(a) A member subject to the California Public Employees’ Pension Reform Act of 2013 shall receive a retirement allowance consisting of all of the following:

1. (1) An annual allowance payable in monthly installments upon retirement equal to the percentage of the final compensation set forth opposite the member’s age at retirement in the following table multiplied by each year of credited service:

   Age at Retirement	Percentage
   62	2.000
   621/4	2.033
   621/2	2.067
   623/4	2.100
   63	2.133
   631/4	2.167
   631/2	2.200
   633/4	2.233
   64	2.267
   641/4	2.300
   641/2	2.333
   643/4	2.367
   65	2.400

2. (2) If a member retires after attaining early retirement age but before attaining normal retirement age, the member’s allowance shall be reduced by one-half of 1 percent for each full month, or fraction of a month, that will elapse until the member will attain normal retirement age.