Concerning the effect of expenditure reduction efforts on retirement benefits for public employees, including those participating in the shared work program.
Summary
Provides that specified public pensions will not be reduced as a result of compensation reductions that are part of a public employer's expenditure reduction efforts during the 2019-2021 and 2021-23 fiscal biennia.
Provides that the pension benefit of an employee covered by a pension system that is administered by the Department of Retirement Systems is not reduced as a result of participation in an unemployment insurance shared work program, retroactive to July 28, 2013.
From the House Bill Report (SB 5021), written by the Legislature's nonpartisan staff. Read the full report ↗
AN ACT Relating to the effect of expenditure reduction efforts on retirement benefits for public employees, including those participating in the shared work program;