Cal. Gov. Code § 31664

Current through the 2024 Legislative Session.

Section 31664 - Current service pension or current service pension combined with prior service pension

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 safety 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 his or her 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 limitation of the safety member's final compensation as set forth in Section 31676.1 as it now reads or may hereafter be amended to read:

Age at retirement	Fraction
41 ........................	.6258
411/4 ........................	.6350
411/2 ........................	.6442
413/4................	.6533
42 ........................	.6625
421/4 ........................	.6720
421/2 ........................	.6814
423/4................	.6909
43 ........................	.7004
431/4 ........................	.7102
431/2 ........................	.7200
433/4................	.7299
44 ........................	.7397
441/4 ........................	.7499
441/2 ........................	.7601
443/4................	.7703
45 ........................	.7805
451/4 ........................	.7910
451/2 ........................	.8016
453/4................	.8121
46 ........................	.8226
461/4 ........................	.8339
461/2 ........................	.8452
463/4................	.8566
47 ........................	.8678
471/4 ........................	.8780
471/2 ........................	.8882
473/4................	.8983
48 ........................	.9085
481/4 ........................	.9194
481/2 ........................	.9304
483/4................	.9413
49 ........................	.9522
491/4 ........................	.9641
491/2 ........................	.9761
493/4................	.9880
50 ........................	1.0000
501/4 ........................	1.0130
501/2 ........................	1.0259
503/4................	1.0387
51 ........................	1.0516
511/4 ........................	1.0656
511/2 ........................	1.0796
513/4................	1.0937
52 ........................	1.1078
521/4 ........................	1.1231
521/2 ........................	1.1384
523/4................	1.1538
53 ........................	1.1692
531/4 ........................	1.1859
531/2 ........................	1.2028
533/4................	1.2195
54 ........................	1.2366
541/4 ........................	1.2547
541/2 ........................	1.2730
543/4................	1.2915
55 and over ........................	1.3099

The fraction herein set forth shall be used until adjusted by each board for its retirement system in accordance with the interest and mortality tables adopted by that board.

Contributions shall not be made by safety members having credit for 30 years of continuous service.

Ca. Gov. Code § 31664

Amended by Stats 2001 ch 32 (AB 1682), s 1, eff. 1/1/2002.