Cal. Gov. Code § 31676.16

Current through the 2024 Legislative Session.
Section 31676.16 - Current service pension or current service pension combined with prior service pension

This section may be made applicable in any county on the first day of the month after the board of supervisors of the county adopts, by majority vote, a resolution providing that this section shall become applicable in the county. 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 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 the member's 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 member's final compensation.

Age at Retirement

Fraction

50 ........................

0.713

501/4 ........................

0.725

501/2 ........................

0.737

503/4................

0.749

51 ........................

0.761

511/4 ........................

0.775

511/2 ........................

0.788

513/4................

0.801

52 ........................

0.814

521/4 ........................

0.828

521/2 ........................

0.843

523/4................

0.857

53 ........................

0.871

531/4 ........................

0.886

531/2 ........................

0.902

533/4................

0.917

54 ........................

0.933

541/4 ........................

0.950

541/2 ........................

0.966

543/4................

0.983

55 ........................

1.000

551/4 ........................

1.007

551/2 ........................

1.013

553/4................

1.020

56 ........................

1.026

561/4 ........................

1.033

561/2 ........................

1.039

563/4................

1.046

57 ........................

1.052

571/4 ........................

1.059

571/2 ........................

1.065

573/4................

1.072

58 ........................

1.078

581/4 ........................

1.085

58 1/2 ........................

1.091

58 3/4................

1.098

59 ........................

1.105

591/4 ........................

1.111

591/2 ........................

1.118

593/4................

1.124

60 ........................

1.131

601/4 ........................

1.137

601/2 ........................

1.144

603/4................

1.150

61 ........................

1.157

611/4 ........................

1.163

611/2 ........................

1.170

613/4................

1.176

62 ........................

1.183

621/4 ........................

1.189

621/2 ........................

1.196

623/4................

1.202

63 and over ........................

1.209

The fractions 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 each board with respect to its retirement system.

In any county operating under this section any limitation in any provisions of this chapter upon the amount of compensation used for computing rates of contributions shall be disregarded.

Wherever in this chapter reference is made to survivorship benefits and rights under Section 31676.1, the same shall apply to this section.

Ca. Gov. Code § 31676.16

Added by Stats 2000 ch 882 (AB 448), s 3, eff. 1/1/2001.