2004 Legislation

Assembly Bill

AJR 79 (Chu) – Proposed SEC Shareholder Participation Rules

Requests the Securities and Exchange Commission (SEC) to implement its proposed shareholder participation rules in order to address the need for reform in corporate transparency and give shareholders access to the proxy

  • Version: Chaptered (Resolution Chapter 92, Statutes of 2004)
  • Sponsor: Secretary of State
  • Location: Chaptered by the Secretary of State
  • Board Position: Support

CalSTRS Analysis:

As Amended 5/20/04

Senate Bill

SB 102 (Burton) – Unused Sick Leave

Allows up to 2/10 of one year of unused sick leave to count toward qualifying for one-year final compensation, a longevity bonus and other benefit enhancements. Exempts Defined Benefit Program members and Cash Balance Benefit participants, called to uniformed service, from paying employee contributions, for up to one year.

  • Version: Chaptered (Chapter 911, Statutes of 2004)
  • Sponsor: Teachers’ Retirement Board, CTA
  • Location: Signed by Governor
  • Board Position: Sponsor

CalSTRS Analysis:

As Amended 8/17/2004

As Amended 1/26/2004

Senate Bill

SB 1137 (Burton) – Teachers’ Retirement Board Elections

Requires the retired member seat on the board be elected by retired members of the Defined Benefit Program and those receiving a disability allowance, and participants of the Cash Balance Benefit Program receiving annuity payments.

  • Version: Enrolled 8/17/2004
  • Sponsor: CRTA
  • Location: Vetoed by Governor
  • Board Position: N/A

CalSTRS Analysis:

As Amended 3/26/2004

As Introduced 1/20/2004

Senate Bill

SB 1632 (Figueroa) – Corporate Governance Reporting

Requires public pension systems in California to obtain specific information from corporations in which they invest related to their compliance with international standards relating to, and their violations of, public health and human rights standards, and requires the systems to report to the Legislature to the extent feasible.

  • Version: Amended 5/11/2004
  • Sponsor: Natural Heritage Institute, California Right to Know Coalition
  • Location: Senate
  • Board Position: N/A