Section 24214.5 - [See Note] [Operative 7/1/2026] Postretirement compensation limitation(a)(1) Notwithstanding subdivision (f) of Section 24214, the postretirement compensation limitation that shall apply to the compensation paid in cash to the retired member for performance of retired member activities, excluding reimbursements paid by an employer for expenses incurred by the member in which payment of the expenses by the member is substantiated, shall be zero dollars ($0) during the first 180 calendar days after the most recent retirement of a member retired for service under this part.(2) For written agreements pertaining to the performance of retired member activities entered into, extended, renewed, or amended on or after January 1, 2014, the limitation in paragraph (1) shall also apply to payments made for the performance of retired member activities, including, but not limited to, those for participation in a deferred compensation plan; to purchase an annuity contract, tax-deferred retirement plan, or insurance program; and for contributions to a plan that meets the requirements of Section 125, 401(a), 401(k), 403(b), 457(b), or 457(f) of Title 26 of the United States Code when the cost is covered by an employer.(b) If the retired member has attained normal retirement age at the time the compensation is earned, subdivision (a) shall not apply and Section 24214 shall apply if the appointment has been approved by the governing body of the employer in a public meeting, as reflected in a resolution adopted by the governing body of the employer prior to the performance of retired member activities, expressing its intent to seek an exemption from the limitation specified in subdivision (a). Approval of the appointment may not be placed on a consent calendar. Notwithstanding any other provision of Division 10 (commencing with Section 7920.000) of Title 1 of the Government Code or any state or federal law incorporated by Section 7927.705 of the Government Code, the resolution shall be subject to disclosure by the entity adopting the resolution and the system. The resolution shall include the following specific information and findings: (1) The nature of the employment.(2) A finding that the appointment is necessary to fill a critically needed position before 180 calendar days have passed.(3) A finding that the member is not ineligible for application of this subdivision pursuant to subdivision (d).(4) A finding that the termination of employment of the retired member with the employer is not the basis for the need to acquire the services of the member.(c) Subdivision (b) shall not apply to a retired member whose termination of employment with the employer is the basis for the need to acquire the services of the member.(d) Subdivision (b) shall not apply if the retired member received additional service credit pursuant to Section 22714 or 22715 or received from any public employer any financial inducement to retire. For purposes of this section, "financial inducement to retire" includes, but is not limited to, any form of compensation or other payment that is paid directly or indirectly by a public employer to the member, even if not in cash, either before or after retirement, if the participant retires for service on or before a specific date or specific range of dates established by a public employer on or before the date the inducement is offered. The system shall liberally interpret this subdivision to further the Legislature's intent to make subdivision (b) inapplicable to members if the member received a financial incentive from any public employer to retire or otherwise terminate employment with a public employer.(e) The Superintendent, the county superintendent of schools, or the chief executive officer of a community college shall submit all documentation required by the system to substantiate the eligibility of the retired member for application of subdivision (b), including, but not limited to, the resolution adopted pursuant to that subdivision.(f) The documentation required by this section shall be received by the system prior to the retired member's performance of retired member activities.(g) Within 30 calendar days after the receipt of all documentation required by the system pursuant to this section, the system shall inform the entity seeking application of the exemption specified in subdivision (b), and the retired member whether the compensation paid to the member will be subject to the limitation specified in subdivision (a).(h) If a member retired for service under this part earns compensation for performing retired member activities in excess of the limitation specified in subdivision (a), the member's retirement allowance shall be reduced by the amount of the excess compensation. The amount of the reduction in an individual month shall be no more than the monthly allowance payable in that month, and the total amount of the reduction shall not exceed the amount of the allowance payable during the first 180 calendar days, after a member retired for service under this part.(i) The amendments to this section enacted during the first year of the 2013-14 Regular Session shall apply to compensation paid on or after January 1, 2014.(j) This section shall become inoperative on July 1, 2024, and shall become operative on July 1, 2026.Amended by Stats 2023 ch 885 (SB 765),s 4, eff. 1/1/2024.Amended by Stats 2021 ch 615 (AB 474),s 63, eff. 1/1/2022, op. 1/1/2023.Amended by Stats 2015 ch 123 (AB 991),s 26, eff. 1/1/2016.Amended by Stats 2014 ch 755 (SB 1220),s 39, eff. 1/1/2015.Amended by Stats 2013 ch 559 (AB 1381),s 30, eff. 1/1/2014.Amended by Stats 2013 ch 558 (AB 1379),s 33, eff. 1/1/2014.Amended by Stats 2012 ch 864 (AB 2663),s 14, eff. 1/1/2013.Amended by Stats 2012 ch 296 (AB 340),s 8, eff. 1/1/2013.Amended by Stats 2011 ch 703 (SB 349),s 27, eff. 1/1/2012.Amended by Stats 2010 ch 207 (AB 2260),s 20, eff. 1/1/2011.Added by Stats 2009 ch 306 (AB 506),s 3, eff. 1/1/2010.Stats 2023 ch 885 (SB 765)makes changes effective from only July 1, 2024 to June 30, 2026, inclusive, before reverting to existing law.This section is set out more than once due to postponed, multiple, or conflicting amendments.