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.
Beginning August 1, 2013, and through 2017, requires the board to annually participate in a legislative hearing on the ethnicity and gender of the investment managers who participate in managing their portfolios and on the ethnicity and gender of the brokerage firms that provide brokerage services.
Changes the postretirement earnings limit to one-half of the median final compensation of all recently retired members. Excludes an employee of a third party, as specified, from the postretirement employment requirements. Extends a narrowly applied exemption for one year, with additional requirements for substantiating eligibility. These changes would apply to the 2012-13 fiscal year. Allows service retired members who reinstate on or after July 17, 2012, to re-retire within a year of reinstating and requires those members to keep the same option and beneficiaries, or unmodified benefit, that were in effect before reinstatement for one year after reinstatement.
Version: Chaptered (Chapter 135, Statutes of 2012)
Makes various changes to California public employee pension systems through the enactment of the California Public Employees’ Pension Reform Act of 2013.
Version: Chaptered (Chapter 296, Statutes of 2012)
Requires a lessee of state lands, who files with the State Lands Commission a written request for the commission to approve a quitclaim or relinquishment of all rights under an oil, gas or mineral lease, to continue to pay rents before and during the reclamation process.
Provides that the Teachers’ Retirement Board member who 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 of those programs.
Authorizes the Teachers’ Retirement Board to establish the desired competencies, set conditions of employment and performance standards, and establish the compensation, as specified, for the Chief Operating Officer and Chief Financial Officer, and allows the board to recruit for these positions from broader sources.
Prohibits persons employed by the state, whose base salary is greater than $100,000 per year, from receiving a salary increase or a bonus while employed in that same position or classification. Requires the savings to be credited to the General Fund and appropriated to the Office of AIDS.
Authorizes a school district, a county office of education or a charter school to select four or more vendors of 403(b) products through a competitive bidding process.
Version: Amended 4/25/12
Sponsor: Author
Location: Assembly Insurance Committee
Board Position: Support in concept, recommend amendments
Beginning January 1, 2013, prohibits a person appointed or publicly elected to a local office that is less than full time from becoming a member of a pension system by virtue of the position into which he or she was first elected or appointed.
Makes various technical and conforming changes to the Teachers’ Retirement Law to facilitate efficient administration of the State Teachers’ Retirement Plan.
Version: Chaptered (Chapter 864, Statutes of 2012)
Encourages CalSTRS and CalPERS to prioritize investment in California infrastructure projects over alternative out-of-state projects if the investments are consistent with their fiduciary responsibility.
Version: Chaptered (Chapter 760, Statutes of 2012)
Prohibits the annual rate of salary of a state officer or employee from exceeding the annual salary authorized to be received by the Governor, subject to certain exceptions.
Urges the federal government to allow all retirees who have contributed to a qualified retirement plan the option to use funds from their plan to pay for their medical and long-term care premiums.
AB 17 (Davis) – Emerging Investment Managers
Beginning August 1, 2013, and through 2017, requires the board to annually participate in a legislative hearing on the ethnicity and gender of the investment managers who participate in managing their portfolios and on the ethnicity and gender of the brokerage firms that provide brokerage services.
AB 178 (Gorell) – Postretirement Employment
Changes the postretirement earnings limit to one-half of the median final compensation of all recently retired members. Excludes an employee of a third party, as specified, from the postretirement employment requirements. Extends a narrowly applied exemption for one year, with additional requirements for substantiating eligibility. These changes would apply to the 2012-13 fiscal year. Allows service retired members who reinstate on or after July 17, 2012, to re-retire within a year of reinstating and requires those members to keep the same option and beneficiaries, or unmodified benefit, that were in effect before reinstatement for one year after reinstatement.
AB 340 (Furutani) – California Public Employees’ Pension Reform Act of 2013
Makes various changes to California public employee pension systems through the enactment of the California Public Employees’ Pension Reform Act of 2013.
AB 1054 (Skinner) – Quitclaim on Leased State Lands
Requires a lessee of state lands, who files with the State Lands Commission a written request for the commission to approve a quitclaim or relinquishment of all rights under an oil, gas or mineral lease, to continue to pay rents before and during the reclamation process.
AB 1101 (Eng) – Teachers’ Retirement Board Election
Provides that the Teachers’ Retirement Board member who 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 of those programs.
AB 1735 (Wieckowski) – Board Authority over Senior Management Classifications
Authorizes the Teachers’ Retirement Board to establish the desired competencies, set conditions of employment and performance standards, and establish the compensation, as specified, for the Chief Operating Officer and Chief Financial Officer, and allows the board to recruit for these positions from broader sources.
AB 1787 (Portantino) – State Employee Salary Freeze
Prohibits persons employed by the state, whose base salary is greater than $100,000 per year, from receiving a salary increase or a bonus while employed in that same position or classification. Requires the savings to be credited to the General Fund and appropriated to the Office of AIDS.
AB 1819 (Ammiano) – Charter School Access to CalSTRS
Requires employees of a charter school who perform creditable service to be in CalSTRS, if it does not affect CalSTRS’ tax-qualified status.
AB 1949 (Cedillo) – Authority to Select 403(b) Product Vendors
Authorizes a school district, a county office of education or a charter school to select four or more vendors of 403(b) products through a competitive bidding process.
AB 2429 (Hagman) – Public Employees’ Retirement: Elected & Appointed Officials
Beginning January 1, 2013, prohibits a person appointed or publicly elected to a local office that is less than full time from becoming a member of a pension system by virtue of the position into which he or she was first elected or appointed.
AB 2663 (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.
SB 114 (Yee) – Community College and Adult Education Instructor Collective Bargaining and Employment Agreements
Requires collective bargaining or employment agreements for community college adjunct and adult education instructors be submitted to CalSTRS.
SB 955 (Pavley) – Investing in California Infrastructure Projects
Encourages CalSTRS and CalPERS to prioritize investment in California infrastructure projects over alternative out-of-state projects if the investments are consistent with their fiduciary responsibility.
SB 1368 (Anderson) – State Officer and Employee Salaries
Prohibits the annual rate of salary of a state officer or employee from exceeding the annual salary authorized to be received by the Governor, subject to certain exceptions.
SJR 21 (Kehoe) – Federal Tax Exemptions: Retirement Funds
Urges the federal government to allow all retirees who have contributed to a qualified retirement plan the option to use funds from their plan to pay for their medical and long-term care premiums.