Assembly Bill No. 1722 CHAPTER 404 An act to amend Section 21400 of the Government Code, relating to public employees retirement, and making an appropriation therefor. [ Approved by Governor September 18, 2022. Filed with Secretary of State September 18, 2022. ] LEGISLATIVE COUNSEL'S DIGESTAB 1722, Cooper. Public employees retirement: safety members: industrial disability retirement. The Public Employees Retirement Law, until January 1, 2023, provides a state safety member of the Public Employees Retirement System who retires for industrial disability a retirement benefit equal to the greatest amount resulting from 3 possible calculations. In this regard, the benefit amount is based on an actuarially reduced service retirement, a service retirement allowance, if the member is qualified, or 50% of the members final compensation, plus an annuity purchased with their accumulated contributions, if any. Existing law establishes the Public Employees Retirement Fund, which is a trust fund that is appropriated continuously for various purposes, including the payment of benefits.This bill would delete the termination of these provisions on January 1, 2023, thereby making them operative in perpetuity. By providing that a continuously appropriated fund may be spent for a new purpose, this bill would make an appropriation. The bill also would make nonsubstantive style changes.Digest Key Vote: MAJORITY Appropriation: YES Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 21400 of the Government Code is amended to read:21400. A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:(a) Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.(b) A service retirement allowance, if the member is qualified for service retirement.(c) An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.(d) Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.
Assembly Bill No. 1722 CHAPTER 404 An act to amend Section 21400 of the Government Code, relating to public employees retirement, and making an appropriation therefor. [ Approved by Governor September 18, 2022. Filed with Secretary of State September 18, 2022. ] LEGISLATIVE COUNSEL'S DIGESTAB 1722, Cooper. Public employees retirement: safety members: industrial disability retirement. The Public Employees Retirement Law, until January 1, 2023, provides a state safety member of the Public Employees Retirement System who retires for industrial disability a retirement benefit equal to the greatest amount resulting from 3 possible calculations. In this regard, the benefit amount is based on an actuarially reduced service retirement, a service retirement allowance, if the member is qualified, or 50% of the members final compensation, plus an annuity purchased with their accumulated contributions, if any. Existing law establishes the Public Employees Retirement Fund, which is a trust fund that is appropriated continuously for various purposes, including the payment of benefits.This bill would delete the termination of these provisions on January 1, 2023, thereby making them operative in perpetuity. By providing that a continuously appropriated fund may be spent for a new purpose, this bill would make an appropriation. The bill also would make nonsubstantive style changes.Digest Key Vote: MAJORITY Appropriation: YES Fiscal Committee: YES Local Program: NO
Assembly Bill No. 1722 CHAPTER 404
Assembly Bill No. 1722
CHAPTER 404
An act to amend Section 21400 of the Government Code, relating to public employees retirement, and making an appropriation therefor.
[ Approved by Governor September 18, 2022. Filed with Secretary of State September 18, 2022. ]
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 1722, Cooper. Public employees retirement: safety members: industrial disability retirement.
The Public Employees Retirement Law, until January 1, 2023, provides a state safety member of the Public Employees Retirement System who retires for industrial disability a retirement benefit equal to the greatest amount resulting from 3 possible calculations. In this regard, the benefit amount is based on an actuarially reduced service retirement, a service retirement allowance, if the member is qualified, or 50% of the members final compensation, plus an annuity purchased with their accumulated contributions, if any. Existing law establishes the Public Employees Retirement Fund, which is a trust fund that is appropriated continuously for various purposes, including the payment of benefits.This bill would delete the termination of these provisions on January 1, 2023, thereby making them operative in perpetuity. By providing that a continuously appropriated fund may be spent for a new purpose, this bill would make an appropriation. The bill also would make nonsubstantive style changes.
The Public Employees Retirement Law, until January 1, 2023, provides a state safety member of the Public Employees Retirement System who retires for industrial disability a retirement benefit equal to the greatest amount resulting from 3 possible calculations. In this regard, the benefit amount is based on an actuarially reduced service retirement, a service retirement allowance, if the member is qualified, or 50% of the members final compensation, plus an annuity purchased with their accumulated contributions, if any. Existing law establishes the Public Employees Retirement Fund, which is a trust fund that is appropriated continuously for various purposes, including the payment of benefits.
This bill would delete the termination of these provisions on January 1, 2023, thereby making them operative in perpetuity. By providing that a continuously appropriated fund may be spent for a new purpose, this bill would make an appropriation. The bill also would make nonsubstantive style changes.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 21400 of the Government Code is amended to read:21400. A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:(a) Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.(b) A service retirement allowance, if the member is qualified for service retirement.(c) An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.(d) Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 21400 of the Government Code is amended to read:21400. A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:(a) Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.(b) A service retirement allowance, if the member is qualified for service retirement.(c) An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.(d) Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.
SECTION 1. Section 21400 of the Government Code is amended to read:
### SECTION 1.
21400. A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:(a) Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.(b) A service retirement allowance, if the member is qualified for service retirement.(c) An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.(d) Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.
21400. A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:(a) Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.(b) A service retirement allowance, if the member is qualified for service retirement.(c) An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.(d) Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.
21400. A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:(a) Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.(b) A service retirement allowance, if the member is qualified for service retirement.(c) An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.(d) Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.
21400. A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:
(a) Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.
(b) A service retirement allowance, if the member is qualified for service retirement.
(c) An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.
(d) Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.