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| 1 | + | CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Senate Bill No. 1433Introduced by Senator MoorlachFebruary 16, 2018 An act to amend Section 7522.15 of the Government Code, relating to public employees retirement. LEGISLATIVE COUNSEL'S DIGESTSB 1433, as introduced, Moorlach. The California Public Employees Pension Reform Act of 2013.Existing law, the California Public Employees Pension Reform Act of 2013, among other things, establishes new retirement formulas for employees first employed on or after January 1, 2013, that a public employer or retirement system offering a defined benefit pension plan is prohibited from exceeding, subject to certain exceptions. This bill would make nonsubstantive changes in these provisions.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 7522.15 of the Government Code is amended to read:7522.15. Except as provided in subdivisions (d) and (e) of Section 7522.02, each a public employer and each or public retirement system that offers a defined benefit plan shall offer only the defined benefit formulas established pursuant to Sections 7522.20 and 7522.25 to new members. | |
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| 3 | - | ||
| 3 | + | CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION Senate Bill No. 1433Introduced by Senator MoorlachFebruary 16, 2018 An act to amend Section 7522.15 of the Government Code, relating to public employees retirement. LEGISLATIVE COUNSEL'S DIGESTSB 1433, as introduced, Moorlach. The California Public Employees Pension Reform Act of 2013.Existing law, the California Public Employees Pension Reform Act of 2013, among other things, establishes new retirement formulas for employees first employed on or after January 1, 2013, that a public employer or retirement system offering a defined benefit pension plan is prohibited from exceeding, subject to certain exceptions. This bill would make nonsubstantive changes in these provisions.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO | |
| 4 | 4 | ||
| 5 | - | Amended IN Senate April 02, 2018 | |
| 6 | 5 | ||
| 7 | - | Amended IN Senate April 02, 2018 | |
| 6 | + | ||
| 7 | + | ||
| 8 | 8 | ||
| 9 | 9 | CALIFORNIA LEGISLATURE 20172018 REGULAR SESSION | |
| 10 | 10 | ||
| 11 | 11 | Senate Bill No. 1433 | |
| 12 | 12 | ||
| 13 | 13 | Introduced by Senator MoorlachFebruary 16, 2018 | |
| 14 | 14 | ||
| 15 | 15 | Introduced by Senator Moorlach | |
| 16 | 16 | February 16, 2018 | |
| 17 | 17 | ||
| 18 | - | An act to amend Section 7522.15 | |
| 18 | + | An act to amend Section 7522.15 of the Government Code, relating to public employees retirement. | |
| 19 | 19 | ||
| 20 | 20 | LEGISLATIVE COUNSEL'S DIGEST | |
| 21 | 21 | ||
| 22 | 22 | ## LEGISLATIVE COUNSEL'S DIGEST | |
| 23 | 23 | ||
| 24 | - | SB 1433, as | |
| 24 | + | SB 1433, as introduced, Moorlach. The California Public Employees Pension Reform Act of 2013. | |
| 25 | 25 | ||
| 26 | - | The County Employees Retirement Law of 1937 (CERL) authorizes counties to establish retirement systems pursuant to its provisions for the purpose of providing pension and death benefits to county and district employees. Existing law creates the Deferred Retirement Option Program within CERL to provide eligible members who elect to participate in the program access to a lump sum or monthly payments for a specified period in addition to a monthly retirement allowance. This bill, on and after January 1, 2019, would prohibit a county or district from allowing a member to participate in a Deferred Retirement Option Program who was not participating in the program on or before December 31, 2018. The bill would also prohibit a county or district from establishing a new or additional Deferred Retirement Option Program.Existing law, the California Public Employees Pension Reform Act of 2013, among other things, establishes new retirement formulas for employees first employed on or after January 1, 2013, that a public employer or retirement system offering a defined benefit pension plan is prohibited from exceeding, subject to certain exceptions. This bill would make nonsubstantive changes in these provisions. | |
| 27 | - | ||
| 28 | - | The County Employees Retirement Law of 1937 (CERL) authorizes counties to establish retirement systems pursuant to its provisions for the purpose of providing pension and death benefits to county and district employees. Existing law creates the Deferred Retirement Option Program within CERL to provide eligible members who elect to participate in the program access to a lump sum or monthly payments for a specified period in addition to a monthly retirement allowance. | |
| 29 | - | ||
| 30 | - | This bill, on and after January 1, 2019, would prohibit a county or district from allowing a member to participate in a Deferred Retirement Option Program who was not participating in the program on or before December 31, 2018. The bill would also prohibit a county or district from establishing a new or additional Deferred Retirement Option Program. | |
