CA AB 2770
Title: Public employees’ retirement.
Author: House Public Employment and Retirement Committee
Summary
AB 2770, as amended, Committee on Public Employment and Retirement. Public employees’ retirement. (1) Existing law, the Teachers’ Retirement Law, establishes the State Teachers’ Retirement System (STRS), and sets forth the provisions for its administration and the delivery of benefits to its members. Existing law authorizes a member to request to purchase additional service credit and to redeposit accumulated retirement contributions returned to the member, as provided. Existing law specifies the basis for the contribution amount, depending on whether the member is or is not employed to perform creditable service subject to coverage by the Defined Benefit Program on the date of the request to purchase additional service credit. Existing law requires additional regular interest to be added to the contributions, as specified, if the member is not employed to perform creditable service subject to coverage by the Defined Benefit Program on the date of the request to purchase additional service credit.This bill would revise that interest calculation. The bill would require the member to sign and return the completed statement of contributions and interest required from STRS to purchase service credit at a specific cost no later than 35 calendar days from the date of the offer. The bill would also require a member to sign and return the completed election to repay accumulated retirement contributions from STRS to redeposit at a specific cost no later than 35 calendar days from the date of the offer.Existing law authorizes members to request to redeposit all or a portion of specified contributions with regular interest from the date of refund to the date of payment.This bill would instead authorize members to request to redeposit all or a portion of specified contributions with regular interest from the date of refund to the date STRS receives the request to redeposit.This bill would also make various technical changes.(2) Existing law, the County Employees Retirement Law of 1937 (CERL), prescribes the rights, benefits, and duties of members of the retirement systems established pursuant to its provisions.Existing law provides that participants in certain membership categories may be entitled to special benefits if the injury that causes their disability arises in the course of their employment. Existing law creates a presumption, for purposes of qualification for disability retirement benefits for specified members, that certain injuries, including post-traumatic stress disorder, as defined, arose out of, or in the course of, the member’s employment. Existing law authorizes the presumption relating to these injuries to be rebutted by evidence to the contrary, but unless controverted, the applicable governing board of a public retirement system is required to find in accordance with the presumption. Existing law repeals the provisions related to post-traumatic stress disorder on January 1, 2025.This bill would instead repeal the provisions related to post-traumatic stress disorder on January 1, 2029.Existing law prescribes the procedures the retirement board must follow to pay a member their accumulated contributions, if the service of a member is discontinued other than by death or retirement, including requiring the board to send to the member, a registered or certified letter, return receipt requested, as specified. Existing law also requires the board to attempt to locate a person or estate entitled to payment of a member’s accumulated contributions or any other benefit that fails to claim the payment or cannot be located through means that the board in its sound discretion deems reasonable including, but not limited to, a registered or certified letter, return receipt requested, as specified.This bill would remove the return receipt requirements.(3) The Judges’ Retirement Law prescribes retirement benefits for judges, as defined, who were first elected or appointed to judicial office before November 9, 1994. Existing law establi
Status
In Senate. Read first time. To Com. on RLS. for assignment.
Bill Documents
CA AB 2770 - 03/11/24 - Amended Assembly
03/11/24 - CA AB 2770 (03/11/24 - Amended Assembly)
CA AB 2770 - 02/15/24 - Introduced
02/15/24 - CA AB 2770 (02/15/24 - Introduced)