New York City Police Pension Fund
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Tier 3 - Service Retirement

Mandatory Retirement
A member must separate from uniformed service upon turning 62 years old. The separation must occur regardless of whether the member is eligible for a Normal Service Retirement. Members who must retire for mandatory retirement and do not have 20 years of service are not eligible for the VSF.

Early Service Retirement
A member is eligible for Early Service Retirement after the completion of 20 years of uniformed service, or the attainment of age 62.

An Early Service Retirement pension benefit is as follows:
2.1% of the final average salary  x years of credited service
(for first 20 years)
-plus-
1/3% of the final average salary for each month in excess of 20 years
[total benefit not in excess of 50% of the final average salary]
-entire benefit above less-
50% of primary Social Security Retirement benefit commencing at 62

Normal Service Retirement
A member is eligible to retire for Service without reduction upon the completion of 22 years of uniformed service.

The Normal Service Retirement benefit is:
50% of the final average salary
-less-
50% of primary Social Security Retirement benefit commencing at 62