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AB-1933 State Teachers’ Retirement System: benefits.(1999-2000)

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AB1933:v92#DOCUMENT

Assembly Bill No. 1933
CHAPTER 1029

An act to add Section 24203.6 to the Education Code, relating to the State Teachers’ Retirement System.

[ Filed with Secretary of State  September 30, 2000. Approved by Governor  September 30, 2000. ]

LEGISLATIVE COUNSEL'S DIGEST


AB 1933, Strom-Martin. State Teachers’ Retirement System: benefits.
The Teachers’ Retirement Law provides that members with 30 or more years of credited service receive increases in their retirement allowance.
This bill would provide additional increases, as specified, for those members who have 30 or more years of credited service prior to 2011 and who retire for service on or after January 1, 2001.

The people of the State of California do enact as follows:


SECTION 1.

 Section 24203.6 is added to the Education Code, to read:

24203.6.
 (a) In addition to the amount otherwise payable pursuant to this chapter, a member who (1) retires for service on or after January 1, 2001, (2) has, prior to January 1, 2011, 30 or more years of credited service, excluding service credited pursuant to Sections 22714, 22715, 22717, and 22826 but including any credited service that a court has ordered be awarded to a nonmember spouse pursuant to Section 22652, and (3) is receiving an allowance subject to Section 24203.5, shall receive a monthly increase in the allowance, prior to any modification pursuant to Section 24300, in the amount identified in the following schedule for the number of years of the member’s credited service at the time of retirement, excluding service credited pursuant to Sections 22714, 22715, 22717, and 22826 but including any credited service that a court has ordered be awarded to a nonmember spouse pursuant to Section 22652:
30 years of credited service ........................
$200
31 years of credited service ........................
$300
32 or more years of credited service ........................
$400
(b) This section also shall apply to a nonmember spouse, if the member is eligible for the allowance increase pursuant to subdivision (a) upon his or her retirement for service and had at least 30 years of credited service, excluding service credited pursuant to Section 22714, 22715, 22717, or 22826, on the date the parties separated, as established in the judgment or court order pursuant to Section 22652.
(c) The allowance increase provided under this section shall not be subject to Sections 24415 and 24417, but shall be subject to Section 22140.