Mimi Walters
- Republican
Author
Existing law creates the Public Employees' Retirement System which provides a defined benefit to its members based on age at retirement, service credit, and final compensation. This bill would require the Board of Administration of the Public Employees' Retirement System to create a hybrid retirement plan for public employees who become members on or after January 1, 2012, that offers a defined contribution plan and defined benefit plan for retirement for service and a defined benefit plan for retirement for disability or for death. The bill would prohibit those plans from creating a vested property right for the member with respect to any employer contributions before retirement, as specified. The bill would prohibit those members from being eligible to enroll in the defined benefit plan for retirement for service that existed before January 1, 2012.
No votes to display
Returned to Secretary of Senate pursuant to Joint Rule 56.
Set, first hearing. Hearing canceled at the request of author.
Set for hearing May 2.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
From printer. May be acted upon on or after March 20.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB520 | HTML |
| 02/17/11 - Introduced | |
| 03/21/11 - Amended Senate |
| Document | Format |
|---|---|
| No related documents. |
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