A.The annual compensation of each member taken into account for purposes of the plan shall not exceed the following:
1.Beginning January 1, 1996 through December 31, 2001, $150,000.
2.Except for members hired on or after July 1, 2018, beginning January 1, 2002, $200,000. The board shall adjust the $200,000 annual compensation limit under this paragraph at the same time and in the same manner as adjusted by the United States secretary of the treasury under section 401(a)(17)(B) of the internal revenue code. The adjustment under this paragraph for a calendar year applies to annual compensation for that calendar year.
3.For members who are hired on or after July 1, 2018, $70,000. The board shall adjust the $70,000 annual compensation limit under this paragraph as prescribed in subsect
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A. The annual compensation of each member taken into account for purposes of the plan shall not exceed the following:
1. Beginning January 1, 1996 through December 31, 2001, $150,000.
2. Except for members hired on or after July 1, 2018, beginning January 1, 2002, $200,000. The board shall adjust the $200,000 annual compensation limit under this paragraph at the same time and in the same manner as adjusted by the United States secretary of the treasury under section 401(a)(17)(B) of the internal revenue code. The adjustment under this paragraph for a calendar year applies to annual compensation for that calendar year.
3. For members who are hired on or after July 1, 2018, $70,000. The board shall adjust the $70,000 annual compensation limit under this paragraph as prescribed in subsection C of this section. Notwithstanding the adjustments made under subsection C of this section, the limit under this paragraph, as adjusted by the board, may not exceed the maximum compensation limit of section 401(a)(17) of the internal revenue code, as adjusted by the United States secretary of the treasury.
B. If compensation under the plan is determined on a period of time that contains fewer than twelve calendar months, the compensation limit for that period of time is equal to the dollar limit for the calendar year during which the period of time begins, multiplied by the fraction in which the numerator is the number of full months in that period of time and the denominator is twelve.
C. Beginning in fiscal year 2021-2022, and every third fiscal year thereafter, the board shall adjust the annual compensation limit specified in subsection A, paragraph 3 of this section by the average change in the probation wage index as determined pursuant to this subsection. The board shall annually publish the probation wage index in January. The annual compensation limit adjustment under this subsection for a calendar year applies to the annual compensation for that calendar year. To determine the probation wage index:
1. The administrative office of the courts shall provide to the board pay scales for the month of July for the classifications of probation officers, by county, annually in July.
2. The board shall determine the weighted average of the change in the top of the pay scale for probation officers. The average change shall be weighted by measuring each county's total number of members divided by the total number of members of all counties represented in the probation wage index.
D. The board shall establish a probation wage index that reflects the calculation made pursuant to subsection C of this section.
E. For the purposes of this section, "probation officers" means the classifications of probation officers or surveillance officers or their equivalent classifications.