Section 579.24 - Final Compensation Calculations for Service Accrued Under PEPRA and the PERL(a) Retirement benefit provisions under PEPRA, including but not limited to Government Code sections 7522.10, 7522.32, and 7522.34, require retirement benefits for new members to be calculated differently from retirement benefits for classic members under the PERL. Therefore, it is possible for a member to separately accrue service credit as a new member for one period of service and as a classic member for another period of service,(b) Where a member has accrued service credit as a classic member and separately accrues service credit as a new member, each with a period of service resulting in a different final compensation amount, CalPERS will apply one final compensation amount for the service credit accrued as a classic member, and a second final compensation amount for the service credit accrued as a new member. CalPERS will then use both figures to calculate the total retirement benefit owed.Cal. Code Regs. Tit. 2, § 579.24
1. New section filed 8-12-2013; operative 8-12-2013 pursuant to Government Code section 11343.4(b)(3) (Register 2013, No. 33). Note: Authority cited: Section 20121, Government Code. Reference: Sections 7522.10, 7522.32 and 7522.34, Government Code.
1. New section filed 8-12-2013; operative 8-12-2013 pursuant to Government Code section 11343.4(b)(3) (Register 2013, No. 33).