CA AB2472

Repeals requirement for the Public Employees' Retirement System (PERS) Board to annually file separate reports with the Governor and Legislature.

Increases service credit threshold from 5 to 10 years for certain members to cease PERS membership upon termination of service with no accumulated contributions.

Changes employer contribution calculation for corrected compensation to use the rate in effect when compensation was earned, rather than when the adjustment is made.

Allows elections, revocations, or changes of retirement benefits to be made within 30 calendar days after the first payment (previously required prior to first payment).

Requires judges who retire and are subsequently appointed or elected to serve as a judge to reinstate from retirement and again become members of the Judges' Retirement System II, except for judges assigned temporarily under specified circumstances.