Plain English Breakdown
The bill does not specify an exact effective date or adjustment start date.
Orange County Retirement Board Meeting Compensation
AB-1323 allows the board of retirement in Orange County to increase meeting compensation for its members from a maximum of $100 to up to $320 per meeting, with yearly adjustments not exceeding 5%.
What This Bill Does
- Allows the board of retirement in Orange County to set higher meeting pay for its members.
- Sets a new limit of up to $320 per meeting for these members in Orange County.
- Permits annual increases of no more than 5% after the last adjustment date.
Who It Names or Affects
- The board of retirement in Orange County
- Retirement board members in Orange County
Terms To Know
- Board of Supervisors
- The group that makes decisions for a county, like Orange County.
- Retirement Board Members
- People who are part of the board responsible for managing retirement systems in Orange County.
Limits and Unknowns
- This bill only affects Orange County and its retirement system.
- The exact amount of future increases is not set, but they can't go up by more than 5% each year.