Section 21051 Of Article 6. Service Credit Election And Cost Calculation From California Government Code >> Division 5. >> Title 2. >> Part 3. >> Chapter 11. >> Article 6.
21051
. (a) A member electing to receive credit for service subject
to this section shall contribute, in accordance with Section 21050,
an amount equal to the following:
(1) The contributions the member would have made to the system for
the period for which current service credit is granted, assuming
that the rate of contribution under his or her employer's formula at
the rate age applicable to him or her at the beginning of his or her
first subsequent period of service in membership and his or her
compensation earnable on that date had applied to the member during
the period for which credit is granted.
(2) The interest that would have accrued on those contributions if
they had been deposited at the beginning date of his or her first
subsequent period of service in membership, from that date until the
date of completion of payments.
(3) If the member is authorized under Section 21050 to contribute
in other than a lump-sum payment, interest on the unpaid balance of
the amounts payable under paragraphs (1) and (2), which interest
shall begin to accrue as of the date of the election to receive
credit.
(b) The beginning date of the first subsequent period of service,
for purposes of computation of contributions and interest, shall be
deemed to be the end of the period of service credited for a member
who has no subsequent return to service.