(a) The combined current and prior service pensions for state peace officer/firefighter members subject to this section with respect to state peace officer/firefighter service and the combined current and prior service pensions for local safety members with respect to local safety service rendered to a contracting agency that is subject to this section is a pension derived from the contributions of the employer sufficient when added to the service retirement annuity that is derived from the accumulated normal contributions of the state peace officer/firefighter or local safety member at the date of his or her retirement to equal the fraction of one-fiftieth of his or her final compensation set forth opposite his or her age at retirement taken to the preceding completed quarter year, in the following table, multiplied by the number of years of state peace officer/firefighter service or local safety service subject to this section with which he or she is credited at retirement: Age at Retirement Fraction 50 1.0000 50 1 4 1.0125 50 1 2 1.0250 50 3 4 1.0375 51 1.0500 51 1 4 1.0625 51 1 2 1.0750 51 3 4 1.0875 52 1.1000 52 1 4 1.1125 52 1 2 1.1250 52 3 4 1.1375 53 1.1500 53 1 4 1.1625 53 1 2 1.1750 53 3 4 1.1875 54 1.2000 54 1 4 1.2125 54 1 2 1.2250 54 3 4 1.2375 55 and over 1.2500 (b) (1) In no event shall the current service pension and the combined current and prior service pensions under this section for all service to all employers exceed an amount that, when added to the service retirement annuity related to that service, equals 75 percent of final compensation. (2) For state members, with respect to service for all state employers under this section, the benefit shall not exceed: (A) Eighty percent of final compensation for state members who retire on or after January 1, 1995. (B) Eighty-five percent of final compensation for state peace officer/firefighter members in State Bargaining Units 6 and 8 who retire on or after January 1, 1999, and prior to January 1, 2000. (C) Ninety percent of final compensation for state peace officer/firefighter members who retire on or after January 1, 2000. (3) For local safety members who retire on or after January 1, 2000, the benefit shall not exceed 85 percent of final compensation. If the pension relates to service to more than one employer, or this section and Section 21369, and would otherwise exceed that maximum, the pension payable with respect to each section or employer shall be reduced in the same proportion as the allowance bears to the total allowance computed as though there were no limit, so that the total of the pensions shall equal the maximum. Where a state or local member retiring on or after January 1, 1995, has service under this section with both state and local agency employers, the higher maximum shall apply and the additional benefit, if any, shall be funded by increasing the memberâs pension payable with respect to the employer for whom the member performed the service subject to the higher maximum. (c) The Legislature reserves, with respect to any member subject to this section, the right to provide for the adjustment of industrial disability retirement allowances because of earnings of a retired person and modification of the conditions and qualifications required for retirement for disability as it may find appropriate because of the earlier age of service retirement made possible by the benefits under this section. (d) This section may be applied to related supervisory classes or confidential positions for the respective bargaining units specified in this section. (e) (1) This section shall be operative with respect to state peace officer/firefighter members in Corrections Bargaining Unit No. 6, Protective Services and Public Safety Bargaining Unit No. 7, or Firefighters Bargaining Unit No. 8, in accordance with a memorandum of understanding reached between the state and the exclusive bargaining agent in the respective unit pursuant to Chapter 10.3 (commencing
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