§ 7522.25. — 7522.25. (Amended by Stats. 2013, Ch. 528, Sec. 5.)

California § 7522.25.

• Jurisdiction: 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

Text

(a)
Each retirement system that offers a defined benefit plan for safety members of the system shall use one or more of the defined benefit formulas prescribed by this section. A member may retire for service under any of the formulas in this section after five years of service and upon reaching 50 years of age.
(b)
The Basic Safety 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 safety member.
Age at Retirement
Fraction
50
1.426
50
1
4
1.447
50
1
2
1.467
50
3
4
1.488
51
1.508
51
1
4
1.529
51
1
2
1.549
51
3
4
1.570
52
1.590
52
1
4
1.611
52
1
2
1.631
52
3
4
1.652
53
1.672
53
1
4
1.693
53
1
2
1.713
53
3
4
1.734
54
1.754
54
1
4
1.775
54
1
2
1.795
54
3
4
1.816
55
1.836
55
1
4
1.857
55
1
2
1.877
55
3
4
1.898
56
1.918
56
1
4
1.939
56
1
2
1.959
56
3
4
1.980
57 and over
2.000
(c)
The Safety Option Plan One 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 safety member.
Age at Retirement
Fraction
50
2.000
50
1
4
2.018
50
1
2
2.036
50
3
4
2.054
51
2.071
51
1
4
2.089
51
1
2
2.107
51
3
4
2.125
52
2.143
52
1
4
2.161
52
1
2
2.179
52
3
4
2.196
53
2.214
53
1
4
2.232
53
1
2
2.250
53
3
4
2.268
54
2.286
54
1
4
2.304
54
1
2
2.321
54
3
4
2.339
55
2.357
55
1
4
2.375
55
1
2
2.393
55
3
4
2.411
56
2.429
56
1
4
2.446
56
1
2
2.464
56
3
4
2.482
57 and over
2.500
(d)
The Safety Option Plan Two 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 safety member.
Age at Retirement
Fraction
50
2.000
50
1
4
2.025
50
1
2
2.050
50
3
4
2.075
51
2.100
51
1
4
2.125
51
1
2
2.150
51
3
4
2.175
52
2.200
52
1
4
2.225
52
1
2
2.250
52
3
4
2.275
53
2.300
53
1
4
2.325
53
1
2
2.350
53
3
4
2.375
54
2.400
54
1
4
2.425
54
1
2
2.450
54
3
4
2.475
55
2.500
55
1
4
2.525
55
1
2
2.550
55
3
4
2.575
56
2.600
56
1
4
2.625
56
1
2
2.650
56
3
4
2.675
57 and over
2.700
(e)
On and after January 1, 2013, an employer shall offer one or more of the safety formulas prescribed by this section to new members who are safety employees. The formula offered shall be the formula that is closest to, and provides a lower benefit at 55 years of age than, the formula provided to members in the same retirement classification offered by the employer on December 31, 2012.
(f)
On and after January 1, 2013, an employer and its employees subject to Safety Option Plan One or Safety Option Plan Two may agree in a memorandum of understanding to be subject to Safety Option Plan One or the Basic Safety Plan, subject to the following:
(1)
The lower plan shall apply to members first employed on or after the effective date of the lower plan, and
shall be agreed to in a memorandum of understanding that has been collectively bargained in accordance with applicable laws.
(2)
A retirement plan contract amendment with a public retirement system to alter a retirement formula pursuant to this subdivision shall not be implemented by the employer in the absence of a memorandum of understanding that has been collectively bargained in accordance with applicable laws.
(3)
An employer shall not use impasse procedures to impose the lower plan.
(4)
An employer shall not provide a different defined benefit for nonrepresented, managerial, or supervisory employees than the employer provides for other public employees, including represented employees, of the same
employer who are in the same membership classifications.
(g)
Pensionable compensation used to calculate the defined benefit shall be limited as described in Section 7522.10.

Legislative History

Amended by Stats. 2013, Ch. 528, Sec. 5. (SB 13) Effective October 4, 2013.