California Government Code 21380 – If a state safety member retires for service before attaining age 55, …
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If a state safety member retires for service before attaining age 55, or, in the case of the member who continues subject to the current and prior service pension provision for retirement of warden and forestry members at age 60, his or her prior and current service pensions shall be reduced to that amount that the value of the pensions as deferred to age 55, or age 60, respectively, will purchase at the actual age of retirement on the basis of the mortality tables and actuarial interest rate in effect on December 1, 1970, under this system with respect to those members.
(Repealed and added by Stats. 1995, Ch. 379, Sec. 2. Effective January 1, 1996.)
Terms Used In California Government Code 21380
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18