SDCTA Backgrounder: Review of California Public Employees' Pension Reform Act of 2013
Prior to the end of the 2012 legislative session, Governor Brown met with Democratic leaders in the legislature to come up with a series of reforms to the current pension system. Many of the reforms outlined within the negotiated deal do not match with the Governor's initial reforms that were released in October 2011. Despite these exclusions, Assembly Bill (AB) 340, otherwise known as the California Public Employees' Pension Reform Act of 2013, was passed by the California legislature on August 31, 2012, and signed by the Governor on September 12, 2012. The law will become effective on January 1, 2013.