CA AB2474

Expands authorized deposit accounts for retirement benefit payments to include living trusts and income-only trusts established for Medi-Cal qualification purposes.

Authorizes Los Angeles County retirement system to offer prepaid accounts as a payment option until January 1, 2028, with required procedures for statements, error reporting, and ombudsperson assistance.

Requires Los Angeles County retirement system to submit a report by November 30, 2027 to legislative committees detailing prepaid account implementation, usage, costs, and beneficiary feedback.

Prohibits retired members from being employed by their county or retirement system without reinstatement, except as authorized under existing law, and requires overpayment reimbursement and employer contribution payments for violations.

Authorizes retirement system boards to assess $200 monthly fees against employers who fail to enroll retired employees or report pay and hours within 30 days of hire or pay period end.