Public Pension Legislation Vetoed

AB 1987/ SB 1425—Public Retirement: final compensation: computation: Retirees

October 1, 2010 - On Thursday, September 30, Governor Schwarzenegger vetoed Assembly Bill 1987 and Senate Bill 1425, which were companion bills addressing rules governing public pension systems in California - so neither bill will take effect. In his statement to the State Assembly regarding the vetoed bills, the governor indicated that he hopes the Legislature will send him related legislation in the future that will provide for consistent treatment of all employees' compensation.

The California State Legislature began its scheduled recess after adjournment on August 31, and will begin its new session during the first week of January.

For more information on the vetoed bills, read ACERA's news updates from July 2010.