Bill > SB443

This bill addresses retirement provisions for joint powers authorities (JPAs), specifically focusing on the Pajaro Regional Flood Management Agency. The bill allows the Pajaro Regional Flood Management Agency to provide a defined benefit pension plan to existing employees who are not new members, enabling them to retain the pension formula they had with their previous employers before joining the JPA. Specifically, the agency can select and designate a defined benefit plan offered by one of its member agencies prior to January 1, 2013, for employees hired within 180 days of the retirement plan contract amendment. The bill emphasizes that new employees or new members are still subject to the California Public Employees' Pension Reform Act of 2013 (PEPRA) and can only participate in pension plans that conform to PEPRA requirements. Additionally, the bill allows other joint powers authorities to offer defined benefit plans to non-founding member agencies after obtaining approval from the retirement system, provided the employees are not new members. The legislation is specifically crafted to address the unique staffing needs of the Pajaro Regional Flood Management Agency in a region historically vulnerable to flood damage.

Budget and Finance, Labor and Employment

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB443