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.