2013 Public Employees Pension Reform Act Resources

Overview

2013 Public Employees Pension Reform Act Resources

The Governor last September signed AB 340 and AB 197, two bills which enacted the California Public Employees’ Pension Reform Act of 2013.AB 340 made several changes to the pension benefits that may be offered to employees hired on or after January 1, 2013, including setting a new maximum benefit, a lower-cost pension formula for safety and non-safety employees with requirements to work longer in order to reach full retirement age and a cap on the amount used to calculate a pension.Among other things, AB 340 also enacted pension spiking reform for new and existing employees, required three-year averaging of final compensation for new employees, and provided counties with new authority to negotiate cost-sharing agreements with current employees. AB 340 also contained limitations on the use of retired annuitants, requiring that an annuitant have a six-month break in service prior to returning to work. Public safety officers and firefighters are exempted from the annuitant restrictions and a retiree can return to work for the county prior to the six month break, if approved by the Board of Supervisors in a public meeting. AB 197 contained corrections to two drafting errors discovered in AB 340.  

Below you will find resources intended to summarize and clarify PEPRA. Please contact Faith Conley with questions.

 

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CSAC Institute’s Summer/Fall Schedule

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Latest CSAC Bulletin

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Read the Latest CSAC Bulletin

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Featured County of the Week
Butte County

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