Official Title and Summary Prepared by the Attorney
LEGISLATURE. PARTICIPATION IN PUBLIC EMPLOYEES' RETIREMENT SYSTEM.
Legislative Constitutional Amendment.

– Amends Constitution to allow members of the California Legislature the option to participate in the Public Employees' Retirement System.

– Allows any person elected or serving in the Legislature on or after November 1, 1990 to participate in any state retirement plan in which a majority of the employees of the State may participate.

– Only the employer's share of the contribution necessary for participation in such state retirement plans will be paid by the State.

– Requires members of the Legislature to continue to participate in the Federal Social Security System.

Summary of Legislative Analyst's Estimate of Net State and Local Government Fiscal Impact:

– Annual state costs under $1 million to provide retirement benefits to legislators, with these costs replacing other spending from the fixed annual amount provided in support of the Legislature. No net impact on state spending.