Joint Hearing Senate Labor, Public Employment and Retirement and Assembly Public Employment and Retirement, Wednesday, March 4, 2026

California State Assembly Committee on Public Employment and Retirement (joint with the Senate Committee on Labor, Public Employment, and Retirement) · March 4, 2026

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Opening: purpose of joint hearing

PresentationAnnouncement

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Assemblymember McKenor opened the joint hearing of the Assembly Committee on Public Employment and Retirement and the Senate Committee on Labor, Public Employment, and Retirement, saying the hearing is required by law to receive an independent report from the California Actuarial Advisory Panel on CalPERS and emphasizing the pension promise to public employees.

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A joint Assembly-Senate hearing reviewed the California Actuarial Advisory Panel report and CalPERS actuarial assumptions, including the 6.8% discount rate and a 20-year amortization period; lawmakers questioned how current market volatility and policy shifts could affect contribution rates and funding. Public comment praised reforms.

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Transcript

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