AB 1354 Summary

• Requires county retirement systems under the County Employees Retirement Law of 1937 to comply with federal law provisions allowing survivors of members who die during qualified military service to receive additional benefits they would have received had the member returned to work and then died.

• Credits service for vesting purposes to members who die while performing qualified military service, with this provision applying retroactively to deaths occurring on or after January 1, 2007.

• Specifies that the amount payable to retirement system members in any year cannot exceed the Internal Revenue Code Section 415(b) limit as established at the annuity starting date, adjusted annually per federal law requirements.

• Clarifies that cost-of-living adjustments to federal contribution limits continue to apply even after a member's severance from employment or annuity starting date.