California § 21362 - The current service pension for patrol members and the combined current and prior

§ 21362. The current service pension for patrol members and the combined current and prior

(a) The current service pension for patrol members and the combined current and prior service pensions for local safety members with respect to local safety service rendered to a contracting agency that is subject to this section 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 patrol member or local safety member at the date of his or her retirement to equal the fraction of one-fiftieth of his or her final compensation set forth opposite his or her age at retirement taken to the preceding completed quarter year, in the following table, multiplied by the number of years of patrol service and local safety service subject to this section with which he or she is credited at retirement: Age at retirement Fraction 50 1.0000 50¼ 1.0175 50½ 1.0350 50¾ 1.0525 51 1.0700 51¼ 1.0875 51½ 1.1050 51¾ 1.1225 52 1.1400 52¼ 1.1575 52½ 1.1750 52¾ 1.1925 53 1.2100 53¼ 1.2275 53½ 1.2450 53¾ 1.2625 54 1.2800 54¼ 1.2975 54½ 1.3150 54¾ 1.3325 55 and over 1.3500 (b) (1) Except as otherwise provided in this subdivision, the current service pension and the combined current and prior service pensions under this section for all service to all employers shall not exceed an amount that, when added to the service retirement annuity related to that service, equals 75 percent of final compensation. (2) For state members, with respect to service for all state employers under this section, the benefit shall not exceed: (A) Eighty percent of final compensation for state members who retire on or after January 1, 1995, and prior to January 1, 1999. (B) Eighty-five percent of final compensation for state members who retire on or after January 1, 1999, and prior to January 1, 2000. (C) Ninety percent of final compensation for state members who retire on or after January 1, 2000. (3) For local safety members who retire on or after January 1, 2000, the benefit shall not exceed 85 percent of final compensation. (4) If the pension relates to service to more than one employer and would otherwise exceed that maximum, the pension payable with respect to each employer shall be reduced in the same proportion as the allowance based on service to that employer bears to the total allowance computed as though there were no limit, so that the total of the pensions shall equal the maximum. Where a state or local member retiring on or after January 1, 1995, has service under this section with both state and local agency employers, the higher maximum shall apply and the additional benefit shall be funded by increasing the member’s pension payable with respect to the employer for whom the member performed the service subject to the higher maximum. (c) This section shall not apply to any contracting agency, unless and until the agency elects to be subject to the provisions of this section by amendment to its contract made in the manner prescribed for approval of contracts or, in the case of contracts made after the date this section is operative, by express provision in the contract making the contracting agency subject to the provisions of this section. (d) This section shall supersede Section 21363, 21366, 21368, 21369, or 21370, whichever is then applicable, with respect to patrol and local safety members who retire after the date this section becomes applicable to their respective employers. (e) This section shall not apply to state safety or state peace officer/firefighter members. (f) With respect to patrol members, this section shall only apply to patrol members who are not employed by the state on or after January 1, 2000. (g) The Legislature reserves, with respect to any member subject to this section, the right to provide for the adjustment of industrial disability retirement allowances because of earnings of a retired person and modification of the conditions and qualifications required for retirement for disability as it may find appropriate because of the earlier ages of service retirement made possible by the benefits under this section.