The reforms proposed in Assembly Bill 340 (AB340) this summer (as previously reported by ACERA) were amended in September and then withdrawn entirely when the California State Legislature opted to convene a Joint Legislative Conference Committee on Public Employee Pensions in late October. The Committee, co-chaired by State Senator Gloria Negrete McLeod (D-Montclair) and South Bay Assemblyman Warren Furutani (also a Democrat), will hold its next public hearing on December 1 in Sacramento.
In addition, Governor Brown unveiled his “Twelve Point Pension Reform Plan” on October 27. Review the governor’s plan.
On November 8, the California Legislative Analyst’s Office, a non-partisan advisory office overseen by a joint legislative committee, published a report responding to the governor’s plan. The report can be accessed on the following web page by selecting either the link for PDF or HTML. Also available on the page is a seven-minute video summarizing key aspects of the report.
The governor’s plan is not pending legislation and will undergo deliberation in California’s legislature when it reconvenes in January, so ACERA cannot comment on its possible effects. However, ACERA, along with the State Association of County Retirement Systems, will continue to monitor the issue.