California § 31676.01 - This section shall be operative in a county at such time or times as may be mutua

§ 31676.01. This section shall be operative in a county at such time or times as may be mutua

This section shall be operative in a county at such time or times as may be mutually agreed to in memoranda of understanding executed by the employer and employee representatives if the board of supervisors adopts, by majority vote, a resolution declaring that the section shall be operative in the county. Notwithstanding any other provisions of this chapter, the current service pension, or the current service pension combined with the prior service pension, is an additional pension for members purchased by the contributions of the county or district sufficient, when added to the service retirement annuity, to equal the fraction of one-ninetieth 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 service or years of current and prior service with which the member is entitled to be credited at retirement, but in no event shall the total retirement allowance exceed the member’s final compensation. Age of Retirement Fraction 50 .7091 50¼ .7183 50½ .7274 50¾ .7366 51 .7457 51¼ .7547 51½ .7637 51¾ .7726 52 .7816 52¼ .7907 52½ .7999 52¾ .8090 53 .8181 53¼ .8275 53½ .8369 53¾ .8462 54 .8556 54¼ .8656 54½ .8755 54¾ .8855 55 .8954 55¼ .9061 55½ .9168 55¾ .9275 56 .9382 56¼ .9498 56½ .9614 56¾ .9730 57 .9846 57¼ .9972 57½ 1.0098 57¾ 1.0224 58 1.0350 58¼ 1.0487 58½ 1.0625 58¾ 1.0762 59 1.0899 59¼ 1.1049 59½ 1.1199 59¾ 1.1349 60 1.1500 60¼ 1.1611 60½ 1.1723 60¾ 1.1835 61 1.1947 61¼ 1.2097 61½ 1.2247 61¾ 1.2398 62 1.2548 62¼ 1.2707 62½ 1.2867 62¾ 1.3026 63 1.3186 63¼ 1.3355 63½ 1.3525 63¾ 1.3695 64 1.3865 64¼ 1.4047 64½ 1.4229 64¾ 1.4411 65 and over 1.4593 The fractions herein set forth shall be used until adjusted by each board for its retirement system in accordance with the interest and mortality tables adopted by each such board with respect to its retirement system. In any county operating under this section any limitation in any provisions of this chapter upon the amount of compensation used for computing rates of contributions shall be disregarded.