Bill Text: CA SB1433 | 2017-2018 | Regular Session | Amended
Bill Title: County employees’ retirement: Deferred Retirement Option Program.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-04-24 - April 23 set for first hearing. Failed passage in committee. (Ayes 1. Noes 3. Page 4789.) Reconsideration granted. [SB1433 Detail]
Download: California-2017-SB1433-Amended.html
Amended
IN
Senate
April 02, 2018 |
Senate Bill | No. 1433 |
Introduced by Senator Moorlach |
February 16, 2018 |
LEGISLATIVE COUNSEL'S DIGEST
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: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 31770 of the Government Code is amended to read:31770.
(a) This article shall be known and may be cited as the “Deferred Retirement Option Program.”
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.