ACAX1 8 (Richman) – Mandatory Hybrid and DC Retirement Plans for New Public Employees

Assembly Bill

Would have required all state, school and local public employers to offer their new employees, beginning 7/1/07, the choice of hybrid or defined contribution retirement plans, and allowed current public employees to transfer money from their existing defined benefit retirement plan to the employer-sponsored retirement plan offered to new employees.

  • Version: Introduced 04/14/2005
  • Sponsor: Author
  • Location: Assembly
  • Board Position: N/A

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