Cal. Gov. Code § 20552

Current through the 2023 Legislative Session.
Section 20552 - Age of retirement fraction 55

The combined current and prior service pensions for a local miscellaneous member whose service is subject to this article is a pension derived from the contributions of the employee which, when added to the service retirement annuity that is derived from the accumulated normal contributions of the member at the date of retirement shall equal the fraction of one-hundredth 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 member's number of years of local miscellaneous service subject to this article:

Age at

Retirement

Fraction

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

.5000

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

.5250

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

.5500

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

.5750

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

.6000

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

.6250

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

.6500

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

.6750

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

.7000

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

.7250

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

.7500

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

.7750

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

.8000

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

.8250

581/2 ........................

.8500

583/4 ........................

.8750

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

.9000

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

.9250

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

.9500

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

.9750

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

1.0000

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

1.0250

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

1.0500

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

1.0750

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

1.1000

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

1.1250

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

1.1500

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

1.1750

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

1.2000

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

1.2250

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

1.2500

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

1.2750

63 ........................

1.3000

631/4 ........................

1.3250

631/2 ........................

1.3500

633/4 ........................

1.3750

64 ........................

1.4000

641/4 ........................

1.4250

641/2 ........................

1.4500

643/4 ........................

1.4750

65 ........................

1.5000

Notwithstanding any other provision of this part, the retirement allowance formula for any member subject to this section who has 35 years of credited service and attains age 55 years, is the fraction of final compensation set forth above at age 65 multiplied by the current and prior service subject to this section that the member is credited with at retirement.

A local miscellaneous member subject to this section shall be retired for service upon his or her written application to the board if he or she has attained age 55 and is credited with five years of state service.

Ca. Gov. Code § 20552

Added by Stats. 1995, Ch. 379, Sec. 2. Effective January 1, 1996.