§ 24203.5. — 24203.5. (Amended by Stats. 2014, Ch. 755, Sec. 31.)

California § 24203.5.

• Jurisdiction: California
• Code EDC: Education Code - EDC
• Div.: 1.
• Title 1.: DIVISION 1. GENERAL EDUCATION CODE PROVISIONS
• Part 13.: PART 13. STATE TEACHERS' RETIREMENT SYSTEM
• Ch. 27.: CHAPTER 27. Service Retirement

Text

(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:
(1)
Section 22714.
(2)
Section 22715.
(3)
Section 22717, except as provided in subdivision (c) of Section 22121.
(4)
Section 22717.5.
(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.

Legislative History

Amended by Stats. 2014, Ch. 755, Sec. 31. (SB 1220) Effective January 1, 2015.