Introduced by Rep. Douglas Geiss (D) on July 21, 2010, to prohibit new city employees from being enrolled in a defined benefit pension system that pays retirement benefits more than 55 percent of their “base pay.” (This would not necessarily limit additional post-retirement health benefits.) “Base pay” would not include overtime, accrued sick or vacation pay, bonuses, the value of active employee health insurance or other fringe benefits, or any lump sum payments. These provisions would not apply to employees hired before the bill goes into effect if passed.
Referred to the House Intergovernmental, Urban And Regional Affairs Committee on July 21, 2010.
1) Re: 2010 House Bill 6332 (Limit new government employee "pension spiking" ) by dreimel on September 9, 2010
Thank you Doug Geiss. This is a very interesting idea. I hope it gets out of committee
2) 2010 House Bill 6332 (Limit new government employee "pension spiking" ) by admin on January 1, 2001 Introduced in the House on July 21, 2010