BILL ANALYSIS
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THIRD READING
Bill No: SB 1505
Author: Burton (D)
Amended: 8/25/00
Vote: 21
PRIOR SENATE VOTES NOT RELEVANT
ASSEMBLY FLOOR : 69-8, 8/28/00 - See last page for vote
SUBJECT : State Teachers' Retirement System: minimum
benefits
SOURCE : Author
DIGEST : Assembly Amendments deleted the prior version of
the bill relative to the recruitment of and incentives for
teachers.
This bill now expands eligibility for the minimum
guaranteed allowance enacted last year in SB 713 (Burton),
Chapter 632, Statutes of 1999, that is paid to retired
members of the State Teachers' Retirement System.
ANALYSIS : Existing law establishes a minimum annual
allowance for retired members of the State Teachers'
Retirement System (STRS) of $15,000 for those members with
20 years of credited service and increases that amount
incrementally per year of service to a maximum of $20,000
for those members with 30 or more years of credited
service. In order to be eligible for the minimum
allowance, the member had to be at least age 55 at
CONTINUED
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retirement and an active member at retirement.
This bill expands the eligibility of the minimum guaranteed
allowance to include retired STRS members who:
1.Retired before age 55.
2.Retired as an inactive member.
3.Retired by March 21, 1974 and had 19.5 years of service.
4.Retired on or after March 21, 1974 and has sufficient
unused sick leave to have a total of 20 years of service.
5.Were disabled prior to retirement, but would have had at
least 20 years of service had they worked to age 60.
FISCAL EFFECT : Appropriation: No Fiscal Com.: Yes
Local: No
STRS estimates that the bill will result in a one-time
present value cost of $89 million. STRS estimates that the
implementation costs of the bill will range between
$150,000 to $300,000.
SUPPORT : (Verified 8/29/00)
California Retired Teachers
United Teachers of Los Angeles
ASSEMBLY FLOOR :
AYES: Aanestad, Alquist, Aroner, Bates, Battin, Baugh,
Bock, Briggs, Calderon, Campbell, Cardenas, Cardoza,
Cedillo, Corbett, Correa, Cox, Cunneen, Davis, Dickerson,
Ducheny, Dutra, Firebaugh, Florez, Gallegos, Granlund,
Havice, Honda, Jackson, Keeley, Knox, Kuehl, Leach,
Lempert, Leonard, Longville, Lowenthal, Machado, Maddox,
Maldonado, Margett, Mazzoni, Migden, Nakano, Olberg,
Oller, Robert Pacheco, Rod Pacheco, Papan, Pescetti,
Reyes, Romero, Scott, Shelley, Steinberg, Strickland,
Strom-Martin, Thompson, Thomson, Torlakson, Villaraigosa,
Vincent, Washington, Wayne, Wesson, Wiggins, Wildman,
Wright, Zettel, Hertzberg
NOES: Ackerman, Ashburn, Baldwin, Brewer, House,
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3
Kaloogian, McClintock, Runner
DLW:cm 8/30/00 Senate Floor Analyses
SUPPORT/OPPOSITION: SEE ABOVE
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