Bill > AB2417

This bill requires the office of the Chancellor of the California Community Colleges to create informational materials explaining the differences between the State Teachers' Retirement System's (STRS) Defined Benefit Program (a traditional pension providing a set retirement income based on salary and service), the Cash Balance Benefit Program (a retirement plan for employees working less than half-time), and Social Security. It also mandates that temporary community college employees, who perform "creditable service" (work that counts towards retirement benefits), must be offered the choice to join either the Defined Benefit Program, the Cash Balance Benefit Program if available, or Social Security. This aims to ensure these employees are aware of their retirement options and the implications of each choice, and if this imposes new costs on local community college districts, the state will reimburse them.

Budget and Finance, Education, Labor and Employment

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB2417