Teachers' Retirement Board sponsored bills AB 1480 (Mendoza) and AB 2390 (Karnette) were recently signed into law by the governor.

AB 1480 authorizes CalSTRS to offer a Roth IRA as part of its Pension2 Program. Over 4,200 members are currently participating in Pension2.

AB 2390 makes three changes to postretirement earnings:

• Extends end date of the postretirement earnings limit to June 30, 2010
• Extends some exemptions to members who retired on or before January 1, 2007
• Allows members who retired between June 1, 2007 and December 31, 2007 to purchase foreign service credit

The board supported AB 591 (Dymally) that was signed into law on July 10, 2008. Now California Community Colleges can hire temporary part-time employees to teach up to 67 percent, an increase of 7 percent, of the hours of a regular full-time employee.