California Senate Bill SB309 Latest Draft

 BILL NUMBER: SB 309INTRODUCED BILL TEXT INTRODUCED BY Senator Morrell FEBRUARY 23, 2015 An act to amend Section 31621 of the Government Code, relating to county employees' retirement. LEGISLATIVE COUNSEL'S DIGEST SB 309, as introduced, Morrell. County employees' retirement: contribution rates. The County Employees Retirement Law of 1937 (CERL) authorizes counties to establish retirement systems pursuant to its provisions in order to provide pension benefits to county and district employees. CERL establishes the normal rates of contribution for members based on providing a specified, average annuity at 60 years of age. This bill would make technical, nonsubstantive changes to those provisions. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 31621 of the Government Code is amended to read: 31621. The normal rates of contribution  ,  except for members covered by Article 6.8  (commencing with Section 31639),  shall  be such as will  provide an average annuity at  age  60  years of age  equal to one one-hundred-twentieth of the final compensation of members not covered by  Article 6.8,   that article,  according to the tables adopted by the board of supervisors, for each year of service rendered after entering the system.