CalPERS to Hold Public Hearing August 19 on Pensionable Compensation for New Members
August 13, 2014
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Amy Morgan, Information Officer
SACRAMENTO, CA – The California Public Employees' Retirement System (CalPERS) Board of Administration will hold a public informational hearing on draft regulations that define pensionable compensation for new members, with the implementation of the Public Employees' Pension Reform Act (PEPRA).
The proposed new regulation is intended to clarify the types of pensionable compensation items that state, public agencies, and school employers report to CalPERS as part of a new member's retirement benefit. The most common items excluded as pensionable for new PEPRA members are bonuses, uniform allowance, and any ad hoc payments. Members who were hired on or after January 1, 2013 are considered new members under PEPRA.
Compensation that is reportable for classic members is unaffected under the new regulation.
The hearing will take place on August 19, 2014 at 9:30 a.m. in the CalPERS Lincoln Plaza North auditorium at 400 P Street in Sacramento, California. The hearing will also be webcast live at www.calpers.ca.gov.
Pension and Health Benefits Committee August 19 Board Agenda
Notice of Proposed Regulatory Action (PDF)
California Regulatory Notice Register 2014 (PDF)
Summary of Public Comments (PDF)
Original Comments and Responses (PDF)
Proposed PEPRA Regulation (PDF)