Current through the 2016 Legislative Session
This section may be made applicable in any county on the first day of the month after the board of supervisors of such county adopts, by majority vote, a resolution providing that this section shall become applicable in such 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-sixtieth 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 of Retirement Fraction 50 .......................... .7091 50 1/4 .......................... .7183 50 1/2 .......................... .7274 50 3/4 .......................... .7366 51 .......................... .7457 51 1/4 .......................... .7547 51 1/2 .......................... .7637 51 3/4 .......................... .7726 52 .......................... .7816 52 1/4 .......................... .7907 52 1/2 .......................... .7999 52 3/4 .......................... .8090 53 .......................... .8181 53 1/4 .......................... .8275 53 1/2 .......................... .8369 53 3/4 .......................... .8462 54 .......................... .8556 54 1/4 .......................... .8656 54 1/2 .......................... .8755 54 3/4 .......................... .8855 55 .......................... .8954 55 1/4 .......................... .9061 55 1/2 .......................... .9168 55 3/4 .......................... .9275 56 .......................... .9382 56 1/4 .......................... .9498 56 1/2 .......................... .9614 56 3/4 .......................... .9730 57 .......................... .9846 57 1/4 .......................... .9972 57 1/2 .......................... 1.0098 57 3/4 .......................... 1.0224 58 .......................... 1.0350 58 1/4 .......................... 1.0487 58 1/2 .......................... 1.0625 58 3/4 .......................... 1.0762 59 .......................... 1.0899 59 1/4 .......................... 1.1049 59 1/2 .......................... 1.1199 59 3/4 .......................... 1.1349 60 .......................... 1.1500 60 1/4 .......................... 1.1611 60 1/2 .......................... 1.1723 60 3/4 .......................... 1.1835 61 .......................... 1.1947 61 1/4 .......................... 1.2097 61 1/2 .......................... 1.2247 61 3/4 .......................... 1.2398 62 .......................... 1.2548 62 1/4 .......................... 1.2707 62 1/2 .......................... 1.2867 62 3/4 .......................... 1.3026 63 .......................... 1.3186 63 1/4 .......................... 1.3355 63 1/2 .......................... 1.3525 63 3/4 .......................... 1.3695 64 .......................... 1.3865 64 1/4 .......................... 1.4047 64 1/2 .......................... 1.4229 64 3/4 .......................... 1.4411 65 and over ..................... 1.4593 The fractions herein set forth shall be used until adjusted by each board for its retirement system in accordance with the interest and mortality tables adopted by each such board with respect to its retirement system.
In any county operating under this section any limitation in any provisions of this chapter upon the amount of compensation used for computing rates of contributions shall be disregarded.