LEGISLATURE. PARTICIPATION IN PUBLIC EMPLOYEES\u27 RETIREMENT SYSTEM.

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