Section 21354.  


Latest version.
  • The combined current and prior service pensions for a local miscellaneous member is a pension derived from the contribution 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 of local miscellaneous member with which the member is entitled to be credited at retirement:

    Age of Retirement

    Fraction

    50 ........................  

    0.713

    50¼  ........................

    0.725

    50½  ........................

    0.737

    50¾  ........................

    0.749

    51  ........................

    0.761

    51¼  ........................

    0.775

    51½  ........................

    0.788

    51¾  ........................

    0.801

    52  ........................

    0.814

    52¼  ........................

    0.828

    52½  ........................

    0.843

    52¾  ........................

    0.857

    53  ........................

    0.871

    53¼  ........................

    0.886

    53½  ........................

    0.902

    53¾  ........................

    0.917

    54  ........................

    0.933

    54¼  ........................

    0.950

    54½  ........................

    0.966

    54¾  ........................

    0.983

    55  ........................

    1.000

    55¼  ........................

    1.007

    55½  ........................

    1.013

    55¾  ........................

    1.020

    56  ........................

    1.026

    56¼  ........................

    1.033

    56½  ........................

    1.039

    56¾  ........................

    1.046

    57  ........................

    1.052

    57¼  ........................

    1.059

    57½  ........................

    1.065

    57¾  ........................

    1.072

    58  ........................

    1.078

    58¼  ........................

    1.085

    58½  ........................

    1.091

    58¾  ........................

    1.098

    59  ........................

    1.105

    59¼  ........................

    1.111

    59½  ........................

    1.118

    59¾  ........................

    1.124

    60  ........................

    1.131

    60¼  ........................

    1.137

    60½  ........................

    1.144

    60¾  ........................

    1.150

    61  ........................

    1.157

    61¼  ........................

    1.163

    61½  ........................

    1.170

    61¾  ........................

    1.176

    62  ........................

    1.183

    62¼  ........................

    1.189

    62½  ........................

    1.196

    62¾  ........................

    1.202

    63  ........................

    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 services of a member any of whose service has been included in the federal system. This reduction shall not apply to a member employed by a contracting agency that enters into a contract after July 1, 1971, and who elects not to be subject to this paragraph or with respect to service rendered after the termination of coverage under the federal system with respect to the coverage group to which the member belongs.

    This section shall supersede Section 21353 with respect to all local miscellaneous members who retire after the date this section becomes applicable to their respective employers.

    This section shall not apply to a contracting agency nor its employees until the contracting agency elects to make all local miscellaneous members subject to it by amendment to its contract made in the manner prescribed for approval of contracts or in the case of a new contract, by express provision of the contract. The operative date of this section with respect to a local miscellaneous member shall be the effective date of the amendment to his or her employer's contract electing to be subject to this section.

(Added by Stats. 1995, Ch. 379, Sec. 2. Effective January 1, 1996.)