BILL NUMBER: SB 526	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Walters

                        FEBRUARY 17, 2011

   An act relating to public employees' retirement.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 526, as introduced, Walters. Retirement.
   The Public Employees' Retirement Law creates the Public Employees'
Retirement System, which provides a defined benefit to its members
based on age at retirement, service credit, and final compensation.
   This bill would state the intent of the Legislature to enact
legislation that would establish a defined contribution plan for new
state employees.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  It is the intent of the Legislature to enact
legislation that would establish a defined contribution plan for new
state employees.