You can amend your contract to eliminate or reduce certain benefits for employees hired after the effective date of the amendment to the contract only. The Retirement Law prohibits making benefits retroactive.
Benefits are applicable upon completion of an amendment to the contract only.
If the proposed benefit does not require an actuarial valuation, you may request the necessary documents from a CalPERS employer representative to proceed with the amendment to the contract. If the proposed benefit requires an actuarial valuation, the valuation must be conducted and cost analysis provided before you can proceed with the amendment to the contract. Only documents provided by CalPERS will be accepted. Please do not retype the Amendment to Contract or agreement documents. If the amendment to the contract changes the employees' rate of contribution, a secret ballot election among the employees affected is required.