WEST SACRAMENTO, Calif. (April 15, 2019) – California State Teachers’ Retirement System announced that trustee Sharon Hendricks was elected to the PRI Association Board. As an independent organization, PRI encourages investors to use responsible investment to enhance returns and better manage risks.
Limits the salary on which the retirement benefit of any new CalSTRS member is based to 125 percent of the California State Governor’s salary as of December 2009, adjusted annually.
Prohibits a person, as defined, that is involved in investment activities in the energy sector in Iran, from entering into a contract with a public entity for goods and services. Stipulates that a state agency must require a company that submits a bid to self-certify that it is not a scrutinized person. Permits termination of a contract for false certification and requires the Attorney General to determine whether to bring civil actions to recover costs.
Version: Chaptered (Chapter 573, Statutes of 2010)
Prohibits a person from acting as a placement agent in connection with any potential investment made by a state public retirement system unless that person is registered as a lobbyist and is in full compliance with the Political Reform Act of 1974, as that act applies to lobbyists.
Version: Chaptered (Chapter 668, Statutes of 2010)
Sponsor: CalPERS, State Controller, State Treasurer
Prohibits a person employed by the state whose base salary on or after the effective date of the bill is greater than $150,000 per year from receiving a salary increase while employed in the same position or classification.
Provides that the Teachers’ Retirement Board member that is either a retired member of the Defined Benefit Program or a retired participant of the Cash Balance Benefit Program be elected by retired members and participants.
Requires all state agencies, and specifically, the Department of General Services and the Office of the State Chief Information Officer, to post specified audits and contracts to the state’s Reporting Transparency in Government web site. In addition, requires the Governor’s Office to post every Statement of Economic Interest and travel expense claim for its senior staff, agency secretaries and undersecretaries and department heads to the same web site.
Requires the board, beginning January 1, 2012, to report annually to the Legislature the ethnicity and gender of emerging investment managers, as defined, who participate in managing its investment portfolio. Requires the board to develop and include in the report plans and strategies to increase the participation of emerging investment managers until they manage at least 10 percent of the board’s actively managed portfolio.
Makes a technical, nonsubstantive change to the provisions that require service in excess of 1.000 year be credited to the Defined Benefit Supplement Program, as they apply to members who performed service prior to July 1, 1956.
Makes various technical and conforming changes to the Teachers’ Retirement Law to facilitate efficient administration of the State Teachers’ Retirement Plan.
Version: Chaptered (Chapter 207, Statutes of 2010)
Establishes the California Financial Literacy Fund in the State Treasury and authorizes the Controller to administer the fund for the purposes of supporting partnerships with the financial services community and governmental and nongovernmental stakeholders to improve California’s financial literacy.
Enacts the Smart Regulation Act, which requires a state agency to determine how many regulations it imposes and reduce the total number of regulations it has identified. Also requires that any new regulation proposed by an agency also eliminate another regulation.
Revises the transfer dates of General Fund revenue to the Supplemental Benefit Maintenance Account in the Teachers’ Retirement Fund, and specifies that each payment be 50 percent of the annual appropriation. Also establishes dates for the quarterly payments to the Teachers’ Retirement Fund for the Defined Benefit Program, which is continuously appropriated from the General Fund.
Version: Chaptered (Chapter 1, Statutes of 2010, Eighth Extraordinary Session)
Among other things, amends Government Code Section 16324 to delete an extraneous cross reference to CalSTRS, thereby removing CalSTRS from the provisions established by Section 16324, as added by Chapter 1, Statutes of 2010, Eighth Extraordinary Session.
Version: Chaptered (Chapter 10, Statutes of 2010, Eighth Extraordinary Session)
Prohibits state employees whose base salary is greater than $150,000 per year, until January 1, 2013, from receiving a salary increase in the same position or classification.
Requires elected members of the Teachers’ Retirement Board to be subject to the Political Reform Act of 1974. Revises the definitions of “elective office” and “elective state office,” thereby subjecting those candidates and committees to the reporting requirements of the Act.
Provides that any change in salary, compensation or remuneration made for the principal purpose of enhancing a member’s benefits is not included in the calculation of a member’s final compensation when determining the member’s defined benefit.
Revises the transfer dates of General Fund revenue to the Supplemental Benefit Maintenance Account in the Teachers’ Retirement Fund, and specifies that each payment be 50 percent of the annual appropriation. Also establishes dates for the quarterly payments to the Teachers’ Retirement Fund for the Defined Benefit Program, which is continuously appropriated from the General Fund.
AB 194 (Torrico) – Retirement Benefit Limit
Limits the salary on which the retirement benefit of any new CalSTRS member is based to 125 percent of the California State Governor’s salary as of December 2009, adjusted annually.
CalSTRS Analysis:
As amended 8/27/2010
AB 1650 (Feuer) – Public Contracts: Investing in Iranian Energy Sector
Prohibits a person, as defined, that is involved in investment activities in the energy sector in Iran, from entering into a contract with a public entity for goods and services. Stipulates that a state agency must require a company that submits a bid to self-certify that it is not a scrutinized person. Permits termination of a contract for false certification and requires the Attorney General to determine whether to bring civil actions to recover costs.
