixty.
    4.  If the member is age forty-five, and in addition, has been, at any
  time, continuously employed for twenty years  or  more,  the  retirement
  allowance granted pursuant to this subdivision a shall consist of:

    (a)   An  annuity  of  equivalent  actuarial  value  to  the  member's
  accumulated contributions, and
    (b)   A   pension   which   is   the   actuarial   equivalent  of  the
  reserve-for-increased-take-home-pay to which he may be entitled, if any,
  and
    (c) A pension, to begin immediately, which shall consist of:
    (1) A pension which is the actuarial equivalent, at  his  age  at  the
  time  of  such  discontinuance,  of  a pension beginning at age sixty of
  one-seventieth of his final average salary multiplied by the  number  of
  years  for  which  he has prior service credit and credit for service in
  war after world war I, if any, plus the difference between such  pension
  and  the  pension  that would be allowable to him for such service if he
  were age sixty, plus
    (2) A pension which is the actuarial equivalent at his age at the time
  of such discontinuance of a pension beginning at age  sixty  of  one-one
  hundred fortieth of his final average salary multiplied by the number of
  years for which he has member service credit plus the difference between
  such  pension  and  the  pension that would be allowable to him for such
  service if he were age sixty.
    5. If the member shall have attained age fifty and has  been,  at  any
  time, continuously employed for twenty-five years or more the retirement
  allowance granted pursuant to this subdivision a shall consist of:
    (a)   An  annuity  of  equivalent  actuarial  value  to  the  member's
  accumulated contributions, and
    (b)  A  pension   which   is   the   actuarial   equivalent   of   the
  reserve-for-increased-take-home-pay to which he may be entitled, if any,
  and
    (c)  A pension, to begin immediately, which together with the annuity,
  shall equal the retirement allowance which  would  be  payable  had  the
  member  reached  age  sixty  at  the  time  of  discontinuance from such
  service.
    6. Time during which a member was:
    (a) Absent on leave without pay after January first, nineteen  hundred
  twenty-one, or
    (b) On a preferred eligible list pursuant to section eighty-one of the
  civil  service  law  or  former section thirty-one of such law and after
  such date, or
    (c)  Rendering  paid  or  unpaid  services  to  the  state  or  to   a
  participating   employer   prior  to  May  twentieth,  nineteen  hundred
  fifty-five, for not to exceed four months immediately prior to which and
  immediately subsequent to which he was in an employment on the basis  of
  which  he  contributed to the retirement system, shall not constitute an
  interruption of continuous employment. Such time, however, shall not  be
  counted or included in determining the length of his total service.
    b.  Persons  who  last became members of the New York state employees'
  retirement system on or after April eighth, nineteen hundred forty-three
  and who became members  of  the  policemen's  and  firemen's  retirement
  system  on or after April first, nineteen hundred sixty-seven or persons
  who became members of  the  latter  system  on  or  after  April  first,
  nineteen hundred sixty-seven, and who:
    1.  Are  discontinued from service while a member, through no fault or
  delinquency  on  his  part,  may  elect  to  receive   his   accumulated
  contributions  or  a  retirement allowance pursuant to the provisions of
  paragraph two of this subdivision b if:
    (a) He shall have completed twenty years of total service, and
    (b) During the six months immediately preceding  such  discontinuance,
  he  shall  have been in paid service continuously, regularly and without
  interruption.

    2. A retirement allowance granted pursuant to the provisions  of  this
  subdivision b shall consist of:
    (a)   An  annuity  of  equivalent  actuarial  value  to  the  member's
  accumulated contributions, and
    (b)  A  pension   which   is   the   actuarial   equivalent   of   the
  reserve-for-increased-take-home-pay to which he may be entitled, if any,
  and
    (c) A pension, to begin immediately, which shall be composed of one or
  more of the following parts:
    (1)  One  which is the actuarial equivalent, at his age at the time of
  such  discontinuance,  of  a  pension,  beginning  at  age   sixty,   of
  one-seventieth  of  his final average salary multiplied by the number of
  years for which he has prior service credit and credit  for  service  in
  war after world war I, if any, plus
    (2)  One  which is the actuarial equivalent, at his age at the time of
  such discontinuance, of one-one hundred fortieth of  his  final  average
  salary multiplied by the number of years for which he has member service
  credit, plus
    (3)  If  the  member  shall  have attained age fifty, one which equals
  fifty per centum of the difference between the pension  payable  to  him
  pursuant  to  items one and two of this subparagraph (c) and the pension
  that would be allowable to him were he age sixty.
    3. Application shall be made for  a  discontinued  service  retirement
  allowance  pursuant to this subdivision b in the same manner and subject
  to the same conditions  which  govern  applications  and  elections  for
  superannuation retirement allowances.