Bill Text: CA AB617 | 2011-2012 | Regular Session | Introduced

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Bill Title: Public employees' retirement: postretirement death

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-02-01 - Died pursuant to Art. IV, Sec. 10(c) of the Constitution. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB617 Detail]

Download: California-2011-AB617-Introduced.html

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BILL NUMBER: AB 617	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Davis

                        FEBRUARY 16, 2011

   An act to amend Section 21623 of the Government Code, relating to
public employees' retirement, and making an appropriation therefor.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 617, as introduced, Davis. Public employees' retirement:
postretirement death benefits.
   The Public Employees' Retirement Law requires that, upon the death
of any state or school member after retirement and while receiving a
retirement allowance, the sum of $2,000 be paid to the member's
designated beneficiary, as specified. Existing law provides that the
additional employer contributions required to fund this benefit be
computed as a level percentage of member compensation, and these are
deposited in the Public Employees' Retirement Fund, a continuously
appropriated fund.
   This bill would increase the amount of that payment to $6,163 with
respect to those school members. By providing for funds in the
Public Employees' Retirement Fund to be spent for a new purpose, and
by increasing contributions to that fund, this bill would make an
appropriation.
   Vote: majority. Appropriation: yes. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 21623 of the Government Code is amended to
read:
   21623.  (a) In lieu of benefits provided by Section 21620 or
21622, upon the death of any retired state  or school
 member, after retirement and while receiving a retirement
allowance from this system, there shall be paid to the beneficiary
whom he or she shall nominate by written designation duly executed
and filed with the board, the sum of two thousand dollars ($2,000),
to be provided from contributions by the employer. 
   (b) In lieu of benefits provided by Section 21620 or 21622, upon
the death of a retired school member, after retirement and while
receiving a retirement allowance from this system, there shall be
paid to the beneficiary whom he or she shall nominate by written
designation duly executed and filed with the board, the sum of six
thousand one hundred sixty-three dollars ($6,163), to be provided
from contributions by the employer.  
   (b) 
    (c)  For the purposes of this section, all
contributions, liabilities, actuarial interest rates, and other
valuation factors shall be determined on the basis of actuarial
assumptions and methods that, in the aggregate, are reasonable and
that, in combination, offer the actuary's best estimate of
anticipated experience under this system. 
   (c) 
    (d)  The additional employer contributions required
under this section shall be computed as a level percentage of member
compensation. 
   (d) 
    (e)  This section shall apply to a school employer and a
retired school member whose death after retirement occurs on or
after January 1, 2001. This section shall not apply to any
contracting agency or local member, except those contracting agencies
that are school employers and those school districts or community
college districts as defined in subdivision (i) of Section 20057.