CalPERS to Vote on Expanding Pension Obligations
May 10, 2018
CalPERS will be voting on AB 1912 at its Finance and Administration Committee meeting on Tuesday, May 15. As highlighted in a previous article, AB 1912 is cause for great concern due to the massive liability it would impose on the current and former county members of joint powers authorities (JPAs). This applies to all retirement systems, not just CalPERS. Counties are encouraged to join CSAC at the hearing and urge the CalPERS Board to stay off the bill.
While both the Legislature and CalPERS Board have already heard extensively from CSAC and coalition partners (see coalition letter), they need to hear directly from their employer agency members on the harsh fiscal realities of AB 1912.
There is an opportunity to provide public comment at the May 15th hearing (see agenda), expected to start around 11am at the CalPERS Headquarters (400 P Street). Additionally or alternatively, counties can send a letter to the CalPERS Board of Administration specifically addressing how this legislation would impact their individual agencies.