Terms Of Office. Public Officers Retirement. Resignations.

TERMS OF OFFICE. PUBLIC OFFICERS RETIREMENT. RESIGNATIONS. INITIATIVE CONSTITUTIONAL AMENDMENT. Limits persons elected or appointed to offices of Governor, Lieutenant Governor, Attorney General, Controller, Insurance Commissioner, Secretary of State, Superintendent of Public Instruction, State Treasurer, State Senator, member State Assembly, member Board of Equalization to two full terms; provides for automatic resignation of persons holding such offices for seeking, soliciting or accepting contributions for, other federal, state or local elected offices; requires persons elected to such offices on or after November 1, 1990, to participate in federal Social Security program; precludes accrual of other pension and retirement benefits, except vested rights. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This measure would result in an annual $1 million savings for the General Fund due to the termination of current members and prohibition of new legislative members and state constitutional officers from earning specified retirement benefits in the future. It would also result in unknown costs to local governments of several hundred thousand dollars during election years to hold special elections for legislative offices vacated by persons pursuing other federal, state, or local offices