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CA AB1633
Bill
Status
Introduced
2/9/2012
Primary Sponsor
Donald Wagner
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AI Summary
- Caps annual retirement benefits at $100,000 for public employees not covered by Social Security and $80,000 for those covered by Social Security, with annual adjustments based on the Consumer Price Index for All Urban Consumers
- Applies only to public employees first hired on or after January 1, 2013, and excludes former employees rehired, certain state employees, and those on approved leave of absence
- Exempts the University of California Retirement System and retirement systems created for charter cities or charter counties from the benefit caps
- Memorandums of understanding in effect on January 1, 2013 remain controlling until expiration, after which these provisions cannot be superseded by subsequent agreements
- Applies to all state and local public retirement systems, with "public agency" defined broadly to include state, county, city, district, school district, and other political subdivisions
Legislative Description
Public employees' retirement.
Last Action
From committee: That the measure be retained in committee, and that the subject matter be referred to the Committee on Rules for assignment to the proper committee for study. (Ayes 4. Noes 2.) (April 26).
4/26/2012
Committee Referrals
Public Employees, Retirement and Social Security2/23/2012
Full Bill Text
No bill text available