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CA AB2456

Bill

Official Source

Status

Failed

11/30/2016

Primary Sponsor

Ken Cooley

Click for details

Origin

State Assembly

2015-2016 Session

AI Summary

  • Requires the Board of Administration of the Public Employees' Retirement System to develop, establish, and administer the California Employers' Pension Prefunding Trust Program
  • Aims to help state and local public employers with defined benefit pension plans effectively manage their annual pension contribution payments
  • Allows employers to invest surplus funds through the prefunding trust program mechanism
  • Requires fiscal committee review and approval by majority vote
  • Creates Chapter 19 in Part 3 of Division 5 of Title 2 of the Government Code

Legislative Description

Public employee retirement benefits: prefunding.

Last Action

From committee without further action.

11/30/2016

Committee Referrals

Public Employees, Retirement and Social Security3/17/2016

Full Bill Text

No bill text available