WEST SACRAMENTO, Calif. (April 15, 2019) – California State Teachers’ Retirement System announced that trustee Sharon Hendricks was elected to the PRI Association Board. As an independent organization, PRI encourages investors to use responsible investment to enhance returns and better manage risks.
Would have permitted a member of the Defined Benefit Program to retire for service on or after July 1, 1999, as early as age 55 without the reduction for early retirement, provided the member has at least five years of service credit and the sum of the member’s age and service credit is at least 85.
Would have authorized a school district to convert to a “home rule district”. Also would have established a procedure to grant home rule petitions to create new home rule school districts through the State Board of Education and specified that home rule school districts would be treated as charter schools.
Extends eligibility to receive service credit at retirement for unused sick leave to members of the Defined Benefit Program, who became members on and after July 1, 1980, and who retire on or after January 1, 1998.
Version: Chaptered (Chapter 1006, Statutes of 1998)
Establishes 175 days or 1,050 hours is the minimum standard considered ”full-time” for California community college counselors and librarians. Also clarifies the minimum full-time service requirement for adult education programs and part-time credit and non-credit and community college instructors.
Establishes Joint and Survivor Option 8, which allows a member to select more than one option beneficiary. Permits members to change from Option 4 or 5 to Option 6 or 7 under specified circumstances. Also grants that members, who have made a pre-retirement election of an option, will receive the greater of the benefit determined under either the option factors in place at the time of retirement or the option factors in place at the time of election.
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