Newly-hired California state employees will be transferred to either a defined contribution plan or a hybrid plan, as per two proposed bills, Pensions & Investments reports. Collective bargaining will also be no longer used to determine retirement benefits with the exception of employee contributions. The bills will affect the California Public Employees’ Retirement System and the California State Teachers’ Retirement System. The bills will also terminate pension plans for part-time locally elected officials and remove elected officials from CalPERS’ board.

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