Legislature: retirement.
Vote required
Two Thirds
Fiscal committee
No
Appropriation
No
Current location
Pending Referral
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill, the Legislative Diversification Act, proposes an amendment to the California Constitution to allow state legislators to accrue pension benefits for their service. Currently, the Constitution prohibits legislators from receiving such benefits. This measure would establish a retirement system for legislators elected on or after November 1, 2010, requiring a minimum of 10 years of service for full eligibility. It also allows legislators serving less than 10 years to transfer their service credits to other public employee pension systems.
Key provisions
- Establishes a retirement system for California legislators.
- Requires a minimum of 10 years of service for full eligibility in the retirement system.
- Allows legislators serving less than 10 years to transfer service credits.
- Repeals the existing constitutional prohibition on pension benefits for legislators.
- Requires the state to pay only the employer’s share of Social Security contributions for eligible legislators.
- Effective date for the new system is November 1, 2010.
Who is affected
- California State Legislators
- California Voters (through constitutional amendment)
- State Employees (potentially, through transfer of service credits)
Notable changes
- Reverses a 1990 constitutional amendment prohibiting pension benefits for legislators.
Bill text
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Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
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