7522.20. (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 |
|
521/4 …………………… |
1.025 |
|
521/2 …………………… |
1.050 |
|
523/4 …………………… |
1.075 |
|
53 …………………… …………………… |
1.100 |
|
531/4 …………………… |
1.125 |
|
531/2 …………………… |
1.150 |
|
533/4 …………………… |
1.175 |
|
54 …………………… |
1.200 |
|
541/4 …………………… |
1.225 |
|
541/2 …………………… |
1.250 |
|
543/4 …………………… |
1.275 |
|
55 …………………… |
1.300 |
|
551/4 …………………… |
1.325 |
|
551/2 …………………… |
1.350 |
|
553/4 …………………… |
1.375 |
|
56 …………………… |
1.400 |
|
561/4 …………………… |
1.425 |
|
561/2 …………………… |
1.450 |
|
563/4 …………………… |
1.475 |
|
57 …………………… |
1.500 |
|
571/4 …………………… |
1.525 |
|
571/2 …………………… |
1.550 |
|
573/4 …………………… |
1.575 |
|
58 …………………… |
1.600 |
|
581/4 …………………… |
1.625 |
|
581/2 …………………… |
1.650 |
|
583/4 …………………… |
1.675 |
|
59 …………………… |
1.700 |
|
591/4 …………………… |
1.725 |
|
591/2 …………………… |
1.750 |
|
593/4 …………………… |
1.775 |
|
60 …………………… |
1.800 |
|
601/4 …………………… |
1.825 |
|
601/2 …………………… |
1.850 |
|
603/4 …………………… |
1.875 |
|
61 …………………… |
1.900 |
|
611/4 …………………… |
1.925 |
|
611/2 …………………… |
1.950 |
|
613/4 …………………… |
1.975 |
|
62 …………………… |
2.000 |
|
621/4 …………………… |
2.025 |
|
621/2 …………………… |
2.050 |
|
623/4 …………………… |
2.075 |
|
63 …………………… |
2.100 |
|
631/4 …………………… |
2.125 |
|
631/2 …………………… |
2.150 |
|
633/4 …………………… |
2.175 |
|
64 …………………… |
2.200 |
|
641/4 …………………… |
2.225 |
|
641/2 …………………… |
2.250 |
|
643/4 …………………… |
2.275 |
|
65 …………………… |
2.300 |
|
651/4 …………………… |
2.325 |
|
651/2 …………………… |
2.350 |
|
653/4 …………………… |
2.375 |
|
66 …………………… |
2.400 |
|
661/4 …………………… |
2.425 |
|
661/2 …………………… |
2.450 |
|
663/4 …………………… |
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.
(Amended by Stats. 2013, Ch. 76, Sec. 74. (AB 383) Effective January 1, 2014.)