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CA AB2139
Bill
Status
2/23/2012
Primary Sponsor
Warren Furutani
Click for details
AI Summary
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Changes Section 22950 of the Education Code regarding employer contributions to the State Teachers' Retirement System
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Converts deposits into the Teachers' Retirement Program Development Fund from discretionary ("may") to mandatory ("shall"), while maintaining the existing 0.01 percent limit on the fund balance
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Maintains the requirement that employers contribute 8 percent of creditable compensation monthly, with portions deposited into the Teachers' Retirement Fund and Teachers' Health Benefits Fund
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Specifies that Program Development Fund deposits are separate from and shall not be transferred through the Teachers' Retirement Fund
Legislative Description
State teachers' retirement.
Last Action
In committee: Hearing postponed by committee.
4/30/2012