2017 January

California (Alameda) — Reduced Benefits

Posted by StuartBuck in - -View All States - - on January 11, 2017 with Comments Off on California (Alameda) — Reduced Benefits

Law: AB 340 and trailer AB 197 enacting California Public Employees’ Pension Reform Act (PEPRA) of 2013

Type of reform:

Among other things, PEPRA eliminated the option—previously available to public employees under Government Code 20909—to purchase at cost up to five years of non-qualifying service credit, or “airtime”.  Airtime allowed the purchasers to increase their pension benefits upon retirement by increasing their years of service.  Read more…

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