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Committee advances bill to raise trustee meeting stipends for public pension boards
Summary
AB 1619 would allow retirement boards (county, CalSTRS, CalPERS) to increase trustee meeting stipends from $100 to up to $320 per meeting, with supporters arguing the change modernizes compensation and broadens board diversity; the committee voted to pass the bill as amended.
AB 1619 was presented to the Assembly Committee on Public Employment and Retirement to increase trustee stipend limits for county retirement boards, the State Teachers' Retirement System (CalSTRS) and the Public Employees' Retirement System (CalPERS) from $100 to $320 per meeting, with a cap of five meetings per month and local approval required.
The presenter said the current $100 stipend has not been updated in nearly 40 years and argued the higher limit…
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