Public employees' retirement: State Bargaining Unit 5: contribution rates.

The Public Employees' Retirement Law (PERL) provides a comprehensive set of rights and benefits based upon age, service credit, and final compensation for members of the Public Employees' Retirement System. PERL provides that the contribution rate for state miscellaneous members and specified state industrial members who are represented by State Bargaining Unit 5 (Highway Patrol) is 11% of compensation in excess of $317 per month paid to a member whose service is not included in the federal system and 10% of compensation in excess of $513 per month paid to that member whose service has been included in the federal system. This bill would reduce the contribution rates of state miscellaneous and state industrial members, who are represented by State Bargaining Unit 5, by 3%. The bill would also make technical changes, including deleting an identical provision.