AB 1743 (Hernandez) – Placement Agents
Prohibits a person from acting as a placement agent in connection with any potential investment made by a state public retirement system unless that person is registered as a lobbyist and is in full compliance with the Political Reform Act of 1974, as that act applies to lobbyists.
CalSTRS Analysis:
As amended 8/17/2010
As amended 3/17/2010
AB 1764 (Portantino) – State Employee Salary Freeze
Prohibits a person employed by the state whose base salary on or after the effective date of the bill is greater than $150,000 per year from receiving a salary increase while employed in the same position or classification.
AB 1862 (Eng) – Teachers’ Retirement Board Election
Provides that the Teachers’ Retirement Board member that is either a retired member of the Defined Benefit Program or a retired participant of the Cash Balance Benefit Program be elected by retired members and participants.
CalSTRS Analysis:
As introduced 2/12/2010
AB 1899 (Eng) – Reporting Transparency in Government Website
Requires all state agencies, and specifically, the Department of General Services and the Office of the State Chief Information Officer, to post specified audits and contracts to the state’s Reporting Transparency in Government web site. In addition, requires the Governor’s Office to post every Statement of Economic Interest and travel expense claim for its senior staff, agency secretaries and undersecretaries and department heads to the same web site.
AB 1913 (Davis) – Emerging Investment Managers
Requires the board, beginning January 1, 2012, to report annually to the Legislature the ethnicity and gender of emerging investment managers, as defined, who participate in managing its investment portfolio. Requires the board to develop and include in the report plans and strategies to increase the participation of emerging investment managers until they manage at least 10 percent of the board’s actively managed portfolio.
AB 2142 (Gilmore) – CalSTRS Service Credit
Makes a technical, nonsubstantive change to the provisions that require service in excess of 1.000 year be credited to the Defined Benefit Supplement Program, as they apply to members who performed service prior to July 1, 1956.
AB 2260 (PER&SS) – Technical Housekeeping
Makes various technical and conforming changes to the Teachers’ Retirement Law to facilitate efficient administration of the State Teachers’ Retirement Plan.
AB 2337 (Ammiano) – Predatory Investment Practices
Prohibits CalSTRS and CalPERS from investing funds in a company engaged in predatory investment practices, as defined, within rent-regulated housing.
AB 2457 (Salas) – Financial Literacy
Establishes the California Financial Literacy Fund in the State Treasury and authorizes the Controller to administer the fund for the purposes of supporting partnerships with the financial services community and governmental and nongovernmental stakeholders to improve California’s financial literacy.
CalSTRS Analysis:
As amended 5/28/2010
AB 2603 (Gaines) – State Agency Regulations
Enacts the Smart Regulation Act, which requires a state agency to determine how many regulations it imposes and reduce the total number of regulations it has identified. Also requires that any new regulation proposed by an agency also eliminate another regulation.
ABX8 5 (Budget) – Change in General Fund Payment Dates
Revises the transfer dates of General Fund revenue to the Supplemental Benefit Maintenance Account in the Teachers’ Retirement Fund, and specifies that each payment be 50 percent of the annual appropriation. Also establishes dates for the quarterly payments to the Teachers’ Retirement Fund for the Defined Benefit Program, which is continuously appropriated from the General Fund.
ABX8 14 (Budget) – Modification of General Fund Payment Dates
Among other things, amends Government Code Section 16324 to delete an extraneous cross reference to CalSTRS, thereby removing CalSTRS from the provisions established by Section 16324, as added by Chapter 1, Statutes of 2010, Eighth Extraordinary Session.
ABX8 33 (Portantino) – State Employee Salary Freeze
Prohibits state employees whose base salary is greater than $150,000 per year, until January 1, 2013, from receiving a salary increase in the same position or classification.
SB 1007 (Hancock) – Elected Board Members: Political Reform Act
Requires elected members of the Teachers’ Retirement Board to be subject to the Political Reform Act of 1974. Revises the definitions of “elective office” and “elective state office,” thereby subjecting those candidates and committees to the reporting requirements of the Act.
SB 1271 (Romero) – Retirement Board Conflicts of Interest
Codifies CalPERS’ conflict of interest regulations and makes them applicable to all California public retirement boards.
SB 1425 (Simitian) – Determination of Final Compensation
Provides that any change in salary, compensation or remuneration made for the principal purpose of enhancing a member’s benefits is not included in the calculation of a member’s final compensation when determining the member’s defined benefit.
CalSTRS Analysis:
As amended 8/19/2010
As amended 5/4/2010
SBX8 5 (B&FR) – Change in General Fund Payment Dates
Revises the transfer dates of General Fund revenue to the Supplemental Benefit Maintenance Account in the Teachers’ Retirement Fund, and specifies that each payment be 50 percent of the annual appropriation. Also establishes dates for the quarterly payments to the Teachers’ Retirement Fund for the Defined Benefit Program, which is continuously appropriated from the General Fund.