(a) The combined current and prior service pensions for a state miscellaneous or state industrial member who has elected to be subject to the service retirement formula prescribed in this section, as provided by Sections 21071 and 21073.5, is a pension derived from the contributions of the employer sufficient, when added to the service retirement annuity that is derived from the accumulated normal contributions of the member at the date of retirement, to equal the fraction of one-fiftieth of the member’s final compensation set forth opposite the member’s age at retirement, taken to the preceding completed quarter year, in the following table, multiplied by the number of years of current and prior service, except service in a category of membership other than that credited under this section, with which the member is entitled to be credited at retirement:

Age of

Terms Used In California Government Code 21353.5 v3

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • compensation: means the remuneration paid out of funds controlled by the employer in payment for the member's services performed during normal working hours or for time during which the member is excused from work because of any of the following:

    California Government Code 20630

  • State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18

Retirement

Fraction

50  ……………………

 .546

50¼  ……………………

 .554

50½  ……………………

 .562

50¾  ……………………

 .570

51  ……………………

 .578

51¼  ……………………

 .586

51½  ……………………

 .595

51¾  ……………………

 .603

52  ……………………

 .612

52¼  ……………………

 .621

52½  ……………………

 .630

52¾  ……………………

 .639

53  ……………………

 .648

53¼  ……………………

 .658

53½  ……………………

 .668

53¾  ……………………

 .678

54  ……………………

 .688

54¼  ……………………

 .698

54½  ……………………

 .709

54¾  ……………………

 .719

55  ……………………

 .730

55¼  ……………………

 .741

55½  ……………………

 .753

55¾  ……………………

 .764

56  ……………………

 .776

56¼  ……………………

 .788

56½  ……………………

 .800

56¾  ……………………

 .813

57  ……………………

 .825

57¼  ……………………

 .839

57½  ……………………

 .852

57¾  ……………………

 .865

58  ……………………

 .879

58¼  ……………………

 .893

58½  ……………………

 .908

58¾  ……………………

 .923

59  ……………………

 .937

59¼  ……………………

 .953

59½  ……………………

 .969

59¾  ……………………

 .985

60 and over  ……………………

1.000

(b) The fractions specified in the above table shall be reduced by one-third as applied to that part of final compensation that does not exceed four hundred dollars ($400) per month for all service of a member any of whose service has been included in the federal system.

(c) The retirement allowance provided by this section, which shall be effective for members who retire on and after April 1, 1998, is granted subject to future reduction prior to a member’s retirement, by offset of federal system benefits or otherwise, as the Legislature may from time to time deem appropriate because of changes in the federal system benefits.

(d) This section shall become inoperative on January 1, 2000.

(e) The amendments to this section enacted during the first year of the 1999-2000 Regular Session are subject to the limitations set forth in Section 21251.13.

(Amended (as added by Stats. 1998, Ch. 91) by Stats. 1999, Ch. 555, Sec. 31. Effective January 1, 2000. Pursuant to subd. (e), amendment is conditionally operative as prescribed in Section 21251.13. Section inoperative January 1, 2000, by subd. (d).)

  Previous section
Next section  
 Article 4 Contents