BILL NUMBER: AB 2606	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  MARCH 29, 2012

INTRODUCED BY   Assembly Member Mendoza

                        FEBRUARY 24, 2012

   An act to amend Section  21623   21623.6
 of the Government Code, relating to public employees'
retirement.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 2606, as amended, Mendoza. Public employees' retirement:
postretirement death benefits.
   The Public Employees' Retirement Law requires that, upon the death
of any state or school member after retirement and while receiving a
retirement allowance, the sum of $2,000 be paid to the member's
designated beneficiary, except as specified.  Existing law
requires, when a school employer elects by contract, that the amount
paid to the beneficiary be $3,000, $4,000, or $5,000, whichever
amount is designated in its contract.  
   This bill would require that the amount paid be $4,000 for a death
occurring from January 1, 2013, to December 31, 2013, inclusive, and
would increase that amount each year by $500 until April 1, 2017, at
which point the amount would be $6,000, and would be adjusted
annually, as specified.  
   This bill would make technical, nonsubstantive changes to that
provision. 
   Vote: majority. Appropriation: no. Fiscal committee:  no
  yes  . State-mandated local program: no.


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

   SECTION 1.    Section 21623.6 of the   
 Government Code   is amended to read: 
   21623.6.  (a) In lieu of benefits provided by Sections 21620,
21622, and 21623, upon the death of any school member, after
retirement and while receiving a retirement allowance from this
system, there shall be paid to the beneficiary whom he or she shall
nominate by written designation duly executed and filed with the
board,  the sum of three thousand dollars ($3,000), four
thousand dollars ($4,000), or five thousand dollars ($5,000),
whichever amount is designated by the employer in its contract,
  an amount  to be provided from contributions by
the employer  .   as follows:  
   (1) The sum of four thousand dollars ($4,000) for a death
occurring from January 1, 2013, to December 31, 2013, inclusive.
 
   (2) The sum of four thousand five hundred dollars ($4,500) for a
death occurring from January 1, 2014, to December 31, 2014,
inclusive.  
   (3) The sum of five thousand dollars ($5,000) for a death
occurring from January 1, 2015, to December 31, 2015, inclusive.
 
   (4) The sum of five thousand five hundred dollars ($5,500) for a
death occurring from January 1, 2016, to December 31, 2016,
inclusive.  
   (5) The sum of six thousand dollars ($6,000) for a death occurring
from January 1, 2017, to March 31, 2017, inclusive.  
   (6) For a death occurring on or after April 1, 2017, the amount
shall be adjusted annually in the same manner as monthly allowances
subject to Sections 21313 and 21329. 
   (b) For the purposes of this section, all contributions,
liabilities, actuarial interest rates, and other valuation factors
shall be determined on the basis of actuarial assumptions and methods
that, in the aggregate, are reasonable and that, in combination,
offer the actuary's best estimate of anticipated experience under the
system.
   (c) The additional employer contributions required under this
section shall be computed as a level percentage of member
compensation.
   (d) This section shall  not  apply to  a
  any  school employer  unless and until it
elects to be subject to this section by amendment to its contract
made in the manner prescribed for approval of contracts or, in the
case of contracts made on or after January 1, 2001, except by express
provision in the contract making the school employer subject to this
section.   and any retired school member whose death
after retirement occurs on or after January 1, 2001. This section
shall not apply to any contracting agency or local member, except
those contracting agencies that are school employers and those school
districts or community college districts as defined in subdivision
(i) of Section 20057.  
  SECTION 1.    Section 21623 of the Government Code
is amended to read:
   21623.  (a) In lieu of benefits provided by Section 21620 or
21622, upon the death of any retired state or school member, after
retirement and while receiving a retirement allowance from this
system, there shall be paid to the beneficiary whom he or she shall
nominate by written designation duly executed and filed with the
board, the sum of two thousand dollars ($2,000), to be provided from
contributions by the employer.
   (b) For the purposes of this section, all contributions,
liabilities, actuarial interest rates, and other valuation factors
shall be determined on the basis of actuarial assumptions and methods
that, in the aggregate, are reasonable and that, in combination,
offer the actuary's best estimate of anticipated experience under
this system.
   (c) The additional employer contributions required under this
section shall be computed as a level percentage of member
compensation.
   (d) This section shall apply to any school employer and any
retired school member whose death after retirement occurs on or after
January 1, 2001. This section shall not apply to any contracting
agency or local member, except those contracting agencies that are
school employers and those school districts or community college
districts as defined in subdivision (i) of Section 20057.