Cal. Gov. Code § 21368

Current through the 2024 Legislative Session.

Section 21368 - Combined current and prior service pensions for local safety member employees of contracting agency

The combined current and prior service pensions for a local safety member who is an employee of a contracting agency that is subject to this section, is an annual pension that when added to the service retirement annuity that is derived from the accumulated normal contributions of the member shall equal the sum of the following:

(a) A temporary annuity based on age at retirement and length of service computed according to the following formula:

(1) 0.50 times the product of his or her age at retirement and his or her years of credited prior and current service not in excess of 20 years, plus

(2) 0.40 times the product of his or her age at retirement and his or her years of credited prior and current service in excess of 20 years.

(b) The percentage of final compensation set forth opposite his or her age at retirement in the following table multiplied by the number of years of credited current and prior service as a safety member in the employ of all contracting agencies subject to this section at the time of his or her retirement:

If retirement occurs at age:	The percent for each year of credited service is:
50 ........................	0.619
501/4 ........................	0.629
501/2 ........................	0.640
503/4 ........................	0.650
51 ........................	0.661
511/4 ........................	0.673
511/2 ........................	0.684
513/4 ........................	0.695
52 ........................	0.708
521/4 ........................	0.719
521/2 ........................	0.731
523/4 ........................	0.744
53 ........................	0.756
531/4 ........................	0.769
531/2 ........................	0.783
533/4 ........................	0.796
54 ........................	0.810
541/4 ........................	0.824
541/2 ........................	0.839
543/4 ........................	0.853
55 ........................	0.868
551/4 ........................	0.884
551/2 ........................	0.900
553/4 ........................	0.916
56 ........................	0.931
561/4 ........................	0.949
561/2 ........................	0.966
563/4 ........................	0.983
57 ........................	1.001
571/4 ........................	1.020
571/2 ........................	1.039
573/4 ........................	1.058
58 ........................	1.076
581/4 ........................	1.098
581/2 ........................	1.118
583/4 ........................	1.138
59 ........................	1.159
591/4 ........................	1.183
591/2 ........................	1.205
593/4 ........................	1.228
60 ........................	1.250
601/4 ........................	1.275
601/2 ........................	1.300
603/4 ........................	1.325
61 ........................	1.350
611/4 ........................	1.375
611/2 ........................	1.400
613/4 ........................	1.425
62 ........................	1.450
621/4 ........................	1.475
621/2 ........................	1.500
623/4 ........................	1.525
63 ........................	1.550
631/4 ........................	1.575
631/2 ........................	1.600
633/4 ........................	1.625
64 ........................	1.650
641/4 ........................	1.675
641/2 ........................	1.700
643/4 ........................	1.725
65 ........................	1.750

The temporary annuity under subdivision (a) of this section shall not be subject to the optional settlements under Article 6 (commencing with Section 21450) and shall be payable monthly until the retired member attains or would have attained age 65. Should his or her death occur prior to age 65, the commuted value of any remaining installments shall be paid to his or her designated beneficiary in the manner provided in former Section 21332.5, as added by Chapter 1264 of the Statutes of 1953, for payment of death benefits under optional settlement one.

The agency's liability for prior service shall be in the same proportion to the total reserves required as the years of credited prior service bear to the total years of credited service. The agency's liability for current service shall consist of the remainder of the total reserves required after deducting the liability for prior service and the accumulated normal contributions of the member.

This section shall apply only to a contracting agency that elected prior to October 1, 1965, by express provision of its contract or amendment thereto to be subject hereto.

Ca. Gov. Code § 21368

Repealed and added by Stats. 1995, Ch. 379, Sec. 2. Effective January 1, 1996.