May, 2013

03
May
2013

Legislative Alert May 2013

Categories: Legislative Updates

As mentioned in the last Alert, CalPERS was about to approve new actuarial policies related to amortization and smoothing that will have a significant impact on employers’ rates. On April 17, the Board adopted a policy intended to return the system to fully funded status over the next 30 years. Some have projected that employer contributions will rise by almost 50% over a five year period starting with the 2015/2016 fiscal year. Employee contributions are not affected.

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