Cal. Gov. Code § 31676.18

Current through the 2024 Legislative Session.
Section 31676.18 - 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 ........................

1.0000

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

1.0125

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

1.0250

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

1.0375

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

1.0500

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

1.0625

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

1.0750

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

1.0875

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

1.1000

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

1.1125

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

1.1250

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

1.1375

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

1.1500

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

1.1625

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

1.1750

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

1.1875

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

1.2000

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

1.2125

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

1.2250

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

1.2375

55 and over ........................

1.2500

In any county operating under this section, any limitations 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.

This section shall apply to members employed by the county on or after the date this section becomes operative in the county.

Ca. Gov. Code § 31676.18

Added by Stats 2001 ch 782 (AB 616), s 8, eff. 1/1/2002.