Cal. Gov. Code § 20035.4

Current through the 2024 Legislative Session.
Section 20035.4 - Final compensation for bargaining unit 16 members who retire or die on or after July 1, 2003

Notwithstanding Sections 20035 and 20037, "final compensation," for the purpose of determining any pension or benefit with respect to a member who retires or dies on or after July 1, 2003, who was a member of State Bargaining Unit 16, and whose monthly salary range that was to be effective July 1, 2003, was reduced by 5 percent pursuant to a memorandum of understanding entered during the 2003-04 fiscal year, means the highest annual compensation the member would have earned as of July 1, 2003, if that 5-percent reduction had not occurred. This section shall apply only if the period during which the member's salary was reduced would have otherwise been included in determining his or her final compensation. The increased costs, if any, that may result from the application of the definition of "final compensation" provided in this section shall be paid by the employer in the same manner as other retirement benefits are funded.

Ca. Gov. Code § 20035.4

Amended by Stats 2004 ch 183 (AB 3082),s 159, eff. 1/1/2005
Added by Stats 2003 ch 615 (AB 375),s 5, eff. 1/1/2004.