Cal. Gov. Code § 7522.25 : CALIFORNIA GOVERNMENT CODE — GENERAL — MISCELLANEOUS — PUBLIC PENSION AND RETIREMENT PLANS — California Public Employees' Pension Reform Act of 2013 — Formula for safety members of system

(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.

Fraction	Age at Retirement
50 ........................	1.426
50¹/₄ ........................	1.447
50¹/₂ ........................	1.467
50³/₄ ........................	1.488
51 ........................	1.508
51¹/₄ ........................	1.529
51¹/₂ ........................	1.549
51³/₄ ........................	1.570
52 ........................	1.590
52¹/₄ ........................	1.611
52¹/₂ ........................	1.631
52³/₄ ........................	1.652
53 ........................	1.672
53¹/₄ ........................	1.693
53¹/₂ ........................	1.713
53³/₄ ........................	1.734
54 ........................	1.754
54¹/₄ ........................	1.775
54¹/₂ ........................	1.795
54³/₄ ........................	1.816
55 ........................	1.836
55¹/₄ ........................	1.857
55¹/₂ ........................	1.877
55³/₄ ........................	1.898
56 ........................	1.918
56¹/₄ ........................	1.939
56¹/₂ ........................	1.959
56³/₄ ........................	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
50¹/₄ ........................	2.018
50¹/₂ ........................	2.036
50³/₄ ........................	2.054
51 ........................	2.071
51¹/₄ ........................	2.089
51¹/₂ ........................	2.107
51³/₄ ........................	2.125
52 ........................	2.143
52¹/₄ ........................	2.161
52¹/₂ ........................	2.179
52³/₄ ........................	2.196
53 ........................	2.214
53¹/₄ ........................	2.232
53¹/₂ ........................	2.250
53³/₄ ........................	2.268
54 ........................	2.286
54¹/₄ ........................	2.304
54¹/₂ ........................	2.321
54³/₄ ........................	2.339
55 ........................	2.357
55¹/₄ ........................	2.375
55¹/₂ ........................	2.393
55³/₄ ........................	2.411
56 ........................	2.429
56¹/₄ ........................	2.446
56¹/₂ ........................	2.464
56³/₄ ........................	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.

Fraction	Age at Retirement
50 ........................	2.000
50¹/₄ ........................	2.025
50¹/₂ ........................	2.050
50³/₄ ........................	2.075
51 ........................	2.100
51¹/₄ ........................	2.125
51¹/₂ ........................	2.150
51³/₄ ........................	2.175
52 ........................	2.200
52¹/₄ ........................	2.225
52¹/₂ ........................	2.250
52³/₄ ........................	2.275
53 ........................	2.300
53¹/₄ ........................	2.325
53¹/₂ ........................	2.350
53³/₄ ........................	2.375
54 ........................	2.400
54¹/₄ ........................	2.425
54¹/₂ ........................	2.450
54³/₄ ........................	2.475
55 ........................	2.500
55¹/₄ ........................	2.525
55¹/₂ ........................	2.550
55³/₄ ........................	2.575
56 ........................	2.600
56¹/₄ ........................	2.625
56¹/₂ ........................	2.650
56³/₄ ........................	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.

Ca. Gov. Code § 7522.25

Amended by Stats 2013 ch 528 (SB 13),s 5, eff. 10/4/2013.

Added by Stats 2012 ch 296 (AB 340),s 15, eff. 1/1/2013.