PEPRA (A.B. 340)

PEPRA Amendments Proposed-Update

Four Bills have been introduced proposing to amend AB340 and PEPRA rules

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California Actuarial Advisory Panel Request for Legislation to Address Certain Aspects of Pension Reform (Assembly Bill 340) 11/5/2012

The California Actuarial Advisory Panel has written to Legislative Committees in support of Pension Reform (PEPRA) but identifying certain areas where clarification and amendment is needed. The letter details 6 areas of uncertainty and makes recommendations for each. Request for Legislation to Address Certain Aspects of Pension Reform

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Creation of Two New Risk Pools due to the Public Employees’ Pension Reform Act 11/14/12

CalPERS staff has recommended to the CalPERS Board that two new risk pools be created in response to PEPRA. Risk pools apply to plans of employers with less than 100 active members. One risk pool would be created for new miscellaneous members subject to PEPRA’s 2% at 62 formula, and the second would be for new safety members subject to any of the new PEPRA benefit formulas. This proposal will be considered at the Pension and Health Benefits Committee meeting November 14, 2012.

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PEPRA Summary for CalPERS Agencies 10/2012

Issues & projections of effects on future contributions.

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Social Security Releases 2013 Benefit Amounts 10/24/12

Social Security benefits increase 1.7%, and the taxable Wage Base for 2013 is $113,700.

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Governor Brown Signs Bipartisan Pension Reform Bill 9/12/2012

The governor has signed into law a pension reform bill.

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John Bartel Speaks at Public Retirement Journal’s Seminar 9/19/2012

Presentation available in PDF on the Articles page.

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