Changes to county pension formulas is just one of a handful of changes approved by the Senate on Monday. Under the new formula, bonuses and some unused leave cannot be calculated as salary, and will thereby no longer factor into pension annuities.

Other changes in store include a mandatory waiting period between the departure of an official and when that official can return to the same job as a contractor. The bill is in response to various stories that have emerged over the last year of officials “double dipping,” earning their pension and a healthy salary as a contractor doing their former jobs.

The new measures would affect 20 county pensions that operate independent of CalPERS.

From the Sacramento Bee:

Independent county government pension boards in California will have to stop counting bonuses and some unused leave cash outs when calculating pensions, according to a measure that Senators passed without opposition today.

Assembly Bill 340 also curbs retiree “double dipping” in those so-called “37 Act Counties” by mandating a waiting period between the time they leave service and when they could return to their former jobs.

The bill, authored by Assemblyman Warren Furutani, D-Gardena, cleared the Senate 35-0 and is now back with the Assembly for a concurrence vote on tweaks made in the upper chamber. Assuming the Assembly signs off, the measure would go on to Gov. Jerry Brown’s desk.

Read the full article here.