CalPERS released a set of federal legislative priorities this morning that are crucial to maintaining a viable retirement plan for ACSS members and thousands of other California state employees.

The priorities include supporting legislation that will:

• Maintain defined benefit retirement plans providing sound income replacement through a shared responsibility model between employer and employee;
• Reinforce the future of the Social Security system without reducing benefits to CalPERS members or other Americans;
• Expand workers' access to a defined benefit pension plan; and
• Encourage tax policies that help preserve pension plans and retirement savings accounts by allowing deferral of taxation of contributions and earnings until benefits are paid in retirement.

The full list contains twelve priorities in all: http://www.calpers.ca.gov/index.jsp?bc=/about/press/pr-2011/april/pers-adopts-fed-leg.xml

According to the governor's proposed budget, California state employee benefits and pensions account for less than 3.5% of the state's total annual expenditures yet they are under fire at a time when public servants have already accepted 8 to 10 percent pay cuts.

As always, ACSS will continue to monitor and keep you apprised of legislation that will impact current benefits for excluded employees.