CA ACA3

Proposes a constitutional amendment requiring any enhancement to public employee retirement formulas or benefits adopted after the measure's effective date apply only to future service, not retroactively to prior service.

Applies the prospective-only requirement to changes in membership classification or employment that result in retirement benefit enhancements.

Defines "operative date" for collective bargaining agreements as the signing date, a date agreed to by parties after signing, or a prior date (within 12 months) if the previous contract had expired.

Exempts cost-of-living adjustments within existing statutory limits from being considered retirement benefit enhancements.

Requires two-thirds vote in both legislative chambers and applies to all public retirement systems, including those established by charter cities, counties, and the University of California.