 |
California Law (Last Updated: March 4, 2014) |
 |
Government Code - GOV |
|
Title 3. GOVERNMENT OF COUNTIES |
|
Division 4. EMPLOYEES |
|
Part 3. RETIREMENT SYSTEMS |
|
Chapter 3. County Employees Retirement Law of 1937 |
|
ARTICLE 8. Retirement for Service |
Section 31676.18.
-
This section may be made applicable in any county on the first day of the month after the board of supervisors of the county adopts, by majority vote, a resolution providing that this section shall become applicable 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-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 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 at
RetirementFraction
50 ........................
1.0000
50¼ ........................
1.0125
50½ ........................
1.0250
50¾ ........................
1.0375
51 ........................
1.0500
51¼ ........................
1.0625
51½ ........................
1.0750
51¾ ........................
1.0875
52 ........................
1.1000
52¼ ........................
1.1125
52½ ........................
1.1250
52¾ ........................
1.1375
53 ........................
1.1500
53¼ ........................
1.1625
53½ ........................
1.1750
53¾ ........................
1.1875
54 ........................
1.2000
54¼ ........................
1.2125
54½ ........................
1.2250
54¾ ........................
1.2375
55 and over ........................
1.2500
In any county operating under this section, any limitations in any provisions of this chapter upon the amount of compensation used for computing rates of contributions shall be disregarded.
Wherever in this chapter reference is made to survivorship benefits and rights under Section 31676.1, the same shall apply to this section.
This section shall apply to members employed by the county on or after the date this section becomes operative in the county.