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CalPERS Board Adopts New Regs on Compensation Counted in Pension Formula
Liebert Cassidy Whitmore [Guidance Overview] Dec. 22, 2017
"There are items of compensation earnable for Classic Members that are not considered Pensionable Compensation for New Members.... Uniform pay for New Members ... is not pensionable compensation in any amount.... Employer-Paid Member Contributions (EPMC) is not pensionable compensation for New Members ... [B]onuses are not pensionable for New Members.... '[T]emporary upgrade pay' is not pensionable compensation for New Members ... [O]vertime hours that are built into the normal work schedule of the employee will only be pensionable for New Members who are in the local fire or local police membership classifications if it is pursuant to an FLSA 7(k) work schedule."
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