On September 12, 2012, Governor Brown signed AB 340, the Public Employees Pension Reform Act (PEPRA). The bill makes many changes to the pensions of public service workers in California - including LACERA members; however, most of them are for future hires (those hired on or after December 1, 2012) and DO NOT impact current employees.
The following describes the impact of PEPRA on current employees and new hires:
IMPACT OF PEPRA ON CURRENT EMPLOYEES: