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AB-2142 State Teachers’ Retirement System: service credit.(2009-2010)

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AB2142:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2009–2010 REGULAR SESSION

Assembly Bill No. 2142


Introduced  by  Assembly Member Gilmore

February 18, 2010


An act to amend Section 22703 of the Education Code, relating to the State Teachers’ Retirement System.


LEGISLATIVE COUNSEL'S DIGEST


AB 2142, as introduced, Gilmore. State Teachers’ Retirement System: service credit.
The State Teacher’s Retirement Law credits service performed by a member within the scheduled school year to the Defined Benefit Program under the State Teachers’ Retirement System. That law generally provides that any additional service performed by a member in excess of the service scheduled for a school year is credited to the Defined Benefit Supplement Program under that system.
This bill would make a technical, nonsubstantive change to that provision.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 22703 of the Education Code is amended to read:

22703.
 (a) Service shall be credited to the Defined Benefit Program, except as provided in subdivision (b).
(b) A member’s creditable service that exceeds 1.000 in a school year shall not be credited to the Defined Benefit Program. Commencing July 1, 2002, contributions by the employer and the member that are deposited in the Teachers’ Retirement Fund for creditable compensation paid to the member for service that exceeds 1.000 in a school year, exclusive of contributions pursuant to Section 22951, shall be credited to the Defined Benefit Supplement Program.
(c) In lieu of any other benefits provided by this part, any member who performed service prior to July 1, 1956, shall receive retirement benefits for that service at least equal to thesame benefits that the member would have received for that service under the provisions of this part as they existed on June 30, 1956. This subdivision shall not apply to service that is credited in the San Francisco Employees’ Retirement System.
(d) The amendments to this section made during the second year of the 1999–2000 Regular Session shall become operative on July 1, 2002, if the revenue limit cost-of-living adjustment computed by the Superintendent of Public Instruction for the 2001–02 fiscal year is equal to or greater than 3.5 percent. Otherwise the amendments to this section made during the second year of the 1999–2000 Regular Session shall become operative on July 1, 2003.