| 26 | + | Existing law, the California Public Employees Pension Reform Act of 2013, among other things, establishes new retirement formulas for employees first employed on or after January 1, 2013, that a public employer or retirement system offering a defined benefit pension plan is prohibited from exceeding, subject to certain exceptions. This bill would make nonsubstantive changes in these provisions. | |
| 31 | 27 | ||
| 32 | 28 | Existing law, the California Public Employees Pension Reform Act of 2013, among other things, establishes new retirement formulas for employees first employed on or after January 1, 2013, that a public employer or retirement system offering a defined benefit pension plan is prohibited from exceeding, subject to certain exceptions. | |
| 33 | 29 | ||
| 34 | - | ||
| 35 | - | ||
| 36 | 30 | This bill would make nonsubstantive changes in these provisions. | |
| 37 | - | ||
| 38 | - | ||
| 39 | 31 | ||
| 40 | 32 | ## Digest Key | |
| 41 | 33 | ||
| 42 | 34 | ## Bill Text | |
| 43 | 35 | ||
| 44 | - | The people of the State of California do enact as follows:SECTION 1. Section | |
| 36 | + | The people of the State of California do enact as follows:SECTION 1. Section 7522.15 of the Government Code is amended to read:7522.15. Except as provided in subdivisions (d) and (e) of Section 7522.02, each a public employer and each or public retirement system that offers a defined benefit plan shall offer only the defined benefit formulas established pursuant to Sections 7522.20 and 7522.25 to new members. | |
| 45 | 37 | ||
| 46 | 38 | The people of the State of California do enact as follows: | |
| 47 | 39 | ||
| 48 | 40 | ## The people of the State of California do enact as follows: | |
| 49 | 41 | ||
| 50 | - | SECTION 1. Section | |
| 42 | + | SECTION 1. Section 7522.15 of the Government Code is amended to read:7522.15. Except as provided in subdivisions (d) and (e) of Section 7522.02, each a public employer and each or public retirement system that offers a defined benefit plan shall offer only the defined benefit formulas established pursuant to Sections 7522.20 and 7522.25 to new members. | |
| 51 | 43 | ||
| 52 | - | SECTION 1. Section | |
| 44 | + | SECTION 1. Section 7522.15 of the Government Code is amended to read: | |
| 53 | 45 | ||
| 54 | 46 | ### SECTION 1. | |
| 55 | 47 | ||
| 56 | - | ||
| 48 | + | 7522.15. Except as provided in subdivisions (d) and (e) of Section 7522.02, each a public employer and each or public retirement system that offers a defined benefit plan shall offer only the defined benefit formulas established pursuant to Sections 7522.20 and 7522.25 to new members. | |
| 57 | 49 | ||
| 58 | - | ||
| 50 | + | 7522.15. Except as provided in subdivisions (d) and (e) of Section 7522.02, each a public employer and each or public retirement system that offers a defined benefit plan shall offer only the defined benefit formulas established pursuant to Sections 7522.20 and 7522.25 to new members. | |
| 59 | 51 | ||
| 60 | - | 31770. (a) This article shall be known and may be cited as the Deferred Retirement Option Program.(b) On and after January 1, 2019, a county or district shall not do either of the following:(1) Allow a member to participate in a Deferred Retirement Option Program who was not participating in the program on or before December 31, 2018.(2) Establish a new or additional Deferred Retirement Option Program. | |
| 61 | - | ||
| 62 | - | 31770. (a) This article shall be known and may be cited as the Deferred Retirement Option Program.(b) On and after January 1, 2019, a county or district shall not do either of the following:(1) Allow a member to participate in a Deferred Retirement Option Program who was not participating in the program on or before December 31, 2018.(2) Establish a new or additional Deferred Retirement Option Program. | |
| 63 | - | ||
| 64 | - | 31770. (a) This article shall be known and may be cited as the Deferred Retirement Option Program. | |
| 65 | - | ||
| 66 | - | (b) On and after January 1, 2019, a county or district shall not do either of the following: | |
| 67 | - | ||
| 68 | - | (1) Allow a member to participate in a Deferred Retirement Option Program who was not participating in the program on or before December 31, 2018. | |
| 69 | - | ||
| 70 | - | (2) Establish a new or additional Deferred Retirement Option Program. | |
| 52 | + | 7522.15. Except as provided in subdivisions (d) and (e) of Section 7522.02, each a public employer and each or public retirement system that offers a defined benefit plan shall offer only the defined benefit formulas established pursuant to Sections 7522.20 and 7522.25 to new members. | |
| 71 | 53 | ||
| 72 | 54 | ||
| 73 | 55 | ||
| 74 | - | ||
| 75 | - | ||
| 76 | - | Except as provided in subdivisions (d) and (e) of Section 7522.02, a public employer or public retirement system that offers a defined benefit plan shall offer only the defined benefit formulas established pursuant to Sections 7522.20 and 7522.25 to new members. | |
| 56 | + | 7522.15. Except as provided in subdivisions (d) and (e) of Section 7522.02, each a public employer and each or public retirement system that offers a defined benefit plan shall offer only the defined benefit formulas established pursuant to Sections 7522.20 and 7522.25 to new members. |