California Government Code

§ 21353

GOV § 21353 Effective Jan 1, 2013Div. 5 · Title 2 · Part 3 · Ch. 13 · Art. 4

Statute text

(a)The combined current and prior service pensions for a local miscellaneous member, a school member, a state miscellaneous or state industrial member, or a university member 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 of state or state industrial member, local miscellaneous member, school member, or a university member, or service covered under this First Tier retirement formula, with which the member is entitled to be credited at retirement: Age of 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 1.000 60¼ 1.017 60½ 1.034 60¾ 1.050 61 1.067 61¼ 1.084 61½ 1.101 61¾ 1.119 62 1.136 62¼ 1.154 62½ 1.173 62¾ 1.191 63 and over 1.209

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Legislative history

Amended by Stats. 2012, Ch. 665, Sec. 133. (SB 1308) Effective January 1, 2013.