CA AB178

Extends exemption from postretirement earnings limitations for retired teachers who have returned to work until June 30, 2013, and adds new exemptions for retired members serving as trustees, administrators, or fiscal advisers to address academic or financial weaknesses in school districts.

Changes the postretirement compensation limitation from $22,000 (adjusted annually) to one-half of the median final compensation of all members who retired for service during the previous fiscal year.

Eliminates the one-year waiting period required after a retired member terminates their retirement allowance to reinstate as an active member, but prohibits members who reinstate and retire within one year from electing different options or beneficiaries.

Exempts third-party employees from earnings limitations if they perform limited-term assignments, the employer does not participate in California public pension systems, and the activities are not normally performed by public employer employees.

Declared an urgency statute effective immediately upon approval on July 17, 2012.