Plain English Breakdown
The official text uses 'would authorize,' indicating this is a proposed change in the bill, though metadata notes it passed the legislature. The effective date is not provided.
Allowing Negotiations for Extra Pension Plans Under PEPRA
This law allows public employers in California to negotiate contributions for existing supplemental pension plans managed by unions, even though rules usually stop them from creating new ones or adding more workers.
What This Bill Does
- Allows public employers to bargain over money put into supplemental retirement benefits.
- Permits these negotiations only if the plan is run by a union or exclusive bargaining representative for one of the employer's worker groups.
- Keeps existing rules that stop employers from starting new extra pension plans after January 1, 2013.
- Maintains rules against adding new employee groups to old extra pension plans created before 2013.
Who It Names or Affects
- Public employers in California
- Unions or exclusive bargaining representatives for public workers
Terms To Know
- PEPRA
- The law that sets rules for how much money public employees get when they retire.
- Supplemental defined benefit plan
- An extra pension plan on top of the main retirement system.
Limits and Unknowns
- The bill does not say how much money can be added through these new negotiations.
- The text does not list which specific public employers must follow this rule, only that they are 'public employers' as defined by law.