Section 31-31.5-405 - Hybrid component benefits(1) In calculating the normal retirement pension for a member who has years of service credit in the hybrid component, the benefit shall be: (a) A multiplier, which the board shall establish by adjusting the funding status of the predecessor statewide hybrid plan to equal the funding status of the predecessor statewide defined benefit plan using valuations as of December 31, 2021, and based on the recommendations made by the plan's actuary, multiplied by the years of service credit earned or purchased in the statewide hybrid plan prior to January 1, 2023, multiplied by the average of the member's highest three years' base salary; plus(b) One and one-half percent multiplied by the years of service credit earned or purchased in the hybrid component on or after January 1, 2023, multiplied by the average of the member's highest three years' base salary.Added by 2022 Ch. 61,§1, eff. 8/10/2022. 2022 Ch. 61, was passed without a safety clause. See Colo. Const. art. V, § 1(3).