Bill > SB853

This bill primarily makes technical and administrative changes to various public employee retirement systems in California, with a focus on the State Teachers' Retirement System (STRS) and the Public Employees' Retirement System (PERS). The bill gives the Teachers' Retirement Board final authority in determining employer definitions and membership classifications for STRS. It modifies provisions related to workload reduction for educators, changing the criteria for terminating workload reduction agreements from days worked to earnings percentage. The bill also updates procedures for fund transfers, specifying that if transfer dates fall on weekends or holidays, funds will be transferred the next business day. Additionally, the bill makes several technical adjustments to how compensation is calculated for retirement purposes, particularly for employees transitioning between different public retirement systems. It clarifies how overpayments will be recovered and modifies reporting requirements for retired employees who are rehired. The changes aim to provide more precise administrative guidelines and ensure consistency across different public retirement systems, with many modifications relating to the California Public Employees' Pension Reform Act of 2013 (PEPRA).

Budget and Finance, Justice, Labor and Employment

Labor, Public Employment and Retirement (S)

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB853