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

50 1/4 1.447

50 1/2 1.467

50 3/4 1.488

51 1.508

51 1/4 1.529

51 1/2 1.549

51 3/4 1.570

52 1.590

52 1/4 1.611

52 1/2 1.631

52 3/4 1.652

53 1.672

53 1/4 1.693

53 1/2 1.713

53 3/4 1.734

54 1.754

54 1/4 1.775

54 1/2 1.795

54 3/4 1.816

55 1.836

55 1/4 1.857

55 1/2 1.877

55 3/4 1.898

56 1.918

56 1/4 1.939

56 1/2 1.959

56 3/4 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

50 1/4 2.018

50 1/2 2.036

50 3/4 2.054

51 2.071

51 1/4 2.089

51 1/2 2.107

51 3/4 2.125

52 2.143

52 1/4 2.161

52 1/2 2.179

52 3/4 2.196

53 2.214

53 1/4 2.232

53 1/2 2.250

53 3/4 2.268

54 2.286

54 1/4 2.304

54 1/2 2.321

54 3/4 2.339

55 2.357

55 1/4 2.375

55 1/2 2.393

55 3/4 2.411

56 2.429

56 1/4 2.446

56 1/2 2.464

56 3/4 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.

Age at Retirement Fraction

50 2.000

50 1/4 2.025

50 1/2 2.050

50 3/4 2.075

51 2.100

51 1/4 2.125

51 1/2 2.150

51 3/4 2.175

52 2.200

52 1/4 2.225

52 1/2 2.250

52 3/4 2.275

53 2.300

53 1/4 2.325

53 1/2 2.350

53 3/4 2.375

54 2.400

54 1/4 2.425

54 1/2 2.450

54 3/4 2.475

55 2.500

55 1/4 2.525

55 1/2 2.550

55 3/4 2.575

56 2.600

56 1/4 2.625

56 1/2 2.650

56 3/4 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.

y 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.