* § 89-c. Retirement of members in New York state thruway authority\nservice.\n a. By the adoption, filing and approval of a resolution in the manner\nprovided by section thirty-one of this chapter, the New York state\nthruway authority may elect to make contributions to the pension\naccumulation fund for the purpose of providing guaranteed service\nretirement benefits pursuant to this section for members who are in its\nemploy at the time of their retirement. Such resolution shall specify\nthe effective date which shall be on or after the date of such filing\nfor the commencement of such guaranteed retirement benefits.\n b. As used in this section, the following words and phrases shall have\nthe following meanings unless a different meaning is plainly required by\nthe context:\n 1. "Authority." The New York state thruway authority.\n 2. "Authority employee." An employee of the New York state thruway\nauthority, who is such an employee immediately preceding the effective\ndate of his retirement or immediately preceding his discontinuance of\nservice as provided in paragraph (1) of subdivision e of this section;\nprovided, however, that:\n (1) he is an authority employee on the effective date provided in\nsubdivision a of this section; or,\n (2) he shall have rendered two or more years of service as an\nauthority employee after such effective date.\n c. (1) Any member who is or becomes an authority employee on or after\nthe effective date provided in subdivision a of this section may, by\nwritten notice duly acknowledged and filed with the comptroller on or\nbefore March thirty-first, nineteen hundred seventy, elect to remain a\nmember pursuant to the provisions of this section. Upon such election he\nshall be deemed to have accepted the service retirement and vesting\nprovisions of this section in lieu of the similar provisions otherwise\nprovided in this article.\n (2) Every such member shall be entitled to allowable service credit as\nprovided in section forty-one of this chapter, which shall be used in\ndetermining the benefits to be provided upon retirement under this\nsection.\n d. Any authority employee member may retire if he shall have attained\nthe age of fifty-five years or over upon compliance with the terms of\nsubdivision a of section seventy of this chapter. Any such member who\nattains age seventy shall be retired on the first day of the calendar\nmonth next succeeding such event, in accordance with the provisions of\nsubdivisions b and c of section seventy of this chapter. Upon such\nretirement, after the effective date specified in subdivision a of this\nsection and prior to April first, nineteen hundred seventy, he shall\nreceive a guaranteed service retirement benefit computed in accordance\nwith that one of the following paragraphs of this subdivision which is\napplicable to him.\n (a) If his total allowable service credit at the time of retirement is\nless than twenty-five years, his retirement benefit shall consist of:\n 1. An annuity which shall be the actuarial equivalent of his\naccumulated contributions at the time of his retirement.\n 2. For member service rendered on and after April first, nineteen\nhundred sixty and April first, nineteen hundred seventy, a pension\ncomputed on the basis of one-sixtieth of final average salary for each\nyear of such member service.\n 3. For member service rendered between April first, nineteen hundred\nthirty-eight and March thirty-first, nineteen hundred sixty, a pension\nwhich, together with the annuity which is the actuarial equivalent of\nthe member's accumulated contributions attributable to such period,\ncomputed on the basis of his rate of normal contribution, will provide a\nretirement allowance of one-sixtieth of final average salary for each\nyear of such member service.\n 4. For member service rendered prior to April first, nineteen hundred\nthirty-eight, a pension of one-one hundred twentieth of final average\nsalary for each year of such
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