The Public Employees' Retirement Law (PERL) provides for the preservation of the purchasing power of benefits through a system of adjustments in benefits based on changes in living costs. Existing law also establishes provisions to ensure the federal tax-exempt status of the system and to preserve the deferred treatment of federal income tax on public employer contributions to public employee pensions. Existing federal law limits the amount a defined benefit plan may pay a participant annually, and requires that this limitation be adjusted annually by regulation to account for increases in the cost of living.
The Public Employees' Retirement Law (PERL) provides for the preservation of the purchasing power of benefits through a system of adjustments in benefits based on changes in living costs. Existing law also establishes provisions to ensure the federal tax-exempt status of the system and to preserve the deferred treatment of federal income tax on public employer contributions to public employee pensions. Existing federal law limits the amount a defined benefit plan may pay a participant annually, and requires that this limitation be adjusted annually by regulation to account for increases in the cost of living.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.