The first California Senate hearing for AB 3252, which would permit the establishment of alternative defined contribution plans by public employers participating in the CalPERS and CalSTRS defined benefit systems, has been pushed back to July 1.
Mike D'Arelli, chief pension consultant to the California Assembly, said the retirement committee of the Senate had too much work on its June 24 agenda, when a public hearing on the bill originally was scheduled, and asked the bill's sponsor, Assemblyman Howard Kaloogian, whether he minded waiting a week. ``We were happy to oblige. It gives us another week to consolidate support,'' said Mr. D'Arelli.
Should the committee approve the bill, it would be reviewed by the Senate Appropriations Committee in August. The full Senate would not vote on the measure until fall at the earliest, said Mr. D'Arelli.