AB 1722: Public employees’ retirement: safety members: industrial disability retirement.
- Session Year: 2021-2022
- House: Assembly
- Latest Version Date: 2022-09-18
The Public Employees Retirement Law, until January 1, 2023, provides a state safety member of the Public Employees Retirement System who retires for industrial disability a retirement benefit equal to the greatest amount resulting from 3 possible calculations. In this regard, the benefit amount is based on an actuarially reduced service retirement, a service retirement allowance, if the member is qualified, or 50% of the members final compensation, plus an annuity purchased with their accumulated contributions, if any. Existing law establishes the Public Employees Retirement Fund, which is a trust fund that is appropriated continuously for various purposes, including the payment of benefits.
This bill would delete the termination of these provisions on January 1, 2023, thereby making them operative in perpetuity. By providing that a continuously appropriated fund may be spent for a new purpose, this bill would make an appropriation. The bill also would make nonsubstantive style changes.
The Public Employees Retirement Law, until January 1, 2023, provides a state safety member of the Public Employees Retirement System who retires for industrial disability a retirement benefit equal to the greatest amount resulting from 3 possible calculations. In this regard, the benefit amount is based on an actuarially reduced service retirement, a service retirement allowance, if the member is qualified, or 50% of the members final compensation, plus an annuity purchased with their accumulated contributions, if any. Existing law establishes the Public Employees Retirement Fund, which is a trust fund that is appropriated continuously for various purposes, including the payment of benefits.
This bill would delete the termination of these provisions on January 1, 2023, thereby making them operative in perpetuity. By providing that a continuously appropriated fund may be spent for a new purpose, this bill would make an appropriation. The bill also would make nonsubstantive style changes.
The Public Employees Retirement Law, until January 1, 2023, provides a state safety member of the Public Employees Retirement System who retires for industrial disability a retirement benefit equal to the greatest amount resulting from 3 possible calculations. In this regard, the benefit amount is based on an actuarially reduced service retirement, a service retirement allowance, if the member is qualified, or 50% of the members final compensation, plus an annuity purchased with their accumulated contributions, if any. Existing law establishes the Public Employees Retirement Fund, which is a trust fund that is appropriated continuously for various purposes, including the payment of benefits.
This bill would delete the termination of these provisions on January 1, 2023, thereby making them operative in perpetuity. By providing that a continuously appropriated fund may be spent for a new purpose, this bill would make an appropriation. The bill also would make nonsubstantive style changes.
A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:
(a)Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.
(b)A service retirement allowance, if the member is qualified for service retirement.
(c)An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.
(d)Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.
A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:
(a)Fifty percent of the members final compensation, plus an annuity purchased with their accumulated additional contributions, if any.
(b)A service retirement allowance, if the member is qualified for service retirement.
(c)An actuarially reduced factor, as determined by the actuary, for each quarter year that the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if the member is not qualified for service retirement.
(d)Nothing in this section shall require a member to receive a lower benefit than the member would have received prior to January 1, 2013, as the law provided prior to that date.
(a)A safety member who retires on or after January 1, 2013, for industrial disability shall receive a disability retirement benefit equal to the greater of the following:
(1)(a)Fifty percent of his or her the members final compensation, plus an annuity purchased with his or her their accumulated additional contributions, if any.
(2)(b)A service retirement allowance, if he or she the member is qualified for service retirement.
(3)(c)An actuarially reduced factor, as determined by the actuary, for each quarter year that his or her the members service age is less than 50 years, multiplied by the number of years of safety service subject to the applicable formula, if he or she the member is not qualified for service retirement.
(4)(d)Nothing in this section shall require a member to receive a lower benefit than he or she the member would have received prior to January 1, 2013, as the law provided prior to that date.
(b)This section shall remain in effect only until January 1, 2023, and as of that date is repealed, unless a later enacted statute that is enacted before January 1, 2023, deletes or extends that date.|
Date
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Status
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| Sep 18, 2022 | Chaptered by Secretary of State - Chapter 404, Statutes of 2022. |
| Sep 18, 2022 | Approved by the Governor. |
| Aug 30, 2022 | Enrolled and presented to the Governor at 4 p.m. |
| Aug 23, 2022 | In Assembly. Ordered to Engrossing and Enrolling. |
| Aug 23, 2022 | Read third time. Passed. Ordered to the Assembly. (Ayes 40. Noes 0. Page 4976.). |
| Aug 22, 2022 | Ordered to special consent calendar. |
| Aug 11, 2022 | From committee: Do pass. (Ayes 7. Noes 0.) (August 11). |
| Aug 2, 2022 | In committee: Referred to suspense file. |
| Jun 29, 2022 | From committee: Do pass and re-refer to Com. on APPR with recommendation: To Consent Calendar. (Ayes 5. Noes 0.) (June 29). Re-referred to Com. on APPR. |
| Jun 1, 2022 | Referred to Com. on L., P.E. & R. |
| May 26, 2022 | In Senate. Read first time. To Com. on RLS. for assignment. |
| May 25, 2022 | Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 4960.) |
| May 19, 2022 | Read second time. Ordered to third reading. |
| Apr 6, 2022 | In committee: Set, first hearing. Referred to suspense file. |
| Mar 16, 2022 | From committee: Do pass and re-refer to Com. on APPR. (Ayes 6. Noes 0.) (March 16). Re-referred to Com. on APPR. |
| Feb 3, 2022 | Referred to Com. on P.E. & R. |
| Jan 28, 2022 | From printer. May be heard in committee February 27. |
| Jan 27, 2022 | Read first time. To print. |
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Date
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Description
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Location
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Votes
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|---|---|---|---|---|
| Aug 23, 2022 | Special Consent AB1722 | Senate Floor |
Passed |
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| May 25, 2022 | AB 1722 Cooper Assembly Third Reading | Assembly Floor |
Passed |
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Bill Author
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