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| Omnibus State Government Trailer Bill |
| Bill #: AB 1389 |
Author: Assembly Budget Comm. |
| Version: Chaptered (Chapter 751, Statutes of 2008) |
Sponsor: Author |
| Location: Signed by Governor |
Board Position: Neutral |
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Bill Text/Status |
| Summary:
Increases the targeted non-vested purchasing power benefit from 80 percent to 85 percent, but gives the CalSTRS board authority to adjust that target between 80 percent and 85 percent based on long-term actuarial projections. Reduces state General Fund payments into the SBMA by $66 million in 2008-09, $70 million in 2009-10, $71 million in 2010-11, and $72 million in 2011-12 and thereafter. |
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