Section 375. Allowance on superannuation retirement

a. Except as otherwise
  provided by subdivisions b, c or d of this section, upon retirement  for
  superannuation  or  for any other cause after attainment of age sixty, a
  member shall receive a retirement allowance which shall consist of:
    1.  An  annuity  which  shall  be  the  actuarial  equivalent  of  his
  accumulated contributions at the time of his retirement and
    2.   A   pension   which   is   the   actuarial   equivalent   of  the
  reserve-for-increased-take-home-pay to which he may then be entitled, if
  any, and
    3. A pension of one-one hundred fortieth of his final average  salary,
  multiplied  by  the  number  of  years  for  which he has member service
  credit, plus
    4. A pension which equals 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.  This  part  shall  be
  granted  only  if the member has credit for one or more years of service
  as a member. This requirement of one or  more  years  of  service  as  a
  member  shall  be  subject  to  waiver  as  provided in subdivision e of
  section three hundred forty-one of this article.
    b.  Upon  retirement  for  superannuation  after  attainment  of   age
  fifty-five  and  before  attainment  of age sixty or for any other cause
  after attainment of age sixty, of a member who is  contributing  to  the
  retirement  system pursuant to section three hundred seventy-two of this
  article on the basis of retirement at age fifty-five, he shall receive a
  retirement allowance which shall consist of:
    1.  An  annuity  which  shall  be  the  actuarial  equivalent  of  his
  accumulated contributions at the time of his retirement, and
    2.   A   pension   which   is   the   actuarial   equivalent   of  the
  reserve-for-increased-take-home-pay to which he may then be entitled, if
  any, and
    3. A pension for the number of years for which he has  member  service
  credit, plus
    4.  A  pension  for the number of years for which he has prior service
  credit and credit for service in war after world war I. This part  shall
  be  granted  only  if  the  member  has  credit for one or more years of
  service as a member. This requirement of one or more years of service as
  a member shall be subject to waiver as  provided  in  subdivision  e  of
  section three hundred forty-one of this article.
  Each  such  pension  specified  in  paragraphs  three  and  four of this
  subdivision b shall be the actuarial equivalent, at  the  time  of  such
  member's retirement, of the pension to which he would have been entitled
  for  such  service,  had  he  attained  age  sixty  and  not  elected to
  contribute on the basis of retirement at age fifty-five.
    c. Upon retirement for superannuation on or after  attainment  of  age
  fifty-five  or  for  any other cause after attainment of age sixty, of a
  member who is contributing to the policemen's and  firemen's  retirement
  system  on the basis of retirement at age fifty-five pursuant to section
  three hundred seventy-one of this article, he shall receive a retirement
  allowance which shall consist of:
    1.  An  annuity  which  shall  be  the  actuarial  equivalent  of  his
  accumulated contributions at the time of his retirement, and
    2.   A   pension   which   is   the   actuarial   equivalent   of  the
  reserve-for-increased-take-home-pay to which he may then be entitled, if
  any, and
    3. A pension which shall consist of:
    (a) A pension of one-one hundred twentieth  of  final  average  salary
  multiplied by the number of years for which he has member service credit
  for service rendered prior to the attainment of age fifty-five, and

    (b)  A  pension  of  one-one  hundred fortieth of final average salary
  multiplied by the number of years for which he has member service credit
  for service rendered after the attainment of age fifty-five, and
    (c)  A  pension  of one-sixtieth of 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  for  service  rendered  prior  to  the
  attainment of age fifty-five, and
    (d)  A pension of one-seventieth of 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  for  service  rendered  after  the
  attainment of age fifty-five.
  Subparagraphs  (c)  and  (d)  of this paragraph three shall be available
  only if the member has credit for one or more  years  of  service  as  a
  member.  This  requirement  of  one or more years of service as a member
  shall be subject to waiver as provided in subdivision e of section three
  hundred forty-one of this article.
    d. Upon retirement for superannuation on or after  attainment  of  age
  fifty-five  or  for  any other cause after attainment of age sixty, of a
  member who is contributing to the policemen's and  firemen's  retirement
  system  on the basis of retirement at age fifty-five pursuant to section
  three  hundred  seventy-one-a  of  this  article,  he  shall  receive  a
  retirement allowance which shall consist of:
    1.  An  annuity  which  shall  be  the  actuarial  equivalent  of  his
  accumulated contributions at the time of his retirement, and
    2.  A   pension   which   is   the   actuarial   equivalent   of   the
  reserve-for-increased-take-home-pay to which he may then be entitled, if
  any, and
    3. A pension which shall consist of:
    (a)  A  pension  of  one-one hundred twentieth of final average salary
  multiplied by the number of  years  for  which  he  has  member  service
  credit, and
    (b)  A  pension  of one-sixtieth of 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.
  Subparagraph (b) of this paragraph three shall be available only if  the
  member  has  credit  for  one or more years of service as a member. This
  requirement of one or more years of service as a member shall be subject
  to waiver  as  provided  in  subdivision  e  of  section  three  hundred
  forty-one of this article.