SB 1983 (Soto) – Minor Program/Policy Changes
Allows a member of the Defined Benefit Program receiving an allowance under joint and survivor option 6 or 7 to name a new beneficiary after a member’s beneficiary dies. Changes the basis for calculating the post-retirement earnings limit from the All Urban California Consumer Price Index to the average earnable salary of active members from two years’ prior. Authorizes CalSTRS to invest in surplus land owned by school districts. Appropriates funds for the board to use in enhancing CalSTRS customer service.
- Version: Chaptered (Chapter 903, Statutes of 2002)
- Sponsor: CalSTRS, CTA
- Location: Signed by Governor
- Board Position: Sponsor
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