The combined current and prior service pensions for a local miscellaneous member whose service 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 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 local miscellaneous service subject to this article, with which the member is entitled to be credited at retirement:
Age of | |
Retirement | Fraction |
50 ........................ | .688 |
50¼ ........................ | .698 |
50½ ........................ | .709 |
50¾ ........................ | .719 |
51 ........................ | .730 |
51¼ ........................ | .741 |
51½ ........................ | .753 |
51¾ ........................ | .764 |
52 ........................ | .776 |
52¼ ........................ | .788 |
52½ ........................ | .800 |
52¾ ........................ | .813 |
53 ........................ | .825 |
53¼ ........................ | .839 |
53½ ........................ | .852 |
53¾ ........................ | .865 |
54 ........................ | .879 |
54¼ ........................ | .893 |
54½ ........................ | .908 |
54¾ ........................ | .923 |
55 ........................ | .937 |
55¼ ........................ | .953 |
55½ ........................ | .969 |
55¾ ........................ | .985 |
56 ........................ | 1.000 |
56¼ ........................ | 1.017 |
56½ ........................ | 1.034 |
56¾ ........................ | 1.050 |
57 ........................ | 1.067 |
57¼ ........................ | 1.084 |
57½ ........................ | 1.101 |
57¾ ........................ | 1.119 |
58 ........................ | 1.136 |
58¼ ........................ | 1.154 |
58½ ........................ | 1.173 |
58¾ ........................ | 1.191 |
59 and over ........................ | 1.209 |
The fraction 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 that has also been included in the federal system.
A local miscellaneous member subject to this section shall be retired for service upon his or her written applications to the board if he or she has attained age 50 and is credited with five years of state service.
(Added by Stats. 1995, Ch. 379, Sec. 2. Effective January 1, 1996.)