CA Gov't Code Section 7522.25

(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 5014 1.447 5012 1.467 5034 1.488 51 1.508 5114 1.529 5112 1.549 5134 1.570 52 1.590 5214 1.611 5212 1.631 5234 1.652 53 1.672 5314 1.693 5312 1.713 5334 1.734 54 1.754 5414 1.775 5412 1.795 5434 1.816 55 1.836 5514 1.857 5512 1.877 5534 1.898 56 1.918 5614 1.939 5612 1.959 5634 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 5014 2.018 5012 2.036 5034 2.054 51 2.071 5114 2.089 5112 2.107 5134 2.125 52 2.143 5214 2.161 5212 2.179 5234 2.196 53 2.214 5314 2.232 5312 2.250 5334 2.268 54 2.286 5414 2.304 5412 2.321 5434 2.339 55 2.357 5514 2.375 5512 2.393 5534 2.411 56 2.429 5614 2.446 5612 2.464 5634 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 5014 2.025 5012 2.050 5034 2.075 51 2.100 5114 2.125 5112 2.150 5134 2.175 52 2.200 5214 2.225 5212 2.250 5234 2.275 53 2.300 5314 2.325 5312 2.350 5334 2.375 54 2.400 5414 2.425 5412 2.450 5434 2.475 55 2.500 5514 2.525 5512 2.550 5534 2.575 56 2.600 5614 2.625 5612 2.650 5634 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.