California § 7522.20. 7522.20. (Amended by Stats. 2013, Ch. 76, Sec. 74.)

California Statutes

§ 7522.20. — 7522.20. (Amended by Stats. 2013, Ch. 76, Sec. 74.)

California·Code GOV Government Code - GOV·Div. 7.·Title 1. DIVISION 7. MISCELLANEOUS·Ch. 21. CHAPTER 21. Public Pension and Retirement Plans·Art. 4. ARTICLE 4. California Public Employees’ Pension Reform Act of 2013

(a)Each retirement system that offers a defined benefit plan for nonsafety members of the system shall use the formula prescribed by this section. The defined benefit plan shall provide a pension at retirement for service equal to the percentage of the member’s final compensation set forth opposite the member’s age at retirement, taken to the preceding quarter year, in the following table, multiplied by the number of years of service in the system as a nonsafety member. A member may retire for service under this section after five years of service and upon reaching 52 years of age. Age of Retirement Fraction 52 1.000 52 1 4 1.025 52 1 2 1.050 52 3 4 1.075 53 1.100 53 1 4 1.125 53 1 2 1.150 53 3 4 1.175 54 1.200 54 1 4 1.225 54 1 2 1.250 54 3 4 1.275 55 1.300 55 1 4 1.325 55 1 2 1.350 55 3

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(a)
Each retirement system that offers a defined benefit plan for nonsafety members of the system shall use the formula prescribed by this section. The defined benefit plan shall provide a pension at retirement for service equal to the percentage of the member’s final compensation set forth opposite the member’s age at retirement, taken to the preceding quarter year, in the following table, multiplied by the number of years of service in the system as a nonsafety member. A member may retire for service under this section after five years of service and upon reaching 52 years of age.
Age of Retirement
Fraction
52
1.000
52
1
4
1.025
52
1
2
1.050
52
3
4
1.075
53
1.100
53
1
4
1.125
53
1
2
1.150
53
3
4
1.175
54
1.200
54
1
4
1.225
54
1
2
1.250
54
3
4
1.275
55
1.300
55
1
4
1.325
55
1
2
1.350
55
3
4
1.375
56
1.400
56
1
4
1.425
56
1
2
1.450
56
3
4
1.475
57
1.500
57
1
4
1.525
57
1
2
1.550
57
3
4
1.575
58
1.600
58
1
4
1.625
58
1
2
1.650
58
3
4
1.675
59
1.700
59
1
4
1.725
59
1
2
1.750
59
3
4
1.775
60
1.800
60
1
4
1.825
60
1
2
1.850
60
3
4
1.875
61
1.900
61
1
4
1.925
61
1
2
1.950
61
3
4
1.975
62
2.000
62
1
4
2.025
62
1
2
2.050
62
3
4
2.075
63
2.100
63
1
4
2.125
63
1
2
2.150
63
3
4
2.175
64
2.200
64
1
4
2.225
64
1
2
2.250
64
3
4
2.275
65
2.300
65
1
4
2.325
65
1
2
2.350
65
3
4
2.375
66
2.400
66
1
4
2.425
66
1
2
2.450
66
3
4
2.475
67
2.500
(b)
Pensionable compensation used to calculate the defined benefit shall be limited as described in Section 7522.10.
(c)
A new member of the State Teachers’ Retirement System shall be subject to the formula established pursuant to Section 24202.6 of the Education Code.

California § 7522.20. (7522.20. (Amended by Stats. 2013, Ch. 76, Sec. 74.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.