SB 853: Public employees’ retirement.

The bill amends several laws related to public retirement systems in California. It clarifies the authority of the Teachers' Retirement Board to determine employers and members under the Teachers' Retirement Law. The bill also revises provisions related to part-time employees, reducing the requirement for termination of part-time work arrangements. Additionally, the bill updates provisions related to the Public Employees' Retirement Law, including the definition of pensionable compensation and the calculation of final compensation. It also revises provisions related to the County Employees Retirement Law of 1937. The bill provides for changes to the transfer of funds between the General Fund and the Teachers' Retirement Fund, and updates procedures for recovering overpaid amounts due to errors.<br>The bill proposes to revise a provision regarding service before January 1, 2013, specifyi…