§ 75-i. Improved career retirement plan for employees of participating
employers. a. A participating employer which has elected, or which
elects, pursuant to section thirty, thirty-one, or thirty-two of this
article to provide the benefits of the career retirement plan for its
employees as specified in section seventy-five-g of this article may
elect pursuant to section thirty-three of this article to reduce the
number of years of total service required for career retirement benefits
to twenty and have the fraction one-fiftieth of final average salary
used to calculate the entire benefit for all years of credited service
for such eligible members, provided, however, the maximum pension
payable pursuant to this section shall not exceed three-quarters of
final average salary. A member eligible for a vested retirement
allowance pursuant to the provisions of section seventy-six of this
chapter who separates from employment on or after April first, nineteen
hundred seventy with twenty or more years of total service, and who
would have been eligible to have his retirement allowance computed
pursuant to the provisions of this section had he at the time of
separation attained age fifty-five, shall at the time he becomes
eligible to receive the vested retirement allowance be entitled to have
such allowance computed in the manner prescribed by this section.

b. The benefits hereinabove provided shall be payable unless the
member would otherwise be entitled to a greater benefit under other
provisions of this chapter, in which event the greater benefit shall be
payable.

c. In the case of persons who last became members on or after July
first, nineteen hundred seventy-three, the provisions of this section
shall be applicable only to those retiring or separating in vested
status prior to July first, nineteen hundred seventy-four.