The combined current and prior service pensions for a state miscellaneous or 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 |
The fractions specified in the above table shall be reduced by one-third as applied to that part of final compensation which 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.
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 such federal system benefits.
(Added by Stats. 1998, Ch. 91, Sec. 64. Effective July 3, 1998. Superseded on operative date of amendment by Stats. 1999, Ch. 555.)