California § 21353.5 - The combined current and prior service pensions for a state miscellaneous or stat

§ 21353.5. The combined current and prior service pensions for a state miscellaneous or stat

(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 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.