Section 21353.5.  


Latest version.
  • 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. 88, Sec. 64. Effective June 30, 1998. See identical section added by Stats. 1998, Ch. 91, and the conditional amendment by Stats. 1999, Ch. 555.)