California Education Code

§ 22002.5

EDC § 22002.5 Effective Jun 24, 2014Div. 1 · Title 1 · Part 13 · Ch. 1

Statute text

The Legislature finds and declares all of the following:

(a)The current and projected assets of the State Teachers’ Retirement Plan administered by the State Teachers’ Retirement System with respect to the Defined Benefit Program are insufficient to meet the obligations of that program already accrued or projected to be accrued in the future with respect to service credited to members of that program before July 1, 2014.

(b)Various legal rulings have determined that vested contractual rights of existing members generally cannot be changed without providing a comparable new advantage.

…

Legislative history

Added by Stats. 2014, Ch. 47, Sec. 1. (AB 1469) Effective June 24, 2014. Adding action may become inoperative under conditions prescribed by Stats. 2014, Ch. 47, Sec. 13, subd. (b).