The combined current and prior service pensions for a local miscellaneous member whose service is subject to this article is a pension derived from the contributions of the employee which, when added to the service retirement annuity that is derived from the accumulated normal contributions of the member at the date of retirement shall equal the fraction of one-hundredth 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 member’s number of years of local miscellaneous service subject to this article:
Age at | |
Retirement | Fraction |
55 ........................ | .5000 |
55¼ ........................ | .5250 |
55½ ........................ | .5500 |
55¾ ........................ | .5750 |
56 ........................ | .6000 |
56¼ ........................ | .6250 |
56½ ........................ | .6500 |
56¾ ........................ | .6750 |
57 ........................ | .7000 |
57¼ ........................ | .7250 |
57½ ........................ | .7500 |
57¾ ........................ | .7750 |
58 ........................ | .8000 |
58¼ ........................ | .8250 |
58½ ........................ | .8500 |
58¾ ........................ | .8750 |
59 ........................ | .9000 |
59¼ ........................ | .9250 |
59½ ........................ | .9500 |
59¾ ........................ | .9750 |
60 ........................ | 1.0000 |
60¼ ........................ | 1.0250 |
60½ ........................ | 1.0500 |
60¾ ........................ | 1.0750 |
61 ........................ | 1.1000 |
61¼ ........................ | 1.1250 |
61½ ........................ | 1.1500 |
61¾ ........................ | 1.1750 |
62 ........................ | 1.2000 |
62¼ ........................ | 1.2250 |
62½ ........................ | 1.2500 |
62¾ ........................ | 1.2750 |
63 ........................ | 1.3000 |
63¼ ........................ | 1.3250 |
63½ ........................ | 1.3500 |
63¾ ........................ | 1.3750 |
64 ........................ | 1.4000 |
64¼ ........................ | 1.4250 |
64½ ........................ | 1.4500 |
64¾ ........................ | 1.4750 |
65 ........................ | 1.5000 |
Notwithstanding any other provision of this part, the retirement allowance formula for any member subject to this section who has 35 years of credited service and attains age 55 years, is the fraction of final compensation set forth above at age 65 multiplied by the current and prior service subject to this section that the member is credited with at retirement.
A local miscellaneous member subject to this section shall be retired for service upon his or her written application to the board if he or she has attained age 55 and is credited with five years of state service.
(Added by Stats. 1995, Ch. 379, Sec. 2. Effective January 1, 1996.)