SB 962

  • California Senate Bill
  • 2023-2024 Regular Session
  • Introduced in Senate Jan 23, 2024
  • Passed Senate May 23, 2024
  • Assembly
  • Governor

San Diego Unified Port District: public employee pension benefits.

Abstract

The California Public Employees' Pension Reform Act of 2013 (PEPRA) generally requires a public retirement system, as defined, to modify its pension plan or plans to comply with the act and, among other things, requires a public employer that offers a defined benefit pension plan to provide specified retirement formulas for new members, as defined. PEPRA permits a public employer to adopt a new defined benefit formula, on or after January 1, 2013, that is not consistent with PEPRA, if that formula is determined and certified by the chief actuary and the board of that employer's retirement system to not have a greater risk or greater cost to the sponsoring employer than the defined benefit formula required by PEPRA and the plan is approved by the Legislature. This bill would approve a specified defined benefit formula applicable to employees of the San Diego Unified Port District. This bill would declare that it is to take effect immediately as an urgency statute.

Bill Sponsors (1)

Votes


Actions


May 24, 2024

Assembly

In Assembly. Read first time. Held at Desk.

May 23, 2024

Senate

Read third time. Urgency clause adopted. Passed. (Ayes 36. Noes 0.) Ordered to the Assembly.

May 21, 2024

Senate

Read second time. Ordered to third reading.

May 20, 2024

Senate

Read third time and amended.

Senate

Ordered to second reading.

Apr 18, 2024

Senate

Read second time and amended. Ordered to third reading.

Apr 17, 2024

Senate

From committee: Do pass as amended. (Ayes 5. Noes 0. Page 3662.) (April 17).

Apr 05, 2024

Senate

Set for hearing April 17.

Feb 14, 2024

Senate

Referred to Com. on L., P.E. & R.

  • Referral-Committee
Com. on L., P.E. & R.

Jan 24, 2024

Senate

From printer. May be acted upon on or after February 23.

Jan 23, 2024

Senate

Introduced. Read first time. To Com. on RLS. for assignment. To print.

Bill Text

Bill Text Versions Format
SB962 HTML
01/23/24 - Introduced PDF
04/18/24 - Amended Senate PDF
05/20/24 - Amended Senate PDF

Related Documents

Document Format
04/16/24- Senate Committee on Labor, Public Employment and Retirement PDF
04/19/24- Sen. Floor Analyses PDF
05/21/24- Sen. Floor Analyses PDF

Sources

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