By: Liebert, Cassidy, Whitmore
On August 8, 2024, the California Public Employees’ Retirement System ("CalPERS") issued Circular Letter No. 200-037-24 ("Circular Letter"), setting forth guidance concerning reporting Holiday Pay for CalPERS classic members and new members. The Circular Letter, which departs from and supersedes the previous guidance in Circular Letter No. 200-064-17, provides that Holiday Pay is not reportable for new members where they have the ability to receive holiday banks that can be used as leave or cashed out.
Liebert Cassidy Whitmore attorneys are closely monitoring developments in relation to this Special Bulletin and are able to advise on the impact this could have on your organization. If you have any questions about this issue, please contact our Los Angeles, San Francisco, Fresno, San Diego, or Sacramento office.
To view this Special Bulletin in its entirety, please click here or copy and paste this URL: https://bit.ly/3M6B33t
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