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CA AB1812
Bill
Status
Failed
11/30/2016
Primary Sponsor
Donald Wagner
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AI Summary
- Caps annual retirement benefits at $100,000 per year for public employees not covered by federal Social Security, and $80,000 per year for those covered by Social Security
- Requires public retirement systems to adjust these benefit caps annually using the Consumer Price Index for All Urban Consumers
- Applies only to public employees first hired on or after January 1, 2017
- Exempts returning employees, state employees subject to Section 20281.5, and those on approved leave of absence
- Existing memoranda of understanding in effect on January 1, 2017 remain controlling until expiration, after which these provisions apply and cannot be superseded by future agreements
Legislative Description
Public employees' retirement.
Last Action
From committee without further action.
11/30/2016
Committee Referrals
Public Employees, Retirement and Social Security2/25/2016
Full Bill Text
No bill text available