Upon authorization by the Teachers’ Retirement Board, requires all employers to submit their contribution payments by an electronic funds transfer method.  Also allows an employer that is unable to comply with this requirement to apply to the board for a waiver to pay in an alternative manner.

To the extent the CalSTRS and CalPERS boards identify “climate-related financial risk,” as defined, as a material risk to the fund, requires that risk to be analyzed. By January 1, 2020, and every three years thereafter, the bill requires the boards to publicly report on the analysis of the material climate-related financial risks of their public market portfolios. Also provides a sunset date of…