Topic: Retirement Security

Article PEPRA CalPERS

New law! Significant pension changes for CalPERS members start January 1

Classified employees with questions about the new Public Employees’ Pension Reform Act of 2013 may find answers on the Frequently Asked Questions page of the CalPERS website. Here are some answers to common questions.

The new law requires that new employees of public schools and community colleges contribute at least 50 percent of the total normal cost or the same contribution rate as “similarly situated” employees, whichever is higher.

California Teacher PEPRA Student debt CalPERS

New employees to face reduced retirement benefits

Workers not yet hired will take biggest hit under law passed by legislators with no input from public employee unions

A new law passed in the final hours of the legislative session makes sweeping changes to public employee pensions that impose most of the changes on workers not yet hired, creating a two-tier system in the workplace where two groups of workers doing the same work receive different retirement benefits.