Today's Law As Amended


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AB-1310 Public retirement systems: member statements: unfunded liability disclosure.(2017-2018)



As Amends the Law Today


SECTION 1.

 Section 7500.3 is added to the Government Code, to read:

7500.3.
 (a) The retirement board of a public retirement system shall disclose the unfunded liability and healthcare debt of the system on each member statement provided to members of the system.
(b) For purposes of this section, “public retirement system” means a state or local public employee retirement system but does not include a retirement system created by an entity described in Section 9 of Article IX of, or Section 4 or 5 of Article XI of, the California Constitution.