Current through the 2024 Legislative Session.
Section 24203.5 - Computation of final compensation(a) The percentage of final compensation used to compute the allowance pursuant to Section 24202.5, 24203, 24205, 24209, 24209.3, 24210, 24211, 24212, or 24213 of a member retiring on or after January 1, 1999, who has 30 or more years of credited service, shall be increased by two-tenths of 1 percentage point, provided that the sum of the percentage of final compensation used to compute the allowance, including any adjustments for retiring before the normal retirement age, and the additional percentage provided by this section does not exceed 2.40 percent.(b) For purposes of establishing eligibility for the increased allowance pursuant to this section only, credited service shall exclude service credited pursuant to the following: (3) Section 22717, except as provided in subdivision (c) of Section 22121.(c) For purposes of establishing eligibility for the increased allowance pursuant to this section only, credited service shall include credited service that a court has ordered be awarded to a nonmember spouse pursuant to Section 22652. A nonmember spouse shall also be eligible for the increased allowance pursuant to this section if the member had 30 or more years of credited service on the date the parties separated, as established in the judgment or court order pursuant to Section 22652.(d) Nonqualified service credit for which contributions pursuant to Section 22826 were made in a lump sum on or after January 1, 2000, or for which the first installment was made on or after January 1, 2000, may not be included in determining the eligibility for an increased allowance pursuant to this section.Amended by Stats 2014 ch 755 (SB 1220),s 31, eff. 1/1/2015.Amended by Stats 2013 ch 558 (AB 1379),s 24, eff. 1/1/2014.Amended by Stats 2004 ch 911 (SB 102),s 4, eff. 1/1/2005Amended by Stats 2003 ch 313 (AB 1207),s 6, eff. 1/1/2004.Amended by Stats 2001 ch 803 (SB 501), s 13, eff. 1/1/2002.Previously Amended October 10, 1999 (Bill Number: SB 1074) (Chapter 939).