Opinion No. (2006)

BILL LOCKYER Attorney General GREGORY L. GONOT Deputy Attorney General THE HONORABLE KEITH RICHMAN, MEMBER OF THE STATE ASSEMBLY, has requested an opinion on the following question: May the Board of Administration of the California Public Employees' Retirement System extend the payment schedule for retroactive benefits beyond the average remaining work period of the employees eligible to receive the benefits without violating the board's constitutional duties to provide secure benefits to its members, minimize costs to employers, assure the competency of the assets of the retirement system, and protect the employees' contractual rights to an actuarially sound retirement system? CONCLUSION The Board of Administration of the California Public Employees Retirement System may extend the payment schedule for retroactive benefits beyond the average remaining work period of the employees eligible to receive the benefits without violating the board's constitutional duties to provide secure benefits to its members, minimize costs to employers, assure the competency of the assets of the retirement system, and protect the employees' contractual rights to an actuarially sound retirement…