California 2011-2012 Regular Session Status: In Committee

SB 520 — Public employees' retirement: hybrid plan.

Last action — Returned to Secretary of Senate pursuant to Joint Rule 56.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law creates the Public Employees' Retirement System which provides a defined benefit to its members based on age at retirement, service credit, and final compensation. This bill would require the Board of Administration of the Public Employees' Retirement System to create a hybrid retirement plan for public employees who become members on or after January 1, 2012, that offers a defined contribution plan and defined benefit plan for retirement for service and a defined benefit plan for retirement for disability or for death. The bill would prohibit those plans from creating a vested property right for the member with respect to any employer contributions before retirement, as specified. The bill would prohibit those members from being eligible to enroll in the defined benefit plan for retirement for service that existed before January 1, 2012.

Bill Text

Action History

  1. Returned to Secretary of Senate pursuant to Joint Rule 56.

  2. Set, first hearing. Hearing canceled at the request of author.

  3. Set for hearing May 2.

  4. Re-referred to Com. on P.E. & R.

  5. From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.

  6. Referred to Com. on RLS.

  7. From printer. May be acted upon on or after March 20.

  8. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

  • Runner · Cosponsor
  • Garrick · Cosponsor
  • Harkey · Cosponsor
  • Mansoor · Cosponsor
  • Silva · Cosponsor
  • Walters · Primary

Sponsorship breakdown

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1 sponsors · 5 co-sponsors · 116 not signed on

Sponsors (1)

  • Walters

Co-sponsors (5)

  • Runner
  • Garrick
  • Harkey
  • Mansoor
  • Silva

Not signed on (116)

116 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
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Frequently asked questions

What does SB 520 do?
Existing law creates the Public Employees' Retirement System which provides a defined benefit to its members based on age at retirement, service credit, and final compensation. This bill would require the Board of Administration of the Public Employees' Retirement System to create a hybrid retirement plan for public employees who become members on or after January 1, 2012, that offers a defined contribution plan and defined benefit plan for retirement for service and a defined benefit plan for retirement for disability or for death. The bill would prohibit those plans from creating a vested property right for the member with respect to any employer contributions before retirement, as specified. The bill would prohibit those members from being eligible to enroll in the defined benefit plan for retirement for service that existed before January 1, 2012.
Who sponsors SB 520?
SB 520 is sponsored by Runner, Garrick, Harkey, Mansoor, Silva, and Walters.
What is the current status of SB 520?
This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 520?
Track SB 520 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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