Pension Reform For Public Employees

  • Increasing the retirement age for new employees depending on their job
  • Places a cap on the annual payout at $132,120
  • Eliminates numerous abuses of the system
  • Requires workers who are not contributing half of their retirement costs to pay more
  • Membership was established prior to January 1, 2013, but was rehired by a different eligible employer after a break in service of more than six months.
  • A new hire who gains membership for the first time on or after January 1, 2013, and who has no prior membership in any California public retirement system.
  • A new hire who establishes membership for the first time on or after January 1, 2013, and who is not eligible for reciprocity with another California public retirement system.

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Sterling National Financial Group

Sterling National Financial Group

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The principals at Sterling National Financial Group, LLC have pledged to provide financial solutions to our customers through smart planning and sound advice.