Under existing law, individuals retired under the Employees' Retirement System may return to work in a part-time capacity without suspension of his or her retirement allowance, provided the individual is subject to an annual earning limit. This bill would authorize any individual who has been retired under the Employees' Retirement System or the Teachers' Retirement System for at least 12 months to return to work for either system without suspension of his or her retirement benefits, with no regard for the annual earning limit, but would prohibit the individual from accruing additional retirement benefits. This bill would provide that such an individual must commit to employment for three consecutive years. This bill would also require the Board of Control to establish a percentage of earnable compensation that each individual returning to work pursuant to this bill must pay to support the administration of the retirement system.