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CA AB1878

Bill

Official Source

Status

Vetoed

9/26/2016

Primary Sponsor

Reginald Jones-Sawyer

Click for details

Origin

State Assembly

2015-2016 Session

AI Summary

  • Authorizes the Public Employees' Retirement System Board of Administration to adjust the postretirement death benefit amount for state and school members beginning January 1, 2017, following each actuarial valuation
  • Death benefit adjustments shall reflect changes in the All Urban California Consumer Price Index, with adjusted amounts adopted as plan amendments
  • Maintains the base death benefit of $2,000 paid to designated beneficiaries upon death of retired state or school members receiving retirement allowances
  • Additional employer contributions required to fund benefit adjustments shall be computed as a level percentage of member compensation
  • Applies to school employers and retired school members whose deaths occur on or after January 1, 2001, but excludes contracting agencies and local members except school employers

Legislative Description

Public Employees' Retirement System: state or school members: postretirement death benefit.

Last Action

Vetoed by Governor.

9/26/2016

Committee Referrals

Appropriations6/27/2016
Public Employees and Retirement6/9/2016
Rules6/6/2016
Appropriations4/20/2016
Public Employees, Retirement and Social Security2/25/2016

Full Bill Text

No bill text available