California Government Code

§ 7522.25

GOV § 7522.25 Effective Oct 4, 2013Div. 7 · Title 1 · Ch. 21 · Art. 4

Statute text

(a)Each retirement system that offers a defined benefit plan for safety members of the system shall use one or more of the defined benefit formulas prescribed by this section. A member may retire for service under any of the formulas in this section after five years of service and upon reaching 50 years of age.

(b)The Basic Safety Plan shall provide a pension at retirement for service equal to the percentage of the member’s final compensation set forth opposite the member’s age at retirement, taken to the preceding quarter year, in the following table, multiplied by the number of years of service in the system as a safety member. Age at Retirement Fraction 50 1.426 5014 1.447 5012 1.467 5034 1.488 51 1.508 5114 1.529 5112 1.549 5134 1.570 52 1.590 5214 1.611 5212 1.631 5234 1.652 53 1.672 5314 1.693 5312 1.713 5334 1.734 54 1.754 5414 1.775 5412 1.795 5434 1.816 55 1.836 5514 1.857 5512 1.877 5534 1.898 56 1.918 5614 1.939 5612 1.959 5634 1.980 57 and over 2.000

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Legislative history

Amended by Stats. 2013, Ch. 528, Sec. 5. (SB 13) Effective October 4, 2013.