Legislators' Retirement System Retirement Benefits Administered
by CalPERS, the Legislators' Retirement System (LRS) was
established in 1947 and covers members of the Legislature
serving prior to November 7, 1990, elected Constitutional
Officers, and Legislative Statutory Officers. (Under Proposition
140, members of the Senate and Assembly first elected on or
after November 7, 1990 participate in the federal Social
Security program and no other retirement system.) The LRS offers
a "defined benefit" plan which provides benefits that are
calculated using a defined formula, rather than contributions
and earnings to a savings plan. Retirement benefits are based
three separate formulas that are totaled together to determine
the retirement benefit amount. The formulas are based on the
member's years of service and salary. There are two types of
retirement offered: - Service retirement or "normal" retirement
- Disability retirement for members who can no longer perform
their jobs due to illness or injury. The LRS al