Plain English Breakdown
The official status indicates the bill passed both chambers and reached final enrollment as of June 30, 2026, but no specific effective date is listed in the provided metadata.
Increasing Meeting Pay for Public Retirement Board Members
This law raises the maximum payment that members of state and county public retirement boards can receive from $100 to $320 for attending meetings.
What This Bill Does
- Increases the meeting attendance rate for Teachers' Retirement Board members from $100 to $320.
- Raises the maximum payment for Public Employees' Retirement System board members from $100 to $320 per meeting.
- Allows county retirement boards and investment boards to raise their member compensation limit from $100 to $320 per meeting, subject to approval by the local board of supervisors.
- Requires Los Angeles County retirement and investment boards to follow a new process before raising pay to the $320 limit.
Who It Names or Affects
- Members of the Teachers' Retirement Board
- Members of the Public Employees' Retirement System board
- County, city, and district retirement board members under the County Employees Retirement Law of 1937
- Board of supervisors in counties that choose to adopt the new pay rate
Terms To Know
- Defined Benefit Program
- A retirement plan where benefits are calculated based on final compensation, credited service, and age at retirement.
- Cash Balance Benefit Program
- A retirement plan for employees who provide creditable service for less than 50% of full time.
Limits and Unknowns
- The new $320 rate does not automatically apply in counties; it requires a public notice and a majority vote by the local board of supervisors.
- Los Angeles County must also hold a public notice and get approval from its board of supervisors before the higher pay takes effect.