(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.
52
5214
1.025
5212
1.050
5234
1.075
53
1.100
5314
1.125
5312
1.150
5334
1.175
54
1.200
5414
1.225
5412
1.250
5434
1.275
55
1.300
5514
1.325
5512
1.350
5534
1.375
56
1.400
5614
1.425
5612
1.450
5634
1.475
57
1.500
5714
1.525
5712
1.550
5734
1.575
58
1.600
5814
1.625
5812
1.650
5834
1.675
59
1.700
5914
1.725
5912
1.750
5934
1.775
60
1.800
6014
1.825
6012
1.850
6034
1.875
61
1.900
6114
1.925
6112
1.950
6134
1.975
62
2.000
6214
2.025
6212
2.050
6234
2.075
63
2.100
6314
2.125
6312
2.150
6334
2.175
64
2.200
6414
2.225
6412
2.250
6434
2.275
65
2.300
6514
2.325
6512
2.350
6534
2.375
66
2.400
6614
2.425
6612
2.450
6634
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.