Fire and Police Pension Association Statewide Plan Election Approval Standard

Police Officers' and Firefighters' Pension Reform Commission.

Current law specifies that an employer in a statewide pension plan administered by the fire and police pension association may modify its status in the plan through a vote of the members of the plan. In some cases, a modification must be approved by 65% of the members employed by the employer, and in other cases, a modification must be approved by 65% of the members employed by the employers who vote in the election for the modification. The bill creates a uniform approval standard by requiring that any modifications be approved by 65% of the members employed by the employer who vote in the election for the plan modification.

(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)